Hello! Welcome to “Location Independent, International Jobs,” the Wednesday series where I showcase stories from people who have become location independent, work internationally, and/or practice location arbitrage, as is the case with today’s guest poster.
Today you’ll hear from Moose, who blogs about FI at MSoLife. It isn’t everyday that you meet a fellow Carolinian with ties to Chile who speaks Spanish fluently. We’ve had fun ribbing each other in Spanish over email. I couldn’t wait to hear more about his plans for the future once he reaches FI in a few years.
This interview will cover:
Where Moose plans to move to live more cheaply once his family has reached FI
Who geoarbitrage is right for, and who it isn’t right for
How a mini-retirement can fit into your FI goals
For the complete story of how Moose plans to retire to South America, read on.
Can you tell us a little bit about your background?
I was born in France and have lived in Mexico, the UK, the USA, and
Germany, so it’s hard to say where I’m from, but I currently live in Los
Angeles, California and am from Charlotte, NC. I’ve been married for a
little over five years and we have one daughter, who’s two years old. I was
an Army officer for six years before going to business school and I’ve
worked in investment banking (for a short time and it sucked) and investment research for private equity and hedge funds.
Our family is currently on a three year experiment to double our net worth and become location independent. While we’re not there yet, we’ve learned a lot on this journey.
If you’re thinking about cutting the ties and becoming location independent, here are a few things we’ve learned (some, the hard way):
Kill the Debt
First things first, get rid of your debt. There is nothing more binding than owing someone or some entity money. Pay off your credit card balances, student loans, and car loans as fast as you can. Consider selling your house to rent. When you owe money to a person or an institution, not only are you beholden to that person or entity, you’re stuck working long hours, in order to pay your fixed expenses and pay back your debt, as well.
If you’re thinking about traveling, living internationally, or taking on a job that allows you to live anywhere, I highly recommend paying off your debt first. There’s an inherent unpredictability that can come with location independence, especially if it involves living in an international location or traveling for long stretches, and being out from under the burden of debt payments is freeing.
Hello! Welcome to “Location Independent, International Jobs,” the Wednesday series where I showcase stories from people who have become location independent, work internationally, and/or continuously travel.
In today’s interview, you’ll hear Kara‘s story. Kara is a mom of 4, married 22 years to her college sweetheart, and a simple living blogger. I asked her to tell me her story after I kept seeing her amazing Instagram accounts of her European trips.
This interview will cover:
how Kara and her husband TJ are able to travel around Europe for a month at a time
how frugal living has allowed them to pursue their love of travel, even while raising four kids
how they keep their spending low, even in a HCOL area and with kids at home and in college
best tips for low-cost travel
For the complete story of how Kara and her husband take month-long trips to Europe, read on!
Can you tell us a little bit about your background?
I don’t consider myself an expert in travel, money or simple living. My blog is a space to have conversations about ideas that can add value to life. Sometimes I talk about money, and other times the topic is growing vegetables. It’s really about all the activities that are necessary to live well; food, exercise, money, goals, self-investment, travel, gardening, minimalism and lots of other things. Habits can have a big impact on our quality of life; everything really is related. Working toward financial freedom and living frugally doesn’t have to mean operating from a place of scarcity. I’ve been so inspired by others’ stories and it brings me joy to pass it along to someone else. I hope in sharing my thoughts and experiences, I can encourage others to find their version of happy too.
I grew up in the Midwest, married my high school sweetheart at nineteen, and had four children. We’ve been married for twenty-two years.
Our oldest daughter is twenty-one and works as a gas turbine engineer in the Navy. We have three boys, aged 19, 17, and 16. Our oldest son is studying software in college and shares an apartment with roommates. Only our two youngest boys live at home now and will both be graduated from high school in two years. Since we started out so young, it seems like we’re on the verge of life 2.0 and it’s exciting! We’ve got big ambitions!
I studied respiratory therapy and worked in that capacity in the hospital setting. When we moved to Colorado, I was ready for a change and went back to school to study science, a field I’ve always loved. I have four more classes left to complete my degree in molecular biology. In order to earn some extra money and keep developing my skills, I’ve done some work part-time as a teaching assistant for the writing department at the university I attend.
