Post: #26

(12-18-2018 11:30 AM)WhatTheFuck Wrote:  The idea that there is some mythical number you need to accumulate in your bank account first before traveling is one of the main things keeps people from ever leaving the couch. Even if you get to 500k, you're still going to be worrying that it isn't going to be enough. You'll always have that voice in the back of your head will tell you, "what if something goes wrong, maybe I should just wait until I get to a million instead, then go". Then a million becomes 1.5 and so forth.

Better to just pull the plug and buy that ticket in my opinion, figure the rest out later.

Of course you don't want to be completely broke. That would add a lot of stress to your life. But if you set off with 10k-50k and a plan to make a little remote income, you should be more than fine.

Its a pretty big risk jacking everything in and quitting the developed world entirely with as little as 10-50k in the bank. But its also a huge waste to never travel long term in your 20s. Working a professional job with a reasonable amount of holiday time is probably the best compromise.

Pretty much anywhere in Western/Northern Europe gives 6 weeks a year of holiday leave or more, which means its possible to take month long holidays to SEA, South America, or anywhere else that tickles your fancy once a year. While at the same time having a job that pays well enough to return to, that allows still stacking cash for an eventual (hopefully) early retirement.

Its a lot rarer in the US, but Americans can either a) try to move to firms with better leave entitlements (tech firms are usually the best of a bad lot) or b) try and move to Europe. Either by getting an internal transfer in a company with EMEA offices, or by claiming an Italian or Irish passport and moving independently.

Post: #27

(12-18-2018 12:38 PM)Graft Wrote:  Some stocks give 10% dividend but that is rare, probably better to do growth stocks and take profits if you want that high from equities.

High performing REITS can get around the 10% range, real estate crowdfunding and peer to peer lending can be a little higher as well.

Another idea is to spend 50k or so on empire flippers for a simple site that has consistent $2k monthly profits. If it goes bust you still have a modest income from the interest.

I'm not here to get into something with you but as I said I just don't believe you have actually done any of the above and spent a good amount of time overseas. If you have, then you would already know your exit number, lifestyle, and risk tolerance so you wouldn't be asking the question.

All you have mentioned above sounds great until your monies are on the line, your assets are depreciating and you face the decision to either liquidate your assets and save what is left of your net worth or risk it all because the income stream from those assets is what is paying your Airbnb/rent/food/lifestyle overseas.

Post: #28

(12-18-2018 11:30 AM)WhatTheFuck Wrote:  The idea that there is some mythical number you need to accumulate in your bank account first before traveling is one of the main things keeps people from ever leaving the couch. Even if you get to 500k, you're still going to be worrying that it isn't going to be enough. You'll always have that voice in the back of your head will tell you, "what if something goes wrong, maybe I should just wait until I get to a million instead, then go". Then a million becomes 1.5 and so forth.

Better to just pull the plug and buy that ticket in my opinion, figure the rest out later.

Of course you don't want to be completely broke. That would add a lot of stress to your life. But if you set off with 10k-50k and a plan to make a little remote income, you should be more than fine.

These two agree with you:

Post: #29

There's a happy medium between begpacking and saying one needs 5M or some arbitrary large number.

Maybe the bigger question is: does one plan on coming back/back to work? That should dictate decision making.

Post: #30

If you want to live in a 3rd world country and live like a local you can live comfortably with $1000 USD a month, but that isn't going out for every meal and living in a luxury apartment. In most shit hole countries that won't cut it for living in a 1st tier city either.

That being said who wants to live like a local? Most of us on here travel to 3rd countries because they are cheap and the girls are friendly. Would I want to be Juan Pablo living in Latin America making $3hr, no fuck that.

Post: #31

(12-18-2018 12:31 AM)Prince Charming Wrote:  

(12-17-2018 11:34 PM)Graft Wrote:  

(12-17-2018 11:27 PM)Waqqle Wrote:  

(12-17-2018 11:23 PM)Graft Wrote:  Lump sum of cash, pension is different. You don't have as much control, can't make any moves with the cash like downpayments, business investing etc.

