S2E12-Passports, Pills & Pinot Noir (Relocating Outside The US)

WEBVTT

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Hello, Hello, speak up, speak up?

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Huh, my mic is on you.

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I can hear you.

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I can barely hear you. Let me turn my let's

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see my volume. My volume's up. Say something, yeah, something,

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I'm not really hearing you. Really, pardon my reach.

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Well, I'm plugged in and the mic is on, so

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you can hear me?

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Okay? I can?

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Oh, now I hear you better? Okay? Is that okay?

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Now?

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I can hear you better?

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What'd you do?

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I touched it?

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I can hear myself.

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Can you hear me?

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Okay? I can hear you? Well, here, let me turn

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you up. I'm going to turn you up.

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Turn it out and see like right now, you're coming

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in very fuzzy.

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That's well, don't worry about that. That's okay, that's that's

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just the thing.

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The buffer it says actual recording is higher quality. Well

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that sounds about right.

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Listen. We can only hope. But can you hear me? Okay?

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Now, honey, that's all I do is so can you

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hear me?

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Okay?

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Yes?

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Okay? Is there a delay?

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No?

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Why did you take so long to answer? Then? Oh

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my god?

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Why do you Censor's a delay?

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No?

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I sense there's a delay in your tone. Do you

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have a problem with me right now?

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To No, you do, I'm good.

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Well, okay, here's the thing this. Guess what this is?

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See this right here?

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Why I know what you're pointing out the big black thing.

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Yes, that's a microphone. Guess what? I wasn't using it?

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Correct what?

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In previous episodes, caution to the wind on a Wednesday?

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On a Wednesday, how are you?

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Oh good? It's been a crazy stressful week.

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Stressful okay, work related because of what's going on out

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there with a certain thing called tariffs.

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Yeah.

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Yeah, so it's wreaking havoc. I can check one thing

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off my list real quick. Is that I talked about

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this before today. I went to the lawyer's office to

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sign my updated a living trust.

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Oh, good for you, Good for you. I'm just finishing that.

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I've signed everything and they notarize it and they'll just

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send me copies.

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Good and check that off the list.

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I was a project that I wanted to get done

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this year.

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Does it feel good to have that finished?

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Yeah?

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It does finally, because I just waited way too long

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to update it. I originally did my living trust in

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twenty eleven, so it only took me fourteen years.

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Well, I don't think you waited too long. I think

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it's good to actually finish it. I'm just doing the

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same thing, changing financial institutions for my portfolio and getting

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the last signature.

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It's done. So we're kind of running. You won you.

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Beat me well this time, but not keeping score, are we?

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I am?

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So we missed out on leading up coming out of April,

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then sing song It's gonna be May, and then had

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we record on Sunday.

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We could have said May the fourth be with you,

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but we didn't do that right. I knew you were

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way and did you celebrate singodamaya?

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No? I was working. I had things to do.

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But this week one was really fun because we went

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to the Beach Life Festival, which is basically a huge

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music celebration. I haven't done that before. It's very interesting.

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It's a very interesting group of people.

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I have to say.

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The ladies who rock were on force. We saw Lenny Kravitz,

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we saw an Alanis Morris set, we saw Susannah Hoffs.

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But you know who the superstar was. The superstar was

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Chrissy Hine from The Pretenders. She is seventy four years

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old and she had the most amazing set of music.

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She was like pumping that music out.

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She's a hard rock girl lady, sorry, hardler woman, and

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she just did Yeah she's but they have some hits

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for sure. But just the musicianship and the way she

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did it and how professional she was, it was amazing.

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And seventy four years old and she was cranking it out.

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It was amazing.

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And where was this hell?

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Over in Redondo Beach.

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It's a huge area over in Rodondo Beach called Beach

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Live Festival basically hosted by Sketchers, who were sold recently

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by four billion dollars just you know, because they're a

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local company here in Manhattan Beach.

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So yes, I know, but it was great fun.

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I do have some footage the ladies like to rock,

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and what I mean by that is all the ladies.

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I've got some posts of some ladies that are just

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going crazies dancing.

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It was it was fun. I mean it was fun.

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I don't know if I would do it again, but

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it was great to go. It's great to see live

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bands because I don't often see that.

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So what about you? How was your weekend? I know

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you had stressful work week, but what about the rest.

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Yeah, but I had a nice day.

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Sunday was a beautiful day out weatherwhy so I went

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to Golden Bay Park. I re Sunday to have free

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concerts in the band show, so listen to music. There

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were Polish dancer in groups there, so it was fun,

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and I went.

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Into the museum. So I just kind of made an

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afternoon of just being out and about in the park.

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So it's nice.

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And then coming up on Mother's Day this weekend, so

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we're getting together with my mom and some other folks

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for a Saturday dim Sum brunch the day before Mother's Day.

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Oh yeah, I miss dim sum. Good dim sum? Yeah,

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I need some.

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Yeah, So that's what's been going.

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On, So give me some dim thumb.

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Yes. So do we want to talk about what we're

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going to talk about?

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Sure, this was your idea. That was a great one.

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So what we're going to talk about this week is

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retiring overseas and what that means. We're also going to

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talk very briefly about our new website and the relaunch

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of our Facebook page first, but eventually we're going to

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circle back retiring overseas and all the benefits why it's

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so popular right now, white people are really I guess

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would you say, they're really gravitating towards doing this?

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Gary, is there a lot of it happened?

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There is a lean towards that, but there's also some

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challenges that get brought up.

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So we'll talk about the pros and cons.

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Yes, the pros and cons.

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And yeah, where you're able to do it?

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Okay, So yeah, we're going to talk about that. It

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seems I know actually a few people that I've worked

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with in the past who have actually gone and done this,

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And there are a few websites I want to mention

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that are actually really helpful and good resources for that.

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If you're interested in doing so.

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So you'll be back in a minute. All right then, okay,

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then anyways, sorry, we're We're welcome to don and Gary

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Doing sixty. We're here to unwrap, unpack, and navigate the

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world at.

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This age.

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Listen.

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We want to talk very briefly about our new website.

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We're very excited. It's hosted by pod Page. The website

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is basically your all in one shopping point for Donn

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and Gary Doing sixty. You can leave feedback that will

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go directly to Spotify and Apple pod Podcasts you can

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actually leave reviews. We have a blog on there. And

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also what's really exciting is we have voicemail, so I'm

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really looking forward to having people leave us some voicemails. Also,

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our new Facebook page has been relaunched at a new

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basically addressed and I'll post that here and also in

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the credits later.

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But on with the show, Gary, Let's do it. Let's

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do it?

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So, yes, well, before we talk about living abroad or

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retiring abroad.

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Yes, I may have mentioned this in a previous episode.

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But when I was pulling all this different information, one

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of the articles that came up was what are the

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there's always top ten lists of everything, right, so this

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was the top ten list of happiest countries. So have

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you like thinking, if I don't want to continue living

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in this country.

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Where do I want to live?

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And there's different resources out there, And this I thought

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was interesting was they do this. It's called the World

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Happiness Report and for twenty twenty five. So these numbers

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are based on studies or data they collected in twenty

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twenty two through twenty twenty four, and they list, you know,

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on a scale one to ten, rate these things in

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your life, and they look at such things as GDP,

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the gross domestic product per capita, a healthy life expectancy,

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social support, or having someone to count on so you're

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not getting isolated, freedom to make key life decisions, perceptions

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of corruption in government and business. So they look at,

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you know, what makes you happy and what is your

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life like? And so here the top ten, and two

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of them are on the top ten list for the

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first time, Mexico and Costa Rica. Mexico came in number ten,

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number nine, Luxembourg, Israel, Norway number seven, Costa Rica number six,

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first time on this top ten list. Netherlands, Sweden, Iceland,

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Denmark and the number one country happiest country for the

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eighth year in a row Finland. Finns are currently living

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in Finland Denmark areas. That's where you're going to be

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the happiest. The least happiest number one forty seven. The

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bottom of the list Afghanistan for the sixth consecutive year. Yeah,

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and there's you know, several other countries above that. But

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I said, well, where does the US rank. Well, they

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started this collecting of data in twenty twelve, so that's

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the first year they did it.

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At that time, the US.

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Was number eleven, So like, all right, we're at the

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top ten, but we were number eleven.

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Now we're number twenty four, so we've dropped a few pegs.

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So I thought that was interesting.

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But what prompted this reason for having this conversation was

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I saw a short interview on CBS Sunday morning. It's

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about a retired American couple. They are from Medicino County

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in California, Northern California.

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And they're both retired.