My husband TJ manages a product development group for an AV company based in Orange County, California. He works out of their smaller Colorado office and travels to the California office often. He loves the creativity and flexibility of his profession.
We’ve always been frugal and have saved money as we could over the years. A little over two years ago, I began reading more about finance and learned how we could be leveraging our money more effectively. Paying off consumer debt, downsizing our lifestyle, fully utilizing saving vehicles such as 401k, IRA, HSA and after-tax investment accounts has significantly increased our savings rate and brought us peace of mind.
In order to accomplish this, we live modestly. We own a 2-bedroom townhome and try to minimize our possessions more each year; following a minimalist lifestyle has freed up so much time, space and money. We have one car, a Toyota Corolla; we drive only when necessary. Instead, we bike whenever possible, even to the grocery store. We plan our meals, shop sales, eat leftovers, pack lunches, rarely eat out, and use our chest-freezer to minimize food waste. We use a clothesline to dry most of our laundry. We have Netflix instead of cable TV. We have a wide range of interests and entertain ourselves at home with cooking, hiking, listening to music, reading, and gardening. Rather than a miserly or spartan life, it’s full of life! And sprinkled in between is travel to interesting places. The goal is to invest in and improve ourselves along the way.
“Travel makes one modest. You see what a tiny place you occupy in the world.” – Gustave Flaubert
I was recently chatting with a friend who’s considering spending a few months in another country with her family. It’s a big decision and she’s not sure if it’s the right one.
Couldn’t their travel bug be cured by a road trip within the country? There are a lot of unknowns and what-ifs about up and moving to a totally different country and culture, especially if you don’t know the language!
A few years ago, when Mr. ThreeYear and I were planning an anniversary trip to Southeast Asia, several of my parents’ friends, who have all spent their entire lives in the same region of the US, asked why in the world we’d choose… Asia. My mom asked me over the phone one day, “What should I tell them? Why do y’all want to go to Southeast Asia?”
Sometimes we follow paths in our lives for no particular reason–they’re the expected thing to do, or we’ve told ourselves the story of how our lives will look, and so we go about making our lives look like the story.
If you’re starting to ask yourself why you’ve made the decisions you’ve made in life, that might be the first step toward realizing you may want to change some things. Our family definitely got to that point after mounting frustration with our inability to spend enough time with our respective families.
We knew that in order to reach our dreams of location independence we would have to make some big sacrifices, ask some hard questions, and explore scary and unfamiliar options. We’d probably have to live in the land of limbo for awhile. Continue reading “Figuring Out the Why”
It’s no secret that the ThreeYear family loves to travel. But we have two kids who almost always travel with us, and four travelers are a lot more expensive than two! So over the years, we’ve learned how to keep our travel expenses down.
Here are 5 ways that we budget travel with our kids.
We stay with friends or family.
One major way we travel is to plan where we go around where our friends and family live. We have friends all over the world who have invited us to stay with them. This is a great way to save on the cost of hotels. Our friends generously invite us into their homes, and share their food, lodging, and most importantly, expertise with us.
We make sure to buy groceries, buy them a nice meal, and/or pick up a nice gift to thank them for their generosity.
On the flip side, we open our home to any and all family and friends who want to come visit. We love to host because it’s so much fun to share our region with our friends. If friends come in the winter, we take them to our local slopes and help them get the best package deals possible for skiing. We show them our favorite places to eat and update them on the history and significant sites.
When we travel to our friends’ or families’ homes, they do the same for us. We have built-in travel guides who tell us what attractions to skip and what are must-sees.
One thing we’ve learned over the years is that when we’re visiting, it’s important to take a day or two to explore on our own, to give our hosts a break. We also offer to make dinners or take them out, to give them a break from hosting. The cost of a meal is a fraction of what we’d pay in hotel or AirBnB costs. And the experience of staying with friends, often in the heart of a cool city or country, is priceless.
