Author Csmith224422 Posted June 25, 2015 Author Share Posted June 25, 2015 OP, There are tons of blogs online from people who traveled the world over a year's time and how they budgeted it. Read those blogs. Figure out what works best for you. It's all about the research. Here's one. It gives great tips. Round the World Travel Budgets Revealed: The Real Costs of 11 Real Trips | BootsnAll All - thank you for the advice. I've read up on a lot of these guides already. A book that I found really helpful was: How to Travel the World on $50 USD per Day. http://www.amazon.com/How-Travel-World-50-Day/dp/0399173285 I think I can do this all for about $20,000 per year. Nonetheless, I will try and find work while travelling to help expense this as well. I know about the TESOL. I was thinking about just giving private classes on the side, but you're right that have the TESOL course could open up more opportunities. I mean I'm 30 now and would like to settle down one day (wife, family, kids) so I'm thinking that this might be the best time to get this out of my system. 3 Link to post Share on other sites
Author Csmith224422 Posted June 25, 2015 Author Share Posted June 25, 2015 Just take an extended leave if they'll let you. Shame to give up that good a job. Not possible at my job. Link to post Share on other sites
pink_sugar Posted June 25, 2015 Share Posted June 25, 2015 All - thank you for the advice. I've read up on a lot of these guides already. A book that I found really helpful was: How to Travel the World on $50 USD per Day. http://www.amazon.com/How-Travel-World-50-Day/dp/0399173285 I think I can do this all for about $20,000 per year. Nonetheless, I will try and find work while travelling to help expense this as well. I know about the TESOL. I was thinking about just giving private classes on the side, but you're right that have the TESOL course could open up more opportunities. I mean I'm 30 now and would like to settle down one day (wife, family, kids) so I'm thinking that this might be the best time to get this out of my system. I won't have money to travel like that until well into my 30's, so deciding not to have kids really tool the "deadline" pressure off. Link to post Share on other sites
Imported Posted June 28, 2015 Share Posted June 28, 2015 Unless your job is something you enjoy doing, I'd quit. Although if you're making a good bit of $$$, I'd save up/invest more $$$ to make it a permanent thing. I'm retiring at 46. **** work. 2 Link to post Share on other sites
Els Posted June 28, 2015 Share Posted June 28, 2015 I agree with the investment advice; and from everything I've read, it's a pretty bad idea to stash away $100k in the bank anyway, because fixed deposit interest rates pale in comparison to pretty much all other avenues of investment. Definitely do your due diligence and research (which types of investment to go for would differ greatly depending on the place you live and the market there), but do consider investing some of the money before you leave. In the meantime also make more concrete plans for your travels - you can't just show up at a foreign country and expect they'll let you in to teach English or work. You'll likely need to get the appropriate visa most of the time, which can often take time to arrange. Link to post Share on other sites
JustAddIce Posted June 29, 2015 Share Posted June 29, 2015 I play on travelling light, backpacking, staying in hostels, and using miles for free flights. Also, I would teach English and pick up other jobs while traveling. Also, when I come back after about a year or two, I may enroll in a graduate school program for business so I would be making a career change. Currently, I am a lawyer and have been practicing for 8 years. I actually like my job and enjoy what I do, but I have other interests and feel bored with the daily routine. Short answer: yes. I do enjoy traveling so I'm being biased here. Have you planned on how to finance for your graduate education when you come back? I'm assuming you want to obtain an MBA. A good biz school can be very expensive. I'm pretty sure you know that already. Link to post Share on other sites
Gunny376 Posted June 29, 2015 Share Posted June 29, 2015 The typical route is to complete your education, then gain some experience, (apprenticeship ~ most things take your a typical human being to go from being inexperienced to good, to really good, to damned good at it ~ thus my reference to apprenticeship) and then spend the next twenty to forty years to acquiring wealth, accolades, awards, etc. The trouble with this? Is that by the time you've done all of this, and you've FINALLY have the time and the money to pursue things? You've spent some of the best years of your life, your health, your strength, etc. I vote for living your life of personal integrity. You've plenty of years to pursue a life of being a lawyer. 1 Link to post Share on other sites
Author Csmith224422 Posted June 29, 2015 Author Share Posted June 29, 2015 All great points! I thank everyone for their advice. So I've done a lot of research on this and what I would do when I come back. Again, I've been working as a lawyer for 8 years, so I have that experience; however, it may be difficult to explain a gap in my resume when I come back if I want to continue to work as a lawyer. Law firms are old school when it comes to this . . . Nonetheless, I'm not 100% sure I want to continue as a lawyer anyway. I have an interest in spending an extended time in a particular country. It just so happens that this country has a top ranked business school that instituted a new international MBA program, which provides a full scholarship if I score in the top third on the GMAT (business school entry exam). So I've been studying for the GMAT to get into the the program. This will (1) allow me to get 6 months of travel before the program starts; (2) live in this particular country for an extended period of time; (3) travel on my time off (i.e. in between semesters); and (4) have something on my resume to use when I re-join the workforce. Also this country has English school that are pretty relaxed on certificates and other requirements to work . . . Lastly, I would say I'm advanced in the language of this country so living there would hopefully make me fluent (another skill to bring back with me) I think this is a reasonable and balanced way to approach my goals and concerns . . . thoughts? Link to post Share on other sites
writergal Posted June 29, 2015 Share Posted June 29, 2015 All great points! I thank everyone for their advice. So I've done a lot of research on this and what I would do when I come back. Again, I've been working as a lawyer for 8 years, so I have that experience; however, it may be difficult to explain a gap in my resume when I come back if I want to continue to work as a lawyer. Law firms are old school when it comes to this . . . Nonetheless, I'm not 100% sure I want to continue as a lawyer anyway. I have an interest in spending an extended time in a particular country. It just so happens that this country has a top ranked business school that instituted a new international MBA program, which provides a full scholarship if I score in the top third on the GMAT (business school entry exam). So I've been studying for the GMAT to get into the the program. This will (1) allow me to get 6 months of travel before the program starts; (2) live in this particular country for an extended period of time; (3) travel on my time off (i.e. in between semesters); and (4) have something on my resume to use when I re-join the workforce. Also this country has English school that are pretty relaxed on certificates and other requirements to work . . . Lastly, I would say I'm advanced in the language of this country so living there would hopefully make me fluent (another skill to bring back with me) I think this is a reasonable and balanced way to approach my goals and concerns . . . thoughts? Sounds like Singapore is your destination? Link to post Share on other sites
applej4 Posted June 29, 2015 Share Posted June 29, 2015 Give the $100,000 to a reputable charity or a homeless shelter. Link to post Share on other sites
jackny123 Posted July 7, 2015 Share Posted July 7, 2015 OP: I am in a similar position to you. I have some savings and no debt. But only enough to exit the workforce for maybe 8-12 months. I couldn't go longer than a year without a job before starting to burn through my savings fast. My advice: Make a plan. Have a set amount of time you want to travel. I agree with one of the posters - why not buy property, store your things there and rent it out? You'd have income from the rent coming in and your things/furniture would exist somewhere when you got back from your travels. There are also legal process outsourcing firms with offices around the world. You could always try and get a gig doing a lil legal work here and there during your travels. Do it. This is your life. Nobody else is going to live it for you. And this is not a jaded statement at all - but I assume you want to have a partner and kids someday. They'll suck your money and savings dry for 18-25 years. So, might as well be a little selfish while you can. Link to post Share on other sites
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