The $$ Side Of Being A Nomad
Tuesday, September 30th, 2008This has been a sobering day. As my retirement money swirled down and away into the abyss, and my mood went with it, the image of Scarlet from Gone with the Wind poked its way into my mind. I once again saw her surrounded by the debris of her plantation home with tears in her eyes. In Hollywood style, hopelessness turned into defiance and hope as she pulled the heavy drapes off the windows and dressed herself elegantly in them. Ah, that felt good. But then I remembered that I’m not 20 years old anymore. I’m not beautiful. And I have vertical blinds on my windows.
I married young and had a few years of working, mostly as a social worker, before I devoted myself to ten years of raising a son and being an active volunteer. In middle-age, my strong desire to travel and live outside the United States catapulted me outside the cozy confines of being a wife and mother. After returning to school for a Master’s in Social Work, I emigrated to Israel in 1983 at the age of 40. Because of subsidized housing and benefits for new immigrants, plus working, my years in Israel were not very expensive although I was still dipping into my divorce settlement - basically the value of half the house my former husband bought from me.
In 1988, I turned out all my pockets and realized that I only had $15,000 left. What to do? I did what made sense to me. I decided to travel the world before I ran out of money.
My traveling evolved into a way of life for more than 16 years. After 6 years in Israel, China, Taiwan, Macau, Bali, and Korea became “home,” while Australia, New Zealand, Fiji, Turkey, Vietnam, Russia, and Iceland, among others, beckoned briefly. My nomadic years were undoubtedly the best years of my life.
While in China in 1988, I discovered my true niche was being a teacher. My Chinese students were the most highly motivated students I ever had, but the low pay - at the lowest simply room and board in exchange for teaching and at the highest $125 a month at Nanjing University - pushed me to sometimes leave China to work in somewhat more highly paid teaching jobs in other parts of Asia. I was a freelance teacher unconnected to any organization and found my jobs in an unusual variety of ways wherever I decided I wanted to live and explore the culture.
Some people asked me how I financially managed to keep traveling. Many people simply assumed I must have been rather rich to keep circling the globe as I did. And some of my parents’ friends thought they were supporting me. In truth, I really can’t answer how I managed financially to keep traveling. I just did.
“But what will happen to you in retirement?” my parents asked more than once as I slipped into my 50’s. I hadn’t a clue, nor did I spend much time and worry thinking about it. Neither in my married years, nor in my traveling years, did I ever really think about money. I made it. I spent it. I kept expenses as low as possible, never staying in anything but inexpensive hotels and hostels. It worked out okay. I never felt deprived. And I even managed to be quite generous to my Chinese students who became my friends. I didn’t have much money, but they had none at all during those early years. And prices were cheap.
Was I foolish not to prepare better for my old age? A day like today in the stock market tells me I was. Contrary to my Chinese friends who had the mistaken notion that the U.S. takes care of its old people, I have no real security, no real pension to back me up. I didn’t spend all those hours and years in the U.S. required for racking up Social Security credits or pensions that make retirement at least somewhat secure. What eventually provided for me were a couple of small inheritances and part of a long-ago pension plan from my former husband. After my mother’s death, my father and I moved together to a retirement community in southern California where I remained after my father’s death.
Yes, now that I’m a senior citizen, it’s scary to think about my financial future when the headlines scream about present and impending economic disaster and my nest egg lays cracked, broken, and ravaged.
Bali was the closest to paradise I ever found. Years ago, when I saw how far money could go in Bali, I thought maybe I could financially survive there when I was old and poor. That time seems to be coming very quickly. Hmm! I wonder how much Bali has changed financially since I was last there in 1995.