We know how much we love to host others, so we take people up on their offers when we can. It truly improves our travel experience at least 100% to stay with people we know and love.
You may be thinking, “but I don’t know anyone who lives somewhere exotic!” Do you know someone who lives somewhere you’ve never been? Even if it’s one state over, staying with a friend or family member can give your family a novel travel experience, and your hosts can show you the coolest parts of their city or town.
We visit local supermarkets and cook for ourselves.
One of the most expensive parts of a vacation can be eating out, unless you’re somewhere like Southeast Asia. There, meals can be had for about $1 a person, but in the rest of the world, eating all of your meals at restaurants can add up fast.
Our family chooses to shop at supermarkets and buy ingredients to cook many of our meals at home. When we visited Chile this December, we visited the feria, or farmer’s market, and stocked up on fresh fruits and vegetables. It was summer while we were there, and it was a treat to be able to eat ripe fruits and vegetables that weren’t available back home, where it was winter.
We ate our breakfasts at home, and often made simple dinners or at leftovers at home as well. Since lunches are generally the best eat-out deal in Chile, we’d pick up take-out and eat fried fish, potatoes, rice, and salad for lunch and dinner.
One of the best parts of shopping at local supermarkets is eating like locals eat. When Mr. ThreeYear and I were in Bangkok, we shopped at the 7-Eleven across the street from our AirBnB and found strange but delicious local foods, like Ramen with super-spicy flavoring, instant coffees, and toast-able sandwiches that we ate for breakfast. You can also pick up beer and wine this way at much cheaper prices than at restaurants.
We pepper these eat-at-home experiences with well-chosen eating out experiences. That way, our dining out experiences feel more special and we don’t suffer from dining-out fatigue (have you ever been there? When all you want is a nice fresh salad that you make yourself after eating big, heavy, expensive meals for days on end?).
Many of the best restaurant experiences, especially for families, can be inexpensive, but just as special as gourmet dining. And if you only eat out on occasion, you’ll appreciate wherever you go that much more.
We sign up for airline deal sites.
We are members of Scott’s Cheap Flights, and we get notifications with cheap airline deals every day. We keep our plans flexible, so that if we see a great deal, we can jump on it.
It’s also very helpful if you have flexible dates for travel. We are more flexible in the summertime when neither I nor the boys are working, but if you’re able to jump on flight deals during the school year, you can get some incredible flight deals. I recently saw flights to the Caribbean in the $200s (US) from Boston, which would have been a spectacular winter getaway.
Oftentimes, if you can find cheap flights to an incredible destination (especially Southeast Asia), the rest of the stay can be dirt cheap. We stayed at an AirBnB in Bangkok for just $27 per night while we were there, and meals cost around $1.75US per person! While flights to Asia are long (especially from the East Coast of the US), if your kids are slightly older, they can binge on movies for 15 hours. I’ve seen flights as low as $450 from Boston to Bangkok (with stopovers). While that would be $1800 in tickets for four people, your lodging and food expenses would be just a fraction of that cost.
We sightsee for less.
Many times, when we visit an iconic city, like Santiago, we feel compelled to visit all the famous, but pricey, tourist destinations. While it can be fun to visit the top of the tallest building in South America, it’s also very expensive–it was $81.25 for the four of us to visit the top of the Costanera Center when we were there in December.
However, it’s much cheaper (and often less crowded and more fun) to spend time exploring the free attractions in a city. When you’re in Paris, you can enjoy the beautiful park around the Eiffel Tower without buying the pricey tickets to head to the top.
In Santiago, there are so many cool neighborhoods that you can explore–Bellavista, Lastarria, and Parque Forrestal, to name a few. Kids love to be able to run around and play, so finding a shady park and throwing down a blanket is a way to almost guarantee they’ll have a great time (and if you throw in fountains, it’s definite!).
You can also visit museums and other attractions on half-price days. While this takes a bit more planning, especially if you have a short trip, it’s a great way to keep costs down if you can make it work. Mondays, Tuesdays, and Wednesdays are days more likely to be half-price for museum entry. Just remember to pack a lunch or eat somewhere else if you can, because museum food tends to be overpriced and bad quality!
