Money Mistakes I Made Before Moving Abroad

So, in the last video, I walked you So, in the last video, I walked you through some of the mechanics that through some of the mechanics that through some of the mechanics that helped me build a 70% savings rate since helped me build a 70% savings rate since helped me build a 70% savings rate since I've been living abroad, specifically I've been living abroad, specifically I've been living abroad, specifically here in Southeast Asia, in Vietnam. I here in Southeast Asia, in Vietnam. I here in Southeast Asia, in Vietnam. I went over like the income structure, my went over like the income structure, my went over like the income structure, my expense discipline, the investment expense discipline, the investment expense discipline, the investment routing, basically all the things that routing, basically all the things that routing, basically all the things that I've done right or the good choices I've I've done right or the good choices I've I've done right or the good choices I've made financially. This video is kind of made financially. This video is kind of made financially. This video is kind of the other half. It's the exact opposite the other half. It's the exact opposite the other half. It's the exact opposite of the ledger. These are all the things of the ledger. These are all the things of the ledger. These are all the things I did wrong, all the mistakes I made, I did wrong, all the mistakes I made, I did wrong, all the mistakes I made, everything I basically screwed up on the everything I basically screwed up on the everything I basically screwed up on the way to getting here and figured out the way to getting here and figured out the way to getting here and figured out the hard way. Cuz, right, if I only show the hard way. Cuz, right, if I only show the hard way. Cuz, right, if I only show the positive mechanics, what works, it positive mechanics, what works, it positive mechanics, what works, it creates this false narrative, 20/20 in creates this false narrative, 20/20 in creates this false narrative, 20/20 in hindsight, right? Everything can look hindsight, right? Everything can look hindsight, right? Everything can look good looking backwards when you put that good looking backwards when you put that good looking backwards when you put that clean line through it. But, I told you clean line through it. But, I told you clean line through it. But, I told you at the start of this series, right? I do at the start of this series, right? I do at the start of this series, right? I do not make sort of not make sort of not make sort of pamphlets or brochures or whatever. I'm pamphlets or brochures or whatever. I'm pamphlets or brochures or whatever. I'm trying to actually tell you how I ended trying to actually tell you how I ended trying to actually tell you how I ended up doing what I've done. up doing what I've done. up doing what I've done. Uh and the savings rate is real, but so Uh and the savings rate is real, but so Uh and the savings rate is real, but so are the mistakes that I made along the are the mistakes that I made along the are the mistakes that I made along the way to getting there. And some of them way to getting there. And some of them way to getting there. And some of them cost me a lot more than just money, they cost me a lot more than just money, they cost me a lot more than just money, they cost me time, they cost me effort, they cost me time, they cost me effort, they cost me time, they cost me effort, they cost me years of my life, essentially.

cost me years of my life, essentially. cost me years of my life, essentially. So, today I'm going to tell you So, today I'm going to tell you So, today I'm going to tell you uh basically five things that I did uh basically five things that I did uh basically five things that I did wrong and hopefully help you avoid them wrong and hopefully help you avoid them wrong and hopefully help you avoid them in your path to living abroad and maybe in your path to living abroad and maybe in your path to living abroad and maybe retiring early. These aren't the things retiring early. These aren't the things retiring early. These aren't the things that felt wrong at the time I was doing that felt wrong at the time I was doing that felt wrong at the time I was doing them, of course, and ended up turning them, of course, and ended up turning them, of course, and ended up turning out fine. They are not the decisions out fine. They are not the decisions out fine. They are not the decisions that I second-guessed and then justified that I second-guessed and then justified that I second-guessed and then justified later in hindsight. Um these are the later in hindsight. Um these are the later in hindsight. Um these are the things that were actually just flat-out things that were actually just flat-out things that were actually just flat-out wrong, like factually, observably, wrong, like factually, observably, wrong, like factually, observably, things that actually cost me money along things that actually cost me money along things that actually cost me money along the way. Um things that I can calculate the way. Um things that I can calculate the way. Um things that I can calculate and do the math from now, and I can look and do the math from now, and I can look and do the math from now, and I can look back and watch and say, "Okay, if I had back and watch and say, "Okay, if I had back and watch and say, "Okay, if I had a chance to do it again, I just would a chance to do it again, I just would a chance to do it again, I just would not do that." So, they're also things I not do that." So, they're also things I not do that." So, they're also things I see and watch people in the membership see and watch people in the membership see and watch people in the membership repeating every month that I basically repeating every month that I basically repeating every month that I basically have to talk them down from doing, talk have to talk them down from doing, talk have to talk them down from doing, talk them out of doing. So, even if you're them out of doing. So, even if you're them out of doing. So, even if you're smart and you're prepared, you're still smart and you're prepared, you're still smart and you're prepared, you're still going to ultimately run into these same going to ultimately run into these same going to ultimately run into these same walls, these same issues that I had walls, these same issues that I had walls, these same issues that I had along my way. And the reason ultimately along my way. And the reason ultimately along my way. And the reason ultimately this video exists is that the mistakes this video exists is that the mistakes this video exists is that the mistakes are more useful, are better learning are more useful, are better learning are more useful, are better learning opportunities than the actual success opportunities than the actual success opportunities than the actual success stories, which can just seem like a stories, which can just seem like a stories, which can just seem like a dream. So, the success story might be dream. So, the success story might be dream. So, the success story might be more inspiring, uh but the mistake has a more inspiring, uh but the mistake has a more inspiring, uh but the mistake has a real cost that you can calculate later.

real cost that you can calculate later. real cost that you can calculate later. And if you can calculate the cost, if And if you can calculate the cost, if And if you can calculate the cost, if you can find the number, the data behind you can find the number, the data behind you can find the number, the data behind it, that to me is more powerful of an it, that to me is more powerful of an it, that to me is more powerful of an argument than some sort of abstract or argument than some sort of abstract or argument than some sort of abstract or personal benefit, right? You can feel personal benefit, right? You can feel personal benefit, right? You can feel exactly what the right decision would exactly what the right decision would exactly what the right decision would have saved you cuz you can add it up, have saved you cuz you can add it up, have saved you cuz you can add it up, figure out the numbers. And for me, that figure out the numbers. And for me, that figure out the numbers. And for me, that kind of data, that kind of actual kind of data, that kind of actual kind of data, that kind of actual specifics is really motivating in the specifics is really motivating in the specifics is really motivating in the way that sort of an inspirational talk way that sort of an inspirational talk way that sort of an inspirational talk or pep talk is not, right? The five or pep talk is not, right? The five or pep talk is not, right? The five mistakes are real costs attached to mistakes are real costs attached to mistakes are real costs attached to each. Let's go through them. Okay, so each. Let's go through them. Okay, so each. Let's go through them. Okay, so mistake one for me mistake one for me mistake one for me uh was going home, was Calgary, 2015, uh was going home, was Calgary, 2015, uh was going home, was Calgary, 2015, 2016, 2017. If you've been following the 2016, 2017. If you've been following the 2016, 2017. If you've been following the series, you already know the bones of series, you already know the bones of series, you already know the bones of the story. I was already abroad, I'd the story. I was already abroad, I'd the story. I was already abroad, I'd already been in Mexico, been in already been in Mexico, been in already been in Mexico, been in Australia, in Thailand. And I told you Australia, in Thailand. And I told you Australia, in Thailand. And I told you guys in the very first video, the one guys in the very first video, the one guys in the very first video, the one about the real reasons I left, and I about the real reasons I left, and I about the real reasons I left, and I touched it again last video when I touched it again last video when I touched it again last video when I showed you what those years in Canada showed you what those years in Canada showed you what those years in Canada did to my savings rate. Uh but I'm did to my savings rate. Uh but I'm did to my savings rate. Uh but I'm really going to emphasize and tell it really going to emphasize and tell it really going to emphasize and tell it one more time here in full that because one more time here in full that because one more time here in full that because I wasn't fully committed, right? This is I wasn't fully committed, right? This is I wasn't fully committed, right? This is the video where it belongs the most.