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I think a lot of folks like based on what

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I have now in terms of money, you know, the

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people in my life, my support system, whatever, do I

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continue living here or is there's something more better out

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there somewhere.

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And of course some people have traveled.

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In their years, and I really love Italy, I really love,

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you know, somewhere in South America. They might have a

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destination that is their go to they like to visit,

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but would they consider living there. And there's a lot

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of resources out there that give you the pros and cons.

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So this particular couple, I guess they travel. They ended

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up moving to Gozo, an island of Malta in the Mediterranean.

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So it's not allowed, you know, it's not the London's,

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it's not the Paris, it's not the whatever. But they

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found this and the reasons why they liked it was

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a low cost of living. They said, if they only

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relied on the income they get from solid Security, they

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wouldn't be able to live in the US to sustain

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their lives. I'm in California, expensive state. But they did

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keep their house in Mendocino, so they rented out. So

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the money they get from the rental plus solid security

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allows them a fairly comfortable life in this island called Goozo.

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They do have to, you know, get their own healthcare

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as private insurance, but it's less than Medicare.

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In the US.

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Right.

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But depending on where you live.

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They talk about some things that could be a con

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and one could be like a language barrier if they

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found that challenging. So depending on where you choose to live,

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if you don't speak another language or the language of

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that country, that.

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Could be couldn't that be part of them that was

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processed though, to learn the language. I mean that's part

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of assimilating into a new country. I mean, you can't

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just assume everything's going to speak English, right exactly?

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Right?

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Yeah, for sure, No, I mean, and we'll get into

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the different things they talk about how they decide whether

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or not this is the right place. Well, and obviously

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you have to have gone there at least a visit

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and maybe multiple times, because just because you went there

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one time and had one fabulous two education doesn't mean

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you're going.

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To automatically move there, right, So that was their story.

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There was another woman who from the US moved to

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Italy in her twenties and it didn't say what it

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was for a work or study, but she was there

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in her twenties, liked it, but at some point she

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said the slower pace of life in Italy didn't agree

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with her. She wanted to, you know, be doing things,

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and it was you know, the culture is different.

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Obviously the language she says.

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They said, in the specific case of Italy, the houses

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are very small, so they're not meant for people to

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hang out their house and have parties. So they're always

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going out. They're out about at the bar, at the restaurant,

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at the beach, at the park, whatever. And she's like,

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what come on, does this hang out at the house

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and so certain things just don't agree with her.

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But how old was she?

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Again, Gary well, she moved Italy in her twenties.

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It doesn't say how old she is now, but I

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guess she reached a compromise. She's able to live there

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for maybe six months of the year and in the

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US for six months of the year, so she can

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kind of have a balance where when she's feeling a

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little tightly wound in one country, she'll just go back

285
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to another home. I mean not everyone can do that, right,

286
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I mean, for some of us, if we're going to

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up and move, we're going to like sell our home

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because that's going to help in our retirement to live

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our new life.

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So Edwin's got a different story. Before I go on, did.

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You have Well, yeah, because I just wanted to comment

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on this person, because you know, it's interesting as Americans

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traveling to other countries, we are very much accustomed to

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certain ways of living, and I would say that traveling

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to anywhere in Europe, you're not going to have anywhere

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close to the same. And I don't mean this in

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any way disparaging, but the size of homes in the

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States is much larger always for the most part, to

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city living in any major European city, for example France,

300
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if you're in Paris, and you've been to Paris a

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00:13:45.480 --> 00:13:48.399
number of times. Apartments there are very small, and the

302
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idea is that you're not supposed to spend a ton

303
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of time locked up in your apartment. And you know,

304
00:13:53.960 --> 00:13:57.360
there's so much to see in Europe, in Paris, in Spain,

305
00:13:57.960 --> 00:14:00.879
there's no in Italy too. I mean, there are definitely

306
00:14:00.960 --> 00:14:04.000
nice villas to live in, but if you're living city life,

307
00:14:04.080 --> 00:14:05.879
you should be getting out and doing stuff.

308
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It can't be just.

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That you're sitting in your palatial McDonald's mansion that are

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being built everywhere in the States. So I mean, I

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can see how it's not good for everybody. But you know,

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00:14:17.000 --> 00:14:19.360
being realistic when you go to Europe is that there's

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going to be a very different way and I don't

314
00:14:21.799 --> 00:14:24.879
mean standard, just a different way of living. If you're

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not open to that, I think it's a challenge to

316
00:14:27.320 --> 00:14:30.519
go over there. If you're not open to change or challenge,

317
00:14:30.559 --> 00:14:34.200
like ready to make that accommodation, it's important that you're

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ready for it. Side note, I did see the same

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00:14:36.559 --> 00:14:39.559
sixty minute special of the couple. It was very interesting

320
00:14:39.600 --> 00:14:42.039
to watch because I think they looked like a very

321
00:14:42.120 --> 00:14:44.399
nice couple. And they seemed like they had found their

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00:14:44.559 --> 00:14:48.440
vibe in Yeah, what was the place called? Again, I

323
00:14:48.480 --> 00:14:49.879
forgot where.

324
00:14:49.679 --> 00:14:53.519
They moved to, said, Gozo is an isle of Malta

325
00:14:53.639 --> 00:14:54.559
in the Mediterranean.

326
00:14:54.840 --> 00:14:56.240
Yes, which looked amazing.

327
00:14:56.320 --> 00:14:59.600
Actually, yeah, I think you know.

328
00:14:59.720 --> 00:15:02.320
For the it was like they want to enjoy life,

329
00:15:02.480 --> 00:15:04.919
you know, yeah, go you know, sit in a plaza

330
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and have a glass of wine, or go for a

331
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walk or do whatever. When we talk about pros and cons,

332
00:15:10.240 --> 00:15:12.840
here's a list of things that had come up that'll

333
00:15:13.960 --> 00:15:16.080
come up when you're trying to decide can I do

334
00:15:16.200 --> 00:15:18.720
this or do I want to do this? And things

335
00:15:18.720 --> 00:15:21.960
to consider, and in no particular order, but your financial status,

336
00:15:22.039 --> 00:15:25.519
like obviously if you're going to live somewhere else, well

337
00:15:25.519 --> 00:15:27.200
whether you live, you know, retire in the States or

338
00:15:27.240 --> 00:15:29.120
live somewhere else. How much savings do you have, do

339
00:15:29.159 --> 00:15:30.320
you have a retirement account?

340
00:15:30.440 --> 00:15:31.519
How much debt do you have?

341
00:15:31.759 --> 00:15:33.840
If you have like a home, are you going to

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keep it and rent it out or are you going

343
00:15:36.000 --> 00:15:38.600
to sell it and use that towards your retirement? Depending

344
00:15:38.639 --> 00:15:41.080
on what country you're going to our visas required, is

345
00:15:41.080 --> 00:15:42.279
there a language barrier?

346
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Also?

347
00:15:43.440 --> 00:15:45.879
For example, you like going to Palm springs because you

348
00:15:46.000 --> 00:15:48.600
like the heat. So depending on where you're going, if

349
00:15:48.600 --> 00:15:53.159
it's too tropical or too you know, the dry heat,

350
00:15:53.600 --> 00:15:56.200
or it snows, whatever it is, you have to be

351
00:15:56.480 --> 00:15:58.799
agreeable to that or know that you're going to have

352
00:15:58.840 --> 00:16:02.120
to flex your you know, schedule if the climate comes

353
00:16:02.159 --> 00:16:04.919
in issue cost of living, if we have to compare,

354
00:16:04.960 --> 00:16:07.720
like how far is our money going to go there

355
00:16:07.879 --> 00:16:09.759
versus here? A couple we talked about they had to

356
00:16:09.759 --> 00:16:12.679
get private insurance for them. What they found was it

357
00:16:12.759 --> 00:16:14.559
was less expensive than if you were to.

358
00:16:14.519 --> 00:16:15.399
Get medicare here.

359
00:16:15.639 --> 00:16:17.879
They found an apartment it was seven hundred and fifty

360
00:16:17.919 --> 00:16:20.200
dollars per month. Where's that going to happen here in

361
00:16:20.200 --> 00:16:20.679
the States?

362
00:16:21.480 --> 00:16:23.600
And I saw that apartment. I saw a shot at

363
00:16:23.559 --> 00:16:26.120
the apartment where they live. It's a I'm sure it's

364
00:16:26.159 --> 00:16:28.720
a very different standard than what they're used to in

365
00:16:28.759 --> 00:16:32.360
Mendocino because it was a very European apartment. I saw

366
00:16:32.480 --> 00:16:34.480
a shot of it, so it's a little more simple.

