You’ve probably seen me in the Shame and Comedy forum, but this is my first time venturing into other forums. I’m ready to throw down the gauntlet. I’m 32 years old, just had my first (and likely last) child with my wonderful wife, and this made want to put down more concrete retirement plans once my kid is off to college. I always do better in reaching a goal if I can visualize it in every detail. Unfortunately with FIRE that can be pretty vague – first retire, then figure out what you want to do that gives you pleasure, something you’d do anyway even if you didn’t get paid for it.
For me that something was travel. I’ve already been to 16 countries (not counting my birth country, Russia, and my current home country, California, USA), and knew I wanted to see the world, and more of it. The unfortunate thing about living in the US is that it is difficult to see the world in anything resembling a cheap way. Airfare even between the states is obnoxiously overpriced. I’ve been reading several travel blogs for a while, including a gentleman that is retired in his mid-30’s, rents an apartment in a small Israeli village, and travels the world about 75% of the time, usually on a fixed and tight budget. I decided that in retirement, I need a frugal “home base” from which to travel, and extensive research has led me to Kotor Bay, Montenegro.
Why Montenegro? Well, for one, it’s beautiful. Stunning. Google Kotor Bay, and see what comes up in Google Images. Two – the weather is very much like San Diego, my current home city (and much nicer than Moscow, my birth city). Three – travel is cheap. Dirt cheap. A direct flight from Tivat airport to Moscow can be had for as little as $100 one way, I can get as far as Stockholm for $300 flight round trip. If you get to Belgrade on a direct flight on Montenegro Airlines – it’s a huge hub for WizzAir, the lowcost airline that can take me all over Europe. I would say airfare would cost me 50% less per mile than in the US. Venice can be reached by car in 1 day, Munich in 2, Paris in 3 days. I can drive to Barcelona in 3 days as well, along the French Riviera coast, making for perfect roadtrips. All in all, I plan to be gone in some travel at least 50% of the time.
Last but not least – property prices. $400,000 buys you a small 2-bedroom condo in San Diego, but a seaside villa with a pool in Montenegro (Example attached, check more out on montenegroprospects.com). Cost of living is 54% less than San Diego, crime is almost equal, medical care is meh if it’s government and excellent if it’s private
Anyways, I’m throwing down the gauntlet. In 20 years, when my kid is off to college, my wife and I will move to Montenegro and live out our travel dreams. We will both be 52 years old by then, and we plan on actively travelling until at least age 75. By my calculations, I should be able to do this with as little as $500,000 saved in various investments (funds, 401K) and several rental properties in San Diego (we currently only own the condo we live in but plan on getting another rental property in the next 2-3 years).
Thoughts? Questions? Ask away.
Please see attachment below for an example of current real estate prices. Villa - $300K - $1m, house $150K-$400K, 2 br apartment - $80K - 200K