Wow.
Big changes ahead for me. And these changes have major implications on the rest of my life.
At the end of September, I’m relocating to Chiang Mai, Thailand for the foreseeable future.
It’s exciting on one hand. Scary on the other. But I’m thinking a lot more about the former than the latter. It’s the optimist in me.
I poked around the city for a little bit almost 18 months ago. I was honestly mixed on it. However, my perspective was framed around the idea of just visiting the place and seeing what so many expats, digital nomads, and early retirees saw in the place. I was pulled to the area by others’ experiences rather than my own genuine desire to be there, which soured my own experience. Plus, I was looking at the place more in the short-term sense, as I had a life back in the US to attend to.
However, a few things have changed since last spring, most notably the ending of a truly amazing and successful relationship.
And as a situation changes, options change… one’s perspective tends to change… ideas change.
That all led me to where I’m now at, which is on the cusp of moving overseas and becoming a dividend expat.
So there are two big reasons (among some other reasons) I came to decide on this.
As I often do, I think of life and its collection of decisions that come up daily in both quantitative and qualitative terms.
I’ll go over the quantitative reason first. And then I’ll go over the more qualitative reason.
Lower Cost Of Living
This one should be fairly obvious.
As I wrote about before, becoming a dividend expat can present major financial benefits.
There’s the much lower cost of living, first. You also have the potential to lower your tax bill. And significant reductions in one’s healthcare expenses (even for those who are relatively healthy and don’t even use the healthcare system in the US) is another big consideration.
These benefits could add up to thousands of dollars per month, depending on your situation. As such, moving overseas could dramatically speed up the time line to financial independence/early retirement (assuming you’re moving to a low-cost locale).
I’ve already locked up a one-bedroom apartment in Chiang Mai. The apartment, which I’ll write a post about in a few weeks (after I’m there), is somewhere around 60% to 70% less than what the equivalent would be in a similar city here in the US.
This apartment is in one of the most walkable and dense parts of the city. It’s furnished. It includes cable and wifi. There’s a pool and a gym. It has fingerprint access.
And it’s a little over $400 per month.
I’d actually have a hard time finding a room for rent here in the US in the same price range as what this apartment in Chiang Mai costs. And that room probably wouldn’t even be in a city I’d like to live in.
While housing is likely going to be the biggest cost savings to living in Chiang Mai (and a lot of other cheap cities around the world), the overall cost of living – pretty much across one’s budgetary categories – is almost surely going to be a lot lower. How much lower depends on what one does with their money.
I’ve been spending some time looking at housing in a few different areas of the country, as I have to move. I’m in a similar spot to the one I was in back in 2009 – I’m facing down the reality that the place I’m currently in isn’t best for where I want to go moving forward.
Just as I believed Florida was more conducive than Michigan to achieving financial independence back in 2009, I’ve come to believe that other places are more conducive than Florida (or at least Sarasota) to maximizing financial independence right now.
Well, I’ve just been somewhat unimpressed with the value of housing across the board.
Some US cities are way too expensive for ordinary people. Others appear to be overvalued, especially compared to just a few years ago. While there are some solid markets in pockets (like, say, Tucson), these are areas that I’m going to pass on for right now. I considered doing the roommate thing for a while, but rooms in cities I could see myself living in are, in my view, not great deals.
Since I’m just as geographically independent as I am financially independent, I started to look at opportunities across the world, rather than just what’s available here in the United States.
See, I seek out value in everything I purchase (be it stocks or socks). Even if I were a billionaire, I wouldn’t pay more than I should for my housing (or anything else).
Once I broadened my horizons, the options became incredible rather quickly.
Living on ~$1,200 per month here in the US can be tough (but certainly doable, as I’ve proven), even for a veteran of frugality and minimalism like myself. But I can do it without even trying in many other parts of the world, including Chiang Mai. That naturally increases my flexibility and freedom, which directly relates to my happiness.
I could spend a lot more (as I make a healthy income from writing). But it wouldn’t make me any happier.
Relationships
This is the other half of the equation for me, which is just as important as the lower cost of living.
America is the land of consumption. Being so, there are certain expectations that a lot of women here have. And these are expectations that I can’t meet, nor do I particularly want to.
However, Chiang Mai (and places like it) changes that dynamic rather considerably.
Chiang Mai is a city where people are more in touch with the basics. After all, this is a place where many people ride scooters and eat $2 street food. It’s just a totally different world with vastly different expectations. Plus, I sometimes wonder if the Buddhist mentality lends its hand to judging people based on the content of their character rather than the content of their wallet.
Of course, due to the geographical arbitrage involved with earning in dollars and spending in baht, ~$1,200 per month in Chiang Mai provides for a lot more local purchasing power than $1,200 per month would in the US.
One becomes relatively wealthy almost instantly. So that also impacts others’ perception of you, like it or not. It’s a lot easier for me to meet some expectations when my cost structure is so different. It’s a shame I have to put money and relationships in the same conversation, but they’re often inextricably linked.
I believe (although time and my writing/sharing will tell) that my odds of meeting a wonderful woman to build a long-term relationship with will be better elsewhere, based on who I’ve become and what I want out of life. In fact, I think Claudia and I worked so fantastically for so long largely because she’s not American.
Isolation is, in my view and experience, one of the biggest drawbacks to early retirement/financial independence. Likewise, I believe love is worth far more than money.
And so the thought of spending more money than I should bothers me enough. Potentially being alone for an extended period of time on top of that is salt in the wound. Being able to possibly kill two birds with one stone seems advantageous to me.
Furthermore, it’s not just a long-term relationship I’m after.
Friendship is also really important to me. And it’s tough to find people here who think outside the box like I do. Most people my age in America are knee-deep in careers and more typical lifestyles.
The more I live this lifestyle, the more “outside the box” I think and become. I become even more committed to these concepts as I prove them out and experience the benefits firsthand.
This moves me further and further away from the old me – the one who could empathize a little more with people walking more typical life paths. It thus creates distance and isolation.
Well, there are a lot of young people doing really exciting things in places like Chiang Mai. They eschew the typical, instead living more minimalistic lifestyles that are supported via passive income and/or online income. There’s some common ground there, which is exciting in its own right. It’s a greater pool of like-minded people in a pretty small area. And I think that sets up more opportunities for serendipity.
Conclusion
Will this work out?
Time will tell. I’ll write about it and share as I go. So we’ll see. But I’m optimistic.
The good news is that I can always come back. My US citizenship isn’t going to be dissolved. If things don’t pan out, I can come back… or I can simply try somewhere else. Thailand has many different places to see and try, as does SE Asia in general. And there are actually some really fantastic cities in Eastern Europe that provide high quality of life at tremendous values. A lot of options out there.
But weighing those options out, I’m not sure that staying here in the US is the best choice. At least not right now. With high costs and high expectations here in America, I think my lifestyle, and financial freedom as I envision it, could be more robust elsewhere for the time being.