367
00:16:34.799 --> 00:16:37.399
It probably is a laundry in the kitchen, all those

368
00:16:37.399 --> 00:16:40.480
things that most of European homes have. So I mean,

369
00:16:40.600 --> 00:16:42.919
I think they did make an adjustment, but they seemed happy.

370
00:16:43.120 --> 00:16:46.399
Yeah, they did so, and you know, they also talk

371
00:16:46.480 --> 00:16:49.879
about are you the type of person that is going

372
00:16:49.960 --> 00:16:51.919
to like if you move into the place, just kind

373
00:16:51.960 --> 00:16:54.080
of like settle in as they appear to have done.

374
00:16:54.279 --> 00:16:57.679
They settle into that community and they're happy. So their

375
00:16:57.720 --> 00:17:01.240
expenses aren't really high. Are are you the type that, oh,

376
00:17:01.240 --> 00:17:04.559
I want to travel? Once you're in Europe, for example,

377
00:17:04.640 --> 00:17:06.640
there's so easy to go by train to all the

378
00:17:06.680 --> 00:17:08.920
different country Are you going to spend your time traveling? Well,

379
00:17:08.920 --> 00:17:12.000
then you're going to have to plan for higher retirement

380
00:17:12.400 --> 00:17:15.119
money in order to keep up that lifestyle, right, So

381
00:17:15.279 --> 00:17:17.519
you have to plan ahead of how much money do have?

382
00:17:17.839 --> 00:17:19.880
How much do I plan to spend? So how much

383
00:17:19.920 --> 00:17:21.960
do I need? And we talked about the political climate

384
00:17:22.039 --> 00:17:24.200
and safety for something for some people?

385
00:17:24.240 --> 00:17:25.960
Are are you going to buy or rent when you

386
00:17:26.000 --> 00:17:26.799
get there? Right?

387
00:17:26.880 --> 00:17:30.440
And because can't always be easy? I remember you fantasize

388
00:17:30.480 --> 00:17:34.400
the movie that I mentioned to you before, Under the

389
00:17:34.480 --> 00:17:35.960
Tuscan Sun with Diane Lane.

390
00:17:36.160 --> 00:17:36.359
Right.

391
00:17:36.839 --> 00:17:39.680
She was just traveling on a tour group through Tuscany

392
00:17:40.160 --> 00:17:42.160
and the bus stopped in front of a house that's

393
00:17:42.160 --> 00:17:44.759
set for sale, and it's something spoke to her, so

394
00:17:44.759 --> 00:17:47.000
she got off the bus ended up buying the house

395
00:17:47.119 --> 00:17:49.319
and it need a lot of work, so and you know,

396
00:17:49.400 --> 00:17:52.359
it's just it was unexpected things that came up that

397
00:17:52.519 --> 00:17:54.559
if you're in a foreign country, it's not you can

398
00:17:54.640 --> 00:17:57.440
just call your contractor and have them come right away

399
00:17:57.480 --> 00:17:57.920
and fix it.

400
00:17:58.000 --> 00:17:58.160
Right.

401
00:17:58.240 --> 00:18:01.640
So there's all kinds of there be able to go through.

402
00:18:01.720 --> 00:18:04.039
So definitely a lot of pros and cons to think about,

403
00:18:04.200 --> 00:18:06.359
but a lot of it has I think has The

404
00:18:06.400 --> 00:18:08.759
main thing has to be on your financing of it.

405
00:18:09.079 --> 00:18:11.920
Can you afford to do it? Absolutely, We've talked about.

406
00:18:11.960 --> 00:18:15.759
Like I, when I retire, do I keep my place?

407
00:18:16.240 --> 00:18:18.200
Do I sell it and move somewhere else where? Am

408
00:18:18.200 --> 00:18:19.480
I going to move? I don't really want to move

409
00:18:19.480 --> 00:18:21.480
out of the area because my family and friends are here.

410
00:18:21.640 --> 00:18:23.680
So there's a lot that goes into it, and that's

411
00:18:23.759 --> 00:18:25.519
kind of something I'm kind of struggling with.

412
00:18:25.640 --> 00:18:27.279
I'm trying to figure out what I want to do.

413
00:18:27.720 --> 00:18:28.079
Mm hmm.

414
00:18:28.200 --> 00:18:32.039
There's I think another time we'll talk about retirement facilities

415
00:18:32.119 --> 00:18:34.920
or senior communities. I think we'll talk about that separately,

416
00:18:34.960 --> 00:18:38.720
but that's another consideration. But depending on where that facility is.

417
00:18:39.279 --> 00:18:41.799
I've looked just to hear it in California, and they

418
00:18:41.839 --> 00:18:43.240
are super expensive.

419
00:18:43.559 --> 00:18:45.400
Let's tie into that a little bit too, because I

420
00:18:45.440 --> 00:18:47.920
was looking at all the pros and cons myself, and

421
00:18:47.960 --> 00:18:52.160
I think one of the biggest factors is healthcare. Yeah,

422
00:18:52.279 --> 00:18:54.960
so just so you know, the United States has the

423
00:18:55.000 --> 00:18:58.519
most expensive healthcare in the world. It's the most expensive

424
00:18:58.720 --> 00:19:02.160
anywhere you can go. So that in itself is a

425
00:19:02.240 --> 00:19:05.319
huge determining factor for many people. But there's other things

426
00:19:05.359 --> 00:19:09.519
to remember that. For example, when you're going there like

427
00:19:09.559 --> 00:19:12.680
this this couple that you mentioned, they had to go

428
00:19:12.759 --> 00:19:17.880
and get their own independent health care locally, but because

429
00:19:17.880 --> 00:19:20.960
the costs are so prohibitive in the States, it's still

430
00:19:21.039 --> 00:19:24.720
less expensive than having your health care in the United States,

431
00:19:24.720 --> 00:19:27.440
which is always not always that great to begin with.

432
00:19:27.799 --> 00:19:31.519
It's also very expensive, and if there's anything catastrophic happening,

433
00:19:31.880 --> 00:19:34.200
you have this huge cost that you in debt you

434
00:19:34.240 --> 00:19:37.400
can go into just to treat. Many of the countries

435
00:19:37.440 --> 00:19:40.440
that people are moving to are basically socially run, so

436
00:19:40.480 --> 00:19:44.000
there's a social program where the healthcare is basically free

437
00:19:44.079 --> 00:19:45.400
if you're paying into it.

438
00:19:45.519 --> 00:19:47.799
So that's I think that's a major factor.

439
00:19:48.119 --> 00:19:51.920
The other thing is taxes as a citizen of the

440
00:19:51.960 --> 00:19:55.000
States and going to get a citizenship in another country.

441
00:19:55.359 --> 00:19:59.839
You're still expected to pay taxes when you get your

442
00:20:00.079 --> 00:20:03.480
Social Security, so you'll be getting taxed on whatever you

443
00:20:04.200 --> 00:20:06.400
bring in monetarily to the country.

444
00:20:06.559 --> 00:20:07.680
You could also be taxed.

445
00:20:08.160 --> 00:20:10.559
You're being taxed in the States to begin with, then

446
00:20:10.559 --> 00:20:12.599
you're being taxed in the country.

447
00:20:12.400 --> 00:20:13.079
That you go to.

448
00:20:13.440 --> 00:20:15.519
So there's a couple because you also have to contribute

449
00:20:15.559 --> 00:20:17.720
some money to the country that you're living in. So

450
00:20:17.839 --> 00:20:20.599
that's another factor that people need to take a look at.

451
00:20:20.720 --> 00:20:24.119
And then social Security itself. Yes, you can absolutely take

452
00:20:24.119 --> 00:20:26.160
your Social Security. You never lose it if you leave

453
00:20:26.200 --> 00:20:28.920
the States, but it has to be mailed to you,

454
00:20:29.279 --> 00:20:31.039
so you have to make sure that you're accessible to

455
00:20:31.079 --> 00:20:32.119
getting Social Security.

456
00:20:32.240 --> 00:20:34.079
So I mean those says.

457
00:20:33.799 --> 00:20:37.000
You can have it electronically deposited, you know, tract deposit

458
00:20:37.119 --> 00:20:40.599
into an account that has that an overseas connection or

459
00:20:40.680 --> 00:20:43.519
whatever country you're in. And when we keep timing with Europe,

460
00:20:43.559 --> 00:20:45.319
and it could be you know, Central South.