the video where it belongs the most. the video where it belongs the most. This is ultimately the biggest financial This is ultimately the biggest financial This is ultimately the biggest financial mistake along the way was that mistake along the way was that mistake along the way was that hesitation, trying to have one foot in hesitation, trying to have one foot in hesitation, trying to have one foot in the door and one foot out of the door. the door and one foot out of the door. the door and one foot out of the door. And I want to walk you through uh not And I want to walk you through uh not And I want to walk you through uh not just what happens psychologically, but just what happens psychologically, but just what happens psychologically, but the actual cost of each year when I went the actual cost of each year when I went the actual cost of each year when I went back home. So, the setup was I was in back home. So, the setup was I was in back home. So, the setup was I was in Thailand, right? This is around spring Thailand, right? This is around spring Thailand, right? This is around spring 2016, I want to say. Seasonal nomadic, 2016, I want to say. Seasonal nomadic, 2016, I want to say. Seasonal nomadic, I've been working in Australia teaching. I've been working in Australia teaching. I've been working in Australia teaching. Um Um Um the teaching career allowed me during the teaching career allowed me during the teaching career allowed me during the gaps to basically travel for weeks, the gaps to basically travel for weeks, the gaps to basically travel for weeks, if not months, at a time. I was in Koh if not months, at a time. I was in Koh if not months, at a time. I was in Koh Tao specifically, it's a beautiful Tao specifically, it's a beautiful Tao specifically, it's a beautiful little island in the south, a small little island in the south, a small little island in the south, a small island in the Gulf near Koh Samui and island in the Gulf near Koh Samui and island in the Gulf near Koh Samui and Koh Phangan. Yeah. It's kind of place Koh Phangan. Yeah. It's kind of place Koh Phangan. Yeah. It's kind of place where like divers and scuba divers go. where like divers and scuba divers go. where like divers and scuba divers go. The water is clear, blue, beautiful. The The water is clear, blue, beautiful. The The water is clear, blue, beautiful. The days are slow. The cost of being alive days are slow. The cost of being alive days are slow. The cost of being alive is low enough that it doesn't occur to is low enough that it doesn't occur to is low enough that it doesn't occur to you to rush or to really do anything. It you to rush or to really do anything. It you to rush or to really do anything. It does kind of have a permanent vacation does kind of have a permanent vacation does kind of have a permanent vacation feel. So, I did Zoom schedule feel. So, I did Zoom schedule feel. So, I did Zoom schedule for like early in the morning to talk to for like early in the morning to talk to for like early in the morning to talk to a job back home, right? A school a job back home, right? A school a job back home, right? A school district in Canada, Alberta, Calgary district in Canada, Alberta, Calgary district in Canada, Alberta, Calgary specifically. They reached out about a specifically. They reached out about a specifically. They reached out about a teaching position cuz whatever, I have teaching position cuz whatever, I have teaching position cuz whatever, I have my resume online somewhere. This is like my resume online somewhere. This is like my resume online somewhere. This is like a public school civil servant government a public school civil servant government a public school civil servant government job, you know, permanent contract, job, you know, permanent contract, job, you know, permanent contract, union, pension, benefits, all that union, pension, benefits, all that union, pension, benefits, all that thing, right? The whole square, do it thing, right? The whole square, do it thing, right? The whole square, do it right, proximity to family in the West right, proximity to family in the West right, proximity to family in the West Coast of Canada, all the things that Coast of Canada, all the things that Coast of Canada, all the things that sound responsible and stable and correct sound responsible and stable and correct sound responsible and stable and correct right around, you know, when you're 30

right around, you know, when you're 30 right around, you know, when you're 30 years old or whatever, 40 years old, and years old or whatever, 40 years old, and years old or whatever, 40 years old, and a reasonable adult tells you this is the a reasonable adult tells you this is the a reasonable adult tells you this is the next step. But, I was not doing that. I next step. But, I was not doing that. I next step. But, I was not doing that. I was on a beach, basically in a hammock, was on a beach, basically in a hammock, was on a beach, basically in a hammock, you know, drinking, hanging. When the you know, drinking, hanging. When the you know, drinking, hanging. When the Zoom call started, the hiring committee Zoom call started, the hiring committee Zoom call started, the hiring committee was very pleasant. The job was real. was very pleasant. The job was real. was very pleasant. The job was real. Clearly, it was an offer, and somewhere Clearly, it was an offer, and somewhere Clearly, it was an offer, and somewhere in that first 20 minutes of the in that first 20 minutes of the in that first 20 minutes of the conversation, when they basically laid conversation, when they basically laid conversation, when they basically laid out what I would be doing for the next out what I would be doing for the next out what I would be doing for the next decade of my life, I knew, not just as decade of my life, I knew, not just as decade of my life, I knew, not just as fact, that fact, that fact, that not just like had butterflies in my not just like had butterflies in my not just like had butterflies in my stomach, I knew clearly, specifically, stomach, I knew clearly, specifically, stomach, I knew clearly, specifically, understanding this was the wrong understanding this was the wrong understanding this was the wrong decision for me. The issue is that I decision for me. The issue is that I decision for me. The issue is that I didn't quite understand why I felt that didn't quite understand why I felt that didn't quite understand why I felt that way, right? The life I'd built abroad way, right? The life I'd built abroad way, right? The life I'd built abroad already, the one that was working, that already, the one that was working, that already, the one that was working, that was fun, that was beautiful in Southeast was fun, that was beautiful in Southeast was fun, that was beautiful in Southeast Asia, and it had been compounding Asia, and it had been compounding Asia, and it had been compounding savings-wise in the right direction for savings-wise in the right direction for savings-wise in the right direction for for quite a few years. I mean, I didn't for quite a few years. I mean, I didn't for quite a few years. I mean, I didn't have anything near retirement money have anything near retirement money have anything near retirement money then, but Mexico, Southeast Asia, even then, but Mexico, Southeast Asia, even then, but Mexico, Southeast Asia, even Australia or whatever, had allowed me to Australia or whatever, had allowed me to Australia or whatever, had allowed me to sort of live, travel, and save, and I sort of live, travel, and save, and I sort of live, travel, and save, and I knew that back home, I likely wouldn't knew that back home, I likely wouldn't knew that back home, I likely wouldn't be able to do that, right? The back home be able to do that, right? The back home be able to do that, right? The back home career would involve a mortgage, maybe career would involve a mortgage, maybe career would involve a mortgage, maybe kids, a different kind of commitment.

kids, a different kind of commitment. kids, a different kind of commitment. But, I had a Canadian girlfriend. She But, I had a Canadian girlfriend. She But, I had a Canadian girlfriend. She wanted to go back home. wanted to go back home. wanted to go back home. Whatever. I took the job. I went for it. Whatever. I took the job. I went for it. Whatever. I took the job. I went for it. But, I didn't understand, even as you But, I didn't understand, even as you But, I didn't understand, even as you know, we packed up our knapsacks, flew know, we packed up our knapsacks, flew know, we packed up our knapsacks, flew home, prepared, and then went out to the home, prepared, and then went out to the home, prepared, and then went out to the job, I didn't understand what 2 years in job, I didn't understand what 2 years in job, I didn't understand what 2 years in Calgary would actually cost financially. Calgary would actually cost financially. Calgary would actually cost financially. Cuz it was the highest paying job I'd Cuz it was the highest paying job I'd Cuz it was the highest paying job I'd ever had at the time. Public school ever had at the time. Public school ever had at the time. Public school teaching that I did in your graduate teaching that I did in your graduate teaching that I did in your graduate school as well, both fine. Calgary's school as well, both fine. Calgary's school as well, both fine. Calgary's actually a great city. It's it's actually a great city. It's it's actually a great city. It's it's probably the best place if you're a probably the best place if you're a probably the best place if you're a young person in Canada. Teaching is a young person in Canada. Teaching is a young person in Canada. Teaching is a wonderful meaningful profession. Uh wonderful meaningful profession. Uh wonderful meaningful profession. Uh being a public school teacher, you know, being a public school teacher, you know, being a public school teacher, you know, you're on the front line, so to speak, you're on the front line, so to speak, you're on the front line, so to speak, right? Neither of those things is really right? Neither of those things is really right? Neither of those things is really the problem. It wasn't the job. The job the problem. It wasn't the job. The job the problem. It wasn't the job. The job paid about 75 grand a year. But, the paid about 75 grand a year. But, the paid about 75 grand a year. But, the problem is the financial mathematics of problem is the financial mathematics of problem is the financial mathematics of the choice, the actual cost of living the choice, the actual cost of living the choice, the actual cost of living back home in Canada relative to here, back home in Canada relative to here, back home in Canada relative to here, which basically just destroyed my which basically just destroyed my which basically just destroyed my savings rate. During the easy years savings rate. During the easy years savings rate. During the easy years before Calgary, my savings rate could before Calgary, my savings rate could before Calgary, my savings rate could easily get up to 40, 50% right? I'd easily get up to 40, 50% right? I'd easily get up to 40, 50% right? I'd still be able to travel. I'd save about still be able to travel. I'd save about still be able to travel. I'd save about half of what I was earning. I definitely half of what I was earning. I definitely half of what I was earning. I definitely wasn't in a 70 to 80% rate like later wasn't in a 70 to 80% rate like later wasn't in a 70 to 80% rate like later when I went here to Vietnam. Uh but, it when I went here to Vietnam. Uh but, it when I went here to Vietnam. Uh but, it was still meaningful. I was still paying was still meaningful. I was still paying was still meaningful. I was still paying down debts. I was still saving. The down debts. I was still saving. The down debts. I was still saving. The international school income, a real international school income, a real international school income, a real teaching job abroad, you're getting teaching job abroad, you're getting teaching job abroad, you're getting housing benefits, low cost of living housing benefits, low cost of living housing benefits, low cost of living relative to salary, earning online in US relative to salary, earning online in US relative to salary, earning online in US dollars, spending in Thai baht or in uh dollars, spending in Thai baht or in uh dollars, spending in Thai baht or in uh you know, Vietnam dong or whatever you know, Vietnam dong or whatever you know, Vietnam dong or whatever currency.

