For some people, a vacation simply isn’t enough. With most Americans getting barely two weeks of paid vacation per year, there are many that are burnt out and need a break. This is when people decide to jump out of the rat race and travel the world.
It seems like a dream but it is something that is totally feasible these days. You can leave your work behind and travel indefinitely. In fact, you could never come back except to take a reverse vacation if you so desire.
This isn’t to say that it is as easy as packing a backpack and hitting the road. It takes a lot of planning and preparation before leaving. Plus, you have to be very flexible once you do get out. In this article, we will go over what it takes to actually pull off an incredible round-the-world trip indefinitely.
Get the right paperwork done
There is a lot of paperwork that will need to be done before you can get started with your great adventure. The two biggest things to be done are to get your visas lined up and to have the best travel insurance as well as health insurance.
Getting insurance is going to be essential so make sure to research the policy you’re interested in. You will want to have it cover every country that you plan to visit. There is a list of countries that it does not cover.
Medical travel insurance is also very good to have since you will be flying more than most average people. There is a higher probability that a delayed flight or extreme weather event could derail your plans. Having insurance to hedge against that is important.
There are a lot of different types of coverage to look for. For instance, if you are in a developing country then the healthcare services are likely to be lower than your standards. Having a life flight option to take you to another country that has higher standards is something you should definitely have.
Travel insurance is also very good to have since you will be flying more than most average people. There is a higher probability that a delayed flight or extreme weather event could derail your plans. Having insurance to hedge against that is important.
The other important paperwork is sorting out your visa situation. Each country has its own visa rules and they change according to the citizenship status of those applying. Make sure you apply ahead of time since you will need to send your passport for the visa.
Have an income
There really is no longer any need to work in an office these days. In fact, if you plan ahead you may not have to work at all to travel. There are many passive-income opportunities that will allow you to travel without having to do much beyond checking in with your computer or smartphone once in a while.
You could be making money by investing in stocks or cryptocurrency. Or, maybe you want to buy some rental properties and make passive income that way. These methods will give you enough interest to live in many low cost of living countries.
If you don’t have the time or money to invest before you leave then you can work while you travel. There are a lot of remote working possibilities that will pay you well and give you the income needed to keep traveling.
Lastly, there are also opportunities to work in the country that you end up in so you can earn enough to live. Tourist areas love hiring people with good English language skills. And there is usually a big need for English teachers in those off-the-beaten-path destinations. They won’t pay much but can extend your travel time by avoiding using your savings.
Have a strict budget
Although it isn’t going to be as expensive as most people think, traveling the world is not going to be cheap. You’ll need to budget very well and be able to stick to it to make sure you only come back when you want and not because you ran out of money.
Have a solid understanding of how much money you have coming in every month. Then, calculate how much you are able to spend on each expense. For instance, housing shouldn’t cost you more than 30% of your income. If you know that your ceiling is $400 for a place to stay per month then you know where you can travel and get those kinds of prices.
Travel is also going to be a big expense so be smart about taking busses and trains instead of flying by doing local travel throughout a region. Let your budget be your guide for where to travel. If your budget only allows for $200 in monthly travel expenses then you know that you shouldn’t be traveling too far by plane. This means that if you are in Thailand, your next stop should be Laos and not Italy, for example.