I’ll be updating you readers as I go. I plan to take some pictures and show the apartment soon after unpacking what little I’m bringing. And then I’ll release a full monthly dividend expat budget very soon.
So stay tuned!
What do you think? Ever thought of moving overseas and becoming a dividend expat once you’re financially independent? Interested in geographical arbitrage? Why or why not?
Thanks for reading.
Image courtesy of: akiraone at FreeDigitalPhotos.net.
P.S. If you’re interested in achieving FIRE, or if you’re interested in moving abroad, check out some awesome resources I personally used on my way to becoming financially free at 33 and moving abroad to live out my early retirement dreams!
Welcome in Chiang Mai
Mastro,
Thanks so much. Excited to make it my new home for the foreseeable future. 🙂
Cheers!
Fairly surprised to read this, to be honest. Actually checked the date 😉
I remember your reaction last time, so I hope you enjoy it more this time round.
I’ve spent about 2/3 of my life overseas, and can’t imagine returning to the UK to live, so I’m a big fan of location arbitrage.
Love Thailand and Chiang Mai. Looking forward to hearing how you get on 😀
sendaiben,
I didn’t go for the right reasons last time. It was my mistake more than anything else. And I was in a very different life situation back then. We’ll see how it goes, but I’m very excited this time around. Plus, there’s a sense of familiarity now that I didn’t have before. It won’t be as big of a shock. 🙂
The two biggest issues I see are visas and the language barrier. But I think have a plan for both, as I’ll discuss as the journey unfolds.
Thanks for dropping by!
Best wishes.
Moving to Thailand – how does it work with taxes? And are there any transaction-fees if you for example move money from your US-bank-account to a local one?
Adam,
I discussed dividend expat taxes a little bit here:
https://www.mrfreeat33.com/three-reasons-why-you-may-want-to-become-a-dividend-expat/
Obviously, one’s individual tax situation is going to vary. So that’s really up to you to zero in on.
As for transaction fees, you simply have to make sure your credit card and debit card both have zero foreign transaction fees, as I’ve done. When I was there 18 months ago, I paid $0 in transaction fees. I’ll discuss that more once I’m over there.
Cheers!
Wow! Great choice for a new home. Amazing weather and even better food.
Hope it works out for you.
Will you have to pay witholding tax now on your US dividends?
Good luck.
MP
Matt,
The weather is pretty strong in CM, although it’s better here in SW Florida. It’s a bit cooler in the winter, and it’s not quite so hot at the peak of summer in FL. But it’s really a minor issue. As long as I’m not freezing in January, I’m a pretty happy camper. 🙂
Dividend taxes work the same regardless of where you’re living. They don’t fall under FEIE. So you’re still at $0 for qualified dividends as long as you’re within the 15% bracket.
Best regards!
This is amazing!!! I wish you the best!! I am so looking forward to the expense reports as well as pictures!! Best of luck to you buddy!!
FV,
Thanks, man! 🙂
Pictures and an expense report will soon follow. The first thing I plan to share is the apartment. I have it reserved, so I hope it’s still there when I get there. Super excited to settle in and see how things go.
Cheers!
Hey Jason! Congrats. Hopefully you remember my visit with you in Starbucks a number of months back (with my 2 older friends). We still marvel at the life you are leading, and am excited for what the future holds. Just out of curiosity, did you look at any of the central / south american countries? So many Americans are moving to Mexico, Costa Rica, Columbia, Bolivia, etc etc. Knowing you, you have. Let me know! Again, beyond excited for you. Andrew
Andrew,
Yeah, that was a great meetup. I had a lot of fun. Hope you guys did, too. I really enjoy those long conversations, which can be (unfortunately) really rare. My desire to have more interactions like that is one big reason for the move. I just don’t get opportunities like that here very often. More like-minded people elsewhere.
That’s a good question. I took a look at the entire world. Central America and South America would sure be a lot easier, logistically. The problem with the Americas is that it’s really dangerous. I mean, the crime rate for many of these countries (and especially in the cities) is outrageous. Plus, it’s not as cheap as SE Asia. And outside of Mexico, I wouldn’t even enjoy the local food as much (although it’s not like I’m a fanatic for Thai food). All in all, I think Thailand (and a few other places in that region of the world) offers the most advantages with the least number of disadvantages, but to each their own.
Thanks for dropping by. Hope all is well!
Best wishes.
Wow, I gotta say that this is awesome!
I’ve followed you practically from the beginning @ Dividend Mantra, and you’ve been an inspiration to me to do something similar. I actually became an expat back in 2004, choosing Costa Rica as my new home. They gave me citizenship a few years ago and it feels really awesome, like James Bond/Jason Bourne kinda stuff. Having 2 passports, bank accounts, all that good stuff.
I hope you make it. Expat life isn’t for everybody. The biggest problem I still deal with is making expat friends and then having them leave.
Steve,
Thanks so much for following along. Really appreciate it! 🙂
That’s great that life in CR is working out so well. I agree that expat life isn’t for everyone. It remains to be seen if it’s even for me. A lot of drawbacks to it, but I think the benefits outweigh them for me right now. The COL is one thing, but the different expectations is perhaps even more of a consideration. I just don’t want anything to do with a “typical” life. And I’ve become even more “atypical” as time has gone on.
I know that people coming and going will be a big challenge over in Thailand, too. There are a lot of digital nomads there. As one can surmise, they tend to be nomadic. We’ll see how it goes, but I think almost anything (even more ephemeral encounters) will be better than what I have in Florida. If you’re not in a career or retired in your 70s, there’s not much room here.
We’ll see how it goes. I’ll be sure to update and document as I go!
Cheers.
Jason –
WOW. Talk about a flooring article. Excited for your journeys, as life decisions are up to you and I do feel like you’ll be more flexible, it seems, over there. Will your tax be much different, than, as well compared to here? Have you already booked that “one way” plane ticket? haha. Would love a financial analysis of the Florida vs. Thailand picture, it would be very cool to see.
Keep us updated, don’t stop writing and looking forward to following your adventure.
-Lanny
Lanny,
Plane ticket is booked and paid for. Apartment is reserved. Will be ready to rock next week. 🙂
The tax picture will be a little more advantageous, as I’ve written about before. The major benefit is obviously the FEIE. I won’t have to pay federal income taxes on my writing income any longer. The bummer is that there’s still the self-employment tax. That won’t go away. However, I won’t have to have health insurance any longer, which is great. I’m actually canceling that on October 2nd. All in all, it’s a nice chunk of change, which is on top of the massive difference in COL. Geographical arbitrage is no joke.
Will definitely post updates as I go. I plan to release a budget for October, so that should be interesting to see how the costs break down. I’m probably even more excited about the long-term lifestyle change, though, as I think it’ll be easier to forge relationships over there.
We’ll see how it goes. Very excited!!
Cheers!
Fair play to you Jason. It takes balls to move overseas (especially a new continent) and start over again…exciting times ahead.
