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

Warren & Julie Travel - Slow Travel Nomad Expats

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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!
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Financial Freedom: Investing for Early Retirement Abroad
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The Reasons We Left the USA to Retire Abroad
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Living in Europe on a Social Security Budget
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11 сен 2024

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Комментарии : 92

@javiesdamon611 2 месяца назад

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?

@dannywilson258 2 месяца назад

Think about actions you’re taking that might be harming you such as carrying over credit card debt each month.

@robertharry6971 2 месяца назад

I agree with the reply above. I also think you should think about steps you can take to start. Start somewhere. Anything is better than being frozen even

@robertdylan8029 2 месяца назад

In my opinion, create a budget including income and expenses, do this with a financial advisor.

@robertdylan8029 2 месяца назад

Jennifer Alaine just do your own research you’d find details.. The bear market isn’t so bad if you know where to look.

@dannywilson258 2 месяца назад

who is this jennifer , how can I contct?

@OtonasKancleris 3 месяца назад

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.

@OtonasKancleris 3 месяца назад

Linda Wilburn program is widely available online.

@redeyesband 3 месяца назад

Productivity is never accidental; it is always the result of careful planning, dedication, and consistency.

@mr.ftravels3295 3 месяца назад

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.

@SeniorSparkle 2 месяца назад

@mr.ftravels3295 Thank you for sharing. As I watch these videos I often wonder about people with pensions...as that is how I plan to retire early. I too think $3k a month is plenty for me too. I suppose everyone's situation is different.

@FinancialFreedomLifestyle 3 месяца назад

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.

@Reza16888 3 месяца назад

You are smart!

@aferrari5538 3 месяца назад

I’m very impressed that you are retired before most people not even start their career 😄nice! I like that!!!! Congratulations 🍾

@FinancialFreedomLifestyle 3 месяца назад

@@aferrari5538 Thank you for the support!

@nikkian9254 3 месяца назад

I'm inspired! I'm planning on "retiring" at 34/35. I'd love to be able to work on creative projects with the possibility to monetize it but don't want the pressure of having to do hoping to save enough to live off passive income in a more affordable country! Curious what things ya'll do to earn income without working the typical daily job? Ty!

@whatsup3270 3 месяца назад

Not all retirees are bums, but some are.

@RainbowTwister-rs2fe 3 месяца назад

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.

@sbkpilot1 3 месяца назад

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.

@atomicvagrant7686 3 месяца назад

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.

@WarrenJulieTravel 3 месяца назад

Totally agree, you need to test the concept without being in tourist mode.

@billburch5516 3 месяца назад

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.

@WarrenJulieTravel 3 месяца назад

Thanks for your comment, we are glad you enjoyed it 😁

@MainStInformant 3 месяца назад

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.

@WarrenJulieTravel 3 месяца назад

Thanks for watching and letting us know about your plans. Unless you plan to make money after you move abroad, make sure you are feeling confident in your financial decisions. If you have a financial background you’re ahead of the game.

@kims1912 3 месяца назад

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.

@JayandSarah 3 месяца назад

That path to income on YT is a long and arduous one. You need to spends years building it before you ever need to generate income from it for anything. Only 9% of YT channels ever reach the criteria to monetize. It is far more difficult and time consuming than many people realize.

@WarrenJulieTravel 3 месяца назад

Great point made!!

@emox6400 2 месяца назад

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!!

@WarrenJulieTravel 2 месяца назад

That is a wonderful problem to have! We don’t have a $3k budget per month. We actually live on far less than our budget. The traveling by car is done for our dogs. Our rescue dog grew much larger than we expected and cannot go in cabin. We have chosen to travel by car for this reason. With this budget, you will have a luxurious existence. If we budgeted $12-$15k per month, we would substantially increase our lodging budget. Since flights are not part of our lifestyle at this point, it is hard to say whether that could be improved or not with a higher budget, but I would assume it would allow for business class travel etc. it’s very easy to spend substantially more on restaurants than we do. I prefer to eat at home more often especially in highly touristy cities and places as the food is sometimes subpar. It’s extremely easy to spend a lot more in certain countries such as Switzerland or the Scandinavia region. Our main audience is not living on $12k- 15k per month. We did not set out to become a budget channel, but once we began this lifestyle and realized how much less we actually truly needed to live we decided to share our experiences with other people. We rarely spend 40% of our expected monthly budget that we budgeted at retirement. We slow travel, living mostly like locals, we didn’t set out to be full time tourists or fast travelers. So if you do want to tourist or fast travel you can easily max out your budget, but then you miss out on the experience of understanding the culture and meeting people. Thanks for watching:)

@SkeetPowers 3 месяца назад

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.

@WarrenJulieTravel 3 месяца назад

The raspberries and the pulle cheese are fantastic. I do believe that the raspberries are the best I’ve ever had.

@Adnanhasb1 2 месяца назад

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

@WarrenJulieTravel 2 месяца назад

You're so welcome! Thanks for watching:)

@nairamirzoyan9910 24 дня назад

Smart and nice people 😊

@tintinet 3 месяца назад

"the average return for 20-years ending in 2015 was 8.2% for the S&P 500, while the average investor only earned 2.1%. The hypothesis is: Too many investors stop investing when the market is down and/or try to time the market." reality bites, my dudes!

@vanhalen45 3 месяца назад

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.

@InvestingWithAdamK 3 месяца назад

Doesn’t sound like enough. If sold everything that’s about 60,000 a year to try to live off of. Tight budget And, I’m using all 1,500,000. Assuming 8% return is super aggressive and unlikely to do consistently. Generally people use 4%

@WarrenJulieTravel 3 месяца назад

I think you are misunderstanding the 4% rule of withdrawal vs 8% investment return from the market.

