I Asked 10 Expats How Much They Saved to Move Abroad... Here's How Much It Costs to Retire Abroad

How much money do you actually need to How much money do you actually need to move abroad? This is the single most move abroad? This is the single most move abroad? This is the single most common question I get when I do common question I get when I do common question I get when I do consultations, when I do calls, when I consultations, when I do calls, when I consultations, when I do calls, when I do my live streams. I've spent a lot of do my live streams. I've spent a lot of do my live streams. I've spent a lot of videos lately answering it with my own videos lately answering it with my own videos lately answering it with my own numbers. I've talked about my portfolio, numbers. I've talked about my portfolio, numbers. I've talked about my portfolio, my income streams, I've talked about my my income streams, I've talked about my my income streams, I've talked about my burn rate, my savings rate, but burn rate, my savings rate, but burn rate, my savings rate, but ultimately every time I do, somebody ultimately every time I do, somebody ultimately every time I do, somebody points out, fairly I would say, that I'm points out, fairly I would say, that I'm points out, fairly I would say, that I'm one person, it's not universal, right? one person, it's not universal, right? one person, it's not universal, right? I'm just one data out of point, so my I'm just one data out of point, so my I'm just one data out of point, so my number doesn't tell you whether your number doesn't tell you whether your number doesn't tell you whether your number works. People ask me everything, number works. People ask me everything, number works. People ask me everything, you know, will I be cool with a half you know, will I be cool with a half you know, will I be cool with a half million dollars? Will I be cool with million dollars? Will I be cool with million dollars? Will I be cool with 10,000 bucks? Will I be cool with 2,000 10,000 bucks? Will I be cool with 2,000 10,000 bucks? Will I be cool with 2,000 dollars? All over the place, and dollars? All over the place, and dollars? All over the place, and ultimately everyone has a different ultimately everyone has a different ultimately everyone has a different request, a different number, so today request, a different number, so today request, a different number, so today I did something about it. I did something about it. I did something about it. I gathered up the data. I went to a I gathered up the data. I went to a I gathered up the data. I went to a bunch of people I knew. I've done bunch of people I knew. I've done bunch of people I knew. I've done interviews for the last year and a half interviews for the last year and a half interviews for the last year and a half with about 50 or 60 different expats, with about 50 or 60 different expats, with about 50 or 60 different expats, right? I have people in the community. right? I have people in the community. right? I have people in the community. I've opened it up to the live streams.

I've opened it up to the live streams. I've opened it up to the live streams. The ones I've met over basically 17 The ones I've met over basically 17 The ones I've met over basically 17 years of living abroad, the long-termers years of living abroad, the long-termers years of living abroad, the long-termers who actually made the jump and stayed, who actually made the jump and stayed, who actually made the jump and stayed, and I basically just asked everyone the and I basically just asked everyone the and I basically just asked everyone the same question in a really direct way, same question in a really direct way, same question in a really direct way, which was very simple, right? How much which was very simple, right? How much which was very simple, right? How much had you actually save when you left had you actually save when you left had you actually save when you left home, when you left America? And then I home, when you left America? And then I home, when you left America? And then I did the more important one, the real did the more important one, the real did the more important one, the real follow-up question, which was looking follow-up question, which was looking follow-up question, which was looking back now, was it enough money? Was it back now, was it enough money? Was it back now, was it enough money? Was it too little money? Or did you actually too little money? Or did you actually too little money? Or did you actually wait too long? Could you have gone wait too long? Could you have gone wait too long? Could you have gone earlier? 10 people, 10 totally different earlier? 10 people, 10 totally different earlier? 10 people, 10 totally different answers. They're real people, but I've answers. They're real people, but I've answers. They're real people, but I've changed some of the identifying details changed some of the identifying details changed some of the identifying details for privacy, for members, for friends for privacy, for members, for friends for privacy, for members, for friends who aren't interested in being on my who aren't interested in being on my who aren't interested in being on my YouTube channel, uh but the numbers and YouTube channel, uh but the numbers and YouTube channel, uh but the numbers and the stories in this video, I promise, the stories in this video, I promise, the stories in this video, I promise, are real, and I want to talk you through are real, and I want to talk you through are real, and I want to talk you through all 10 of these different scenarios all 10 of these different scenarios all 10 of these different scenarios today, because the thing they taught me, today, because the thing they taught me, today, because the thing they taught me, ultimately taken together, is more ultimately taken together, is more ultimately taken together, is more useful than any one single number or useful than any one single number or useful than any one single number or data point like you, right? There is no data point like you, right? There is no data point like you, right? There is no magic figure. There isn't the right magic figure. There isn't the right magic figure. There isn't the right amount of money. What there is basically amount of money. What there is basically amount of money. What there is basically is a set of factors that determine is a set of factors that determine is a set of factors that determine whether the number will work for you, whether the number will work for you, whether the number will work for you, for each individual. And by the end of for each individual. And by the end of for each individual. And by the end of this video, I'm hoping you're going to this video, I'm hoping you're going to this video, I'm hoping you're going to understand those factors better than you understand those factors better than you understand those factors better than you understand them from any retirement understand them from any retirement understand them from any retirement calculator, from any set number, from calculator, from any set number, from calculator, from any set number, from any budget expense, or single video. So, any budget expense, or single video. So, any budget expense, or single video. So, a warning though, I'm not going to give a warning though, I'm not going to give a warning though, I'm not going to give you 10 triumphant success stories.

you 10 triumphant success stories. you 10 triumphant success stories. People get it wrong. They screw it up. People get it wrong. They screw it up. People get it wrong. They screw it up. And some of these people did that. Some And some of these people did that. Some And some of these people did that. Some of these people got it wrong, right? One of these people got it wrong, right? One of these people got it wrong, right? One of them had to go home. I went home for of them had to go home. I went home for of them had to go home. I went home for a couple years along the way. One of a couple years along the way. One of a couple years along the way. One of them waited so long that he's still, them waited so long that he's still, them waited so long that he's still, honestly, a little angry about it, I honestly, a little angry about it, I honestly, a little angry about it, I think. Um so, the range of details, the think. Um so, the range of details, the think. Um so, the range of details, the range of numbers is really what this range of numbers is really what this range of numbers is really what this video, hopefully, will give to you. So, video, hopefully, will give to you. So, video, hopefully, will give to you. So, let's get started. The first one, let's get started. The first one, let's get started. The first one, someone will call this the the someone will call this the the someone will call this the the minimalist approach. He left with about minimalist approach. He left with about minimalist approach. He left with about 34-year-old here, single, no dependents. By every here, single, no dependents. By every conventional retirement metric, that is conventional retirement metric, that is conventional retirement metric, that is nowhere near enough money to retire on. nowhere near enough money to retire on. nowhere near enough money to retire on. And he didn't exactly retire, right? And he didn't exactly retire, right? And he didn't exactly retire, right? That's the key. He moved abroad with That's the key. He moved abroad with That's the key. He moved abroad with $40,000 $40,000 $40,000 as a runway, um and a slow online income as a runway, um and a slow online income as a runway, um and a slow online income he's building. This is exactly the kind he's building. This is exactly the kind he's building. This is exactly the kind of thing I recommend to my members. The of thing I recommend to my members. The of thing I recommend to my members. The 40,000 is never supposed to fund the 40,000 is never supposed to fund the 40,000 is never supposed to fund the rest of your life forever. You're not rest of your life forever. You're not rest of your life forever. You're not going to be idle or lazy, right? It's going to be idle or lazy, right? It's going to be idle or lazy, right? It's just meant to buy you 18 months or 2 just meant to buy you 18 months or 2 just meant to buy you 18 months or 2 years to make your online thing or your years to make your online thing or your years to make your online thing or your teaching thing or whatever work without teaching thing or whatever work without teaching thing or whatever work without having to panic, without having to having to panic, without having to having to panic, without having to stress about money. And it did work for stress about money. And it did work for stress about money. And it did work for this guy, but in his case, uh barely. It this guy, but in his case, uh barely. It this guy, but in his case, uh barely. It was close. So, he told me the first year was close. So, he told me the first year was close. So, he told me the first year was genuinely stressful for him, was genuinely stressful for him, was genuinely stressful for him, watching the runway sink when he didn't watching the runway sink when he didn't watching the runway sink when he didn't have any real income, right? The income have any real income, right? The income have any real income, right? The income was still too small to pay for his burn was still too small to pay for his burn was still too small to pay for his burn rate. But the low Thailand burn rate he rate. But the low Thailand burn rate he rate. But the low Thailand burn rate he had meant $40,000 stretched far enough had meant $40,000 stretched far enough had meant $40,000 stretched far enough to give him the time he needed to become to give him the time he needed to become to give him the time he needed to become successful. So, he's now 4 years in. Uh