Tasty fresh produce, cost-effective transportation, cheap domestic flights and friendly locals await you : )
The incredible thing is, the mindset changes with a new environment. We gear shift. The stress levels drop. We become stronger and gain a different perspective with fresh ideas (as you already know).
So, I love geographical arbitrage. I spent 18 months living/ working in Asia and a good chunk of my adult life overseas (cost cutting most of the time).
Hence, your post resonates with me. Good luck and enjoy!
thecannycontractor,
Indeed. My perspective is quite different from the average American’s anyway, and this move will only serve to widen/reinforce that. Plus, it’ll only add to the flexibility and freedom I’ve already built here. I’m financially independent in the US, but only barely so. However, I become extremely wealthy and free as soon as I step off the plane over there. Since I plan to eventually give away most/all of my wealth, this will only add to how much change I can eventually effect, all while enjoying my life more along the way. It’s a win-win. 🙂
You obviously know what it’s like over there. A very different world. Certain benefits and drawbacks, but I think it’s more advantageous than disadvantageous for me at this time in my life. We’ll see!
Thanks for sharing that.
Best regards.
I’ve followed you for years now & find I’m not at all surprised by this decision. In fact, it makes perfect sense. My son spent a summer in his college years as a volunteer teacher of English in Chang Mai & he loved it there. I’ll continue to follow you for as long as you see fit to share your adventures & ideas. Best of luck!
Chris,
I guess it was a natural evolution for me. I wrote a few articles at Dividend Mantra about geographical arbitrage/retiring overseas. And I even remember investigating Thailand back when I received a small inheritance at 21. I thought I might be able to make it last a really long time over there. Of course, I instead ended up spending it all, learning some hard lessons in the process. But I’ve come full circle. 🙂
Should be fun. I know what to expect this time around. I don’t have any obligations/commitments here in the US any longer. And I’m going for the long term this time around, so we’ll see how it goes.
Hope you enjoy some of the new content/adventures.
Best wishes!
Wish you all the best Jason 🙂
Waiting to hear more about your new life in Chiang Mai. As a Canadian, first thing to hear is about weather 🙂 .. Already started to think about winter here 🙁
FJ,
Man, I must say that I don’t miss winter for a second. I very occasionally yearn for the changes in seasons a bit, but I always found seasons overrated anyway. Spring is cold and wet. Fall is cold and wet. Winter is colder and wetter. I can do without it.
But I don’t necessarily think CM is a big improvement over FL in terms of weather. It’s hotter over in CM. If you like the heat, that’s great. I prefer the more moderate summer heat and slightly cooler winters in FL. But whenever I’m sweating a little more than I’d like, I’ll just remember that I’m paying a little over $400 for rent. 🙂
Plan to write a lot of content about the new life/adventures. Stay tuned!!
Cheers.
Hello Jason, I wish you all the best in Thailand. Friendly people and fantastic food. This is a massive game changer in your strategy towards financial independence but also (hopefully) in search of happiness! All the best. Cheers from the Netherlands, Roy.
Roy,
Thanks so much!
Yeah, it’ll be huge. I’m already financially independent here in the States, but it won’t be as tight over there. While I actually earn significantly more in active income than passive income, I don’t plan/want to spend any of that. Living over there will provide that much more freedom and flexibility, which maximizes that which I’ve worked so hard for. 🙂
I’ll be updating everyone as I go. Should be very interesting!
Cheers.
Hi Jason,
I’ve been following you since Dividend Mantra, as well.
Best wishes in this new endeavor. It really sounds exciting, and I am sure you will meet many thoughtful and interesting people who you will have a lot in common with.
It can be difficult for INTJ’s……lol.
I suspect St. Pete’s might be an outlier – and there would be other places in the US you would love too.
May G-d guide and watch over you on this exciting journey.
Kindest wishes,
Sam
Sam,
I think I’ll meet some interesting people. I hope so. I definitely witnessed a lot of younger people over there doing what I do. Totally different from in the States, where most people my age have no idea what I’m talking about. There’s just more common ground there. A like-minded vision on life, more or less. The issue will be, as you alluded to, reaching out and making friends. Fortunately, the Internet makes that a lot easier.
There are places here in the US where this lifestyle as I envision it would be easier than where I’m currently at, but I’m not sure these places would be so significantly different to where the much higher COL would make the stretch worth it. And if I’m spending too much, I’m no longer financially free, negating everything I espouse and believe in. This move kills two birds with one stone, affording me more quantitative and qualitative opportunities. 🙂
Thanks for all the support. I feel pretty good about this one, so we’ll see.
Best wishes.
Wow, all the best with this exciting move! I’ve only stayed in Thailand a couple of weeks at a time, so not sure how I’d feel about living there longterm. Sounds like you have all the accommodation etc sorted at a great price – good luck!
weenie,
Thanks!!
Yeah, Thailand (or any other country) isn’t for everyone, nor is moving abroad/becoming an expat. One should naturally be living in a way that makes them happiest. If I thought staying in the US would do that for me, I’d stay. I just think it’s more advantageous elsewhere. 🙂
Very excited to show off the apartment. The value (at least relative to what I’m used to) is incredible.
Stay tuned!
Cheers.
I hope this works out for you. I’ve long been fascinated with the lives that expat guys live over there.
Will your skills as a PT be marketable there?
Fred,
It should be really interesting. I had a sneak peek at it 18 months ago, so I know what to expect this time around. It can be as crazy or as tame as you want it to be. I’m certainly more of a laid-back kind of guy, and the city (and country) can more than accommodate that.
As for personal training, I won’t be working any kind of jobs over there. That would be silly. The cost structure that makes geographical arbitrage so advantageous works the other way around (i.e., against you) if you’re trying to earn money in the local currency. I’ll never understand people who travel halfway around the world only to go get local jobs and make very little money. But to each their own.
Cheers!
Hi Jason – I have followed you for a long time. I have seen your search – your life’s story – your going back home – the disappointment and then back to Florida and marriage. I was saddened when your marriage did not work out but encouraged that your search goes on. I appreciate that you share your story with all of us and I am looking forward to where your feature leads. You are braver than most so your adventure will be fun for all of us that are too old to travel. I pray you find what you are looking for.
Pat,
Thanks for following along all this time. I really appreciate that. Grateful to have supportive readers like yourself. 🙂
Yeah, it’s a shame that Michigan turned out to be so disappointing. I put a lot of faith in people – and they let me down. This time, it’s all on me, for better or worse. I know what to expect, and I’m going for the right reasons. Of course, there’s still a lot that can go wrong, so we’ll see. Either way, I’ll be sharing as I go.
I’m not sure I’m “looking for” any one thing, other than happiness, personal fulfillment, and the constant striving toward my potential as a human being. Life is dynamic. We should be constantly growing, learning, and changing. As that process plays out, our choices should reflect that. As such, personal fulfillment is a moving target. For now, I’m really happy with my decision to become an expat (due to the reasons I laid out). But I may decide to do something totally different five years down the road. That kind of flexibility and freedom to do whatever I want is one thing I love about financial independence. I don’t really have to settle.