currency. currency. And that got allows you to put it right And that got allows you to put it right And that got allows you to put it right into savings. So, during the public into savings. So, during the public into savings. So, during the public school years, the years back in Canada, school years, the years back in Canada, school years, the years back in Canada, the salary was higher, but the cost of the salary was higher, but the cost of the salary was higher, but the cost of living commensurate was not adequate. living commensurate was not adequate. living commensurate was not adequate. And then I went and spent money on And then I went and spent money on And then I went and spent money on graduate school tuition, also a huge graduate school tuition, also a huge graduate school tuition, also a huge [ __ ] mistake. So, the rate my savings [ __ ] mistake. So, the rate my savings [ __ ] mistake. So, the rate my savings rate dropped to 10 rate dropped to 10 rate dropped to 10 or less or less or less usually a month, 10%, right? So, usually a month, 10%, right? So, usually a month, 10%, right? So, I had no housing allowance. I had no I had no housing allowance. I had no I had no housing allowance. I had no kind of tax breaks as a foreigner, a kind of tax breaks as a foreigner, a kind of tax breaks as a foreigner, a non-resident status. Calgary was cheap non-resident status. Calgary was cheap non-resident status. Calgary was cheap relative to Toronto or Vancouver relative to Toronto or Vancouver relative to Toronto or Vancouver standards, but you know, not cheap in standards, but you know, not cheap in standards, but you know, not cheap in the world. Dramatically more expensive the world. Dramatically more expensive the world. Dramatically more expensive than anywhere I've been living for years than anywhere I've been living for years than anywhere I've been living for years before. So, talking about rent, housing, before. So, talking about rent, housing, before. So, talking about rent, housing, transport, the city just requires for transport, the city just requires for transport, the city just requires for basics, you know, getting a roof over basics, you know, getting a roof over basics, you know, getting a roof over your head, eating, your head, eating, your head, eating, Canadian life on a Canadian teacher Canadian life on a Canadian teacher Canadian life on a Canadian teacher salary, it produced a completely salary, it produced a completely salary, it produced a completely different income to expense ratio. Most different income to expense ratio. Most different income to expense ratio. Most of the time, like I was take home in a of the time, like I was take home in a of the time, like I was take home in a year, I was about 40,000, roughly 36 a year, I was about 40,000, roughly 36 a year, I was about 40,000, roughly 36 a month after taxes, after pension month after taxes, after pension month after taxes, after pension payments, after union dues, after all payments, after union dues, after all payments, after union dues, after all that crap. So, we're talking about that crap. So, we're talking about that crap. So, we're talking about roughly $900 a week. For me, I just roughly $900 a week. For me, I just roughly $900 a week. For me, I just at minimum, I'm spending $100 a day on at minimum, I'm spending $100 a day on at minimum, I'm spending $100 a day on basics. We're talking 700 a week, then basics. We're talking 700 a week, then basics. We're talking 700 a week, then 200 for discretionary a week. It is so 200 for discretionary a week. It is so 200 for discretionary a week. It is so easy to spend that. Like one night out easy to spend that. Like one night out easy to spend that. Like one night out having a couple beers, a meal with having a couple beers, a meal with having a couple beers, a meal with friends, whatever, uh going to rock friends, whatever, uh going to rock friends, whatever, uh going to rock climbing trip or something on the climbing trip or something on the climbing trip or something on the weekend, and it's gone. So, the savings weekend, and it's gone. So, the savings weekend, and it's gone. So, the savings rate just disappeared. The mathematical rate just disappeared. The mathematical rate just disappeared. The mathematical cost difference in savings rate cost difference in savings rate cost difference in savings rate compounded from 2016 to 2024, when I

compounded from 2016 to 2024, when I compounded from 2016 to 2024, when I actually stopped working, it's not a actually stopped working, it's not a actually stopped working, it's not a number I can give you with false number I can give you with false number I can give you with false precision, but compounding is sensitive precision, but compounding is sensitive precision, but compounding is sensitive to assumptions about return rates, the to assumptions about return rates, the to assumptions about return rates, the different years, the markets, the different years, the markets, the different years, the markets, the specific timing of contributions. And specific timing of contributions. And specific timing of contributions. And basically, basically, basically, for 3 years, I made little to no for 3 years, I made little to no for 3 years, I made little to no contributions. What I can tell you is contributions. What I can tell you is contributions. What I can tell you is that the qualitative version of the math that the qualitative version of the math that the qualitative version of the math is very clear. The 3 years of is very clear. The 3 years of is very clear. The 3 years of compounding interrupted at the rate the compounding interrupted at the rate the compounding interrupted at the rate the Vietnam years later produced, Vietnam years later produced, Vietnam years later produced, the difference cost me multiple years of the difference cost me multiple years of the difference cost me multiple years of retirement down the line, right? We're retirement down the line, right? We're retirement down the line, right? We're talking about the difference between talking about the difference between talking about the difference between retiring at 45 versus 40, at 40 versus retiring at 45 versus 40, at 40 versus retiring at 45 versus 40, at 40 versus 35, at 50 versus 55. It's not a minor 35, at 50 versus 55. It's not a minor 35, at 50 versus 55. It's not a minor adjustment. Each year of having zero adjustment. Each year of having zero adjustment. Each year of having zero savings rate is going to cost you savings rate is going to cost you savings rate is going to cost you multiple years of freedom later on. The multiple years of freedom later on. The multiple years of freedom later on. The compounding cost is really only part of compounding cost is really only part of compounding cost is really only part of it. The other huge issue for me is the it. The other huge issue for me is the it. The other huge issue for me is the lifestyle cost, which is real and very lifestyle cost, which is real and very lifestyle cost, which is real and very quantifiable in its own way. 3 years of quantifiable in its own way. 3 years of quantifiable in its own way. 3 years of Canadian winters [ __ ] sucked. Canadian winters [ __ ] sucked. Canadian winters [ __ ] sucked. It's just the truth. I hadn't lived It's just the truth. I hadn't lived It's just the truth. I hadn't lived there in a long time and I wasn't ready there in a long time and I wasn't ready there in a long time and I wasn't ready to go back, you know? I'd been almost a to go back, you know? I'd been almost a to go back, you know? I'd been almost a decade abroad already, so the cost decade abroad already, so the cost decade abroad already, so the cost structure, the climate, structure, the climate, structure, the climate, you know, whatever. It's not a tragedy, you know, whatever. It's not a tragedy, you know, whatever. It's not a tragedy, like I'm clearly privileged here, but like I'm clearly privileged here, but like I'm clearly privileged here, but there's a clear and measurable downgrade there's a clear and measurable downgrade there's a clear and measurable downgrade from the life that I'd already had.

from the life that I'd already had. from the life that I'd already had. And it's hard to move away, so I'd And it's hard to move away, so I'd And it's hard to move away, so I'd already made those sacrifices. The Koh already made those sacrifices. The Koh already made those sacrifices. The Koh Tao moment for me is not really about a Tao moment for me is not really about a Tao moment for me is not really about a beach, it's about an inflection point, beach, it's about an inflection point, beach, it's about an inflection point, right? It's about the gap between right? It's about the gap between right? It's about the gap between knowing what you actually want to do and knowing what you actually want to do and knowing what you actually want to do and being ready to claim it and commit to it being ready to claim it and commit to it being ready to claim it and commit to it and go full on 100% in. So, I knew and go full on 100% in. So, I knew and go full on 100% in. So, I knew before I accepted that job back in before I accepted that job back in before I accepted that job back in Canada, I took it anyways basically Canada, I took it anyways basically Canada, I took it anyways basically because I was being chicken [ __ ] because I was being chicken [ __ ] because I was being chicken [ __ ] telling myself, "Oh, responsibility, telling myself, "Oh, responsibility, telling myself, "Oh, responsibility, family proximity, pensions, legitimacy." family proximity, pensions, legitimacy." family proximity, pensions, legitimacy." All that stuff, all real, you know? All that stuff, all real, you know? All that stuff, all real, you know? Accreditation of graduate school. Nobody Accreditation of graduate school. Nobody Accreditation of graduate school. Nobody told me to take that particular job or told me to take that particular job or told me to take that particular job or do what I did, do what I did, do what I did, uh but ultimately uh but ultimately uh but ultimately it cost me years of freedom. So, the it cost me years of freedom. So, the it cost me years of freedom. So, the lesson from that mistake is not that you lesson from that mistake is not that you lesson from that mistake is not that you should never go home and visit. I'm should never go home and visit. I'm should never go home and visit. I'm going home this summer even though it's going home this summer even though it's going home this summer even though it's going to cost an arm and a leg. It's going to cost an arm and a leg. It's going to cost an arm and a leg. It's that if you have a Koh Tao moment, if that if you have a Koh Tao moment, if that if you have a Koh Tao moment, if you already know what you actually want, you already know what you actually want, you already know what you actually want, but you're just afraid, you're standing but you're just afraid, you're standing but you're just afraid, you're standing in the door, if you know the answer in the door, if you know the answer in the door, if you know the answer intuitively in your gut, the cost of intuitively in your gut, the cost of intuitively in your gut, the cost of choosing the other answer might choosing the other answer might choosing the other answer might literally cost you years of freedom, literally cost you years of freedom, literally cost you years of freedom, years of your life, right? It is every years of your life, right? It is every years of your life, right? It is every year of compounding you don't interrupt.

