That’s the dream, right? You’re able to save 50% of your income. If you’re married, this means you can pocket once person’s entire salary. Crazy, right?! That’s doing pretty well.
A lot of people grow up assuming some things are just the way they are. Many people believe they cannot change their circumstances. This is a mistake. Steve Jobs passionately illustrates this point in this video.
You are not a slave to your circumstances. Circumstances change. Are you feeling energized about changing your situation? I hope so! Because I’m suggesting you move out of the United States. Now, I LOVE America. I believe it is the overall greatest country on earth. However, living in America is the land of high salaries and spending more than we earn. Saving 50% here is hard to do in comparison with other countries. Our cost of living is too high.
A person can live in Mexico, for instance, for 50% less than in the estados Unidos.
Have you thought about moving to Mexico? You could live the same lifestyle as in America – but for half price!
This sounds too good to be true. Beaches, warm weather, fresh fruits and vegetables… and it’s cheaper?! But there are things to consider. After all, moving your life south is a pretty drastic change.
The reason I use Mexico is we’re all familiar with our neighbor to the south. However, living outside the USA is almost always cheaper. You could also move to many parts of South America, Asia, Eastern Europe, India, and elsewhere and still find a 50% coupon waiting for you.
I spoke with a lot of people in real life about the feasibility of doing this. Many people think it’s crazy but they can’t tell me why. It’s an emotional response I get – not logical. Can a person save 50% by moving to Mexico – yes. That’s my logical reason for moving. Many people don’t have a logical reason for not doing so.
As stated earlier in this post, the United States is a fantastic country – by nearly any measure. BUT if you want to reach financial freedom ASAP, consider a move abroad.
A move abroad does not mean you are gone from America forever. You can come back later on once you’re financially free. With a 50% savings rate, you may be able to move back in just a decade!
Making Money in Mexico
Of course, saving 50% of your income is silly if you only earn 1,000 pesos/day. It’ll take quite awhile to reach financial freedom at that rate. But with an American education, you may find it easy to find a high paying job in Mexico.
Have you considered working online? Many companies are allowing employees to work remote. This is probably your best way to reach financial independence while living abroad. Think about it… getting paid in USD but living on MXN… sounds pretty good to me. If you’ve not read The 4-Hour Work Week – you really should. If you take nothing else from this article, remember to read that book.
I’m a personal finance freelance writer and webmaster. I welcome you to visit me at www.thefrugalpreneur.com