Early retirement for digital nomads

July 9, 2012 · Posted in Health 

The concept of an early retirement before the age of 65 is nothing more than pipe dream for most people. They would never even consider it to be a reality given the fact that it’s just not the way things are done…at least not traditionally. The traditional way is to graduate high school and then spend your entire adult life working for someone else’s benefit, working your way up a corporate ladder rung by rung over 40 years of your life, paying off school loans, car loans and a mortgage payment. The cold facts are that most adults in the U.S. won’t see retirement until after 65 years of age because that’s the way the system is designed to work.

But in the 21st century there are more and more intelligent entrepreneurs waking up to the fact that you not only don’t have to wait until you are 65+ to retire…but that you can do it for a lot less than the $500,000 that most people think you need to have in the bank to cover your cost of living for the rest of your life. In fact, if you trade the life of suburbia in for one of international travel as an expat you could find yourself retiring on as little as $35,000.

It sounds like a myth to most people, but it’s a reality that more and more expats are choosing to explore every year. A perfect example of such a place is Bulgaria, which joined the European Union in 2008. A quiet country on the eastern borders of Europe, the country has a low cost of living coupled with a rising medical tourism industry, several major cities and thousands of years of culture and history behind her. And while most Americans look at the country as something inferior, the reality is that Bulgaria is one of dozens of places you can choose for your early retirement.

The cost of living, for example, is a mere $8,000 a year on the high end if you want to enjoy an upper middle class lifestyle as an expat. That’s a total cost of living that includes your entertainment. And considering you can pick up a house, condo or apartment for around $35,000 to $50,000 in any of the major cities, you can easily have your home completely paid for after working just a few short years while utilizing your Western salary of $35,000 or more per year against a cost of living that is less than $10,000. If you saved $25,000 per year for a mere two years you could have your house completely paid for…without the 40+ years of mortgage payments.

This is the reality of the expat lifestyle, and it’s one that is chosen in preference to a life that is controlled by a government who wants you to stay at home and bury yourself in $300,000 of debt. But in the modern era when you can travel the world and choose to retire early in any country that you want, simply by living as an expat, you can see yourself to an early retirement on a lot less than $500,000.

If you have ever wanted to travel full time, there’s no time like the present. There are millions of others just like you from all around the world looking to explore the planet just like you.

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