Decide And Stick To It!
This is the most important and also most difficult step to overcome since going traveling will certainly be a big push outside of your comfort zone. Naturally, you may have plenty of concerns like your job you may feel like you are stuck until retirement, but don’t be worried. Many people before you have done it and many people after you will do it too. And as long as you really desire to do it you will find a way to pursue your dream of traveling the world before you retire.
I have done it with my wife twice already and we are in our 30s and I am sure before we retire we will travel the world many more times. As the old saying goes, “once you start and catch the traveling bug, you cannot stop”.
Negotiate Time Off Work
Many companies these days offer accommodating sabbatical programmes, or long-term unpaid leave, or some form of career break.
You just need to research it properly and give your employer enough notice. Also whilst negotiating make sure your employer doesn’t make you change your mind about traveling, which might be in their own interest! Remember that replacing you for the duration of your leave will certainly be of inconvenience to them and they may try to persuade you with some reasons to keep you, like: when you come back your current post is no longer going to be available, it will affect your pay rise, or worse present the reasons for not being loyal to the company, etc.
This conversation may not be easy but the good thing is that you can prepare yourself well for it, anticipate their tactics and have a solid argument to present why you want time off and why it is important to you and for your personal/spiritual growth. At the end of the day, any good employer should honor your personal aspirations and circumstances and be as accommodating as possible, if NOT you may want to start questioning whether employer cares about you and whether you actually want to work for them anymore?
It is a good test and a realization point. It certainly was for me. Don’t be afraid and be prepared to demonstrate that you are ready to look for alternative career opportunities and know your values and know that you can find a new job elsewhere.
Alternatively, if your work circumstances allow you to work remotely you may want to consider if traveling with your laptop and work 1-2 days/week from your current location will be a good fit for you and your employer. I personally don’t think it is a solution that works well on travels longer than 1 month and can become frustrating for both parties since you will have to effectively manage the traveling and working mindset for an extended period, which may take out the fun and joy of traveling.
This doesn’t mean that there are no effective tactics that can help with that and if you are seriously considering working remotely research it well.
Save Money Upfront
Traveling costs are one of the biggest worries people might have and at the same time, it is one of the biggest variables. You really want to spend some time working out your budget because this will determine things like: how long do you need to save for, how long can you go for and most importantly where you can and afford to go.
The approach I used for my second time traveling worked quite well and you can see if it works for you.
As a rule of thumb, once you have worked out how long you want to go for (this will be the number of months you are likely going to be out of stable and consistent income and using up your savings), simply multiply the number of months by $3000/month and that will give you a rough estimation of the budget you need to save for. $3000/month figure is something I have experienced to be more or less correct assuming that you are traveling moderately, i.e. eating out most of the days, but avoid expensive 5-star restaurants, sleeping in comfortable but affordable hostels/hotels (again away from gold and glamour that can easily cost you $3000/night!). This budget should still allow you to have spare cash to pay for various excursions, entry tickets, experiences that you dreamed to have by deciding to go traveling.
Remember that your traveling budget also needs to take into account all the costs that you will still need to pay “at home” when you are away, i.e. rent/mortgage, bills, finance, etc. This will highly depend on what your current financial obligations are, and you can think if there are ways to offset it like: renting your house whilst you are away, changing the utility bill tariffs, getting rid of the car that will not be driven.
My advice would be if you are only going for 1-2 months you can probably easily save enough to cover the home “running costs”, but for travels longer than that you will notice that these running costs make up a big portion of your savings that could be used for generating long-lasting experiences.
So to sum up, let’s go through my example. Last time we went traveling for 6 months, the budget required was 6*$3000 (travel budget) + 6*$500 (home running cost) = $21000. With this type of figure in mind, it’s much easier to set your saving goal and tailor the saving strategy accordingly. Also when you are traveling you really want to have peace of mind that you have enough money so you can enjoy it.
There are ways to reduce the travel budget even further. For example choosing to visit places that are more affordable, or visit places in a less busy period where you may get some good deals on flights and hotels, etc. $3000/month is a rule of thumb that worked for me in the past and was aligned with all the fellow travelers I met during my travels.
I will be writing another blog on how to travel on a shoestring where I will be sharing some more ideas on how you can visit the places you like but keep your budget low!
Earning While You Travel – By Starting Your Own Online Business
If the money is your prime objections that ultimately stop you from getting up and go traveling, or if you are in a profession that doesn’t allow you to save enough money to chase your dream to travel before you retire, and if you know that there is a better life for you out there waiting to be discovered and explored, which is where I was for later years of my corporate career, I have some really exciting new to you.
We are so blessed with living in the Digital Era where it is possible to create a life of your dreams, which could be traveling, by starting Your Own Online Business. Click on the link below to find out how.
Travelling is one of my life passions and something I am very grateful I have discovered in the early years of my life. If you are like me and have a great desire to travel, make me a promise, don’t put it off until you retire but do it now!
Believe it is possible and have fun in doing this.
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