The cost of living has steadily increased in most parts of the world, but the U.S. dollar can still get a lot of mileage in other countries. A Redditor shares their story of living abroad in the Millionaire Reddit community. The Redditor explains that a 2-bedroom apartment that’s 1,300 square feet only comes to $375/mo. The arrangement has helped the Redditor save more than $3,000 per month.
That type of price is unheard of in most parts of the U.S., but the price gap becomes even more noticeable for a 6,800-square-foot villa with a 3,800-square-foot garden. Renting that much space in the United States would come pretty close to $10,000 per month if not more than that. However, the same property only comes to a $2,200 monthly rent payment.
The Redditor goes on to mention that you can save even more money by renting the property with others. You can live well in an international setting while saving a lot of money each month.
Live Like a King and Save Like a Boss
The Redditor is currently located in Tunisia, a country in Northern Africa. It’s billed as the country where Europe, Africa, and the East meet. This motto is strengthened quite nicely by the fact that it’s very close to Italy.
Some Google Images of the city give off the idea of a vibrant area that is growing. The Redditor mentions that it has good infrastructure, affordable healthcare, and reasonable insurance. Furthermore, a treaty with the U.S. makes Americans exempt from double-taxation. You only get taxed by the IRS.
The Redditor doesn’t view this as permanent, but it is a great way to save a lot of money. Saving $3,000 every month wouldn’t be possible in the United States if you wanted the same lifestyle. Those savings add up to $36,000 each year.
Meeting New People
Tunisia has English speakers, but you will have to make new friends in a new country. Not everyone wants to do that, especially if the move is temporary. You’re essentially starting from scratch, and by the time you have a good friend group in Tunisia, it may be time to move back to North America.
Not everyone wants to uproot from their community and start fresh in an area that they may not call “home” forever. It’s important to weigh that detail before making a temporary move like this one.
The Redditor mentioned that some people move to Tunisia permanently after meeting new people and enjoying the affordable cost of living.
How Long Should You Stay?
It’s easier to make this type of move when you are single. If you are in no rush to get married, you can spend a few years in Tunisia to build up your savings. If you save $3,000 per month, that comes to $180,000 in five years. If you let that money sit in a portfolio and accumulate an annualized 8% return for 30 years, you will end up with $1.8 million after 30 years, even if you don’t contribute another penny.
If you move to the country with your spouse, you have more flexibility, especially if you haven’t had kids yet. While people make these types of moves to save money, you might end up liking Tunisia. It’s a growing city that has a lot to offer. Of course, you can live in another developing country. Tunisia is a starting point for people who are interested in this type of opportunity to save money.
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