HOW TO ACHIEVE NOMADIC RETIREMENT LIFESTYLE
If you aspire to explore the world in your golden years, a nomadic retirement lifestyle suits you. This lifestyle is fulfilling but it entails sacrificing certain things to make this dream a reality.
The following questions may help you achieve your dream of having a nomadic lifestyle.
- What should I do with my home? Either keep the house, sell it, or have it rented. If you opt to sell your home, proceeds can give you more freedom to fund your trips to and fro, as well as relieve you of certain bills or debt obligations including insurance and maintenance. If you desire to retain it, you will still need to settle taxes and other fees. If you choose to have it rented, it can give you monthly income to sustain your trips. However, this requires tapping a person to collect lease payments and supervise your property and its tenants.
- What will happen to my items if I decide to sell my house? First and foremost, you need to figure out the things you want to keep and store it a cabinet or a storage unit. In case of a getting a storage unit, rent payments are normally given in advance. Otherwise, they will sequester your belongings to recuperate their losses. As for the rest of your possession, you can sell it, give those away to your loved ones, or donate it to a charitable institution. Consignment stores buy pre-loved items such as bag, clothes, furniture, and shoes. The rest can be sold at thrift stores. If you will donate these items to a charity, do not forget to ask for a receipt and state it on your tax return.
- Do I have bills to settle? Some expenses remain even after selling your home, including lodging and health insurance. Securing policy is necessary if you will travel a lot. It is vital to pay your premiums to safekeep yourself from any unforeseeable circumstances.
- What is the ideal travel budget? Definitely traveling entails spending lots of money. Depending on your financial condition and your preferences, you need to determine your monthly travel budget according to certain factors. While no one stops you from traveling in style, there are cheaper options to visit a place or two without breaking your wallet.
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