I'm looking at retiring early spring 2027 and selling my home, and using that equity (interest + SS) initially to travel and then possibly settle down, or at least have a home base. I know i'm not ready to do things right this minute because this is my busy time of year at home, but is there an ideal time before I pull the trigger to start the conversation.
I can appreciate all the research and knowledge that you bring to such complex decisions, but what I’m always left wondering is the Why behind what these people are doing… For example, there are places within the USA with similar weather, etc. to San Miguel, so why would a U.S. citizen take on so much extra “work” rather than the easier lift of searching for the lifestyle, improved tax situation, etc. within their own country? They can still travel the world to their heart’s content. I’d love to see this kind of background given, at least briefly, for the stories you present.
That’s a great question Carolyn, and I appreciate you asking it.
I can partly answer it from my own life. I left Germany years ago. My reasons: the weather, yes, but also taxes, a culture that never quite fit me, and healthcare costs that were tied to my income rather than to what I actually needed.
Three of those four had nothing to do with geography inside Germany. Moving from e.g. Frankfurt to Munich would have changed exactly one of them.
From my US client’s experience, it’s similar. If you move from California to Texas you're still inside the same legal system, the same healthcare system, and the same political cycle.
One country still has full control over your money, your health costs, and your legal status.
Looking at data instead of my “qualitative approach” a recent Harris Poll found 86% of Americans considering a move abroad name affordability as the top factor (e.g. US health insurance premiums now average around $18,000 per person per year). Moving the state within the US does not fix that underlying structural problem.
But the people who actually made the move say it better than I can.
@Lorraine, @Rhetta Standifer, @Kimberly Anne, @Expat Prep want to add to this?
Thank you for the tag, @Benjamin Hies! Happy to add to this.
For me it wasn't only about weather or lifestyle preference, those exist in plenty of places inside the US too. It came down to values, a culture that treats healthcare as a basic human need rather than something tied to your income or your employer, a culture that doesn’t expect people to work 24/7 and a true sense of community which I didn’t have in the US. Changing states didn’t change any of that. The values stayed the same, the healthcare was the same and while I did find some community in another state, it still wasn’t anywhere near the community I’ve found abroad. Moving states=the same underlying values wrapped in different scenery.
Moving countries changes which set of values and systems you're actually living inside day to day. That's a structural difference, not a surface one, and it's the part that is impossible to see or quantify if you're only comparing climate or cost of living.
For me, my immediate reason is I’m struggling to find 24 hour (affordable) help for my husband who had a stroke. In Panama and Thailand, the care is affordable. Plus, in Panama, the apts have an extra room for a live-in. I wish it was easier in the US!
I’ll second what Ben is saying. My husband and I are in the process of preparing for a move to Portugal. Originally, we were going to move from Illinois to the US Northeast. Yes, for geography and climate. But ultimately, that move wasn’t going to touch on the issues we had with healthcare, taxes, cost of living, you name it. We feel very lucky we found Ben! We feel Portugal is a much better fit for us with regard to every issue we had and we’re excited about our decision. I’m writing about this on my Substack, if you’re interested: https://rhettastandifer.substack.com/ If you have any questions or just want to chat, let me know!
I will be reaching out to work with Ben later this year, when I'm closer to my leap. There are multiple reasons for my why...
1) I can't afford to live in my home unless I keep working in the USA. My social security only covers my property taxes. I don't have an IRA/401k. What I DO have is a home that has increased exponentially in value. Properly invested, that equity should buy me the freedom I want to be able to travel and potentially have a base somewhere else. If I stay here, at best, I will have to move to another state and down size into a small apartment, and I wouldn't be able to afford to travel.
2) The current state of politics. I've been watching my country go downhill for the last couple decades. None of what is happening right now surprises me because I actually I've been trying to tell people for the last 20 years that we were heading in a really bad direction. And what is going on now is going to take decades to undo. I'm tired of trying to get people to wake up. I want to be able to enjoy my last a decade or so of mobility before the body starts to slow me down.
3) To Ben's point about where we keep our money... I don't trust this country to not go into a financial collapse within the next 10 years. Probably sooner if things don't change. I've already been talking about trying to figure out how to get my money out of the country and into a safe place. I don't have a lot, so I have to make sure that I protect every penny I have.
Great to connect! I also write and freelance in the fintech & crypto space. Happy to support each other's work just subscribed. Would be open to collaborating down the line if there's a good fit.
I'm looking at retiring early spring 2027 and selling my home, and using that equity (interest + SS) initially to travel and then possibly settle down, or at least have a home base. I know i'm not ready to do things right this minute because this is my busy time of year at home, but is there an ideal time before I pull the trigger to start the conversation.