successful. So, he's now 4 years in. Uh successful. So, he's now 4 years in. Uh he's moved from Thailand to Vietnam and he's moved from Thailand to Vietnam and he's moved from Thailand to Vietnam and he's living a pretty comfortable life, I he's living a pretty comfortable life, I he's living a pretty comfortable life, I would say, in Da Nang. His verdict is it would say, in Da Nang. His verdict is it would say, in Da Nang. His verdict is it worked for him, but he wouldn't worked for him, but he wouldn't worked for him, but he wouldn't recommend cutting it that fine. So, for recommend cutting it that fine. So, for recommend cutting it that fine. So, for him, basically, he started with $40,000 him, basically, he started with $40,000 him, basically, he started with $40,000 and the number was going straight down and the number was going straight down and the number was going straight down at first cuz he had zero income. The at first cuz he had zero income. The at first cuz he had zero income. The stress wasn't worth the 18 months he stress wasn't worth the 18 months he stress wasn't worth the 18 months he saved by not waiting. Which, if you do saved by not waiting. Which, if you do saved by not waiting. Which, if you do the quick math on it, it means he had a the quick math on it, it means he had a the quick math on it, it means he had a budget of budget of budget of a little over $2,000 a month. I think a little over $2,000 a month. I think a little over $2,000 a month. I think it's 2,200 a month. If you do like 18 * it's 2,200 a month. If you do like 18 * it's 2,200 a month. If you do like 18 * 2,200, you get about 40,000. So, he was 2,200, you get about 40,000. So, he was 2,200, you get about 40,000. So, he was living off 2,200 a month building an living off 2,200 a month building an living off 2,200 a month building an income um and not waiting until he had income um and not waiting until he had income um and not waiting until he had an income to go. Number two, very an income to go. Number two, very an income to go. Number two, very different scenario here. different scenario here. different scenario here. This is the over-waiter, the This is the over-waiter, the This is the over-waiter, the procrastinator, we will call them. I procrastinator, we will call them. I procrastinator, we will call them. I talked to a lot of people like this. So, talked to a lot of people like this. So, talked to a lot of people like this. So, $620,000 $620,000 $620,000 um from a house sale. This is, again, um from a house sale. This is, again, um from a house sale. This is, again, not enough money realistically to retire not enough money realistically to retire not enough money realistically to retire on at home, right? You can't retire on on at home, right? You can't retire on on at home, right? You can't retire on 600 grand in the US, in Canada, 600 grand in the US, in Canada, 600 grand in the US, in Canada, wherever. So, 58-year-old guy. Thing he wherever. So, 58-year-old guy. Thing he wherever. So, 58-year-old guy. Thing he wanted me to tell you, to convey to the wanted me to tell you, to convey to the wanted me to tell you, to convey to the audience more than anything, is that he audience more than anything, is that he audience more than anything, is that he straight-up wishes he'd left a decade straight-up wishes he'd left a decade straight-up wishes he'd left a decade earlier. He wishes he'd done this at 48.

earlier. He wishes he'd done this at 48. earlier. He wishes he'd done this at 48. For him, the big mistake is he cost For him, the big mistake is he cost For him, the big mistake is he cost himself 10 years of his life. He had himself 10 years of his life. He had himself 10 years of his life. He had enough to move comfortably in his late enough to move comfortably in his late enough to move comfortably in his late 40s. He felt it, he probably knew it. 40s. He felt it, he probably knew it. 40s. He felt it, he probably knew it. He'd been to Thailand multiple times. He He'd been to Thailand multiple times. He He'd been to Thailand multiple times. He ran the numbers more than once, but he ran the numbers more than once, but he ran the numbers more than once, but he kept finding reasons to wait, basically. kept finding reasons to wait, basically. kept finding reasons to wait, basically. You know, one more promotion, one more You know, one more promotion, one more You know, one more promotion, one more year of savings, his kids' situation, uh year of savings, his kids' situation, uh year of savings, his kids' situation, uh you know, waiting to be a proper empty you know, waiting to be a proper empty you know, waiting to be a proper empty nester, timing the market, all that nester, timing the market, all that nester, timing the market, all that So, he stacked up, basically, So, he stacked up, basically, So, he stacked up, basically, reason after reason, and the reasons reason after reason, and the reasons reason after reason, and the reasons were all individually sensible, and were all individually sensible, and were all individually sensible, and collectively, they cost him a decade of collectively, they cost him a decade of collectively, they cost him a decade of high quality of life living with good high quality of life living with good high quality of life living with good health in Southeast Asia. So, the life health in Southeast Asia. So, the life health in Southeast Asia. So, the life he's living now, he loves. Uh he's not he's living now, he loves. Uh he's not he's living now, he loves. Uh he's not short of money. He's in somewhere in short of money. He's in somewhere in short of money. He's in somewhere in Southern Thailand, I won't tell you, but Southern Thailand, I won't tell you, but Southern Thailand, I won't tell you, but he has more than what he needs. What he has more than what he needs. What he has more than what he needs. What he's short of though is the 10 years he he's short of though is the 10 years he he's short of though is the 10 years he can't get back. So, this is someone who can't get back. So, this is someone who can't get back. So, this is someone who sold a house in the States for over half sold a house in the States for over half sold a house in the States for over half million dollars and is able to buy a million dollars and is able to buy a million dollars and is able to buy a very affordable older built condo in very affordable older built condo in very affordable older built condo in Thailand for under a hundred thousand Thailand for under a hundred thousand Thailand for under a hundred thousand dollars and then live off that four dollars and then live off that four dollars and then live off that four hundred thousand dollars in between. He hundred thousand dollars in between. He hundred thousand dollars in between. He has no [clears throat] income other than has no [clears throat] income other than has no [clears throat] income other than his investment portfolio. So, when I his investment portfolio. So, when I his investment portfolio. So, when I asked him what specifically kept him in asked him what specifically kept him in asked him what specifically kept him in place, his answer really stuck with me.

