Can’t afford retirement? Take a year off and travel, instead. Young adults now include time off and travel among top financial priorities, according to market research.
The lengthy sabbatical appears to be building steam, at least among those privileged enough to pull off months or even years globetrotting, per Skift. A Silicon Valley startup, Wealthfront, just released a tool that will tell you whether or not it’s a good idea, financially speaking, to take a year and see the world.
Stressed about work and finances? Hit the beach!
The company’s research found than an increasing number of young adults listed “take time off to travel” ahead of nearly every other financial goal.
Bloomberg interviewed a couple who spent $40,000 to take off from their job at Dropbox, Inc., visit 25 countries and work on farms in Slovenia and Patagonia.
Wealthfront’s app now includes analysis of long-term vacations and sabbaticals. Image by Wealthfront.
“You only have one life. As a human being, you have to stop and refresh, the globetrotter told a reporter.
Wealthfront’s new app can take in information about savings rates, salary expectations and cash and spit out a monthly budget and affordable trip length.
Previously: Round-The-World Trip For Man Who Found Woman With Ex’s Name Ends
Of course, at this blog, we are all about helping people cut costs out of the expensive necessities in life, like flat-bed business class seats.
If the hypothetical couple in this Bloomberg article would have used the 100,000 points currently available through the Chase Sapphire Preferred and Reserve cards, they could have probably travelled an extra two months.
Travel Rewards Cards (Like These) Will Take Care of the First Part of The Sabbatical
Of course, planning such excursions is contingent upon an important assumption: retaining or beating a former salary after living for a year on faraway farms.
That’s on you.
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4 comments
Why pay wealthfront to do my investing when I make 23% return. These guys know squat.
Early 30s with a combined net worth of $187k? bwahahaha..
Good luck retiring well. Maybe they’ll get lucky when Dropbox IPOs.
You need app to telling you whether you can go on long holiday? That is sad.. People wont be able going to the toilet unless the app will tell them so.
Ridiculous
I admit that’s a good idea to make a year-off and travel from time to time instead of postponing all the living for retirement. However, I still feel sceptical about that idea. It might work well for the US, and other rich countries across the globe, but what about others? Let’s say Ukraine, one of the cheapest places to travel. I myself have been there twice and loved it. But have a look at how locals earn and live. An average person gets $3,500 per year, which is enough to live or rather survive there, but not enough at all to take a year-long break from work and travel around the world. Thus, the idea seems a bit Utopian and far from being universal.