Retiring early... Geographic arbitrage

The last thing you want to do is retire without enough money....
Granted...nobody knows what is "enough".

Point is, don't work most of your life and then cut yourself short right at the end.
I've seen a lot of good men leave a year or two early and hurt themselves financially.

I think it was Charlie Munger who said..... and I'll clean it up..... do whatever it takes to get 100k saved up.
Unfortunately , it's more like 300k now....but then it starts to take off.
 
KJSmith said:
The last thing you want to do is retire without enough money....
Granted...nobody knows what is "enough".

Point is, don't work most of your life and then cut yourself short right at the end.
I've seen a lot of good men leave a year or two early and hurt themselves financially.

I think it was Charlie Munger who said..... and I'll clean it up..... do whatever it takes to get 100k saved up.
Unfortunately , it's more like 300k now....but then it starts to take off.
Click to expand...
I've heard the same from him. Very important to get that first $100k together and then it snowballs.
 
Vil_Riker said:
Sorry to hear that. It's tough to not have any generational wealth or safety net to rely on ...

Did your mom and sister make it?
Click to expand...
They did but my mom died 6 months after arrival. I was devastated. Before she came, after so many years of lonely, nightly tears going to sleep, I dreamed of re-living my childhood dream when I see her again; being held and hugs, but it was gone in a flash. Lost and despaired for several years with no direction or purpose, I enlisted in the NAVY. Before boot camp, I met my wife. Despair subsided and I started a new life..........Long story short, I live the American dream, from rag to middle class or riches (depending on who decides)?
It is not the true American dream (rag to riches) but will provide my children with "generational wealth or safety net to rely on."

My point here is, I went from a lonely refugee with nothing, $0, to have enough to retire comfortably (not by choice). I rather work until 591/2 but it is my current situation. Finding a well paying job at my age will not happen (pass prime working age). This is what I meant by "I am not going to work as a greeter or HD." I have enough $ so I won't do that.

My American Dream - simple
- Be a millionaire by 55
- Mary a blonde

Steps to fulfill the dream
-Mary my dream girl
-Set the goal to get what you want and never give up: college (failed-cannot go to college without financial support for living), Navy (failed), college again, engineer > more $ so Master degree, more $ so find a better paying job.
-Max out 401k - 25 years of maxed out mine. I had to cash out my first two years for a mortgage, had to. I was too conservative the first 12 yrs. After 2012, more aggressive on growth funds and it pays.
-Pay only what you can afford, don't pay interests unless it is a mortgage. Even then, payoff asap. I am not good at investing so...
-Fix everything yourself. My motto: If they made it, I can fix it, until I can't.
-Be Contents of who you are - avoid all bad habits, alcohol, smokes, pets (cost more than kids so bad habit), etc.
-I came from nothing so I only spend on what I need mentality so this is my life style from the beginning. It doesn't mean that I don't spend on what I want because I can now.
Wow, I am writing too much already. I better stop here.
 
I really appreciate this post. As a 48 year old, I have been thinking similarly about retiring early, though I’m leaning towards 59.5. My reasons are just like yours. I’d like to live to see our country and other parts of the world while I still can. Both my grandfathers died of cancer, one in his late 60’s and another in his early 80’s. They were miserable years.

My financial advisor thinks it can be done, but isn’t supportive.

I’ll be staying in the US. I really appreciate your question and enjoyed reading the replies.
 
Tundragod said:
They did but my mom died 6 months after arrival. I was devastated. Before she came, after so many years of lonely, nightly tears going to sleep, I dreamed of re-living my childhood dream when I see her again; being held and hugs, but it was gone in a flash. Lost and despaired for several years with no direction or purpose, I enlisted in the NAVY. Before boot camp, I met my wife. Despair subsided and I started a new life..........Long story short, I live the American dream, from rag to middle class or riches (depending on who decides)?
It is not the true American dream (rag to riches) but will provide my children with "generational wealth or safety net to rely on."

My point here is, I went from a lonely refugee with nothing, $0, to have enough to retire comfortably (not by choice). I rather work until 591/2 but it is my current situation. Finding a well paying job at my age will not happen (pass prime working age). This is what I meant by "I am not going to work as a greeter or HD." I have enough $ so I won't do that.