place, his answer really stuck with me. place, his answer really stuck with me. He basically said it was never one He basically said it was never one He basically said it was never one single fear. There wasn't a single single fear. There wasn't a single single fear. There wasn't a single question. It was a hundred small things, question. It was a hundred small things, question. It was a hundred small things, right? It was death by a thousand paper right? It was death by a thousand paper right? It was death by a thousand paper cuts. Each easy to rationalize every cuts. Each easy to rationalize every cuts. Each easy to rationalize every day, right? The promotion that was day, right? The promotion that was day, right? The promotion that was almost certain that he would get, almost certain that he would get, almost certain that he would get, um the vesting schedule that was almost um the vesting schedule that was almost um the vesting schedule that was almost complete, the renovation that would complete, the renovation that would complete, the renovation that would raise the resale value of his house, you raise the resale value of his house, you raise the resale value of his house, you know, every single delay had a know, every single delay had a know, every single delay had a justifiable number in his spreadsheet justifiable number in his spreadsheet justifiable number in his spreadsheet behind it that said waiting was the behind it that said waiting was the behind it that said waiting was the correct and optimal financial move for correct and optimal financial move for correct and optimal financial move for him. And on a pure spreadsheet basis, he him. And on a pure spreadsheet basis, he him. And on a pure spreadsheet basis, he was probably right. He was usually was probably right. He was usually was probably right. He was usually right. But his numbers, his right. But his numbers, his right. But his numbers, his spreadsheets, all his calculations never spreadsheets, all his calculations never spreadsheets, all his calculations never priced in the value of the years priced in the value of the years priced in the value of the years themselves, right? So, basically told me themselves, right? So, basically told me themselves, right? So, basically told me straight up uh he was jealous of me for straight up uh he was jealous of me for straight up uh he was jealous of me for having pulled the trigger earlier than having pulled the trigger earlier than having pulled the trigger earlier than he did. And then in hindsight, there was he did. And then in hindsight, there was he did. And then in hindsight, there was no reason for him not to, you know. He no reason for him not to, you know. He no reason for him not to, you know. He was divorced the whole time, so he was divorced the whole time, so he was divorced the whole time, so he wasn't like he didn't have the kids at wasn't like he didn't have the kids at wasn't like he didn't have the kids at his house seven days a week anyways. But his house seven days a week anyways. But his house seven days a week anyways. But the health by 48 that he ultimately the health by 48 that he ultimately the health by 48 that he ultimately didn't have at 58, the energy, the didn't have at 58, the energy, the didn't have at 58, the energy, the amount of excitement to travel, to get amount of excitement to travel, to get amount of excitement to travel, to get around, the simple number of good around, the simple number of good around, the simple number of good mornings remaining on the beach in mornings remaining on the beach in mornings remaining on the beach in Thailand. His verdict, almost word for Thailand. His verdict, almost word for Thailand. His verdict, almost word for word, was that the money was never the word, was that the money was never the word, was that the money was never the problem. For him, it was the waiting problem. For him, it was the waiting problem. For him, it was the waiting that was the problem in hindsight. And that was the problem in hindsight. And that was the problem in hindsight. And of course, like pretty much everyone, of course, like pretty much everyone, of course, like pretty much everyone, extremely happy now that he has made the extremely happy now that he has made the extremely happy now that he has made the decision. So, that's a theme you're decision. So, that's a theme you're decision. So, that's a theme you're going to hear more than once in these 10 going to hear more than once in these 10 going to hear more than once in these 10 stories. And if it sounds familiar, stories. And if it sounds familiar, stories. And if it sounds familiar, uh it's because it's a version of my own uh it's because it's a version of my own uh it's because it's a version of my own story, too, right? I went back to Canada

story, too, right? I went back to Canada story, too, right? I went back to Canada for a few years, worked a couple years for a few years, worked a couple years for a few years, worked a couple years as a public school teacher after I'd as a public school teacher after I'd as a public school teacher after I'd already been gone for almost a decade. already been gone for almost a decade. already been gone for almost a decade. Uh the decision some of you will Uh the decision some of you will Uh the decision some of you will probably already know the answer to is probably already know the answer to is probably already know the answer to is that I deferred a few years of living that I deferred a few years of living that I deferred a few years of living like this for reasons that felt like this for reasons that felt like this for reasons that felt responsible, felt like the right thing responsible, felt like the right thing responsible, felt like the right thing to do, and just ultimately turned out to to do, and just ultimately turned out to to do, and just ultimately turned out to be expensive and to be preventative. be expensive and to be preventative. be expensive and to be preventative. Number three, we're going to call this Number three, we're going to call this Number three, we're going to call this person the pension bridger. So, I've person the pension bridger. So, I've person the pension bridger. So, I've interviewed a couple people like this, interviewed a couple people like this, interviewed a couple people like this, but this guy had 90,000 in savings, but this guy had 90,000 in savings, but this guy had 90,000 in savings, which on its own would be very, very which on its own would be very, very which on its own would be very, very tight. I would not recommend tight. I would not recommend tight. I would not recommend [clears throat] trying to do that for [clears throat] trying to do that for [clears throat] trying to do that for the rest of your life. He was a bit the rest of your life. He was a bit the rest of your life. He was a bit older, though. He was in his 60s, but he older, though. He was in his 60s, but he older, though. He was in his 60s, but he had a modest pension, a very small one. had a modest pension, a very small one. had a modest pension, a very small one. So, he had a few hundred dollars a month So, he had a few hundred dollars a month So, he had a few hundred dollars a month coming in, you know, roughly what you coming in, you know, roughly what you coming in, you know, roughly what you get from Canada CPP if you're Canadians, get from Canada CPP if you're Canadians, get from Canada CPP if you're Canadians, uh that started shortly after he moved, uh that started shortly after he moved, uh that started shortly after he moved, pardon me, and that changed everything. pardon me, and that changed everything. pardon me, and that changed everything. So, the pension covered a big chunk of So, the pension covered a big chunk of So, the pension covered a big chunk of his burn rate in the Philippines, which his burn rate in the Philippines, which his burn rate in the Philippines, which meant that the 90,000 wasn't funding his meant that the 90,000 wasn't funding his meant that the 90,000 wasn't funding his whole life. It wasn't paying for whole life. It wasn't paying for whole life. It wasn't paying for housing, transport, and food. housing, transport, and food. housing, transport, and food. It was just a supplement and a buffer on It was just a supplement and a buffer on It was just a supplement and a buffer on top of a guaranteed monthly income. I top of a guaranteed monthly income. I top of a guaranteed monthly income. I strongly recommend, no matter how small strongly recommend, no matter how small strongly recommend, no matter how small it is, that everyone has some sort of it is, that everyone has some sort of it is, that everyone has some sort of income. It always makes you feel better income. It always makes you feel better income. It always makes you feel better to get a check every month. So, this to get a check every month. So, this to get a check every month. So, this guy's story is the one that matters for guy's story is the one that matters for guy's story is the one that matters for a lot of you watching who think you a lot of you watching who think you a lot of you watching who think you don't have enough yet, basically, right?

don't have enough yet, basically, right? don't have enough yet, basically, right? He didn't have any kind of big portfolio He didn't have any kind of big portfolio He didn't have any kind of big portfolio or investment. He just had a small or investment. He just had a small or investment. He just had a small amount of a cash left over after a house amount of a cash left over after a house amount of a cash left over after a house sale and a mortgage pay down that he put sale and a mortgage pay down that he put sale and a mortgage pay down that he put into a portfolio, but then also had a into a portfolio, but then also had a into a portfolio, but then also had a small guaranteed uh state pension, state small guaranteed uh state pension, state small guaranteed uh state pension, state income. And in a low-cost country like income. And in a low-cost country like income. And in a low-cost country like the Philippines, like Vietnam, like the Philippines, like Vietnam, like the Philippines, like Vietnam, like Thailand, those two modest things Thailand, those two modest things Thailand, those two modest things together can produce a really together can produce a really together can produce a really comfortable, nice retirement um for comfortable, nice retirement um for comfortable, nice retirement um for someone in their 60s, 70s, whatever age someone in their 60s, 70s, whatever age someone in their 60s, 70s, whatever age you have to be to qualify. And the math, you have to be to qualify. And the math, you have to be to qualify. And the math, I think, is really worth seeing plainly I think, is really worth seeing plainly I think, is really worth seeing plainly because it's the math that changes the because it's the math that changes the because it's the math that changes the whole picture uh for people who've whole picture uh for people who've whole picture uh for people who've written themselves off, who've said written themselves off, who've said written themselves off, who've said they're not able to do it, right? A few they're not able to do it, right? A few they're not able to do it, right? A few hundred dollars a month in pension does hundred dollars a month in pension does hundred dollars a month in pension does almost nothing against a western cost of almost nothing against a western cost of almost nothing against a western cost of living, right? I think it's equivalent living, right? I think it's equivalent living, right? I think it's equivalent to about $600 US or something, right? to about $600 US or something, right? to about $600 US or something, right? It's basically a rounding error on your It's basically a rounding error on your It's basically a rounding error on your budget in Toronto, Calgary, Denver, budget in Toronto, Calgary, Denver, budget in Toronto, Calgary, Denver, Nashville, whatever. But against a Nashville, whatever. But against a Nashville, whatever. But against a Vietnam burn rate or a Philippines burn Vietnam burn rate or a Philippines burn Vietnam burn rate or a Philippines burn rate, you know, that amount of money, rate, you know, that amount of money, rate, you know, that amount of money, $20 a day, is a meaningful fraction of $20 a day, is a meaningful fraction of $20 a day, is a meaningful fraction of your whole expenses, you know? Suddenly, your whole expenses, you know? Suddenly, your whole expenses, you know? Suddenly, your income only has to cover the gap.

