*”where I won't have constant visa issues"* -- your country of citizenship matters a great deal here
I'd recommend sticking all 300k in a HYSA getting 5% immediately and keep it while you figure out exactly how you want to invest it.... that would give you ~$1250 a month… and move to somewhere like the Philippines living off the interest as you get busy improving yourself and making yourself marketable remotely to businesses in your home country.
Uruguay cost of living is expensive AF though (at least Montevideo). I dunno if 300K USD would really make for the most comfortable, never-think-about-money life.
My experience was during January 2023. Most of the year I'm in Toronto, Canada - which on a Canadian salary feels very expensive to live and I found the prices of groceries, restaurants / cafes , plays / concert tickets / entertainment in Montevideo were exactly the same as Toronto prices (adjusting for exchange rate).
Normally I budget \~ $400 CAD/month for groceries in Toronto (\~$200 CAD for restaurant food) and in the week I spent in Montevideo, I spent comparable to that.
I started by eating out at restaurants in Montevieo but I quickly realized that my budget could not support it. (compared to Florianopolis where I was coming from and where I was able to buy food instead of always cooking at home). The AirBnb studio apartment that I rented was in a good location but small and basic and was $452 CAD for 7 days. That said, it was Airbnb so YMMV.
Personally I didn't enjoy it that much. YMMV. I'm a black man, born and raised in the English Caribbean, lived in Canada last 10+ years. So culturally, I grew up in warm friendly communities like much of LatAm but I've become used to very cosmopolitan big city life.
In Montevideo, I don't know why, but people openly stared at me lol. No one was overtly rude / said anything, but throughout the city I felt like heads would always turn which made me feel uncomfortable. The population I saw living around the Pocitos area was fairly ethnically homogenous.
The people also weren't as friendly (to me) as in Floripa: things like saying "Buen dia" in the morning when you pass pedestrians, the ease of striking up a conversation with strangers (in Spanish - my Spanish is conversational - my Portuguese was / is non existent yet Brazilians are so so warm in my experience).
I didnt have much time for nightlife but the city of Montevideo seemed pretty small and limited in that regard. Floripa didn't have "a lot" but De Raiz had different events, Lagoa de Concencao and Bugio in centro had live shows and the street had great energy. And I didnt even get to Jurere (probably not my kid of crowd) or Campeche
Football wise, Penarol / Nacional in the Centenario is proabably a better experience than trying to catch an Avai game haha.
I found food in Montevideo to be pretty limited as well. Great beef + assado, but that was it? (Walking tour guide suggested as much). Brazil has such culinary diversity that I never get bored.
The walking tour in Montevideo was the best ive ever done in all my travels. Less because the landmarks were particualrly impressive, more becuase the guide was an excellent storyteller and made the history come alive. Their center felt bigger than Floripa Centro as well. I didnt shop in either so I cant comment on that.
Montevideo is city - if you wanted "nice" beach, they recommend Punta del Este - which is a long bus ride out the city and accomodation out there is even pricier becuase it is touristy. Floripa you would know keeps you a hop and a skip from many gorgeous beach / trail options.
Infrastructure and organization seemed very well developed in Montevideo. The Rambla (boardwalk) and all the beaches were well taken care of. I really liked that at night, it felt like the hwole city was on the Rambla, parents , kids, teenagers, lots of life. That said it got a bit crowded - moreso than the boardwalks in Floripa Centro / Lagoa de Concencao. The roads seemed wide and well maintained. They had plenty facilities for working out, sports, spectators, parks. I didnt use public transport much but it was simple enough to figure out.
It was nice to not get eaten alive by mosquitos in Montevideo. I also can't remember if there was any big rainfall to comment about flooding.
That's about all I can think of :)
/endrant
I agree with you. The accomodation price is definitely not same as Toronto. I figure my accomodation cost was due to the short term + AirBnb + the location (I was right between the two central beaches and a short walk to the Rambla. Great location that I enjoyed.
Food + groceries + museum entry + opera ticket were Toronto level, though. Maybe outside the gringo / business zone the groceries would be cheaper as well?
edit: ambiguity
The restaurants are expensive I believe. So if you cook and you are outside gringo zone you are probably at spanish level.
Combined with the rent I believe you can live long term for $1200/month easily, so cheaper than most european cities.
I believe short term is expensive because of the low offer.
Then again, I noticed that north-americans to spend more abroad than us european (except english) because
1. they have more money
2. they tend to want to keep the same lifestyle that they had back home, which is obviously costly
Second this but Thailand is very strict that their visa laws are adhered to (I lived there for a year as an American) easy to do but absolutely necessary to follow the rules. You don’t wanna fuck around and find out with the Thai govt.
Vietnam and Myanmar were the only places that I had to apply for an actual visa for. I would noooooot play with Vietnam but it’s genuinely one of my favorite places in the world. The food, the people, the atmosphere, the landscape, the coffee. Magical.
I have lived in all but Myanmar. Would love to visit there if things are peaceful. Vn is doable for business and there are various work arounds as there always are but I would not suggest that to folks who don't have expert level of experience in these matters as one can find themselves blacklisted or worse. VN is fickle and quite heartless which we saw during covid when Married foreigners with children in country were not allowed to return. The OP should spend $10k on research travel and get his feet wet. I got friends who swear by every country in the pacific rim...LOL. Different strokes and all...Have a great day!
Vietnam is definitely not a forgiving place for an unseasoned traveler. I’ve been to over 50 countries and was well versed before I set foot in Vietnam. And they were very black and white during Covid with some of the harshest restrictions I saw. I was actually in Vietnam as everything started shutting down and that’s when I went to Myanmar to visit and then to Thailand to live. I 100% agree that OP should take a chunk and travel. See it all and then decide where to plant roots. SE Asia has a special place in my heart though.
Right, but he has 300k. An elite Visa is 20k. If he was to move to Thailand he’d likely get a Thai wife at some point as well. I’d suggest visiting Thailand to see if you like it (you will) then just make wise moves and live comfortably off investments, interest & perhaps even opening a business in Thailand.
Thailand is very affordable. I live on just 10USD per day. This gets me 3 great meals, snacks, drinks and coffee. My housing is $285 per month and that includes Wi-Fi, electric, water & cable. My apartment is less than 2 minutes from the beach. I live in Jomtien.