I can appreciate all the research and knowledge that you bring to such complex decisions, but what I’m always left wondering is the Why behind what these people are doing… For example, there are places within the USA with similar weather, etc. to San Miguel, so why would a U.S. citizen take on so much extra “work” rather than the easier lift of searching for the lifestyle, improved tax situation, etc. within their own country? They can still travel the world to their heart’s content. I’d love to see this kind of background given, at least briefly, for the stories you present.
That’s a great question Carolyn, and I appreciate you asking it.
I can partly answer it from my own life. I left Germany years ago. My reasons: the weather, yes, but also taxes, a culture that never quite fit me, and healthcare costs that were tied to my income rather than to what I actually needed.
Three of those four had nothing to do with geography inside Germany. Moving from e.g. Frankfurt to Munich would have changed exactly one of them.
From my US client’s experience, it’s similar. If you move from California to Texas you're still inside the same legal system, the same healthcare system, and the same political cycle.
One country still has full control over your money, your health costs, and your legal status.
Looking at data instead of my “qualitative approach” a recent Harris Poll found 86% of Americans considering a move abroad name affordability as the top factor (e.g. US health insurance premiums now average around $18,000 per person per year). Moving the state within the US does not fix that underlying structural problem.
But the people who actually made the move say it better than I can.
@Lorraine, @Rhetta Standifer, @Kimberly Anne, @Expat Prep want to add to this?
Thank you for the tag, @Benjamin Hies! Happy to add to this.
For me it wasn't only about weather or lifestyle preference, those exist in plenty of places inside the US too. It came down to values, a culture that treats healthcare as a basic human need rather than something tied to your income or your employer, a culture that doesn’t expect people to work 24/7 and a true sense of community which I didn’t have in the US. Changing states didn’t change any of that. The values stayed the same, the healthcare was the same and while I did find some community in another state, it still wasn’t anywhere near the community I’ve found abroad. Moving states=the same underlying values wrapped in different scenery.
Moving countries changes which set of values and systems you're actually living inside day to day. That's a structural difference, not a surface one, and it's the part that is impossible to see or quantify if you're only comparing climate or cost of living.
Love it!
For me, my immediate reason is I’m struggling to find 24 hour (affordable) help for my husband who had a stroke. In Panama and Thailand, the care is affordable. Plus, in Panama, the apts have an extra room for a live-in. I wish it was easier in the US!
Hey Carolyn!
I’ll second what Ben is saying. My husband and I are in the process of preparing for a move to Portugal. Originally, we were going to move from Illinois to the US Northeast. Yes, for geography and climate. But ultimately, that move wasn’t going to touch on the issues we had with healthcare, taxes, cost of living, you name it. We feel very lucky we found Ben! We feel Portugal is a much better fit for us with regard to every issue we had and we’re excited about our decision. I’m writing about this on my Substack, if you’re interested: https://rhettastandifer.substack.com/ If you have any questions or just want to chat, let me know!
I will be reaching out to work with Ben later this year, when I'm closer to my leap. There are multiple reasons for my why...
1) I can't afford to live in my home unless I keep working in the USA. My social security only covers my property taxes. I don't have an IRA/401k. What I DO have is a home that has increased exponentially in value. Properly invested, that equity should buy me the freedom I want to be able to travel and potentially have a base somewhere else. If I stay here, at best, I will have to move to another state and down size into a small apartment, and I wouldn't be able to afford to travel.
2) The current state of politics. I've been watching my country go downhill for the last couple decades. None of what is happening right now surprises me because I actually I've been trying to tell people for the last 20 years that we were heading in a really bad direction. And what is going on now is going to take decades to undo. I'm tired of trying to get people to wake up. I want to be able to enjoy my last a decade or so of mobility before the body starts to slow me down.
3) To Ben's point about where we keep our money... I don't trust this country to not go into a financial collapse within the next 10 years. Probably sooner if things don't change. I've already been talking about trying to figure out how to get my money out of the country and into a safe place. I don't have a lot, so I have to make sure that I protect every penny I have.
Looking forward to it Pamela!
As for the money part, feel free to reach out anytime before your leap, as there are things that can be set in motion, even before you move.
And if any questions arise on your journey, let me know! 🫶
Sounds like you are being very methodical and rational. Thanks for sharing and best of luck!
Thanks Carolyn! I think this is a German trait ;)
Great to connect! I also write and freelance in the fintech & crypto space. Happy to support each other's work just subscribed. Would be open to collaborating down the line if there's a good fit.