Tony Robbins once said that many people fail to consider what could be the single greatest step in furthering one’s financial wellbeing – moving to another city or country. This has the potential to save a lot of money, and it’s more feasible than ever before, thanks to the Internet, but few people seem to entertain the possibility of moving. As Business Insider points out, this strange mental block could hurt people’s long-term planning:
“If there were a way that you could save 10% to 20% or more of your current costs and invest them to bring financial freedom a decade closer — and perhaps have an even greater quality of life — wouldn't you owe it to yourself to push beyond the obvious obstacles and consider your options? Could you be living large in a magnificent community like Boulder, Colorado, for what you're paying in rent alone in New York City or San Francisco? The cost of homes, food, and taxes differs wildly depending on where you live.”
Reading this led me to wonder what other countries would be good to live in. I came across International Living’s Annual Global Retirement Index for 2017, which lists the top ten countries worldwide for retirement. It measures them according to factors such as climate, cost of living, health care, renting and buying real estate, visa and travel accessibility, infrastructure, and ease of fitting in.
But these factors that are so important to retirees matter just as much to younger people, who might be looking to further their financial portfolios earlier in life while simultaneously enjoying an interesting adventure.
All of these winners feature glorious climates and costs of living that are low relative to most major centers in the U.S., Canada, and western Europe. If you work online, countries such as Panama, Spain, and Malaysia boast excellent Internet connections. (Unfortunately none of these appear on the top 10 countries with the fastest Internet connections. South Korea takes the prize for that, FYI.)
With no further ado, here’s some great fodder for dreaming of adventures abroad.