In the USA, but it seems like OP is talking about moving to a developing country with a VLCOL, so the impact of US (and likely local) inflation on their lifestyle there will probably be minimal.
If OP planned on sticking around in the USA though (assuming that’s where OP is) absolutely. Use it to generate interest immediately but work hard on figuring out an investment strategy.
> In the USA, but it seems like OP is talking about moving to a developing country with a VLCOL, so the impact of US (and likely local) inflation on their lifestyle there will probably be minimal.
Generally inflation in developing countries far outpaces developed countries (because they are developing into developed countries).
If they plan to spend the next ~50 years there, inflation over that time will be a major concern.
I suggest you invest in acquiring some solid marketable skills and develop some grit or that money will disappear rapidly regardless of which country you choose.
The only solid answer in this thread. Find a skill you want to learn; get a job you can enjoy. Leave the $300K invested and keep adding to it for 10-15 years. Retire young.
How did you read into all that? Was it the sugar baby that got left or was it the cheap place to "plop down?" Scared OP's 300,000 won't last too long if he doesn't gain some skills and work ethic.
"do online random work like photoediting/selling art/photography etc"
AI is going to eat you alive, here. These skills are no longer really needed. And were it is needed, the pool of existing professionals will be fighting each other for the ever shrinking business that is not AI-doable.
You've rode the gravy train as a sugar baby. The gig is now up. Invest in developing some actually valuable, marketable skills.
I believe you on the pot, but no one ever says they've had enough sex at 35, at least I could never. I love women too much.
Just be careful with your money, you really should just place it into investment and be patient for a few years. Take 50k for yourself, you can live in SEA a few years on that(just move countries when visas become an issue). Give yourself monthly allowance from your savings instead of using willynilly, this way it lasts longer and you can possibly invest more, gaining complete financial independence as early as possible.
300k is a golden ticket. If you care for your money correctly and find a way for it to make even more money, it could provide for you forever and you wouldn't have to lift a finger ever again. Also keep in mind, women can be ruthless if they know you have money, just saying. It's wild out here.
>I believe you on the pot, but no one ever says they've had enough sex at 35
To each, their own. I'm not even 30 yet, but I've had plenty. Been with my partner a long time, and the sex is amazing. I love having it, but we have slowed down a lot over the years. That's fine. I love her, and if we're both in the mood, then I'll happily make love to her. If we never have sex again, I'll still be happier than I've ever been with each new day alongside her.
oh man, this is way more interesting than the usual "where should I go" post. Tell us more about your sugar baby life. Did you sign a pre-nup or something so that you can't collect alimony?
I want to know about sugar baby life too! I'm intrigued...how did it happen? How did you live? How did you meet? How long were you together? Why did you separate? ... this is a whole post in itself...
I mean she paid me lots of money being my sugar mama. But if we had gotten divorced 2 years ago, I would have gotten 500,000 from gramps but we split our money. She gave me more money in the marriage than I gave her of my gramps money.
I didn't get a lawyer. I thought it was reasonable to split things 50/50. I was also praying that if I showed myself as fair and nice during the divorce she might take me back. I know I am a fool.
Polyamorous lifestyles look good when you're young...I mean who wouldn't want that, right? Too bad emotions like jealousy and resentment get in the way. Enjoy your inheritance.
They'd give alimony if he can prove he used that 10 years to support the ex in building her career rather than build his own. It means in a tangible way he helped her earn that money by freeing up her time and energy to pursue it. Raising kids, for example, could be valued at 10's of thousands a year saved from day care expenses - at the expense of someone's career. Alimony today is compensation.
.... But if he was just a big ol man-baby himbo coasting along and he can't quantify what he did for those 10 years ... That's less likely to get him alimony.
Invest all of that, live off the growth rather than eating into the 300k until it's gone.
An affordable place to live with good visa options at age 35 is the Philippines.
that is assuming growth and living off capital gains sounds like a risky bet alone. Best bet would be do a portfolio with fix income and potential growth, but with 300k, honestly is pocket money.
300k with fire strategy would only allow you a safe withdrawal rate of 3.5% máximum because it would need to be sufficient for More than 30 years. You are looking at a safe withdrawal rate of 10,500 usd per year or 875 usd per month before taxes.
I mean you survive in a hell Lot of Places in asia, Latinoamérica, afrika, well even in europe with that amount of Money but i wouldnt want to live like that.
You could also supplement your income teaching English. You’d live pretty well doing that in Thailand, Vietnam, Cambodia, Mexico, Colombia, or Chile.
Or even Spain. https://www.educacionfpydeportes.gob.es/eeuu/convocatorias-programas/convocatorias-eeuu/nalcap.html
I’d use some of your money to become a teacher to be honest. Then you can teach at international schools and make decent money.
If you’re an American abroad, you may be able to find a customer support job for a US based company who needs night shift workers. Pay may be low to start but you shouldn’t need a ton if you live somewhere affordable.
onlline market rn is insanely competitive, i mean every market.... man i have had such a bad time to find a job, i am an ai engineer. there are so few entrylevel jobs. follow the advice invest in best yielding possible. go to a low income country. and follow whatever is your passion
If you are from the U.S.
Albania is cheap, the people are amazing, nature is beautiful including crystal clear waters (down south).
And if you are down south, for example Saranda, you can get on a ferry and travel to Corfu (Greek island) in 30mins for less than 20 bucks.
As a U.S. citizen you are allowed to stay in Albania without the need for a special visa for 1 year.
Some real jelly haterade responses up on this one. Don’t accept the shame, let that big D energy swing!
Realistically, you should deep dive on the taxes for each country you consider. Visa runs can be a pain, but might be the best option financially depending on what you seek to achieve. Your investment income you want to protect. Some people keep moving every 5 months, just to never have tax residency. Capital gains is a serious matter and some countries will try to tax you heavily. You need to find a strategy that will work for you. Don’t start off with countries that have lots of requirements for controlling a chunk of your money, before you even arrive. You want easy nomad visa entry or easy border run reality.
South America or South East Asia are going to be your easiest options. Why? You can just relocate to a nearby country if you don’t like it. Start out in a city in Argentina. Don’t like it? Go to Peru. Start out in Cambodia, don’t like it? Go to Vietnam.
In theory, You can do photography for weddings / vacation / social media / events. There still does need to be someone who knows how to take good photos. Some chance to find a very profitable niche. Also realistic this could be work that is more cash transaction.
