Retirement Travel School: How Much Does It COST to Travel the World Full Time in 2024?

This video is about How Much Does It Cost to Travel the World in 2024? The Retirement Travelers, John & Bev, give travel advice and 10 Tips for Staying within a world travel budget. We share the main cost factors that drive the cost of world travel like cost of country and speed of travel. We share monthly and yearly budgets for low-cost and high-cost countries as well and show how we try to balance these to maintain our travel budget. We also share a good budgeting website below that can help you customize your plans for each country you want to visit.

Website to help with world travel budget:

⬇️ Our Financial Advisors ⬇️

Video Number 149

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Creating a budget for a year-long world travel adventure requires careful consideration of various factors to balance enjoyment and financial responsibility. Here are some key aspects to consider when developing your world travel budget:

Destinations and Duration:
Research the cost of living in each destination you plan to visit.
Consider the duration of your stay in each location, as more extended stays may provide opportunities for lower daily expenses.

Accommodations:
Look for various accommodation options, including hostels, guesthouses, hotels, and short-term rentals for world travel.
Consider the average accommodation cost in each destination and balance comfort with budget constraints.

Transportation:
Estimate the cost of flights, trains, buses, and other transportation modes between destinations.
Consider purchasing transportation passes or cards for potential savings. Also consider how many trips home each year.
Budget for local transportation within each destination, such as taxis, public transportation, or rental vehicles.

Food and Dining:
Research the average cost of meals in each destination and plan your budget accordingly.
Explore local markets and street food for more affordable dining options.
Allocate funds for occasional splurges on unique or memorable dining experiences.
Consider only eating 2 meals per day.

Activities and Entertainment:
Research the cost of attractions, tours, and activities in each destination.
Prioritize activities that align with your interests and budget accordingly.
Look for free or low-cost events and attractions in each location.
Do as much DIY planning as possible.

Insurance and Health Expenses:
Include costs for travel insurance, vaccinations, and any necessary medications.
Research health services and potential medical expenses in each destination.
We will be doing separate videos on these topics.

Visas and Documentation:
Budget for visa fees and other entry requirements for each country.
Consider any travel-related documentation costs, such as passport renewals.

Communication:
Include each destination's costs for eSIM cards, data plans, or internet access.
Consider communication tools like VPNs for security and budget accordingly.
We use Google Fi, Airalo, and Express VPN.

Miscellaneous Expenses:
Set aside funds for unforeseen expenses, emergencies, and incidentals.
Budget for personal items like toiletries, laundry, and small purchases.

Currency Fluctuations:
Be aware of potential currency fluctuations and build a buffer to account for changes in exchange rates. Always use local currency rates for transactions.

Financial Management:
Consider using travel-friendly bank accounts or credit cards with low foreign transaction fees.
Keep track of expenses using budgeting apps or spreadsheets.

Flexibility:
Allow flexibility in your budget to adapt to unexpected opportunities or changes in your itinerary.
By carefully considering these factors, you can develop a comprehensive world travel budget that helps you make the most of your journey while staying financially responsible.

Safe travels,
John and Bev

[RetirementTravelers]

Sorry for the delay in uploading this video. We hope this helps you in your world travel planning, whether for 1 month or 12. Safe travels and many blessings in 2024.
John and Bev

[MhofMvhimiofficial]

I feel honored to have driven this wonderful couple in my Uber from Kirstenbosh Gardens in Cape Town today and took some nice photos❤❤❤🎉🎉

[Pinklover]

Happy New Year!!! This is your SWA airlines Flight attendant. I am soooo happy that I met 2024 is my travel YOU HAVE INSPIRED ME SOOOO MUCH!!!

[jeremiahreilly]

Thank you again for an informative presentation. My gut tells me that your costs ($10, 000/month high cost country, $5, 000/month low cost country is spot on). My wife and I live in Switzerland and are not retired. When we holiday, we travel to mostly to very high cost countries (Switzerland, Germany, Austria, Italy, France, England, Holland, Norway, Spain). I keep good records. Our costs are about $500/day/couple. This includes everything. We indulge ourselves slightly by traveling long haul high speed train routes in first class—exception: we are heading to London in a few weeks and the Eurostar first class tickets were crazy expensive. We eat two meals a day: breakfast and lunch. In the countries we travel to, lunch is generally the bargain meal. In the evening, we grab something light (bread, cheese, fruit),

[haiku-dude]

My spouse and I have travelled to 30 countries over the last 30 months. We typically stay in a community on average 14 days. We travelled for a 54 weeks continually during Covid and it was cheap but we could only pick our pick countries when they opened up and they each demanded a test. We spent an average $5, 800 month. That included 6 self-guided week-long hiking trips. When we were gone for a year we rented our home.

[RandolphSouth]

I am 73 and just went to London and Paris for 3 weeks for 2000 dollars including airfare. I have coffee at my AirBNB and fast until the evening, and got all my food from outdoor markets and cooked at home. One luxury was a18 euro pastry from Cedric Grolet. I love Airbnb and the other apt apps. Enjoying your videos. I love the metro and buses.

[SlowTravelChronicles]

We are slow travelers but not due to budget. We travel slowly because we don’t want to pack/move every week. The savings for a monthly stay is just an added bonus.

[drothberg]

You could save even more on food by, on some days, making lunch your primary meal of the day. Snack for breakfast, large lunch, snack for dinner. It’s plenty of food.

