Our Location Independence: Your Questions Answered

After I posted our news that we’re moving to North Carolina this summer and will officially be location independent, some of you had questions. I thought I’d publish a follow up post to answer those questions and hopefully shed a bit more light on some of the decisions we made.

But first, make sure you read this post that details that plan. It contains a lot of information about where we’ll be and what we’ll be doing!

Okay, on to your questions!

The Numbers

Jalpan from Passive Engineering asks, “My question would be on the numbers. How did you decide your original number  and how did you reach the conviction that you’ll still be okay even though you’ve not hit it?”

Great question, Jalpan. When we first decided the net worth number we wanted to hit, we knew it wasn’t the same as our FI number. In order to be completely financially independent, we’d need to save up more than our double net worth goal. But, we assumed that during location independence we’d either:

  • be working full time or
  • be traveling for a short amount of time, like a year

Continue reading “Our Location Independence: Your Questions Answered”

The Big News

Mr. ThreeYear and I have some news to share. I’ve been waiting to tell you for awhile, but I wanted to wait until everything was finalized first.

The Big News www.thethreeyearexperiment.com

This summer, we’re going to be location independent!

That’s right, we’re doing it a full year and a half earlier than our plan. Needless to say, we’re pretty excited.

No, we haven’t reached our goal of doubling our net worth (we’ll keep working on that). And no, we aren’t going to take off on an around-the-world trip (yet!). But we are going to be able to move wherever we’d like.

We’ve sold our house in New Hampshire. We’re just waiting until the end of the month to close and move. I’ll be sure to write about all the details of our house sale and move later this summer.

And, we’ve found a place to live in a small community in a lake town of North Carolina.

How Did This Happen?

We felt very good about our timeline of becoming location independent by the end of 2019, and were working hard to save up and make decisions about how we’d make our location independent lifestyle look (if you read earlier posts, you’ll see we’ve changed our minds on that a lot over this past year and a half). But, this January, I had a fateful conversation. Continue reading “The Big News”

Your Complete Guide to Location Independence for Families

Have you ever dreamed of having the freedom to live wherever you’d like? Have you thought about moving to a warmer/cheaper/bigger/smaller town or city? Have you dreamed of being able to travel for longer than two weeks a year with your entire family?

Your Complete Guide to Location Independence for Families www.thethreeyearexperiment.com

Our family is pursuing a dream to become location independent, in order to be able to be closer to our families who live on two different continents, enjoy warmer weather than we currently do in New Hampshire, and travel for longer stretches of time.

For the last year and a half, we’ve been exploring ways to make that dream come true. We’re investigating overseas employment options. We’re saving and investing in order to double our net worth. We’re looking into non-traditional work arrangements.

What is location independence?

Location independence is a term used to describe a lifestyle in which you’re not tied to one location. You are free to travel for long stretches of time, if you so desire. You’re not tied to a place because of your job. You don’t have work obligations that mean you need to report to an office each day. You may live in one city, but you’re free to choose that city. You’re able to practice geographical arbitrage, and live in a region of your country or the world that costs less.

It’s generally a term that’s used when people are still working, and haven’t yet reached financial independence, but because of the way they’ve structured their lives, they’re able to work from anywhere, or almost anywhere. Location independence for families is building a lifestyle where your entire family can come with you. Whether you’re a family of 2, 5, or 25, location independence can work for a family, but extra planning IS required.  Continue reading “Your Complete Guide to Location Independence for Families”

The Best Advice I Know for Becoming Location Independent

Our family is currently on a three year experiment to double our net worth and become location independent. While we’re not there yet, we’ve learned a lot on this journey.
The Best Advice I Know for Becoming Location Independent www.thethreeyearexperiment.com
If you’re thinking about cutting the ties and becoming location independent, here are a few things we’ve learned (some, the hard way):

Kill the Debt

First things first, get rid of your debt. There is nothing more binding than owing someone or some entity money. Pay off your credit card balances, student loans, and car loans as fast as you can. Consider selling your house to rent. When you owe money to a person or an institution, not only are you beholden to that person or entity, you’re stuck working long hours, in order to pay your fixed expenses and pay back your debt, as well.
If you’re thinking about traveling, living internationally, or taking on a job that allows you to live anywhere, I highly recommend paying off your debt first. There’s an inherent unpredictability that can come with location independence, especially if it involves living in an international location or traveling for long stretches, and being out from under the burden of debt payments is freeing.

Continue reading “The Best Advice I Know for Becoming Location Independent”

Location Independent, International Jobs: Kara from Provincial Table

Hello! Welcome to “Location Independent, International Jobs,” the Wednesday series where I showcase stories from people who have become location independent, work internationally, and/or continuously travel.