year of compounding you don't interrupt. year of compounding you don't interrupt. You're saving 80%, that means 4 years of You're saving 80%, that means 4 years of You're saving 80%, that means 4 years of freedom for every year worked. I might freedom for every year worked. I might freedom for every year worked. I might have cost myself 12 years. Even at 50%, have cost myself 12 years. Even at 50%, have cost myself 12 years. Even at 50%, you're talking about 3 years of freedom. you're talking about 3 years of freedom. you're talking about 3 years of freedom. And you just resume at the same place at And you just resume at the same place at And you just resume at the same place at a lower base. Mistake number two is a a lower base. Mistake number two is a a lower base. Mistake number two is a big one, trying to time the exchange big one, trying to time the exchange big one, trying to time the exchange rate. You cannot do this. You're not a rate. You cannot do this. You're not a rate. You cannot do this. You're not a Forex trader, right? So, in my early Forex trader, right? So, in my early Forex trader, right? So, in my early expat years, I held balances across expat years, I held balances across expat years, I held balances across different currencies, pesos, Canadian different currencies, pesos, Canadian different currencies, pesos, Canadian dollars, US dollars at different times, dollars, US dollars at different times, dollars, US dollars at different times, and different accounts. I also did this and different accounts. I also did this and different accounts. I also did this sometimes in Coinbase cryptos. I tried sometimes in Coinbase cryptos. I tried sometimes in Coinbase cryptos. I tried to basically time the exchanges, which to basically time the exchanges, which to basically time the exchanges, which is like trading money. The logic feels is like trading money. The logic feels is like trading money. The logic feels sound, right? The rate's at a good level sound, right? The rate's at a good level sound, right? The rate's at a good level now, so I'll convert a larger amount, now, so I'll convert a larger amount, now, so I'll convert a larger amount, and I'll lock it in, and I'll buy the and I'll lock it in, and I'll buy the and I'll lock it in, and I'll buy the value. The rate has moved against me value. The rate has moved against me value. The rate has moved against me more times than it's worked for me, so more times than it's worked for me, so more times than it's worked for me, so I'll wait for it to come back before I'll wait for it to come back before I'll wait for it to come back before converting the next tranche, but it's converting the next tranche, but it's converting the next tranche, but it's like timing the market. Ultimately, it's like timing the market. Ultimately, it's like timing the market. Ultimately, it's impossible. You're not going to do it, impossible. You're not going to do it, impossible. You're not going to do it, right? So, what actually happens over right? So, what actually happens over right? So, what actually happens over several years of doing this is that you several years of doing this is that you several years of doing this is that you end up costing yourself real money, and end up costing yourself real money, and end up costing yourself real money, and even worse, you end up spending all of even worse, you end up spending all of even worse, you end up spending all of this decision-making ability, all of this decision-making ability, all of this decision-making ability, all of your own energy, your fatigue. You see your own energy, your fatigue. You see your own energy, your fatigue. You see You hear this all the time, expats and You hear this all the time, expats and You hear this all the time, expats and travelers like having these huge travelers like having these huge travelers like having these huge currency rate discussions, where's currency rate discussions, where's currency rate discussions, where's cheaper, how to get it, where to take cheaper, how to get it, where to take cheaper, how to get it, where to take advantage, yada yada. It's delusional to advantage, yada yada. It's delusional to advantage, yada yada. It's delusional to think you can guess the different market think you can guess the different market think you can guess the different market rates of economies. It's just not rates of economies. It's just not rates of economies. It's just not happening. So, the moments I felt the happening. So, the moments I felt the happening. So, the moments I felt the most confident about the rate were most confident about the rate were most confident about the rate were frequently the moments where it was

frequently the moments where it was frequently the moments where it was already near its peak for that cycle. already near its peak for that cycle. already near its peak for that cycle. That's what happens, right? As it goes That's what happens, right? As it goes That's what happens, right? As it goes up, one currency against the other, you up, one currency against the other, you up, one currency against the other, you start to get more and more confident start to get more and more confident start to get more and more confident saying, "Oh, yeah, I'm making great saying, "Oh, yeah, I'm making great saying, "Oh, yeah, I'm making great money." And confidence in a rate is a money." And confidence in a rate is a money." And confidence in a rate is a lagging indicator, right? By the time it lagging indicator, right? By the time it lagging indicator, right? By the time it feels like an obviously good decision, feels like an obviously good decision, feels like an obviously good decision, a lot of other people also know this, a lot of other people also know this, a lot of other people also know this, and they're already acting on it, so and they're already acting on it, so and they're already acting on it, so you're going to lose out. And you're going to lose out. And you're going to lose out. And ultimately, the moments where I waited ultimately, the moments where I waited ultimately, the moments where I waited for a recovery were often moments for a recovery were often moments for a recovery were often moments where the rate kept moving. I mean, you where the rate kept moving. I mean, you where the rate kept moving. I mean, you can't do that. It's going to be It's can't do that. It's going to be It's can't do that. It's going to be It's like walking through um like walking through um like walking through um sinking sand, right? Like you're on an sinking sand, right? Like you're on an sinking sand, right? Like you're on an escalator. You're never going to win. escalator. You're never going to win. escalator. You're never going to win. Over 5 or 6 years of this, the losses Over 5 or 6 years of this, the losses Over 5 or 6 years of this, the losses that all feel small from bad timing, that all feel small from bad timing, that all feel small from bad timing, plus the opportunity cost money sitting plus the opportunity cost money sitting plus the opportunity cost money sitting idle, it can run into the literally idle, it can run into the literally idle, it can run into the literally thousands of dollars of cost, right? And thousands of dollars of cost, right? And thousands of dollars of cost, right? And I never ultimately calculated this I never ultimately calculated this I never ultimately calculated this precisely in a big long-term way. precisely in a big long-term way. precisely in a big long-term way. Tracking every timing decision Tracking every timing decision Tracking every timing decision retrospectively is not how anyone wants retrospectively is not how anyone wants retrospectively is not how anyone wants to spend an afternoon, a day, whatever to spend an afternoon, a day, whatever to spend an afternoon, a day, whatever on spreadsheets. Across years of this of on spreadsheets. Across years of this of on spreadsheets. Across years of this of transfers, it it's very clear and transfers, it it's very clear and transfers, it it's very clear and meaningful that you will lose cash and meaningful that you will lose cash and meaningful that you will lose cash and income by doing this, right? The order income by doing this, right? The order income by doing this, right? The order of magnitude of any single transaction of magnitude of any single transaction of magnitude of any single transaction isn't enough to matter. You just think, isn't enough to matter. You just think, isn't enough to matter. You just think, "Oh, I'm losing a dollar here, two "Oh, I'm losing a dollar here, two "Oh, I'm losing a dollar here, two dollars there, yada yada."

