# The Traveling Saver



## LionMG (Dec 21, 2012)

I have the unique opportunity to be able to work from wherever I want as long as I have my laptop and internet. I'm also young, single, and I don't feel overly attached to where I'm currently living - Winnipeg (especially right now with this weather. :tongue-new. So I figured... why not to travel the world? My plan is a bit crazy, but considering I'm only 25, I can afford a little crazy right now. Being somewhere I'm much happier will also motivate me to work harder and earn more money. I'm going to stay for long stretches in places where my dollar goes much further, meaning I can live very comfortably while saving as much as I can. The plan is to invest everything and do this for at least a few years, then see where I'm at. If I get tired of it I'll stay home and have a nice nest egg built up earning dividends while I either continue to work, go back to school, or perhaps start a business. 

I'll be keeping my Canadian citizenship and spend several months in Canada still (however many I need to retain health benefits I think. I need to research this further).

My job (or I should say business) is sales based, so my income is variable. My goal is at least $80,000 a year (currently at $50,000 but that's part time and being lazy). I hope to save at least $3,000 after taxes a month. I should mention I have no kids, no debt, no mortgage or car payment (live at home with family currently). I'm frugal and will continue that wherever I am. 

I have yet to invest a single cent! I don't even have a brokerage account yet, nor anything in my TFSA or RRSP. So I have a clean slate. I've been doing a ton of research on the different investment strategies and I think I've decided on a diversified dividend strategy. I just love the thought of having passive income, to either re-invest or use as I see fit. 

The amount I currently have saved and ready to invest is about $35,000. I think what I'll do is continue to research for the next two months - come up with a solid plan, while waiting until that $35,000 is $50,000 and I qualify for the reduced trade commissions at TD Waterhouse. Although I'll keep my eyes on the stocks that I'll likely be targeting, and I may be tempted to jump if there's a low entry point. 

My RRSP room is only $3,500 (I earned barely anything prior to this year) so my first plan of attack will be to max out my TFSA. I'll be going for medium-high risk here, probably REITs and high yield dividend stocks. I want high yields so I can expand my TFSA room and start compounding the dividends as early as possible. As mentioned I'm young and in for the long-haul, so I don't mind risk and if a stock drops I won't be emotional and dump it unless I have to. Then when I have more experience I'll be looking into stock options to further increase gains.

After that we'll see. I haven't gotten that far yet. Likely the same plan (REITs + dividend stocks) for RRSP, and then the same in my non-registered, except no REITs in that.

My aim is total of at least 8% annual yield. I hope to have around $300k in dividend stocks by the time I'm 30. Unrealistic I know, but I'm going to give it a shot!

Anyway, my first destination is Thailand. I'll be visiting there short-term first to see if I like it first, then if I love it it's time to start my long adventure. Let's just say I've never been more excited.

I realize I may sound very naive, so feel free to tear my plan to shreds if you want or offer any advice. I'll keep this updated as time passes. Maybe keeping track of how much I earn per destination, to see if each place has an effect on my earnings by motivating me more, haha. Or a certain place distracting me more. I'll probably end up getting no work done. :biggrin:


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## Pennypincher (Dec 3, 2012)

Hey. I think it's awesome that you have an idea of what makes you happy and you can understand that you are at a point in your life where you can live our your very realistic dreams. I have no experience with your plans, nor do I have that kind of personality, but I am 8 years older than you with two kids and am married, so I am envious that you are about to go on such an exciting adventure. A few things I thought while I read your post:

1.) When you come back, if you come back to Canada, are you going to move back in with your parents? Do you think that is fair to them? Perhaps you have a relationship with them where they are totally fine with it. 

2.) Do you want a family in the future? (not that there is a big amount of control over when that happens)

3.) You definitely need to start saving for retirement and you have mentioned that in your post. The sooner, the better.

4.) Not having lots of "things" that you own is kind of a freeing feeling eh? I miss that.

5.) Is your work stable? Do you want to do it for the next few years?

6.) Did you finish your initial schooling? You mentioned going back. Do you want to get more schooling?


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## twowheeled (Jan 15, 2011)

It sounds like you've read 4 hour work week, but in case you haven't, pick up a copy. It describes in detail the steps to live the lifestyle you describe. I'm jealous, I still can't get past step 1, which is to be able to work remotely. Looking for a business partner by chance? 

The other caution I have is higher risk investments in TFSA can also work against you and cut down your TFSA room. This was the case with me when I first started buying riskier growth equities. It doesn't hurt to start out in a non registered account to make all the beginner mistakes in first. At least you can write off the capital loses. 

The only other advice I have is keep an emergency fund if something goes wrong, and you get injured, sick, etc. All of a sudden you can't work remotely, and have to fly yourself back home. Sounds like good insurance is also in order.


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## Daenerys Targaryen (May 11, 2012)

wow, that sounds like an amazing opportunity, I would love the ability to work remotely, are you guys hiring wherever it is that you work?

on a side note perhaps keep a blog of your adventures, I have a friend who was able to save up 10 grand and spent it backpacking across Asia when she was 25, she started a humourous travel blog about her experiences which generated a decent amount of internet traffic, she's back in Toronto now but she expanded into a few other travel-related websites and is able to supplement her income with the ad revenue


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## Danny (Oct 17, 2012)

*Traveller*

Sounds interesting what type of sales are you in.


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## LionMG (Dec 21, 2012)

*Your submission could not be processed because the token has expired.

Please push the back button and reload the previous window.*

:apathy: I had a long reply written out. Damn captcha...

Well I'll give it another try on the weekend.

Thanks for the replies guys.