Best regards!
Jason, honestly I hope everything goes well in your new relocation. Is good to have your Dividend Machine following you and be able to cover all your expenses. With costs cheaper there I’m sure you will enjoy life better. With internet technology you are only a few clicks on your desktop keyboard away from us. You are been a great blessing and mentor in my own pursuit of financial freedom. Keep all of us posted on your new journey. Take care; your friend from West Palm Beach Omar Fuentes.
Omar,
Thanks, man!!
Yeah, I’m just a few clicks away from everyone, just like here in the US. In all honesty, my life shouldn’t be too much different. One great thing about the Internet is that it’s borderless. I can do all of my online stuff there just like here. Just need a VPN, which I already have. I log on, manage my investments, write, etc. It really normalizes things. Of course, I’ll be sure to use that opportunity to update everyone on the ups and downs of the new lifestyle. 🙂
Hope all remains well over there in WPB!
Best wishes.
Hi Jason,
I’m very excited to hear this news and wish you the best!
As an 11 year expat in the region, I’d offer the following advice:
1. Keep your drivers license.
2. Keep your US based credit card, and link it to auto-pay on your US based bank.
Best of luck in your move.
-Mike
3. Having a correspondence address in the USA is handy – especially if it is a residence of a close friend or relative you can trust.4. It’s good to make the move abroad from a no income tax state, such as Florida.
5. If you are going to apply for an educational visa, I’d suggest trying to make your first trip into the country on a non immigrant visa (single entry) if you have enough time. Then you don’t have to leave the country to get the non immigrant visa prior to changing to an educational visa (I think this is the correct logic from past experience- it’s worth re-checking).
Mike,
Thanks for the advice!
I think I’ve already got all that locked down. The money and finances are already figured out. And I’m of course moving from Florida, making the tax situation as advantageous/easy as possible. I actually plan to write an article pretty soon highlighting some services/products that make this lifestyle pretty easy.
As for the visa, I’ll have a couple months to get the ED visa figured out. Well, it takes a couple weeks or so to get things lined up, so I’ll have to start the process somewhere around the end of my first month. That should get me to the end of 2018, upon which time I can reassess and decide whether or not I want to stay. Lots of options, so we’ll see how it pans out. 🙂
Thanks again!
Cheers.
It’s going to be weird seeing you online on F/B during US daylight hours. Hope this works out for you. I’d be looking at location arbitrage opportunities if I didn’t have family in Houston.
FV,
Ha! I’ll be on there more often in the morning due to the time difference. Not often online at, say, 8 a.m. since I’m usually still sleeping. 🙂
We’ll see how it goes!
Cheers.
Great post! I’ve been planning my eventual relocation to South America for similar reasons. I actually wondered once why you didn’t do this and I’m selfishly looking forward to reading your new posts from abroad! Congrats Jason, best of luck overseas in all areas of life!
I have a new series in my blog called “Five for Friday” in which I highlight five of the best FIRE links from the preceding week. I already know this is one of them. Mind if I like to this? Thanks!
Moose,
I suppose maybe it was an eventuality for me to try this, but I had (up until earlier this year) commitments and responsibilities in the US. Now that I’m in a different spot in life, this seems like the most logical and advantageous path forward. I’m very excited to experience and share new adventures. 🙂
You’re more than welcome to share and link. I really appreciate that. Hope your readership enjoys the article and finds some value in it.
Best regards.
Jason,
Definitely caught off guard with the decision, but in hindsight I guess I shouldn’t be. I’m excited to follow your budgets, updates, and stories about being an ex-pat. You said it best. Will it work out and will you love it? Only time will tell. But you are going for it. Regardless of whatever happens, you will not be asking yourself what could have been or kicking yourself for missing out on an amazing opportunity. There will be no regret in passing up this opportunity. At least you will know. You will love it, you may not like it, or it could be an average experience. But at least you are going to take the leap of faith and figure it out yourself. Best of luck in this new life experience and adventures in Thailand.
Bert
Bert,
Absolutely. I can always come back. I suspect that I’ll be overseas for at least the next 3-5 years, but it’s tough to say beyond that. If I still like it, I’ll stay. If I don’t like it, I’ll try something else. Financial independence allows an incredible amount of flexibility and freedom in life, which is something I’m so grateful for. I cherish it so much that I’m aiming to further maximize those benefits via this move, while simultaneously improving my odds at meeting like-minded people. 🙂
Thanks for dropping by. I’m excited to share some of the new experiences and adventures!
Cheers.
Congratulations Jason! Very exciting news. Enjoy the food, and the friendly people! I love Thailand! You will be a local there in no time. Keep us all posted. I may have to come visit you as our Canadian winter kicks in.
All the best,
Derek
Derek,
If you ever make it over, and I’m still there, definitely send me a note. I’m always up for meeting over coffee or something. 🙂
Appreciate the support. No matter what happens, it’ll be interesting!
Best regards.
This is incredible, I’m happy for you Jason and hope it works out well! Either way, this will be an incredible life experience and one you’ll never forget. Wishing you all the best on your move and I’m looking forward to reading blog updates 🙂
FPP,
Thanks!!
You’re absolutely right. I can always come back. I mean, Thailand isn’t my only option. So if for whatever reason I just really don’t enjoy myself over there, I have other places in mind. But if nothing works, then I just come back. It’s pretty simple.
Definitely excited to update everyone on the new adventures, experiences, and perspective. Should have a post out on the apartment shortly after settling in. 🙂
Best wishes!
Hi Jason,
iam reading often here, but its my first comment now.
My goal is the same like yours being more or less financial free, but iam still working on it.
But I did some different decisions in life than you and explored some interesting destinations in the world (to live there later most time of the year) many years ago, before reaching (or really aiming) for financial freedom.
I have been in Thailand of course too, as its highly recommended by many other people – but for myself I found out when I was there, its not the place I want to stay for long time – its more party place (in my opinion, Thailand fans dont flame me for this please).
However, I found places in south america much more interesting for me, my favorite is Paraguay.
You have the time and money to explore many more places and choose in the end – did you visit other warm & cheap places on earth already?
Iam just wondering a bit, because just as the bit I know from you out of what you write and I read, Thailand is in my opinion not what I would expect you to move to, its not really fitting.
But of course its your decision and I dont know you that good to really have an opinion about that, that you should take care about. In your situation, deciding to leave US, I would explore other parts of the world for months. You can do so next year f.e. if you dont like Thailand anymore of course too 😉
Just wondering =)
-had to split my comment due to browser issues-
Michael,
Well, Thailand isn’t for everyone. I’m not 100% sure it’s even for me. But as I noted in the article, there are a lot of options on that side of the world. Thailand is, in my view, a top choice, but it’s far from the only choice. I’m going to give it some time. I want to meet some people, settle in, and really give it a go. But if I just don’t find myself happy there, it’s as simple as booking a cheap flight elsewhere. Not hard. But when looking at benefits and drawbacks, Thailand is pretty advantageous. The culture is really different, though. And that might be the big sticking point. We’ll see. Time will tell. I’ll be sharing along the way.