My American Dream - simple
- Be a millionaire by 55
- Mary a blonde

Steps to fulfill the dream
-Mary my dream girl
-Set the goal to get what you want and never give up: college (failed-cannot go to college without financial support for living), Navy (failed), college again, engineer > more $ so Master degree, more $ so find a better paying job.
-Max out 401k - 25 years of maxed out mine. I had to cash out my first two years for a mortgage, had to. I was too conservative the first 12 yrs. After 2012, more aggressive on growth funds and it pays.
-Pay only what you can afford, don't pay interests unless it is a mortgage. Even then, payoff asap. I am not good at investing so...
-Fix everything yourself. My motto: If they made it, I can fix it, until I can't.
-Be Contents of who you are - avoid all bad habits, alcohol, smokes, pets (cost more than kids so bad habit), etc.
-I came from nothing so I only spend on what I need mentality so this is my life style from the beginning. It doesn't mean that I don't spend on what I want because I can now.
Wow, I am writing too much already. I better stop here.
Click to expand...
Wow, what a story!

I'm glad you were able to succeed. In this type of a situation, you work three times as hard. Sometimes it works, sometimes it doesn't.
 
svtrit said:
I really appreciate this post. As a 48 year old, I have been thinking similarly about retiring early, though I’m leaning towards 59.5. My reasons are just like yours. I’d like to live to see our country and other parts of the world while I still can. Both my grandfathers died of cancer, one in his late 60’s and another in his early 80’s. They were miserable years.

My financial advisor thinks it can be done, but isn’t supportive.

I’ll be staying in the US. I really appreciate your question and enjoyed reading the replies.
Click to expand...

It can be done, you and your wife need a strict budget and investment plan.
Pay down debt and circle the wagons.

I talk to lots of people about retirement and they are not very serious about it.
They will worry about it when they ‘cross that bridge’.
 
Tundragod said:
They did but my mom died 6 months after arrival. I was devastated. Before she came, after so many years of lonely, nightly tears going to sleep, I dreamed of re-living my childhood dream when I see her again; being held and hugs, but it was gone in a flash. Lost and despaired for several years with no direction or purpose, I enlisted in the NAVY. Before boot camp, I met my wife. Despair subsided and I started a new life..........Long story short, I live the American dream, from rag to middle class or riches (depending on who decides)?
It is not the true American dream (rag to riches) but will provide my children with "generational wealth or safety net to rely on."

My point here is, I went from a lonely refugee with nothing, $0, to have enough to retire comfortably (not by choice). I rather work until 591/2 but it is my current situation. Finding a well paying job at my age will not happen (pass prime working age). This is what I meant by "I am not going to work as a greeter or HD." I have enough $ so I won't do that.

My American Dream - simple
- Be a millionaire by 55
- Mary a blonde

Steps to fulfill the dream
-Mary my dream girl
-Set the goal to get what you want and never give up: college (failed-cannot go to college without financial support for living), Navy (failed), college again, engineer > more $ so Master degree, more $ so find a better paying job.
-Max out 401k - 25 years of maxed out mine. I had to cash out my first two years for a mortgage, had to. I was too conservative the first 12 yrs. After 2012, more aggressive on growth funds and it pays.
-Pay only what you can afford, don't pay interests unless it is a mortgage. Even then, payoff asap. I am not good at investing so...
-Fix everything yourself. My motto: If they made it, I can fix it, until I can't.
-Be Contents of who you are - avoid all bad habits, alcohol, smokes, pets (cost more than kids so bad habit), etc.
-I came from nothing so I only spend on what I need mentality so this is my life style from the beginning. It doesn't mean that I don't spend on what I want because I can now.
Wow, I am writing too much already. I better stop here.
Click to expand...
Don`t usually read long posts but I read yours, thanks
 
Vil_Riker said:
Wow, what a story!

I'm glad you were able to succeed. In this type of a situation, you work three times as hard. Sometimes it works, sometimes it doesn't.
Click to expand...
You are right on; more like 10x You need support in life, plus many other combination of lucks/tenacity, to succeed. My wife was my anchor and support.
 
