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Originally Posted by Parcero
While the romance of a long-term non-stop round-the-world trip is intoxicating, the reality is that not many people can do it due to time/money/logistics.
Keep having fun and stay flexible with your plans, and enjoy the fact that you can be as flexible as you want. 
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Originally Posted by Ebbs15
I like this mentality. find a place you wanna stay for a bit, explore, soak in it's culture and scenery. Then, when ready press on.
Especially in South America where the cost of living is cheap (so I've heard, no first hand experience) it sounds like a great way to "time" your trips for the best season in the next country you conquer.
Hopefully this fellow Oregonian can buy ya a beer or three. 
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The cost of living is relatively cheap in SA depending on how you want to travel. I am almost 50 and the youth Hostel are OK once in awhile, but I have been there done that. Traveling with two people certainly helps keep the hotel costs down to $10-30 a night depending. You can certainly go up from there.
I have not kept that great a track on my daily costs here in SA but probably around $50-60 as I have splurged a few times on a nicer place!
Will look forward to a few beers with you!