• My wife and I have been spending our retirement traveling and have visited over 43 countries so far.
• As Americans, I wish we'd known how much Schengen rules could impact our travels in Europe.
• Now that we get the rules, we use a strategy to avoid overstaying our welcome in select places.

My wife and I have been living as full-time nomads since 2019 and have already visited more than 43 different countries.

Our lifestyle seems dreamy, but we've experienced numerous issues along the way — and many of the biggest have been related to visas.

As Americans, we're fortunate to have one of the strongest passports in the world, and many countries have not required us to present a visa upon entry.

However, I wish I'd known before we began our journey that there are some especially strict travel limitations in Europe that could complicate our plans.

Schengen rules make it difficult for foreigners to spend months traveling through Europe

As Americans, we knew we could not spend more than 90 days in a row visiting countries like Italy or Germany. However, we soon learned that simply hopping from one European country to another in 90-day stints wasn't an option or workaround to that rule, either.

This is, in part, due to Schengen rules: Non-European Union citizens can only stay in the Schengen zone for up to 90 days within a 180-day period

The Schengen zone consists of mostly European Union countries that share similar criteria for visitors. Citizens within those countries can freely travel across others in the zone without being subject to border checks.

The Schengen zone includes 29 European countries, including France, Italy, Germany, Spain, Belgium, and the Netherlands.

For many travelers staying in Europe for less than 90 days, these rules are pretty irrelevant. However, for us, this meant a lot of European countries were off-limits for long trips.

We knew that if we wanted to stay in Europe long-term, we'd need a residency permit.

After getting a visa proved difficult, we began planning our trips around the Schengen rules

Many countries offer multiple variations of residency permits, like digital-nomad visas or retirement visas. However, visa applications can be complicated and take months (or even years) to get approved.

At one point, we attempted to get retirement visas in Spain. After months of preparing and filing paperwork and spending a fair amount of money, our application has still not been approved.

Eventually, we decided to stop waiting for a visa. Instead, we would do the "Schengen shuffle," a common strategy among expats that involves strategically entering and leaving the Schengen zone without overstaying your welcome.

For example, if we've been exploring Spain and Italy for almost 90 days, we'd then spend months traveling to places outside the Schengen zone, like Malaysia or Bosnia, before returning to any country in it.

Fortunately, as nomads, we're very flexible — and we've gotten good at doing the "shuffle."

However, it's worth noting that the "shuffle" comes with risks, and violating Schengen rules can have severe legal consequences ranging from jail time and deportation to bans and fines.

Until we get a residency permit in Europe, we'll continue to stay on top of visa rules in every country we visit, as all travelers should.

After all, the rules can (and do) change often.

• Boeing's 777X to enter service with Lufthansa in 2026, CEO Kelly Ortberg confirmed.
• The jet has faced certification delays, with flight tests paused for months.
• The latest setback cost Boeing $2.6 billion.

Lufthansa is set to be the first airline to fly the 777X, Boeing's much-delayed newest jet.

CEO Kelly Ortberg said on an earnings call this week that the German carrier would get the first plane next year. Boeing continued to have "seat challenges, but we do know what those challenges are for Lufthansa deliveries," he added.

The Boeing 777X is an upgraded, modernized version of the world's best-selling widebody jet.

It includes a wider and more spacious cabin while taking advantage of technology used for the 787 Dreamliner.

A key feature is its folding wingtips. This allows for longer wings, which enhance aerodynamics.

The wings can also fold up while on the ground allowing it to fit at more airport gates. The double-decker Airbus A380 can only be operated at certain airports because it's so large.

More than a dozen airlines, including British Airways, Emirates, and Singapore Airlines, have placed about 500 orders for the twin-engine jet.

Boeing launched the 777X program in late 2013, targeting an entry to service in 2020. Delays have piled up and it's struggled to achieve certification for the jet.

Test flights were paused last August after a problem with a key component connecting the engine to the plane, before resuming earlier this month.

Ortberg said in October that the first delivery was expected in 2026 rather than this year.

In a third-quarter earnings report, Boeing said that the latest 777X setback would cost $2.6 billion.

There's much at stake, such as proving Boeing had the right strategy in modifying a previous design instead of building a new plane from scratch.

The planemaker has suffered from a loss of trust with some airlines after a damaging 2024 plagued by delivery delays. Boeing slowed down production after the Alaska Airlines blowout and then faced a seven-week strike later in the year.

Emirates president Tim Clark told BI in October: "I fail to see how Boeing can make any meaningful forecasts of delivery dates."

"Emirates has had to make significant and highly expensive amendments to our fleet programs as a result of Boeing's multiple contractual shortfalls and we will be having a serious conversation with them over the next couple of months," he added.

Others have been more patient, such as Qatar Airways CEO Badr Mohammed Al-Meer. At last July's Farnborough Airshow, he said he didn't expect to receive the first 777X until 2026.

"And as English people say, let us not cry over spilled milk," he added. "Let us focus on the new delivery."

