Stop number six on our nine week summer vacation across Europe brings us to Venice, Italy! After a two hour train ride from Milan, we arrived in Venice’s main train station around noon. Quick trip recap leading up to Venice: we flew to Milan from Seville, Spain on a super cheap two hour Ryanair flight. Earlier in our trip, we visited Lisbon, Portugal, then flew to Malaga in southern Spain before taking a bus to Granada, Spain.
Venice is one of those cities that everyone has heard about. Mostly good stuff. Some not so great stuff. It routinely appears in articles like “Top 5 European Destinations Everyone Must Visit”, so it’s a must see if you find yourself in Europe with time to spare, right? I’ve also seen Venice on several “Most Overrated Destinations in the World” lists. How does one reconcile these two starkly contrasting ideas? Could Venice appropriately fit on both kinds of lists? I wanted to judge for myself so I made sure to book a couple nights in Venice so I could experience all the good and the bad that this canal-filled enclave has to offer.
Welcome to stop number five on our nine week trip across Europe! This post covers the four days we spent in Milan, Italy at the end of June. We flew to Milan from Seville, Spain on a super cheap two hour Ryanair flight. Earlier in our trip, we visited Lisbon, Portugal, then flew to Malaga in southern Spain before taking a bus to Granada.
This was our first time in Italy and I didn’t have a clue where to visit. I considered Rome but I figured it would be too ambitious to tackle in just four days so we decided to save Rome for later. Milan, though still a sizable city, proved a good choice to fit in a four day slot in our schedule before we headed onward to Venice.
Milan offers a great mix of the new and the historic. In a single day of sightseeing, one can take a hundred year old trolley line to go from centuries old castles and cathedrals to cutting edge ultramodern skyscrapers. Both the old and new proved interesting to me!
October was another great month for us! We had a blast, blew some money on a quick jaunt on the high seas, and enjoyed the outdoors. And grew $42,000 wealthier while having all that fun. No complaints here.
In financial terms, our net worth climbed to $1,978,000. Income remained steady at $4,573 while total spending for the month of October remained modest at $1,748. Given that we don’t even spend our current income, I’m starting to unravel the mystery of why our cash balance continues to grow month after month. Spending less than we make – an old habit we can’t kick.
We’re on the road again with installment #4 from our nine week voyage across Europe. This week we’re highlighting our last stop in Spain: Seville! Quick recap: after visiting Lisbon, Portugal, we flew to Malaga in southern Spain then took a bus to Granada. After Granada, we traveled a few hours west to Seville.
We spent four nights in central Seville in an Airbnb overlooking the Alameda de Hercules plaza. Capital of the Andalusia region of Spain, Seville overflows with history and a sense of the past. Romans first settled the area more than two millennia ago and remnants of their city remain visible today in and around Seville. Over the centuries Seville was inhabited by the Vandals, the Visigoths, then the Moors. In the 13th century the Castilians conquered the city and it has remained under Spanish rule for the past 750 years.
This week we’re visiting the third stop on our nine week family vacation in Europe. After spending two nights in Malaga, Spain, the five of us set out on a two hour bus ride to Granada, Spain.
Upon arriving in Granada, we immediately noticed it was very hot but very dry. We caught a city bus to the center of town, hopped off, and walked the last five minutes to our Airbnb. This Airbnb was small and spartanly furnished but clean and modern – Ikea Chic style. The apartment had all the basics – air conditioning, clothes washer, dishwasher, sleek bathroom, and full size refrigerator. I was concerned the air conditioning wouldn’t be able to keep up with the 95-100 degree heat, but fortunately for us it had a setting that probably translates to “super jet fan turbo blast” in English. Not a bad place to stay for three nights.
Now that we’re back in Raleigh I’m planning on releasing a more regular stream of trip reports from our nine week summer vacation in Europe. After we spent five nights in Lisbon, Portugal, we took a short turboprop flight to our second destination of Malaga, Spain for a quick two night stay. What started out in the planning stages of the trip as a pit stop in Malaga on the way to Granada turned out to be a surprisingly interesting city to spend a few days.
The Root of Good family started its grand nine week European vacation with five days in Lisbon, Portugal. After a short flight from Raleigh, Lisbon is an easy 7.5 hour overnight flight from Washington, D.C., so our transatlantic flight to Europe was relatively painless. We arrived at 10:30 in the morning the next day. After an arduous journey through the immigration lines, we left the airport by metro for a quick ride to our first (of fourteen) Airbnb apartments that would serve as our homes away from home for the next nine weeks in Europe.
To battle jet lag, I followed the advice to stay awake the whole day of our arrival and DON’T take a nap. We dropped our bags at the airbnb apartment, hooked up to wifi, unpacked a bit, and did a quick inventory of necessities (“Do we have soap, shampoo, conditioner, and breakfast for tomorrow?”), and headed out for an afternoon of exploring downtown Lisbon so we would be forced to stay awake. Easier said than done, we had an overly exhausted five year old that fell asleep on the metro ride back to our apartment, and it’s the first time I’ve nearly fallen asleep while standing up (waiting for the metro).
This month’s financial update comes to you from Ljubljana, Slovenia – an undiscovered gem in Europe. We are about to head to Lake Bled, Slovenia for some hiking, lake-lounging, and more relaxing. After that we’re on to Austria, Germany, and the Czech Republic for the next month before ending our vacation in Amsterdam. It’s hard to believe we are almost half way through our nine week summer vacation in Europe!
June was another great month financially. Net worth increased $14,000 to $1,842,000. Income was very strong at $7,793 during June, while expenses remained moderate at $2,629. Such a great feeling to watch your assets continue to grow for you while you’re on the other side of the world exploring and relaxing!
In contrast to early retirement modeling that looks for all the worst cases and failure modes, our actual life the past almost four years illustrates that good things can offset the bad events in life.
Financial planning for early retirement is pretty straightforward. Figure out how much you plan on spending in early retirement then save up till you have between 25 and 33 times your annual expenses in your investment portfolio. We initially planned on spending $32,000 per year plus a large lump sum for the three kids’ college tuition. Using the 33x multiplier (which represents a 3% withdrawal rate), that means we needed $1,056,000 plus another $100,000 to cover tuition, or roughly $1,150,000 in total investments. That’s about what we started with four years ago but now we have a lot more.
The Root of Good family is ramping up for an epic adventure across Europe during the summer of 2017. The five of us will spend nine weeks traversing an all new (to us) continent by train, plane, bus, car, and foot.
We really struggled to narrow down the itinerary to something feasible for a family with three young children. As a result this trip will NOT include London nor Paris nor a dozen other cities we would have loved to visit. What we will see are museums, parks, castles, palaces, cathedrals, caves, mountains, seas, rivers, lakes, and canyons scattered about the rest of western and central Europe.
Many will view this as a “trip of a lifetime” or a “dream trip” but I choose to view this as just another cool vacation in a series of vacations we have already taken and will continue to take.