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My wife and I are both 36. We have a 3 yr old daughter and a 3 month old boy. We are planning an exit from suburban Austin to travel the world with the following plan.
We are selling our primary residence (hopefully) which should allow us to pay off all of the remaining debt on our rental properties so we would have 4 paid for, cash flowing properties with combined gross rents of $6425/month and a net income of around $4000-4500/month. In addition we will have liquid assets that will pay another $500/month in dividend cash flow and I am a proprietary day trader who is able to work basically anywhere I have a quality internet connection.
I’m certain I could stay in suburbia, leverage into some NNN commercial properties, focus on my work, and raise my kids in a standard American lifestyle, but we are choosing a different path that will hopefully take us to the far corners of this planet and enrich us more than our current living situation. For once I am not going to allow the dollar bill to guide my decisions.
1: Do you think we’re crazy for wishing to travel this extensively with such young children?
2: Do you think we are cutting it too tight financially? We plan to live below our means and travel slowly spending at least a month each in low cost of living countries (Central America, Asia, etc)
3: Any input you may have positive or negative is welcomed. I’m confident, but not over-confident about this type of existence. I’m sure it will be tough but rewarding.
It feels like somewhat of a FIRE plan.
Thank you in advance.
Last edited by alwaysmiling; 04-07-2019 at 10:55 AM..
Reason: Too much personal finance
I think your plan sounds great. Especially knowing you'll be in CA and Asia. Lots of places to choose from that you should be able to afford on that income. Keep in mind that touristy places with lots of Americans/Europeans will be more expensive, but still generally cheaper than the US/ Europe. Your kids will be fine and I'm sure as a family you'll have lots of rewarding experiences. You can always come back to the US if it doesn't work out or you later want the kids in American schools, etc. The main issue I think might be healthcare as I'm not sure how much it costs to get a plan that will follow you from country to country.
I can't really answer any of your questions, but you may want to check out The Bucket List Family on YouTube. You would probably find their videos pretty interesting.
You seem to have though out the basics. You can always end your travels and return home if things do not work out. My concerns would be medical care and education of the children. Traveling around the world could provide a very good education.
It seems like you have thought this out pretty well and have a plan, so go for it instead of regretting not doing it.
We've moved 17 times in 25 years for my husband's career and it's been amazing. Even when we made a mistake it was still an adventure, we've experienced new places and people and have the ability to adapt easily. We don't have kids but you situation is different that you are giving your kids the world to experience, which I think is vital and probably easier to do when they are young rather than as teenagers.
There is nothing saying that if you are unhappy with your choice that you can't make another one. As long as you and your wife agree on the choices things will be fine.
My wife and I are both 36. We have a 3 yr old daughter and a 3 month old boy. We are planning an exit from suburban Austin to travel the world with the following plan.
We are selling our primary residence (hopefully) which should allow us to pay off all of the remaining debt on our rental properties so we would have 4 paid for, cash flowing properties with combined gross rents of $6425/month and a net income of around $4000-4500/month. In addition we will have liquid assets that will pay another $500/month in dividend cash flow and I am a proprietary day trader who is able to work basically anywhere I have a quality internet connection.
I’m certain I could stay in suburbia, leverage into some NNN commercial properties, focus on my work, and raise my kids in a standard American lifestyle, but we are choosing a different path that will hopefully take us to the far corners of this planet and enrich us more than our current living situation. For once I am not going to allow the dollar bill to guide my decisions.
1: Do you think we’re crazy for wishing to travel this extensively with such young children?
2: Do you think we are cutting it too tight financially? We plan to live below our means and travel slowly spending at least a month each in low cost of living countries (Central America, Asia, etc)
3: Any input you may have positive or negative is welcomed. I’m confident, but not over-confident about this type of existence. I’m sure it will be tough but rewarding.
It feels like somewhat of a FIRE plan.
Thank you in advance.
As someone who hated the idea of living in suburban U.S. when I was getting out of college, I can relate to your situation. I left the U.S. when I was 22 and have been living in Asia, for the past 18 years or so. I have a 6 year old daughter and another child on the way this year. Financially AlwaysSmiling, your golden. I have a job but will be leaving it soon and we will live on our rental income as well. Our amount is slightly higher than yours, but 4k to 4500k usd in Asia or central America you can easily live nicely off of that income. My only advice on the financial side is try and budget like 3k. This way you live comfortably, but you are also saving a part of that rental income. Your young, and you still should be saving money and investing that into the market to keep building up your net worth for later years when you can't work.