I did want to note on that “party” comment: Thailand is a big country, with lots of places to be. Chiang Mai is about the last place you’d want to go if all you want to do is party. If you want to go crazy, that’s great. Have at it. But you’d be better served in places like Bangkok, Pattaya, etc. Chiang Mai is a laid-back town in the mountains filled with digital nomads and locals.
As for South America, I just don’t care at all for staying on this side of the world. I’ve visited Central America a few times now, and I liked it a lot less than Thailand. It’s more expensive and far more dangerous than SE Asia, but to each their own. If you’re happier there, then that’s exactly where you should be. 🙂
Thanks for dropping by. Hope you enjoy the new updates that will be coming online pretty soon!
Cheers.
Hi Jason,
I will keep following your way through life of course and iam sure it will be very interesting what you will write from Thailand.
I have not been in Chiang Mai, thats true, I have been in Bangkok, later travelled along the coast south to Surat Thani and was living some time on Ko Samui. Its same country but different locations, and different persons with differenz experiences. For example, I most of the time did not feel safe in Thailand, besides very difficult language to learn that was one of the most negative points to me – in SA I felt safe like never before. But f.e. food was very good and cheap in Thailand 🙂
Everyone has its own feelings and experiences, can be so different…
I wish you all the best and hope you will enjoy the time there! And maybe/hopefully we will meet each other at some point of time when I get my financial freedom too, whenever and whereever that will be on earth 😉
Stay as you are & keep blogging =)
-split again-
Michael,
I do hope/plan to see some of the islands in the south, including Koh Samui. 🙂
I agree with you on the language barrier. While I don’t expect anyone over there to speak my language (it’s their country, after all), I thought English might have been a little more prevalent than it was. It seems like some people make it out to be like English is more common than it actually is. That’s why I mentioned that the cultural difference (which includes language) is a sticking point. But nothing is perfect. Always trade-offs. And speaking the “same language” actually isn’t all that helpful over here if most people aren’t at all interested in life as I envision it. Doesn’t help that someone speaks English if we have nothing in common. All in all, I think the trade-offs there are better than the trade-offs here, at this present time.
If you ever find yourself FI and in Thailand, do look me up (assuming I’m still there).
Cheers.
Wow, Jason I didn’t see this coming, but I am excited that you’re getting this opportunity in life. The hard work you put into investing in the past is really paying off for you, awesome. I wish more people took advantage of the opportunity to invest into stocks so they too can have a better life financially. I have no doubt that your cost of living will be less. one of the reason I think about moving abroad my self. I can’t wait to read about your adventures in Thailand. From what I am reading and watching on youtube, more and more men are going to overseas to find good women. If you are looking for a woman to spent time with I am sure you will be able to find a good looking woman with a great attitude. Best of luck i am sure you will be successful in all your adventures. please keep us updated. again 2 thumbs up way up on this move in your life Jason.
Cheers
Michael,
Ha!! Yeah, there are a lot of videos (and content in general) about, well, I’m not sure what to call it. A “movement”? A lot of guys move elsewhere because they’re just not interested in certain expectations and what not here in the West. Some guys rail against feminism. Some want a more old-school male-female relationship. So on and so forth.
For me, I just don’t have any desire for the typical “American Dream”. That’s more of a nightmare for me. As such, it doesn’t make much sense for me to continue paying the high costs of staying here. I won’t have to worry about finding someone who’s frugal over in Chiang Mai, as living cheaply is natural over there due to the different lifestyles and cost structure. I don’t have to explain myself, endlessly searching for that one woman over here who shares my vision. And even if I have to support a partner over there, it’s a hell of a lot easier when rent is $400 per month. Dating is perhaps one of the most challenging aspects of this lifestyle here, but that challenge is largely solved by moving elsewhere.
Appreciate the support. This is going to have a major impact on my life, one way or another. So it’ll be fun to share these new experiences with everyone. 🙂
Best regards.
Wow! Huge news, my friend. I’m wishing you all the success in the world with your big move. So excited to follow along and track your journey, and totally sounds like you’re making a solid decision and following your heart!
Best,
Ian
Ian,
Appreciate it very much. Thank you!
I’m definitely following my heart. In fact, it’s my heart (more than my wallet) that I’m thinking of with this move. I anticipate difficulties with finding the right relationship here. But I think that’ll be a lot easier elsewhere. And I also believe that finding friends will be a lot easier over there. It’s just a big lifestyle call, so we’ll see how it works out.
Hope all is well! 🙂
Best wishes.
Congrats, Jason. Great decision. Don’t limit your self to this one location. Due to your financial independence you can live all around the world. The world is yours 🙂
P2035,
Indeed. Financial independence is often geographical independence. 🙂
I’ve looked pretty heavily at just about every option out there. Thailand is, in my view, one of the more advantageous locations, but there are some other places I have in mind. If I don’t find myself extremely happy in Chiang Mai, it’s a simple and low-cost flight elsewhere.
Thanks for dropping by!
Cheers.
Stay safe Jason, America and Americans are not some people’s favorite individuals right now.
Derrick,
I’ve never felt safer than when I was in Thailand last year. Their crime rate is remarkably low.
Cheers!
C’mon, people. We just know Jason is going over there for them Asian chicks 😉
Just kidding. Very excited for you! I have a friend who is a big world traveler (unlike me, who’s never been out of the US) and he very much likes Thailand. As a matter of fact, he’s on vacation there right now! I have a feeling you’re going to enjoy living there too. It really seems to be the right move for you. I wish you the best.
Sincerely,
ARB–Angry Retail Banker
ARB,
Ha! Well, I mean, why else would I go?! 🙂
Yeah, it should be a lot of fun. The more I think about this, the more confident I am that this is the right move. There’s a lot to love about living in the US. Don’t get me wrong. It’s just that I feel like I’m paying a high price to access something that doesn’t make a lot of sense for who I’ve become.
We’ll see how it goes, though. I’ll be sharing the good and the bad, as I usually do. Plan on showing pics or video of the apartment first. Maybe within a couple weeks.
Thanks for dropping by!
Best regards.
Wow, Jason! What an interesting turn of events. I guess you have many more options once you reach FI. I’m looking forward to following your journey.
I can also understand understand your struggle to build relationships with people that aren’t completely overtaken with consumerism. I can’t quite seem to understand what appeals to people about new vehicles, big houses and the need to be constantly entertained.
I wish you the best on your journey! I’m looking forward to seeing how your mindset changes as you continue blogging. Take care!
Graham,
Absolutely. That’s really it. It comes down to running into that fundamental difference in how we look at life and what we value. The effort I’d need to expend trying to find someone who gets and supports this lifestyle is far in excess of what I’d be willing to part with. Moreover, I’m not interested in “selling” this to someone. And so I readily admit that finding someone pretty similar to myself is going to be extremely difficult. Paying a bunch of money to live in that kind of environment seems nonsensical to me.