dollars there, yada yada." dollars there, yada yada." But there is a very clear effects to But there is a very clear effects to But there is a very clear effects to this, right? The fix is very this, right? The fix is very this, right? The fix is very straightforward. straightforward. straightforward. I've used it consistently now for the I've used it consistently now for the I've used it consistently now for the last couple years and I've never gone last couple years and I've never gone last couple years and I've never gone back, never had to worry about the back, never had to worry about the back, never had to worry about the timing. It's very simple, just like timing. It's very simple, just like timing. It's very simple, just like dollar cost averaging when you invest, dollar cost averaging when you invest, dollar cost averaging when you invest, you transfer money on a regular schedule you transfer money on a regular schedule you transfer money on a regular schedule regardless of where the rate sits. regardless of where the rate sits. regardless of where the rate sits. Sounds boring, it works. Use a service Sounds boring, it works. Use a service Sounds boring, it works. Use a service like Wise that gives you the mid-market like Wise that gives you the mid-market like Wise that gives you the mid-market rate with transparent fees. So, Wise is rate with transparent fees. So, Wise is rate with transparent fees. So, Wise is the one I've been using now for I think the one I've been using now for I think the one I've been using now for I think 3 years. The fee is shown before you 3 years. The fee is shown before you 3 years. The fee is shown before you confirm, the rate is within the confirm, the rate is within the confirm, the rate is within the fractions of the actual cost, the fractions of the actual cost, the fractions of the actual cost, the interbank rate. Very simple to use, very interbank rate. Very simple to use, very interbank rate. Very simple to use, very instant. The small consistent fee costs instant. The small consistent fee costs instant. The small consistent fee costs far less than the irregular large losses far less than the irregular large losses far less than the irregular large losses from trying to time the market, right? from trying to time the market, right? from trying to time the market, right? So, instead of saying, "Okay, the So, instead of saying, "Okay, the So, instead of saying, "Okay, the market's good. I'm going to send 10,000 market's good. I'm going to send 10,000 market's good. I'm going to send 10,000 today." No, you just send your 1,500 today." No, you just send your 1,500 today." No, you just send your 1,500 bucks every month on the first of the bucks every month on the first of the bucks every month on the first of the month. Works the same way as dollar cost month. Works the same way as dollar cost month. Works the same way as dollar cost averaging. Never try to time the averaging. Never try to time the averaging. Never try to time the exchange rate again. Trust me, you'll exchange rate again. Trust me, you'll exchange rate again. Trust me, you'll thank me later. Set a schedule, execute thank me later. Set a schedule, execute thank me later. Set a schedule, execute on it. The peace of mind alone is worth on it. The peace of mind alone is worth on it. The peace of mind alone is worth the marginal fee and ultimately you just the marginal fee and ultimately you just the marginal fee and ultimately you just never have to think about it again, never have to think about it again, never have to think about it again, right? Easy. Okay, mistake three, too right? Easy. Okay, mistake three, too right? Easy. Okay, mistake three, too much in the cash buffer. Saying this out much in the cash buffer. Saying this out much in the cash buffer. Saying this out loud, I'm literally thinking I'm loud, I'm literally thinking I'm loud, I'm literally thinking I'm probably making this mistake right now, probably making this mistake right now, probably making this mistake right now, but I've been keeping extra cash around but I've been keeping extra cash around but I've been keeping extra cash around because I know I have to go back to because I know I have to go back to because I know I have to go back to Canada this summer. So, for the first 2 Canada this summer. So, for the first 2 Canada this summer. So, for the first 2 years of serious savings, I kept too years of serious savings, I kept too years of serious savings, I kept too much cash in accessible low interest much cash in accessible low interest much cash in accessible low interest accounts like a 4% annual savings, accounts like a 4% annual savings, accounts like a 4% annual savings, right? My justification was having the right? My justification was having the right? My justification was having the buffer, i.e. being afraid, the emergency

buffer, i.e. being afraid, the emergency buffer, i.e. being afraid, the emergency fund, the sleep at night money. Um and fund, the sleep at night money. Um and fund, the sleep at night money. Um and the justification is partially valid. the justification is partially valid. the justification is partially valid. So, when I first retired, I had about So, when I first retired, I had about So, when I first retired, I had about 25,000 in cash, like just a straight 25,000 in cash, like just a straight 25,000 in cash, like just a straight cash buffer. And I thought, "Okay, cash buffer. And I thought, "Okay, cash buffer. And I thought, "Okay, that's more than 2,000 a month for a that's more than 2,000 a month for a that's more than 2,000 a month for a full year. Plus, have my investments, full year. Plus, have my investments, full year. Plus, have my investments, have my online income streams. Plenty. have my online income streams. Plenty. have my online income streams. Plenty. I'm going to be super safe." And I was I'm going to be super safe." And I was I'm going to be super safe." And I was being conservative about it, right? being conservative about it, right? being conservative about it, right? I easily could have had half that as a I easily could have had half that as a I easily could have had half that as a buffer, had 10,000, 15,000, 12,000, and buffer, had 10,000, 15,000, 12,000, and buffer, had 10,000, 15,000, 12,000, and the rest in growth investments, but I the rest in growth investments, but I the rest in growth investments, but I didn't. The buffer is not optional in didn't. The buffer is not optional in didn't. The buffer is not optional in expat life, especially if you don't have expat life, especially if you don't have expat life, especially if you don't have or pay for health insurance, like or pay for health insurance, like or pay for health insurance, like SafetyWing. Things will go wrong SafetyWing. Things will go wrong SafetyWing. Things will go wrong unexpectedly. Every YouTuber who lives unexpectedly. Every YouTuber who lives unexpectedly. Every YouTuber who lives abroad talks about it. The correct abroad talks about it. The correct abroad talks about it. The correct buffer size though is probably 3 to 6 buffer size though is probably 3 to 6 buffer size though is probably 3 to 6 months of living expenses. I often have months of living expenses. I often have months of living expenses. I often have 12 to 18 months because I still get 12 to 18 months because I still get 12 to 18 months because I still get stressed about this. In Vietnam at my stressed about this. In Vietnam at my stressed about this. In Vietnam at my burn rate of 1,200 18 a month, we're burn rate of 1,200 18 a month, we're burn rate of 1,200 18 a month, we're talking about somewhere between 3,600 to talking about somewhere between 3,600 to talking about somewhere between 3,600 to 10,800. 10,800. 10,800. I do often keep 20 to 30,000 in cash. Um I do often keep 20 to 30,000 in cash. Um I do often keep 20 to 30,000 in cash. Um the amount I actually held is really the amount I actually held is really the amount I actually held is really much closer to 12 to 18 months of much closer to 12 to 18 months of much closer to 12 to 18 months of expenses, expenses, expenses, uh which is really uh which is really uh which is really more than twice the upper end of the more than twice the upper end of the more than twice the upper end of the appropriate range. You're losing money appropriate range. You're losing money appropriate range. You're losing money on investments if you do this. This is on investments if you do this. This is on investments if you do this. This is why it's a bad idea to have all this why it's a bad idea to have all this why it's a bad idea to have all this money just sitting in cash. I know other money just sitting in cash. I know other money just sitting in cash. I know other people have way more than that, way more people have way more than that, way more people have way more than that, way more than 25,000, but ultimately just than 25,000, but ultimately just than 25,000, but ultimately just factually, statistically, everything factually, statistically, everything factually, statistically, everything above the correct buffer level is an above the correct buffer level is an above the correct buffer level is an opportunity cost, right? So, money opportunity cost, right? So, money opportunity cost, right? So, money earning 1 to 2% in a savings account

earning 1 to 2% in a savings account earning 1 to 2% in a savings account while the market index returns far more while the market index returns far more while the market index returns far more over the same period, right? Last year, over the same period, right? Last year, over the same period, right? Last year, the returns have been bonkers, so you the returns have been bonkers, so you the returns have been bonkers, so you might even be talking about 20 or 30% on might even be talking about 20 or 30% on might even be talking about 20 or 30% on 10,000 to 15,000 of excess buffer held 10,000 to 15,000 of excess buffer held 10,000 to 15,000 of excess buffer held for a year or two. for a year or two. for a year or two. Uh that gap is real money. It's not Uh that gap is real money. It's not Uh that gap is real money. It's not compounding. It's not going into the compounding. It's not going into the compounding. It's not going into the portfolio. I mean, I can quickly do the portfolio. I mean, I can quickly do the portfolio. I mean, I can quickly do the math and tell myself I easily lost 3 to math and tell myself I easily lost 3 to math and tell myself I easily lost 3 to 5,000 dollars just last year doing this. 5,000 dollars just last year doing this. 5,000 dollars just last year doing this. So, it's real, right? I've kept the So, it's real, right? I've kept the So, it's real, right? I've kept the excess because the buffer feels safe. excess because the buffer feels safe. excess because the buffer feels safe. And investing always feels like a risk. And investing always feels like a risk. And investing always feels like a risk. You know, you watch the videos about the You know, you watch the videos about the You know, you watch the videos about the AI bubble or whatever. That's the AI bubble or whatever. That's the AI bubble or whatever. That's the correct emotional response, but it's an correct emotional response, but it's an correct emotional response, but it's an incorrect financial framing. The buffer incorrect financial framing. The buffer incorrect financial framing. The buffer is safe relative to have nothing, but is safe relative to have nothing, but is safe relative to have nothing, but relative to a 3 to 6-month buffer, which relative to a 3 to 6-month buffer, which relative to a 3 to 6-month buffer, which is already safe, a 12 to 18-month buffer is already safe, a 12 to 18-month buffer is already safe, a 12 to 18-month buffer is, you know, it's a lot. It's over the is, you know, it's a lot. It's over the is, you know, it's a lot. It's over the top, basically. And it doesn't You can top, basically. And it doesn't You can top, basically. And it doesn't You can always pull money out of investments, always pull money out of investments, always pull money out of investments, right? We're not talking about spending right? We're not talking about spending right? We're not talking about spending your buffer, we're talking about your buffer, we're talking about your buffer, we're talking about investing your buffer versus keeping it investing your buffer versus keeping it investing your buffer versus keeping it in cash. The fix is very simple. You in cash. The fix is very simple. You in cash. The fix is very simple. You calculate 3 to 6 months of your specific calculate 3 to 6 months of your specific calculate 3 to 6 months of your specific living expenses in Vietnam, Thailand, living expenses in Vietnam, Thailand, living expenses in Vietnam, Thailand, Malaysia, wherever you are. It's a cute Malaysia, wherever you are. It's a cute Malaysia, wherever you are. It's a cute little kid behind me. Uh and you hold little kid behind me. Uh and you hold little kid behind me. Uh and you hold that amount in accessible accounts, that amount in accessible accounts, that amount in accessible accounts, everything else goes into the investment everything else goes into the investment everything else goes into the investment portfolio, right? Everything about it portfolio, right? Everything about it portfolio, right? Everything about it belongs in the portfolio. I promise I'm belongs in the portfolio. I promise I'm belongs in the portfolio. I promise I'm going to take my own advice on this one going to take my own advice on this one going to take my own advice on this one soon. So, review the buffer level soon. So, review the buffer level soon. So, review the buffer level annually and adjust as the burn rate annually and adjust as the burn rate annually and adjust as the burn rate changes. Do not let inertia keep excess changes. Do not let inertia keep excess changes. Do not let inertia keep excess cash sitting idle like I've done cash sitting idle like I've done cash sitting idle like I've done multiple times uh cuz ultimately the

