Good question. In a way, a year is a lot of time. Think of how much change has occurred in the past 12 months: emerging politicians, a wild stock market, a wrongful Deflategate, etc. And 365 days is a long time for anybody to be living out of a backpack.
On the other hand, 12 months to “see the world” is really not long enough without sacrificing the quality time that so many places deserve. This leaves the challenge of deciding where to go and how long to stay, not to mention how to get there, what visas are required, how much it will all cost, etc. Fortunately, there’s no need to plan much of that ahead of time. Aside from your high school math teacher who had every lesson planned out for the entire year, it’s simply impractical for the rest of us to do so. If we’re not happy where we are, there’s always a bus, train, or plane nearby.
What we can say is that we plan to devote at least the first three months to South America. The first month will be largely planned out with various expeditions through Ecuador and Peru. Even though April is the rainy season in the Andes, the Inca Trail permits still sell out.
From there, we’ll go further south, I suspect Bolivia – Chile – Argentina – Brazil. After South America, a broad brushstroke would put Europe next, followed by Asia and maybe the South Pacific. That said, you never know what types of opportunities or problems will be presented. There are always unexpected changes in any given year, and this one won’t be an exception.