More thoughts about living overseas after college.

This is a continuation of yesterday's post, about living overseas.  I found an interesting New York Times article that talks about a few people's experiences retiring overseas.  The article is pretty recent, so I thought I would share it:

New York Times - Cheap and Colorful, an Overseas Home Beckons.

"Ask yourself how local you want to go, she said. The more you live like the local people — speaking their language, buying food at their markets, living in their typical housing — the cheaper your retirement can be, she said. By going this route, “you can retire to another country on a budget of $700 a month,” she said. It would be a very modest lifestyle, “but it could also be the adventure of your lifetime,” she added."

In the future, I may talk about more areas to retire to.  A list of good places includes:

Thailand: Chaing Mai, Phuket, Ko Samui, Bangkok,
Panama: Bocas del Toro, Boquete, El Valle de Anton,
Certain areas of South America,
Malaysia, India (Goa, Kerala to name a couple).
 

Boquete, Panama

There are some good places in Mexico that should be considered, and Belize, as mentioned in the article.  Of course, these are all tropical destinations and that should be considered.  One will have to get used to heat, certain insects, possibly rainy seasons, monsoons, poor infrastructure in some areas, and a different culture.  Other than a cheaper cost of living (which should not be your sole reason for relocating), one should consider the positive aspects of relocating.  For example, the chance to immerse yourself in a new culture, the adventure of a lifetime, learning new languages (which may result in marketability if you come back to the United States).  For example, some Asian languages are in demand in the United States - this could help one with law.

Also, one could consider trying to find a position in a US based non-profit that does work in a cheaper country.  It may be possible to get one's loans discharged through the public interest loan forgiveness program.  This may be worth looking into.

"For people like the Justices, the financial complications of living abroad are worth it for the experiences they have had. Now back briefly in the United States, they are planning to return to Vietnam, perhaps to stay in Hanoi, where they have already lived for six months.

They have fond memories of Nha Trang, where “it was cheaper (and more fun) to eat out than it was to cook for ourselves, even with the low, low price of fresh market food,” Ms. Justice said in an e-mail. “We spent our days relaxing at the beach, socializing with our friends in the cafes, taking leisurely drives through the pretty countryside and taking private lessons in Vietnamese” — at a cost of $5 for a two-hour session."  

Recently, International Living ran an article called: The Cheapest Places to Retire.


This article mentions a few places where one can get by on a budget from $700 to $1,400 a month.   
 

"[In Vilcabamba, Ecuador] many residents live to be 100 years old or more. That may be thanks to clean water, clean, stress-free living, or the near-perfect climate. Just shy of the equator and at an elevation of 5,000 feet, temperatures average between 65 and 81 F, day in and day out. Estimates put the number of permanent foreign residents at about 150 and part-timers at perhaps another 100.

Although it takes some doing to get to Vilcabamba, it’s a small price to pay. Literally. Vilcabamba is among the lowest-priced retirement havens in the world. John Curran and his partner, Sue, own their home (so no rent paid) and say they live comfortably on a budget of less than $600 a month, although they admit that costs have risen in the last five years as Vilcabamba has gained popularity.

John pays less than $1.25 a month for gas for cooking and hot water. His monthly water bill is just $1.70 and electricity adds another $30 to the monthly utility bill. Thanks to the temperate climate, there’s no need for heat or air conditioning. Gasoline in Ecuador costs less than $1.50 a gallon."

Another article mentions Playa Del Carmen, Mexico:

"With a $300/month studio apartment (that is four blocks from white sand beaches and two blocks from the center of town I might add), one would be hard-pressed to spend more than a $1000 per month in total to live here. In fact, one could very easily live a good life here for closer to $700 per month."

Bocas Del Toro, Panama

Having been here, I will say that Playa Del Carmen is a great place to visit, close to the island of Cozumel, Cancun, and the resort cities in the Yucatan.  Would I live here?  Definitely.  I do suspect that this location is probably more expensive than others, but public transportation is plentiful around the region, the bus system in the Yucatan is actually quite nice and express service is just as reliable as in the Northeast United States.  Playa Del Carmen is a big tourist destination popular with the European crowd.  There are miles of gorgeous beaches with warm water that is just waiting for you! 

The author of the above article also mentions Australia, which may be more desirable for some individuals:

"Australia – Yes, Australia. At the end of 2008 I spent five months living in Melbourne and it was an absolute bargain. Using the excellent Gumtree.com I found a room in a shared house, located only a 15 minute walk from the center of the city, for a mere $400 USD per month. And even with frequent pub visits, live music shows, festivals, day trips and a shocking number of meals at my favorite Indian and Vietnamese restaurants, I managed to keep my expenses under $1000 every month quite easily."

This just goes to show that there are places out there, some of which are amazing and beautiful places, that are only now starting to be discovered.  If you are interested in a change of life, or starting fresh -- and I know many people do talk about it -- you may want to consider what the rest of the world has to offer.  You can still keep your US Citizenship, come back and visit family from time to time, and live quite cheaper, somewhere else.  Chances are that you can find something to do in order to make money. 

Interested in making money while traveling? Interested in Thailand? Click Here!