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September 11, 2017

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If only you had a choice of where all your friends and family live ;)

i see many american retirees living in thailand. one guy i know, he is in his late 30 and retired from the us army. he told me he spent around 1k usd a month in a beach town in thailand. low cost of living, great weather and no more jury duty he told me.

Depending upon your skillset and work attitudes, my feeling is where you live can also have a major effect on your income trajectory. I was born and raised in a rust belt town where cost of living is very low (median house costs five figures), but there they simply offer no jobs and associated income like the one I grew into in silicon valley.

I think the key is to understand the inflated living costs and to adjust expenses accordingly. A six figure income in a high cost of living area could be like minimum wage elsewhere so spending needs to scale down. I've found it's possible to keep costs low in the expensive places mainly by shopping my rent down. Living small, sharing, or taking a longer commute are viable options. These days street living (in an RV) is getting more popular. Put the savings into the stock market.

True you lose the chance to build home equity but I never planned to retire there, and after a couple of decades of work I downshifted to a somewhat lower cost area of coastal California. I kept my job though, now work remotely so I can live anywhere that has high speed internet. I'm not about to go back to my old hometown though, I've grown accustomed to a warm and dry climate.

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