Tweet The number one reason people don't think of relocating out of the country is because of the assumed cost. People feel that in order to make such a big move you have to have 5 figures or more. And, well, this is not necessarily true. When I moved to Ghana I had around $5,000 USD. I know shocking, isn't it?
Now this didn't mean I didn't have other income coming in, it just means that is all the money I brought with me. One year later, I can tell you that is all that you need. With that money, I have been able to find a home and pay rent one and a half years, in advance, at the cost of $4, 471 and start a business, In fact, my standard of living has not changed one bit, despite me no longer making over $70,000.
So how do you also set this pretty situation up for yourself it simple. First, look at cashing out all of your retirement. I know it sounds extreme, but the way economy keeps going the American dollar is bound to deflate and when it does it means that 40k retirement fund will really be worth around 10k. So why not take a small penalty, take the money out and doing something worth your while. Hopefully, you live in a country that allows you to do this. Yes, believe it or not Americans, not all citizens have the right to cash in their retirement funds- aren't you lucky?
The next thing is to secure an income that is in a dominating foreign currency (US dollars, pounds, Euros). Now this maybe trickier for some. However, if you have purchased property don't be afraid to rent it out, even if your profit margin is small. There are plenty of countries where an extra $300 will take you a long way. Others may even be able to collect unemployment living outside of the country, depending on your States rules and regulations. You can also try to set up a small business that specializes in a special product from your new country; e-commerce has made international selling easier than ever before, so take advantage.
Now all you have to do is sell your belongings, get a visa and buy a plane ticket. I know it sounds impossible, but it really isn't. The one downfall is that this plan only works if you are recently unemployed (6 months or less). Once you have been out of the market for a while and your debt has started to pile up, the move definitely becomes a little more complicated- but not impossible.
So start your plan today to make a better future for tomorrow.