Kelly Benthall and her husband made a bold decision to retire early and embark on a journey to explore the world, leaving behind a traditional view of retirement. At 53, Kelly and her husband chose to trade comfort for adventure, setting off on a unique financial path that involved not leaving an inheritance for their six children.
Restructuring Finances for Early Retirement
Before taking the plunge into early retirement and travel, Kelly and her husband restructured their finances meticulously. They crafted a plan to spend every penny without leaving an inheritance for their children, a decision that was a crucial part of their strategy. Investing in their children's first 25 years provided a solid foundation for them to build their own futures confidently.
Financial Planning and Lifestyle Changes
To ensure a seamless transition into early retirement, Kelly and her husband sought the guidance of a financial advisor. The advisor helped them devise a trustworthy plan that included growing fixed-income resources, fully spending their savings during their lifetime, and transitioning to asset-based fee management. This approach alleviated their concerns about outliving their money.
Budgeting for a Nomadic Lifestyle
With a goal to spend 20% less than their final five years of work, Kelly and her husband adopted careful budgeting practices and travel hacks to sustain their nomadic lifestyle. By following the sun during shoulder seasons and strategically choosing accommodation options, they managed to balance affordability with their desired standards while on the move.
Exploring the World: From Croatia to Mauritius
Since their early retirement, Kelly and her husband have explored various destinations, including Dubrovnik, Croatia; Lecce in Italy's Puglia region; Seville, Spain; and Mauritius. They have adopted a slow travel approach, spending an average of $6,000 a month while immersing themselves in local cultures and savoring relaxed paces.
Embracing the Journey Beyond Travel
For Kelly, the journey of early retirement and world travel transcends mere exploration. It offers her the much-needed space to breathe and disconnect from the overwhelming news cycle. While uncertainties loom about their future destinations, the couple remains open to the beauty of the unknown and the memories they continue to create.
Leaving a Legacy of Diverse Living
Through their unconventional journey, Kelly and her husband aim to showcase to their children that there is no singular path to life. By embracing change, taking leaps of faith, and living authentically, they hope to inspire their children to embrace their unique paths fully.
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By: insider@insider.com (Kelly Benthall)
Title: Early Retirement and World Travel: A Unique Financial Journey
Sourced From: www.businessinsider.com/genx-couple-retired-early-travel-no-plans-leave-kids-inheritance-2025-1
Published Date: Wed, 01 Jan 2025 00:14:01 +0000
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