Author Topic: Executive who could be FI by now sells all assets for a holiday  (Read 3258 times)

less.creative

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I feel like he had the right idea... But execution just spectacularly failed.

http://www.news.com.au/travel/travel-advice/travellers-stories/i-quit-my-highpaying-dream-job-for-a-year-of-travelling-around-south-america/news-story/b07f7e1bd5f9d1c20f22889f0e2c415e


"And I still have no idea what will become of me when the money runs out. There are just too many moments to savour."


« Last Edit: March 26, 2016, 03:23:07 AM by less.creative »

Nederstash

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Re: Executive who could be FI by now sells all assets for a holiday
« Reply #1 on: March 26, 2016, 02:40:33 PM »
Good for him. I wouldn't dare to do as he did. He or his wife will get another job. Not too worried about them actually.

less.creative

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Re: Executive who could be FI by now sells all assets for a holiday
« Reply #2 on: March 26, 2016, 03:50:04 PM »
Yeah I'm not sure about that.. I certainly wouldn't be selling my $2m+ eastern Sydney home just to blow the capital on one year of fun. Even though the home was mortgaged, he'd still have to have a good chunk of equity.

Selling it and investing to live far more modestly off of the returns, or earmarking only a portion of it for the trip, sure, I'd do that. The whole family could realistically have a year long trip for less than $40k, and could have come home to a modest, paid off home (or investments), stopped working or found less stressful jobs. Now they'll be back to square 1 again with no assets.

I think his desire for change is great and very understandable considering his role. But I would never throw away 20 years of long hard work for a single year.

JoJo

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Re: Executive who could be FI by now sells all assets for a holiday
« Reply #3 on: April 06, 2016, 01:43:01 PM »
Don't agree with putting this in the Wall of Shame.

I quit a 6 figure job, sold a house and car, and went traveling for 20 months.  Best decision of my life. 
Returned only to find a better paying job in a better location.  It was my mini-ER.

Cassie

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Re: Executive who could be FI by now sells all assets for a holiday
« Reply #4 on: April 06, 2016, 04:32:32 PM »
I didn't see where it said that they were spending all their $?  Maybe that is in their blog.

less.creative

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Re: Executive who could be FI by now sells all assets for a holiday
« Reply #5 on: April 20, 2016, 03:45:18 PM »
Well I don't know about you guys, but selling up all of your assets to go on an extended holiday, only to come home afterwards with $0 for the future, and having to become a wage slave indefinitely sounds like just about THE most antimustachian thing you could do. Feel free to disagree with me - by the sounds of it we read completely different articles.

Cassie, the guy stated at the very end: "And I still have no idea what will become of me when the money runs out. There are just too many moments to savour"

Cassie

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Re: Executive who could be FI by now sells all assets for a holiday
« Reply #6 on: April 20, 2016, 06:00:21 PM »
Oops-I somehow missed the obvious:))  I think it is totally stupid to spend all your $ on one year. As others have suggested he could have sold his stuff and traveled for a year and still came home to plenty of $.  It also sets a bad example for his kids.  Maybe he is confident he will find a good job quick but still he will have to work many more years then he would have.

MgoSam

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Re: Executive who could be FI by now sells all assets for a holiday
« Reply #7 on: April 20, 2016, 06:20:51 PM »
I've put many of my trips on hold to save up money. I really want to tour SE Asia but I know that will take a long time, I tried seeing if I could swing a 10 day trip but with my jet-leg (it can get really bad), I know that I wouldn't enjoy the trip. So I'm just planning on doing small trips when I can and less than 9 years have enough to consider liquidating most of my things and traveling the world.