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Highlights from this episode include:

  • The first step to planning your foreign retirement and how to not destroy your plans before you even get started (6:40)
  • How to ensure you pick a country that is both safe and affordable (so you don’t go broke or get killed by the locals) (7:20)
  • The cost-conscious way to live in more than one country, preserving your savings and preventing mind-numbing boredom in retirement (9:04)
  • Ending the judgment and stress of “keeping up with the Joneses” is simple when you choose a retirement location by these standards (11:09)
  • Avoid an early death and give your retirement a purpose by doing this (12:18)
Read Full Transcript

Do you hate the thought of working past 55 or 60? Do you hate not being able to live the life you deserve today? Do you hate not knowing what your financial future looks like? It's time to stop doing what you hate, here's your host, Mr. Harold Green.

00:19 Hello. Hi everybody. This is Harold Green of Brightree financial and it is seriously time to stop doing what you hate. How's everybody doing? How? How's your week? Hopefully a, you had a fantastic week. I had a pretty good week for myself and I'll share a little bit about how it went, but today's show title is retiring in a foreign country. I know that may sound foreign to some of you folks, but it's actually something that a lot of people are looking into for several different reasons. Well, let's talk about my week. This week was interesting for me because it was the first time and about four, maybe five years that I've gone to a barber that's right. Four or five years. I've been used to cutting my hair for a very long time and I'm very picky about my hairstyle and how I want it done. But a, a good friend of mine referred me to a barbershop and so I wanted to check it out.

01:20 So I scheduled an appointment and I went there and I was waiting for the shop to open. Now what's interesting about this barbershop is where it's located. Now, if you're here in Hawaii, you may want to check this place out. It's pretty good. I think it's called a barbershop 61 and it is located in a car dealership area. Now in this car dealership, they have all different types of luxury cars. They have Audi, they have, I think, Bentley for Rari, Lamborghini, Mazo, Rotty range Rover, land Rover. And so before the shop opened, I was there just kind of walking around and I figured since I was there, I might as well do a little vision mapping now. So you may not know what vision that vision mapping is, but you can check it out on the internet and as one of the things that very successful people do or what people do in order to become super successful.

02:17 I've been doing vision mapping for a very long time and it started when, when I was working at a different company and I would just drive through super nice neighborhoods, just kinda kind of imagining myself there, putting myself in that neighborhood. And it was a super exciting thing because it gave me a lot of passion and motivation to work hard. But anyway, in this dealership, while I'm waiting, okay for the barbershop to open, there's Lamborghini's and things like that. And so I figured, Hey, let me just go check them out. Not that I ever want to drive one, don't get me wrong. I'm not a trying to be super successful so that I can drive a Lamborghini. My thing is I want to be super successful to help other people and always been my goal. But in order to be able to produce enough to make a big difference in the world, you gotta be successful.

03:06 It's really hard without it. So I'm walking up to the cars and what's the first thing I do is I my or the car, and then I look at the sticker price, my goodness. $343,000 for a supercar. All right. I was kinda shocked, but not really because I've seen sticker prices and things like that before, but I wanted to kind of get in my head, all right, what is it that I have to do in order to produce this kind of revenue in order to be what I call a success and to help other people. But anyway, the shop finally opened up and went and got my haircut and that was one of the best haircuts I've had in a very long time. My point about vision mapping is this, if you can't see yourself with something, you may start to resent other people who actually have it.

04:01 Okay. And so this kind of leads me into retiring in a foreign country. Can you see yourself retiring in a foreign country? I can. And so one of the things I do in my firm is I help my clients through a program called rapid retire. It puts them in position to retire seven to 10 years sooner than they normally would, but it also puts them in position to be able to retire anywhere in the world. Now, there's no guarantee that you're going to be able to retire in seven years or any time frame sooner because the results of rapid retire will vary by user. So you guys ready? One, two, three. Let's get it now. What are some of the top reasons to retire and a foreign country? One of the biggest reasons why you may want to consider retiring in a foreign country is the cost.

04:54 There's places such as Mexico, depending on where you go. In Mexico, it could be a little bit dangerous, but there are some really nice places in Mexico that are not super expensive to retire. It's close to the United States. So one of the things is if you did retire in Mexico, it's easier to get back to the United States. For healthcare to see family and things of that nature. Now talking about costs and some of the foreign countries like Spain or Greece and maybe Thailand, maybe even Korea, not so sure about China, but I do have clients that are in China right now that have retired, well, they're not retired. They're, I retired but they, they are successful in their own right and so they decided to move their family to China for a while while the kids are, are young and so they do, they do come back and forth.

05:45 But the cost, my God, the costs are extremely low and some of these foreign countries you can live on, get this no as little as $2,000 a month and have a really good, nice middle class lifestyle. You can either buy a home or you can rent a home. I would prefer probably to rent a place in that way. I get to move around and check out different parts of the country and I'm, I don't have to stay in one place. One of the interesting things about owning a home in a foreign country is if you decide to do it now and you're going to retire, say maybe 30 years later, it might be a very good investment. And so you can buy that investment rented out and so on and so forth, all while you're getting yourself ready to retire. And so that way you're not wasting, you're not wasting the asset.

06:37 And so if you buy now that that could be a pretty good idea. However, there's some people in those countries that are kind of beating us to the punch. And so they all know that these countries are cheaper. A lot of countries still have pension plans and things like that because they're socialist countries. And so people do decide to take their pensions and go elsewhere because simply they simply last longer. But because a lot of these places are starting to become in high demand, people are snapping them up and starting to pay premium prices for it. So I'd just encourage you to begin to do your research ahead of time and start to put your ducks in a row, especially if you're looking at potentially retiring an a and a different country. Now. I've had experiences in a lot of different countries. I've been in Japan, I've been in the middle East, Abu Dhabi, Dubai, I've been to Hong Kong, Thailand, Singapore, Australia, Korea, and thankfully when I was in Japan, that's where I that's where I met my wife.

