Santa Monica, California — Rob and Allie Marmion spend their time traveling the world.
“Being able to enjoy ramen in Japan and spaghetti in Italy is fantastic,” said Allie Marmion in an interview with CBS News.
This adventure began five years ago when their children moved out and they realized that they hadn’t saved enough money to retire comfortably in the United States.
“Rob was probably the one who came up with the crazy idea to sell everything,” Allie said…”We sold not only our house, but also everything inside it, including our cars.”
They invested the money, and now at the ages of 49 and 50, they live off the earnings and occasionally work remotely.
“When you grow up, you’re told that you retire at 65 and spend your time playing golf, but it doesn’t have to be that way,” said Allie.
Ramit Sethi, the host of the Netflix series “How to Get Rich,” encourages people to start planning their lives now.
“You need to know how much money you need to survive and thrive,” Sethi said. “Most of us don’t know these numbers. My wife and I sat down and made a 10-year bucket list together. We compared notes and found some things that we really want to do together. So we focused on those and asked ourselves, ‘How much will it cost?'”
The Marmions used to spend about $8,000 per month on bills when they lived in suburban Atlanta. After crunching the numbers, they realized that they could travel the world for around $4,000 per month.
“We’re currently in Asia,” said Rob. “You can rent a luxury beachfront apartment for about $1,200 per month.”
Sethi suggests dividing your take-home pay and allocating 50% to 60% for monthly bills, 5% to 10% for savings, another 5% to 10% for long-term and low-cost investments, and up to 35% for guilt-free spending to fund your “rich life.”
“Whether it’s eating out, getting massages, going on vacation, or whatever you love, you can do it without feeling guilty once you have taken care of your other financial obligations,” explained Sethi. “Your rich life should be tailored to you… You don’t have to wait. You can start today. After watching this, sit down and write down what your dream week would look like. That’s the beginning of your rich life.”
