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So I've got some money from an inheritance and I'd love to go see the world. I have no kids and no bills except for car pymt and health insurance which would be covered while I'm gone. I don't think necessarily I'd need to spend the whole 50k but it would be an option if needed. Where you would you go if in my shoes?
I could do it on 5k, I've done for less.
Are you planning on buying the train?
True, but pretty pessimistic. And unlikely. Much more likely that somebody is going to reach retirement age and not have enough money to retire. Especially if they don't plan.
$50K invested at 6% in 20 years = $160,000
$50K invested at 6% in 30 years = $287,000
Roth IRA = no taxes when you take the money out.
Now if the OP has been maxing out his 401k for years, has an emergency fund established, has paid off his car and credit cards - yeah, then MAYBE I'd say go spend it. Otherwise, I'm sticking with my plan.
While I appreciate the info-I'm looking for info on a RTW trip-not financial advice.
You can certainly do a RTW trip for way under $50K, but it will not be a year of travel. I once plotted out a RTW trip that was supposed to take a month: Chicago - Honolulu - Auckland - Sydney - Singapore - New Delhi - Jerusalem - London - Chicago. (My business reason for the trip disappeared so I didn't go.) I was planning to spend about $15K plus airfare (miles). The price, a $500 a day budget, was intended to cover good hotels, good restaurants, and private transportation.
There are lots of places on the planet where you can travel for sub-$100/day and see the world for a year on $50K. Hint: Not Honolulu, Sydney, or London. No Michelin star restaurants. Public transportation.
We're renting an apartment through AirBnB for 8 days in the Alfama district of Lisbon for less than $100/day. There are lots of options in Portugal for less than $50 that aren't dumps once you get out of Lisbon. Spain outside of Madrid and Barcelona is like that. Southern Italy and Sicily. Greece. Turkey. Southeast Asia is really inexpensive. New Zealand outside of Auckland is cheap. You don't have to work too hard to find a really nice hotel in any South American city for sub-$100.
You can also find four star sub-$100 hotels in central London on Priceline on a prepaid. Not in peak summer tourist season and you have to be selective about the day of week. I stay around Paddington fairly often for $100 when I do the Boston-LHR morning flight on a Friday or Saturday and hang out in London for the weekend before a business trip. I usually eat Indian in London. That's not expensive unless I'm doing a fancy Indian- fusion place. The only rational way into London is the Heathrow Express train so nobody takes private transportation. That's true for pretty much all major European cities.
You can certainly do a RTW trip for way under $50K, but it will not be a year of travel.
Just because you can't travel the world for under $50k doesn't mean it isn't possible.
One can easily travel a year for under $50k getting a taste of every continent, staying in good clean places with private bathroom and climate control, eating out and doing all the touristy stuff at each location. Majority of it has to be in SE Asia, Latin America, Indian subcontinent, and SE Europe, but can pass through other areas for shorter time.
If you have an open timeline, maybe you should think about two trips. Do a relatively quick flying RTW hitting some places you'd like to experience, but mainly as a means of shortening your wish list for places you'd like to experience in more depth.
You could, for example, buy a cheap alliance RTW ticket that allows 16 flights spaced over a year, and use it hit some out-of-the-way places where conventional tickets become price-prohibitive. (My favorite examples for this are Easter Island, Tierra del Fuego and the Seychelles, but others will have different lists.)
During that trip, if you see someplace you'd like to explore in more depth, you could either re-schedule the rest of the ticket to allow lots more time there (RTW tickets allow free date changes provided everything is completed in 12 months) OR you could finish the RTW and then return to those places on a separate trip, this time without the constraint of having to fly onward.
Like I said above, this is going to hinge much more on where you want to visit (and when) rather than the logistics of travel and accommodation. You can travel the world cheaply or luxuriously, or do something off the wall like taking a freighter around the world - see here for example.
And of course it needn't be technically around the world - you could fly cheaply to Europe and do a Europe - Africa - Asia loop, or do a "Circle Pacific" loop that includes Asia, Australia/New Zealand and South America - whatever floats your boat. But without major research (which if you share with us will lead to better advice than the scattershot responses you're getting so far) the trip can be too big to conceive. Focus is key.
So I've got some money from an inheritance and I'd love to go see the world. I have no kids and no bills except for car pymt and health insurance which would be covered while I'm gone. I don't think necessarily I'd need to spend the whole 50k but it would be an option if needed. Where you would you go if in my shoes?
How do you define a world trip? Visiting and staying in all 195 odd countries of the world?
How do you define a world trip? Visiting and staying in all 195 odd countries of the world?
I think most would define it as traveling around the world. I've done that on extended business trips a few times. In my case, I traveled westbound. How many stops you make is kind of arbitrary.
So I've got some money from an inheritance and I'd love to go see the world. I have no kids and no bills except for car pymt and health insurance which would be covered while I'm gone. I don't think necessarily I'd need to spend the whole 50k but it would be an option if needed. Where you would you go if in my shoes?
You only have 50k. Learn how to invest. Take trips with a percentage of profits, not with the only money that you have. Investment profits are incredible today.
No-But I don't need to be sleeping on the ground either. I'd like to be comfortable and safe being a single female
A very attractive one if I remember correctly.
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