your income only has to cover the gap. your income only has to cover the gap. Your portfolio just has to make up, not Your portfolio just has to make up, not Your portfolio just has to make up, not the entire cost of living. A small the entire cost of living. A small the entire cost of living. A small guaranteed income is worth far, far more guaranteed income is worth far, far more guaranteed income is worth far, far more in a low-cost country where your in a low-cost country where your in a low-cost country where your purchasing power just drastically goes purchasing power just drastically goes purchasing power just drastically goes up than the same income is worth at up than the same income is worth at up than the same income is worth at home, where it's probably not going to home, where it's probably not going to home, where it's probably not going to cover even a meaningful portion of your cover even a meaningful portion of your cover even a meaningful portion of your housing. Here, it's going to cover a far housing. Here, it's going to cover a far housing. Here, it's going to cover a far larger share of what you actually need larger share of what you actually need larger share of what you actually need for everything, for your whole life. For for everything, for your whole life. For for everything, for your whole life. For him, the pension was the difference him, the pension was the difference him, the pension was the difference between impossible and easy. He had to between impossible and easy. He had to between impossible and easy. He had to wait till he qualified, uh and it was wait till he qualified, uh and it was wait till he qualified, uh and it was the destination and the geoarbitrage the destination and the geoarbitrage the destination and the geoarbitrage that made that difference large, that that made that difference large, that that made that difference large, that created a gap between burn rate and created a gap between burn rate and created a gap between burn rate and income. Okay, so number four, this is a income. Okay, so number four, this is a income. Okay, so number four, this is a bad story, this is a negative. This is bad story, this is a negative. This is bad story, this is a negative. This is the uh the crash and burn. It's an the uh the crash and burn. It's an the uh the crash and burn. It's an example of a guy who really went wrong. example of a guy who really went wrong. example of a guy who really went wrong. He left with $25,000 and no income plan He left with $25,000 and no income plan He left with $25,000 and no income plan whatsoever. Two younger guys, 29. He was whatsoever. Two younger guys, 29. He was whatsoever. Two younger guys, 29. He was inspired, he watched a lot of the inspired, he watched a lot of the inspired, he watched a lot of the videos, come to the meetup in Da Nang. videos, come to the meetup in Da Nang. videos, come to the meetup in Da Nang. Hadn't really let it sink in, all of the Hadn't really let it sink in, all of the Hadn't really let it sink in, all of the information. He just got excited about information. He just got excited about information. He just got excited about the good stuff and not listen to the the good stuff and not listen to the the good stuff and not listen to the negative stuff. So, for him, the $25,000 negative stuff. So, for him, the $25,000 negative stuff. So, for him, the $25,000 had operated very fast, faster than he had operated very fast, faster than he had operated very fast, faster than he expected because he hadn't actually done expected because he hadn't actually done expected because he hadn't actually done any kind of careful budgeting on his any kind of careful budgeting on his any kind of careful budgeting on his lifestyle, what he was doing, right?

lifestyle, what he was doing, right? lifestyle, what he was doing, right? Traveling a bunch, drinking a bunch, Traveling a bunch, drinking a bunch, Traveling a bunch, drinking a bunch, going out. And the income he assumed going out. And the income he assumed going out. And the income he assumed would materialize, you know, he was just would materialize, you know, he was just would materialize, you know, he was just going to teach, but he had no real plan going to teach, but he had no real plan going to teach, but he had no real plan to teach, he hadn't done the TEFL, to teach, he hadn't done the TEFL, to teach, he hadn't done the TEFL, whatever. So, within a year, he was back whatever. So, within a year, he was back whatever. So, within a year, he was back home. And that's really easy to do, you home. And that's really easy to do, you home. And that's really easy to do, you know? And it's embarrassing and it know? And it's embarrassing and it know? And it's embarrassing and it creates humility, it can humble you a creates humility, it can humble you a creates humility, it can humble you a lot. But, I do want to include his story lot. But, I do want to include his story lot. But, I do want to include his story because it it's one you hear all the because it it's one you hear all the because it it's one you hear all the time, you know? I just interviewed time, you know? I just interviewed time, you know? I just interviewed Jeremy, the guy who opened the bakery in Jeremy, the guy who opened the bakery in Jeremy, the guy who opened the bakery in Da Nang, Jeremy's Kitchen, and he's Da Nang, Jeremy's Kitchen, and he's Da Nang, Jeremy's Kitchen, and he's saying the same thing, right? He says saying the same thing, right? He says saying the same thing, right? He says he's seen people show up with 50,000, he's seen people show up with 50,000, he's seen people show up with 50,000, 100,000, and uh back home, failed. So, I 100,000, and uh back home, failed. So, I 100,000, and uh back home, failed. So, I want to include that story, right? want to include that story, right? want to include that story, right? Because Because Because this guy came back, but he came back 2 this guy came back, but he came back 2 this guy came back, but he came back 2 years later with a real plan and a real years later with a real plan and a real years later with a real plan and a real income stream, and income stream, and income stream, and that changed everything, okay? So, he that changed everything, okay? So, he that changed everything, okay? So, he returned to Vietnam, and he's been here returned to Vietnam, and he's been here returned to Vietnam, and he's been here ever since and doing well. I'm proud to ever since and doing well. I'm proud to ever since and doing well. I'm proud to share that with you, but the failure share that with you, but the failure share that with you, but the failure wasn't fatal, in other words, right? wasn't fatal, in other words, right? wasn't fatal, in other words, right? It's okay. You go back home, you learn a It's okay. You go back home, you learn a It's okay. You go back home, you learn a lesson, especially if you're younger. He lesson, especially if you're younger. He lesson, especially if you're younger. He went a little bit too early and with too went a little bit too early and with too went a little bit too early and with too little saved and no income. The income little saved and no income. The income little saved and no income. The income is more important than the savings, is more important than the savings, is more important than the savings, right? He learned exactly what it costs right? He learned exactly what it costs right? He learned exactly what it costs and did it properly the second time. The and did it properly the second time. The and did it properly the second time. The second time he came over here he's second time he came over here he's second time he came over here he's making more than a thousand a month making more than a thousand a month making more than a thousand a month already online, and the specific thing already online, and the specific thing already online, and the specific thing he got wrong the first time is worth he got wrong the first time is worth he got wrong the first time is worth slowing down on because it is the single slowing down on because it is the single slowing down on because it is the single most common mistake I see. You confuse a most common mistake I see. You confuse a most common mistake I see. You confuse a vacation budget with a living budget, vacation budget with a living budget, vacation budget with a living budget, and you think a single fixed amount of and you think a single fixed amount of and you think a single fixed amount of money will last forever, and you have no money will last forever, and you have no money will last forever, and you have no income, nothing coming in. All the money income, nothing coming in. All the money income, nothing coming in. All the money is just going out, right? So, on a is just going out, right? So, on a is just going out, right? So, on a scouting trip of two couple weeks in scouting trip of two couple weeks in scouting trip of two couple weeks in Vietnam, he tracked what he spent. He

