According to CNN Money, USA Today, the Department of Labor and the U.S. Census Bureau, the cost of living in the United States is around $60,000 per year for a family of four with two working adults. However, the median salary for those individuals is actually only around $52,000 per year, or $26,000 per adult, after taxes. Finding a way to retire early when you are spending $8,000 more than what your actual salary covers is an impossibility. Instead, most Americans are living on borrowed money, putting themselves deeper and deeper in debt each year.
The reality for most American citizens is that they have achieved $300,000 of debt as a minimum by the time they are 30 years of age. Add on top of that $30,000 for a car, $50,000 for school loans and tens of thousands of dollars in credit card debt and you are left with a reality where most individual is are in a downward spiral of never-ending debt. The concept of an early retirement is nothing more than a fantasy when your life revolves around 40 years of paying off credit.
Every year more and more individuals are choosing to leave the United States and live and other moderate countries such as France, Argentina, Australia, Bulgaria and Mexico. The reason is because the cost of living in these other countries is at most $20,000 a year for a family of four, compared to the United States where it costs $60,000 a year. When you retain your salary of 52k a year you can put over $30,000 a year in your bank, thus funding your early retirement.
The cost of a brand new home in a modern subdivision in Uruguay is a mere $50,000. A 10 year old home in Mexico averages around $30,000. These prices are roughly $200,000 less than the cost of a home back in the United States, which is why so many expats are moving abroad to achieve their dreams of an early retirement.
When you can put a baseline of $30,000 a year in your pocket on an average, ordinary, middle-of-the-road salary while living as an expat in another country, it's absolutely feasible that you can put together enough cash in a couple of years to completely retire, long before the traditional twilight years that most people are accustomed to. There is no reason to wait until you are 65 years old to enjoy a life of absolute freedom.
The reality for most American citizens is that they have achieved $300,000 of debt as a minimum by the time they are 30 years of age. Add on top of that $30,000 for a car, $50,000 for school loans and tens of thousands of dollars in credit card debt and you are left with a reality where most individual is are in a downward spiral of never-ending debt. The concept of an early retirement is nothing more than a fantasy when your life revolves around 40 years of paying off credit.
Every year more and more individuals are choosing to leave the United States and live and other moderate countries such as France, Argentina, Australia, Bulgaria and Mexico. The reason is because the cost of living in these other countries is at most $20,000 a year for a family of four, compared to the United States where it costs $60,000 a year. When you retain your salary of 52k a year you can put over $30,000 a year in your bank, thus funding your early retirement.
The cost of a brand new home in a modern subdivision in Uruguay is a mere $50,000. A 10 year old home in Mexico averages around $30,000. These prices are roughly $200,000 less than the cost of a home back in the United States, which is why so many expats are moving abroad to achieve their dreams of an early retirement.
When you can put a baseline of $30,000 a year in your pocket on an average, ordinary, middle-of-the-road salary while living as an expat in another country, it's absolutely feasible that you can put together enough cash in a couple of years to completely retire, long before the traditional twilight years that most people are accustomed to. There is no reason to wait until you are 65 years old to enjoy a life of absolute freedom.
About the Author:
Mingling with other travelers to explore expat diversity is one of the best ways to immerse yourself in the lifestyle of the expat explorer who enjoys a life of absolute freedom in countries around the world.
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