Embarking on a nomadic retirement journey often presents a blend of excitement and uncertainty, especially when planning finances. After four years of slow travel across 27 countries and four continents, I offer insights into the true costs involved in this lifestyle. We started our early retirement travel outside the US on March 15, 2020, and launched our YouTube channel in November 2019 to share our plans and experiences. Back then, resources were scarce, especially for those seeking a slow travel lifestyle rather than quick vacations or short-term visits. Over time, I’ve learned a lot about the realities of nomadic living, and I want to share an honest view of financial commitments so others can understand what to expect.
Understanding the Slow Travel Approach and Its Impact on Costs
Our journey is not a whirlwind tour but a slow travel approach. This means we spend months in each place to genuinely experience daily life rather than rushing through tourist spots. The main continent in our travels is Europe, where much of our time has been spent. Though I have visited 45 countries and Julie 43, our dogs have also joined us to 27 countries, which adds some unique considerations.
Traveling with pets comes with additional costs and limitations, so if you don’t have pets, expect to save up to 10% on the budget I describe below. Arranging accommodations that allow pets and managing transportation for them require flexibility and sometimes extra spending on incidentals.
We keep a home base in Montenegro, a non-Schengen country, where we’ve spent nine months of the past 38 months. This home base is not just a place to rest; it helps lower costs by offsetting higher lodging expenses that would accumulate if we stayed only in Europe’s Schengen Area. Having a home base also lets us regroup and refresh our wardrobe, which is practical on a long-term pursuit like this.
The Schengen Area and the Shengen Shuffle
The Schengen Area includes 29 European countries that allow free movement between them but impose restrictions on length of stay for tourists, especially Americans. You can spend only 90 days within these borders in any 180-day period.
To work around this, we execute a strategy called the “Schengen shuffle,” which means we leave the Schengen zone before 90 days elapsed and spend time in nearby non-Schengen countries. These include Montenegro, Serbia, Turkey, North Macedonia, Bosnia, and Albania.
For Americans, Albania offers a special advantage: it permits a 360-day stay without a visa, after which you must leave for 90 days before returning for another 360 days. This visa-free extension is unique in this region and provides an affordable option for long stays outside the Schengen zone.
We also use short trips to other non-Schengen countries like Bosnia and Serbia as brief stops to reset Schengen time limits. For example, leaving Schengen to Serbia and re-entering counts as a fresh 90 days. The flexibility to move among these countries shapes travel patterns and reduces risks of overstaying visas.
Owning and Using a Vehicle in Europe as a Nomad
Our lifestyle includes owning and driving a car in Europe, which affects costs, comfort, and mobility. At first, I believed owning a car would be costly and complicated without residency, but we found a workable solution.
We set up a “nil corporation” in Bulgaria with the help of a local attorney. This corporation owns our Citroën Berlingo, and since we serve as its officers without any financial transactions, our registration qualifies legally for vehicle use in Europe despite our non-resident status. We must return annually to Bulgaria to renew the registration.
Our vehicle choice, a diesel Berlingo, is practical. It has good mileage, holds all our gear, and transports our two dogs comfortably. Traveling with a car provides freedom to move around without relying on public transport schedules or incurring high taxi costs.
Recently, I explored another automobile option introduced in 2023, which allows non-residents to own vehicles in Europe through a different company. This option may suit some nomads better based on their circumstances.
Accommodation Choices and Costs
Over four years, our lodging options have primarily consisted of Airbnbs, flats, and rentals with long-term discounts. In cities where daily rents are high, we stay longer to access better monthly rates.
Because we travel with dogs, our choices narrow to pet-friendly accommodations, often at a premium. If you travel without pets, you might qualify for cheaper places and avoid some fees.
To make our budget realistic, we adjusted the months spent in Montenegro to the average Airbnb cost we would have paid had we stayed there instead. This gives a fair comparison and helps others estimate what to plan for.
Living expenses vary by country, but Europe remains the main base where average costs fall between moderate and affordable depending on region. Eastern European countries tend to offer lower prices for food, transport, and entertainment compared to Western Europe.
Everyday Costs and Other Spending
Daily expenses include feeding ourselves and our dogs, fuel for the car, occasional repairs, groceries, dining out, medical expenses, communications, insurance, and licenses.
Travel insurance and pet insurance are essential but add to the monthly overhead. In addition, crossing borders sometimes requires paperwork, health checks, or permits, which come with small fees.
Maintaining a home base accrues some fixed costs like utilities, property management, and upkeep despite not living there continuously.
Considering all these, the supporting costs outside pure lodging and transportation provide a clearer picture of the total budget.
Planning for Visa and Entry Regulations
Understanding visa rules and abiding by them is vital to avoid fines or bans.
The Schengen rules mean Americans must track time spent inside and outside the zone carefully. Apps and calendars help.
Some countries like Albania and Georgia allow longer visa-free stays, opening alternatives for nomads who want to stretch time abroad.
Being aware of entry and exit rules shapes the nomadic itinerary and avoids disruptions.
Budget Summary After Four Years
Over four years, we have:
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Traveled through 27 countries and four continents.
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Spent majority of time in Europe, especially within Schengen limits.
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Maintained a car registered under a Bulgarian corporation, renewed annually.
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Spent nine months at a home base in Montenegro to reduce costs and reset Schengen limits.
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Traveled with two dogs, which increases some expenses.
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Used a combination of Airbnbs and rentals suitable for pets.
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Managed visas and border regulations through the Schengen shuffle and stays in non-Schengen countries.
This lifestyle has turned out to be less expensive than we initially thought. Despite the complexities, slow travel retirement abroad can work within a reasonable budget if planned carefully.
Final Thoughts
The financial landscape of nomadic retirement requires flexibility, research, and adaptation. Knowing visa rules, housing options, and true living costs helps avoid surprises. Preparing for the a bit of extra cost when traveling with pets also improves the experience.
Our journey over four years revealed that smart planning, willingness to explore lesser-known countries with lower costs, and legal vehicle ownership solutions make slow travel an affordable reality for early retirees.
Anyone considering this lifestyle should study visa regulations upfront, weigh costs of transportation and lodging carefully, and expect to adjust plans as rules evolve. With patience and research, financial stability can accompany the freedom and adventure of a nomadic retirement.
