Podcast Summary: "How to Travel the Country and Start Living Before Actually Being Fully Retired"
Podcast Information:
- Title: Ready For Retirement
- Host/Author: James Conole, CFP®
- Episode: How to Travel the Country and Start Living Before Actually Being Fully Retired
- Release Date: December 31, 2024
Introduction
In this enlightening episode of Ready For Retirement, host James Conole, CFP®, engages in a profound conversation with a couple, LJ and Kelly, who exemplify the art of embracing the retirement lifestyle before officially retiring. Their unique approach to living—traveling across the United States for an entire year while maintaining their financial stability—offers listeners a blueprint for achieving a fulfilling and adventurous retirement.
Starting the Journey: Early Adoption of Retirement Lifestyle
James Conole [00:00]:
"Today I talked to a couple who didn't wait until they were fully retired to start living the retirement lifestyle that people dream of."
Kelly [01:32]:
"We sold our house in Bass Lake in 2019 up near Yosemite, moved to San Diego for better weather... when we hit the road in our Subaru Forester and traveled for a whole year throughout the entire country."
LJ and Kelly didn't wait for the conventional retirement age to embark on their dream of extensive travel. Instead, they took decisive action during a period of personal transition—selling their home and taking advantage of the pandemic's unique circumstances to explore the country.
Planning and Logistics
James Conole [06:00]:
"How much of that was pre-planned... and how much was just taking it day by day?"
Kelly [06:22]:
"It was pre-planned. I saved my plans on paper, mapping out routes, ensuring we didn't drive more than four to five hours a day..."
Their approach combined meticulous planning with flexibility. They charted their route to Portland, Maine, strategically visiting national parks and areas with friends and family. By leveraging hotel loyalty programs and booking Airbnbs in advance, they optimized their travel expenses and accommodation logistics.
Financial Management
James Conole [14:18]:
"Most people's big question... How did the cost compare to staying in San Diego?"
Kelly [14:48]:
"San Diego is very expensive. Our Airbnb was similar to our former rent or even cheaper."
LJ [15:10]:
"We sold our house and put everything in storage, saving approximately $15,000 a year in maintenance and utilities."
By eliminating the costs associated with homeownership—such as mortgage payments, property taxes, and maintenance—they were able to allocate funds towards travel. Additionally, cooking meals in Airbnbs and minimizing dining out further controlled their expenses. Their strategy demonstrated that with careful planning, traveling domestically did not necessarily incur higher costs compared to maintaining their residence in San Diego.
Challenges Encountered
Kelly [17:52]:
"Our transmission was blown in Savannah... Fortunately, the repair place covered the costs."
Kelly [18:20]:
"Health care was another consideration. We were fortunate not to have any health issues during that year."
LJ [08:05]:
"International travel involves more complex logistics, such as dealing with time zones and flight uncertainties."
While their trip was largely smooth, unexpected challenges like car troubles highlighted the importance of having contingency plans. Their experience underscores the necessity of being prepared for the unforeseen, especially when traveling extensively.
Extended Stays: Deeper Engagement with Destinations
James Conole [09:41]:
"What was the biggest difference between prolonged stays versus short visits?"
LJ [10:01]:
"In Washington D.C., for instance, a few days are exhausting with museums. Spending a month allowed us to experience the city more leisurely."
Kelly [12:14]:
"A month gave us the opportunity to explore surrounding areas, like wildlife refuges and state parks, which you miss on short trips."
Extended stays transformed their travel from mere tourism into immersive experiences. By living in each location for an extended period, they could explore neighborhoods, engage with locals, and appreciate the area's culture and environment more profoundly.
Health and Well-being: Prioritizing Physical Fitness
Kelly [21:23]:
"As a physical therapist, I've seen many postpone travel until retirement and end up too unhealthy to enjoy it."
Kelly [24:59]:
"Newly retired individuals often haven't maintained their physical health, leading to injuries when they try to stay active."
Health emerged as a paramount concern. Kelly emphasized the importance of maintaining physical fitness before and during retirement to ensure one can enjoy travel and other activities without physical limitations.
Creative Outlets and Personal Fulfillment
LJ [26:57]:
"Having creative outlets, like playing music, is essential. It doesn't have to be perfect, just something you enjoy."
James Conole [28:46]:
"Don't be afraid to try something new. Maintain a beginner's mindset even in retirement."
Engaging in creative activities provides retirees with purpose and joy. Whether it's music, photography, hiking, or other hobbies, having personal interests enriches the retirement experience and fosters continuous personal growth.
Advice for Aspiring Travelers
Kelly [33:23]:
"Prioritize your budgeting for how you spend your money with the mindset that you want to travel."
LJ [33:57]:
"The greatest freedom you have when you're retired is not caring what other people think."
James Conole synthesized their insights into three key takeaways:
- Know What You Want: Clearly define your retirement goals and plan accordingly.
- Travel While You Can: Utilize available time off to engage in activities you love, whether it's travel or other hobbies.
- Prioritize Health: Maintain physical well-being to ensure you can enjoy your retirement fully.
Conclusion
LJ and Kelly's journey serves as an inspiring testament to the possibilities of living a vibrant and fulfilling life before traditional retirement. Their strategic planning, financial prudence, and commitment to health and personal fulfillment provide a roadmap for others seeking to break free from conventional retirement norms. As James Conole aptly puts it:
"You have to prioritize that you want to travel... Don't listen to the negativity and follow your dreams."
Their story underscores that retirement is not merely a phase to withdraw from work but an opportunity to embark on new adventures and live life to the fullest.
Notable Quotes with Timestamps:
-
James Conole [00:00]:
"Today I talked to a couple who didn't wait until they were fully retired to start living the retirement lifestyle that people dream of."
-
Kelly [21:23]:
"Being a physical therapist, I've always had the mentality that we need to travel while we can."
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James Conole [28:46]:
"Don't go in thinking, I have this script that I have to follow. No, we zig and zag."
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Kelly [33:23]:
"Prioritize your budgeting for how you spend your money with the mindset that I want to travel."
This episode of Ready For Retirement offers a blend of practical advice, personal anecdotes, and inspirational insights, making it a valuable resource for anyone contemplating an adventurous and fulfilling retirement lifestyle.