461
00:20:45.160 --> 00:20:47.920
America absolutely, And I just haven't made me anywhere, right,

462
00:20:48.240 --> 00:20:51.200
And I have a list of the top high quality

463
00:20:51.200 --> 00:20:54.759
medical services in each country so that this is just

464
00:20:54.799 --> 00:21:02.119
not in a specific order, but Columbia in South America France, Ireland, Italy, Malta, Spain,

465
00:21:02.279 --> 00:21:05.519
and Thailand. Believe it or not, how one of the

466
00:21:05.519 --> 00:21:11.480
most yes, some of the best healthcare programs. Okay, yes,

467
00:21:11.559 --> 00:21:14.559
so I mean I didn't think Thailand, but I assumed.

468
00:21:14.160 --> 00:21:15.880
Spain, Portugal, those kinds of places.

469
00:21:16.079 --> 00:21:19.319
I didn't think about Colombia, and I definitely didn't think about,

470
00:21:19.920 --> 00:21:22.200
like I said, Thailand, So you know, there is a

471
00:21:22.200 --> 00:21:24.759
lot of places. Just real quick note. I was listening

472
00:21:24.759 --> 00:21:28.160
to a podcast this morning. Isaac Mssrahi used to have

473
00:21:28.160 --> 00:21:31.200
a podcast. He was speaking to Belinda Carlisle of the

474
00:21:31.240 --> 00:21:34.400
Go Gos. Did you know that she has actually not

475
00:21:34.480 --> 00:21:37.279
lived in the States for many, many years. She has

476
00:21:37.359 --> 00:21:41.240
lived a very a very long time in Indonesia and

477
00:21:41.359 --> 00:21:45.119
in France, and now she's currently living in Mexico City

478
00:21:45.359 --> 00:21:47.640
and she only comes back to the States to do

479
00:21:47.720 --> 00:21:49.720
performances with the Go Gos or if she has some

480
00:21:49.839 --> 00:21:52.759
kind of commitment socially. But she hasn't lived here for

481
00:21:52.799 --> 00:21:55.839
one hundred years and she really loves it actually, So

482
00:21:55.920 --> 00:21:57.960
I just thought that's an interesting person to call out.

483
00:21:58.160 --> 00:22:01.039
Well, you know, since you're on that conversation, I was

484
00:22:01.079 --> 00:22:04.799
thinking about why people choose to leave the US to

485
00:22:04.880 --> 00:22:07.440
move somewhere else. You mentioned a couple of ideas, is

486
00:22:07.480 --> 00:22:11.319
you know, they just maybe they really enjoyed spending time

487
00:22:11.440 --> 00:22:14.279
vacationing in X country and you know if they went

488
00:22:14.359 --> 00:22:16.759
multiple times, like you know what, when we retire, let's

489
00:22:16.759 --> 00:22:20.440
consider moving here. So there's that, right, So there's something

490
00:22:20.759 --> 00:22:24.359
drawing them to another country for like an easier life,

491
00:22:24.359 --> 00:22:27.759
a quieter life, you know, not so frenetic as it

492
00:22:27.799 --> 00:22:29.880
is here, as it has been here. And some are

493
00:22:30.519 --> 00:22:35.079
politically motivated. When a certain person was possibly going to be,

494
00:22:36.039 --> 00:22:39.000
you know, winning the presidency, someone said, if this person wins,

495
00:22:39.599 --> 00:22:44.720
I'm leaving the US. Some did, right, ye Generous moved

496
00:22:44.759 --> 00:22:46.200
to Ireland.

497
00:22:46.319 --> 00:22:49.599
I believe Rosie O'Donnell moved to Ireland. I believe. I'm

498
00:22:49.599 --> 00:22:51.599
not sure where Ellen went. Where did she? Did she

499
00:22:51.640 --> 00:22:52.400
go to Ireland too?

500
00:22:52.599 --> 00:22:52.799
Well?

501
00:22:52.960 --> 00:22:56.480
There there were photos of her in Ireland. Maybe she

502
00:22:56.519 --> 00:22:59.000
doesn't live there, but anyway, but that's just you know,

503
00:22:59.039 --> 00:23:02.799
one example. But we'll say that George Clooney has a

504
00:23:02.880 --> 00:23:05.920
home in Italy La Cuomo, that he's lived there for

505
00:23:06.039 --> 00:23:09.440
years and it wasn't politically motivate. I think this's like

506
00:23:09.640 --> 00:23:11.400
they just didn't want to be stuck in the rat

507
00:23:11.480 --> 00:23:15.319
race of Hollywood and you know, California, and they just

508
00:23:15.359 --> 00:23:17.480
wanted to He had the money and they had, you know,

509
00:23:17.880 --> 00:23:20.000
a nicer lifestyle to raise their family there.

510
00:23:20.079 --> 00:23:22.640
So they did it for different reasons. And that's his

511
00:23:22.759 --> 00:23:23.079
main home.51200:23:23.119 --> 00:23:25.319



We may, you know, obviously they could have multiple homes,51300:23:25.319 --> 00:23:26.920



but that's the one he lives in most of the time.51400:23:27.279 --> 00:23:28.559



And I think you've been invited.51500:23:29.279 --> 00:23:31.240



Well, no, he and I don't speak anymore because we51600:23:31.319 --> 00:23:33.519



broke up and I've got a restraining order on it.51700:23:33.519 --> 00:23:35.359



It's a long story. We can't go We'll do that51800:23:35.400 --> 00:23:38.960



on another podcast. But to your point, to your point51900:23:39.039 --> 00:23:41.640



like change of pace and new experiences, I think that's52000:23:41.680 --> 00:23:43.960



a really big thing because you know, if you're living52100:23:44.079 --> 00:23:46.640



who knows where you're living in the States, but change52200:23:46.640 --> 00:23:49.599



of pace, I mean adjusting to a European life or52300:23:49.640 --> 00:23:52.920



a South American life or a life in Mexico, very52400:23:52.920 --> 00:23:56.680



different things. So I think your mindset has to be prepared.52500:23:56.799 --> 00:23:59.720



And of course you said you've had to visit first,52600:23:59.759 --> 00:24:02.440



but I think sometimes it's a little more difficult for52700:24:02.640 --> 00:24:06.039



older people to make that adjustment. So you've really got52800:24:06.039 --> 00:24:09.400



to be prepared in your mind to be open to52900:24:09.519 --> 00:24:12.000



these changes. The other thing that comes up with a53000:24:12.119 --> 00:24:15.440



change of pace and new experiences is your family. Does53100:24:15.480 --> 00:24:18.119



your family will they be able to come and visit you.53200:24:18.519 --> 00:24:21.480



I think this couple in the sixty minutes piece, they53300:24:21.519 --> 00:24:22.920



said they couldn't get rid of their family.53400:24:22.920 --> 00:24:25.599



They kept visiting them, right, So it's a double edged53500:24:25.640 --> 00:24:25.920



sit No.53600:24:26.400 --> 00:24:28.319



In that same story, there was another woman who they53700:24:28.359 --> 00:24:30.799



interviewed in the same story that she also lived on53800:24:30.799 --> 00:24:33.079



the same island, and she's the one that said, don't53900:24:33.119 --> 00:24:35.000



you get lonely because she moved there by a Sasha like, no,54000:24:35.000 --> 00:24:36.559



why people are visiting like every week?54100:24:37.000 --> 00:24:39.799



So and I was very impressed with that woman too54200:24:39.799 --> 00:24:42.920



because she did this on her own. But again back54300:24:42.960 --> 00:24:45.440



to the other point, she's open to new experiences.54400:24:45.519 --> 00:24:47.160



She was ready for a change.54500:24:47.640 --> 00:24:50.119



And as you mentioned with George Clooney, my you know54600:24:50.319 --> 00:24:52.559



George Clooney and I, well we can't talk about that54700:24:52.599 --> 00:24:56.079



on sure, but it's a change of it's a brand54800:24:56.160 --> 00:24:59.599



new experience. So in many ways it's something that's really54900:24:59.599 --> 00:25:02.960



eye open. It can definitely be revitalize you if you're,55000:25:03.319 --> 00:25:04.920



as you said, get out of the rat race of55100:25:04.960 --> 00:25:07.759



living in the city or the mundane life of living55200:25:07.759 --> 00:25:09.599



in the middle of the country somewhere on a farm.55300:25:09.680 --> 00:25:11.640



I mean, there's a lot that you can and you55400:25:11.680 --> 00:25:15.279



can choose your experiences to which I'm it's very enticing.55500:25:15.759 --> 00:25:16.759



It's a great idea.55600:25:16.920 --> 00:25:17.440



Yeah.55700:25:17.480 --> 00:25:19.599



So yeah, there's a lot to be said for how55800:25:19.640 --> 00:25:19.839



you go.55900:25:20.039 --> 00:25:22.759



And how you go about figuring out what that destination is.56000:25:22.759 --> 00:25:24.720