07:37 My wife is from Japan and so I really enjoy going back to that country and it is in our plans to retire part-time in Japan. And one of the things I love about Japan is it is not as expensive as people think it is. Believe it or not, one or two bedroom apartments, depending on where you live, will cost you about 50 to $60,000. I mean, it is amazing the setup that they have. You don't need a car. And so usually those places for about 50, 60,000, they're not super close to the bus station or anything like that. But you can hop on a bike, take your bike, park your bike at the, at the bus station or the train station and catch the train to pretty much anywhere in Japan that you want to go. So if you do catch the train and commute, it could become costly unless you're going to be there for a long period of time and you can get a rail pass or whatnot and get discount at a discount because you're, you're buying a lot of you're putting a lot on that card in order to travel throughout Japan, but pretty nice place to live.

08:42 Very low crime, super clean. Everything is an order and you, and it's really a, if you're retiring or even just a vacation, it's a really stress free type of life. The Japanese know how to relax and to have fun. And so that's one of the places that we are definitely going to retire part-time in another place I kind of considered was Australia. Now Australia, right now they're going through a little bit of a, a tough time or a major tough time. But I think in the future, this is, this is definitely gonna pass. And so looking into Australia, there's, there's things I really like about Australia. I liked the fact that the people are really laid back. Things are not as expensive as they may be in other places. And Australia is a very, that's a, it's a pretty big place. And so that's one of the places that I'm looking at as well.

09:33 Now, the number two reason why you may want to consider retiring in a foreign country is the quality of life. Now in the United States, we all understand the hustle. You wake up every day, you, you go to work well, if you have kids, you get them dressed, feed them, you go to work. You have so many people to please, you have so many different responsibilities. You have so many different things to keep up with. You have to save for retirement and put away. You have to save for your kids' education if they're in travel, soccer, or travel sports, I mean, it's just a grand grand hustle. And the, the, the people that do have a Supreme work ethic, it's just, it's just nonstop. And so one of the things I noticed about being in foreign countries, they do have a little bit of their hustle, but they also understand the importance of just winding down and relaxing places like the middle East.

10:35 They understand how to relax and how to wind down. And it's kind of like their pace. Okay. They don't work at our frantic pace all the time, like we do here in the United States. So if you're looking for a better quality of life than a foreign country may suit you, they have different values. Sometimes we may or may not agree with their, their values. But one thing I definitely did not see was the Supreme rat race and, and just one upping each other and just, you know, keeping up with the Joneses. I mean, that adds a lot of stress, especially if you don't want your kids to be bullied or looked down upon. And so we're doing all of these things and maybe, and I'll tell you guys a secret in a little bit, but maybe a foreign country isn't, isn't a bad idea at all.

11:24 Number three, purpose. Retiring in a foreign country because you have a purpose. For example, you may want to start a school, okay, a foundation. Maybe you've become super successful and you want to start that foundation and begin to do good charitable works in a foreign country. Maybe you want to do missions, maybe you're, you're real. You want to, you want to spread your faith in different countries and help with your faith. Maybe you want to build Wells for water. Maybe you want to bring shoes to the area or just you have something in your heart that you want to do. Maybe, maybe you want to teach. Maybe you've been in an edge, you've been an eightish educator and you know the country that you're moving to, maybe they're not all that, that great and math and the, and the city and the town and maybe you want to volunteer.

12:19 Maybe you want to teach dance. Maybe you retired a retired artist or whatnot and you want to, you want to give back, but you want to do that in a different country. So there could be many reasons and and, and many reasons that you have in your heart that you want to or why do you would want to retire in a foreign country. But here's, here's a secret. One of the things that I've seen some people do is before they retire in a foreign country, they go and they work in that country. Maybe you're in it and you can get a job working anywhere in the world for your American company. One of the things I see is that your income is relatively the same as your, your us counterparts, but your cost of living is a lot lower. So maybe if you can live on $2,000 a month in a foreign country and you're making $150,000 a year, you can put away an extreme amount of money by living in a foreign country.

13:16 Sometimes companies will pay you more to live in those foreign countries and to work and those foreign countries. And so maybe that's one thing you may want to look into if you're a single person, maybe I would encourage you to take a look at that. If you're married and you have kids, you may want to think about that a little bit, but I do know people have done that just or the experience of it. But you can put away a lot of money for retirement. So those are just some of my ideas about retiring in a foreign country. I think that it's something that you definitely should look into. I don't want to get into all the steps of what you need to do to go and retire in a foreign country, but there are several magazines that you can subscribe to. There's many different websites that you can go and look at and they'll tell you the type of passports of visas that you need though they'll get into the nitty gritty of the healthcare and so on and so forth because there's a lot of different, a lot of important things that we have to have laid out prior to making that move.

14:17 So if you have a desire to live in a foreign country and you're not sure how to go about doing it, I want you to do me a big favor. I want you to go to retire now, retire while.com I have a form at the bottom of the page, or click on my rapid retire page and go down to the bottom and you'll be able to click on the game changer form. Fill out the game changer form for me. Send that in. Also download my rapid retire brochure and then I will be in touch with you to figure out how to put yourself in position to be able to retire in a country. Again, thanks for tuning in today. Look forward to speaking to you guys sometime here in the near future. Download that form again, get in contact with me. I do want to talk to you about these things and so until the next time, one, two, three, let's get it.

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