How Do I Know When I Have Enough to Retire? | Early Retirement Travel Abroad

Today we answer the question, How Do I Know When I Have Enough to Retire? Are you wondering if you have enough money saved up for early retirement and travel abroad? In this video, we tackle this question head-on by sharing a financial situation scenario and offering advice based on our experience as an early retirement full time travel couple. We provide insights on what is sufficient enough for retirement and full-time travel. Join us as we discuss retirement savings, financial planning, and how to determine if you are financially ready to retire for full-time adventures. Let's dive into the world of retirement readiness and explore if you have enough money to fund your travel dreams!

🎬 𝐖𝐀𝐓𝐂𝐇 𝐎𝐔𝐑 𝐎𝐓𝐇𝐄𝐑 𝐕𝐈𝐃𝐄𝐎𝐒:
Financial Freedom: Investing for Early Retirement Abroad

The Reasons We Left the USA to Retire Abroad

Living in Europe on a Social Security Budget

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#retireearly #slowtravel #livingabroad #europetravel #travelcouple #expat #expatlifestyle #fulltimetravel #lifeabroad #earlyretirement #retirementplanning #howmuchtoretire #expatlifestyle #retirementstrategy

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© Warren & Julie Travel - Slow Travel Nomad Expats

[javiesdamon]

The avg. American is having a tough time, I know I am not alone. There are others in same position as me. By certain statistics: 22% of americans have no retirement savings. 64% are worried that they will not have money in latter years while 47% of adults who are not yet retired think they have to work part-time in retirement. How can I best grow the 100k I have saved seperately outside retirement access which of course had depleted over the years?

[OtonasKancleris]

Wow. I am blown away by this presentation. I was an insecure 59 year old on SS in January 2018 when I started buying Bitcoin/crypto. Everyone though I was irrational. Most still do. I put my income in every month and watched the value drop each month but for some reason really believed in Bitcoin and alt coins/blockchain even though I don't totally understand. Finally, the crypto market started turning around and I am astonished at the value of my crypto currency portfolio today. I engaged in active trading and managed to grow a nest egg of around 2.3B'tc to a decent 27B'tc....At the heart of this evolution is Linda Wilburn, whose deep understanding of both cryptocurrency and traditional trading has been instrumental. Her holistic approach to investment and commitment to staying abreast of market trends make her an invaluable ally in navigating this new era in cryptocurrency investment.

[RainbowTwister-rsfe]

I reckon most people use either the S&P 500 or total US stock market rather than the DJIA. Using the S&P, the market has performed much better in the past 2.5 or 5 years than stated in the video. About 86% in 5 years and over 12% in 2.5 years.

[mr.ftravels]

I am a slow traveler. I retired at 56 with 2 pensions. I am a minimalist and single. I have been tracking everything. My daily rate is easily under $100 a day or 3k a month. With social security this year (age 62) and 5% return on investments (just cd’s), I could live on $250 a day. I won’t, but I could. It gives me options. I could live on cruise ships or all inclusive resorts. Right now it is just hotels, long stay apartments, and Airbnb’s. 2k a month is possible. 3k is better and 5k or more means you can almost live anywhere comfortably. Also, at 75 I predict that I will bank 1 million. Advice, micro manage your investments, no debt, and enjoy a life of travel.

[billburch]

What a great video you have produced here! Specifics, well presented, are the reason many of us watch your channel. And specifically those of us who have yet to make the leap, this topic is hugely important. Fantastic.

[FinancialFreedomLifestyle]

We "retired" at 28 with the understanding that you can always make money when in early retirement with your hobbies and passions. Since "retiring" our net worth only continues to go up. Great content as always guys.

[LeoHipolito]

Yes great content, format, please do more like this ❤🎉

[Adnanhasb]

Thank you for making it more realistic and helping with the mindset shift

[MainStInformant]

Great video. I have a financial background and love everything financial related. Also aiming to retire early, hopefully next year but less than 3 years. It's very doable to retire oversea with US incomes, which is a surprise to many people if they actually sit down and do the calculations. It comes down to how you want to live your lifestyle. I am 47 this year and do believe I can retire now, but I don't think I will be able to sustain a lifestyle I want in retirement for mare than 20 years, especially I am conservative when it comes to savings vs. future uncertainties. That's why I am patiently waiting for my investment to mature before I call it quit. Inspired by you two, my wife and I are planning to retire in Europe with our pup and travel by car. Hopefully, we get to meet in the very near future. Keep up the contents, these financial videos will inspire many people to follow your foot steps.

