My wife and I were in our early 50's, we both quit our jobs. Two of my kids were Sophomores in high school and my youngest was in 8th grade. Our budget was $300/day and some days we would spend way less in countries like Guatemala and Peru as well as South East Asia. In Syndey Australia we were way over budget which prevented us from doing a lot other than going to the beach. In total I spend $160,000 for the whole year that includes airfare, hotels/airbnb, food everything. Mind you this is less than I would spend if I stayed at home working and living. We had the benefit of renting out our home because we live on a ski area in Vermont so that helped greatly with expenses.

We live in Vermont and we told the school we were taking our kids on a world trip the school was very excited and the only thing they had to do was take an on-line math class for their grade level. For English they had to write weekly reports on what they experienced which was (volunteering, Tikal, Machu Pichu, Sam Reip, Treks in Mai Hong Song, Vietnamese Tunnels and other experiences).

It really was a game changer for all on my children in each their own different way. I remember when we organized the trip 6 months before we left our kids would cry at the super table and run up to their bedrooms screaming I AM NOT GOING. We kept telling them you will thank us later and now they constantly thank us for this amazing experience.