That if you're someone who's traveled a lot, that could56100:25:24.720 --> 00:25:28.319



be one way. This one couple that were from Houston,56200:25:28.680 --> 00:25:32.039



he and his wife ended up moving to Barcelona, Spain,56300:25:32.240 --> 00:25:35.960



and they've written a book called Silver Nomads, and they56400:25:36.000 --> 00:25:38.079



give the same a lot of the same reasons why56500:25:38.079 --> 00:25:40.920



they move there. You know, the money go goes further56600:25:40.960 --> 00:25:44.079



there than in the US. Healthcare is of higher quality56700:25:44.119 --> 00:25:46.960



and less expensive. You will get to experience the joys56800:25:46.960 --> 00:25:49.160



of cultural exploration just by walking.56900:25:48.880 --> 00:25:49.359



Out the door.57000:25:49.720 --> 00:25:50.039



Mm hm.57100:25:51.720 --> 00:25:54.680



The best part is you can have this life while57200:25:54.720 --> 00:25:58.079



spending significantly less money than you would by living in57300:25:58.119 --> 00:25:59.920



the politically unhinged land of a man.57400:26:00.480 --> 00:26:02.920



But so he has a blog and I read a57500:26:02.920 --> 00:26:05.119



lot of the comments and they seem pretty well versed.57600:26:05.119 --> 00:26:07.279



They've done a lot of research in this book, and57700:26:07.319 --> 00:26:08.960



if you go to the website, they give a lot57800:26:08.960 --> 00:26:11.000



of tips because what about Portugal?57900:26:11.240 --> 00:26:13.599



What about this? And he seems to have done a58000:26:13.640 --> 00:26:14.319



lot of homework.58100:26:14.400 --> 00:26:16.680



So this is like their thing now is to be58200:26:16.799 --> 00:26:20.960



like a mentor to anyone who's considering in their retiring58300:26:21.000 --> 00:26:24.000



ages to consider, you know, living in.58400:26:23.920 --> 00:26:25.400



Another country, what is that like?58500:26:25.519 --> 00:26:28.079



And they give them the pros and cons and questions58600:26:28.160 --> 00:26:29.680



and you know, things to steady.58700:26:29.759 --> 00:26:31.160



So I thought that was pretty interesting.58800:26:31.720 --> 00:26:35.400



In their retirement, they've made a new life of coaching58900:26:35.440 --> 00:26:36.759



other people, and so.59000:26:36.839 --> 00:26:40.359



That's another they're reinvented, basically a career out of that.59100:26:40.599 --> 00:26:42.279



And I think, you know, it's interesting to talk to59200:26:42.599 --> 00:26:44.920



why do we think people are doing this?59300:26:45.079 --> 00:26:45.519



Why is it?59400:26:45.559 --> 00:26:47.640



I mean, obviously we talked about the pros and cons59500:26:47.680 --> 00:26:49.640



of it and you said it, Yeah, we both think59600:26:49.640 --> 00:26:51.559



it's pretty popular. I know a couple of people have59700:26:51.640 --> 00:26:54.400



actually done it, gone off and done it. The thing is,59800:26:54.839 --> 00:26:57.960



I can't imagine it's just the political climate, but I59900:26:58.000 --> 00:27:00.640



think it has a lot to do with quality of life.60000:27:00.720 --> 00:27:03.839



And as you said, and we've spoken before, finances, the60100:27:03.920 --> 00:27:07.279



reality is it's very difficult to retire in the United60200:27:07.319 --> 00:27:10.720



States unless you have X number of dollars in the bank,60300:27:10.960 --> 00:27:14.480



and it's very the healthcare can sap your savings away.60400:27:14.799 --> 00:27:17.400



And if you didn't plan, and we talked about you know,60500:27:17.599 --> 00:27:20.440



doing our financial planning on a previous episode, if you60600:27:20.519 --> 00:27:24.079



haven't done that, you have maybe a redemption by able60700:27:24.119 --> 00:27:27.079



to by making this choice to move to Europe. I60800:27:27.160 --> 00:27:29.559



have to say, on a side note, the person that60900:27:29.599 --> 00:27:32.400



I know that went there to Portugal, it was very61000:27:32.480 --> 00:27:35.039



daunting because if you think about it, they had to61100:27:35.079 --> 00:27:38.279



sell their home, They had to sell all their belongings61200:27:38.279 --> 00:27:40.960



basically unless what they could carry with them. They had61300:27:40.960 --> 00:27:44.119



to do all of the you know trips over there61400:27:44.160 --> 00:27:45.920



to find a place to live, because you can't just61500:27:45.960 --> 00:27:47.680



move over there with your bags and hope you can find.61600:27:47.519 --> 00:27:50.200



Afs to live. Plus you have to do a little research.61700:27:50.200 --> 00:27:53.079



Because I didn't know where I lived in the South61800:27:53.119 --> 00:27:55.440



Bay before I moved here. I didn't know the neighborhoods.61900:27:55.640 --> 00:27:58.240



You have to go and do some real pounding the62000:27:58.279 --> 00:28:00.519



pavement to see where you would find is a good62100:28:00.519 --> 00:28:03.200



place to live and what's recommended. So it's a very62200:28:03.279 --> 00:28:05.720



daunting experience too, it can be very scary.62300:28:05.920 --> 00:28:09.519



One of suggestions was, well, then we talk about moving there,62400:28:09.640 --> 00:28:12.400



is that don't buy something right away. What you might62500:28:12.440 --> 00:28:15.559



want to want to rent in an area that you62600:28:15.599 --> 00:28:18.920



think you're like, work with a realtor to get a62700:28:18.960 --> 00:28:21.680



feel for what's available and is this the right neighborhood62800:28:21.720 --> 00:28:23.440



or the right city that I want to be living62900:28:23.480 --> 00:28:26.200



in that want to retire in. So don't commit to63000:28:27.079 --> 00:28:29.960



because once you buy, it's like you know, that's a63100:28:29.960 --> 00:28:34.319



big chunk that you're taking on. So ren first live63200:28:34.559 --> 00:28:37.319



there for a period of time, work with locals, get63300:28:37.359 --> 00:28:41.319



more information. There's one another top ten list, the World's63400:28:41.519 --> 00:28:45.960



Top ten Retirement Havens for twenty twenty five. So if63500:28:45.960 --> 00:28:47.440



you don't know where you want to go, maybe you63600:28:47.480 --> 00:28:50.279



haven't traveled the much, but what where should I consider living?63700:28:50.440 --> 00:28:52.799



This is what they're saying. Are the top ten of63800:28:53.200 --> 00:28:56.079



where a lot of people retire. Number ten is Thailand,63900:28:57.160 --> 00:29:02.240



since you mentioned that earlier, Italy, Greece, Malaysia, Spain, France, Mexico,64000:29:02.839 --> 00:29:05.480



Costa Rica. I've heard a lot of people mentioned Portugal,64100:29:05.599 --> 00:29:08.759



and that's number two. But number one is Panama, which64200:29:08.799 --> 00:29:11.160



I've never seen any lists. And what they say about64300:29:11.200 --> 00:29:14.880



Panama is it's more developed and far more developed and64400:29:14.960 --> 00:29:16.960



modern than most people anticipate.64500:29:18.240 --> 00:29:22.799



It offers first world convenience at Central American prices. It's64600:29:22.839 --> 00:29:23.960



not like the way that they worded that.64700:29:24.480 --> 00:29:26.279



So you can still take a taxi cross for a64800:29:26.319 --> 00:29:29.480



few dollars see the latest blockbuster film for about six dollars.64900:29:29.559 --> 00:29:30.599



You know, blah blah, you can do this.65000:29:30.720 --> 00:29:32.960



You can have a main course and glass of wine65100:29:32.960 --> 00:29:35.880



at one of the cities in numeraal restaurants for twenty dollars,65200:29:35.920 --> 00:29:38.319



so against one of those where your money goes a65300:29:38.359 --> 00:29:41.599



lot further there. So yeah, cost of living is it's65400:29:41.640 --> 00:29:44.079



not the cheapest country in the region, but your dollar65500:29:44.119 --> 00:29:46.240



will still stretch further than it does.65600:29:46.160 --> 00:29:47.640



Up north, meaning US.65700:29:47.759 --> 00:29:52.000



So they said a couple can live well here Panama65800:29:52.039 --> 00:29:55.119



for twenty five hundred dollars a month or less including rent.65900:29:55.319 --> 00:29:57.880



But you know, again everyone's going to have a different experience.66000:29:57.920 --> 00:29:59.920



