Early Retirement for Expats
Early Retirement for Expats
According to CNN Money, USA Today, the Department of Labor and the U.S. Census Bureau, the cost of living in the United States is around $60,000 per year for a family of four with two working adults. However, the median salary for those individuals is actually only around $52,000 per year, or $26,000 per adult, after taxes. Finding a way to retire early when you are spending $8,000 more than what your actual salary covers is an impossibility. Instead, most Americans are living on borrowed money, putting themselves deeper and deeper in debt each year.
By the time most U.S. citizens are 30 years of age they are around $300,000 dollars in debt. The average cost of a house is $225,000. A car is around $30,000. Credit card debt and school loans are around $50,000 at a minimum. What this leads to is a cycle of never-ending debt where the average person can never achieve an early retirement because they will need to work the next 40 or 50 years of their life in order to eventually pay everything off by the time they are in their mid to late 60s.
This is why more and more people each year are choosing to leave the U.S. behind in favor of modern countries like Chile, Brazil, Bulgaria, Italy, Mexico, Argentina and beyond. There, they can live as expats in countries where the cost of living for a family of four is between $15,000 and $20,000 per year, less than half of what they were paying back home. And because they can retain their salary of $52,000 a year, that family can then put away a minimum of $25,000 per year straight into the savings towards an early retirement.
retire early
The cost of a brand new home in a modern subdivision in Uruguay is a mere $50,000. A 10 year old home in Mexico averages around $30,000. These prices are roughly $200,000 less than the cost of a home back in the United States, which is why so many expats are moving abroad to achieve their dreams of an early retirement. When you can put away $25,000 to $30,000 per year on an average salary while living as an expat in another country you can very easily save up enough cash in two to three years to retire completely…long before you are in your twilight years facing the long decline into senility.
According to CNN Money, USA Today, the Department of Labor and the U.S. Census Bureau, the cost of living in the United States is around $60,000 per year for a family of four with two working adults. However, the median salary for those individuals is actually only around $52,000 per year, or $26,000 per adult, after taxes. Finding a way to retire early when you are spending $8,000 more than what your actual salary covers is an impossibility. Instead, most Americans are living on borrowed money, putting themselves deeper and deeper in debt each year.
By the time most U.S. citizens are 30 years of age they are around $300,000 dollars in debt. The average cost of a house is $225,000. A car is around $30,000. Credit card debt and school loans are around $50,000 at a minimum. What this leads to is a cycle of never-ending debt where the average person can never achieve an early retirement because they will need to work the next 40 or 50 years of their life in order to eventually pay everything off by the time they are in their mid to late 60s.
This is why more and more people each year are choosing to leave the U.S. behind in favor of modern countries like Chile, Brazil, Bulgaria, Italy, Mexico, Argentina and beyond. There, they can live as expats in countries where the cost of living for a family of four is between $15,000 and $20,000 per year, less than half of what they were paying back home. And because they can retain their salary of $52,000 a year, that family can then put away a minimum of $25,000 per year straight into the savings towards an early retirement.
retire early
The cost of a brand new home in a modern subdivision in Uruguay is a mere $50,000. A 10 year old home in Mexico averages around $30,000. These prices are roughly $200,000 less than the cost of a home back in the United States, which is why so many expats are moving abroad to achieve their dreams of an early retirement. When you can put away $25,000 to $30,000 per year on an average salary while living as an expat in another country you can very easily save up enough cash in two to three years to retire completely…long before you are in your twilight years facing the long decline into senility.