I’m also excited to see how the perspective changes as I go. This blog is a living, breathing testament to financial independence. What better way to showcase that then with something like this?
Thanks for adding that!
Best wishes.
Hey Jason,
wow, that’s a change and to be honest i was surprised at first cause i remembered how you described Sarasota/Florida as a warm, nice and sunny place to live. (and when i think about the weather here in Germany, Florida seems to be close to paradise). A few years back i thought about buying a condo in Fort Myers as a rental property, maybe for vacation too, but in the end i changed my mind. I have some time to go until retirement and don’t want to decide now.
But as i read your post it was easy to understand you decision. Thailand is an adventure, but i think it’s a place which fits to your lifestyle and situation.
Wish you all the best and a good start in Thailand!!
Keep it up!
DividendSolutions
DS,
Sarasota has been really good to me. And it’s a great place to live… if you’re a more typical person, or if you’re retired in a more traditional capacity (i.e., you’re in your 70s). It was just a fantastic place to help me achieve financial independence, but I’ve come to realize it’s not the best place to help me maximize financial independence. Those two things are not one and the same.
But I am looking forward to living in a place where frugality comes naturally and people are fairly open-minded when it comes to living more atypically. It should be a lot of fun. 🙂
Thanks for the support.
Cheers!
Jason, I’m interested to see how this journey pans out for you. This is something that I have considered, but nothing I would do in the near-term. I followed you since probably early 2014 when your main site was DividendMantra, so it’s crazy the amount of changes that have transpired for you in the past few years. Good luck!
-HP
HP,
It’s definitely not for everyone. But I think the advantages outweigh the disadvantages, especially in terms of building out one’s social circle and love life. If this lifestyle (frugality, minimalism, financial independence, etc.) were more common in the US, I probably wouldn’t be leaving. But I feel like a stranger in a strange land here.
We’ll see how it goes. I plan to share insights, adventures, and experiences as I go. 🙂
Thanks for stopping by!
Best regards.
Jason- I can’t say I am surprised. I knew that this would happen sooner or later after your break up. I was surprised it was CM given your luke warm reported experience there. I am excited for you and your readers who get to vicariously live your journey. I am looking forward to reading about your new adventures!
Scott,
I suppose this was an eventuality for me. The value just isn’t there for me here in the US. To pay a high price to be around people who are operating in a different universe just doesn’t make sense. In many ways, I have more in common with people in a place like Thailand than I do with my own culture here in the US. How funny is that?
I’ll make sure to document things as I go, for better or worse. I’m feeling very confident about this, though. 🙂
Best wishes!
Wow, cool news. Who would have thought that, hehe. That’s my plan for the future too… in about 8 years, in my early 50ies.:) I love the streetfood and the relaxed people there and the tropical weather is exactly what my slowly withering body needs ^^. Im really looking forward to read about your Chiang Mai experiences including health insurance, visa and other expat stuff… (you need to be 53 years old to get a retirement visa, if im correct. so whats your plan? getting an educational visa and learning the language?) Anyway… enjoy!
Greets from Germany,
Flip
Flip,
Hey, that’s great. If you find yourself in CM while I’m still there, do make sure to drop me a line! 🙂
I plan to do an ED visa at first, but not with language. There are a lot of options in that arena. Language is probably the most difficult in terms of learning curve.
Won’t have any health insurance. I average ~0 visits to the doctor per year. And I don’t see that changing. But if it does, healthcare is very cheap over there. It’s one of the advantages of geographical arbitrage.
Hope you enjoy the upcoming content!!
Best regards.
That’s totally awesome Jason! Looking forward to your next chapter of being a dividend expat. Haven’t been to Thailand myself but want to check it out one day in the near future.
Tawcan,
Thanks, man!
Super excited. The advantages are just too great and too plentiful to pass up. 🙂
Looking forward to sharing the new adventures and experiences.
Hope all is well.
Cheers!
Hi Jason
I am following you since DM days and my first comment on your blog.
Please correct me if I am wrong but can you operate your US brokerage account from overseas I believe I have read you cant if you are staying overseas, if that is the case how would you handle this or have you looked into this issue??
Regards
Mo,
Thanks for following along! 🙂
Yes, you can operate a US brokerage account from anywhere in the world, assuming you already have one opened before you go. It’s not like if you go traveling for a long time a company is just going to close your account. It’s unlikely they’ll even know where you are. You simply need to maintain a US address.
I have a post coming up that’ll discuss some of the tools/resources I plan to use (which I also used when I was in Thailand last year).
Cheers!
Jason,
I was a bit surprised at your decision but am an expat as well. There is no reason to reside in the US if live off on dividends. The tax treatment for long-term capital gain and dividend incomes remain the same even you live outside the US.
I visited Thailand a few times for my work and visited Chiang Mai once. Chiang Mai was a relaxed place compared to Bangkok. I am aware that many digital nomads live in Chiang Mai. I hope your new adventure will all work out for you.
Good luck.
ER2019,
Right. Not only are the dividends taxed the same, but the purchasing power is automatically increased significantly. I’ll essentially become a millionaire (in local purchasing power terms) the moment I step off the plane. Moreover, federal income taxes are treated more favorably via the FEIE. And then there’s no need to participate in the individual mandate. All in all, the economic benefits, as I’ve noted prior, are substantial.
Chiang Mai is a hot spot for digital nomads. I like that term (and what it conveys/involves), but I’m more dividend than digital and more expat than nomad. So “dividend expat”. 🙂
Thanks for the well wishes. I’m pretty confident about this one!
Best regards.
You have a great sense of logic. So many people let potential negatives stop them. You realize that you can always change things up if it doesn’t work out. The weather doesn’t matter too much when you are FI. You won’t be digging ditches when it’s hot & humid.
The lack of health insurance bothers me. Except for the dentist, I could’ve lived without doctors most of my life.Then I suddenly needed them in a big way. You’re young and healthy, but a dang car (or CM scooter) could give you a good crunching at any given time. I expect you have this thought out though.
I happened onto the dividend strategy shortly before I found you on DM. You helped bring clarity to everything. I’m about 2 years from FI. Sometimes I wish you’d write about everything and anything that I’m interested in. You’d bring great clarity to any subject from gardening to fatigue failures of engine parts. I look forward to reports!
Fred,
Thanks a lot. I’m glad you see the logic in this. Many people are sheeple, afraid to step out of line. Fear holds people back. I suppose it’s a shame, but many people just aren’t equipped otherwise, as I recently wrote about. Some people are more or less built to follow the pack. I’m not. To each their own.
The lack of health insurance doesn’t bother me at all. I could get health insurance. I’m simply choosing not to. Insurance companies are in business to turn a profit. I think I can do better by collecting my own premium, not paying out on claims, and building up my own float. Again, to each their own on that. I’m okay taking on that risk.