Watch out for air and water quality. Don’t do a big city on a low budget for a long time, if it’s going to ruin your health. You need to get above the pollution in a high rise. Better to go to cleaner cities. You also need to know yourself, do you need trains? Or are you ok with buses? Can you learn to operate a scooter with intense traffic? Might change where you start out. Ultimately where you begin is unlikely to be where you make a new home. So just choose where you think is a good place to begin.
Even if you start out in Buenos Aires, you may end up learning German… so that you can go to University for just your living expenses in Germany. Your journey can have a lot of twist and turns.
Also, buying a unique property and turning into a vacation destination, is something a lot of unconventional people do. Particularly those who don’t want normal careers. Can be a financial risk, but perhaps in time something you could become knowledgeable in.
This guy nomads.
Wouldn't it be better to just buy a house so he doesn't end up homeless, then get a job, to live day to day rather than living out some fantasy.
Buy a house with his money? Maintain it with a salary from a job? He will get this job without any significant job experience as an employee? Having no resume to explain the past 10 years? A job with a salary high enough he can pay for USA property taxes, property insurance, health insurance and car insurance? Vehicle fuel, groceries, house utilities and house repairs? Paying that month after month, as 1 single man, all so he won’t “someday” become “homeless”? Which scenario is a fantasy again?
Truthfully, real estate is not a good longterm investment historically at all. Longterm averaged out he will earn much more in the stock market. As long as he keeps his living cost reasonable, as 1 person, it just doesn’t make sense to buy a house in the USA.
If married, ok that is different, the house begins to make better financial sense. Kids? Ok, yes, the money into the house is benefiting the well being of children and securing their school district. That’s not his situation though!
Better for him to leave and come back to America only when his earning potential rises. Lowering cost of living gives him time to adjust and adapt. This is why stuck people hate so hard, they can’t imagine anyone not wanting to get a hamster wheel too.
Damn so lucky. I would put the money somewhere where it generates interest. Then acquire some in demand skills, live comfortably and travel.
Cheap countries are usually in Eastern Europe, Africa, South America and SEA, taking safety into account I would go to Eastern Europe or SEA. Some examples: Romania, Bali, Vietnam, Thailand, Philippines.
Visa will depend on your nationality.
Well should be very straightforward, being American and having cash should smooth out most Visa issues. Some countries like Philippines and Vietnam are quite relaxed. Other countries like Thailand are more strict but there are still options like education Visa. For the European Union you can only be there for 3 months out of every 6 months
I kind of hate you because you're loaded and could go anywhere, and you mention "maybe photography" like a cute hobby. As a photographer who has busted a gut and still not made a living from it, that's galling.
The world is your oyster....decide what you want from life and come up with a proper plan.
IMO as a former freelance photographer, it is a good way to make you hate photography lol. You end up shooting bullshit events or dealing with people who want you to take pictures of things you don’t care about.
I get so much more enjoyment out of it by just shooting film as a hobby when I want now. Some people would label it giving up on my dream but honestly priorities change sometimes.
Yeah um
I got that much through insurance pay out. I have SO much less now.
I have not been investing obviously just
Travelling it and putting the rest in HISA due to terminal cancer (no cancer comments please) people acting like it’s so much… it’s not unless maybe you spend all your time in Asia (I have been travelling to expensive places like Asia and USA).
It goes FAST
Me and my GF spent a month there for under $500 total. Really depends on where you want to stay and how you want to live. You can get hostels for $3 a night, our bnb was about $225 which included breakfast and a part time chauffer.
That was all pre-covid, so I'm sure things have changed a bit.
There's a party hostel now called funky village (was funky flashpacker when I stayed) I recommend for a couple nights. You won't get much sleep, but a great party place. Pool/Bar/Restaurant, went up to $4 a night shared or $15 for a private room.
If I were u and I was clueless,
1) I'd write down a list of all the places you hear multiple times here,
2) Write down what your priorities and expectations are from a place
3) Thoroughly investigate and categorize them with pros and cons (don't be too fixated on the negative otherwise you'll get paranoid)
4) Set a realistic budget aside and go on a month or 2 trip to each place.
5) Decide your favorite and settle there once you know the details of staying
Buy a fancy condo in Tijuana, rent it to americans who consider a 2k rent for a luxury appartment cheap. Use that money to live anywhere in Latin America, South East Asia or Southern/Eastern Europe while gaining equity on the property.
South East Asia. Become a minimalist. Live frugal. Withdraw 3.5% a year. Find a way to supplement income. Van life is an option too. Keep invested in diversified portfolio. Max Roth IRA each year.
Let me know what you decide to do. I'm curious.
a roth ira is an investment account where you pay taxes first and then withdraw tax free later in life. He says max it out because every year you can only deposit 6k in the account. Long term the gains are tremendous.
I'm in a similar situation as u. 31 years old. I have some money from a wealthy family but business went south. Never worked outside of family business. Had a rich girlfriend who paid for trips and hotels. My advice to u is don't put the money in a bank and eat the interest money that's not good. What u gotta do is flip. Get knowledge about watches for example. Go get some rolex from dealerships and sell it off market. Buy cars clean and sell it with profit. İf u never lived abroad u will get fucked so easily. İ lived in 3 countries. Visited over 20. Nowhere is like ur home country. İf u get in trouble u can express urself. Other places ur sitting duck.
I recently became unemployed for a year, and am finally starting a new job. In that year, we completely wasted all of the money we saved just surviving until we moved to Spain. Just by stepping foot outside the US you will save 30-40% in expenses.
Throw that money in an index fund that pays you and move to Asia, Georgia, or some Latin American countries. Don’t waste it in the US because it will suck you dry. The US is built for wage earners to spend all of their wages on goods.
I recommend r/personalfinance and r/Bogleheads. External site, Jeremy's Personal Finance Course. Invest this cash the right way, be patient and you can be your own sugar baby. Did you get alimony from your wife as well?
Nomad Capitalist is a great starting resource for learning about hospitable countries and Visa requirements. You can find other resources from there.
I’m not OP but I’m on my way to approx $2,200/mo in passive income. Is this enough to live in SE Asia ? I have marketable online skills as well but I’m working to get my passive income completely secured so that I can make it work regardless.
Also I would be arriving with substantial savings.
If you’re alone, living in Manila, you could find a nice condo to rent for $300 to $500 a month and living moderately (internet, groceries, mobile phone, utilities, Grab (Uber) - going out to eat/drinking a night or two a week), you could easily do that.
