104: Cash-Flowing a Series of Mini-Retirements with Steven & Lauren from Trip of a Lifestyle

Lauren and Steven met in high school and attended the same college. After undergrad, Steven was accepted into the Ph.D. program at UC Irvine. During the first year, he decided he didn’t really want a Ph.D. in Physics, but he really enjoyed working with students.

They moved back to Florida so Steven could get his master’s in Education, while Lauren worked her first “real” job.

But after two years, they were burned out from working full-time. After learning about financial independence and achieving an incredible savings rate—to the tune of $100K in two years—they decided to take a break.

Their “break” was a six-month trip to Hawaii, paid for up front by their big savings account—but repaid by a series of side hustles in Hawaii. While most people spend lavishly to go on a tropical vacation for one week, they ended up $1,000 positive while spending six months there.

Re-energized, they returned to Florida for a full-time job for Lauren and a continuing tutoring job for Steven—making more money than before they left for Hawaii. Increased income meant increased savings rate for these two, having lowered their expenses by purchasing a three-bedroom condo, periodically renting out an unneeded bedroom.

But after about three years, they felt burned out again. This time their “break” was a trip around the country to visit every national park—all 61 of them—in seven months. Again, they wanted to pay for the trip with income generated during the trip.

They cut expenses by buying a compact cargo van and sleeping in it for the majority of the trip. They continued working about 10 hours a week during the trip, rented their condo for seven months, and hit the road.

Each time they return from their mini-retirements, they are refreshed, re-energized, and ready to jump back into work with both feet. Their end goal isn’t early, permanent retirement, but several small mini-retirements to enjoy their journey.

In This Episode We Cover:

• Lauren and Steven's journey with money
• How they managed their money during their college years
• How they saved $100K in two years
• Their monthly income and expenses
• Preparations to go to Hawaii
• How they managed their cash flow while staying in Hawaii
• What they did when they returned to the mainland
• Their strategy for asset allocation
• Working part-time while on the road
• How they get internet access while traveling
• Their freelance business
• The ideas behind financial independence
• And SO much more!

Links from the Show

• BiggerPockets Forums
• Mr. Money Mustache
• The True Cost of Commuting - Mr. Money Mustache (blog)
• HealthCare.gov
• BiggerPockets Money Podcast 84: Traditional Retirement: Social Security, Market Conditions, & Managing Expectations with Kyle Mast
• BiggerPockets Money Podcast 41: How to Find the Best Possible Certified Financial Planner (CFP) for Your Needs with Kyle Mast
• BiggerPockets Money Podcast 11: Financial Freedom in Less Than Five Years with Joel from FI 180
• XY Planning Network

Check the full show notes here: https://www.biggerpockets.com/moneyshow104

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