Kara Provincial Table winery Germany vineyards www.thethreeyearexperiment.com
In today’s interview, you’ll hear Kara‘s story. Kara is a mom of 4, married 22 years to her college sweetheart, and a simple living blogger. I asked her to tell me her story after I kept seeing her amazing Instagram accounts of her European trips. 
This interview will cover:
  • how Kara and her husband TJ are able to travel around Europe for a month at a time
  • how frugal living has allowed them to pursue their love of travel, even while raising four kids
  • how they keep their spending low, even in a HCOL area and with kids at home and in college
  • best tips for low-cost travel
For the complete story of how Kara and her husband take month-long trips to Europe, read on! 
Can you tell us a little bit about your background?

I don’t consider myself an expert in travel, money or simple living. My blog is a space to have conversations about ideas that can add value to life. Sometimes I talk about money, and other times the topic is growing vegetables. It’s really about all the activities that are necessary to live well; food, exercise, money, goals, self-investment, travel, gardening, minimalism and lots of other things. Habits can have a big impact on our quality of life; everything really is related. Working toward financial freedom and living frugally doesn’t have to mean operating from a place of scarcity. I’ve been so inspired by others’ stories and it brings me joy to pass it along to someone else. I hope in sharing my thoughts and experiences, I can encourage others to find their version of happy too.

Kara and TJ--www.thethreeyearexperiment.com
Kara and TJ on a recent trip to Hawaii

I grew up in the Midwest, married my high school sweetheart at nineteen, and had four children. We’ve been married for twenty-two years.

Our oldest daughter is twenty-one and works as a gas turbine engineer in the Navy. We have three boys, aged 19, 17, and 16. Our oldest son is studying software in college and shares an apartment with roommates. Only our two youngest boys live at home now and will both be graduated from high school in two years. Since we started out so young, it seems like we’re on the verge of life 2.0 and it’s exciting! We’ve got big ambitions!

I studied respiratory therapy and worked in that capacity in the hospital setting. When we moved to Colorado, I was ready for a change and went back to school to study science, a field I’ve always loved. I have four more classes left to complete my degree in molecular biology. In order to earn some extra money and keep developing my skills, I’ve done some work part-time as a teaching assistant for the writing department at the university I attend.

My husband TJ manages a product development group for an AV company based in Orange County, California. He works out of their smaller Colorado office and travels to the California office often. He loves the creativity and flexibility of his profession.

We’ve always been frugal and have saved money as we could over the years. A little over two years ago, I began reading more about finance and learned how we could be leveraging our money more effectively.   Paying off consumer debt, downsizing our lifestyle, fully utilizing saving vehicles such as 401k, IRA, HSA and after-tax investment accounts has significantly increased our savings rate and brought us peace of mind.

In order to accomplish this, we live modestly. We own a 2-bedroom townhome and try to minimize our possessions more each year; following a minimalist lifestyle has freed up so much time, space and money. We have one car, a Toyota Corolla; we drive only when necessary. Instead, we bike whenever possible, even to the grocery store. We plan our meals, shop sales, eat leftovers, pack lunches, rarely eat out, and use our chest-freezer to minimize food waste. We use a clothesline to dry most of our laundry. We have Netflix instead of cable TV. We have a wide range of interests and entertain ourselves at home with cooking, hiking, listening to music, reading, and gardening. Rather than a miserly or spartan life, it’s full of life! And sprinkled in between is travel to interesting places. The goal is to invest in and improve ourselves along the way.

Continue reading “Location Independent, International Jobs: Kara from Provincial Table”

Figuring Out the Why

Sometimes we follow paths in our lives for no particular reason–they’re the expected thing to do, or we’ve told ourselves the story of how our lives will look, and so we go about making our lives look like the story.

Boy walking in fall woods Figuring out the why www.thethreeyearexperiment.com

If you’re starting to ask yourself why you’ve made the decisions you’ve made in life, that might be the first step toward realizing you may want to change some things. Our family definitely got to that point after mounting frustration with our inability to spend enough time with our respective families.

We knew that in order to reach our dreams of location independence we would have to make some big sacrifices, ask some hard questions, and explore scary and unfamiliar options. We’d probably have to live in the land of limbo for awhile. Continue reading “Figuring Out the Why”

How We Are Working Towards Location Freedom: Guest Post on Keep Thrifty

Today I’m excited to guest post on Keep Thrifty. Keep Thrifty is a personal finance and travel blog run by Chris and Jaime, who live in Madison, Wisconsin. They’re run some amazing lifestyle experiments in the last few years, including living in half their house, moving to an apartment, and taking a one-year mini-retirement. I love how brave and willing to think outside of the box they are for their family.