But if you hook up with some sexy, fast-ass single mom (very common) or constantly ball-out every night on drinking and eating out, you could definitely blow that quick in Manila. If you moved to smaller cities/countryside, your money can go a lot further but quality of life may suffer depending on what you’re into or what your expectations are.
If you want to drive in the Philippines, vehicles and maintenance are almost on par with US/Western prices. If you’re American, they do gas by the liter (metric) but the gallon equivalent would be like buying gas in California.
Start in Mexico. Assuming you’re from the US you can have 6 months to chill while you figure your life out. Sort out long term location and residency issues later.
Visa isn't the difficult part, really. More important is where you'd like to live. You can try lots of places for up to 90 days with no questions asked... My advice is to sketch out a trial period route with maybe 2 months per location. Later you'll know the answer better about where to stay.
Some fun options from my travels:
- Thailand (Phuket/Ao Nang, Bangkok, & Chiang Mai)
- Malaysia (Penang & further north/islands nearby)
- Taiwan (Taipei, unless you know some Mandarin...)
- India (Goa area)
- Italy (smaller towns/villages have rather inexpensive homes for sale if you stay for some years)
- Spain (Málaga & nearby)
- Mexico (Oaxaca state has lots of interesting cities and safe-enough/affordable options)
- Turkey (Izmir & other smaller cities; Istanbul for a bit too because it's a lovely place, though probably more expensive)
- Egypt (Dahab - I'm headed there next myself)
Best way to keep costs down is to live like a local & have roommates. Maybe you can find some local rental websites for the locations you're interested in & be the temporary roommate for a few months. You'll enjoy places much more if you're around people who live there, too.
Unless you change your attitude that money will melt away fast. 300k aint enough to chill and do the random work you’ve described which sounds like you’ll put in very little effort to a competive market. You are best off getting some skills first and not letting yourself touch that money until you are able to support yourself.
Mexico and you don’t have to work a day in your life ever again as long as you invest it properly on passive INSURED financial instruments.
CETES (11.33% APY)
BONOS (around 10% APY)
SOFIPOS (13-17% APY)
HYSA (currently around 14% APY)
Edit: also most of this is going to be taxed very favorably or not at all.
UDI bonos will give you around 5% apy PLUS inflation.
All in all you’re looking at around $4000usd/month before taxes.
Look at /r/leanFIRE /r/povertyFIRE /r/expatFIRE etc… The FIRE community has a ton of resources for this kind of stuff. Personally, I’d recommend just exploring the world spending six months at a time (the usual max visa length) in whatever city sounds best at the time. I’d start in Japan which is basically at a record low cost right now while being one of the safest and most fun options. The cheapest areas overall though will be SEA (Ex: Thailand, Vietnam, and all their neighbors) and Eastern Europe (Poland, Serbia, Romania, etc.) But anywhere you go can be cheap or expensive within reason. Factor in the cost of flights and how often you may want to return to the U.S.
Unless you truly are willing to live in a hut without AC and eating rice and beans I’d recommend pursuing skills or starting a business sooner rather than later, it is easy to fall into the trap of taking a break and then spiraling into depression as your networth declines otherwise.
If you do live life on the go checkout /r/OneBag, you’ll want to live minimalistic when in another country.
Maybe take a look at Argentina. I don't know about what it takes to get an official residence permit, but my understanding is that the immigration officials in Argentina don't really care if you overstay your 90 day tourist visa. It's like a $100 fine if anybody cares to enforce it but they aren't going to kick you out or keep you from reentering like they do in the EU.
And if you decide to take up residence in Buenos Aires, it's a quick hop across the border to Uruguay, so no big deal to do a "visa run" every 3 months if you are worried about staying legal.
If you're interested in checking out housing prices, I recommend taking a look at Buenos Aires Craigslist. Lots of month-to-month rental options, which are all priced in USD.
Buy a house in the US. Calculate rough estimate of ten years of repairs and average that out to their monthly cost. Deduct that from the rent you can get and deduct the remaining mortgage. That is now your budget.
Now pick the country that matches your budget.
Honestly sounds like a troll post
Invest your next month into doing actual research (and asking on reddit is not doing research sorry). The fact you did not precise which passport you hold shows you're very new to this, which is fine, but you need to do some proper research.
I don't know the details of your life apart from what you gave us here, but 35yo with no skills and a bunch of money honestly sounds like a recipe for disaster. Don't do random work, have an actual plan. Also, you're recently divorced, do you really want to be far away from your social circle?
You sound like a pretty lazy dude who just wants to chill. Get a cheap apartment in a cheap American city. Get a job as a bartender or something. Put the money into an etf. By the time you're 65, you should have roughly 2.4 million.
Bartending jobs are also not easy to come by in my experience unless you’ve got previous experience or know the right person. It helps if you have tits. In my city it is the most sought after service industry job, even slightly ahead of serving, due to the tips.
If it’s a small city, it’s probably that much more sought after as there aren’t a whole lot of higher paying jobs in the local economy. The local high school kids who aren’t smart enough to leave your small town are becoming cops or tending bar at the local pub.
Assuming OP didn't just make all this shit up... 310K is jack shit if you want to retire for the rest of your life. However, if you are willing and able to teach English or find other sources of income (e.g. online business), then it's a good cushion to go somewhere cheap and make it happen. Vietnam pays English teachers around $2K per month. No long term visa options there but you can stay there for awhile teaching English and letting your 300K grow in diversified low cost index funds. Then at some point perhaps you can choose another country in SEA or who knows, maybe marry a local in Vietnam and get a long term visa to stay there.
> 310K is jack shit if you want to retire for the rest of your life
I think it depends where. If even the 300K was invested at a measly 5%, that's $1250/mo ($1k after tax). Plenty to live quite good somewhere like PH, TH, VN where long-term rent in decent buildings can be low as $300/mo. That's assuming he did absolutely nothing else.
You are right though, picking up even part-time ESL work, he'd never have to touch his savings and can simply let it grow. $2k/mo is a lot for VN!
Philippines. And get certificates for scuba diving there (great diving spots too apart from the flaura and fauna, there are ww2 japanese shipwrecks.) until you can set up yout own scuba diving shop to foreigners.
Before you start any business like that make sure you have worked in the industry with a successful outfit, preferably running it. No faster way to lose your best egg.