• Alexander Weber's parent realized his family had money when they moved into a bigger house.
• However, his parents still gave him a small allowance and taught him financial responsibility.
• That pushed him to work, which impacted his career as an entrepreneur.

This as-told-to essay is based on a conversation with Alexander Weber. It has been edited for length and clarity.

Until I was in elementary school, my parents and I lived in a modest apartment. My mom ran her own business, and my dad worked for a major retailer in Germany, where we lived. He was in management, working as a buyer for the whole of Germany. It was an important role, with a solid salary to match. My dad would spend weekdays in another city, visiting us on the weekends. I didn't think much about how much money we had.

Then, we moved to a very large house. Our financial status hadn't changed — my mom and dad had always made substantial money. But suddenly, that was clearer to others, and to me, as a child. Our new house had three stories, a finished basement, and a garage. My parents drove fancy cars like BMWs and Mercedes. That's when I noticed that, compared with my peers, my family was wealthy.

Unfortunately, my dad died when I was 13. However, my mom's business generated a solid income, so she was able to keep our family financially secure, while instilling lessons I still use today.

My parents tied allowance to responsibility

Although we had more material items than many of the people around us, my parents only gave me a very modest allowance. At the time, it was about 25 euros a month, enough to go to the cinema once — twice if I was lucky.

Sometimes I would argue with my mom, pointing out she could afford to give me a larger allowance. But she wouldn't budge. Then, after a few years, my mom offered me a more substantial allowance. If I took it, however, I would be responsible for paying for my needs, in addition to my wants. I would have to budget for clothes and food. At the end of the day, I didn't want that responsibility. I also realized that I might end up with even less discretionary spending money than if I took a more modest allowance.

My small allowance pushed me to work

Since I'd chosen to stick with my modest allowance, I got creative about earning money. I started building websites when I was a teenager and even automated video games to sell in-game currency. Building that entrepreneurial spirit early impacted my career path. As a young adult, I grew my own online companies, focused on helping businesses use social media to increase their sales and online presence. I'm still running those today.

My mom emphasized never having debt

As a teenager, I was exposed to material items, like those flashy cars my parents had, and yearly trips to California. At first, I wanted more of that, but eventually, the novelty wore off. These days, I'm not drawn to luxury or fancy items.

My mom always told me that if you have debt, you give the banks (or credit card companies) control over you. She emphasized that I should always make money before I spend it. I internalized another message: don't buy unnecessary things.

I'm 29 now, but I still live by that rule. I still travel, but it's more likely to be a car or train ride to somewhere else in Europe than a lengthy trip to the US. I really don't buy things for myself. I'll spend it on my business or my girlfriend, but rarely on something I want. When I do, I try to purchase a quality item that will last a long time.

I realized people talked about my wealth

As I got older, I realized people were talking about my family's wealth. California is a big thing to Europeans, and people were impressed that my mom and I spent about a month there every year.

At first I wanted to lean into the status wealth gave me — I even tried my hand at becoming an influencer. But I quickly realized that being flashy made me feel like an imposter. I was being celebrated for something I'd been gifted, not something I earned.

These days, I try to avoid attention. I still live in that big house my parents moved into when I was a child. But it's old now and needs lots of work. I'm looking forward to downsizing, so I can focus on my work and my partner — the things that really give my life purpose.

• LA's wildfires put added pressure on the city's 2028 Olympic hosting gig.
• Historically, most host cities have faced costly overruns.
• LA could be in a stronger position than other cities because of its existing sports venues.

Los Angeles' wildfire rebuilding efforts could be at odds with another multibillion-dollar expense: hosting the Olympics.

The city's recovery efforts face a hard deadline ahead of the 2028 Summer Olympics. Historically, most host cities have faced costly overruns, and LA is already likely to face serious economic challenges in the wake of the fires.

However, Andrew Zimbalist, a sports economist at Smith College, told Business Insider that LA could be in a stronger position than other cities to handle Olympic costs because of the city's existing sports venues.

"I think the 2028 games will provide an opportunity for Los Angeles to show how it's rebuilt itself," Zimbalist said.

While many sports facilities were sparred from the fires, the city's economic losses could reach $275 billion, per the data platform AccuWeather. The estimate accounts for direct costs like emergency response and construction, along with indirect costs like lost employee wages, housing displacement, and hits to the local business scene and job market. Additionally, some experts estimate it could take the city years, or up to a decade, to rebuild.

Zimbalist said he thinks LA is in a good position to "break-even" economically as the Olympics host, in large part because it doesn't have to build any new sporting venues. This will significantly reduce the construction and infrastructure costs that often balloon host cities' spending.

The LA Olympics Games have an operating budget of $6.9 billion, according to the latest estimate provided by LA2028, the private committee responsible for putting on the Olympics and raising funding for the games.

The money is expected to come from International Olympic Committee funding and revenue generated from the Games — which are tied to things like international sponsorship income, ticket sales, and licensing merchandise. These funds will go toward hosting the sporting events and the opening and closing ceremonies, including investments in the city's airport and a downtown convention center.

LA2028 did not respond to BI's request for comment.