The biggest hurdle for you is schooling and after school activities with your child. Are they going to be home schooled? Attend an expensive international school? International schools in Central America are like 10K USD annually and in Asia they are over 20K USD annually. Also, what about activities for the kids. Sports or being on a team, art classes, music classes, gymnastics, swimming. I would think about picking one country in Central America or Asia and live there for a year or two, and then travel when you want. Hopping around with two kids is not a great idea. You guys will get tired of it quickly, plus children need some sort of stability. They will want to make friends, be part of a community and you and your wife might want to meet local expats and perhaps do activities with other families.
Healthcare is not an issue. Your young, and everywhere except the U.S. healthcare is cheap. You would be amazed at how good many countries healthcare is these days at a fraction of the price. Some countries however you might have language barriers to deal with.
Safety - Asia is super safe, however I've heard stories from a number of different people on afety issues for foreigners living in Central America.
Best of luck, and I think you have a great plan and your kids and wife would have an amazing experience from this life. My only concerns would be the kids schooling and socializing, as well as not hopping around but selecting one country and living there for a year or two and then see where you want to go next.
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
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Great planning and idea.
We lived internationally and homeschooled off and on when kids were age 5 - 14. Returned to USA for free college instead of HS (WA State), but since many countries offer free college, I would choose to stay internationally for college next time.
Exceptional socialization skills for our kids were one of the best part of the success, our kids were an open avenue to many great learning's and relationships. We spent a lot of time volunteering (all ages) and doing home businesses so the kids knew how to get along with all age ranges.
Medical will only be a problem in the USA (That is why many insured from other countries are not allowed to travel to USA)
While in USA, consider a healthcare sharing network. ~$300 / month.
As above, consider minimal 'hopping' and set up a travel base where that can be home for a few months at a time. As the kids age to 6+, consider a gig on a farm. Our kids really enjoyed the time on farms. (Where there are often extra living areas / cottages). We also stayed for months at international camps in beautiful locations. (Free room and board for minimal maint work / off-season). Lived on a sailing camp, that was nice.
Retire Early / Retire Often.
Last edited by StealthRabbit; 04-07-2019 at 08:57 PM..
My wife and I are both 36. We have a 3 yr old daughter and a 3 month old boy. We are planning an exit from suburban Austin to travel the world with the following plan.
We are selling our primary residence (hopefully) which should allow us to pay off all of the remaining debt on our rental properties so we would have 4 paid for, cash flowing properties with combined gross rents of $6425/month and a net income of around $4000-4500/month. In addition we will have liquid assets that will pay another $500/month in dividend cash flow and I am a proprietary day trader who is able to work basically anywhere I have a quality internet connection.
I’m certain I could stay in suburbia, leverage into some NNN commercial properties, focus on my work, and raise my kids in a standard American lifestyle, but we are choosing a different path that will hopefully take us to the far corners of this planet and enrich us more than our current living situation. For once I am not going to allow the dollar bill to guide my decisions.
1: Do you think we’re crazy for wishing to travel this extensively with such young children?
2: Do you think we are cutting it too tight financially? We plan to live below our means and travel slowly spending at least a month each in low cost of living countries (Central America, Asia, etc)
3: Any input you may have positive or negative is welcomed. I’m confident, but not over-confident about this type of existence. I’m sure it will be tough but rewarding.
It feels like somewhat of a FIRE plan.
Thank you in advance.
If I was you, the only and only thing I would focus on, is taking the challenge of long travel with a young baby, and a small kid.
Babies naturally require 16 to 18 hours a sleep every day - sometimes even more. This is several peaceful and industurbed daily naps. You cant give them this by putting them on your back on in your lap or in stroller while in a moving bus etc.
This rest is a MUST for proper development of their brains, bodies and their personality.
You may want to spend time in travel, like reaching a certain destination by a certain time but your kids are NOT designed to stand the same amount of struggle, while on the move, as you are.
Both your kids require proper DAILY rest and sleep and that too, UNDISTURBED AND UNINTERRUPTED.
Do NOT make a compromise on that.
Travelling around the wolrld could be YOUR wish and you could pull it but it’s neither the wish of the kids, nor are they designed to cope with it.
So unless you want to travel REALLY slow - like only a few hours day then go for it, and ready to provide the kind of rest each of kids need daily - otherwise don’t play with the health and well being of your kids. It would be very, very selfish IMO.
We've moved 17 times in 25 years for my husband's career and it's been amazing. Even when we made a mistake it was still an adventure, we've experienced new places and people and have the ability to adapt easily. We don't have kids but you situation is different that you are giving your kids the world to experience, which I think is vital and probably easier to do when they are young rather than as teenagers.
For the children it is best when the parents move around when they are young and in elementary school. Once a child becomes a teenager they want to hang out with friends that they already know as it is much more difficult to be the new kid once one's hits high school.
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