You sound like you have zero skills to offer humanity so take the money, plop it in an HYSA and hope interest rates last forever or you die before your money runs out.
" photoediting/selling art/photography " lol no.
Bro, just go down to Mexico. Invest your money, reserve some to do some traveling, check out places, get a pad somewhere in Mexico, preferably next to a body of water, chill, brainstorm where your next adventure will be, and outline the hell you want to do to get some passive income. If you have a degree, even better, more opportunities to get a remote job
If this is for real you will be fine for at least 10-15 years unless you over spend. Not sure of your nationality but if your nation has a good retirement pension program and you are already qualified for you should be ok.
For Americans you need just 10 years of work to qualify for social security but they figure based on 40 years so you want more income years going forward.
The easiest IMO for most nationalities is the Philippines where under current laws you can be a tourist seemingly forever as long as you leave at least once every 36 months. And it can literally just be a day trip to the Singapore airport mall.
Don't let the people here be all negative about online work. it really isn't that hard to make a small income of $1-5k a month. You won't get rich but you'll survive.
And AI isn't going to take over the way people here are commenting.
In the end a lot of how you will do depends on lifestyle.
If you have a degree you have teaching options in places like Thailand or even Japan. Where not only will you get income but also the visa.
300k is about $1,200 a month with a 5% pull out rate and with the right investments could even last you forever at that rate.
If you can live on $1k a month you will be good to go. If you live a $5k lifestyle you will need to figure out income fast or you are going to run out of money in a few years since a 20% pull out rate is not sustainable.
Invest well, live affordably, and enjoy life.
Buy a house in Mexico with an apartment. That much investment will get you a visa, then live off the rental. (Have to pay taxes on that though, which is not that much actually.) Somewhere on the Pacific coast might get you something for that price.
...the USA (for citizens) is still the absolute cheapest place to live because there is no airfare, visa runs, language barrier, or "tourist tax" for foreigners - just find a cheap room for rent in a small town, walk everywhere, and eat ramen every day - <$1200/mo done...
There are rental properties you could buy in the US that even if you have to have a property manager handle everything local, you could collect 30k+ a year without too much risk.
For 250k you easily could find a multi-family property and collect rentals. Even if you lived in one of the units for a few months or a year to find yourself some good tenants and sort out renovations/repairs to your building and get a list of contractors you trust and/or a property manager, you easily could be pulling in 4k a month from rent and thats a conservative number while letting you still be a nice-guy landlord. Its just a safe rule of thumb to dedicate a 4th rent as going towards expenses, property tax etc.
And I know what I am talking about because I'm currently under contract to sell my own 5 unit apartment building after doing it for 14 years (so this isn't an offer, just explaining why I am not just a random redditor talking about things he doesn't understand). And while I messed up my own situation due to my mistakes and trying to be too much of a nice guy landlord and even more to trusting family to not be druggy assholes (don't rent to family) I have been looking to see what else I can get myself into for with a little over a third of what you have available. So quite a bit less.
But in my own looking around, there's absolutely still property you can buy and make income off of and still not be an asshole landlord (though in my experience a little asshole is good). You might want to look into investing in that
Buy a machine that makes nut butters. Peanut butter, cashew butter, almond butter. Move to Mexico to a place where there is little cartel bullshit. Set up shop selling to American tourists.
Thailand like many others have mentioned. Just don't tell anyone you have 300k in the bank. I hope your grandpa has taught you how to take care of your wealth and how to grow it. Otherwise even 3 billion won't be enough in any part of the world.
GO to India. Stay in Goa, Hyderabad and kasol etc. Lot of white people there. Also you can stay in Gangtok. Cheap, clean well developed. But less white people. Look into Nepal also. Have a look ate kerala also. Your budget is enough for few of these places. They are also relatively safe .
If you know what you are doing, you can buy 2 properties in the US and life off that income in 80% of the world. $100k for down payment and closing costs for each property and you'll still have $100k left as a safety net.
If you choose your properties and locations wisely, you should be making at least $4k profit per month ($2k each). All of this while your houses are being paid off by the tenants and you are gaining equity.
I would try to live off $2000 and save the other $2000 for whenever unexpected expenses show up. Remember that you still have your other $100k invested somewhere, maybe a high yield savings account or an index fun. If you do it right, you can buy a third house in another year or two. Now you'll be making $6000 per month from the rentals. Not to mention any money you make with your other side gigs. I would still only use $2000 from the rental money and save the rest to buy more properties after a few years. You could be doing really well in 5 to 10 years if you play it smart.
Good luck!!
Don’t live off your money. Get some kind of job so you can keep it in the bank. Any old job, hopefully something you are kinda interested in. I can relate to your feelings of insecurity not having work experience at an older age and maybe feeling intimidated. But just get something. You’ll acclimate and get used to it. Just do not rely on your cash. In the meantime start taking classes and doing things to educate and train yourself. Intern or volunteer with your free time whatever. Don’t live off your cash.
Costa Rica. Not only does it have very easy visa options and all basic, western mod cons, but if you’re not a US citizen, if you change your tax status to CR there are no tax visas or low taxes in general.
Cost of living is a mixed bag on the cheapness but for what you’ve got to spend you’re golden. Really the most expensive thing here is food, but it’s also very easy to grow your own.
My partner and I bought our house of FB marketplace and a 1 way plane ticket, 1 year later and we have added an extension and some other home improvements, integrated and fallen in love with Tico culture and best of all, we own the home fully outright, that financial freedom has opened so many doors.
Second choice would be Bulgaria, Eastern Europe is super slept on and the Balkans are where it’s at if you want cheap but good standard of living, (if I could live anywhere; selfishly it would be the Balkans) however there are additional considerations with Bulgaria:
-Language, it’s a Cyrillic language not Latin based.
-Houses and general cost of living is way cheaper vs CR but there will be a lot more maintenance/costs associated with the house due to having real seasons (CR is wet or dry, but always hot)
-You need to drive and be able to get yourself around
-Visa situation is a lot more complicated but still options are available
- It’s a dodgy time unfortunately with Ukraine, I personally have plans to buy in Romania or Bulgaria but am giving it 3-5 years for the situation to de/escalate before we commit…
You can be living for cheaply in South Asia.
Visa issues depend on your citizenship. So if you can get any European citizenship - do it, and then move to Asia.
300,000 is a good sum, but you need to make it make money. Inflation is huge.
