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Hate the US need to move, $125k, where to?

Hate the US need to move, $125k, where to?

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Old Jan 28th 2009, 7:01 pm
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Default Hate the US need to move, $125k, where to?

I'm 27 years old guy, a nurse, and very sick of living in the US. I have $125,000 USD which I received from a will. I'm looking for the poorest (yet stable/safe?) counties where that money would sustain me for the rest of my life in that country. I'm completely fluent in english, spanish, and french. I'd be willing to work as a nurse if I needed to.

I just don't like the idea that in the USA you work like a dog to live like one. I don't want to spend my whole life working nonstop and not being able to retire in comfort. The "american dream" is a complete illusion unless you're the top 2% in this country.

I know that in Latin america I could find a beautiful apartment for $200-400 a month. Why should I continue living in the US?
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Old Jan 28th 2009, 7:22 pm
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Default Re: Hate the US need to move, $125k, where to?

Where were you born? What citizenship(s) do you hold?

It is going to be very hard to retire anywhere aged 27 on $125,000. Inflation alone will eat that away. If you live in a country with low wages, you yourself would make low wages if you worked to supplement your income.

Anyway - since you speak fluent Spanish, ask some recent immigrants from Mexico, Central, and South America why they left, and where they would live if money were no object. How native do you want to go? Living with other expats, or as the only expat in the village?
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Old Jan 28th 2009, 7:30 pm
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Default Re: Hate the US need to move, $125k, where to?

I was born in the US and I'm a citizen here. I don't need to live with other expats, I think I'd be fine enough on my own. From what I've been reading, expat communities, or expats who don't speak the local language fluently, pay expat prices. I want to pay what real people pay for apartments. I've found beautiful apartments in Asuncion, Paraguay for example ~$250-325/month. That's a deal and much better than the $1300/month I'm paying in Boston.

Is my assumption that where the average yearly salary is 1/10 what I make in the US translates to 1/10 (roughly) cheaper living? When I was in Paraguay I remember eating at the great restaurants for $2-4. Bus rides were 50 cents. I guess as a 8 month visitor to this country it appeared VERY cheap as a US citizen.
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Old Jan 28th 2009, 7:39 pm
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Default Re: Hate the US need to move, $125k, where to?

If you never intend to work again, $125K is no where near enough to keep you going for the rest of your life. Even if your only expenses were rent for say $400/month, $125K would keep you going for 35 years, or until you're 62.

That assumes NO other expenses and NO rent increases for 35 years... good luck with that.
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Old Jan 28th 2009, 7:46 pm
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Default Re: Hate the US need to move, $125k, where to?

Originally Posted by theusucks View Post
I'm 27 years old guy, a nurse, and very sick of living in the US. I have $125,000 USD which I received from a will. I'm looking for the poorest (yet stable/safe?) counties where that money would sustain me for the rest of my life in that country. I'm completely fluent in english, spanish, and french. I'd be willing to work as a nurse if I needed to.

I just don't like the idea that in the USA you work like a dog to live like one. I don't want to spend my whole life working nonstop and not being able to retire in comfort. The "american dream" is a complete illusion unless you're the top 2% in this country.

I know that in Latin america I could find a beautiful apartment for $200-400 a month. Why should I continue living in the US?
Why don't you do something smart with the 125k and become one of the 2% instead of slowly pissing it away? I'm not saying you shouldn't leave, really I'm not, just that you might get more mileage out of your windfall if you spent it on investments instead of rent and beer.
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Old Jan 28th 2009, 8:05 pm
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Default Re: Hate the US need to move, $125k, where to?

I don't think $125 is enough wherever you go.

But being as you've got a medical background and can speak all those languages, what I'd be looking to do if I were you (I assume you are single) would be to try and get myself a big fat paying UN/IMF/WHO etc etc etc type contractor type job in Africa/South America somewhere - you'll soon be able to make loads of money and get experience of living in less well off countries and see what you think....

Last edited by Dan725; Jan 28th 2009 at 8:10 pm.
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Old Jan 28th 2009, 8:38 pm
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Default Re: Hate the US need to move, $125k, where to?

Originally Posted by theusucks View Post
I was born in the US and I'm a citizen here.
Then you have no automatic right to take up residence in another country. You'd have to research the residency/immigration laws for each country you would consider as a home. The right to *reside* in a country may not equal the right to *work* in that country. So if you were a pruny 80 year old off for the great siesta in the sun, residency rights may be enough. But at your age?

