Ok, the title is intentionally a bit facetious. But a bit about my current situation.
I live in Europe (a high cost of living country) and save around 10,000 Euros per year. I have been doing this for 2 years, so have around 20,000 in cash, but I also have just over 10k in equity in my house.
I have always disliked the 9 - 5 lifestyle, but do not have the mentality to become an entrepreneur. At the same time, I don't want a 'deferred life' plan, of building up a pension and waiting until I'm 70 to live what's left of my life.
So, I would like to ask if the below is a viable plan, if anyone else is doing something similar and if there are any obvious massive pitfalls?
- Work for 2 - 3 years at a time, save up 20 - 30k.
- Take 2 - 3 years off work, travel the world on a budget, stay in hostels, live frugally, learn new skills and just generally enjoy life, (all the while not working and spending most of the savings).
- Repeat steps 1 and 2 until graveyard time.
Pros that I can see:
- No 'deferred life', live 2 - 3 year bursts of retirement while still young (I am 30).
- A couple of years off work should not be enough to deter employers, when it comes time to look for employment again (I am a software dev).
- No long-term savings or investments
Thanks in advance!