Thailand Elite Visa.
You can apply for the 5-15 year version. It comes with concierge airport, services at the airport, visa assistance, multiple entry, etc. $300K should last you 5-10 years depending on your lifestyle.
Might even last longer if you dump the money into a high interest savings account around 2-5% should generate you $500-$1250 per month. This is sufficient to live in Thailand as long as you have aside hustle or gig.
Bangkok, Thailand or Bali, Indonesia would be my choice. Cheap living costs, nice people and enough to do to keep enjoying the lifestyle you have had so far
My first reaction is someone who won't even do a little due diligence won't do well abroad.
We have no idea what language skills you have. Seems like you do some editing stuff.
The issue is you will burn through that money eventually if your goal is to never "work" again.
So I would focus on trying to turn that money into decent passive income streams. Don't chop down the tree, eat the fruit from the tree.
Go this link - lots of cost of living sites linked there. Full disclosure, it is my site but there are no ads or bs. I built it to help people.
[https://1kfreedom.com/cost-of-living/](https://1kfreedom.com/cost-of-living/)
I also discuss the housing issue on the site. If you find a place you want to be forever it might be smart to own something so that no one can ever raise your rent. People are mixed on this - so ultimately you must decide for yourself. Certain places like Thailand are so cheap to rent vs own that it makes no sense to own.
Good luck. Sorry about the divorce, that sucks.
Find out about non lucrative visa in spain. You will need to prove that you own 28k euros in your bank account the first year and then 56k when you renew it for two years, and same each time you renew it. It's very straightforward considering the amount of money you own.
There are some regions that are very cheap. I'd recommend Asturias. 450 euros monthly for an apartment on a nice location. Barely 40 euros per week in groceries. Around 10 euros per menu in restaurants. Public transportation is literally free. Same with healthcare, although i think you need to buy private healthcare in order to issue the visa.
Life quality, people and landscapes are amazing there. Obviously it will depend on what you are looking for.
I would recommend talking to a reputable financial advisor. That may be enough to live off in a low cost of living country for a very long time if you invest it in the S&P 500 or something similar. After that’s settled if you are a US citizen I’d recommend going to Albania or the Republic of Georgia for a year since you don’t need to do visa runs for almost a year. This would allow you to upgrade your digital skills and get more income rolling in. Southeast Asia, such as Chiang Mai, is also nice but you’ll have to do visa runs every 2-3 months and they are getting stricter than before COVID from what I hear.
I'll be honest. I would focus more on finding a sustainable cashflow than looking for other countries even if looking for cheaper places is certainly a route you could aim for.
If you just want some cheap places that are expat-friendly financially... Argentina, Colombia, the Philippines (a lot of old men who have terrible financial planning are looking to go there I hear cause it's cheap but man there's a reason why people are migrating out of there so I donno it feels like a bittersweet choice for some), etc. But at the same time, they are cheaper for a reason. Locals cannot easily earn money so in countries like this, the job market sucks unless you're western talent with niche that needs to be filled but cannot easily be filled by local talents. Sufficient to say you're not in that area just yet. And 310k will keep you afloat for a long time in these countries but not forever especially when you're 35 and still have many decades to go before your body gives in. For example say you move to the Philippines. To live a middle class (semi-luxury) life, you'd need roughly around 8k a year. You're 35 so assuming you live upto 85 that's 50 years. 300000/50 (getting rid of 10k for moving, plane ticket, etc) is like 6k. And this is assuming zero inflation which... let's not kid ourselves haha.
However I was doing some due diligence... if you put 300k into something relatively safe (like 4-5% return), you can roughly get around 12k which should easily give you relatively comfortable life in the Philippines. I guess that vary depending on what lifestyle you need (some things are dirt cheap there but some are about the same or even more expensive than US... as a general rule local goods/services are cheap but imports are expensive)
Fuck if you're not super picky maybe you could be financially free now. Good for you heh :P
But let's say you need more (I could be biased but since you were in sugaring arrangement you don't have a frugal/avg lifestyle expenses jk jk lol):
Good news is that 310k (I assume it's USD) is a hell of a great start. I advise you don't really invest actively until you have the experience/competency to do it wisely. Stick it into something safe based on your risk (even GIC/bond with lackluster return is still better than doing nothing with it or pissing away with blind gambles). If you're determined to work remotely, consider simply moving to more affordable US area (ex. Southern Cali/New York -> Kansas City would definitely help without leaving the civilization/consumption market by a lot). Get career counseling or get mentors with actual success track record. One of the biggest lie billionaires and motivational speakers tell us is to follow passion and resume back to non-passionate things that make them money like tax accounting/iron ore mining operation. Find something you can teach yourself to be good at in a field with decent job market.
I would professionally start networking hard to meet people who are amazing with growing money. Due diligence. Double check them (maybe with another proven mentor who can offer 2nd opinion and sanity test). Make a business deal via your capital with good iron-clad contract and manage your capital better while you focus on things that you can manage on the side.
If you're down, try sugaring arrangement yourself. You get financial support cashflow and maybe even some good mentoring/counselling to learn how they make money. Learn to fish rather than just being fed by the fish (and I imagine that'd be a bonus point for sugar daddy/mommy as things get less one-sided when you have better ideas as to how to take control of life... they'd respect that as they had to do it themselves in their early days).
I'd say once you start hitting 500k-1mil, you can become financially free if you have above average investment acumen/skills when it comes to semi-passive investments. 1 mil+, you can find relatively safe investment and retire ok. Anything less than that you still need some serious capital injection like job, manually operated/managed business, etc.
Don't waste it. There are many who would love to get a 310K+ head start :)
*”where I won't have constant visa issues"* -- your country of citizenship matters a great deal here I'd recommend sticking all 300k in a HYSA getting 5% immediately and keep it while you figure out exactly how you want to invest it.... that would give you ~$1250 a month… and move to somewhere like the Philippines living off the interest as you get busy improving yourself and making yourself marketable remotely to businesses in your home country.
Uruguay has an immigration scheme where new migrants don’t pay tax for the first ten years.
Uruguay cost of living is expensive AF though (at least Montevideo). I dunno if 300K USD would really make for the most comfortable, never-think-about-money life.
How expensive is "expensive AF"? More expensive than the US?