multiple times uh cuz ultimately the multiple times uh cuz ultimately the number doesn't make up, right? This number doesn't make up, right? This number doesn't make up, right? This one's one that really hurt recently, one's one that really hurt recently, one's one that really hurt recently, underestimating the flight home budget. underestimating the flight home budget. underestimating the flight home budget. That's mistake number four. This one's That's mistake number four. This one's That's mistake number four. This one's less dramatic than the moving home for less dramatic than the moving home for less dramatic than the moving home for years at a time mistake, but it is also years at a time mistake, but it is also years at a time mistake, but it is also more universal. Expats, people who do more universal. Expats, people who do more universal. Expats, people who do seasonal nomadic stuff, winter retirees, seasonal nomadic stuff, winter retirees, seasonal nomadic stuff, winter retirees, almost every expat I've talked and met almost every expat I've talked and met almost every expat I've talked and met in the first year, especially, really in the first year, especially, really in the first year, especially, really underestimates this line item. Almost underestimates this line item. Almost underestimates this line item. Almost every first-year budget Hey, there's a every first-year budget Hey, there's a every first-year budget Hey, there's a little baby there. Blows out the flight little baby there. Blows out the flight little baby there. Blows out the flight home line, and that is the primary cause home line, and that is the primary cause home line, and that is the primary cause is just not thinking about how much it is just not thinking about how much it is just not thinking about how much it will cost. You don't think about oil will cost. You don't think about oil will cost. You don't think about oil price spikes, etc. The math seems very price spikes, etc. The math seems very price spikes, etc. The math seems very simple. Oh, whatever, it cost me 800 to simple. Oh, whatever, it cost me 800 to simple. Oh, whatever, it cost me 800 to fly over here one way. I'll be able to fly over here one way. I'll be able to fly over here one way. I'll be able to get home for 800. But if you're moving get home for 800. But if you're moving get home for 800. But if you're moving to Vietnam, to Thailand, to Malaysia, to Vietnam, to Thailand, to Malaysia, to Vietnam, to Thailand, to Malaysia, you probably will visit home once a year you probably will visit home once a year you probably will visit home once a year at first. You're going to look up a at first. You're going to look up a at first. You're going to look up a flight, see an economy round trip, it's flight, see an economy round trip, it's flight, see an economy round trip, it's going to run whatever, 900, 1,000 going to run whatever, 900, 1,000 going to run whatever, 900, 1,000 dollars. Maybe with gas prices up 1,200 dollars. Maybe with gas prices up 1,200 dollars. Maybe with gas prices up 1,200 or 1,500. This summer it cost me uh or 1,500. This summer it cost me uh or 1,500. This summer it cost me uh 3,800 for four return tickets for my 3,800 for four return tickets for my 3,800 for four return tickets for my whole family. So, almost 1,000 dollars a whole family. So, almost 1,000 dollars a whole family. So, almost 1,000 dollars a pop. You put 1,000 dollars in the pop. You put 1,000 dollars in the pop. You put 1,000 dollars in the budget, done, you don't have to think budget, done, you don't have to think budget, done, you don't have to think about it, right? But here's what that about it, right? But here's what that about it, right? But here's what that airline budget actually costs over the airline budget actually costs over the airline budget actually costs over the course of a year in practice. The 900 course of a year in practice. The 900 course of a year in practice. The 900 dollar price requires booking with dollar price requires booking with dollar price requires booking with meaningful lead time during a non-peak meaningful lead time during a non-peak meaningful lead time during a non-peak season, which most people just don't do.

season, which most people just don't do. season, which most people just don't do. My summer flights I bought in February. My summer flights I bought in February. My summer flights I bought in February. Most people do not have the flexibility Most people do not have the flexibility Most people do not have the flexibility to time every home visit that far away. to time every home visit that far away. to time every home visit that far away. Families do not give two months notice Families do not give two months notice Families do not give two months notice for things that require you to come for things that require you to come for things that require you to come home, right? There's emergencies, home, right? There's emergencies, home, right? There's emergencies, there's funerals, there's serious there's funerals, there's serious there's funerals, there's serious illnesses, there's weddings, there's illnesses, there's weddings, there's illnesses, there's weddings, there's just getting lonely and homesick and just getting lonely and homesick and just getting lonely and homesick and deciding you need to visit your kids. It deciding you need to visit your kids. It deciding you need to visit your kids. It happens, but these will frequently fall happens, but these will frequently fall happens, but these will frequently fall at expensive travel times at peak at expensive travel times at peak at expensive travel times at peak seasons. Holidays are when you get seasons. Holidays are when you get seasons. Holidays are when you get pulled at the heartstrings, pulled at the heartstrings, pulled at the heartstrings, Thanksgivings, Thanksgivings, Thanksgivings, Christmases, etc. In 18 years of expat Christmases, etc. In 18 years of expat Christmases, etc. In 18 years of expat life, I bought many short notice flights life, I bought many short notice flights life, I bought many short notice flights home because something happened, because home because something happened, because home because something happened, because I decided so stupidly to go back to I decided so stupidly to go back to I decided so stupidly to go back to Canada during winter and Christmas. The Canada during winter and Christmas. The Canada during winter and Christmas. The short notice economy price um from short notice economy price um from short notice economy price um from Bangkok to North America, not 900, it's Bangkok to North America, not 900, it's Bangkok to North America, not 900, it's going to double, easily be 1,500 or going to double, easily be 1,500 or going to double, easily be 1,500 or 1,800. Spend 2,000 or 3,000 if you're 1,800. Spend 2,000 or 3,000 if you're 1,800. Spend 2,000 or 3,000 if you're flying at a holiday depending on the flying at a holiday depending on the flying at a holiday depending on the routing from Asia to North America. I've routing from Asia to North America. I've routing from Asia to North America. I've paid more than that once flying home paid more than that once flying home paid more than that once flying home from China, you know, standing at a from China, you know, standing at a from China, you know, standing at a counter just not caring about the price counter just not caring about the price counter just not caring about the price uh because the reason I was flying home uh because the reason I was flying home uh because the reason I was flying home did not leave room to care. I was just did not leave room to care. I was just did not leave room to care. I was just worried and wanted to see someone who worried and wanted to see someone who worried and wanted to see someone who was sick. But the honest flights budget was sick. But the honest flights budget was sick. But the honest flights budget for one person who wants to plan a visit for one person who wants to plan a visit for one person who wants to plan a visit home once a year home once a year home once a year and acknowledges the reality of the cost and acknowledges the reality of the cost and acknowledges the reality of the cost going up and down, going up and down, going up and down, uh I would say 1,500 minimum, not 1,000.

uh I would say 1,500 minimum, not 1,000. uh I would say 1,500 minimum, not 1,000. If you have a partner, double that, If you have a partner, double that, If you have a partner, double that, right? If you travel home twice, add right? If you travel home twice, add right? If you travel home twice, add another 1,000. If you're like me and you another 1,000. If you're like me and you another 1,000. If you're like me and you have family members, have family members, have family members, close to $4,000. So, for us, this just close to $4,000. So, for us, this just close to $4,000. So, for us, this just becomes it's a once every 3 to 5-year becomes it's a once every 3 to 5-year becomes it's a once every 3 to 5-year trip. It is just not an annual trip. I trip. It is just not an annual trip. I trip. It is just not an annual trip. I don't have that line item in my budget, don't have that line item in my budget, don't have that line item in my budget, period. So, put the real number in your period. So, put the real number in your period. So, put the real number in your budget before you leave, not an budget before you leave, not an budget before you leave, not an optimistic number. The real number optimistic number. The real number optimistic number. The real number including the probability that that one including the probability that that one including the probability that that one trip per year will be unplanned and trip per year will be unplanned and trip per year will be unplanned and expensive. Uh the people who get this expensive. Uh the people who get this expensive. Uh the people who get this right are the people who are going to right are the people who are going to right are the people who are going to plan honestly. The people who blow their plan honestly. The people who blow their plan honestly. The people who blow their first year budget are overwhelmingly the first year budget are overwhelmingly the first year budget are overwhelmingly the people who plan optimistically, think people who plan optimistically, think people who plan optimistically, think they won't go home, think they're going they won't go home, think they're going they won't go home, think they're going to be traveling nonstop. Last one, to be traveling nonstop. Last one, to be traveling nonstop. Last one, mistake five, lifestyle inflation over mistake five, lifestyle inflation over mistake five, lifestyle inflation over year one. Southeast Asia has a very year one. Southeast Asia has a very year one. Southeast Asia has a very specific trap. I didn't fully see it specific trap. I didn't fully see it specific trap. I didn't fully see it coming even after years of expat coming even after years of expat coming even after years of expat experience in other countries. Um experience in other countries. Um experience in other countries. Um because you don't think about it. You because you don't think about it. You because you don't think about it. You can start hanging out and living the can start hanging out and living the can start hanging out and living the life of a rich person, right? Living life of a rich person, right? Living life of a rich person, right? Living like a king because the mechanism is like a king because the mechanism is like a king because the mechanism is subtler here than anywhere else I've subtler here than anywhere else I've subtler here than anywhere else I've lived. And if you watch the spending lived. And if you watch the spending lived. And if you watch the spending week video where I went through week video where I went through week video where I went through everything it cost, you already saw what everything it cost, you already saw what everything it cost, you already saw what a disciplined version of living like a a disciplined version of living like a a disciplined version of living like a local, spending in the local market, you local, spending in the local market, you local, spending in the local market, you know, $2 bowls of noodles, $40 for a know, $2 bowls of noodles, $40 for a know, $2 bowls of noodles, $40 for a motorbike. This is the story of how motorbike. This is the story of how motorbike. This is the story of how easily that discipline never gets easily that discipline never gets easily that discipline never gets established in the first place, right?

