I am now in my mid 20s, and have spent the last 7 years job hopping through incredible seasonal and outdoor recreation based positions around a couple different countries and locations. I have also spent extensive time travelling throughout Asia and North America
I am looking for advice or stories from anyone who has continued to live this lifestyle well into their 30s, 40s and beyond- but ALSO has taken care of themselves in the financial sense and planned for their future eg. Retirement and, bonus, if you have had children at some point in the mix
– children is a big one for me, although I am leaning towards fostering or adoption
I don’t come from “money”, so no bank of Mom and Dad to help. But I usually am employed for 6-12 months at a time, and then travel on and off for a few months until finding a new job
Outdoor recreation and seasonal positions aren’t the best paying, but I live a somewhat frugal lifestyle and am great at saving. Usually I find myself with about $20-$30,000 saved after a year of working.
In this last year, I have learnt about investing for retirement. I now have $15,000 for long term investments, and a further $23,000 in my countries government/ employer retirement investment fund. Going forward, I am hoping that outside of paying for living expenses that at least half my money will go towards long term investments, and then the other half to the travel/ lifestyle side of things… something like that…
I would love to continue this lifestyle, whenever I think about what I want the next 5 years to look like, it’s always epic travelling, moving to new countries and I extremely dislike the idea of picking 1 spot to settle in. I don’t want to be shooting myself in the foot with this lifestyle, and please feel free to say that I am being delusional! I’m an adult, I can hear criticism
If you have any tips, blogs or stories. Please comment
How to be Financially Responsible whilst living a Nomadic/ Travelling lifestyle?
byu/TestSimilar6032 inpersonalfinance
Posted by TestSimilar6032
3 Comments
Depends on your nationality. Retirement accounts, etc. are most often based on your nation of origin.
Follow this: https://www.reddit.com/r/personalfinance/wiki/commontopics (with variation for your country of citizenship’s tax and retirement saving systems)
The advice doesn’t change because you choose to spend money on epic traveling instead of living in one place. Make a budget that reflect your priorities, spend less than you earn, use that difference to work toward larger/longer-term goals.
i would say that the main thing is to maintain good status with your country’s retirement system.