$1500 a month is the title of an article today
on CNBC.com. While this sounds adventurous
and romantic...to pick up and move to some
far away destination...the countries that
are featured are third world countries. After
a few months, or years you might just miss
the first world comforts of the U.S. and want
to come home.
According to Nations Online:
"Third World" are all the other countries, today often used to roughly describe the developing countries of Africa, Asia and Latin America.
And what makes a nation third world?
Despite ever evolving definitions, the concept of the third world serves to identify countries that suffer from high infant mortality, low economic development, high levels of poverty, low utilization of natural resources, and heavy dependence on industrialized nations. Third world nations tend to have economies dependent on the developed countries and are generally characterized as poor with unstable governments and having high rates of population growth, illiteracy, and disease.
But who am I to judge, moving to one of these countries might be a really fun adventure and turn out to be the best thing I ever do...or maybe not. But when I have cash flow, more than just my social security check every month, I get more choices. I can go to an exotic destination for a few months, stay for a spell and come back if I don't like it. If I like it I can stay and live like a Queen!
Money doesn't make you happy but more money relieves the stress of physical world reality...the reality that we need to support ourselves while we are alive. Money gives us options, more options are better than fewer options. Money supplies us with trips to the doctor, trips to the movies and a night out on the town. Don't want to spend it all on yourself? Then leave it to your children, grandchildren or a charity.
If you own even one 2-4 unit property it will give you extra cash flow every month. Just one little building could save your life. You only need a very small down payment from $0 to 3.5% to buy a property. Then, over time the property gets paid off with the help of your tenants and in the end you live for free and get extra cash every month to supplement your retirement.
Give your future self options...don't box yourself into a corner where you have no choice but to leave the country in order to survive. Make sure your golden years are golden!