established in the first place, right? established in the first place, right? The trap is this, things that are The trap is this, things that are The trap is this, things that are expensive relative expensive relative expensive relative in Southeast Asia in Southeast Asia in Southeast Asia are generally things that are imported, are generally things that are imported, are generally things that are imported, right? And they're often still right? And they're often still right? And they're often still inexpensive relative to where you came inexpensive relative to where you came inexpensive relative to where you came from. So, your brain still thinks you're from. So, your brain still thinks you're from. So, your brain still thinks you're like {quote} "saving," but you're like {quote} "saving," but you're like {quote} "saving," but you're actually getting totally ripped off actually getting totally ripped off actually getting totally ripped off because you haven't calibrated your because you haven't calibrated your because you haven't calibrated your value against the US dollar, the pound, value against the US dollar, the pound, value against the US dollar, the pound, the Oz dollar, right? You just think, the Oz dollar, right? You just think, the Oz dollar, right? You just think, "Oh, this is great. This is a buck. This "Oh, this is great. This is a buck. This "Oh, this is great. This is a buck. This is two bucks. This is whatever. Your is two bucks. This is whatever. Your is two bucks. This is whatever. Your brain is not recalibrated to local brain is not recalibrated to local brain is not recalibrated to local prices, local value. It's recalibrating prices, local value. It's recalibrating prices, local value. It's recalibrating against prices back home. Many people do against prices back home. Many people do against prices back home. Many people do this for years at a time where they just this for years at a time where they just this for years at a time where they just think do do do do. Oh, it costs eight think do do do do. Oh, it costs eight think do do do do. Oh, it costs eight Aussie dollars. Great, it's a deal. Oh, Aussie dollars. Great, it's a deal. Oh, Aussie dollars. Great, it's a deal. Oh, it costs 12 US dollars. Great, it's a it costs 12 US dollars. Great, it's a it costs 12 US dollars. Great, it's a deal. Right? But you're actually deal. Right? But you're actually deal. Right? But you're actually spending more money than you should be spending more money than you should be spending more money than you should be spending based on local value and what spending based on local value and what spending based on local value and what the purchasing prices are. So, the the purchasing prices are. So, the the purchasing prices are. So, the Western supermarket here can feel like a Western supermarket here can feel like a Western supermarket here can feel like a bargain relative to supermarket home. bargain relative to supermarket home. bargain relative to supermarket home. The imported products cost half what The imported products cost half what The imported products cost half what they cost at home, even though they cost they cost at home, even though they cost they cost at home, even though they cost literally like five to 10 times what you literally like five to 10 times what you literally like five to 10 times what you can get at the local market. A great can get at the local market. A great can get at the local market. A great example is just like a mango, right? At example is just like a mango, right? At example is just like a mango, right? At home maybe your mango costs three to home maybe your mango costs three to home maybe your mango costs three to five bucks. Here at the Western five bucks. Here at the Western five bucks. Here at the Western supermarket it costs one buck. But if supermarket it costs one buck. But if supermarket it costs one buck. But if you went into a local market, you're you went into a local market, you're you went into a local market, you're getting the same [ __ ] mango for 20 getting the same [ __ ] mango for 20 getting the same [ __ ] mango for 20 cents. The banana cost. Another good cents. The banana cost. Another good cents. The banana cost. Another good test is called like the banana price test is called like the banana price test is called like the banana price cost. Test the cost of a banana. Well, cost. Test the cost of a banana. Well, cost. Test the cost of a banana. Well, the cost versus New York versus a the cost versus New York versus a the cost versus New York versus a Western grocery store versus local Western grocery store versus local Western grocery store versus local market here. Each time it's exponential.

market here. Each time it's exponential. market here. Each time it's exponential. The expat restaurant that feels like The expat restaurant that feels like The expat restaurant that feels like value because the bill is smaller than value because the bill is smaller than value because the bill is smaller than you're used to at home, even though you you're used to at home, even though you you're used to at home, even though you could eat well for like a fifth of that could eat well for like a fifth of that could eat well for like a fifth of that cost, you know, i.e. paying $10 for a cost, you know, i.e. paying $10 for a cost, you know, i.e. paying $10 for a large pizza in Vietnam seems like a large pizza in Vietnam seems like a large pizza in Vietnam seems like a great deal compared to back home, but great deal compared to back home, but great deal compared to back home, but not when you can get a full meal for two not when you can get a full meal for two not when you can get a full meal for two bucks, right? The regional flight to bucks, right? The regional flight to bucks, right? The regional flight to Bali that feels practically free cuz Bali that feels practically free cuz Bali that feels practically free cuz it's $100 each against the price of an it's $100 each against the price of an it's $100 each against the price of an intercontinental ticket, right? intercontinental ticket, right? intercontinental ticket, right? Even though you're doing it every six Even though you're doing it every six Even though you're doing it every six weeks, that's what inflates my budget weeks, that's what inflates my budget weeks, that's what inflates my budget from 1,200 to 1,800 a month. Whenever from 1,200 to 1,800 a month. Whenever from 1,200 to 1,800 a month. Whenever I'm spending 1,800 it's because I'm I'm spending 1,800 it's because I'm I'm spending 1,800 it's because I'm doing regional travel within Vietnam, doing regional travel within Vietnam, doing regional travel within Vietnam, within Thailand, within Malaysia, within within Thailand, within Malaysia, within within Thailand, within Malaysia, within Bali, whatever, right? Those mechanisms Bali, whatever, right? Those mechanisms Bali, whatever, right? Those mechanisms ultimately compound. Each choice that ultimately compound. Each choice that ultimately compound. Each choice that feels like a bargain because of the home feels like a bargain because of the home feels like a bargain because of the home country comparison sets a habit. Those country comparison sets a habit. Those country comparison sets a habit. Those habits in the first year are the ones habits in the first year are the ones habits in the first year are the ones you carry forward that turn into you carry forward that turn into you carry forward that turn into lifestyle inflation. They cannot be lifestyle inflation. They cannot be lifestyle inflation. They cannot be corrected later without serious corrected later without serious corrected later without serious struggle. It is hard to rewire your struggle. It is hard to rewire your struggle. It is hard to rewire your brain. brain. brain. Um Um Um it's much better to establish the right it's much better to establish the right it's much better to establish the right money habits, the right spending habits money habits, the right spending habits money habits, the right spending habits from the start. So, the specific math from the start. So, the specific math from the start. So, the specific math that makes this visceral, if you drift that makes this visceral, if you drift that makes this visceral, if you drift 500 per month above your target Vietnam 500 per month above your target Vietnam 500 per month above your target Vietnam budget, i.e. if you go from 1,300 to budget, i.e. if you go from 1,300 to budget, i.e. if you go from 1,300 to 1,800, which happens easily through a 1,800, which happens easily through a 1,800, which happens easily through a combination of Western groceries, combination of Western groceries, combination of Western groceries, imported item, expat restaurants, imported item, expat restaurants, imported item, expat restaurants, regular regional travel, drinking at regular regional travel, drinking at regular regional travel, drinking at bars and cocktails, well, 500 months bars and cocktails, well, 500 months bars and cocktails, well, 500 months turns into 6,000 USD per year above the turns into 6,000 USD per year above the turns into 6,000 USD per year above the plan. I thought 4% withdrawal rate rule, plan. I thought 4% withdrawal rate rule, plan. I thought 4% withdrawal rate rule, you know, the classic FIRE number, every