Vietnam, he tracked what he spent. He Vietnam, he tracked what he spent. He extrapolated from that whatever 12 days extrapolated from that whatever 12 days extrapolated from that whatever 12 days here here here what that a 2-week visitor budget would what that a 2-week visitor budget would what that a 2-week visitor budget would last for an entire 2 years. But, he last for an entire 2 years. But, he last for an entire 2 years. But, he hadn't added any of the other real hadn't added any of the other real hadn't added any of the other real costs, you know, deposits on apartment, costs, you know, deposits on apartment, costs, you know, deposits on apartment, health care, health care, health care, you know, buying clothes like he you know, buying clothes like he you know, buying clothes like he Nothing. He literally just counted like Nothing. He literally just counted like Nothing. He literally just counted like what he spent on like food and beers for what he spent on like food and beers for what he spent on like food and beers for 12 days and be like, "Okay, if I X that 12 days and be like, "Okay, if I X that 12 days and be like, "Okay, if I X that 24, it'll make sense for 2 years." But, 24, it'll make sense for 2 years." But, 24, it'll make sense for 2 years." But, the unexpected costs show up over the unexpected costs show up over the unexpected costs show up over months, and there's real costs of months, and there's real costs of months, and there's real costs of actually moving, right? So, his real actually moving, right? So, his real actually moving, right? So, his real living costs ran much higher than his living costs ran much higher than his living costs ran much higher than his vacation math, and his income came in vacation math, and his income came in vacation math, and his income came in slower than his optimism predicted. The slower than his optimism predicted. The slower than his optimism predicted. The gap between the two ate up 25 grand, gap between the two ate up 25 grand, gap between the two ate up 25 grand, which is really easy. It's really just which is really easy. It's really just which is really easy. It's really just spending a little more than 2,000 a spending a little more than 2,000 a spending a little more than 2,000 a month. It's not hard to do. Second time month. It's not hard to do. Second time month. It's not hard to do. Second time around, he budgeted off real resident around, he budgeted off real resident around, he budgeted off real resident cost, didn't move until the income was cost, didn't move until the income was cost, didn't move until the income was already there, and he had whatever it already there, and he had whatever it already there, and he had whatever it was, his 10,000 bucks to show up and was, his 10,000 bucks to show up and was, his 10,000 bucks to show up and spend on the cost of actually moving spend on the cost of actually moving spend on the cost of actually moving from one location to the other, setting from one location to the other, setting from one location to the other, setting up a new life, new apartment, etc. The up a new life, new apartment, etc. The up a new life, new apartment, etc. The verdict, he moved in failed because verdict, he moved in failed because verdict, he moved in failed because Vietnam was wrong for him. It failed Vietnam was wrong for him. It failed Vietnam was wrong for him. It failed because he wasn't ready, hadn't done the because he wasn't ready, hadn't done the because he wasn't ready, hadn't done the math properly, math properly, math properly, um and being expired inspired ultimately um and being expired inspired ultimately um and being expired inspired ultimately isn't the same as being prepared. So, isn't the same as being prepared. So, isn't the same as being prepared. So, number five, uh this is just like a number five, uh this is just like a number five, uh this is just like a straight-up portfolio retiree guy, a straight-up portfolio retiree guy, a straight-up portfolio retiree guy, a dividend income guy. So, this guy had dividend income guy. So, this guy had dividend income guy. So, this guy had 510,000 510,000 510,000 dollars. He was 52 years old. This is dollars. He was 52 years old. This is dollars. He was 52 years old. This is like a classic textbook FIRE story. Had like a classic textbook FIRE story. Had like a classic textbook FIRE story. Had to run the 4% rule, got a number around to run the 4% rule, got a number around to run the 4% rule, got a number around 20,000 a year, and he moved to Malaysia,

20,000 a year, and he moved to Malaysia, 20,000 a year, and he moved to Malaysia, a country I absolutely love, Penang, a country I absolutely love, Penang, a country I absolutely love, Penang, where that's going to fund a very where that's going to fund a very where that's going to fund a very generous, comfortable life. Um and he's generous, comfortable life. Um and he's generous, comfortable life. Um and he's just been drawing down off his portfolio just been drawing down off his portfolio just been drawing down off his portfolio at a sustainable rate ever since. So, as at a sustainable rate ever since. So, as at a sustainable rate ever since. So, as many of you know, if you have a bit more many of you know, if you have a bit more many of you know, if you have a bit more money, you can get an MM2H, Malaysia My money, you can get an MM2H, Malaysia My money, you can get an MM2H, Malaysia My Second Home visa, and for his amount of Second Home visa, and for his amount of Second Home visa, and for his amount of money, no business income, no pension money, no business income, no pension money, no business income, no pension yet, just a portfolio and dividends and yet, just a portfolio and dividends and yet, just a portfolio and dividends and the discipline to live within his the discipline to live within his the discipline to live within his withdrawal rate. Obviously, you also withdrawal rate. Obviously, you also withdrawal rate. Obviously, you also know the market's been good for the last know the market's been good for the last know the market's been good for the last couple years, that's no secret. It's couple years, that's no secret. It's couple years, that's no secret. It's working exactly as the math predicted, working exactly as the math predicted, working exactly as the math predicted, right? His verdict, it's very boring and right? His verdict, it's very boring and right? His verdict, it's very boring and it's very successful, which is it's very successful, which is it's very successful, which is ultimately exactly what he wanted, and ultimately exactly what he wanted, and ultimately exactly what he wanted, and that's what I want to teach most people that's what I want to teach most people that's what I want to teach most people to do. It's a short story cuz it's a to do. It's a short story cuz it's a to do. It's a short story cuz it's a good one. It's sweet. Okay, number six, good one. It's sweet. Okay, number six, good one. It's sweet. Okay, number six, the next one, this is a bit different. the next one, this is a bit different. the next one, this is a bit different. It's the first couple we've talked It's the first couple we've talked It's the first couple we've talked about. This is a married couple. They about. This is a married couple. They about. This is a married couple. They had a combined savings rate around 300 had a combined savings rate around 300 had a combined savings rate around 300 and or sorry, not combined savings rate, and or sorry, not combined savings rate, and or sorry, not combined savings rate, combined savings total 340K. combined savings total 340K. combined savings total 340K. Uh it's from a condo sale, and the Uh it's from a condo sale, and the Uh it's from a condo sale, and the lesson from them is about the economics lesson from them is about the economics lesson from them is about the economics of moving as a pair, which can be really of moving as a pair, which can be really of moving as a pair, which can be really advantageous or they can be bad. Rent advantageous or they can be bad. Rent advantageous or they can be bad. Rent doesn't double for two people, though.

