I'm 44 and want to retire by the time I'm 50. I can't do that in the US, so I moved my family to Thailand.
My Gen Z children's view and attitude toward work were a wake-up call. They taught me a whole new way to live by not making work my entire identity. Of course, that was easier said than done.
So, I went to therapy, and my therapist challenged me to think about my long-term goals, how I want to spend each day, and my purpose.
I realized I spent too many years of my life making work a significant focus. I let what happened with my job affect my mental health because work was my identity.
I missed special moments with my children growing up because of work, which I could have put off since I'm a business owner.
I came to understand that my career is part of my purpose, but the main goal of my business is to create financial freedom. I want my business to generate enough revenue to make work optional.
With this healthier view of work, I set the goal of retiring early by 50. I'm 44 now, and that'd give me six years to push hard, save, and invest enough money to retire early. I realized that wasn't feasible in the US.
I'd need multi-millions to retire early in the US
I was born and raised in Wisconsin and have lived in Florida for the past six years. I've raised six children in the US, helped support family members, and, like everyone else, witnessed the rise in the cost of living.
Life in the US is expensive, and retiring early means needing multi-millions, at least. Early retirement typically involves a 4% stock portfolio withdrawal each year, so the invested money would need to be large to pay for everyday US living expenses.
My wife and I talked about this. She's older than I am, at 52, and has a goal of retiring early at 55. We realized it's not realistic (for us) to retire early in the US, so we started looking at where in the world we could move to accomplish our goal.
In our relationship, we've traveled extensively and have even lived in places with lower living costs, such as Medellín, Colombia.
We decided to move to Thailand
When we thought about the cost of living, quality of life, access to great healthcare, delicious food, safety, and access to amenities and goods, we settled on Thailand.
We got to work on the planning and logistics of leaving the US. The most shocking part has been discovering that it's costing us as much to leave the US as it costs us to live there.
Now that we're leaving, selling our vehicles is an issue because their value isn't the same. We have to take out personal loans to pay for the difference in what we sell the cars for. There's also getting rid of the physical items and other costs associated with the move.
Leaving the US was so complicated that it reaffirmed our decision to leave for good. The cost of being a human being shouldn't be this high.
We're slowly setting up our lives in Thailand
My wife, two 22-year-old daughters, and I were approved for a five-year Destination Thailand Visa. We're also moving with our dog and two cats.
My wife and I came to Thailand ahead of our daughters and animals. We also signed a two-year lease on a beautiful apartment in the center of Bangkok.
The apartment came fully furnished, but we purchased a few items, like an 86-inch TV, to make it feel like home. We also set up our cellphone plans and everyday items, and hired a cleaner.
Thailand is giving my family a better quality of life, a lower cost of living, and the opportunity to explore the rest of Asia.
Thailand's low cost of living will help us retire early
Our monthly expenses in Thailand are less than $3,000. That price covers our monthly rent, electricity, phone plans, cleaner, WiFi, water, groceries, and entertainment.
Compared to what I paid living in the US, these savings mean I can save and invest more of my earnings. I can now allocate the bulk of my income to my retirement fund.
Living in a country where dollars stretch far is how I'll achieve my goal of retiring by 50, and I can do so without sacrificing our quality of life. My wife loves Thailand so far, and I'm sure our daughters will also when they get here next month.
I had to ask myself how I wanted to spend my limited days on this earth, and it wasn't working in the US. I want to write, create art, travel more, romance my wife, and do many other things besides work.
Moving to Thailand checks all the boxes to live a more fulfilled life and accomplish my early retirement goal.
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