10x is a nice number--but personally I hope to hit 15x. No one knows if the SS payout will drop in the near future--so I'm trying to accommodate that by overshooting what I have outside of SS. Furthermore, it looks like I hit a SS bend point and would only get 33% (not the oft stated 40%); I reduce that to 25% due to those impending (possible) cuts. That means I need like 55% of my income to come from non-SS sources; 0.55*25 is 13.75x my salary saved. Ergo 15x is my target. YMMV.
 
I will chime in because I just retired.

Reading some of these posts lead me to think that some of the people that are looking to retire do not have social security benefits or any type of pension plans.

If you don't have social security insurance benefit or retirement pension plan then it probably won't matter where you retire.

I will say this if you retire in another country and denounce your citizenship your benefits will be severed.

If you do stay a citizen you have to come back to the US every 6 months for 30 days to claim your residency.

And let's not forget money transfer to a European Asian Bank there is usually a significant charge for that.

Just saying all this because that's something to look into before moving abroad, we do have pretty serious regulations here.

some countries don't accept foreigners meaning from the USA.

You either need to be married to somebody there or denounce your citizenship and become a national of that country.

Think about it hard because you can't come back with any pot to urinate in!

But of course you could come back illegally!


If I was on a very very tight income which I am, but I am fortunate enough to have purchased a house 25 years ago and worked my arse off to pay it down, I would buy a small well-kept trailer/ mobile home. And live within my means! As a citizen in the US getting Social Security you can make a significant amount of money part-time working. And once you reach the age of 70 you can make as much as you want to and not be taxed on that income at all.

And if you are thinking of cashing out your 401ks remember you will still have a tax on that entire lump sum you take out. That's why a lot of people that invest in 401s or some type of tax deferred program throughout their working career take increments of withdrawals through their retired life to minimize the tax hit! Remember no free ride, pay now or pay later!

Not here to offend anyone just my two cents do your homework before you think about leaving the good old US of A.
 
Last edited:
zzyzzx said:
What's the point in retiring unless you can do it in Caligulan splendor?
Click to expand...
I take a different view. Retirement can be lived in splendor, but wife gets tired of the constant line of young ladies.

So I view retirement as if I am a kid again, during summer recess. Not a care in the world, Plus this time I have some $!!!

hahahahahaaaha

Stay healthy my friends.
 
Check out Costa Rica, mountains and Pacific side are great for nice weather and relatively cheap if you like beans and rice. There must be some fairly restrictive rules on full time residency, but living there in the off tourist season, and back to the US to maintain benefits might work?
Balkans near the coast must have temperate weather all year?
What do you like to do for outside cheap entertainment stuff? Go to where you can do that, or try some hiking, bike touring, kayaking? I plan to do lots of stuff like that when retired as I'm not on track to do too many $5+k/week expensive vacation stuff without selling land we want the kids to have, so the plan is to be able to do this cheaper stuff until ~ mid 70's? But who knows.
 
One option maybe worth looking into is there are some countries in Europe with declining populations that are giving away abandoned properties in small villages. I have seen some of these on youtube and there often basically a 200 year old stone home with no roof - so your really starting from scratch, but if your handy and are looking for a change - it might be an option.

https://dispatcheseurope.com/expat-...ng-people-back-to-europes-abandoned-villages/
 
Only problem I see retiring overseas is that many people don’t like Americans and they know you have money so you’re always a target.
 
Dave Hess said:
Only problem I see retiring overseas is that many people don’t like Americans and they know you have money so you’re always a target.
Click to expand...

SC Maintenance said:
In touristy areas and retirement villages - definitely yes. But if you learn the language and live with the locals I would say its not always true.
Click to expand...
In Italy we did not encounter any difficulties, we lived - well too short of a stay 3 weeks - in a small town, in what we would call a town home I guess, inside a walled yard. No problems at all. Even asking in broken Italian for an odd item at any given store, always friendly, always a chuckle.

The TINY road in front with an ancient barely operable lock, just don't pop out too fast!
 
nickaluch said:
What has the government stolen from you
Click to expand...
2nd Amendment worthless in WA state. The ability to speak and write truly freely. The unequal application of justice

It's funny, still we are better than many countries, and most likely, and in fact, if I were to retire in Italy, I could not bring my guns and maybe I could only buy a shotgun there, if even that.
 
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