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The two of you provide some of the most direct, common sense, thoughtful, well organized advice I have ever received on the internet. AAA+ Thank you so very much for your advice. Retired Commissioner Richard Rothschild
As a single mom tackling all this on my own I am so happy to have found you guys. Now I have at least 10 lists! I'm working on your 30 day one right now. Blessings to you and your family on your journey!💖 Southern Texan who totally understands the meaning of hot summer.
WOW! Congrats on tackling it all on your own. That is very inspiring and will leave a great impression your child(ren). We're also so excited to hear you're taking the challenge because it means you're building wealth and we love to see that. AWESOME!
📈Looking to learn how to invest? Enroll in our Stock Market Investing Course: www.ourrichjourney.com/investingforfire 🔥Learn more about financial independence and retiring early: Enroll in our F.I.R.E. Master Class: www.ourrichjourney.com/firemasterclass ✈Want to move to Portugal? Enroll in our Moving to Portugal Course: www.ourrichjourney.com/movingtoportugal
Really practical tips. I'm watching this video while recovering from some dental work in Nicaragua. The dentist was recommended on a Facebook expats group, which has been super helpful for getting information about living here.
Great video guys! I'm interested into how you decided you wanted to retire abroad instead of in the US. Was it mainly for a cheaper cost of living? Just curious!
Our dollar definitely would stretch further, which is a positive. But, we also love learning about different cultures, languages, etc. - it feels like an adventure. We've also lived abroad for more than ten years on and off, so living abroad feels like the norm for us now. Of course, there are certain things that make us homesick, so we'll have to see what happens in the next couple of years! Thanks for watching and commenting! :)
@@OurRichJourney That is awesome! Love the concept of not only getting to experience different cultures as you would like on a vacation but getting to live within the culture as well. Best of luck with your goals and journey!
JJ Buckner - Thanks for the positivity! :) We're planning on doing a grocery haul video soon - to show a Japanese market combined with money saving tips on food. Hoping that the Japanese market will show everyone a cool aspect of everyday Japanese culture! :)
QUESTION: Have you encountered any problems with the IRS when taking the Foreign Tax Credit (FTC) for U.S. sourced income that is also taxed in Portugal? Any advice would be appreciated. (Also, we see the NHR program is about to impose a 10% tax on U.S. pension income.)
Such great tips! These are things I wouldn’t have even thought of if we were thinking of retiring to another country! I’ve always thought it’d be cool to retire to a beachy locale in the Caribbean 😍 #goals
Very informative! Thank you for your hard work! This is a game changer for me! I want to retire in 3-4 years, now I know to visit the countries in different seasons.
This is so helpful! We plan on moving to Colombia in June and eventually retiring somewhere in the world that has fresh coconuts. Seeing Christina on the right side of the video is really messing with me! 😩 Great video as always!
very practical and worthwhile tips. In particular, the engagement with Government and staying in house, as it gives you a better feel as to everyday life versus a holiday in a hotel
Hi guys my wife and I really enjoy your video! Thanks so much for all the great detail you sharing. Hopefully we will end up in Portugal at some stage :-)
Great video and great advice! Thank you for sharing. I have always dreamed of retiring abroad to Ecuador or Peru but now I have psoriasis and I fear it could be challenging getting medical coverage and certain prescriptions. All of your suggestions are excellent and I will certainly be visiting medical facilities and reaching out to expats.
I really enjoyed your video, I am retired and thinking about moving my family to Portugal this year. I am very thankful for your video you did on Portugal, but if you have anymore suggestion, it would be much appreciate. Thanks
We LOVE Portugal! We just were just there over the winter holidays. Another suggestion specifically about Portugal: the cities can be entirely different (just like other cities in other countries). We went to Porto and Lisbon and I loved Lisbon so much more. One of my suggestions would be to explore the different cities in Portugal before moving. Second, look at the tax breaks for retirees. They have really great tax benefits for people retiring there that you may qualify for!
You guys have such awesome tips!! So many things I wouldn’t have thought of!! I’m going to Scotland later this year on a tour, and I’m SURE I’ll fall in love with it! Lol. If I decide to look into retiring there, I guess I could always get in touch with Brandon at the mad FIentist to give me the inside scoop!! 😜
I'm so happy I found your channel! could you please give me examples of what kind of services may not be available? you've gotten me quite interested in porto!
So glad you found our channel, too! In terms of unavailable services, it just depends on where you go. Some things are small, like you can't access certain websites that you could typically access in the U.S. Other things are bigger. For instance in Singapore, you can pretty much assume you'll be taking public transportation everywhere. A standard car that would cost you $15,000 in the states would cost you more than $70,000 in Singapore!
@H Hh - Just realized when you said services you probably meant public (fire, police, etc) & private (business, stores, etc) services. In this regard, many beach or snow resort areas will significantly reduce public services because the populations drops in the off-seasons. For instance less police patrolling or no life guards on the beach, etc. Many businesses close down completely because their customers are tourist and tourist aren't around. How these services reduce, or shutdown, depends on the location. Hope that answers your question.
