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In 2015, I sat on the beach on our final night in our favourite little Spanish town and mentally committed to getting my family into a position where we could earn and invest money regardless of location.
The sole driver of that was to be able to return to live in Spain, a country we absolutely adore.
At first, I called the plan my ‘semi-retire’ early plan, because, at the time, traditional FIRE (is that a thing?) was all about saving half of your income (or more) for ten years then retiring.
I was a mum of 2 little boys and had no desire to go back to regular work for ten years until they were teenagers before calling us financially independent. There had to be another way.
‘Working out a way of having time freedom while the kids were young and financial freedom in the future was the goal’
We don’t need both at the same time, but we need both.
We came back from Spain, downsized to our small and cheap house (which we’d previously owned as a rental property) and my husband proceeded to get a job close to home with a base rate just above minimum wage.
I stayed home with two kids and tried to figure out how the hell we were going to make it happen.
Planning for success
I devised a rough plan.
1. Pay off our small and cheap home so we could rent it out when we travel – giving us a small income of $1000/month after management fees and insurance.
2. Build an online business that could make $3000/month so we could work while we travel and not stress about saving for the future (something that usually falls by the wayside when you are travelling and living off savings).
3. Launch some investments that could tick over while we were away, essentially front-loading our investment plans and then allowing them to coast while we travelled.
The plan started with the small and cheap house. The mortgage was around $158,000 when we returned. We’d purchased for $195,000 in 2013.
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