Well, let me ask you, Gary, what do you think66100:30:00.200 --> 00:30:01.880



what do you think the reason is for all this66200:30:02.200 --> 00:30:05.440



new found I mean, if you were decided, like if66300:30:05.440 --> 00:30:07.480



you could choose the top two reasons, what.66400:30:07.359 --> 00:30:08.160



Do you think they would be.66500:30:08.480 --> 00:30:10.440



So I always thought that one of them would be66600:30:11.880 --> 00:30:14.720



I call it a fantasy to like live out your66700:30:14.720 --> 00:30:17.559



remaining years in a place that you have to have66800:30:17.680 --> 00:30:19.359



visited because you have to be familiar with it, Like,66900:30:19.400 --> 00:30:23.279



you know, I have an affinity to Spain and Italy67000:30:23.400 --> 00:30:27.200



and France, right, So not that I would retire there,67100:30:27.240 --> 00:30:29.279



but had I thought about it, like oh gosh, what67200:30:29.400 --> 00:30:32.240



I consider buying a place, but then you think you're67300:30:32.319 --> 00:30:34.400



so far away and to do it on your own,67400:30:34.519 --> 00:30:37.200



that's that that would be I would not consider that67500:30:37.240 --> 00:30:38.920



on my own. So I think part of it is67600:30:38.920 --> 00:30:43.920



the fantasy of living that la dolce vita, you know,67700:30:44.160 --> 00:30:47.400



with the plazas and the you know, just people hanging out,67800:30:47.480 --> 00:30:49.759



and especially if you live in a small town, there's67900:30:49.799 --> 00:30:52.960



that sense of community. Then maybe you don't get here68000:30:53.200 --> 00:30:55.839



where you live because everyone's you know, behind.68100:30:55.519 --> 00:30:57.759



Their door or you know, at the computer.68200:30:58.559 --> 00:31:02.240



Maybe it's it's an easy, your eighter life. So that's68300:31:02.519 --> 00:31:05.079



the fantasy part of it. The other one they could68400:31:05.119 --> 00:31:12.279



just be for financial reasons, right thinking about you know,68500:31:13.000 --> 00:31:16.119



since try my finances again. More tables to look at68600:31:16.519 --> 00:31:19.920



Federal Reserve Survey of Consumer Finances. This is from twenty68700:31:20.000 --> 00:31:23.160



twenty two. Is what the average retirement savings should be.68800:31:23.839 --> 00:31:26.480



They say from ages fifty five to sixty four, you68900:31:26.480 --> 00:31:29.599



should have over five hundred thousand dollars in savings sixty69000:31:29.599 --> 00:31:32.599



five to seventy four over six hundred thousand. So talk69100:31:32.640 --> 00:31:36.119



about you know, when you're planning ahead, why like I have.69200:31:37.759 --> 00:31:38.680



Four to one case.69300:31:39.240 --> 00:31:42.400



They talk about some you know companies may not offer that.69400:31:42.759 --> 00:31:48.160



So are you saving money on your own towards the future?69500:31:48.279 --> 00:31:49.799



I think when you're younger, you don't think about it69600:31:49.839 --> 00:31:50.880



as you get older.69700:31:50.599 --> 00:31:51.279



Like they said.69800:31:51.359 --> 00:31:54.559



Another recommendation is at age sixty you should have eight69900:31:54.680 --> 00:31:58.799



times your annual salary set aside in retirement savings. This70000:31:58.880 --> 00:32:01.559



is that to jell and maintain current lifestyle in retirement,70100:32:01.680 --> 00:32:03.440



by age sixty seven, you should have ten times your70200:32:03.440 --> 00:32:04.200



annual salary.70300:32:04.279 --> 00:32:07.599



Right, That's it's very daunting. The things to consider is like.70400:32:07.799 --> 00:32:11.759



You know, planning ahead at what age drive on retire right?70500:32:11.839 --> 00:32:13.799



And how much you have to map out how much70600:32:13.880 --> 00:32:17.400



am I spending now? And thinking to the future because70700:32:17.440 --> 00:32:19.839



I've already I did this exercise with my financial planner.70800:32:20.039 --> 00:32:23.759



Was okay, so we're looking at age.70900:32:23.640 --> 00:32:26.680



Sixty seven, okay, so how much are you spending now?71000:32:26.720 --> 00:32:30.160



And we did ald spreadsheet of everything your monthly expenses71100:32:31.680 --> 00:32:34.839



and then factoring in some things going up obviously, and71200:32:34.880 --> 00:32:36.960



then looking at what do we have right now in71300:32:37.000 --> 00:32:40.279



my two accounts. But still it's just scary because you know,71400:32:40.279 --> 00:32:45.160



it's the un known, it's the unexpected hospital stay. It's like, oh,71500:32:45.200 --> 00:32:48.519



I need to buy a new car because mine has died.71600:32:49.039 --> 00:32:52.400



There's unexpected expenses that throw a wrench into what you71700:32:52.440 --> 00:32:55.920



thought was, Oh, I'm good with this every month. So71800:32:56.119 --> 00:32:58.799



it's difficult to plan ahead. But there should be a71900:32:58.799 --> 00:33:00.880



lot of planning that you should we should.72000:33:00.680 --> 00:33:01.119



Be working on.72100:33:01.640 --> 00:33:02.559



Yeah, and I would.72200:33:02.640 --> 00:33:05.279



I would say I don't have a desire to go72300:33:05.319 --> 00:33:08.240



and move to Europe myself, although it be as a72400:33:08.279 --> 00:33:10.440



fantasy as you said, it would be great. I love72500:33:10.480 --> 00:33:12.119



to pull my own under the Tuscan sun.72600:33:12.680 --> 00:33:13.759



I would love to do that.72700:33:14.319 --> 00:33:16.400



And I actually have another friend whose name is Tim,72800:33:16.440 --> 00:33:20.319



who actually went to France, bought a small, really old72900:33:20.359 --> 00:33:23.519



building in Bordeaux and has been renovating it.73000:33:23.559 --> 00:33:25.680



But he also travels. He and he takes advantage of73100:33:25.720 --> 00:33:26.119



all of it.73200:33:26.480 --> 00:33:28.799



I don't know that I would take advantage of traveling,73300:33:29.000 --> 00:33:31.519



but I would say, in my opinion, the number one73400:33:31.599 --> 00:33:36.519



reason for people moving is financial and healthcare. As a subnote, financially,73500:33:36.559 --> 00:33:40.759



because as you said, the statistics you gave us requires73600:33:40.799 --> 00:33:44.920



so much money to be scrolled away in retirement in73700:33:44.960 --> 00:33:47.799



the States, where if you have not done the planning,73800:33:47.799 --> 00:33:49.480



and we mentioned this briefly before, but if you have73900:33:49.480 --> 00:33:51.359



not done the planning, or you haven't had the time,74000:33:51.680 --> 00:33:54.720



or something stopped you from reaching those milestones in your74100:33:54.720 --> 00:33:58.400



savings career or your savings journey, you're not screwed, but74200:33:58.480 --> 00:34:00.799



you can have a much better chance of having a74300:34:00.920 --> 00:34:04.359



quality of life in Europe. So I would say it's74400:34:04.480 --> 00:34:09.440



financial first. Political definitely as a subnote, but financial and healthcare.74500:34:10.199 --> 00:34:13.440



It's daunting living here in the States. It's so crazy.74600:34:13.480 --> 00:34:16.800



It's so expensive to live here, not just we're conditioned74700:34:17.199 --> 00:34:21.960



in California, but because we're desensitized from costs because it's74800:34:22.000 --> 00:34:24.119



just always so expensive. I mean, I think it's a74900:34:24.239 --> 00:34:26.639



very I think it's a very good idea for people75000:34:26.679 --> 00:34:27.320



to consider it.75100:34:27.519 --> 00:34:29.320



What we're going to say, I'm sorry, yeah, no, I75200:34:29.320 --> 00:34:30.079



can't find it right now.75300:34:30.079 --> 00:34:32.000



But one of the things that I had written down75400:34:32.000 --> 00:34:35.199



and I can't find it on my notes was that currently,75500:34:35.599 --> 00:34:38.679



at least Americans are not saving as much as they75600:34:38.760 --> 00:34:41.440



used to for higher costs of living or all the.75700:34:41.400 --> 00:34:42.800



Unexpected things that come up.75800:34:42.960 --> 00:34:45.639



So when I see all these articles that pop up,75900:34:45.679 --> 00:34:47.960



like how far will a million dollars go and save me?76000:34:48.000 --> 00:34:49.840