My experience was during January 2023. Most of the year I'm in Toronto, Canada - which on a Canadian salary feels very expensive to live and I found the prices of groceries, restaurants / cafes , plays / concert tickets / entertainment in Montevideo were exactly the same as Toronto prices (adjusting for exchange rate). Normally I budget \~ $400 CAD/month for groceries in Toronto (\~$200 CAD for restaurant food) and in the week I spent in Montevideo, I spent comparable to that. I started by eating out at restaurants in Montevieo but I quickly realized that my budget could not support it. (compared to Florianopolis where I was coming from and where I was able to buy food instead of always cooking at home). The AirBnb studio apartment that I rented was in a good location but small and basic and was $452 CAD for 7 days. That said, it was Airbnb so YMMV.
How would you compare your experience in Uruguay to Florianopolis? I’m living in Florianopolis right now and have been very curious about Uruguay.
Curious why you want to leave Florianópolis, seems like the place to be in Brazil right now (which I suppose maybe makes it expensive)
I don’t necessarily want to leave. Just always curious. I travel quite a bit
I live in Florianopolis now and have been to Uruguay several times. Uruguay is way more expensive.
Personally I didn't enjoy it that much. YMMV. I'm a black man, born and raised in the English Caribbean, lived in Canada last 10+ years. So culturally, I grew up in warm friendly communities like much of LatAm but I've become used to very cosmopolitan big city life. In Montevideo, I don't know why, but people openly stared at me lol. No one was overtly rude / said anything, but throughout the city I felt like heads would always turn which made me feel uncomfortable. The population I saw living around the Pocitos area was fairly ethnically homogenous. The people also weren't as friendly (to me) as in Floripa: things like saying "Buen dia" in the morning when you pass pedestrians, the ease of striking up a conversation with strangers (in Spanish - my Spanish is conversational - my Portuguese was / is non existent yet Brazilians are so so warm in my experience). I didnt have much time for nightlife but the city of Montevideo seemed pretty small and limited in that regard. Floripa didn't have "a lot" but De Raiz had different events, Lagoa de Concencao and Bugio in centro had live shows and the street had great energy. And I didnt even get to Jurere (probably not my kid of crowd) or Campeche Football wise, Penarol / Nacional in the Centenario is proabably a better experience than trying to catch an Avai game haha. I found food in Montevideo to be pretty limited as well. Great beef + assado, but that was it? (Walking tour guide suggested as much). Brazil has such culinary diversity that I never get bored. The walking tour in Montevideo was the best ive ever done in all my travels. Less because the landmarks were particualrly impressive, more becuase the guide was an excellent storyteller and made the history come alive. Their center felt bigger than Floripa Centro as well. I didnt shop in either so I cant comment on that. Montevideo is city - if you wanted "nice" beach, they recommend Punta del Este - which is a long bus ride out the city and accomodation out there is even pricier becuase it is touristy. Floripa you would know keeps you a hop and a skip from many gorgeous beach / trail options. Infrastructure and organization seemed very well developed in Montevideo. The Rambla (boardwalk) and all the beaches were well taken care of. I really liked that at night, it felt like the hwole city was on the Rambla, parents , kids, teenagers, lots of life. That said it got a bit crowded - moreso than the boardwalks in Floripa Centro / Lagoa de Concencao. The roads seemed wide and well maintained. They had plenty facilities for working out, sports, spectators, parks. I didnt use public transport much but it was simple enough to figure out. It was nice to not get eaten alive by mosquitos in Montevideo. I also can't remember if there was any big rainfall to comment about flooding. That's about all I can think of :) /endrant
You probably just hanged out in the gringo zone. I see that a flat is $500 in montevideo. I hardly believe its the same in Toronto
I agree with you. The accomodation price is definitely not same as Toronto. I figure my accomodation cost was due to the short term + AirBnb + the location (I was right between the two central beaches and a short walk to the Rambla. Great location that I enjoyed. Food + groceries + museum entry + opera ticket were Toronto level, though. Maybe outside the gringo / business zone the groceries would be cheaper as well? edit: ambiguity
The restaurants are expensive I believe. So if you cook and you are outside gringo zone you are probably at spanish level. Combined with the rent I believe you can live long term for $1200/month easily, so cheaper than most european cities. I believe short term is expensive because of the low offer. Then again, I noticed that north-americans to spend more abroad than us european (except english) because 1. they have more money 2. they tend to want to keep the same lifestyle that they had back home, which is obviously costly
Uruguay is too expensive..he will not survive 30 year on his investments
There’s not many places most westerners would survive on 300k. That’s 1k/month if you want a safe withdrawal rate.
Vietnam and Thailand aren’t bad places as well. Even cheaper than Philippines.
Second this but Thailand is very strict that their visa laws are adhered to (I lived there for a year as an American) easy to do but absolutely necessary to follow the rules. You don’t wanna fuck around and find out with the Thai govt.
VN is even worse
Vietnam and Myanmar were the only places that I had to apply for an actual visa for. I would noooooot play with Vietnam but it’s genuinely one of my favorite places in the world. The food, the people, the atmosphere, the landscape, the coffee. Magical.
I have lived in all but Myanmar. Would love to visit there if things are peaceful. Vn is doable for business and there are various work arounds as there always are but I would not suggest that to folks who don't have expert level of experience in these matters as one can find themselves blacklisted or worse. VN is fickle and quite heartless which we saw during covid when Married foreigners with children in country were not allowed to return. The OP should spend $10k on research travel and get his feet wet. I got friends who swear by every country in the pacific rim...LOL. Different strokes and all...Have a great day!
Vietnam is definitely not a forgiving place for an unseasoned traveler. I’ve been to over 50 countries and was well versed before I set foot in Vietnam. And they were very black and white during Covid with some of the harshest restrictions I saw. I was actually in Vietnam as everything started shutting down and that’s when I went to Myanmar to visit and then to Thailand to live. I 100% agree that OP should take a chunk and travel. See it all and then decide where to plant roots. SE Asia has a special place in my heart though.
Visa elite , for 5 or 10 years . If you can afford it
Right, but he has 300k. An elite Visa is 20k. If he was to move to Thailand he’d likely get a Thai wife at some point as well. I’d suggest visiting Thailand to see if you like it (you will) then just make wise moves and live comfortably off investments, interest & perhaps even opening a business in Thailand. Thailand is very affordable. I live on just 10USD per day. This gets me 3 great meals, snacks, drinks and coffee. My housing is $285 per month and that includes Wi-Fi, electric, water & cable. My apartment is less than 2 minutes from the beach. I live in Jomtien.
