R E T I R E E A R
L Y L I F E S T Y L E
A Priceless Retirement
A regular feature of The Motley Fool Rule Your Retirement service is our success stories -- profiles of people who have become financially independent. One of the most remarkable stories is about Billy and Akaisha Kaderli, who, at age 38, left their fast-track lives, moved to Nevis, West Indies, in the Caribbean, and started traveling the world. We caught up with the Kaderlis, currently in Thailand, and in this article, they talk about how they live luxuriously on $24,000 per year.
How is it possible?
Housing includes our annual fees, maintenance, repairs, and utilities for our
home in the States, as well as hotel rooms or apartments we may rent while on
the road. Transportation includes gasoline, oil changes, licenses, tires, and
insurance for our vehicle at home, as well as airline tickets, visas, taxis,
boats, trains, and tuk-tuks.
In most cases, housing, transportation, and taxes are the top three areas of cash outlay in a person's economic life. Modifying any or all of them -- which is exactly what we did -- will have a significant impact on your annual expenses.
High living, low costs
All that being said, we have a great deal of fun living on $24,000 per year.
Spending wisely, we get the most bang for our buck. For instance, living in a
resort location, we have access to a swimming pool, tennis courts, and a workout
room without having to lay out cash for their maintenance. We eat high-quality
meats, fish, fruits, and vegetables because we shop at farmer's markets and
watch for the rotating grocery sales to purchase when prices are attractive.
So you think you can't make it on $24,000 yearly? How about $48,000 or more?
All this means is that your net worth will need to be high enough to maintain
these levels of spending.
1.) Simplify your personal infrastructure. Know where your money is going, and decide whether it's worth it to you. Do you want to keep up the pace of your current spending? Make your funding priorities reflect your values.
2.) Plan your retirement tax strategy now.
3.) Know there is a balance in the exchange of time and money. Do you want more money, or do you want more time? This could be a crossroad you face.
4.) Remember, the best things in life are free. Friendships and connection to society are based more on your attention and time, rather than on your money. Watching the sun set with a loved one -- sharing life experiences together -- creates memories that will far outlast anything you can purchase.
About the Authors
Billy and Akaisha Kaderli are recognized retirement experts and internationally published authors on topics of finance and world travel. With the wealth of information they share on their popular website RetireEarlyLifestyle.com, they have been helping people achieve their own retirement dreams since 1991. They wrote the popular books, The Adventurerís Guide to Early Retirement and Your Retirement Dream IS Possible.
For more information about financial independence and travel, visit our book store
In 1991, Billy and Akaisha Kaderli retired from the brokerage and restaurant businesses to a life of international travel. Visit their website at RetireEarlyLifestyle.com, and check out their new book, The Adventurer's Guide to Early Retirement.
Billy and Akaisha continue to journal and photograph their world travels.