Hi, I love following your journey and love learning. A BIG question I have is about taxes. So I am looking at moving to the UK from the US. The job would be working for the British NHS. Would I have to pay taxes in the US and the UK? Would I be eligible for Health Care in the UK as an American? How does this affect my ability to contribute to for example a ROTH IRA or a company retirement match? Can you enlighten me using your past experience. I am really interested in moving there but want to make sure I am still on coarse for FIRE. Thanks!
Adrian Schuh - I'm hoping other people in your situation will see your comment and weigh in on it! :) We've never lived in the UK, so we're not familiar with how taxes work for UK/American exchange. However, I do know that the US has several tax treaties with other countries so as to reduce double taxation for a foreigner living in the US. I looked up the UK and US and UK have a tax treaty. Recommend starting there to see how that would apply to you! :)
Great advice. Lots of substance. I agree that visiting in several seasons is advisable. My takeaway from your video is this - treat selecting a place abroad the way you would a marriage partner. It takes time and pragmatism to get to know that person, and a binding relationship shouldn’t be taken lightly or naively. Then once you do, enjoy the sweetness and deal with the sour.
Great video. I was hoping you could make a video about tax strategies for retiring abroad. From what I've found you still have to pay US taxes in addition to that countries taxes.
We'll have to do a video but the short answer is it all depends on the tax agreements between countries. It also depends on the type of income (pension, wages, etc). For instance, in Portugal you pay no ax on your pension or retirement account income for your first 10 years.
Love your info but my experience with the U.S. EMBASSY WAS NOT GOOD. It is very difficult for Americans to get into American embassy in some countries.
I left the US 30 years ago. I've never just 'visited' the US Embassy. They are easy to deal with, but they don't have a 'meet and great' mentality. If you need something, they'll help. If you want to chat and glean information about the country, that's not what they're about.
Hi Christina and Amon, I cannot thank you enough for this informative channel. I wanted to ask you, “ How do you live in another country, while having all of your investments in the USA?” How is the money transferred? I look forward to your response.
I want to retire to Japan, it will be just me. I went there and it was great over winter break. It was great I think if I have 1mil I should be able to do it.
You'll love living here. We've lived in Japan, on and off, for almost 10 years in total. Our father retired here 12 years ago and lives near us. His retirement goes a long way here. Even Tokyo is affordable relative to other major international cities. And if you're in a smaller city its surprising how inexpensive it is. And if you're in the country...you can live for less $1000/month. In fact we have a close friend that retired early to the country side and his total monthly expenses are only $700! He comes into the city*Yokohama or Tokyo) when he wants to experience the city vibe but then quickly retreats to his oasis in the country. Thanks again for the comment and congrats on your plan to retire in Japan :-)
Great question! We're actually going to do a video soon on it. We're going to go into detail about the Roth Conversion Ladder and how we intend to implement it in early retirement! Please make sure you subscribe to get the notices! :)
Great tips! Watching your videos and familiarizing myself with the FIRE movement has shown me that my dream of living abroad can actually be a reality if I play my cards right. I'm playing with some numbers and buckling down so that I can be financially independent in 15-20 years. Hey, that gives me 15 years to travel (on a budget, of course) and check out "early retirement" locations :)
Wonderful. For me, I follow all of these tips. And I place extra emphasis on establishing solid personal relationships with a doctor, lawyer, politicians and my local neighbors (I've volunteer for the local fire Brigade, seasonal festivals and have dressed up as Santa for the kids)...when a natural disaster struck all of my efforts really paid off and my neighbors made sure I was up to date with all of the local info and resources. They checked on me daily.
U guys might wanna settle down in New Zealand. It has the Highest quality of living. Can you tour New Zealand and Canada and give opinions about these countries 😎😎😎
@@OurRichJourney thanks guys, for your next vdo, pls do research on the top 10 or 20 countries in the world and how to immigrate and settle there. It should cater to students willing to pursue higher education and also for people looking for jobs abroad and willing to settle there.😎😎😎
I left America 15 years ago and lived in 3 European and 2 Aslan countries. i even have now a passport from an EU country and I'm eligible for another passport from my actual country of residence in Asia. I miss my American friends but will never miss the political division of our citizens brought about by our clueless politicians.
@@OurRichJourney Aside from being first there is some useful information here. I've lived in Japan for 9 years and Korea 5 years so far. A shocker for me was going to the dentist... Talk about testing my limits. I plan on retiring in America when I"m done living abroad.
Leonard Carlson - No joke - the dentists in Japan here are extreme!!! I've never seen such a petite, tiny woman with such massive forearms. After she chiseled away at my gums and teeth for over an hour, I realized how she got her daily forearm exercises in! :(