It's like, I'm when am I going to reach a76100:34:49.840 --> 00:34:52.880



million dollars? In says, right, can I retire in a76200:34:52.880 --> 00:34:53.400



million dollars?76300:34:53.480 --> 00:34:53.559



Like?76400:34:54.360 --> 00:34:56.480



Well, if I get there, i'll let you know. But76500:34:57.760 --> 00:34:58.480



I think it's just.76600:34:58.639 --> 00:35:05.519



Very overwhelming to think about how much you need to76700:35:05.519 --> 00:35:08.079



have because we don't know how long we're going to live, right,76800:35:08.320 --> 00:35:12.840



you know, half jokingly with my financial planner. He says, well,76900:35:12.960 --> 00:35:15.119



I go, my mom is going to be ninety eight77000:35:15.559 --> 00:35:17.760



this year. My dad lived to be ninety two. My77100:35:17.800 --> 00:35:19.639



two grandmothers lived in ninety two. Because oh, well, then77200:35:19.679 --> 00:35:21.840



you're gonna you got a plan for other thirty years,77300:35:21.840 --> 00:35:22.800



like thirty years?77400:35:23.039 --> 00:35:25.280



Well, Gary, I'm only planning to work for or five77500:35:25.320 --> 00:35:25.880



more years.77600:35:26.320 --> 00:35:30.119



Yes, but I was told I was just editing. I'm77700:35:30.199 --> 00:35:34.119



finishing editing our podcast about financial planning. Basically, we've told77800:35:34.159 --> 00:35:35.599



each other that we have to live to at least77900:35:35.679 --> 00:35:38.239



ninety five, so that's what our financial and I think78000:35:38.280 --> 00:35:40.719



you actually you took ninety five. I said ninety three,78100:35:41.320 --> 00:35:44.719



and that's a long shot. But I mean, you're absolutely right.78200:35:44.800 --> 00:35:47.840



It's very scary. It is scary, and the fact that78300:35:47.880 --> 00:35:51.760



you can have a possible better quality of life outside78400:35:51.760 --> 00:35:55.039



of the country is a very real dream for people78500:35:55.079 --> 00:35:57.079



right now. I think that they're there. As you say78600:35:57.119 --> 00:35:58.679



that people are not saving the way you used to.78700:35:58.679 --> 00:36:02.079



We're boomers, so we were kind of taught to do78800:36:02.119 --> 00:36:03.639



that because our parents.78900:36:03.280 --> 00:36:06.239



Were also probably very frugal.79000:36:06.519 --> 00:36:09.440



They didn't spend a lot of money, you know, outlandishly.79100:36:09.639 --> 00:36:11.800



We're a little we're much better at it. But I79200:36:11.800 --> 00:36:14.599



would say the generations that are coming up are not79300:36:14.719 --> 00:36:16.039



saving money at all.79400:36:16.320 --> 00:36:18.599



So it's well, I'll be honest with me, Like you know,79500:36:19.000 --> 00:36:22.119



the goal is to contribute to your foe can a79600:36:22.159 --> 00:36:25.360



monthly basis, Like I live alone and I have my79700:36:25.400 --> 00:36:28.400



mortgage and like all the expense everyone else does and79800:36:28.519 --> 00:36:32.679



I do not. I have not contributed in quiet some79900:36:32.880 --> 00:36:35.519



time to one of my accounts. The other one actually80000:36:35.599 --> 00:36:37.559



the company started. So all the one is that there80100:36:37.719 --> 00:36:38.440



they put in there.80200:36:38.440 --> 00:36:38.920



I haven't.80300:36:39.320 --> 00:36:40.719



That's great, but they're matching.80400:36:41.199 --> 00:36:42.159



I just yeah.80500:36:42.239 --> 00:36:45.079



So but with the two accounts, it's you know, it's80600:36:44.840 --> 00:36:47.440



it's it's a nice amount, but it's still daunting to80700:36:47.480 --> 00:36:49.400



think about thirty more years.80800:36:49.400 --> 00:36:52.559



What oh. But here's the thing that like we're kind80900:36:52.559 --> 00:36:54.920



of going this path. But some things that I've noticed81000:36:54.920 --> 00:36:57.280



and we're kind of doing the same thing. People who81100:36:57.320 --> 00:37:00.400



are saving money are not bragging about saving money. Also,81200:37:00.480 --> 00:37:03.119



are not buying a new car every two years like81300:37:03.159 --> 00:37:05.880



a lot of people do. They're not moving all the time.81400:37:06.000 --> 00:37:08.760



They're not ordering door dash for every meal.81500:37:08.880 --> 00:37:12.039



So you and I, we don't do that. Our people81600:37:12.079 --> 00:37:15.239



don't do that. Something. Here's the weirdest thing I found.81700:37:15.480 --> 00:37:17.519



And I didn't realize this until I started looking at81800:37:17.519 --> 00:37:19.880



my statements a little more closely. Do you know I'm81900:37:19.920 --> 00:37:23.599



spending I was spending close to three hundred dollars a82000:37:23.639 --> 00:37:26.000



month on Starbucks. Go off on the weekend, you buy82100:37:26.039 --> 00:37:27.199



your friend, I want to buy you a coffee.82200:37:27.239 --> 00:37:28.719



Let's do this. And so I was literally.82300:37:28.559 --> 00:37:32.039



Spending about three hundred maybe more a month. So you82400:37:32.079 --> 00:37:34.239



know what I did. I went to Nordstrom Cafe. I82500:37:34.320 --> 00:37:37.960



bought two pounds of their espresso coffee, and I'm bringing82600:37:38.000 --> 00:37:41.199



my coffee to work now and I'm using that coffee82700:37:41.440 --> 00:37:44.320



and what costs twenty five dollars as opposed to.82800:37:44.360 --> 00:37:45.519



Three hundred dollars.82900:37:45.519 --> 00:37:48.079



These are these things that you can do if you83000:37:48.199 --> 00:37:51.159



make those adjustments. You like to walk, You're not driving.83100:37:51.280 --> 00:37:53.440



You were driving to work, and we've talked about this before.83200:37:53.800 --> 00:37:56.599



You're saving so much money on your commute.83300:37:56.119 --> 00:37:58.639



Now, right, oh yeah, yeah, yeah, so.83400:37:58.920 --> 00:37:59.960



There's another way to channel.83500:38:00.000 --> 00:38:01.719



I'm in my car to day to run some errands.83600:38:01.719 --> 00:38:03.559



I'm like, wow, I still have like almost a full83700:38:03.599 --> 00:38:05.199



tanke a gas because I haven't used my.83800:38:05.159 --> 00:38:07.800



Car, right, And I think that's a pretty good thing.83900:38:07.840 --> 00:38:10.960



And those those even though they're not massive amounts of money,84000:38:10.960 --> 00:38:13.719



they are money that you spent every month that you84100:38:13.719 --> 00:38:16.920



can now sock away or take that money and literally84200:38:16.920 --> 00:38:19.199



just say okay, whatever that number was, you say, okay'm84300:38:19.199 --> 00:38:20.119



gonna take that money now.84400:38:20.000 --> 00:38:20.760



And put it away.84500:38:20.880 --> 00:38:22.920



So I know we went off a little side note84600:38:23.000 --> 00:38:25.480



on this, but I think, you know it's important as84700:38:25.519 --> 00:38:28.960



we are aging with this option. If I had, if84800:38:29.000 --> 00:38:30.760



I had the wherewithal to do it, yeah, I would84900:38:30.800 --> 00:38:32.679



love to try and move to Spain and get a85000:38:32.679 --> 00:38:35.639



place the travel to and from. I mean, I'd want85100:38:35.679 --> 00:38:38.039



to spend like I'd like to spend the season in85200:38:38.159 --> 00:38:40.880



Spain and come back whatever the season is, you know,85300:38:40.880 --> 00:38:42.239



maybe this the winters.85400:38:42.440 --> 00:38:45.400



You know, there's a woman I think of who she's85500:38:45.440 --> 00:38:48.960



from Canada, and every year and I don't know how long,85600:38:49.079 --> 00:38:51.679



but it's probably a few months, like maybe a whole85700:38:51.960 --> 00:38:55.639



summer or something. That she goes down to Maslan and85800:38:55.719 --> 00:38:58.280



she rents a place at a little hotel there that85900:38:58.360 --> 00:39:01.440



is run by my family. So what they have on86000:39:01.639 --> 00:39:05.320



site storage for her so that they have her personal86100:39:05.360 --> 00:39:08.199



furniture that's in storage, and what she tells them, I'm86200:39:08.239 --> 00:39:10.960



coming on the twelve and they will get her unit ready.86300:39:11.000 --> 00:39:12.960



