Retiring early... Geographic arbitrage

[Vil_Riker]

Just came back from the exploratory trip from the number 1 candidate for geographic arbitrage. The wife is now more eager than me to retire early - she didn't want to come back actually. I did an unplanned test of the healthcare system and got free ED service. I had to insist for the hospital to come up with a paid service so that I don't mooch off the system. So the adventure cost me $25 for two ED visits - it would be around a $3k per visit in the US.

Still need to increase the monthly passive income so we are now going into a deep savings mode for the next year to build up the dividend portfolio.

 

[Pablo]

Is there a reason not to disclose location?

 

[Vil_Riker]

Is there a reason not to disclose location?

It's Cyprus and Armenia.

East Asia wasn't for us - too messy, too hot, too many visa issues. Southern Europe is a more suitable place.

 

[Pablo]

Is she from the area?

Language?

Taxes?

 

[Pablo]

Medicare wouldn’t be $3k per visit unless cosmetic

 

[Vil_Riker]

Medicare wouldn’t be $3k per visit unless cosmetic

I have a high deductible plan with UHC - Medicare would have been 20% coinsurance.

 

[Vil_Riker]

Is she from the area?

Language?

Taxes?

She is American so no ties to the area.

We plan to not be tax residents of these two countries - will be there less than 6 months per country per year. Will still pay the US taxes of course.

 

[Pablo]

She is American so no ties to the area.

We plan to not be tax residents of these two countries - will be there less than 6 months per country per year. Will still pay the US taxes of course.

Good plan! Enough English spoken or ???

PS The good part is you are not moving lock, stock, barrel. Stay nimble.

 

[duck__dodgers]

something to consider for anyone planning on being outside the USA for a long time---emergency health repatriation insurance, insurance for if you have a health issue and for whatever reason you want to be in the US for treatment/rehabilitation. Medical evac ain't cheap.

I have no first-hand experience with it other than it's a thing; and being a hypocrite I never bought any for our long vacations even though the price was reasonable., lol.

 

[Vil_Riker]

something to consider for anyone planning on being outside the USA for a long time---emergency health repatriation insurance, insurance for if you have a health issue and for whatever reason you want to be in the US for treatment/rehabilitation. Medical evac ain't cheap.

I have no first-hand experience with it other than it's a thing; and being a hypocrite I never bought any for our long vacations even though the price was reasonable., lol.

We definitely have extravagant palaces for healthcare facilities, the ED I went to invested more in staff. The care was quicker and less elaborate as they didn't insist on extra services like imaging or lab tests to jack up the cost but didn't skimp on necessary care either. The doc insisted on follow up care with him in the ED instead of sending me to a primary care clinic instead.

But, the ED room was shared with another bed that had a very scared little girl (together with very anxious parents) with a broken leg waiting for the xray results. So not much privacy but as a patient that's the last thing you care about.

 

[Vil_Riker]

Good plan! Enough English spoken or ???

PS The good part is you are not moving lock, stock, barrel. Stay nimble.

English is widely spoken in both countries.

When we landed in Armenia, we struck up conversations with foreigners while waiting for the bags. All were moving to Armenia. Took a taxi and the driver had immigrated to Armenia 2 years ago.

It's just crazy how mobile the world is.

 

[Pablo]

English is widely spoken in both countries.

When we landed in Armenia, we struck up conversations with foreigners while waiting for the bags. All were moving to Armenia. Took a taxi and the driver had immigrated to Armenia 2 years ago.

It's just crazy how mobile the world is.

So what is the draw? Why the attraction?

 

[Vil_Riker]

Everyone has their own but it boils down to a fulfilling life. The cost of living is reasonable, the people and the country are genuinely hospitable. The digital infrastructure is developed so there are tons of digital nomads.

 

[awguy]

ED— erectile dysfunction ?

 

[IndyIan]

Everyone has their own but it boils down to a fulfilling life. The cost of living is reasonable, the people and the country are genuinely hospitable. The digital infrastructure is developed so there are tons of digital nomads.

Armenia sounds interesting! How is the geopolitical situation there? It is interesting how some of these "new" nations reformed after the soviet union collapsed are doing pretty good.

 

[Pablo]

ED— erectile dysfunction ?

Early Dementia (wait, what??)

 

[ammolab]

Early Dementia (wait, what??)

ED— erectile dysfunction ?

“Emergency Department” perhaps

 

[50yr Street Mech]

I retired @ 55 in 2022. My wife retires @ 60 in June of 2035. I have my pension & IRA. She'll have 2 pensions & a 403B. Stuck in New York till 2035. Then we're heading to northern Nevada. No inheritance tax for our daughter, no state IRA, 403B, or pension taxes. Currently, in NY, inheritance tax is 40%. Ridiculous. Cost of living is cheaper, climate is temperate ( maybe an inch or two of snow a year). No humidity ( west of the Gulf of Mexico ) 4 mild seasons. Getting the smallest ranch possible ( with a garage for me LOL ), on the smallest piece of property we can find. Forgot the name of the Town, have it written down,, but it is retirement friendly...Medical institutions are not far away... Not too far from Carson City. Just need an extra bedroom when our daughter visits. So, a 2 bedroom ranch. No steps. When we croak, our daughter gets everything tax free, except for what the gov't gets. Right now, New York is taxed 2% higher than California. We have no business being in this state after 2035. Our daughter will get shafted. She's our priority.