LA may be in a strong position to host 2028

If the costs of hosting the Olympics exceed the generated funds, LA has pledged to contribute $270 million to close the gap. If this isn't sufficient, the state of California has committed an additional $270 million, and if that doesn't cover it, LA would be on the hook for the rest. As of July, LA2028 was $1 billion short of its sponsorship goal.

Zimbalist said this insurance policy to cover some of its exposure in the case of a budget overrun is standard for every host city. As things stand, he doesn't expect the Games to go over budget, though he said it's "far from a sure thing."

"I don't see there being a public deficit here overall because there's so little building to be done," Zimbalist said.

While LA might be able to avoid drawing upon public funds, the Olympics are likely to cost US taxpayers. Zimbalist said LA is counting on the federal government to help provide as much as $5 billion in funds for transportation and security costs ahead of the Games. In comparison, the federal government's contribution to the 2002 Salt Lake City Winter Olympics was about $2 billion when adjusted for inflation.

In 1984, the last time LA hosted the Olympics, Zimbalist said LA generally avoided negative economic impacts, which he said was driven by the availability of existing venues, significant IOC funding, and solid financial management from the city's Olympic committee. He said that LA could benefit from the same factors this time.

Host cities often lose money on the Olympics

Many Olympic host cities spend beyond their budget due to unforeseen expenses, construction costs, or an inability to produce enough tourism revenue, per the 2024 Oxford Olympics Study. And, with a higher number of events and athletes, the study reported that the Summer Games are especially expensive.

The Oxford Olympics Study — which analyzed the cost of past Olympics in 2022 US dollars — found that the Summer Games held between 1960 and 2024 went over budget by an average of 195%. In the past two decades, the most expensive Games was Rio 2016, costing $23.6 billion with a cost overrun of 352%, some of which was shouldered by taxpayers.

"When you add it all up, most cities end up with a deficit that could be on the order of $10 or $20 billion, sometimes more than that," Zimbalist said.

In December, Paris announced that it closed the 2024 events under budget, but this only included the operating costs of the Olympics during the 17 days they were held. When operating costs, capital costs related to the Games (like building sporting venues), and indirect capital costs (like investments in Paris's rail system) are all accounted for, Zimbalist estimated that the total spending approached $20 billion.

To be sure, Zimbalist said there are benefits to hosting the Olympics that economic indicators can't measure. While LA will likely still be recovering from the wildfires, he said the Olympics could provide the city with the opportunity to show its progress.

Have you experienced financial challenges due to a natural disaster? Are you open to sharing your experience with a reporter? If so, reach out to [email protected].

• An explosion at a Rheinmetall munitions factory in Spain injured six workers, local emergency services said.
• The German arms manufacturer told BI that the company saw no indication of an attack.
• Russia is suspected of being behind a plot to assassinate the CEO of Rheinmetall.

An explosion at a Rheinmetall munitions factory in Spain injured six workers on Thursday, local emergency services have said.

One person was left with serious injuries following the incident, which occurred in the southeastern Spanish city of Murcia.

Oliver Hoffmann, a spokesperson for the German arms manufacturer, told Business Insider that the cause of the explosion was still under investigation but that the company saw no indication of an attack.

Hoffmann said the site's production facilities were not damaged in the incident.

According to Spain's state register of emissions and pollutant sources, the depot's main activity is the manufacturing of explosives.

Rheinmetall has been a key military aid provider to Ukraine, supplying Kyiv with artillery ammunition, combat vehicles, tanks, and more.

Rheinmetall vehicles delivered to Ukraine include the Leopard 1 and Leopard 2 main battle tanks, the Marder and Lynx infantry fighting vehicles, and the Gepard antiaircraft tank.

The company has also helped train Ukrainian specialists in maintenance and repair tasks.

In February, Rheinmetall said it aimed to produce up to 700,000 rounds of artillery ammunition a year by 2025 at its plants in Germany, Spain, South Africa, Australia, and Hungary.

Armin Papperger, Rheinmetall's CEO, said in a March interview with the German newspaper Süddeutsche Zeitung that the company planned to increase production capacity to 1.1 million rounds a year by 2027.

In 2024, US intelligence reportedly helped thwart a Russian plot to kill Papperger.

James Appathurai, NATO's Deputy Assistant Secretary General for Innovation, Hybrid, and Cyber, confirmed the plot at a European Parliament committee meeting earlier this week.

"What we have seen over a period of the last couple of years in particular, is incidents of sabotage taking place across NATO countries, by which I mean derailment of trains, acts of arson, attacks on politicians' property, threats to…plots to assassinate industry leaders, like publicly the head of Rheinmetall," he said.

The German newspaper Der Spiegel previously reported the Russian scheme had been spurred on by Rheinmetall's plan to establish a tank factory in Ukraine as part of a push to bolster the country's arms industry.

Kremlin spokesperson Dmitry Peskov rejected the reports at the time.

Russia is believed to have been behind dozens of hybrid attacks on NATO members in recent years, including a number of incidents targeting the air freight industry.