I got laid off at 65 and couldn't afford my Bay Area mortgage. Now, I work for myself while traveling the world.

• After a career in financial services, Tony Woodall was laid off from First Republic Bank in 2023.
• He decided to rent his Bay Area home, start a corporate training business, and become a digital nomad.
• Now, he balances full-time travel with multiple income streams and is deciding where to retire.

I began my career in the financial services industry in 1985 in the warehouse at Fannie Mae Software Systems.

I went from loading software and shipping computers to mortgage companies, to starting and running a mortgage tech consulting firm, and then becoming the Chief Information Officer for two startup mortgage companies, all without a college degree.

My career as a CIO ended abruptly in 2006

My dream job as a CIO, which I worked for years to achieve, was suddenly eliminated after nine years. I changed my career path from tech to sales and became a loan originator. I started strong, building relationships with realtors, builders, and clients.

Then, the financial market crashed in 2008. By 2010, my loan origination business failed. I lost my home in Atlanta and had to file for bankruptcy.

First Republic Bank in San Francisco recruited me through LinkedIn

First Republic was a reputable, stable, and growing company. They wanted me to source and lead an imaging team for their lending department. I moved to the Bay Area and began my subsequent career in financial services.

I was enjoying my 13th year at First Republic, earning $200,000 a year, when Silicon Valley Bank's failure prompted a run on our bank. We couldn't recover before the Federal Reserve took us into receivership, making us the second-largest bank failure in history.

In June 2023, I and a thousand others were laid off.

I was 65 and planned to retire in a few years, but the third of my last three careers in financial services had abruptly ended. I took it as a gift and opportunity.

I chose to start a business and work for myself

I took my years of professional speaking, team building, mentoring, and leadership experience and started a corporate training and leadership coaching business.

I decided to build additional income streams since you never know when your industry will crash or a pandemic will occur. I started a print-on-demand store and a faceless YouTube channel and began freelance writing.

I also decided to become a digital nomad. I wanted to travel to places I had never been.

The biggest problem was my home

Without a full-time job, I could no longer afford the mortgage on my home in the Bay Area. A friend suggested posting my home on Furnished Finders, a website for traveling medical professionals, often on three-month contracts. I could rent it fully furnished and return to it if I wanted.

I offered it for $3,500 a month to cover my home expenses, which included a very small profit depending on utilities.

In 2022, I left California and walked the 800-kilometer Camino de Santiago across Spain. I was able to work and communicate while on the trail. My first tenants signed a lease remotely, and my mortgage was paid for.

I had a reasonable severance and could use the money to invest in my companies and pay expenses. I headed to Portugal to walk the Portuguese Camino.

My new lifestyle has taken me all over the world already

After Portugal, I joined friends in Medellín, Colombia, an inexpensive haven for digital nomads. In November, I rented an apartment there larger than my own home for only $1,500 a month.

Food and everything else was cheaper. They have a 90-day tourist visa, so I left the country at Christmas and returned for another 90 days. It was perfect for me.

I spent four and a half months enjoying Medellín. I worked on my businesses, studied Spanish, and lived a wonderful life there. I was found again on Furnished Finder and signed another lease remotely.

I had to renew my passport, so in March, I decided to drive across the US and stay with family and friends until it arrived. Once I got it, I spent June in Germany with a friend.

I will spend the next few months in Atlanta before heading to my next destination abroad.

It can be hard to recover from job loss, but you'll come back stronger

I work in many industries now, using my skills, knowledge, and motivation to help others. Instead of re-entering the job market, I decided to do what I wanted.

It's hard not to get discouraged or to feel hopeless at times — I know I do — but when I looked off the balcony of my apartment in Medellín, I knew I was on the right path.

I'm researching retiring in Spain, Portugal, or Colombia. My Social Security starts in October. I'm still renting my home in California, but I plan to sell it when the market improves.

I have no regrets in my career. I made good money and was a leader in my industry. I was able to help my daughters go to and graduate from college.

I've lost everything and come back stronger. It can be done. I've always managed to survive and grow. If you lose your job, you can as well.