Has anyone considered early retirement in a low cost of living country?

I visited Bali once and was paying much less for a big house than I was for a small apartment in California (I know, I know). The climate was amazing, the food was excellent and cheap, I was right next to the beach.

Is there any reason someone who can shouldn't do this?

likesmartfunny
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Living somewhere is very different from visiting. That being said, maybe you’d like living there. Maybe take an extended trip?

Also, you could even semi-retire. Find an online remote gig that pays you $20k for 10-15 hours a week and live like royalty

likesmarthelpful

For a second I thought I posted this

funny

Bro the mountains of Afghanistan and beaches of Tripoli are crazy cheap right now. Tempted, but strong wifi is a factor.

likefunny

I know you’re kidding.

But for those where the joke flew over their heads, don’t do it!

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The fact that you have no real right as a foreigner – becomes acutely severe during a pandemic. You’ll also always be wrong in case a disagreement occurs and you’ll have to cough up money. The fact that you’re always considered like a walking wallet because you’re foreigner. Also you need to consider your moral compass when living in a country with a state religion that opposes some of your values. Most of the “bad aspects” aren’t really visible during “normal” times however so I can appreciate why you’d consider that option.

likefunny

Freedom from religion needed.

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likefunny

No need to wait for retirement. BCG consultant here, working from Bali for the past 18 months or so.

Four points roughly in line with what others have said:
1. Standard of life with MBB salary is ridiculous here. Like what you’d get in California as a multi-millionnaire
2. Missing family & friends from home makes it hard to see this as a long term life choice
3. Local foreigners’ community can mitigate (2), esp. in places like Bali
4. Lack of rights as foreigner is a pain (e.g. owning land), and you have to accept you will forever be an outsider

PM me if you want to know more

likehelpful

18 months was pre covid 🧐

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FIRE

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I recommend not waiting until you retire. Find a remote job and then make the move. Nothing like earning a US salary while living abroad

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Haha in that case, lmk if you need a roomie lol

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Yes! I’m working in the US now and I plan to go back China for an early retirement. I suggest you to do an experimental retirement in the location you picked, like a 2 months PTO or unpaid leave, and see whether you really like it.

likesmarthelpful

My wife (mainland Chinese) and I have thought of this in retirement.

helpful

Thinking about it almost everyday. Chiang Mai and Bangkok in Thailand are also on my radar for an early retirement in a low cost of living country. Great food, friendly locals, nice real estate and I’m into the tropical climate.

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I’ve been to Bali four times and fell deeper and deeper in love with it each time. That being said you are not allowed to buy property on your own in Bali. My ex and I looked into it almost 20 years ago and at the time we were told that it has to be bought in your name and the name of a local and after 99 years it automatically reverts back to the local’s family. We were disappointed, but it made sense given that you don’t want foreigners taking over the country. I’m curious, if you were to move there would you settle down by the beaches like Sanur or Kuta, or would you head up to Ubud? I daydream about settling down in Ubud all the time….sigh

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Consultant 5, When I think of the term ex-pat I think of people who are in a foreign country for a period of time but have not settled down there for good.

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Also think about health care

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Everyday. Bali, you say?

likesmartfunny

You should totally do this! :)

upliftinglikesmart

Thailand is another great option. It is a bit more international

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Think Thailand, South of Spain/Italy/Portugal, Costa Rica... so many great options

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MK3, you’re saying it’s more expensive to buy an apartment in San José CR or Lisbon than in Miami? That’s not what I’ve seen

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I went to Argentina and you need less than 1k/month to live lavish there. Even less in Colombia. I can’t wait for my passive income to replace my active income so I can go live overseas

likesmart

If you avoid high-end area and stick to a steady street food diet, I am sure you can eat for $4 a day.

The irony of 'mericans saying they want to move to another country, without regard for visa is not lost.

likefunny

Southeast Asia visas are easy to get though.

I know someone who packed up and moved to Bali. Shes living her best life. I went to visit and its def doable but whew if its not far as hell lol

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Read: Your money or Your life

helpful

There's an entire community out there that does exactly this called FIRE (financial independence, retire early). If you look into it im sure you will find more resources than you can possible consume

likehelpful

Yep, we’re doing it!! Living on social security would be more than enough for us haha

likeuplifting

North Africa! Beautiful beaches and low cost of living, can’t wait hehe

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