[livingworkingoutsidebox]

I enjoyed the breakdown. Very helpful. 👍

[sbkpilot]

Couple of points to note - first as mentioned nobody uses the DJIA as it's not diversified. Use the S&P 500. Next, forward returns for the S&P 500 are projected to be dismal as the US market is actually very expensive in terms of Shiller PE. So it's not likely going to catch up to the 10% trend.

We're currently at 35+ on that metric and the 100 year median is around 15 so the market is about twice as expensive as history. These things mean revert in the end. The important thing here is to diversify - International, Bonds, Small Caps which have much lower valuations than the S&P 500 currently.

So assuming 8% in a linear way going forward isn't prudent. I would just assume 1-2% after inflation for the next 10 years as a conservative estimate.

[caroljordan]

Can you guys share the calculators that you use to work out the projections. I watched your video on your cost of living but have been curious how much higher would your cost of living be if you didn’t have your own place in Montenegro or your own car. Thanks for all the effort you put into your videos and Julie I’m loving the new haircut you are looking great 😊

[emox]

I love your videos but they don't really show us what our slow travel early retirement could look like as we will have $12k-$15k a month to spend. Obviously that's a great problem to have! But nope, no clue what that might look like!

Would you mind telling me where you'd spend more money if you could? Better lodging? Staying in more desirable spots? Eating out more? Flying more than driving?

Thanks!!

[Reza]

Congratulations on becoming a financial advisor! 🎉

[SkeetPowers]

Serbia is a good place if one has a limited budget. The women are accommodating. The wine is good and let's not forget the slivovitz. Since it is an agrarian country lots of good fruit and vegetables. They are especially known for their raspberries. I am sure that you ate pulle? For those who don't know, that's cheese made from donkey milk.

[kims]

You can always slow travel for as long as you can afford it then go back home and start working again, or generate income with a YT channel or become a digital nomad. With everything going on now in the world, I'd say don't wait to live out your dreams, time is short.

[atomicvagrant]

Anyone thinking of selling their assets and making a permanent move overseas should consider doing a trial run first. At least 90 days, 6 months is better. Especially if you
have limited overseas experiences. Anything before 6 months and your brain is still in vacation or holiday mode. Currently I'm in a SE Asian country
after traveling the world since 2020. I personally know 1 person and know of another (single men in their 60s) who sold it all, moved here and now absolutely hate it. Yes, I know SE Asia is a different animal than Europe/Eastern Europe but these men don't know what to do with themselves for the time being. Living overseas is a great experience for many people, including myself. Anyway, that's my 2 cents.

[nikkian]

First time on your channel! thanks for sharing this! ☺️ I'm planning on "retiring" at 34 with $500, 000 (I also own a condo in the west that my mom lives in and will pay the rent/mortgage on, and i also own a property in Thailand that i plan to make my home base and travel back and forth). I might spend like $1000-2000/mo. I hope to start a creative business income stream but not expecting much from it at least to start. Assuming I dont have any other income streams, do you think $500, 000 is enough til im 65 before receiving social security? (and what if i dont withdraw but receive 7-10% dividend income). Ty!! 🙏

[Coast_to_Coast]

What calculator did you guys use in the video? Is it free to access?

[vanhalen]

The comments below illustrate that making a claim about expected stock market annual returns is speculative. I am not going to touch that one. But, I would like to say that for those 50 somethings who do not have $1million plus in investments/home equity, this requires a different analysis....at least one based on a reduced annual withdrawals (understandable), a longer than 11 year term, introduction of social security into the calculation and the possibility that funds will exhaust after say 20 years. I have done these calcs in a spreadsheet.... and assuming that someone in the household is still working (modestly)...even $400, 000 could last 20 years. Oh yeah...my assumptions include geoarbitrage living.