Mr. and Mrs. Nomad Numbers
- Website: Nomadnumbers.com
What You’ll Get Out Of Today’s Show
- As thirty-somethings, Mr. and Mrs. Nomad walked away from lucrative jobs and are living a financially independent lifestyle traveling the world.
- While researching ways to travel long-term, they stumbled upon the concept of FI and discovered that despite being naturally frugal, their investments were suboptimal.
- With substantial investments in single-stock tech companies, they opted to sell the stocks and diversify into low-cost index funds, paying the capital gains tax rather than risk another huge swing in stock valuation.
- They projected $40,000 per year would be required to travel full-time and planned to have two years’ worth of expenses available in case of a down market year.
- Travel accommodations account for approximately 30% of their expenses, which they keep low by staying in locations for 4-6 weeks using Airbnb discounts and negotiating the price.
- For traveling between countries, they save money using travel rewards and have kept transportation to 6% of their budget.
- They travel with only carry-on baggage, so Mrs. Nomad adopted the concept of capsule wardrobing, where 10 different articles of clothing can create 40 different outfits.
- Between groceries and dining out, food accounts for 41% of the budget.
- For health insurance, global expat insurance costs them $3000/year for catastrophic coverage.
- Having a community is the biggest challenge of the expat lifestyle, so they make an effort to reach out to expat groups online. In addition, their blog helps them to connect with like-minded people.
- Their five-year plan includes creating a home base to spend 6 months a year living in while focusing on a passion project.
- Mr. Nomad is building an app for tracking expenses in different currencies, which long-term will also help determine the true cost of living in countries all over the world.
Resources Mentioned In Today’s Conversation
- Mad Fientist
- Retire Early Lifestyle
- ChooseFI’s 3 Credit Card Strategy
- Mint Mobile
- ChooseFI Travel Rewards | Ep 009
- Ultimate Guide to Credit Card Travel Rewards series
- The Life-Changing Magic of Tidying Up by Marie Kondo
- InterNations expat community
- ChooseFI Expat Group
- Nomad Numbers Travel Tool App
- Health Theory by Tom Bilyeu
- The Peter Attia Drive Podcast
- Libby App
Top Travel Rewards Offers
Top Travel Card
Ready to unlock a world of free travel? Start with the Chase Sapphire Preferred® Card.
Details: $95 annual fee | Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening.
Most Flexible Travel Card
The Capital One Venture Rewards Credit Card can be used to offset almost any travel expense.
Details: $95 annual fee | Enjoy a one-time bonus of 75,000 Miles once you spend $4,000 on purchases within 3 months from account opening
Best Card for Side Hustlers and Business Owners
Side hustlers! With the Ink Business Preferred® Credit Card
you can new Cardmember Offer! Earn 100,000 bonus points.
Details: $95 annual fee | New Cardmember Offer! Earn 100,000 bonus points after you spend $8,000 on purchases in the first 3 months from account opening.