I am traveling the world for one year with my wife, Gretchen, and two young daughters Emma and Mia. I worked at Microsoft in the Seattle area for 17 years and my wife was in marketing. We quit our jobs and started our gap year in September 2012. We are homeschooling the girls as we travel throughout South America, Australia, New Zealand, India, Nepal, SE Asia and Europe. Our goal is to become citizens of the world, that just happen to be born in the USA.
We are primarily staying in nice hostels and BnB's, but occasionally rent an apartment or stay in a hotel or resort - it's important that we watch our budget for an entire year of travel.