In the last 24hrs I’ve been getting this specific question, “Will, can I really retire with a $1,000 a month?” Some believe its some sort of marketing ploy, but I can assure you – it’s not! I’m going to give you a brief explanation because I don’t want to type-out a whole book. I will have a full-length podcast to answer this question in more detail on our Compass travel/lifestyle Podcasts at:
I love producing podcasts – I find it more effective in educating the public than videos:) And, our followers/subscribers seem to prefer podcasts over videos…don’t worry – we’re still producing our travel/lifestyle shows for our video channels!
Let’s talk about housing. Living on $1,000 a month can be easily budgeted in 3rd world countries in Southeast Asia and parts of Central America. Some may say, “I don’t believe its possible, because I’ve researched online and all the housing seems high.” First of all, most listing online are on the high side because they’re marketing to UK & North Americans that make more money than your average local in these 3rd world countries. For example, you can find (fully furnished) 1 bedroom condo’s/apartments in Southeast Asia in the $200 dollar range. But, you will rarely see them in online. What does this mean? You need to go to the country and hook up with a local realtor/property management to find these…and trust me – there are a bunch! We will talk more about how to find housing in our podcasts and videos.
With this example, $200/mo goes towards your housing, you now have $800 for other expenses. I’ve been living abroad for over 15yrs, and I’ve never purchased my own vehicle…I use public transportation. It’s inexpensive and safe! Also, in these countries, I have the pleasure of never having to cook for myself. My average meal in Southeast Asia is around $1.50 – 2. These are no bullshit numbers – this is very real! The food is healthy and damn good! Local healthcare is a fraction of the cost compared to the US. I can walk into any pharmacy if I’m sick with no wait…or co-pay! I don’t have a gym membership because the buildings I live in have a nice gym. If I want to see a new run movie I pay an average of $2-3. If I want to hangout at a coffee shop – my double shot espresso or cappuccino is $1. Asia is a non-tipping country, so there’s also another cost saver. If I want an hour massage – I will pay between $7-10…I usually get a massage 1-2 times a week. I’ve never felt like I’m sacrificing any part of my life living in these countries!
Head to our channel on Soundcloud and iTunes to listen to our latest podcast. Soon we will have a dedicated podcast for those seeking early retirement for $1,000 a month. And, families looking to move abroad.
“Retirement is not about scraping by and sacrificing. It’s about rewarding yourself for a life of hard work!”
CEO | Compass Group International