Many young men die at age 25, but are not buried until they are 75 – Often attributed to Benjamin Franklin
Ever Wonder How to Save Up for a Big Quest?
Ever since I got back from the Appalachian Trail in 2022, I’ve been thinking about how to get back out there. After graduating college and moving out of my parents house, I’ve acquired more bills than I had previously. Before, my income went to paying for school, buying whatever I wanted at that time (typically backpacking gear), and savings. Now, with most of my income going towards rent and groceries, how can I afford to go on a 6 month excursion? Taking that much time off from work feels like career suicide, not to mention the cost of the trip and having no income for 6 months.
As I’ve been out on trails and reading blogs from other people pursing a big adventure, there are three common categories that they seem to fall into on how they finance their trips: 1. One and Done, 2. Adventure Dirt Bags, 3. Outdoor Influencers.
- One and Done:
These people live the “once in a lifetime” adventure (it’s only once in a lifetime because they don’t think that they could do it again), typically saving a large amount of money to spend. They don’t hold back while on their trip, spending all of their budgeted savings on every comfort they can to make it more enjoyable. These are often the people waiting for the “perfect time”, when the kids grow up and move out, when they retire, or when life finally gets uncomfortable enough that they need change. There is nothing wrong with this way of thinking, and I highly commend these people, because they actually followed through with their dream, no matter what time of life they did it at.
2. Adventure Dirt Bags:
These are the modern day hippy living in a van down by the river. Side note: I think that sounds like an awesome life for a young person or couple with no kids, or even a whole family, it just gets harder with the more responsibilities, but if that’s the life you want, go for it! I applaud your tenacity. Adventure Dirt Bags (ADB’s) typically live very frugally and have little income, typically seasonally work and living off the savings until the next season. They try and stay to a strict budget while in pursuit of their quest, allowing them to come back year after year to have many life changing experiences in a short amount of time.
3. Outdoor Influencers
Social media content creators that share the story of their adventure online. From sharing day to day life during the journey, to tips and tricks for getting started, or ways to improve your own adventure, there are many possibilities to growing an audience. This can consist of photographers for Instagram, video creators or vloggers on YouTube, or bloggers sharing their experiences online for others to follow.
Which Category Do You Fall Into?
Unfortunately, or fortunately, I don’t fall into any of these categories. I strive to be more than a one hit wonder, I’m not a ADB (although I could be), and I think filming and sharing my experience as a job would change the experience I am looking to have.
So, lets create our own category: The Lifetime Adventurer (LA). A member of the LA community recognizes the need for money, not only in exploration but in life as a whole. They aren’t the mindless zombies in our world today that slave away at an unfulfilling 9-5 and obsess over money for material possessions, but they understand the importance of making and saving money. They work hard to play hard. The key to the LA lifestyle is finding the balance between working and adventuring. The typical two weeks of vacation a year aren’t good enough for the LA, they want to go off on a journey for a month or more at a time. They’re interested in things like financial independence (F.I.R.E) but don’t let it consume them and miss the big picture of a life filled with adventure, starting RIGHT NOW!
Members of the LA typically have a high savings rate, investing the money and putting it to work for you. They understand that reaching financial independence can lead to a more fulfilling life not centered around a paycheck, but they also understand that you can’t put your life on hold to reach it. So how do we balance all of these things?
Starting With This Realization
Life isn’t that serious.
You have a good job that pays well and is secure, how could you possibly give that up for an adventure? Well, maybe you don’t have to, ask your boss if you could take a sabbatical or a leave of absence, and come back after your trip (Caution: You might not want to go back after tasting freedom). You can explain to them all the benefits of a mini-retirement and how it will increase your productivity at work.
What if they say no? Then quit. Chances are you’ll be able to find another job once you get back, or you might want a completely new career. I know it can feel like jumping off a cliff and not knowing how far you’ll fall. What will the next hiring manager say when they see I haven’t worked in six months? You can explain where you’ve been, and they’ll likely ask you how you did it, and how they can do the same. It’s not a hindrance to your resume, it’s a bonus. How many other people applying to that job can say that they backpacked South-East Asia for four months or biked across America?
You can even spin the experience as personal and professional development: “I have gained more confidence and can deal with any problems that are thrown at me.” Nothing at work can be scarier than that rattle snake snapping at you while hiking by, or being bluffed charge by a black bear.
“Well, that’s all and good, I can find another job when I get back, but what about my bills while I am away?”
A fair question, especially for those of the LA community with families that rely on your income. It would definitely make it harder to take an extended period off from work, but my advice is the same. Radically cut your expenses and save like a madman. Renting? Find someone to sublet. Mortgage? Find someone to rent your house for the time you are away. You can pause your car insurance as you won’t be driving it while you are away. In other words, get creative with ways to cut your expenses, either pausing them or cancelling them all together. Next, save like crazy. Any money that doesn’t go to necessities should be carefully evaluated for where it is going (I think everyone should do this anyway). You don’t need that Starbucks coffee, you don’t need to go to lunch with your coworkers, do you really need all those streaming services? Evaluate each purchase in terms of long term happiness. If you cut out the $5 coffee every morning for just two years, you’ll have enough to take a trip almost anywhere in the world.
Another option is to start your own business that you can do while traveling. This will allow you to have constant income and avoid the hassle of saving to cover 6 months of expenses with no income. Man LA members have created careers that have the flexibility of time and location, allowing them to work where they want, when they want.
For me, this looks like cutting all of my expenses down to the bear necessities, saving more than 50% of my income every month. Knowing the importance of investing early for retirement, I contribute $7000 (the limit) to a Roth IRA per year, 25% of my before tax pay goes towards my retirement account through work, and the rest goes to my “adventure fund” (the contribution to my adventure fund varies from month to month depending on expenses). This allows me to save enough for almost any adventure within two years, while also setting myself up for early retirement (Run some numbers through this compound interest calculator and you’ll be amazed what a small amount of money can turn into over time. For reference the stock market (S&P 500) has an annual return of 10.26% since inception in 1957).
Some people may argue about the current state of the economy and say that this is impossible. I’d argue that almost everyone can lower their monthly expenses in some way allowing them to save more money.