They take out the stuff that's normally there and they86400:39:12.960 --> 00:39:15.360



rent out and they put in her furniture for the86500:39:15.559 --> 00:39:17.480



season X number of months as she's there.86600:39:17.960 --> 00:39:20.679



And she's been doing that consistently for years. That's her86700:39:20.800 --> 00:39:21.159



way of doing.86800:39:21.239 --> 00:39:22.920



So she still has her place in Canada and has86900:39:22.960 --> 00:39:25.480



your life there. And I don't know if she comes87000:39:25.519 --> 00:39:28.000



by herself or friends and family come to visit, but87100:39:28.599 --> 00:39:29.400



this is her thing.87200:39:29.559 --> 00:39:30.320



So you don't.87300:39:30.119 --> 00:39:33.480



Necessarily have to bite off the whole thing and completely87400:39:34.039 --> 00:39:36.440



move and sell everything and sell all your belongings to87500:39:36.480 --> 00:39:39.199



move somewhere else if you're able to, if your house87600:39:39.280 --> 00:39:41.480



is paid off, and whether you want to rent it87700:39:41.519 --> 00:39:44.239



while you're gone or not, you have that to come87800:39:44.239 --> 00:39:47.480



home to and either travel or have a second home87900:39:47.519 --> 00:39:48.000



somewhere else.88000:39:48.480 --> 00:39:50.800



Yes, you have the finances to do that.88100:39:51.280 --> 00:39:55.679



Yep. So it's a very enticing idea.88200:39:56.320 --> 00:39:58.719



It is. I don't know if I can do it.88300:39:58.840 --> 00:40:00.760



I mean I would like to do it, but I88400:40:00.800 --> 00:40:01.400



don't know if I.88500:40:01.639 --> 00:40:03.320



Would you would you like to do it? If you88600:40:03.320 --> 00:40:05.480



are if you had the funds, would you do it?88700:40:05.840 --> 00:40:06.639



Well, here's the thing.88800:40:06.599 --> 00:40:09.880



You know, being single, If I were in a relationship88900:40:09.920 --> 00:40:12.360



and the other and my partner wanted to do it,89000:40:12.800 --> 00:40:17.239



that would give me more you know, I would want89100:40:17.280 --> 00:40:19.480



to do that, right, But it's just by myself.89200:40:20.199 --> 00:40:22.159



I don't think.89300:40:21.519 --> 00:40:24.519



It's not for everybody. And as we said, it's a89400:40:24.599 --> 00:40:30.360



daunting task preparing for it mentally and also just financially89500:40:30.480 --> 00:40:33.559



and also physically, so there's a lot of things it89600:40:33.599 --> 00:40:36.119



can be scary. But I would say I agree with you.89700:40:36.199 --> 00:40:40.119



It's definitely a growing trend. It is definitely getting a89800:40:40.159 --> 00:40:42.159



lot of popularity and a lot of press.89900:40:42.679 --> 00:40:42.920



Yeah.90000:40:42.960 --> 00:40:46.119



I think that the takeaway is do your homework, talk90100:40:46.159 --> 00:40:48.519



to anyone who's done it or thinking about doing it.90200:40:48.559 --> 00:40:51.400



Talk to experts, because there's so many things that could90300:40:51.400 --> 00:40:52.039



go wrong.90400:40:53.760 --> 00:40:55.679



If you don't know. Oh I never thought about that.90500:40:57.400 --> 00:41:00.519



So there's so many resources out there and so many90600:41:00.519 --> 00:41:02.800



people to do it, to talk to you about it,90700:41:02.840 --> 00:41:05.280



because that's a that's a big life change.90800:41:05.559 --> 00:41:06.760



Yep, to do.90900:41:06.760 --> 00:41:07.639



That, one can.91000:41:08.960 --> 00:41:09.679



One can dream.91100:41:09.760 --> 00:41:11.360



I might call George back and see if we want91200:41:11.360 --> 00:41:12.920



to get tack together and maybe let me come to91300:41:12.960 --> 00:41:13.800



Lake Guomo again.91400:41:13.920 --> 00:41:16.559



I'm sure he's got the space for you, yeah, in91500:41:16.639 --> 00:41:17.039



his heart.91600:41:20.320 --> 00:41:22.199



So did we Did we cover this one? Well? Do91700:41:22.280 --> 00:41:22.599



you think?91800:41:22.760 --> 00:41:23.199



I think so?91900:41:23.760 --> 00:41:28.280



No, Hopefully it's opened up some curiosity in folks who92000:41:28.320 --> 00:41:29.480



maybe considered it and.92100:41:29.400 --> 00:41:33.840



Maybe we want to yes, you know, do your research.92200:41:33.960 --> 00:41:35.320



Check out Silver Nomads.92300:41:35.679 --> 00:41:39.480



One of the websites is called International Living I believe, okay,92400:41:41.440 --> 00:41:42.239



and they have a lot.92500:41:42.079 --> 00:41:44.920



Of information there. So there's definitely a lot of information92600:41:45.000 --> 00:41:45.599



out there too.92700:41:46.320 --> 00:41:49.679



And you know what's good, Gary, all all the sources92800:41:49.679 --> 00:41:51.800



that we're using today on this podcast, I'm going to92900:41:51.840 --> 00:41:56.119



put on our blog on the blog page for this episode.93000:41:55.960 --> 00:41:57.280



Silver No Mads.93100:41:57.719 --> 00:41:58.000



Okay.93200:41:59.760 --> 00:42:01.880



Yeah, So there's a lot of things out there. There's93300:42:01.920 --> 00:42:04.800



also another podcast that I listen to call Where Gays Retire,93400:42:05.199 --> 00:42:09.840



which is this gentleman. His name is Mark Goldstein. So Mark,93500:42:09.880 --> 00:42:11.400



if you're listening, and we hope to get you on93600:42:11.440 --> 00:42:14.119



the podcast sometime. He actually does this really cool podcast93700:42:14.159 --> 00:42:17.360



called Where to Gaze Retire. He actually goes to different93800:42:17.400 --> 00:42:21.079



couples or individuals who have retired outside of the country93900:42:21.320 --> 00:42:24.800



and he talks about that experience, including the country. And again,94000:42:24.880 --> 00:42:26.400



I think eventually we're going to go on to talking94100:42:26.400 --> 00:42:30.119



about communal living soon because that's actually another trends developing.94200:42:30.719 --> 00:42:34.599



But for now, do you think we covered the topic?94300:42:34.639 --> 00:42:36.800



Well, I think so because you got someone behind you94400:42:36.840 --> 00:42:38.480



who's probably needing a little walkie.94500:42:38.519 --> 00:42:39.320



Oh yes, he does.94600:42:39.519 --> 00:42:42.519



So if you're ready to shut this one down, already94700:42:42.559 --> 00:42:45.239



shut you down, because you know I'm done talking to you.94800:42:49.400 --> 00:42:50.760



Anyway, shut it down.94900:42:51.000 --> 00:42:53.159



Okay, thank you for joining us at Don and Gary95000:42:53.199 --> 00:42:56.039



doing sixty. We hope you enjoyed spending quality of time95100:42:56.079 --> 00:42:59.079



with us. Join us next time, as we discover we95200:42:59.159 --> 00:43:01.119



are a few Santa, which is short of.95300:43:01.079 --> 00:43:02.039



A full picnic.95400:43:05.039 --> 00:43:06.000



Don't now I'm hungry.95500:43:06.480 --> 00:43:10.719



Don't forget our new website hosted by pod page, and95600:43:10.800 --> 00:43:12.920



I'll be posting that in our links so you can95700:43:12.960 --> 00:43:17.119



see where all that is. I'm were available at Apple Podcasts, Spotify,95800:43:17.880 --> 00:43:21.599



YouTube at five for pod on Instagram. But again, we95900:43:21.639 --> 00:43:23.880



really want to push to that website so you can96000:43:24.000 --> 00:43:26.920



leave us voicemails and leave us comments. I'll be posting96100:43:26.960 --> 00:43:29.119



all of that in the bio below, on our notes96200:43:29.159 --> 00:43:32.119



inside the pages, on YouTube and on Instagram and on96300:43:32.199 --> 00:43:32.960



the website.96400:43:33.119 --> 00:43:35.199



So Gary, I'll see you next time.96500:43:35.400 --> 00:43:36.000



Sounds good.96600:43:36.320 --> 00:43:38.519



Okay, Well, talk to you later, Gator.96700:43:38.760 --> 00:43:40.239



Alrighty bye.96800:43:40.880 --> 00:43:43.960



Keep your passport current, yes, don't forget to spend new96900:43:44.039 --> 00:43:44.639



to your pets.