With ~$2M, where should I move to have impact and relax in life?
I can liquidate for around $2M. Where can I move to in the world that will allow me to participate greatly in local business and community while also living a luxurious, relaxed life?
22 comments
Other people won't share your preferences, so rather than an arbitrary list of cities, here's a process for finding your own.
First, given your goal of "[participating] greatly in local business and community," use language as a first filter. This question will either eliminate or open up most of the world: "Am I willing to spend 3-6 intensive years to learn a new language (and not be very effective during that time)?"
Near-native fluency isn't required to live somewhere, but it is basically required to make an impact there outside of any expat bubble.
Second, from that scope, pick any 3 cites that meet your cost of living requirement and live in each for a month. Airbnb makes this relatively easy. Aim for significant differences - continent if possible, city size, culture, weather, similarity to your situation now, etc - between the 3. The specific 3 cities matter less than ensuring you experience a month in maximally different situations.
Use what you like and don't like at those places to decide where to live/test next. After living briefly in 1-3 more places, you'll either have a strong, informed opinion about what you like (and probably a favorite place), or an unexpected result, like that you actually enjoy moving around, or aren't happy anywhere, or don't want to leave where you are.
(Source: I did something like this, though not with the goal of relaxing)
First, given your goal of "[participating] greatly in local business and community," use language as a first filter. This question will either eliminate or open up most of the world: "Am I willing to spend 3-6 intensive years to learn a new language (and not be very effective during that time)?"
Near-native fluency isn't required to live somewhere, but it is basically required to make an impact there outside of any expat bubble.
Second, from that scope, pick any 3 cites that meet your cost of living requirement and live in each for a month. Airbnb makes this relatively easy. Aim for significant differences - continent if possible, city size, culture, weather, similarity to your situation now, etc - between the 3. The specific 3 cities matter less than ensuring you experience a month in maximally different situations.
Use what you like and don't like at those places to decide where to live/test next. After living briefly in 1-3 more places, you'll either have a strong, informed opinion about what you like (and probably a favorite place), or an unexpected result, like that you actually enjoy moving around, or aren't happy anywhere, or don't want to leave where you are.
(Source: I did something like this, though not with the goal of relaxing)
To reach financial independence you need 25x your annual spending. Then you invest it to earn over 7% and have a SWR (safe withdrawal rate) of 4%. The extra 3% should cover inflation. So you can enjoy the same lifestyle 'forever'. So if you can live on 80K yr (6.6K/mo) you are all set on the luxury part.
Put the money 90% in VOO and 10% in BND (like Warren Buffett tells his heirs). Or get fancier as you learn how to invest.
More (read the sidebar on right): https://www.reddit.com/r/financialindependence/
'participate greatly in local business' Your time and energy are probably the best thing you can give.
Put the money 90% in VOO and 10% in BND (like Warren Buffett tells his heirs). Or get fancier as you learn how to invest.
More (read the sidebar on right): https://www.reddit.com/r/financialindependence/
'participate greatly in local business' Your time and energy are probably the best thing you can give.
https://www.reddit.com/r/leanfire/ is another good subreddit for early retirees.
Some spot in the south of Spain, where there's so much to choose. Málaga and surroundings for international community (avoid Marbella if you don't want to burn your money in 2 days), but Cádiz and Granada are probably awesome too. Almeria has some very nice spots (Cabo de Gata) and Sevilla is worth visiting often.
Bonuses:
- North Africa round the corner. Actually there are two Spanish cities in North Africa, so you don't even need another visa to step on the continent.
- You also have Huelva and the Portuguese Algarve somewhat close.
- Very cheap flights to anywhere in Europe (my last Málaga - London Luton was £24) and easy to jump to Madrid or Barcelona for long haul.
Bonuses:
- North Africa round the corner. Actually there are two Spanish cities in North Africa, so you don't even need another visa to step on the continent.
- You also have Huelva and the Portuguese Algarve somewhat close.
- Very cheap flights to anywhere in Europe (my last Málaga - London Luton was £24) and easy to jump to Madrid or Barcelona for long haul.
You might find the Financial Independence subreddit[1] useful. Here are some threads that might be of interest:
ER Cities in the U.S. - https://redd.it/3cjtth
The Reality of Expatriating for a Lower Cost of Living - https://redd.it/5w4p92
Where do you plan on retiring early? - https://redd.it/5kj438
[1] - https://www.reddit.com/r/financialindependence/
ER Cities in the U.S. - https://redd.it/3cjtth
The Reality of Expatriating for a Lower Cost of Living - https://redd.it/5w4p92
Where do you plan on retiring early? - https://redd.it/5kj438
[1] - https://www.reddit.com/r/financialindependence/
Are you sure luxurious and relaxed is what you want for the rest of your life?
It could be a path to mediocrity.
It could be a path to mediocrity.
What's wrong with mediocrity? Once you "won" (have FU money), the rat race terms are no longer relevant.
Vermont. Depends on your idea of luxury and taking "in the world" to not mean exclusively outside of the US. I think it definitely fits the rest of your criteria though.
[deleted]
I don't mean to hijack the thread but would you mind sharing how you got to where you are?
Czech Republic, Slovakia, Slovenia, Poland, Croatia, Crna Gora, Serbia, Canary Islands, ...
Which one is the safest ?
I've spent a couple of years in the Czech Republic, Slovakia, Slovenia, Poland, Croatia, Montenegro and Serbia. All of those countries are incredibly safe. The worst that ever happened was a couple of taxi drivers trying to charge me double what a local person would pay. I'd rank Montenegro and Serbia a little below the others, but don't get the wrong impression, they're still very safe.
Croatia is one of the safest places I've ever lived. I think I'd rank it higher than Canada. I hitchhiked in Slovenia and all three times I was picked up by women (I'm male), once by a mother and her daughter, once by two friends, and once by a mother and her son. How many places in the world do women trust picking up random male hitchhikers? That gives you an idea how safe these places are to live.
Croatia is one of the safest places I've ever lived. I think I'd rank it higher than Canada. I hitchhiked in Slovenia and all three times I was picked up by women (I'm male), once by a mother and her daughter, once by two friends, and once by a mother and her son. How many places in the world do women trust picking up random male hitchhikers? That gives you an idea how safe these places are to live.
Poland is similar, the matter of safety when choosing where to live is not a concern for people here - it's just very safe everywhere. The worst that can realistically happen is some non-physical harrasement by drunks at night.
Probably all of them, but interestingly enough that's a list of countries with varied climate (hot summer, cold or cold as fuck winter) while Canary Islands are between 20C and 30C all year round.
You might like one or another, so choose wisely :) also Canary Islands are incredibly touristy (albeit there are a couple of proper cities, too) so "only English" won't be a problem in pretty much none of the islands.
You might like one or another, so choose wisely :) also Canary Islands are incredibly touristy (albeit there are a couple of proper cities, too) so "only English" won't be a problem in pretty much none of the islands.
Croatia, Serbia and Montenegro are considered a bit less safe than these others, but compared to some places in the US, every single country is very, very safe.
From the list above I would say all are pretty safe. At least as safe as western european countries if not even more. I bet Slovenia for example is one of the safest places in the world.
I want to move to a distant island in Alaska.