After graduating from college, husband and I have taken 2 breaks from work, if you will, to live differently and pause for a second. First break came 4 years post college for our MAs abroad, second time a couple of years to be stay at home parents to my first and see the birth of our second, again in a different country.
Both of those breaks were amazing and definitely a highlight of our life journey so far.
Since then, we have decided to focus on a balanced search for FIRE so that we can lead a nomadic life upon retirement while at the same time fit as much travel as we can while we have our kids with us. This was the impetus for starting this blog in 2016.
I am not going to lie, this plan seemed 90% perfect to me. It would give me almost everything I ever dreamed of, except, our kids would be college age (or almost ready) when we FIRED, not allowing for much time to do longer travels with them. Sure, there are summer breaks but would they want to hang out with us then still?
Me: Hey Mr TTR, I got it!! I got it!!
Mr TTR: Uhu, go on….(knowing something crazy was about to come out of my mouth…)
Me: I want to take a pause and do a year off so that we can travel with our kids before they are too old (10-14 range max) and worldschool them before coming back to work for one last round (6-7 years) and finally retire for good! What say you?
Two weeks later, we have a very rough plan of what we want to do and when we want to do it. We are not telling any of our friends and family of our potential plans (at least until it is more ‘real’) so I am relying on online communities for support and research.
Here is how we are approaching this:
Timeline: The trip ideally happens sometime between 2021 and 2023.
Financials: In the next 6 months or so, we will draft up a general plan of what we want to do and estimated costs. From here we will adapt our FIRE plan.
A minimum requirement is that we at least have $1m in liquid assets, either leave house rented (and it has to cover 100%, which it should, if not we would sell it) AND $150k saved for the trip and contingency when we come back. That is our min-max guideline.
For now, we will continue with our current financial plan and make adjustments from the point where we hit the above $ (right now, if all things continue should hit it mid 2021) and go from there!
Travel plans: Once we make the above analysis we can make the final “Go” decision on our plans. When we are fairly sure we can turn this into reality, I will start sharing with you the detailed plan along with process and costs and resources I use to plan. Stay tuned!
Worldschooling: Once we figure out the above, we would have to figure this part out. Frankly this is the part that scares me most but I know we can figure it out. I essentially taught myself highschool while traveling the world, so I know it can be done, I just don’t know about state requirements for what they need to do in order to come back to their public school.
I am excited about the possibility but cautious in case we can’t make it work. Tell me, what do you think about this plan? Would you consider something similar? Have you done this before?