Hope you continue to enjoy the upcoming content. I suspect that the content is going to change quite a bit. I still plan to talk about the overarching philosophy of life and the pursuit of happiness within the context of achieving and maintaining financial independence, but using geographical arbitrage as an additional platform to further maximize that which one worked so hard for.
Best wishes!
Hey Jason,
Congrats on taking the leap! This is something most people dream about without ever taking action.
I’m just wondering what you ended up doing with your dogs. I have a dog myself and its been hard to travel due to having to make extended pet sitting arrangements.
Eric,
That’s a great question.
Both Chihuahuas are technically Claudia’s. She went out and got both of them. However, the female (Kiwi) and I have really bonded. I’m going to miss her tremendously, but Claudia and I decided together that it’d be best for her to stay in the US with Claudia. If I ever come back, she told me I’d be welcome to have Kiwi again.
The good news is that there are a lot of needy animals in Thailand. So if I find myself ready to take on a pet in the near future, I’m sure I can do some good there by taking in a local animal.
Cheers!
Congratulations, Jason! Not to be shallow, but the thing I most missed about being outside of America (even just on an extended vacation), was not being able to do something as simple as watch CNN when I wanted to. I imagine the world is more connected now. As long as you have internet and cable TV there, I can’t see much of a downside. I think missing your friends and relatives would be also hard, but that can happen even when you move out of state. When I moved from Denver to Portland, I really grieved not seeing my friends in Denver. The less attachments / friends you have in Florida, is actually a positive in this case. Good luck!
P.S.: Have you ever considered doing a round the world backpacking trip one year? You know, the old cheap train travel, living in hostels thing. Would make for an awesome experience and some cool blog entries.
– Tim
Tim,
Those little details in one’s life can add up. For me, I’m going to miss Western Food. Especially good pizza. I had some Western food when I was there last year, but it’s just not quite the same. McDonald’s is always an option, though, which is great (as a shareholder). And I’m right around the corner from this place that specializes in all kinds of Western food. Oh, and there’s apparently this amazing Mexican place that’s a two-minute walk away. So there are options. Don’t get me wrong, I like Thai food quite a bit. Just can’t eat it every single day.
But the big thing that might really get to me after a while is the language barrier. We’ll have to see. The key for me will be meeting someone who speaks an acceptable amount of English, and then this person can be my liaison of sorts as I pick up phrases here and there.
The worst-case scenario is that it doesn’t work, which means I try somewhere else out. Or I come back. There’s really no downside to it.
I’ve never considered backpacking or anything like that. In all honesty, I’m not even a fan of traveling. I hate airports, flying, hotels, etc. This idea is palatable because it involves just one long flight, upon which time I’ll settle into an everyday life that doesn’t look all that different from what I’m doing now. I love my life. I’m very happy with how it’s set up and customized for me. I just want to change/improve certain dynamics (which I described in the article).
P.S. I was in Portland, OR earlier this year. Beautiful city. I really enjoyed it. If the COL were (somewhat significantly) lower, I could see myself living there. Maybe in the future, though. Never know. 🙂
Thanks for dropping by!
Best wishes.
Thanks for the reply, Jason. I understand about the food and the language difficulties. That would potentially bother me, too. As far as traveling, I am not really into it that much either, but I hear it is something that gets into your blood over time (if you do it enough). I just think it’s neat you have that option, is all.
I’m glad you liked Portland. It is a really beautiful city. But the COL has exploded since I moved here in 2000. Average rent has gone up something like 50% since 2010. I love Denver too, but I hear it has experienced a similar COL explosion. The cheapest way to live in both cities is probably just to rent a single room, but that requires not having very many possessions.
This is an exciting development!
I’m practicing some geo-arbitrage, earning a higher than average salary with a lower cost of living here in the upper Midwest, but Thailand is next level arbitrage. I wish you the best in finding all that you’re looking for.
Cheers!
-PoF
PoF,
It should be fun. Always trade-offs in anything we do, but I think this idea has more benefits than drawbacks.
Plan to share some pics of the apartment first. Housing is where a good chunk of the arbitrage comes into play, so that’ll be really interesting.
Thanks for dropping by!
Best wishes.
I lived in Thailand for a while but the language barrier and Visa rules got to me. Now I live in the Philippines. I paid about $130 a month for a apartment in Chiang Mai. Now I pay about $200 a month for a beach cabin in the Philippines. I’m 37 my girlfriend is 18 and takes care of me. Haven’t lived in the US since 2012.
Women are much nicer in SEA. But don”t trust the Thai’s, all they care about is money. I’ve seen many horror stories.
Lobo,
I gave the Philippines a good look. The greater prevalence of English and the easier visa are a couple of big pros. But there are a lot of strong negatives to consider, too. Most people who have compared the two countries favor Thailand by far. And I can see why. If the Philippines were cheaper than Thailand (on an apples-to-apples basis), I could see it. But it seems like you’re paying more for less. Comparable apartments I’ve looked at run a lot more in the Philippines. Plus, the food. Again, more for less. Just less value across the board. And there a lot more like-minded young people in Thailand because most prefer it over the Philippines (rightly so). To each their own, but I see the Philippines as more of a backup plan than a primary idea. If you’re happy over there, though, that’s great. You should really be where you’re happiest. 🙂
The visa in Thailand isn’t too hard to figure out. It’s really the language barrier I have to get around. That’ll probably be my biggest challenge, but that’s going to be a challenge pretty much whenever you’re in areas outside of Western civilization. If the prevalence of English were my biggest consideration, I’d just stay in the USA. But it’s not all that high up on the list when I look at my priorities in life.
Thanks for adding that!
Cheers.
Hi there and what a great news,
I’ve been following your stories and recommendations for years. It’s really a great advantage to drop costs in meaningful way and at the same time achieving in other areas of life – just brilliant! Enjoy yourself in beautiful Thailand and exotic Chiang Mai. Your ideas of The US culture of consumption made me think that it’s a great virtue to live frugally in my country, Finland. Those kind of people are well respected in every way, funny that it’s so different in USA. I hope you love your living in Thailand in every aspect – I did when I lived there a long time about 25 years ago, now waiting kids to fly out of the nest in 2-3 years.
Best regards,
Jonny
Jonny,
The US is great in many ways and for many reasons. But my kind of lifestyle isn’t very common here, nor does financial independence seem to be something many people aspire to achieve. To each their own, as I always say, but I’d simply rather be around more like-minded people. Whether or not I’ll end up finding that remains to be seen. The much lower COL certainly makes the effort worth it. 🙂
Appreciate the support. Geographical arbitrage is something that’s written about a lot, but I’m not sure many people actually decide to implement it in the way I plan to. So it’ll be fun to explore this and share some of the results.
Thanks for dropping by!
Best regards.
I recall you writing previously about Thailand but not enjoying the experience at all, so it’s interesting that you are headed right back there. Are you going to try to eat more of the local food as I remember you having sticker shock with the price of things like peanut butter and bread?