doesn't double for two people, though. doesn't double for two people, though. So, many costs end up being shared. So, many costs end up being shared. So, many costs end up being shared. Their combined 340k in savings in Their combined 340k in savings in Their combined 340k in savings in Vietnam supports two people very Vietnam supports two people very Vietnam supports two people very comfortably, because the burn rate for comfortably, because the burn rate for comfortably, because the burn rate for the couple here is not much higher for the couple here is not much higher for the couple here is not much higher for one person living well. So, for them, one person living well. So, for them, one person living well. So, for them, they spend about 2,500 a month. Their they spend about 2,500 a month. Their they spend about 2,500 a month. Their verdict, moving as a couple is more verdict, moving as a couple is more verdict, moving as a couple is more financially efficient than people financially efficient than people financially efficient than people expect. I think one of them has a small expect. I think one of them has a small expect. I think one of them has a small online income, and they wish more online income, and they wish more online income, and they wish more couples understood that, right? couples understood that, right? couples understood that, right? >> I feel that way with my wife. People >> I feel that way with my wife. People >> I feel that way with my wife. People often ask, "Is that your your one cost, often ask, "Is that your your one cost, often ask, "Is that your your one cost, or is it split cost, your whole family or is it split cost, your whole family or is it split cost, your whole family cost?" And I'm like, most of our costs cost?" And I'm like, most of our costs cost?" And I'm like, most of our costs don't actually quadruple, because don't actually quadruple, because don't actually quadruple, because there's four of us, right? Most of those there's four of us, right? Most of those there's four of us, right? Most of those base costs, things like housing, food, base costs, things like housing, food, base costs, things like housing, food, transport, they stay basically the same, transport, they stay basically the same, transport, they stay basically the same, right? It doesn't matter whether there's right? It doesn't matter whether there's right? It doesn't matter whether there's one person or four people in your $3 one person or four people in your $3 one person or four people in your $3 Grab car. Number seven. Ooh, this is a Grab car. Number seven. Ooh, this is a Grab car. Number seven. Ooh, this is a good one. This is a social security good one. This is a social security good one. This is a social security story. Social security bridge. So, this story. Social security bridge. So, this story. Social security bridge. So, this guy had 160k, and he claimed social guy had 160k, and he claimed social guy had 160k, and he claimed social security early at 62. His benefit was security early at 62. His benefit was security early at 62. His benefit was very modest because of it. So, if you very modest because of it. So, if you very modest because of it. So, if you claim early, it reduces your monthly claim early, it reduces your monthly claim early, it reduces your monthly income. Um but, he wasn't stressed about income. Um but, he wasn't stressed about income. Um but, he wasn't stressed about it. And in Da Lat, in Vietnam, that it. And in Da Lat, in Vietnam, that it. And in Da Lat, in Vietnam, that modest benefit, plus a sustainable draw modest benefit, plus a sustainable draw modest benefit, plus a sustainable draw from 160,000 dollars, uh added up to a from 160,000 dollars, uh added up to a from 160,000 dollars, uh added up to a very, very comfortable monthly income.

very, very comfortable monthly income. very, very comfortable monthly income. So, this guy just made a deliberate So, this guy just made a deliberate So, this guy just made a deliberate choice choice choice to claim 5 years earlier and move to claim 5 years earlier and move to claim 5 years earlier and move earlier, rather than wait for a bigger earlier, rather than wait for a bigger earlier, rather than wait for a bigger benefit. He was more worried about that benefit. He was more worried about that benefit. He was more worried about that 5 years of his 60s, because the bigger 5 years of his 60s, because the bigger 5 years of his 60s, because the bigger benefit at 67 would have cost him 5 more benefit at 67 would have cost him 5 more benefit at 67 would have cost him 5 more years of life abroad, of living the way years of life abroad, of living the way years of life abroad, of living the way he wanted, of being able-bodied and he wanted, of being able-bodied and he wanted, of being able-bodied and moving. So, for him and his verdict, moving. So, for him and his verdict, moving. So, for him and his verdict, claiming early was 100% the right call, claiming early was 100% the right call, claiming early was 100% the right call, specifically because Vietnam's cost specifically because Vietnam's cost specifically because Vietnam's cost structure meant he didn't need that structure meant he didn't need that structure meant he didn't need that bigger number. It would have just been bigger number. It would have just been bigger number. It would have just been excessive. So, I'll come back to this excessive. So, I'll come back to this excessive. So, I'll come back to this exact math in another video where we exact math in another video where we exact math in another video where we talk more specifically about retiring on talk more specifically about retiring on talk more specifically about retiring on social security, but it's a big one to social security, but it's a big one to social security, but it's a big one to know, for sure. Number eight, uh this know, for sure. Number eight, uh this know, for sure. Number eight, uh this should be a high earner who just should be a high earner who just should be a high earner who just downshifts. So, $920,000, downshifts. So, $920,000, downshifts. So, $920,000, almost a million. So, it's the biggest almost a million. So, it's the biggest almost a million. So, it's the biggest number in the group of anyone we'll talk number in the group of anyone we'll talk number in the group of anyone we'll talk about. But, there's a real twist here. about. But, there's a real twist here. about. But, there's a real twist here. He was certainly the most anxious of all He was certainly the most anxious of all He was certainly the most anxious of all the people I had talked to, right? the people I had talked to, right? the people I had talked to, right? Because he'd had a high-paying career, a Because he'd had a high-paying career, a Because he'd had a high-paying career, a high-spending lifestyle back home, and a high-spending lifestyle back home, and a high-spending lifestyle back home, and a move abroad meant a dramatic drop in move abroad meant a dramatic drop in move abroad meant a dramatic drop in income, right? He was just used to being income, right? He was just used to being income, right? He was just used to being a high earner. So, even though his a high earner. So, even though his a high earner. So, even though his savings were large and the house sale, savings were large and the house sale, savings were large and the house sale, the psychological adjustment from being the psychological adjustment from being the psychological adjustment from being a high earner, from constantly having a a high earner, from constantly having a a high earner, from constantly having a ton of money from coming in, from having ton of money from coming in, from having ton of money from coming in, from having a nice car, a nice car, a nice car, nice portfolio, and watching the numbers nice portfolio, and watching the numbers nice portfolio, and watching the numbers go up instead of down, right? I think go up instead of down, right? I think go up instead of down, right? I think that's the hardest part of the that's the hardest part of the that's the hardest part of the transition for a lot of people. I know transition for a lot of people. I know transition for a lot of people. I know it is for me when I first didn't have as it is for me when I first didn't have as it is for me when I first didn't have as much online income and I retired.

much online income and I retired. much online income and I retired. Watching whenever the money went down, I Watching whenever the money went down, I Watching whenever the money went down, I got very stressed out. Even if it's just got very stressed out. Even if it's just got very stressed out. Even if it's just a small amount. My number went down, a small amount. My number went down, a small amount. My number went down, when it was not going up, it was very when it was not going up, it was very when it was not going up, it was very stressful. It affected my identity and stressful. It affected my identity and stressful. It affected my identity and my mental health. For this guy, he my mental health. For this guy, he my mental health. For this guy, he described his first 6 months as like described his first 6 months as like described his first 6 months as like almost like vertigo, right? So, for almost like vertigo, right? So, for almost like vertigo, right? So, for decades, he just had a large amount of decades, he just had a large amount of decades, he just had a large amount of money arriving in his account every money arriving in his account every money arriving in his account every couple weeks, and that number had couple weeks, and that number had couple weeks, and that number had quietly just become part of his life and quietly just become part of his life and quietly just become part of his life and everything and what he understood his everything and what he understood his everything and what he understood his value and his safety. And when it value and his safety. And when it value and his safety. And when it stopped, it triggered a kind of stopped, it triggered a kind of stopped, it triggered a kind of psychological reaction, psychological reaction, psychological reaction, even though his net worth was completely even though his net worth was completely even though his net worth was completely secure from selling a paid-off house, secure from selling a paid-off house, secure from selling a paid-off house, right? Even though that math worked right? Even though that math worked right? Even though that math worked perfectly. So, he was investing and I perfectly. So, he was investing and I perfectly. So, he was investing and I think he got 8% return, and 8% think he got 8% return, and 8% think he got 8% return, and 8% off that much money is way, way, way off that much money is way, way, way off that much money is way, way, way more than you need to live very, very more than you need to live very, very more than you need to live very, very comfortably in Southeast Asia. Uh but, comfortably in Southeast Asia. Uh but, comfortably in Southeast Asia. Uh but, some part of him kept bracing for some part of him kept bracing for some part of him kept bracing for disaster that never came, basically, disaster that never came, basically, disaster that never came, basically, right? He was just catastrophizing. And right? He was just catastrophizing. And right? He was just catastrophizing. And he told me he had more financial he told me he had more financial he told me he had more financial security than ever in his life, and yet security than ever in his life, and yet security than ever in his life, and yet he felt less secure than he ever had, he felt less secure than he ever had, he felt less secure than he ever had, because he didn't have a regular income.

