“Trading Wealth for Adventure: Our Journey of Early Retirement and Embracing Life Over Legacy”

• Kelly Benthall, 53, alongside her spouse opted for an early retirement to explore the globe.
• A part of their retirement strategy involved not leaving an inheritance for their six children.
• They have been journeying throughout Europe and Africa since August and are content with their decision.

If someone had told me in my 40s that I would be drafting this from Mauritius after months of travel throughout Europe, I would have chuckled.

At that time, I held a more conventional perspective on retirement: I believed I would work until 65, leave a savings pot for my children, and transition into a quieter lifestyle.

However, at 53, my spouse Nigel and I resigned from our jobs in the oil and gas sector, swapped comfort for exploration, and set off on our journey.

To retire early and travel, we rearranged our finances and charted out a strategy to utilize every dollar. Choosing not to leave an inheritance for our six children was a pivotal element of that strategy.

We invested in their initial 25 years, providing each with a solid base to build their own destinies.

Cultivating assurance

We aimed to avoid tapping into our retirement funds to sidestep early withdrawal fees, thus we simplified our way of living.

We became engaged in 2017, soon after Hurricane Harvey devastated Nigel’s home. He moved in with me, we wed, and rather than upgrading to a larger residence, we decided to make the best of my home. During the pandemic, we sold our second vehicle and adapted to sharing one.

We also eliminated credit card debt and dedicated ourselves to paying all bills in full each month. These decisions made a significant impact, yet we still required assistance.

To transform our dream into reality, we employed a financial advisor who guided us in creating a reliable plan. Together, we increased our fixed-income resources for easy access, developed a strategy to completely utilize our savings throughout our lifetimes, and transitioned to having our accounts overseen by our advisor with asset-based fees. This alleviated our concerns about outliving our funds.

Planning for life on the go

Currently, our objective is to spend 20% less than we did during the last five years of employment, gradually decreasing our expenditures as we age and decelerate. Prudent budgeting and travel strategies have been beneficial.

Before departing Texas in August, we were residing in Houston, where we continue to own a property. The choice to rent or sell felt too daunting before we set off, so when we began our adventure in August, we postponed that decision. For the time being, it stands as it was. The plan includes returning in January to pack everything and face those tough choices.

Instead, we started our adventure by visiting family in England. Since then, we’ve had to rethink our travel approach, emphasizing budget-friendly options without sacrificing our standards. This has shaped everything from our accommodations to our itinerary planning.

For accommodations, I utilize Airbnb and local real estate agencies that offer discounts with a minimum stay of 30 days to reduce costs. This arrangement allows us to settle and fully immerse ourselves in a destination.

By chasing the sun in the shoulder seasons, we’ve snagged lower rates while balancing more expensive destinations with budget-friendly ones. After England, we’ve established a rhythm we refer to as “home bases” — locations where we live as locals while exploring the surroundings.

Up to now, we’ve spent a month in Dubrovnik, Croatia, admiring its breathtaking coastline; Lecce in Italy’s Puglia region, encircled by vineyards and olive orchards; Seville, Spain, where we fell in love with the relaxed charm of Andalusia; and now Mauritius, a petite island just east of Madagascar — where we’re indulging in island vibes for the holidays.

Throughout the last five months, we’ve been averaging $6,000 a month, excluding our mortgage and related expenses back in Texas.

With a slow travel approach, we shop at local markets, prepare meals at home, and enjoy a leisurely pace.

Looking forward

This expedition isn’t merely about travel — it’s about carving out time to breathe. The relentless US news cycle was taking its toll on me. Personally, I required space to unwind. I keep informed on international news, but the political landscape back home feels remote.

We aren’t certain where this journey will lead us, and that’s part of its allure. With an extensive list of destinations to discover and regular trips back home to visit family, we might even find ourselves retracing our steps one day.

Our six children, aged between 23 and 37 and scattered across California, Utah, Texas, and England, were thrilled for us yet somewhat nostalgic when we departed. A few voiced that it felt like we were leaving for good — a change that seemed more permanent, even though we’ll see them just as frequently as when we were living in Houston.

Our goal to “spend it all” isn’t about exhausting our resources — it’s about utilizing what we have with the purpose of exploring, learning, and crafting memories to cherish forever.

And for our kids? I hope we’re demonstrating that there isn’t just one way to live. Sometimes, it’s necessary to leap and have faith that a safety net will materialize — a reminder to embrace life fully, in whatever manner resonates with them.

Do you have a personal narrative about retiring early to travel that you’d like to share? Contact the editor: [email protected].