I don't know if you realise how difficult it is to legally migrate to the US.... even if you have $500k in your pockets. It can be equally or more difficult to migrate *from* the US. While the world economy is global, the right to live and work in any given country is certainly not!
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Old Jan 28th 2009, 9:35 pm
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Default Re: Hate the US need to move, $125k, where to?

Originally Posted by theusucks View Post
I'm 27 years old guy, a nurse, and very sick of living in the US. I have $125,000 USD which I received from a will. I'm looking for the poorest (yet stable/safe?) counties where that money would sustain me for the rest of my life in that country. I'm completely fluent in english, spanish, and french. I'd be willing to work as a nurse if I needed to.

I just don't like the idea that in the USA you work like a dog to live like one. I don't want to spend my whole life working nonstop and not being able to retire in comfort. The "american dream" is a complete illusion unless you're the top 2% in this country.

I know that in Latin america I could find a beautiful apartment for $200-400 a month. Why should I continue living in the US?
Go for it, usucks.

For starters, if I had your qualifications and languages I would try the Yucatan, Mexico.
A fabulous area, great people and with your background, very likely decent employment opportunities - hospitals, clinics and even hotels.

Don't be put off by the doomsayers: not enough money, it's not easy to get work etc, etc,

At your age, if you've no responsibilities, the world's your oyster; enjoy it.

Good luck and good hunting.
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Old Jan 29th 2009, 12:48 pm
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Default Re: Hate the US need to move, $125k, where to?

Depending on the country, and their rules around foreign investors, you might be able to take that $125K and do something like buy real estate for rental income.

That way, your $125K isn't just slowly drained from the bank account.

Good luck.
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Old Jan 29th 2009, 5:17 pm
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Default Re: Hate the US need to move, $125k, where to?

Originally Posted by Foxy_fromCanada View Post
Depending on the country, and their rules around foreign investors, you might be able to take that $125K and do something like buy real estate for rental income.

That way, your $125K isn't just slowly drained from the bank account.
No, it's rapidly drained, and in "Latin" America, such an investment could prove risky, even if we were not in a global downturn. In addition, some countries prohibit non-citizens from owning property. This is why I say investigate the possibility of living and working in a particular country before you even dream of moving there.
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Old Jan 29th 2009, 5:22 pm
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Default Re: Hate the US need to move, $125k, where to?

Originally Posted by snowbunny View Post
No, it's rapidly drained, and in "Latin" America, such an investment could prove risky, even if we were not in a global downturn. In addition, some countries prohibit non-citizens from owning property. This is why I say investigate the possibility of living and working in a particular country before you even dream of moving there.
I agree - buying property in an actual (or just above) a third world country can be a veritable nightmare -big risk and not something you'd want to rush into in any case. Heck, it doesn't even have to be a third world country, just look at the amount of horror stories you hear about people in places like Spain and Cyprus falling foul of bad deals and local laws....
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Old Jan 29th 2009, 7:08 pm
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Default Re: Hate the US need to move, $125k, where to?

Ah, interesting. Things are easier for us here in Barbados, then (relatively speaking).
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Old Jan 29th 2009, 11:10 pm
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Default Re: Hate the US need to move, $125k, where to?

Originally Posted by snowbunny View Post
No, it's rapidly drained, and in "Latin" America, such an investment could prove risky, even if we were not in a global downturn. In addition, some countries prohibit non-citizens from owning property. This is why I say investigate the possibility of living and working in a particular country before you even dream of moving there.
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Old Jan 29th 2009, 11:28 pm
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Default Re: Hate the US need to move, $125k, where to?

Ignore the naysayers - they're all old and scared, worrying about their pensions and their gallbladders - take the $125K windfall and head south with your backpack for 6 months, find whichever place you decide you'd like to live in, check out the residency rules, find a locals-priced pad with 3/4 of the cash and use the rest to live on for a while.

Something will come along afterwards, either a job or other opportunities. Even if you end up heading back to the US in a few years time, you have had some adventure and still have pad to play with.
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Old Jan 29th 2009, 11:35 pm
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Default Re: Hate the US need to move, $125k, where to?

Originally Posted by Cape Blue View Post
Ignore the naysayers - they're all old and scared, worrying about their pensions and their gallbladders - take the $125K windfall and head south with your backpack for 6 months, find whichever place you decide you'd like to live in, check out the residency rules, find a locals-priced pad with 3/4 of the cash and use the rest to live on for a while.

Something will come along afterwards, either a job or other opportunities. Even if you end up heading back to the US in a few years time, you have had some adventure and still have pad to play with.
Nothing nay saying about it...in his position I'd do exactly the same regarding getting my backpack on, as I've said. Except, I wouldn't piss my money away on a piece of property that I can't sell or rent when it comes time to move on.
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