[justhanan_official]

We travel slowly and stay always minimum 1 month at every place, mostly much longer. We go always to low-cost countries. Packing is not an issue for us because we both have less as 10 kg stuff, but we just like to stay long at one place. Our budget is just 750 euro per month for two people and we don't have the feeling we can't do everything we like. We always have a nice room, we enjoy every day and can eat everything we like, ... We're always surprised from these 'big budget' - althought in our eyes - from other travellers.

[andreablack]

Great video thanks. It is interesting to see how much it costs doing it this way. I also follow Grounded Life Travel and Brian and Carrie. Both are slow travellers and Brian and Carrie are budget travellers. Their costs are - on average - USD 4k and USD 2.5k per month. I guess your way sits between slow travelling and outright holidaying which is always very expensive because of lack of time. Thanks again 🎉

[davedaniels]

Yes, I really agree with making friends and being able to stay with them on visits to their countries. I have mixed hotel stays and staying with friends when I travel. I even offer to fix something for them. It helps strengthen the relationship.

[JonnieShipbaugh-dcwk]

I spent two months in 2017 and went all the way around the world. It cost me $8000 or $133 per day and most of my money went to airfare. Airbnb was way cheaper back then so 90% of my lodging costs were Airbnb. I’m currently planning international trips and hotels are my main option. I spent five weeks in Europe then three weeks going eastward. Back then Americans, Germans, and Chinese were the main kinds of people I encountered besides locals. I got zero vaccinations and never got sick nor have been sick since then. I loved the Paris subway the best. Your advice is spot on. Thanks.

[slowmads]

Your videos are so well done. As full-time slow-mads now entering our 4th year, we find that our travel costs are generally about what we anticipated (about $100K a year) with one glaring, off-the-charts exception: entertainment. We find we are willing to spend a little more for good tickets at concerts, smaller tours, and one-of-a-kind experiences (e.g. Formula One race in Monza, Bruce Springsteen in Barcelona, 18 Fringe shows in Edinburgh!). We doubled our budget to $5000 for this line-item this year. We plan to off-set by planning 3-4 weeks more of pet-sitting annually, bringing our total unpaid accommodations via pet-sitting to 12 weeks. It’s fun and keeps out budget in line.

But, yes. . . $10K a month in high-cost countries is about right. The best thing about owning no real-estate and being in our go-go years like you (also no grandchildren or living parents) is that if we need to, we can reduce our expenses in a heartbeat. We also eat twice a day and when we eat out, we always split an entree. Every flight and every hotel room this year will be paid via credit card points! Every year we’re getting better at this. Live Your Life. Live Your Life.

[TNTTravelsWW]

Thank you Bev and John. We have been traveling since last April. We have watched many of your videos and are streamlining our travels based on your expertise. We love the Travel School videos and recently revamped our packing/packs (80L to the 55L Osprey) because we want to travel lighter. We cant thank you enough. We sold our home in San Diego and receive a few pensions so we would categorize our budget as mid-range, with luxury splurge’s occasionally included.

[andrews]

Bev and John. You both are fantastic. As an avid lifelong traveller(64 countries and counting..), I so appreciate your lifestyle and philosophy on focusing on experiences versus accumulating things. Your passion to help others travel more efficiently(without charging for all of this advice) is inspiring and your personal relationship with each other seems to ooze with respect, humor, and love. I have just hit financial independence and retired early at 58. My current plan is to travel about 40% of the time, maximizing the off-peak shoulder travel seasons. Your yearly budget seems spot on as the budget for my plans is proportionate for what you detail. If any of your return trips to the US take you to NYC, you have a place to stay! Otherwise, I will be closely tracking you and hope we wind up in some destination at the same time. Thanks again for all the efforts you make to create this content.

[MrSteveCee]

Your comments about vaccinations are bang on. One example - We opted for rabies shots because we were traveling in remote areas where we couldnt access an antidote if bitten. That shot cost us several hundred each. Vaccinations must be a part of the budget!

[leapintothewild]

We’re def not your target audience budget-wise, but absolutely in your spirit wheelhouse and continue to ❤ you both! 😉 (we’ll be slow-madding for <$4k a month) The travel school is such an amazing idea for one-stop learning, and as a former tech teacher know it takes a ton of work. THANK YOU!

[dellnichols]

Great video! We do 3-4 one month trips per year having downsized drastically in order to afford to do so. We concentrate on one geographic area for each trip which keeps the cost of air travel down somewhat. Of course, air travel has really bitten into our travel budget in the last two years. (Would love to see more on ways to keep the costs down!) Experiences over possessions is a great thing.

[jameshall]

Living in Thailand and as a couple traveling around Southeast Asia, I don’t know how or what you would do to spend more than $3, 000/month. Most months we are at $2000-2500 living well, eating out 100% of the time. As far as vaccinations, we are about 10 years younger than you and after talking with our doctor about vaccinations and all their side affects(everything including aspirin has side affects) we chose to trust our healthy immune systems but that’s a personal choice obviously. Keep up the great videos.

[Angela-necy]

Whole video I kept thinking "who is sitting on the couch behind you??" haha!! Great video as always!! I'm a solo female traveler and planning a year-long (or more) travel in about 4 years.This helps me anticipate my expenses and plan ahead!