Suzan Haskins - How to Live Well on $25,000 a Year

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Copyright 2014 by International Living Publishing Ltd. All rights reserved.

Published by John Wiley & Sons, Inc., Hoboken, New Jersey.

Published simultaneously in Canada.

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Library of Congress Cataloging-in-Publication Data :

Haskins, Suzan.

The international living guide to retiring overseas on a budget : how to live well on $25,000 a year / Suzan Haskins, Dan Prescher.

pages cm

ISBN 978-1-118-75859-5 (cloth); ISBN 978-1-118-86316-9 (ebk); ISBN 978-1-118-86315-2 (ebk)

1. RetireesFinance, Personal. 2. Investments. 3. Retirement, Places ofForeign countries. 4. Retirement income. I. Precher, Dan. II. Title.

HG179.H3197 2014

332.024'014dc23

2013045012

IN 1979, I STARTED A LITTLE NEWSLETTER called International Living. It explored a fairly contrarian idea at the time: the idea that you could move abroad and save money as well as living a happier, richer, and even healthier life.

International Living grew out of a love of international travel and a belief that the world is alive with opportunitiesfor fun, personal growth, adventure, and profit. And those opportunities are closer at hand than you might imagine. Everybody says the world is getting smaller, but it is actually getting larger. New air routes are opening all the time. Exotic island paradises and bustling metropolitan centers on the other side of the world are easily accessible. Huge countries that were off limits only a few years ago are now open for business as well as travel.

When International Living started, we hoped to open up new possibilities for its readers. To give them new ideas about places to visit... and live. To show them ways to make their international lifestyle profitable, or at least self-supporting. To help them adjust to a rapidly changing world.

Today, some 30-odd years later, the idea of living a happier, healthier life overseas for a fraction of what the same lifestyle would cost in the United States isnt quite as contrarian as it used to be. But its still a little out of the box. The vast majority of U.S. citizens will never obtain a passport, much less seriously consider moving to Panama or Uruguay or Italy.

But as the economic ride in the United States gets bumpier, more people than ever are realizing that looking beyond their own shores is not just a viable optionits often the smartest move they can make. And this realization isnt limited to retirees. Young people, families with children, business entrepreneurs, investors, and many others are finding better opportunities, lower startup costs, less regulation, improved health care, greater freedom, and generally lower costs of living abroad.

Two early adopters of this international lifestyle were Suzan Haskins and Dan Prescher, who made their move overseas in 2001 and have been living the expat life ever since. Theyve been writing and reporting on their travels, trials, and triumphs in Latin America for more than a decade now. Their experience is unmatched when it comes to identifying the best locations and strategies for a successful move abroad.

In this book, Suzan and Dan distill their years of experience into a well-researched manual that not only gives the reader the best potential locations to consider, but also a detailed blueprint showing how to approach, plan, and follow through on the journey.

Whatever your reason for considering a move overseas, youll find this book invaluable. Suzan and Dan know the road and show you the best way to reach your own destinationa happier, healthier, and more prosperous life abroad.

Its a great journey, but there are traps and pitfalls to avoid. This book can serve as your trusty guide.

Bill Bonner

Founder, International Living

WHEN WE LEFT OMAHA IN 2001 to work as editors for International Living magazine in Quito, Ecuador, this ideathat you could live better for less in an overseas locale that closely matched your idea of paradisewas relatively novel. We could pretty much count all the gringos living in Ecuador at the time on one hand. Two or three in Cuenca, a handful in Vilcabamba, another handful in Otavalo. Most of the expats in Ecuador lived in Quito and were associated with the petroleum industry. Only a few were baby boomer retirees.

But over the years, weve met more and more people whove done what we have.

Theyve left the rat race of the workaday world behind and relocated to places like Ecuador, Panama, Costa Rica, Mexico, Spain, Malaysia, and more... with warmer weather, a better quality of life, less crime, more cultural activities, healthier and less expensive food, better and less expensive health care... and theyre enjoying every bit of it for about $2,000 a month or less, all in. Many of them arent even of official retirement age.

Ron and Terresa Moore, for example, have been retired in Ecuador since 2009long enough for Rons ponytail to grow all the way down his back. In 2008, though, when Ron was 54 and Terresa was 50, they were struggling. Theyd lost a third of their nest egg and were so close to losing their home that all they could do was walk away.