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It's also pretty clear the OP is the same guy who keeps changing user accounts and posting made up stories, so maybe this whole conversation is pointless...
I don't think it is pointless. An oversees adventure appeals to me and perhaps others, and reading the comments (especially those that have lived it or researched it) is interesting. For people of certain means (and that would include many who consider themselves of modest means) and of a certain age there are many adventures to be had and many ways to slice and dice the experience for each unique person. There have been some comments about visas and banking and what obstacles they might present. It is very important to do your research but there are many countries available to live in where the paperwork and banking matters are not so bad once you wrap your mind around all of the requirements. But I do think this is something that should only be contemplated by those whose primary reason is the adventure of it all. If you go down this road with finances being the primary reason (unless you have a wad of cash) it will likely end in tears or bitterness.
The flip side is true as well - many people who did work very hard don't have much in the way of pension, either. One of the companies I worked for got raided as part of a buyout - no pension for the 10 years I worked there. So, sure, you did work hard to get that pension, but don't forget that there are many people who worked just as hard and don't have that fallback.
This is true. And its a shame. But right now, most workers are not covered by pension plans. So, this is the wave of the future, I think.
Just seems to me unless you want the "adventure" it's a lot of work to move to a foreign country for two years just to save money and then move back to the US. If I wanted the "adventure" I'd just take a couple of one month trips during those two years or whatever and just find a cheap place in the US to live on for 2k a month. It might be difficult in the urban areas, but there's thousands of other locales in which you can do that. I mean, you aren't gonna live high on the hog anywhere for 2k, but some places will be more survivable than others, for sure.
This is what I was thinking. I don't think people should move to another country only to save money. Sure, it can be a big consideration, but it can't be the only one. You really do have to have a flexible mindset if you move elsewhere. I think I am more flexible (i.e. I am quasi-fluent in Spanish, live a very modest lifestyle, etc.) than most Americans, but as I hit my mid 40s, the appeal of living in one of the nicer 3rd world countries is beginning to diminish.
Lets see, when is the last time you heard of someones Roth Ira, or 401K being cut? Or ESOP shares being taken away? Obviously you like opinions masked to look like facts.
Agreed. Bottom line is, pension or not, you need to start saving a good chunk of your income for retirement (10% or more) from the first paycheck you get (in a balanced or target date fund). Most people don't do anything close to that. That's why most are broke--or nearly so--in old age.
I guess my other point was that, in the case of the small Minnesota city. You are also... in small town Minnesota . After seeing what my grandma went through, it seems like a pretty miserable place to retire, IMO. In Costa Rica you are by the beach, in a town that you can at least sort of walk around, with a more reasonable climate. Of course, as someone else pointed out, all of this discussion is moot if you don't meet the visa requirements. It's also pretty clear the OP is the same guy who keeps changing user accounts and posting made up stories, so maybe this whole conversation is pointless...
Lol. Yes, a little fishy that the OP hasn't responded. Well, I think I'm done on this subject.
This is what I was thinking. I don't think people should move to another country only to save money. Sure, it can be a big consideration, but it can't be the only one. You really do have to have a flexible mindset if you move elsewhere. I think I am more flexible (i.e. I am quasi-fluent in Spanish, live a very modest lifestyle, etc.) than most Americans, but as I hit my mid 40s, the appeal of living in one of the nicer 3rd world countries is beginning to diminish.
Yep. Well, seems the orignal intent of the now disappeared OP (lol..fictitious?) was mainly to save money for two years until SS eligible. If that was the goal and they also wanted have some adventure, travel, experience something different, etc. then sure, why not spend it in a foreign country. They know they are coming back to the US. (They will have to contend with visa issues. It's not like you can just move somewhere beyond the usual 30 day tourist stamp and stay for two years without jumping through some hoops..somtimes these hoops are considerable and not very negotiable.) But maybe they want to spend the two years in an inexpensive, interesting country.
If the travel, spirit of adventure, etc is not their goal, I wouldn't advise moving to a foreign country merely to save money when there are plenty of places in the US one could move and accomplish that goal.
I don't think it is pointless. An oversees adventure appeals to me and perhaps others, and reading the comments (especially those that have lived it or researched it) is interesting. For people of certain means (and that would include many who consider themselves of modest means) and of a certain age there are many adventures to be had and many ways to slice and dice the experience for each unique person. There have been some comments about visas and banking and what obstacles they might present. It is very important to do your research but there are many countries available to live in where the paperwork and banking matters are not so bad once you wrap your mind around all of the requirements. But I do think this is something that should only be contemplated by those whose primary reason is the adventure of it all. If you go down this road with finances being the primary reason (unless you have a wad of cash) it will likely end in tears or bitterness.
After being laid off my job of over 25 years and getting the bad news that the job market for professional people is lousy if you are pushing 60, my desire for a new career type job is slowly going away.
My wife and I just may retire on shoe string until we can collect Social Security in a few years.
We figure we can liquidate all our assets by selling our home and lots of our possessions and come out with enough money that we can live on $2000 a month between us by taking an annual 5% distribution. It is not much money but maybe we can do it in a small town or maybe overseas.
How about Costa Rica or Ecuador? Can we live well in places like that for $2000 a month? Or could we have a similar standard of living in a place like Ocala FL or other low cost of living southern town? Please advise.
To answer your question, yes. Because if I am not satisfied with my life by the time retire, then I will just move overseas.
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Originally Posted by great discussion
How about Costa Rica
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Originally Posted by great discussion
or Ecuador?
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But if you can give up some of your materialism and if you think you can live off of 2K per month by moving to another place, you should look into that first. There are many areas in U.S.A. where the cost of living is not that high.
I'd avoid Ecuador: a left-wing, anti-American administration is not what I would call a great guarantor of property rights for an American ex-pat.
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I Will Be Doing The Same Thing:
