Mrs and I did 4 months or so, bridging family things in India and NZ – a 10 leg round the world ticket was cheaper than two returns. Mrs was finishing a contract, I asked for and got the time off unpaid, we had savings and no house (just renting a couple of rooms in a house share) or kids.
Roughly a month in India – family bits then off travelling around by rail. Then flew out to Singapore, overland up through Malaysia into Thailand, over to Australia and spent a month in a campervan down the east coast, then NZ and back via a week or so on the west coast of the US.
Was a lot of fun, the second half way more expensive though. Didn’t plan a lot, just knew where we needed to be for flights and made the rest up as we went. Wasn’t hardcore travelling on a shoestring but wasn’t lavish luxury travel either.
Highly recommend doing it if you have a suitable gap in your life for it. Trouble is now we need to wait 16+ year until we can do similar again!