One of the biggest shifts we had to make with sightseeing was mental. We had to tell ourselves, “We don’t have to see everything. If we ‘miss’ an iconic tourist destination, it doesn’t mean we haven’t had a successful trip.” The best trips involve connecting with a place, meeting local people, and enjoying it as they enjoy it, NOT standing in yet another line to experience some “must-see” overpriced tourist trap.
That leads to our number one piece of advice when you’re budget traveling with kids:
It’s novelty, stimulation, and getting out of daily and sometimes deadening routines. It’s needing some aimlessness and idleness in contrast to my norm of purposefulness. It’s learning new languages, cultures, facts. Meeting new people. A slower pace with less stress. Swimming in a different sea of assumptions, getting jolted out of narrow-mindedness. Tasting new food.
Travel is about seeing something new, experiencing new sights, sounds, flavors. But that doesn’t mean that every moment has to be filled with experiences that cost money.
Our favorite experience from Santiago this December? The feria. The feria is a farmer’s market where locals come to sell the freshest fruits, veggies, seafood, and toys. It’s a place to see and be seen. But it isn’t expensive. In fact, it’s the cheapest place to buy food that exists in the city. And it’s one of the most experience-rich walks you’ll ever undertake over three blocks.
Spending the afternoon in a park, people watching, letting your kids try new flavors of popsicles or ice cream, enjoying each sip of a delicious cappuccino, smelling the aromas wafting around you–all of these inexpensive or free experiences make travel so wonderful.
There you have it–our top five budget travel tips for travel with kids.
Today I’m excited to guest post on Keep Thrifty. Keep Thrifty is a personal finance and travel blog run by Chris and Jaime, who live in Madison, Wisconsin. They’re run some amazing lifestyle experiments in the last few years, including living in half their house, moving to an apartment, and taking a one-year mini-retirement. I love how brave and willing to think outside of the box they are for their family.
In the post, I share how I caught the travel bug, met and married Mr. ThreeYear, and then settled into… life as we know it! I share the reasons we’ve embarked on our three year experiment and what we hope to get out of it as we work towards location independence, or location freedom, as Keep Thrifty calls it! It sure is freedom!! Not being tied down to one job or one place is such a freeing thought. Gives me goosebumps just thinking about it! Continue reading “How We Are Working Towards Location Freedom: Guest Post on Keep Thrifty”
Hello! Welcome to “Location Independent, International Jobs,” the Wednesday series where I showcase stories from people who have become location independent, work internationally, and/or continuously travel. I’ve interviewed all kinds of people who all have slightly different takes on location independence or living internationally. Posts include Steve from Think, Save, Retire, Pete of Do You Even Blog?, and Mrs. Adventure Rich.
Guest posters will be sharing how they became (or will become!!) location independent or how they got jobs abroad, but most importantly, they’ll share how their lifestyle has positively or negatively affected their finances and how they got to the life they’re living now.
Today, I’m thrilled to introduce Jim from Route to Retire. I reached out to Jim when I heard him share his plans to retire to Panama. Jim discovered the idea of FIRE (financial independence/early retirement) a handful of years ago. On regular salaries, he and his wife (Mrs. R2R) worked hard to reach a $1 million net worth in 2017. They’re now slated to retire at the end of 2019 (Jim will be 44 years old). They plan to move to Panama (along with their daughter, of course) in 2020 as part of their retirement strategy.
Can you tell us a little bit about your background? Where you’re from, how long married, degrees, kids, ages, etc.
I’m 42, my wife is 40, and we’re both from Ohio. I graduated with a degree in Computer Information Systems and my wife with a degree in Child and Family Development.
We met right after I graduated from college – at a bar of all places! It’s a little more innocent than it sounds, though. We were both there with mutual friends that introduced us. We hit it off and have been together ever since and we’ve been married now for over 11 years.