because he didn't have a regular income. because he didn't have a regular income. And it took him, you know, a year or two And it took him, you know, a year or two And it took him, you know, a year or two really to adjust to the feeling, to really to adjust to the feeling, to really to adjust to the feeling, to realize it wasn't about money, that realize it wasn't about money, that realize it wasn't about money, that really he was worried because he'd never really he was worried because he'd never really he was worried because he'd never been able to feel secure without the been able to feel secure without the been able to feel secure without the identity of being a high earner. Right? identity of being a high earner. Right? identity of being a high earner. Right? A lot of people who earn a lot of money A lot of people who earn a lot of money A lot of people who earn a lot of money make a lot of money, that's who they make a lot of money, that's who they make a lot of money, that's who they are. They think, "I'm a winner. I'm an A are. They think, "I'm a winner. I'm an A are. They think, "I'm a winner. I'm an A type. I'm getting all this cash." Right? type. I'm getting all this cash." Right? type. I'm getting all this cash." Right? Ultimately, for him, the number was Ultimately, for him, the number was Ultimately, for him, the number was never the problem. Learning to feel okay never the problem. Learning to feel okay never the problem. Learning to feel okay without being a successful high earner, without being a successful high earner, without being a successful high earner, you know, without being a baller, that you know, without being a baller, that you know, without being a baller, that was the problem and no amount of savings was the problem and no amount of savings was the problem and no amount of savings is ultimately going to fix that. So, you is ultimately going to fix that. So, you is ultimately going to fix that. So, you need to you need to shift how you think. need to you need to shift how you think. need to you need to shift how you think. Okay, number nine. This is an old Okay, number nine. This is an old Okay, number nine. This is an old co-worker, another teacher. Definitely, co-worker, another teacher. Definitely, co-worker, another teacher. Definitely, this story hits close to home because this story hits close to home because this story hits close to home because it's very close to my own story. Another it's very close to my own story. Another it's very close to my own story. Another teacher, very modest career income, but teacher, very modest career income, but teacher, very modest career income, but a high savings rate sustained over many a high savings rate sustained over many a high savings rate sustained over many years in low-cost countries. Got a bit years in low-cost countries. Got a bit years in low-cost countries. Got a bit older than me, but had a very similar older than me, but had a very similar older than me, but had a very similar story to my own. Never getting rich, story to my own. Never getting rich, story to my own. Never getting rich, just slowly chugging away at it, right? just slowly chugging away at it, right? just slowly chugging away at it, right? Not a big single number, but the power Not a big single number, but the power Not a big single number, but the power is always in the savings rate monthly is always in the savings rate monthly is always in the savings rate monthly and the geo-arbitrage geography. He and the geo-arbitrage geography. He and the geo-arbitrage geography. He built his position the way I built mine, built his position the way I built mine, built his position the way I built mine, basically. By keeping the gap between basically. By keeping the gap between basically. By keeping the gap between income and expenses enormous. Um it income and expenses enormous. Um it income and expenses enormous. Um it didn't matter in places that was didn't matter in places that was didn't matter in places that was possible for a long time. Too many possible for a long time. Too many possible for a long time. Too many people focus on the salaries. That's the people focus on the salaries. That's the people focus on the salaries. That's the takeaway. The salary barely mattered.

takeaway. The salary barely mattered. takeaway. The salary barely mattered. The savings rate and the cost of living The savings rate and the cost of living The savings rate and the cost of living did all the work. This is someone again did all the work. This is someone again did all the work. This is someone again who was never probably earning more than who was never probably earning more than who was never probably earning more than 50,000 a year, but easily uh retired 50,000 a year, but easily uh retired 50,000 a year, but easily uh retired at about 55. I think he's 56. So, in at about 55. I think he's 56. So, in at about 55. I think he's 56. So, in that case, geo-arbitrage, cost of living that case, geo-arbitrage, cost of living that case, geo-arbitrage, cost of living over long term compounds. Basically, the over long term compounds. Basically, the over long term compounds. Basically, the same story as my own. Okay, number 10. same story as my own. Okay, number 10. same story as my own. Okay, number 10. This is the late starter. I think this This is the late starter. I think this This is the late starter. I think this will apply to a lot of you. Uh and this will apply to a lot of you. Uh and this will apply to a lot of you. Uh and this one is a Cambodia story for those of you one is a Cambodia story for those of you one is a Cambodia story for those of you interested in Cambodia, but this guy interested in Cambodia, but this guy interested in Cambodia, but this guy didn't start taking savings seriously didn't start taking savings seriously didn't start taking savings seriously until he was well into his 50s. So, by until he was well into his 50s. So, by until he was well into his 50s. So, by any conventional standard, this is any conventional standard, this is any conventional standard, this is probably too late for like FIRE, right? probably too late for like FIRE, right? probably too late for like FIRE, right? But, spent about a decade, 11 years, But, spent about a decade, 11 years, But, spent about a decade, 11 years, focused years, focused years, focused years, um and a decision he knew in his head he um and a decision he knew in his head he um and a decision he knew in his head he was going to move somewhere very low was going to move somewhere very low was going to move somewhere very low cost, very easy. In the decade, he was cost, very easy. In the decade, he was cost, very easy. In the decade, he was able to get to 300,000 and a comfortable able to get to 300,000 and a comfortable able to get to 300,000 and a comfortable retirement in Cambodia by 61 years old. retirement in Cambodia by 61 years old. retirement in Cambodia by 61 years old. So, his whole message really was for So, his whole message really was for So, his whole message really was for people who think the window is closed people who think the window is closed people who think the window is closed because they didn't start soon enough. because they didn't start soon enough. because they didn't start soon enough. You know, they didn't start in their 20s You know, they didn't start in their 20s You know, they didn't start in their 20s or their 30s. By really aggressively or their 30s. By really aggressively or their 30s. By really aggressively cutting and saving in the last decade cutting and saving in the last decade cutting and saving in the last decade between 50 and 60, and then by doing the between 50 and 60, and then by doing the between 50 and 60, and then by doing the house sale back home, he was able to house sale back home, he was able to house sale back home, he was able to say, "Look, I started at 50 and it still say, "Look, I started at 50 and it still say, "Look, I started at 50 and it still worked that he could retire within 10 worked that he could retire within 10 worked that he could retire within 10 years at 60 because the destination did years at 60 because the destination did years at 60 because the destination did half the work, right? The early start half the work, right? The early start half the work, right? The early start would not have done more for him. It was would not have done more for him. It was would not have done more for him. It was really just locking in deciding for him really just locking in deciding for him really just locking in deciding for him Cambodia was the place and it it Cambodia was the place and it it Cambodia was the place and it it hyper-charged everything. Okay. So, hyper-charged everything. Okay. So, hyper-charged everything. Okay. So, there you are. 10 people from $25,000 to there you are. 10 people from $25,000 to there you are. 10 people from $25,000 to almost a million dollars. What did I almost a million dollars. What did I almost a million dollars. What did I actually learn by talking to these

