Geo arbitrage is a unique thing. It is moving from a high cost of living area to a lower cost of living area. Often, we are in High Cost of Living (HCOL) areas that can stop some of our saving ability. If you are not making a high enough salary, it can cost you a lot to live in an HCOL.
Moving to a low cost of living area (LCOL) is one of the most incredible hacks out there. People that are getting close to retiring do it all the time. They may buy a property in Belize or even move to Portugal to take advantage of the excellent and cheap living. Mexico is another great place to move to lower that cost of living.
Living abroad can be a great experience to learn, save, and adventure. It may be something you may want to look at. Make sure that the place you choose fits what you want.
Income is a huge thing you need to consider. If you are retired, you will need to know if your current income can help you maintain a lifestyle you would like to live. Having the necessary amount of money to maintain a particular lifestyle can help in your transition.
We want to move from an HCOL to an LCOL area. It is that easy. So it would be best if you looked at the cost of living in a specific area. Break down your living expenses by housing, food, healthcare, education, and even transportation.
LifestyleLifestyle is a great thing when you are looking for a place to move to. However, if you are working in a constantly stressful place and your life is deteriorating due to the poor lifestyle, then it is time to move again.
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