I have a similar "plan", however plan is in quotes as I'm more geared
toward traveling opportunistically, but here goes ...
Live in hotels/rooms/room shares permanently.
AirBnB's or short-term apartment rentals, possibly house sitting.
Lighten up all possessions, sell house and car.
Sold my condo this month (yay!) and I'm down to a beater car with
a trade-in value < $500.
Rent a small storage unit for the few remaining possessions.
Except for my bicycle, my remaining possessions now fit into a small
closet, and will stay at a relative's.
Stay out of the US for 330 days to avoid ACA penalty.
Self insure for medical in low cost countries.
Similar plans, back in the US no more than 30 days/year.
See new countries on a constant basis.
If I land in a place I like, I might consider applying for a residency
visa, if it's not too onerous.
Able to do Roth conversions to fill up 15% bracket without having to worry about loss of ACA subsidies.
I'd like to do a minimum of three year's worth of Roth conversions to
reduce my RMD. Afterward I can start withdrawing directly from my IRA
No state income tax since no longer resident.
My state has no income tax, so I'll remain a resident.
No property tax or home maintanence.
You don't need to leave the US to achieve this benefit. Even when
I move back, I'm likely to be a renter for life.
Taking pension/Social Security early is now possible since loss of ACA subsidies no longer a concern.
Since I'm likely to move back to the US (most expatriates eventually do, even
if they don't plan on it), I'm deferring Social Security until the latest possible
date. Probably age 70 unless circumstances such as health or taxes dictate
Money from house/condo sale can be invested and earn a return.
Funds will be in short-term treasuries to pay for travel so I can avoid selling
US citizens must still pay tax no matter where they are.
International travel won't affect my tax situation except for avoiding ACA
penalties. A few years of this should benefit my stache.
Must always be moving
As mentioned above, I may consider applying for residency if
I find a place I like. Otherwise, movement will be in 90 day periods,
possibly extended to 6 month visas, where available. I won't feel
Travel can be stressful
It's certainly stressful pre-FIRE, when you have a schedule and
must accomplish everything according to schedule. Post-FIRE,
I would assume it will only be as stressful as I decide it to be.
I've been stockpiling miles/points from various credit cards for
airfare. In almost every place I plan to visit (including Europe),
my living expenses should be lower than my current situation.
Could be. I'm sure to miss family and friends. On the other hand,
I seem to make new friends easily.
Being locked out if real estate rises and you want to come back home and can't afford it when returning.
As a renter, I consider this pretty much a non-issue. Rent too high? Look
for a situation where it's cheaper. With enough flexibility, I could probably
find an affordable place in downtown Paris.
Any thoughts on this plan?
My apologies for this long-winded response. I think we share more similarities
than differences. Further thoughts ...
- In both of our situations, we've probably realized that we can live cheaper
abroad than we can in the US. This is a great advantage.
- I don't see travel as a permanent condition, as I'm likely to land somewhere
long-term. If I do decide to live in a foreign country, there's always a possibility
of returning back to the US. But I want to travel now (soon), while I have the
health and inclination.
- Based on the experience of other ex-pats, you should probably consider the
possibility of returning to the US and how paying into the ACA will affect your
It has been pleasant to share this discussion with a similar traveler-in-waiting.