Sorry Sir! – No Safety Net Here?
Often there is no safety net provided by companies, or not much, when it comes to early retirement overseas … and expats are left to fend for themselves. It is a sink or swim environment.
Walk the Plank Laddie – to the Sharks I Say 🙂
Lost at sea with the sharks slamming the boat and they thought the end was near …. That was the headline that caught my attention when the story of 2 lady sailors who had been lost at sea for several months were rescued … they were safe but just barely survived on their diverted route to Fiji – they never got there.
Financial planning is often like that especially nowadays when it comes to retirement planning and investment – even while at home, not to mention the shark infested waters of retirement planning while overseas.
But what if you could circumnavigate the sharks … there is a fellow who had done just that, survived cancer and retired in his 40’s and can usually be found basking around the world in some tropical place like Mexico or beyond.
Millionaire Teacher? Stop Pulling My Wooden Leg! Aye, Aye Sir!
According Andrew Hallam, author of “The Global Expatriates Guide to Investing” and the international best seller “Millionaire Teacher – The Nine Rules of Wealth You Should Have Learned in School” the process just takes a bit of discipline, knowledge and planning.
In “The Global Expatriates Guide to Investing” Andrew teaches the readers how to analyze their needs, future retirement income goals and what kind of nest egg they will need to achieve those goals.
He illustrates how index investment funds with low fees, over the long term, beat the market and helps you retain your profits for even further reinvestment. Both books are written quite well with “Millionaire Teacher” giving more of his personal stories and “The Global Expat …” book giving more vignettes of other expats for illustration purposes and possible routes to investigate for various nationalities so they can find low index fund investment options. He briefly mentions investment rental properties as a possible part of the mix, but again the main thrust of the books is on how to save and invest wisely while avoiding many of the booby-traps prevalent in the investment industry.
The important thing is to start saving and investing wisely now as the power of compounding interest works best over long periods of time.
Along those lines of thinking go some of my favorite early retirement blogs listed below:
Financial Independence, Early Retirement, Retirement and Investment Basics – Retiring Overseas
- https://andrewhallam.com– author of “Millionaire Teacher” and “The Global Expatriates Guide to Investing” … frequent writer for the Globe and Mail
- http://www.mrmoneymustache.com– early retirement guru and thrifty living expert
- https://www.1500days.com– explore with Mr. and Mrs. 1500 days their journey to early retirement
- http://rootofgood.com– Justin retired at 33 and life is good
- http://www.millennial-revolution.com/invest/the-breakdown-part-1-god-we-were-spendy-back-then– Canada’s Youngest Retired Couple
- http://gocurrycracker.com/how-to-retire-in-your-30s – Go Curry Cracker retired in their 30’s and are experts in world travel hacks. Sited in CNBC.
- http://retireby40.org/early-retirement-blogs-everyone Retire By 40 chronicles RBF’s journey to Early Retirement and is quite popular on the net.
By CPO, From the Far Side of the Planet