Cheap financial freedom

thewavemag.com

7 points·yters··4 comments

Last time YC News was polled, most said they wanted to become rich in order to be financially independent.

This assumes a Western cost of living. This article describes how you can be financially independent much more cheaply by living overseas.

Say you saved up $100,000. If you then stick it all in a high interest savings account: http://www.getrichslowly.org/blog/2007/03/21/which-online-hi... you can withdraw about $325 a month from interest alone, which is more than enough to live in some overseas countries.

So, if you are interested in retiring early, and don't have expensive tastes, this is a route to consider. Here's someone who did it, and lives on $319 a month: http://www.escapeartist.com/efam29/book.html

Even if you don't want to get away from it all right now, it is good to know you can. It takes the pressure away from life.

An important consideration brought up in another thread is the overseas country's rate of increase in cost of living.

Also if you want good internet and electricity the cost of living seems to bump up to around 1000$ a month in most of my research.

Certainly still doable. I think it is safer in a country that allows foreigners to work easily. That way you can always find odd jobs to supplement your income when needed.

I can understand the good internet connection cost, but don't most countries have a dependable source of electricity?

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