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Be expatriotic
384 sats \ 8 comments \ @expatriotic 16h alter_native
Original post
Disillusioned with the country you're in? Want to live somewhere else? Can't seem to save at a reasonable rate? In debt due to high cost of living? Ready to retire but worried you don't have enough money?
I would argue that a lot of these problems could be solved by moving to a different country.
Expatriate: one who leaves their country to work abroad. Often called "expats" for short.
Consider moving to a country with a lower cost of living. Bring your skills and talents. Earn a wage while working remotely. Or find a job abroad that values your labor more than back home, like being an international school teacher (that's what I do).
Instead of waiting until you're 65 to retire. Earn and save in a stronger currency, making a higher income in NYC, LA, Nashville, etc., then abscond to the beaches of Indonesia, Thailand, or Ecuador where your money stretches way further.
None of this needs to be permanent. Some people work domestically for 6 months and travel for 6 months. Or work for a year and travel for a year.
Speaking from experience as an international school teacher, the math works out pretty well. Competitive salary + lower living costs = serious saving potential, all while living a great life.
There are costs to leaving the country you know. Culture gaps. Language gaps. So you really need to assess your own situation.
I recommend reading the book "Vagabonding" by Rolf Potts. Listen to the "Radical Personal Finance" podcast by Joshua Sheats, who moved his family to Mexico.
Basically, you're not trapped. You're free. Go where you like, do what you like. But please, don't think you need to work til you're 65 at a job you hate just to finally live your dreams sipping martinis on a beach in Thailand or golfing/fishing all day.
You can do that right now.
The table should help you visualize the cost of living in various countries.
Table 1: Examples of countries relative purchasing power using the US as base 100.
RankCountry/RegionCost indexMonthly incomePurchasing power index
1Switzerland131.47,958 USD94.6
6Ireland110.66,644 USD93.9
9Australia107.05,070 USD74.1
15United States100.06,398 USD100.0
16United Kingdom98.54,103 USD65.1
18Sweden93.95,292 USD88.1
21Japan84.93,537 USD65.1
22France83.23,774 USD70.9
24Germany82.34,503 USD85.6
29Singapore72.15,600 USD121.3
31Portugal67.92,163 USD49.8
32United Arab Emirates67.24,097 USD95.3
39Chile58.31,280 USD34.3
40China57.61,071 USD29.1
44Brazil49.8678 USD21.3
45Ecuador49.7525 USD16.5
48El Salvador48.2393 USD12.7
49Honduras47.5229 USD7.5
63Colombia38.2542 USD22.2
67Philippines36.5329 USD14.1
75Thailand34.7603 USD27.2
77Indonesia33.1382 USD18.0
79Vietnam32.4334 USD16.1
Source: https://www.worlddata.info/cost-of-living.php
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0 sats \ 4 replies \ @Catcher 12h
So based on this data, the only place you would go from the US is Singapore?
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0 sats \ 3 replies \ @expatriotic OP 12h
How do you figure?
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0 sats \ 2 replies \ @Catcher 12h
only place with Purchasing Power Index higher than 100?
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0 sats \ 1 reply \ @expatriotic OP 12h
High number bad, low number good. Singapore is the only place worse than the US regarding purchasing power. Portugal is half of US, Honduras with 7.5 is crazy low...
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0 sats \ 0 replies \ @Catcher 11h
Ok, I understood it the other way around, here is the example from their website
"The example of Switzerland: With a cost of living index of 126 all goods are on average about 26% more expensive than in the USA. But the average income in Switzerland of 7,923 USD is also 18% higher, which means that citizens can also afford more goods. Now you calculate the 26% higher costs against the 18% higher income. In the result, people in Switzerland can afford about 6 percent less than a US citizen."
So it means that with PPI 94 if you come to Switzerland despite higher salary you will only afford 94% of your existing 100% in US. So it means, if you want to afford more you need to look for a 100+ PPI. Or what am I missing?
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0 sats \ 2 replies \ @Catcher 13h
Amazing data, is it possible to convert the table where the Purchasing power index is based on your current country instead of the US?
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0 sats \ 1 reply \ @Catcher 12h
Ok, looks like you can just divide 100 by the index of your country and then multiply everything by the result you get and you will get a spreadsheet adjusted to your country
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0 sats \ 0 replies \ @expatriotic OP 12h
Oh wow, that's cool! Yeah unfortunately the table is made to make US the pivot point. With countries having higher or lower cost index compared to the US
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