you know, the classic FIRE number, every you know, the classic FIRE number, every 6,000 of additional annual spend 6,000 of additional annual spend 6,000 of additional annual spend literally requires an additional 150,000 literally requires an additional 150,000 literally requires an additional 150,000 dollars in your portfolio. That's dollars in your portfolio. That's dollars in your portfolio. That's basically my whole portfolio there, so basically my whole portfolio there, so basically my whole portfolio there, so I'd be SOL, right? Indefinitely, cannot I'd be SOL, right? Indefinitely, cannot I'd be SOL, right? Indefinitely, cannot sustain it. The comfortable habits cost sustain it. The comfortable habits cost sustain it. The comfortable habits cost 150k in portfolio terms, think about 150k in portfolio terms, think about 150k in portfolio terms, think about that. Or think about it in terms of if that. Or think about it in terms of if that. Or think about it in terms of if you're on a fixed income, right? That's you're on a fixed income, right? That's you're on a fixed income, right? That's easily two to three months of your easily two to three months of your easily two to three months of your social security. $500 of drift per month social security. $500 of drift per month social security. $500 of drift per month can screw you over. The fix is very can screw you over. The fix is very can screw you over. The fix is very straightforward, but requires the straightforward, but requires the straightforward, but requires the discipline to apply it before you arrive discipline to apply it before you arrive discipline to apply it before you arrive or when you first arrive and set habit. or when you first arrive and set habit. or when you first arrive and set habit. Set your monthly budget in the first 30 Set your monthly budget in the first 30 Set your monthly budget in the first 30 days, right? Not a general intention. I days, right? Not a general intention. I days, right? Not a general intention. I have a first 30-day checklist. I can put have a first 30-day checklist. I can put have a first 30-day checklist. I can put that below in this video. Use a specific that below in this video. Use a specific that below in this video. Use a specific number, track every purchase for the number, track every purchase for the number, track every purchase for the first six months against that number, first six months against that number, first six months against that number, review it monthly, review it monthly, review it monthly, be honest about what you see, where be honest about what you see, where be honest about what you see, where you're spending over what you planned. you're spending over what you planned. you're spending over what you planned. The first six months, 180 days, your The first six months, 180 days, your The first six months, 180 days, your first two 90-day visas, that's one year first two 90-day visas, that's one year first two 90-day visas, that's one year you're going to set your habits. After you're going to set your habits. After you're going to set your habits. After that, the habits will start to run on that, the habits will start to run on that, the habits will start to run on autopilot, and the autopilot's either autopilot, and the autopilot's either autopilot, and the autopilot's either working for you or against you. Because working for you or against you. Because working for you or against you. Because I had plenty of like months and years I had plenty of like months and years I had plenty of like months and years where I lived on $500 a month, it is so where I lived on $500 a month, it is so where I lived on $500 a month, it is so easy now for me to live on 12 or 1,800.

easy now for me to live on 12 or 1,800. easy now for me to live on 12 or 1,800. You know, the local food's better, the You know, the local food's better, the You know, the local food's better, the local market is better, my motorbike is local market is better, my motorbike is local market is better, my motorbike is faster, you know, running outside in the faster, you know, running outside in the faster, you know, running outside in the park rather than going to an expensive park rather than going to an expensive park rather than going to an expensive gym. The life availability here at 12 to gym. The life availability here at 12 to gym. The life availability here at 12 to 1500 a month in this city in Ho Chi Minh 1500 a month in this city in Ho Chi Minh 1500 a month in this city in Ho Chi Minh is not a compromise. It's the equivalent is not a compromise. It's the equivalent is not a compromise. It's the equivalent easily of five or 5,000, 7,000 even back easily of five or 5,000, 7,000 even back easily of five or 5,000, 7,000 even back home depending on your city. And the home depending on your city. And the home depending on your city. And the 2200 a month expat life 2200 a month expat life 2200 a month expat life it's not really a better version, right? it's not really a better version, right? it's not really a better version, right? You just have to arrive with the You just have to arrive with the You just have to arrive with the understanding installed of what you're understanding installed of what you're understanding installed of what you're going to spend. You're not going to feel going to spend. You're not going to feel going to spend. You're not going to feel richer if you spend that extra 500 a richer if you spend that extra 500 a richer if you spend that extra 500 a month. You won't even notice the month. You won't even notice the month. You won't even notice the difference, honestly. The expensive difference, honestly. The expensive difference, honestly. The expensive things that are going to feel like things that are going to feel like things that are going to feel like bargains, that are going to feel cheap, bargains, that are going to feel cheap, bargains, that are going to feel cheap, that's what's going to screw you over. that's what's going to screw you over. that's what's going to screw you over. The first year brain, the default mode The first year brain, the default mode The first year brain, the default mode is wrong. You got to set it and then is wrong. You got to set it and then is wrong. You got to set it and then forget it. That's the wrap. Five forget it. That's the wrap. Five forget it. That's the wrap. Five mistakes, all recoverable to varying mistakes, all recoverable to varying mistakes, all recoverable to varying degrees. The rate timing can stop today. degrees. The rate timing can stop today. degrees. The rate timing can stop today. The access buffer can be deployed today The access buffer can be deployed today The access buffer can be deployed today into investments. The flight budgets can into investments. The flight budgets can into investments. The flight budgets can be fixed by scheduling, planning, and be fixed by scheduling, planning, and be fixed by scheduling, planning, and buying in advance. And the lifestyle buying in advance. And the lifestyle buying in advance. And the lifestyle drift can be corrected in the first drift can be corrected in the first drift can be corrected in the first three to six months if you catch it three to six months if you catch it three to six months if you catch it early and have a real legitimate budget.

early and have a real legitimate budget. early and have a real legitimate budget. The one that is hardest to recover from The one that is hardest to recover from The one that is hardest to recover from is the going back home mistake. It's the is the going back home mistake. It's the is the going back home mistake. It's the not being committed mistake, the not being committed mistake, the not being committed mistake, the procrastinating for years mistake. Not procrastinating for years mistake. Not procrastinating for years mistake. Not because two years or three years at home because two years or three years at home because two years or three years at home is irreversible, but the damage is done is irreversible, but the damage is done is irreversible, but the damage is done and the path forward is clear. There is and the path forward is clear. There is and the path forward is clear. There is a real cost of waiting and knowing and a real cost of waiting and knowing and a real cost of waiting and knowing and not claiming a better cost of living not claiming a better cost of living not claiming a better cost of living abroad that's going to accumulate and abroad that's going to accumulate and abroad that's going to accumulate and cost you years where you cannot reach cost you years where you cannot reach cost you years where you cannot reach back. You cannot turn the clock back. back. You cannot turn the clock back. back. You cannot turn the clock back. So, the compounding, the better quality So, the compounding, the better quality So, the compounding, the better quality of life that you missed, you ultimately of life that you missed, you ultimately of life that you missed, you ultimately are just going to be starting at a later are just going to be starting at a later are just going to be starting at a later date. That's it. If you have your own date. That's it. If you have your own date. That's it. If you have your own version of that Koh Tao call, the version of that Koh Tao call, the version of that Koh Tao call, the experience, a decision you already know experience, a decision you already know experience, a decision you already know the answer to and have not yet made, the the answer to and have not yet made, the the answer to and have not yet made, the cost of not making it ultimately is cost of not making it ultimately is cost of not making it ultimately is accumulating right now as long as you accumulating right now as long as you accumulating right now as long as you keep procrastinating, right? That is the keep procrastinating, right? That is the keep procrastinating, right? That is the one mistake with no technical fix to it. one mistake with no technical fix to it. one mistake with no technical fix to it. The only fix is the decision. Obviously, The only fix is the decision. Obviously, The only fix is the decision. Obviously, my membership cost of living abroad.com my membership cost of living abroad.com my membership cost of living abroad.com is where I see these mistakes and I help is where I see these mistakes and I help is where I see these mistakes and I help people catch them before they compound. people catch them before they compound. people catch them before they compound. We have the budget conversations, the We have the budget conversations, the We have the budget conversations, the planning conversations, put real action planning conversations, put real action planning conversations, put real action steps in place, and create a real steps in place, and create a real steps in place, and create a real 12-month timeline. So, you don't have to 12-month timeline. So, you don't have to 12-month timeline. So, you don't have to worry about exchange rate, lifestyle worry about exchange rate, lifestyle worry about exchange rate, lifestyle drift, etc. It's where I have real drift, etc. It's where I have real drift, etc. It's where I have real situations, real numbers, real people.

situations, real numbers, real people. situations, real numbers, real people. We get on live calls. You get access to We get on live calls. You get access to We get on live calls. You get access to all of the archives if you join now. all of the archives if you join now. all of the archives if you join now. Thank you so much for watching. You know Thank you so much for watching. You know Thank you so much for watching. You know where my help is if you want it. It's where my help is if you want it. It's where my help is if you want it. It's linked below. You watch this video on linked below. You watch this video on linked below. You watch this video on the real reasons I left home or this the real reasons I left home or this the real reasons I left home or this video on exactly what I spend in a week. video on exactly what I spend in a week. video on exactly what I spend in a week. Thanks so much. I'm having a retired Thanks so much. I'm having a retired Thanks so much. I'm having a retired early in Vietnam.