@InvestingWithAdamK 3 месяца назад

@@WarrenJulieTravel No I’m not. I do this for a living. 8% is no guarantee. It is an average that the equity market has had in the past. One shouldn’t assume that is reliable return on investment

@termita358 3 месяца назад

60 k a year in Europe is not a tight budget.

@InvestingWithAdamK 3 месяца назад

@@termita358 Here now. I guess depends on how one lives. Be tight for me.

@WarrenJulieTravel 3 месяца назад

@@InvestingWithAdamK for most of our viewers traveling the world it’s a solid budget. I know you’re new to the channel looking at just the retirement angle without the context. Look at a few of our videos in our expat interview playlist. In the USA it would be tight. I do appreciate your input, but early retirement in the USA is much more costly than abroad, most our viewers are looking to live abroad or our currently abroad. Thanks

@caroljordan4316 3 месяца назад

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 😊

@WarrenJulieTravel 3 месяца назад

Mycalculators.com Thank you for the compliments! Very kind:) Thanks for watching 😊

@1JackStClair 3 месяца назад

Great video. Very helpful

@WarrenJulieTravel 3 месяца назад

Thank you 😊

@LeoHipolito 3 месяца назад

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

@WarrenJulieTravel 3 месяца назад

Thanks for watching:)

@Reza16888 3 месяца назад

Congratulations on becoming a financial advisor! 🎉

@WarrenJulieTravel 3 месяца назад

Never, don’t even joke… do your own research etc…

@Reza16888 3 месяца назад

@@WarrenJulieTravel 😁

@livingworkingoutsidebox 3 месяца назад

I enjoyed the breakdown. Very helpful. 👍

@WarrenJulieTravel 3 месяца назад

Thanks 😊

@joseeduardobtesh1651 3 месяца назад

I disagree the 8 % interest/stock market return. We had a nice ride till now. The next 10 years we may have a significant correction.

@WarrenJulieTravel 3 месяца назад

It’s possible for a correction. Over the long term 8% is 2% below the 30 year average, I conversely provide a below average 30 year forward outlook.

@ckangas5674 3 месяца назад

@@WarrenJulieTravel That is only true if you are not withdrawing money and are in accumulation. In decumulation, you run into sequence of return risks. Historically, this has meant a ~4% safe withdrawal rate (in real terms; so starting at 4% and adjusted upwards for inflation). Hence the 4% rule. Yes, you will likely end up with much more money in the end than you started with, but this is necessary for sequence of return risks if you have a high equity allocation. If you want more certainty you'll need to add bonds which are closer to a 2% real return at the moment.

@CraigRiley-tv6nt Месяц назад

How about a realistic retirement source not million plus thai

@Coast_to_Coast 3 месяца назад

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

@WarrenJulieTravel 3 месяца назад

Mycalculators.com They are free to use. Thanks for watching:)

@nncadi1 3 месяца назад

Great video!

@WarrenJulieTravel 3 месяца назад

Glad you enjoyed it! Thanks for watching:)

@nikkian9254 3 месяца назад

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!! 🙏

@WarrenJulieTravel 2 месяца назад

You have many years to stretch those funds. I am reluctant to advise on this particular scenario. I do think you have potential income streams as long as the real estate investments continue to pay. A side job will certainly assist in providing additional cash too. 7-10 percent would be a good return. Thanks for watching:)

@nikkian9254 2 месяца назад

@@WarrenJulieTravel Ty Warren&Julie 🙏☺️

@theroadtoroyalties 3 месяца назад

Market is up over 12% in the last 2.5 years

@termita358 3 месяца назад

Exactly...in an annualized basis that is about 5% while we had 8% inflation. their analysis is spot on

@WarrenJulieTravel 3 месяца назад

Keep in mind I mentioned from the Market High in 2021, as my starting point. The old record 2021 high to current market level as of yesterday.

@theroadtoroyalties 3 месяца назад

@@WarrenJulieTravel yes I understand… S&P 500 up over 12% since then but maybe that is not what you reference as the market… love your videos by the way.

@mitchmclain4809 3 месяца назад

Why not live off dividends?

@WarrenJulieTravel 3 месяца назад

It’s possible, especially if they were choosing to stay in one country. I spent a bit more time on the dividends in our video on investing. Looking at the amount of 8% return that could be a combined 4%dividend and 4% gain. If he chose to live on less he could stretch that $500k out indefinitely. There were many versions of this retirement we could consider.

@adriankung1625 3 месяца назад

@@WarrenJulieTravel My thoughts exactly!

@JayandSarah 3 месяца назад

Love how the financial bots post in here eh Warren?

@WarrenJulieTravel 3 месяца назад

They just keep coming!

@JayandSarah 3 месяца назад

@@WarrenJulieTravel it's all "engagement" as they say!

@adriankung1625 3 месяца назад

Those are so hilarious! How obviously transparent (and oblivious to how transparent) they are. Suddenly 8 or 10 commenters are blowing smoke about some advisor no one's ever heard of before. Lmao! Great topic btw -- semi or mostly retired *while building* an income portfolio, myself. Ie -- currently living off of less than the average 3K/mo. my portfolio generates and reinvesting the remaining (6K/annually) as soon as I see good price points in (usually funds) that meet my criteria for both earnings growth and yield. My biggest concern around retirement is the value of the (Canadian) dollar vs USD. Cheers!...from North Vancouver