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## eulogy (Oct 29, 2011)

A nice practice to do is copying your post to your clipboard before you push the reply button... just for situations like this. It's hard to pour your thoughts into a post, and have to start over again.


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## kcowan (Jul 1, 2010)

Go to the expats board to get an idea of what is involved in the country you pick. Thailand has some visas in place now that make it difficult to get in without equity and a guaranteed salary.

Good luck
http://www.expatforum.com/


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## LionMG (Dec 21, 2012)

Happy 2013 and thanks for the replies. Well first unfortunately I'm not taking on any workers or partners - I'm a lone wolf. I'm a 3D modeler and web designer and I've acquired the skills over many years (in other words many, many hours on the computer stuck in my room - a big reason why I've decided to start traveling). 

*Pennypincher:*

1) I'll still be living some months of each year in Canada with my family (however many I need to keep my health care benefits), and they don't mind. I pay a large amount of rent to my mom currently. I would be living with them either way - if I had gone to school I'd be here year-round. Or I could move out and rent a place in Winnipeg while continuing my work, I can certainly afford it. That was part of my decision process. The thing is - I don't like Winnipeg. I'm unmotivated here. Why pay twice as much for rent in a place I'm unhappy when I can be in a much better condo and live like a king for the same amount of money overseas. 

2) No plans for a family right now. I'll save that until my mid-30's when I've actually lived my life some more. I've only had one relationship - I have a lot to experience yet!

3) Yes definitely. I want to retire very early. Aiming for age 40 - very unrealistic but it's my goal. As mentioned I hope to have 300,000 in dividend stocks by the time I'm 30, then relax a bit and try to start a different sort of business that I can put on auto-pilot. And/or go to school. I love the thought of using dividends to pay for school (Though ideally I'd like to re-invest everything until I retire!).

4) Well yes and no. If I had more things I'd be a lot happier. Right now I'm lonely, without really close friends. I've wasted a lot of my life behind a computer screen. So it's not all sunshine and roses. If I had a girlfriend and friends and a nice car - it would certainly be a lot harder to leave.

5) My work is stable. Although as mentioned it is sales based. So if I stop working, less money comes in. I'll need to be disciplined and make sure I still get in work each day while living overseas. But the sky is the limit when I work hard. I believe if I was to actually put in a 40 hour work week I can earn six figures. 

6) I did not start post-secondary education yet. It was a big part of my decision process. If I go to school I lose my high earnings. I can't waste this golden goose. School can wait until I have a nice nest egg saved up. I'll re-evaluate my situation in 2-3 years. 

*twowheeled:*

I haven't read that book but I'll check it out! Add it to the big stack of investment books I have piling up. I wish there were more hours in the day! Good idea for the emergency fund and insurance. I'll most certainly get travel insurance.

*Khaleesi:* 

Awesome idea about a blog! I'll definitely consider it. I'll have to see how much spare time I have when I've settled wherever I'm staying. I can blog about earning dividends while riding an elephant in Thailand. 

*kcowan:*

If I were to return to Thailand long-term it'd be on a "student" visa most likely. Basically I pay $600 and have to attend a language school for only 2 hours a week. It's good for a year. I'd want to learn some of the language anyway so it'd be perfect. This all depends if I love Thailand when I visit in April for a month. Hopefully I do!


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## mark.goldmanning (Jan 24, 2013)

It's never too early to prepare for retirement.
I think you should estimate how much money you will need per year after retirement so lets say 65 and you live for 15 years.
Lets say 100k per year so that is 1.5million.
Now you need to factor in compounding interest and figure out how much money you will need to save up in your career to have a safe retirement, this is the boring stuff but this way you can figure out how much money you need to earn a year.
For example if you are working yourself *too hard or not enough.*


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## Hobotrader (Feb 10, 2013)

I kind of have this same dream too. In Thailand your living expenses are going to range from like 5k-10k max. I'm picking up daytrading as a hobby/long term career option just so I can crank a profit wherever I am. That TFSA can be handy for you if you're a good trader/investor (though I'm the dude that blew up a 25k RRSP using options contracts). I think it's better to get your travel down while you're young, it's easier to move around in a heavy backpack and you can meet people at hostels at a similar age. I met a dude in Thailand, he studied engineering here in Toronto, the guy quit, became a chef and is just moving around Asia. I met him in Chiang Mai, the hostel was charging 2 dollars a night to share a room, I opted for the air conditioned single for 15 bucks. I remember paying 2 dollars for a pad thai meal. Great times...I've chose trading (and I will admit I suck horribly) because I'm not very imaginative or particularly skilled - I code SAS statistical algorithms for a living. My friends are the 4 hour workweek type, they're more imaginative and creative. With your 3D modelling, you remind me of my best friend who codes as his business, he clocks in over 200k. There are others that just sell Chinese wholesale goods to retail level here and clock 6 figures passive income. It's doable. I'll have to pick up that book. I find that I can't make enough to invest how I want.


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## peterk (May 16, 2010)

If you don't mind could you elaborate a bit more on your job background? I'd very much like to learn a location independent skill, where I can work at it part-time 10-20 hours/week for the next ~5 years and then transition out of my "career" into the location independent work.

Summers in Canada/Europe and and winters in South America and Southern Asia. But how to make this dream a reality. hmm...


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## marina628 (Dec 14, 2010)

There are many jobs online , you can get paid some good money to write articles or be a blogger for some of the larger websites or you can get paid to moderate forums .If you managed to login and post on this forum you can do these jobs easily.Finance niches are one of the highest paid out there especially UK based financial websites.
When our youngest turns 18 we plan to spend 4 months or so living in another country as I work remote although I maintain a office about 5 miles from home for my staff.


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