actually learn by talking to these actually learn by talking to these people, by summarizing it? Well, people, by summarizing it? Well, people, by summarizing it? Well, basically three things determine whether basically three things determine whether basically three things determine whether the number worked for any one person and the number worked for any one person and the number worked for any one person and the size of the number ultimately, if the size of the number ultimately, if the size of the number ultimately, if you noticed, was not one of the you noticed, was not one of the you noticed, was not one of the determinants of success. So, the first determinants of success. So, the first determinants of success. So, the first thing was the burn rate. How much you thing was the burn rate. How much you thing was the burn rate. How much you spend in a month, your cost of living, spend in a month, your cost of living, spend in a month, your cost of living, right? People who picked low-cost right? People who picked low-cost right? People who picked low-cost destinations and live within the local destinations and live within the local destinations and live within the local cost structure are always able to make cost structure are always able to make cost structure are always able to make the small numbers work. The destination, the small numbers work. The destination, the small numbers work. The destination, the geo-arbitrage, does all the heavy the geo-arbitrage, does all the heavy the geo-arbitrage, does all the heavy lifting. Way more important than having lifting. Way more important than having lifting. Way more important than having a bigger portfolio number off the top, a bigger portfolio number off the top, a bigger portfolio number off the top, okay? Second, huge, whether they had okay? Second, huge, whether they had okay? Second, huge, whether they had income or just savings, right? Do you income or just savings, right? Do you income or just savings, right? Do you just have a portfolio or do you have a just have a portfolio or do you have a just have a portfolio or do you have a regular income? Any kind of regular regular income? Any kind of regular regular income? Any kind of regular income, a pension, social security, CPP, income, a pension, social security, CPP, income, a pension, social security, CPP, online income, anything. Way bigger online income, anything. Way bigger online income, anything. Way bigger indicator of success long-term. Every indicator of success long-term. Every indicator of success long-term. Every one of the people who made a small one of the people who made a small one of the people who made a small number work had some sort of income number work had some sort of income number work had some sort of income stream on top of their small amount of stream on top of their small amount of stream on top of their small amount of savings. The pure portfolio retirees savings. The pure portfolio retirees savings. The pure portfolio retirees need the biggest number. That's it. If need the biggest number. That's it. If need the biggest number. That's it. If all you're doing is drawing down on 4%, all you're doing is drawing down on 4%, all you're doing is drawing down on 4%, you need a huge number, right? I'm not you need a huge number, right? I'm not you need a huge number, right? I'm not one of those people. I could not live one of those people. I could not live one of those people. I could not live off of 4% drawdown on my portfolio if I off of 4% drawdown on my portfolio if I off of 4% drawdown on my portfolio if I didn't have consistent income streams. I didn't have consistent income streams. I didn't have consistent income streams. I have lots of them. Even a modest have lots of them. Even a modest have lots of them. Even a modest supplemental income needed far less. For supplemental income needed far less. For supplemental income needed far less. For me, it was $40 a day. So, if you watch me, it was $40 a day. So, if you watch me, it was $40 a day. So, if you watch my own income breakdown, this is the my own income breakdown, this is the my own income breakdown, this is the exact same structure, basically showing exact same structure, basically showing exact same structure, basically showing up as a success signal for multiple up as a success signal for multiple up as a success signal for multiple people here. Multiple modest income people here. Multiple modest income people here. Multiple modest income streams over a low burn rate, streams over a low burn rate, streams over a low burn rate, the portfolio is just a backstop then.

the portfolio is just a backstop then. the portfolio is just a backstop then. It's not a trick I invented, but it is It's not a trick I invented, but it is It's not a trick I invented, but it is what works. Okay, third lesson, third what works. Okay, third lesson, third what works. Okay, third lesson, third thing. And this thing is the one that thing. And this thing is the one that thing. And this thing is the one that nobody really expects, right? Whether nobody really expects, right? Whether nobody really expects, right? Whether they were psychologically ready or not. they were psychologically ready or not. they were psychologically ready or not. So, this is huge. If you're not So, this is huge. If you're not So, this is huge. If you're not psychologically ready, you're not going psychologically ready, you're not going psychologically ready, you're not going to succeed. Even a guy with a ton of to succeed. Even a guy with a ton of to succeed. Even a guy with a ton of money, huge house sale, couldn't chill money, huge house sale, couldn't chill money, huge house sale, couldn't chill out, couldn't relax, okay? The dude who out, couldn't relax, okay? The dude who out, couldn't relax, okay? The dude who only had 25K, same scenario. He only had 25K, same scenario. He only had 25K, same scenario. He panicked, went home. He didn't calmly panicked, went home. He didn't calmly panicked, went home. He didn't calmly plan, get a job in his first month, and plan, get a job in his first month, and plan, get a job in his first month, and do fine. I do get scary emails from do fine. I do get scary emails from do fine. I do get scary emails from people like this, saying they're running people like this, saying they're running people like this, saying they're running out of money, and I'm like, well, I out of money, and I'm like, well, I out of money, and I'm like, well, I can't I can't help you, man. Like, you can't I can't help you, man. Like, you can't I can't help you, man. Like, you have to have income. You have to get a have to have income. You have to get a have to have income. You have to get a job. So, being financially ready and job. So, being financially ready and job. So, being financially ready and being emotionally ready are the two being emotionally ready are the two being emotionally ready are the two biggest indicators long-term of success. biggest indicators long-term of success. biggest indicators long-term of success. People get stressed about the size of People get stressed about the size of People get stressed about the size of the number, but it tells you almost the number, but it tells you almost the number, but it tells you almost nothing, right? Ultimately, you can fail nothing, right? Ultimately, you can fail nothing, right? Ultimately, you can fail with 25,000, 100,000, or even with six with 25,000, 100,000, or even with six with 25,000, 100,000, or even with six figures, seven figures. Especially if figures, seven figures. Especially if figures, seven figures. Especially if you cost yourself 10 years of real life, you cost yourself 10 years of real life, you cost yourself 10 years of real life, that's a huge lesson. Don't wait too that's a huge lesson. Don't wait too that's a huge lesson. Don't wait too long. The number is never going to be long. The number is never going to be long. The number is never going to be the answer to the question. The answer the answer to the question. The answer the answer to the question. The answer is always going to be a combination of is always going to be a combination of is always going to be a combination of where you go, what income streams you where you go, what income streams you where you go, what income streams you have coming alongside, and whether have coming alongside, and whether have coming alongside, and whether you've actually prepared yourself you've actually prepared yourself you've actually prepared yourself mentally for a life abroad rather than mentally for a life abroad rather than mentally for a life abroad rather than just becoming obsessed with the cash.

just becoming obsessed with the cash. just becoming obsessed with the cash. So, that's exactly the kind of thing I So, that's exactly the kind of thing I So, that's exactly the kind of thing I do in the community. A lot of these do in the community. A lot of these do in the community. A lot of these stories come from actual members, people stories come from actual members, people stories come from actual members, people I've done consultations, talked to on I've done consultations, talked to on I've done consultations, talked to on the phone, helped figure out their the phone, helped figure out their the phone, helped figure out their numbers, their situations, what's going numbers, their situations, what's going numbers, their situations, what's going to work for them. So, if you want to to work for them. So, if you want to to work for them. So, if you want to figure out what your numbers really need figure out what your numbers really need figure out what your numbers really need to be, not a generic answer, uh that to be, not a generic answer, uh that to be, not a generic answer, uh that conversation can happen in there at the conversation can happen in there at the conversation can happen in there at the costoflivingabroad.com costoflivingabroad.com costoflivingabroad.com with me. Thanks so much for watching. with me. Thanks so much for watching. with me. Thanks so much for watching. I'm Abenae, retired in Vietnam. You can I'm Abenae, retired in Vietnam. You can I'm Abenae, retired in Vietnam. You can watch some of my interviews with other watch some of my interviews with other watch some of my interviews with other expats here, or you can watch a expats here, or you can watch a expats here, or you can watch a breakdown of why I actually left here. breakdown of why I actually left here. breakdown of why I actually left here. Thanks so much.