I moved to the Phoenix metro for geographic arbitrage.
My $$ goes a lot further here than it did in California. I guess if I went to Asia or South America, it would go even further, but I’m content here. But I’m also working and it pays a lot less, so there’s that.
TJ,
Yeah, I didn’t really go for the right reasons last time. And I was in a much different position in life, so it was a short-term visit. The plane ride and all of that isn’t too bad when it’s more of a one-time thing.
I like Thai food quite a bit, but it’s probably not something I’m going to be eating all day every day. That said, Western food isn’t particularly expensive over there. It’s just that you don’t have as much of that arbitrage opportunity like you do with the local food. A cheeseburger is a lot more expensive than a plate of curry or something. You have other opportunities to save a ton of money, though, so it balances out big time. My plan is to not go grocery shopping or cook at home at all. I don’t like grocery shopping. And I don’t like cooking. Chiang Mai is a great city if you don’t like these things. Many apartments don’t even have much of a kitchen, if they have one at all. I hate small apartments here in the States because they tend to design in these huge kitchens that I don’t want/need. It wastes so much space for someone like me.
I mentioned Tuscon in my post. I think AZ offers a lot to like right now. Reminds me a little bit of what I thought about FL back in 2009. I guess moving almost anywhere from CA would involve saving money (and taxes), but I think Tucson in particular is a lot cheaper than most cities in the country. Not really my kind of place, but the COL is pretty appealing down that way.
Cheers!
Interesting – do you currently not cook in Florida either? I wouldn’t have guessed that based on your annual spend.
I was going out to eat frequently for a while, but I felt like it wasn’t overly healthy and was getting kind of expensive….I don’t particularly like cooking but I definitely made more of an effort to do it when I didn’t have to devote so much of my free time to “working”.
TJ,
I almost never cook. But I also rarely eat out. I try to eat things that taste good, aren’t terribly unhealthy, aren’t expensive, and are fast/easy to prepare.
If I could eat out every day, and do it in a relatively healthy and cost-effective manner, I would. Restaurants are pretty outrageous here, so I largely avoid them. Thailand allows for eating out every day, though, as many local restaurants offer fresh meals that are right about on par with what a couple sandwiches at home cost in the US. In fact, due to apartment designs, you’re almost “forced” into doing that, which is more than fine by me. I ate out every day for every meal when I was over there 18 months ago. I spent no more than what I do here when eating cheaply at home. As such, I’ll do the same thing when I move over there later this week.
Cheers!
Hi Jason,
Wow a big move! That’s cool. Can’t wait to read about all your new adventures there.
You’ll make a movie out of your life one day and I think that is the way one should live his life!
Allan,
Thanks so much!
If your life were a book (or a movie), you’d have to ask yourself whether you’d want to read (or watch) it. The 9-5 till 65 just isn’t for me, but to each their own.
Excited to get out there later this week. I’ll make sure to share some of the new adventures/experiences as they come along. 🙂
Best wishes!
hey jason,
congratulations on the move, good luck, been following and reading for a long time. Maybe i missed something but is your wife and her son moving as well or is this an individual move? Are you going to bring along the puppy as well? I moved to the Delaware coast in a very small beach town several years ago from a major city and have never looked back.
good luck
Joseph,
I’ll be going alone. I linked to an article that explains some of that. You’ll want to read through the whole thing, if you haven’t yet.
Sounds like you’re enjoying where you’re at. All that really matters is that you set your life up in a way that maximizes your happiness and potential. 🙂
Cheers!
Hey Jason, forgive the late comment but I was on vacation for awhile.
This is amazing news, and I believe a wonderful thing to do! If I wasn’t still living in the J.O.B. world (and married with kids), I wouldn’t be living in the US – that is for sure. Ever since I was a kid my plan has been to get a passive income that I can live anywhere with. I decided upon my current plan and it is coming to fruition in just over a year, but the wife doesn’t want to live in an inexpensive country. (She isn’t American either, but British)
Only expensive England, where the work would continue for years. I’m not having that.
But you, you are free man! This is great, you are going to have a wonderful time. Enjoy.
MDD,
Hey, I totally hear you. We’re all in different positions in life. I’m in a very unique situation here, which prompted me to really start thinking seriously about whether or not the US is the best place for me to live my desired lifestyle. It’ll always be home. But there are other places, like Chiang Mai, that offer more pros and less cons within the context of living life as I see fit. At least for right now. Being as free as I am (both financially and geographically), it doesn’t make sense to not give it a go. There is no downside to trying it out.
Appreciate the support. I’ll make sure to post updates here and via social media as I go along. 🙂
Best wishes!
Just ran across this via the MMM forum….. Love to see this and will look more on your site and see all the details… Just throwing you a thumbs up.
I work, overseas and live in Texas but just put my papers in to move to Chiang Mai myself come jan 1 2018…. I love CM and thailand in general, but its all about FIRE for me…. im there now, but want to finish up what im doing for the next 2 years. I work 28/28 for a major oil company but doing my premetive retirement plans… CM is it
See ya there man, good luck and post up
Thomas,
Hey, that’s great news. I’m sure you’ll enjoy it! 🙂
Definitely send a note when you arrive. We can meet up for coffee.
Cheers!
What would you say is the bare minimum to live off of per year in thailand? I make about 3k in dividends a year and am absolutely sick of America.
Eric,
Discussing budgets is kind of like discussing how long a piece of string is. I don’t mean that sarcastically, but it’s just really an individual call. Only you would know if you can live off of $3k per year. Being theoretically possible and actually doing it in real life are very different.
That said, I don’t think it would be impossible or even extremely difficult to live off of $500 per month here in Chiang Mai, assuming you want even a modicum of familiar comforts. I wouldn’t want to dip that low, but I could probably do it. $3k/year would be really stretching it, in my opinion. That might be possible WAY outside of a city. Wouldn’t be a lifestyle I’d want, though. If I were you, I’d figure out how to double that figure ASAP and then maybe see if you have the intestinal fortitude to make the jump once that level of passive income is reached.
Cheers!
Thank you so much I think I can reach that in 2-3 years if I apply myself.
Was brought here by The Financial Diet
I like this post! Cost of living and the expectations of living in the U.S is becoming outrageous or just not worth it at all…I also thought of living in another state (currently living in LA), so my expenses could be lower. After reading your post, I think living in another country is another great option! However, while I am pretty independent, there is one thing I cannot seem to leave behind and that is my parents, my family.
I would also appreciate it if you did a post about taxes! I believe you have other sources of income such as stocks or bonds. How would you file your taxes as a foreign resident but a U.S citizen? or do you have to file taxes at all?
randomizationme,
Thanks. Glad you enjoyed the post! 🙂
I addressed taxes a little bit here:
https://www.mrfreeat33.com/three-reasons-why-you-may-want-to-become-a-dividend-expat/
You always have to file as a US citizen, unfortunately. But the situation can become quite advantageous if you’ve relocated overseas.
Cheers!