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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?
You can do a world cruise for about $25,000 and 3-4 months if that interests you. Cunard - Cruise results
I heard of a few people retiring to a cruise ship and living on it year round.
Maybe I'm pragmatic and a kill-joy, but I'd be stashing that $50K into a Roth IRA. Trust me, it will provide several WTW trips if you invest it in good mutual funds and leave it there for a couple of decades.
Signed,
Somebody that didn't **** away money on luxuries earlier in my life and, as a result, retired at 52. We travel a lot.
This is good advice although when I was younger wouldn't have listened to it. It would be interesting to see the responses if this post was on the retirement forum. I think this would be a consistent message.
But, one might not live a couple of decades
Or might not be in good enough shape in a couple of decades
Or the world might have gone to **** by then
The OP needs to ask, what's more important to them, to see the world no - when doing so is closer to being assured, or maybe doing it later.
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.
$50K for a year of travel is only $4,500 per month. If you limited the number of flights, booked them well in advance, and mostly stuck with cheap places, you could do it.
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?
Quote:
Originally Posted by himain
Well being so I don't have any true responsibilities I don't have a timeline. It's just a thought Im throwing around. You only live once
It's lots of fun to say you've been around the world, but what is it you want?
In no particular order I would see Botswana; A town (any town - Homer, Sitka...) in Alaska; Galapagos; lots of Australia; the castles of Ireland; the distillery in Scotland where Chivas Regal is blended; and I would take a freighter to India, use public transportation and go see the Taj Mahal.
And I would do each of those trips carrying only my backpack and staying at non-tourist hotels.
I would also take a train trip to Washington, DC, but we've already done that. Actually, I've done a lot of backpack traveling. I travel the more traditional style when my wife goes, but I prefer my backpack.
I recommend you take a trip, come back and then take another.
RTW tickets prices range between $2,700–$10,000 USD, depending on your mileage, route, and number of stops, though a simple two- or three-stop RTW ticket might cost as little as $1,500 USD. RTW tickets are actually airline alliance passes. You buy a ticket from one airline that can be used with them and their partners.
RTW tickets come with a number of terms and condition. Generally speaking, a ticket is valid for 1 year from the start date and requires you to end in the same country you start in. You don’t need to end in the same city but you need to end in the same country.
I met some folks in Europe who were doing this. They used a creative travel agent who worked with them. Trains and hiking and boats and planes.A great adventure. When i talked to these guys they were going to India next! I bet you could do it on much less if you were willing to hike a bit.You would meet a lot of interesting people that way.
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.
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
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While I had intended to buy a RTW ticket... the current CHEAP price for international travel (and the restrictions of RTW tickets) made it much easier and convenient to buy legs to hubs and fly short hops from the hub.
Out total Air for one yr was under $5k each (and we took LOTS of regional flights)
The 'budget' killer for us was camper van rentals. (much cheaper to buy used and resell)
Food is pricey in much of the world (if you eat out). Groceries, you can pick and choose and eat local produce / grains to keep the costs down. Thank goodness for Dominoes and Pizza Hut ($5 personal Pizza) during our 4 months in NZ / AU. There was NOTHING else on menus to feed (2) for $5. ($5 AUD or NZD is a pretty good deal!) Mc D dessert cone was $0.50 (good deal too). Usually we got groceries at co-ops and made our own faire.
We probably averaged $50 / day expenses + rental car / local transportation. (+ our $5k air (for whole yr) each). If you avoid Oceania (NZ and AU) your flights MAY be less... (Africa and SA can be steep, depending on your destinations and departures). But... there are other ways to travel (Relocation cruises can be quite cheap commute to expensive destinations. ) One of my friends, crewed and relocated huge private sailboats for over 10 yrs (as a couple). A honeymoon ordeal gone 'mainstream' (i.e. turned into a career), They got free passage, food allotment, stipend, and return flights.
Ironically, this yr traveling the USA I spent $30k on air alone. (but companion flies free for over 100 flights), Still too much! Should have been an airline employee... at least my USA travel is 50% deductible (offset to income).
Short trips are more of a pain than just being out for months at a time. + you burn a LOT of time and $ going home!! Short trips you are ALWAYS 'planning' / packing / moving, leaving, lugging.
RTW... eventually we 'got-in-the-groove'... became 'normal' to be traveling, and no schedule / reason to go home... so... go with the flow. Smell the roses. Really nice to stay in one region for at least a month. very common to find furnished flats in much of the world.
Our bank card companies were not impressed and kept locking us out due to different ISP everyday. Yes, we had provided and kept them, up to date on our whereabouts...but they were not used to ONE YEAR away! They can handle a month or two...
Last edited by StealthRabbit; 12-30-2017 at 11:47 PM..
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