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Message
Taking Advantage of Low Cost of Living
Posted on 7/21/19 at 1:06 pm
Posted on 7/21/19 at 1:06 pm
Let's say you have a solid job in the United States but could do it anywhere in the world that has internet access. You could move somewhere like India that has a really low cost of living and live like a king on an average American salary.
Has anyone done this, thought about doing it, or know someone who has done it?
Has anyone done this, thought about doing it, or know someone who has done it?
11
Posted on 7/21/19 at 1:11 pm to Globetrotter747
quote:
You could move somewhere like India
You ever been to India?
Posted on 7/21/19 at 1:14 pm to Globetrotter747
I’d be curious how that would work with taxes and immigration status in said country, but I’m sure you could do it somewhere.
This post was edited on 7/21/19 at 1:15 pm
Posted on 7/21/19 at 1:17 pm to Globetrotter747
Move to Puerto Rico and you will get a lower cost of living, tropical weather and no federal income taxes.
And yes a bunch of people have done just that.
And yes a bunch of people have done just that.
Posted on 7/21/19 at 1:17 pm to Mingo Was His NameO
quote:
You ever been to India?
Yes.
Posted on 7/21/19 at 1:24 pm to Globetrotter747
quote:
Yes
Then I can't believe you'd ever consider moving there
Posted on 7/21/19 at 1:36 pm to Globetrotter747
I imagine there are many better places to choose from versus India.
Posted on 7/21/19 at 2:09 pm to jimbeam
Caribbean island would be ideal IMO
Posted on 7/21/19 at 3:09 pm to CivilTiger83
quote:
Puerto Rico
IDK...i spend a lot of time there visiting my inlaws and things are just as expensive (if not more so) than in the states.
Posted on 7/21/19 at 7:02 pm to Globetrotter747
Find the best scoring public school district in every southern state and research cities/towns in these districts.
This post was edited on 7/21/19 at 8:22 pm
Posted on 7/21/19 at 7:09 pm to Globetrotter747
Moving out of the country complicates it, but I've done similar here within the US.
I lived in NYC/northern NJ for 10 years, built a solid foundation for my career, made the right connections, and made a pretty average wage for the area.
Then I moved to a low cost of living area here in the panhandle of FL, making the same gross income. No state/local income tax, work from home (no commuting/tolls/gas.)...the money goes a LOT further. Can't say I planned it this way but it was the best financial move I've ever made.
I lived in NYC/northern NJ for 10 years, built a solid foundation for my career, made the right connections, and made a pretty average wage for the area.
Then I moved to a low cost of living area here in the panhandle of FL, making the same gross income. No state/local income tax, work from home (no commuting/tolls/gas.)...the money goes a LOT further. Can't say I planned it this way but it was the best financial move I've ever made.
Posted on 7/21/19 at 7:10 pm to Globetrotter747
Much of Central and Eastern Europe is poorer, but would offer a great quality of life.
Posted on 7/22/19 at 12:11 am to Globetrotter747
Baja California baw.
Posted on 7/22/19 at 6:18 am to Mingo Was His NameO
quote:
Then I can't believe you'd ever consider moving there
I was mostly just using it as an example.
Posted on 7/22/19 at 6:34 am to Globetrotter747
Friend of a friend tried to do this in Mexico and lasted just 6 months. Her Spanish was merely passable, and she found it difficult to transact daily life without sufficient language skills. Duh, amazingly she thought she could get by on English in rural MX.
Posted on 7/22/19 at 8:09 am to Globetrotter747
If you need ‘good’ internet, like guaranteed usable daily internet that limits your options quite a bit honestly as people don’t realize that many developing countries still have routine outages.
Are you single OP? That changes some things.
If I was single, what I’d do is own a cheaper home in the states and then live abroad for months at a time.
Are you single OP? That changes some things.
If I was single, what I’d do is own a cheaper home in the states and then live abroad for months at a time.
Posted on 7/22/19 at 8:15 am to baldona
FWIW there’s a bama guy on here that does this now. I think it’s Iluvbama or something like that, he’s been living in cheap area of South America and Asia for a couple of years.
Yes that is absolutely possible.
Yes that is absolutely possible.
Posted on 7/22/19 at 8:20 am to baldona
I Love Bama. Lives somewhere in south/central America. Was in real estate now in some kind of e-business I think. He’s probably doing cocaine off some tan arse right now.
This post was edited on 7/22/19 at 8:21 am
Posted on 7/22/19 at 11:24 am to Globetrotter747
I’ve always thought about doing this but my biggest concern would be if me or my wife would get sick. I’m scared that any of those countries would have no where near the health care that we have in the United States
Posted on 7/22/19 at 12:00 pm to BowDownToLSU
A trip to Portugal made me really contemplate this. COL is super low and the lifestyle is amazing. It’s my hidden gem of Europe thus far.
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