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Old 04-12-2016, 06:54 AM
 
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I read that many people are moving overseas in retirement to live frugally. An interesting concept. But if you moved to the a cheap low cost of living place like in South America- is it actually cheaper than living in a small town in a low cost of living place in the south?

Anyone on this board move overseas to live frugally because you determined it is cheaper than anyplace in America? Tell us about it!
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Old 04-12-2016, 07:10 AM
 
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Here's some interesting figures on this

Counting the Uncountable: Overseas Americans | migrationpolicy.org

The census folks estimate that there are nearly 7 million Americans living in other countries, and I'm sure that many went for reasons other than money. It's something I've wanted to do for some time, but the wife doesn't wish to leave the states because her sons are here. Cuba would be high on my list, but having never been there, and having to depend simply on the internet for what life would be like, might mean it isn't like I think it is. Like most things in life, there's only one way to definitively find out. Its technically illegal to immigrate to Cuba anyway, but there are ways to live there pretty much permanently it seems.

I've known more than a few people who moved to Vietnam and Thailand and loved it. It's probably impossible to say w/ certainty about the cost factors, as it depends on how each individual lives, but for sure there are countries like Panama where your money would go a lot further than in the states. You can live cheaply in some cities in this country, but you have to ask yourself, do I really want to live in those places? There's a reason they're so cheap to live in....most people don't like it there.

Last edited by smarino; 04-12-2016 at 07:21 AM..
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Old 04-12-2016, 08:31 AM
 
Location: USA
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Cheaper to live in the US if its the right area of the country.
Medical can be free for low income households. Products, cars, gas almost always less. Social services available.
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Old 04-12-2016, 11:00 AM
 
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Depends....

Haircut in US: 30 dollars
Haircut in India: 30 rupees (less than 50 cents US)

Healthcare is also dramatically cheaper overseas, especially prescriptions. If you have money for a comfortable retirement here, there are many parts of the world where you could go live like a king. The question is whether you actually want to live in those places.
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Old 04-13-2016, 01:44 AM
 
Location: Las Vegas
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The key is are you willing to live like a local? If you are, life can be less expensive in other places. If you want to live like an American Expatriate...it will cost more.
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Old 04-13-2016, 07:15 AM
 
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The first question - do you satisfy visa requirements? Are you willing and able to live on the standard your regular income not produced locally allows you to have?
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Old 04-13-2016, 09:29 AM
 
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I can't imagine leaving once family/friends behind to live in other side of the world among strangers on your last few days. Isn't this what community building is all about?


On other hand I have a co worker who has decided to retire in Czech Republic to save money. But his wife is from that country and has some family there. He has no living family and they only have one daughter who rarely visits them. In their case I understand
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Old 04-13-2016, 07:54 PM
 
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Quote:
Originally Posted by keraT View Post
I can't imagine leaving once family/friends behind to live in other side of the world among strangers on your last few days. Isn't this what community building is all about?


On other hand I have a co worker who has decided to retire in Czech Republic to save money. But his wife is from that country and has some family there. He has no living family and they only have one daughter who rarely visits them. In their case I understand


I cannot imagine living that far from family and missing all the funerals and weddings and the like. Those type of expenses never seem to get factored in on the ex-pat websites. Too many of them are focused on the $1 beers and the 30 rupee haircuts. Also not factored into many of the analyses is the cost of healthcare overseas for major issues. Sure, it is cheaper than the US but there is significant expense if your locale does not have the services that you need.

In the 70s, I remember a number of naturalized US citizens from the Polish community in Cleveland were heading back home as they figured that they could live a meager existence in the US or live like kings on their social security checks in Warsaw. However, there were an equal number of Poles who liked the idea of being completely out of Europe and away from communist life.
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Old 04-14-2016, 02:28 AM
 
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I haven't tried living abroad yet, but I live very affordably in the south. The biggest things are paying off the house and car. In many parts of the country you can buy a decent enough small home for $50-75k. That's what I did.

Clothing would cost me the same as I don't buy unless at a DEEP discount.

Haircuts would cost the same because I cut my own hair.

Entertainment would cost me about the same (no expensive hobbies).

No idea how cable, cell, Internet service, etc compare, but all those things are somewhat optional.

I just don't see myself saving much money by living abroad. That doesn't mean it wouldn't be fun though.
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Old 04-14-2016, 04:27 PM
 
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If I retired overseas, I would miss the following in America:

Movie Theatres
Large Shopping Centers
Golf Courses
Libraries
Bowling Alleys
Nice Parks with trails
A common language that most people speak, that I do too!
Ability to get in my car and drive to all kinds of interesting places
All the great restaurants (Including fast casual American chains they don't have overseas)
Great Healthcare
American Cable TV
Fast and reliable Internet
Adult Education classes

To me, I would have to save thousands of dollars to give up those things!
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