Our family has been planning to become location independent and move for a while, now. Our dream is to double our net worth by the time I’m 40, and find jobs that will allow us to travel more, split our time between two continents, or live in a foreign country for a few years. Because… we only have one life, right? And the kids will be little for like ten more seconds and then they’ll be grown… but making the decision to sell our house? It’s not easy.
One of the reasons we travel so much is to remind ourselves that there is another way to live than the way we currently do. We are a family of habit, and it’s easy to become so immersed in the routine of our daily lives that we never question our decisions or habits.
But one question that Mr. ThreeYear and I have had nagging at the back of our minds for a while now is… should we sell our house and find a smaller place to rent?As I wrote about in The Best Way to Avoid Lifestyle Creep, keeping your housing costs low is key to financial independence. And we’ve had the unsettling suspicion that our house is a little too big for us for awhile.
After we got back from Chile last week, that suspicion was confirmed. We spent most of our time in Santiago staying in a less-than-600-square-foot (52 sq. meter) apartment. It was small, and with three bedrooms and two bathrooms, was extremely space efficient. Yes, it was a little tight sometimes, and cooking was a bit difficult. But there were definite benefits, as well. One benefit was the shared space. We were able to go downstairs and use the common areas for the Junior ThreeYears to ride their scooter, or swim in the pool. There were tons of other kids playing, too, and while there wasn’t a lot of interaction, because of the language barrier, that would definitely change if the kids had spoken the same language.
While we were in the apartment itself, we didn’t get in each other’s way, surprisingly. The boys each had their own bedrooms, and they’d take their few toys we had packed and go play or read in their rooms. We did homework each morning on the small round breakfast table, then would move the school books to another part of the apartment when it was time for lunch. I even lost Junior ThreeYear in that tiny space at one point! (He was on the balcony, reading, and I didn’t see him because of the curtains).
The thing that was so nice about the small space was that we were together, we were cozy, and we were able to enjoy each other’s presence. Our current house is so big that we can’t see or hear each other when we’re in our rooms, and it can feel lonely. Most of our time is spent in the common area, our dining and living rooms, which are basically one big space (and are larger than the entire apartment in Chile, by the way).
Little ThreeYear has grabbed my hand at several points since we’ve been back and asked me to come with him to some remote part of the house, “because I’m scared to go to the basement alone, Mama.” Our basement, by the way, is not a dark, bare-boned forgotten space in the bottom of the house. It is finished, carpeted, and filled with Little ThreeYear’s toys, as well as a comfy couch and chairs. But after all that togetherness in Chile, Little ThreeYear feels lonely in the vast swath of basement without another person.
But does it make sense to sell our beautiful home, which we bought in a short sale at a very good price, with its spacious backyard, forest hiding-spots, and ample space for visitors, to move to a condo with no garage (a huge negative during New Hampshire winters), much less space, and community fees? Continue reading “To Sell or Not to Sell?”
Where are we staying, exactly? Santiago has tons of AirBnBs, hotels, and hostels. But we didn’t want to spend money on those options when Mr. ThreeYear’s whole family lives here. So we’re staying in… our apartment!
Thirteen years ago, Mr. ThreeYear and I bought an apartment for his mom to live in, right before we left Chile to live in the US. All of the details of our purchase and payments are detailed in this post.
The apartment is located in one of Santiago’s 37 comunas. We’ve argued about the best way to translate this word, but I think they’re best described as neighborhoods, although they are official units of governance within the city. Mr. ThreeYear says the correct translation is municipalities.
The “best” comunas are in the Northeastern sector of the city–La Reina, Las Condes, Vitacura, Lo Barnachea, and La Dehesa, a community so exclusive it isn’t even on the map.
Our apartment is located in San Miguel, a comuna that’s right in the middle of the city (which I never realized!), just under the big red Santiago comuna. San Miguel is famous for, among other things, being home to Los Prisioneros, probably Chile’s most famous rock band from the ’80s. It’s where Mr. ThreeYear grew up, and where a lot of his family still lives (it seems like every other day we run into a distant cousin when we’re out walking). Continue reading “Notes from Chile: Lodging and Transportation”