Phils/Thailand can be a good option but not someplace I want to settle down indefinitely.

Have you got any specific countries in mind that you might want to settle in indefinitely or are you planning to not settle indefinitely at all and keep bouncing around? There are two different strategies for both of these options. Also, what is your nationality? That actually does make a difference and there are certain treaties and things like that which can give you an edge in certain countries.

Nationality is American, I have a darker mediterranean look.

I think 2-3k/mo can give me most of the options I'd look for. I'd be interested in the first or second most prominent city in any country I'd live in. Medellin, Belgrade, Kiev, Split, possibly even Mexico City.

I retired in medellin on around 300k usd. Until I dont want to live with roomates anymore I dont have to work ever again while still increasing networth. Im frugal but high standard of living by north american standards.

My minimum (!!) budget for Medell
ín would be $3,000USD/month broken down something like this:
$1200/month for furnished apartment in Poblado (gotta have AC)
$100/month for phone service
$100/month for medical travel insurance
$100/month for groceries (minimum)

That leaves about $50/day every day for restaurants, clubbing, movies, transportation, traveling to Guatape, Cartagena or San Andres, incidental expenses (clothes, replacement electronics, medical/dental visits, filing taxes, dry cleaning, etc.) and deep tissue massages due to too many years behind a damn keyboard.

Younger guys can probably shave off a few bucks here and there but I can tell you, having roommates (not by choice) because you can't afford a decent lifestyle on your own will suck major balls when you get a little older.

I don't even think $4000-5000USD/month will put you in the baller category if you like traveling and clubbing frequently.

Post: #32

It's a dumb thread but I will bite

Is it so important to be completely retired? I have been "location independent" for 11 years, work 3-4 hours a day and make a few thousand dollars a month

Post: #33

How long is a piece of string?

So many factors here... will you be working? How long do you want to live for? Do you want to sustain the capital and live off it or are you happy to die with nothing and just need to make it 20 years?

The way I look at it, 5% would be a good return on investment, talking safe and sustainable with the capital generally protected. Savings in a bank are doing well to make half that currently and anything more than that you're starting to either put restrictions on access to the capital or risking the capital entirely to get so I take the conservative 5% return. Based on that if you need 25k p.a., which would be a pretty slummy life anywhere, then that's 500k required.

My personal aim is to have somewhere in the 1.5m-2m range but this is obviously with the intention of not working and, sustaining/growing the capital base over the next 50+ years.

Post: #34

I disagree with planning life with a thought towards what will happen when we are 70. The way I see it, if you're 35, you have about 35 years left, so plan life according to "What do I want to spend the next 35 years on?" And whatever that is, front-load it, because every year after the first involves less and less vitality. If you understand Spanish, this is a song that really captures certain aspects of this. I added the lyrics in English below, but English doesn't capture the essence of it, and the lyrics are partial, with errors. It does give a general idea though.





English Lyrics (partial):

I place the sun behind my shoulders and the world turns yellow
I like to walk, but I don't follow a road because what is certain lacks mystery
I like to go far away during the summer, and come back to my mother's during the winter
And to see the dogs that never forgot about me, and the horses, and my brother's hugs
I like it, I like it, I like it

I like the sun, Alicia, and doves
A good cigar, a spanish guitar
Jumping walls, and opening windows
And when a woman cries

I like wine as much as flowers
And rabbits, but not tractors
Homemade bread and Dolores' voice
And the sea wetting my feet

I'm not from here, I'm not from there
I have no age, nor future
And being happy is my color of identity.

I like to always be lying on the sand
Or chasing Manuela on a bicycle
Or all the time to see the stars with Maria in the hayfield

I'm not from here, I'm not from there
I have no age, nor future
And being happy is my color of identity