A round the world ticket is the best option to travel the world! It is the most economical and above all is the most flexible option of traveling. This ticket allows you to have a one year travel time with you starting and ending in the same city. The best advantage of this ticket is it allows you to change the dates on your tickets for free. So if you like a certain city better then you expected then you can change your ticket and stay longer. Or if you dislike a certain city you can change your ticket very easy to leave to the next destination. All you have to make sure of is that there is a seat available on the next flight out of that city. If you decide to change a city on your trip then that will cost you a fee anywhere from $85 to $150 US Dollars.
The RTW also takes care of the requirements of certain countries that want to see proof when you go through customs showing that you actually have a flight exiting the country in a specified amount of time. Sometimes without this proof some countries will not allow you to go through customs.
The world ticket actually lets you plan your trip according to what you would like to see around the world. There are three main companies that have a world ticket. There is One World, Sky Team, and Star Alliance. All three of these companies use about 7 or 8 different airlines that function under one company to help you travel around the world. You can book the trip through these companies or through a travel agency.
In order to purchase the RTW you need to do your research before you book the ticket. You need to plan the cities you would like to see, and also have dates ready to give either a travel agent or the participating companies. When planning your trip you need to realize that you can fly into a city and then travel through a country or continent by taking buses, renting cars, or trains. So allow yourself time to see some other parts of the country and then fly out of the city you flew into or choose another city within that continent.
The price of the ticket depends on how many miles you choose to travel during your world trip. You can get the prices by checking with any of the companies that I mentioned above. Make sure that you get your paper tickets before you leave on your trip. These tickets are not booked through e-tickets. It is very important that you keep these tickets and do not lose them. They will charge you an additional fee to re-issue them.
Once you have decided on your itinerary, make sure that you make a copy of that and a copy of your passport. I would then give those to a family member or friend to keep during your trip. If you are ever "lost" or lose your passport then they will be able to help you out!