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H1B 🐠: how do you find extra income?
Good or bad time to head out on parental leave?
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You’re in a very rare position where time and money is dramatically on your side. Yes - do it. Ideally with other people so you can make new connections and be social. There’s many group trips out there. But, you might also find investing in relationships of friends and family close to you may be more fruitful than exotic travel with strangers. Maybe also see if you can plan something with them.
Without contributing another dime you have enough for retirement. You just need to have enough maintenance income to not dip into that 500K investment pool.
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Get out of here RSM, this wasn’t necessarily a financial planner question as much as it was a personal opinion / career question among career driven, smart people
I raised two sons and left the U.S. at 52 to travel the world for nearly two years—visiting 20 countries and living for extended times in New Zealand, Portugal, El Salvador, and Colombia. Along the way, I took a 1,500-mile road trip down Australia’s east coast from Cairns to Sydney in a campervan and checked Machu Picchu, the Galápagos Islands, and the Great Barrier Reef off my bucket list.
I started planning my solo journey years earlier—back when my youngest son was 12 and left for his first college tour. I decided then that once he graduated, I wouldn’t wait until retirement to start living my dreams. Why wait until a time when I might not have the energy—or even the desire—to go? I didn’t want to go before marriage and motherhood either, but my wanderlust grew right alongside my children.
By the time I took off, I was debt-free and had more than enough saved to live anywhere and return home anytime I chose. My advice? Follow your heart. If you dream of something, do it. I refuse to die with regrets. Years ago, I made a promise to myself never to be one of those people who postpone their dreams for “someday.” I live life on my own terms—everything else has a way of working out.
So I didn’t travel at all for my first 5 years after grad school and just grinded it out. While I was doing this I missed many experiences I can never re-create now since all my friends have young kids.
My sacrifice gave me a 7fig net worth by 30 but looking back I could have had more balance.
If you take time off also use it to educate yourself in books on self improvement and consider starting a business so then you can learn and grow while also exploring the world.
I did this exact thing not once but twice in my twenties, and I just reached a net worth of $500k at 29. So two years off did nothing to impact me financially and it was the best thing I’ve ever done. Do it now, you will never regret it.
I traveled for almost a full year both times. No concerns, after I did it the first time I was hooked and knew I’d quit to travel again. The first time, I had a job immediately lined up when I got back (returning to my previous firm.) The second time, it took 5 months but not all of that time was spent hardcore job searching. I went all over Latin America, Europe, and SE Asia.
Yes, do it! You are in the perfect position to be able to do this. If you are able to not have rent or mortgage payment while you travel, even better! I took two 6-month breaks to travel in my 20s. Felt like I needed to go back and focus on my career and building wealth. Now at 33, wishing I had taken more time as financially it didn’t hinder me at all and I could have afforded even more time away. Live!
Yep do it while you’re healthy and can afford to do it . I don’t quite get the mentality of people who want to leave travel for retirement, my take on it is that your options to travel reduce significantly in retirement due to health reasons .
I'm planning to do this next year after my project ends. I want to see it through then take time off, something like 8-12 months. Don't have quite a much as you but getting close to 400k.
You should do it!!
Well first I would suggest you not worry about your financial position as it is “compared to peers.”Second, $500,000 invested now at your age in an index fund will be worth many millions later and allow you to retire much earlier than is normal.
I understand you’re tired of working now but it’s only gonna get worse. I recommend you plow that $500,000 into the market. Keep working now and do everything you can to retire as early as possible.
To satisfy your wanderlust, take three or four weeks off to see a part of the world that you really want to explore now; then, get back to work for a while. You can rinse and repeat/do that every year. By doing so you’re not forgoing future financial stability and the ability to retire early while still getting to enjoy the world while you’re young.
C1:Hello?? The $500k would be used to fund the travel which is exactly why I am telling her not to do this!!
I did it when I was 24/25. It was one of the best years of my life. You’ll need to start looking again a few months from when you plan to return. Expect some questions and raised eyebrows. Eventually, I found a position that paid slightly more than the one I left. For a while, I left my apartment as-is and used it as my base. I had a roommate so that helped. When the lease expired, I just put all my stuff in storage.
A little over one year. I didn’t have nearly as much save up as you. I would still do it all over again. I did a mix of local (road trips), domestic, and international travel.
Yes, do it! I did not and regret it. At 42 I feel like we cannot do this anymore. It’s too risky and our life is too complicated. Read Die with Zero as it has an interesting perspective on this. Congrats!
And yes , die with zero is an awesome book
Absolutely do it! You won’t regret it.
There will always be jobs.
Your take is mistaken. To all those who say go ahead and do it now, I hope you enjoy working until you’re 80 as that is the risk you are taking
Do it. I took 2 months at 29 and wish it had been longer.
It’s interesting all the people who are saying do it are very far from retirement. I’m 55 trust me, you will regret it.