In the post, I share how I caught the travel bug, met and married Mr. ThreeYear, and then settled into… life as we know it! I share the reasons we’ve embarked on our three year experiment and what we hope to get out of it as we work towards location independence, or location freedom, as Keep Thrifty calls it! It sure is freedom!! Not being tied down to one job or one place is such a freeing thought. Gives me goosebumps just thinking about it! Continue reading “How We Are Working Towards Location Freedom: Guest Post on Keep Thrifty”

How to Cut the Cord: Guest Post on 99 to 1 Percent

Our family is on a three-year journey to double our net worth, sell our house, and become location independent–in other words, to cut the cord and travel.

If you haven’t read our complete story, it was just featured on the blog 99to1Percent.

How to Cut the Cord--www.thethreeyearexperiment.com

99 to 1 Percent

Here’s a sample:

Have you ever woken up to a truly terrible winter day, with snow and sleet pouring down, gray clouds and cold everywhere, and thought, “Get me out of here! I want to live somewhere warm and tropical!” before you pulled the covers back over your head? Continue reading “How to Cut the Cord: Guest Post on 99 to 1 Percent”

Location Independence, International Jobs: Jim from Route to Retire

Hello! Welcome to “Location Independent, International Jobs,” the Wednesday series where I showcase stories from people who have become location independent, work internationally, and/or continuously travel. I’ve interviewed all kinds of people who all have slightly different takes on location independence or living internationally. Posts include Steve from Think, Save, Retire,  Pete of Do You Even Blog?, and Mrs. Adventure Rich

Guest posters will be sharing how they became (or will become!!) location independent or how they got jobs abroad, but most importantly, they’ll share how their lifestyle has positively or negatively affected their finances and how they got to the life they’re living now.  

The reason for this series is to showcase people who have already achieved what the ThreeYear family is working towards: location independence and/or securing international jobs

Today, I’m thrilled to introduce Jim from Route to Retire. I reached out to Jim when I heard him share his plans to retire to Panama. Jim discovered the idea of FIRE (financial independence/early retirement) a handful of years ago. On regular salaries, he and his wife (Mrs. R2R) worked hard to reach a $1 million net worth in 2017. They’re now slated to retire at the end of 2019 (Jim will be 44 years old). They plan to move to Panama (along with their daughter, of course) in 2020 as part of their retirement strategy. 

Can you tell us a little bit about your background? Where you’re from, how long married, degrees, kids, ages, etc.

I’m 42, my wife is 40, and we’re both from Ohio. I graduated with a degree in Computer Information Systems and my wife with a degree in Child and Family Development.

We met right after I graduated from college – at a bar of all places! It’s a little more innocent than it sounds, though. We were both there with mutual friends that introduced us. We hit it off and have been together ever since and we’ve been married now for over 11 years.

We have a seven-year-old daughter and she’s the most amazing kid in the world. She actually recently wrote part of the second most popular post on my blog’s site titled “Like Father, Like Daughter….” I love her more than anything and she’s really the catalyst for why I want to retire early. It sincerely crushed me that I had to go to work every day shortly after she was born instead of spending those first few years with her. Continue reading “Location Independence, International Jobs: Jim from Route to Retire”

Location Independent, International Jobs: Andrew

Hello! Welcome to “Location Independent, International Jobs,” the Wednesday series where I showcase stories from people who have become location independent, work internationally, and/or continuously travel.

In today’s interview, you’ll hear the story of Andrew, who lives in Dubai with his wife, Jamie, and their two young sons. 
This interview will cover:
  • how to get an international job (hint: your network is important!)
  • the benefits of an MBA
  • how to become an international entrepreneur
  • some cultural shocks from Dubai
  • the financial benefits of fasting
For the complete story of how Andrew made a life in Dubai from Atlanta, Georgia, keep reading! 
Can you tell us a little bit about your background?

I am an American from a small town in north Georgia.  My wife and I have been living in Dubai since 2008.  We have two boys named Jack (who’s six) and Zain (who’s three), or as we call them, Thing One and Thing Two.  They were born in The Emirates.

Location Independent, International Jobs: Andrew--www.thethreeyearexperiment.com
The Waskey family all dressed up for Halloween, Dubai-style.

I graduated from Furman University with a degree in Spanish.  I earned an MBA at Georgia State University in Atlanta.  I attended part time for a few years while working for DHL (the delivery company).

How did you make the decision to move internationally?

My wife and met while in graduate school for international business. Both of us wanted to live overseas – mostly for the adventure [Laurie: Andrew has traveled to over 80 countries!] . As a part of our graduate school program we had to intern overseas. I worked in China and she worked in Argentina. After we graduated we got jobs in Atlanta and then when an opportunity to work overseas just before the Great Recession. We never planned on living in the Middle East and we thought we would just stay for a year.

Continue reading “Location Independent, International Jobs: Andrew”