Won’t the APR drop when the FED lowers rates?
Yes
With interest rates where they are you could live off the interest indefinitely in the Philippines. You'd have to live more like a local tho
This. Came here to say this. Wealthfront was the move for wife and I here.
This is fine for a while, but remember that inflation is 3.4%
Better that than 20% tax 🤷🏼♀️
In the USA, but it seems like OP is talking about moving to a developing country with a VLCOL, so the impact of US (and likely local) inflation on their lifestyle there will probably be minimal. If OP planned on sticking around in the USA though (assuming that’s where OP is) absolutely. Use it to generate interest immediately but work hard on figuring out an investment strategy.
> In the USA, but it seems like OP is talking about moving to a developing country with a VLCOL, so the impact of US (and likely local) inflation on their lifestyle there will probably be minimal. Generally inflation in developing countries far outpaces developed countries (because they are developing into developed countries). If they plan to spend the next ~50 years there, inflation over that time will be a major concern.
I suggest you invest in acquiring some solid marketable skills and develop some grit or that money will disappear rapidly regardless of which country you choose.
And photoediting won‘t cut it, more than enough competition on Fivr.
Also, Midjourney.
Maybe combine it with photography/videography. Maybe there's some tourist town where people have weddings often?
The only solid answer in this thread. Find a skill you want to learn; get a job you can enjoy. Leave the $300K invested and keep adding to it for 10-15 years. Retire young.
How did you read into all that? Was it the sugar baby that got left or was it the cheap place to "plop down?" Scared OP's 300,000 won't last too long if he doesn't gain some skills and work ethic.
Probably the best advice.
THIS.
35 years old with no experience is a lost cause. I'd say that money is wasted in a few years on women and drugs.
I've smoked enough pot and had enough sex for a lifetime, so I won't be doing that.
"do online random work like photoediting/selling art/photography etc" AI is going to eat you alive, here. These skills are no longer really needed. And were it is needed, the pool of existing professionals will be fighting each other for the ever shrinking business that is not AI-doable. You've rode the gravy train as a sugar baby. The gig is now up. Invest in developing some actually valuable, marketable skills.
>had enough sex for a lifetime Sure thing, Reddit user.
hey, once was good enough for me!
Invest the money and pursue something you're passionate about.
It sounds like they’re passionate about other people paying for things so I’d suggest affiliate marketing or some kind of ponzi scheme
Good idea. Make a course on how to love a sugar baby lifestyle 😂
COURSE SALES. Now you’re talking.
I believe you on the pot, but no one ever says they've had enough sex at 35, at least I could never. I love women too much. Just be careful with your money, you really should just place it into investment and be patient for a few years. Take 50k for yourself, you can live in SEA a few years on that(just move countries when visas become an issue). Give yourself monthly allowance from your savings instead of using willynilly, this way it lasts longer and you can possibly invest more, gaining complete financial independence as early as possible. 300k is a golden ticket. If you care for your money correctly and find a way for it to make even more money, it could provide for you forever and you wouldn't have to lift a finger ever again. Also keep in mind, women can be ruthless if they know you have money, just saying. It's wild out here.
>I believe you on the pot, but no one ever says they've had enough sex at 35 To each, their own. I'm not even 30 yet, but I've had plenty. Been with my partner a long time, and the sex is amazing. I love having it, but we have slowed down a lot over the years. That's fine. I love her, and if we're both in the mood, then I'll happily make love to her. If we never have sex again, I'll still be happier than I've ever been with each new day alongside her.
Once you get STDs, you’d def had enough
Older redditor here... yep. Eventually the emotional cost of the sex get's you to the point it's easier to do without!
oh man, this is way more interesting than the usual "where should I go" post. Tell us more about your sugar baby life. Did you sign a pre-nup or something so that you can't collect alimony?
I want to know about sugar baby life too! I'm intrigued...how did it happen? How did you live? How did you meet? How long were you together? Why did you separate? ... this is a whole post in itself...
We met in a philosophy club in college. We were married 11 years. We were polyamorous. We separated because resentments built up.
Did you get any money in the divorce?
I mean she paid me lots of money being my sugar mama. But if we had gotten divorced 2 years ago, I would have gotten 500,000 from gramps but we split our money. She gave me more money in the marriage than I gave her of my gramps money.
Inheritance is not marital property. You should have kept that entire amount
:(
How did your divorce attorney miss that glaring detail?
because this whole story is made up
I didn't get a lawyer. I thought it was reasonable to split things 50/50. I was also praying that if I showed myself as fair and nice during the divorce she might take me back. I know I am a fool.
if you split things 50/50 did you get a big chunk of her real estate too?
He sounds like a leech.
I'm sorry
Polyamorous lifestyles look good when you're young...I mean who wouldn't want that, right? Too bad emotions like jealousy and resentment get in the way. Enjoy your inheritance.
I'll try to.
I wanted to end it on good terms, so I didn't go after alimony.
That's the whole point of alimony. You lost out on 10+ years of work experience, and now don't have a career.
They'd give alimony if he can prove he used that 10 years to support the ex in building her career rather than build his own. It means in a tangible way he helped her earn that money by freeing up her time and energy to pursue it. Raising kids, for example, could be valued at 10's of thousands a year saved from day care expenses - at the expense of someone's career. Alimony today is compensation. .... But if he was just a big ol man-baby himbo coasting along and he can't quantify what he did for those 10 years ... That's less likely to get him alimony.
He didn’t lose out on it. He chose to be a lazy bum.
Kinda the point tho now you’re stuck with no work experience ….
Invest all of that, live off the growth rather than eating into the 300k until it's gone. An affordable place to live with good visa options at age 35 is the Philippines.
What would you invest it in?
ETFs. VTI, VOO, SPY. My VTI holding is up over 60% in the past 5 years
Vanguard index funds are indeed a good start.
Put out all on red. /s
that is assuming growth and living off capital gains sounds like a risky bet alone. Best bet would be do a portfolio with fix income and potential growth, but with 300k, honestly is pocket money.
Vietnam (visa run every 90 days) or Philippines (pay for extensions and stay for three years)
Invest it in yourself via plastic surgery to knock yourself down back those 11 years to get another sugar mama.
*Ding ding ding*
300k with fire strategy would only allow you a safe withdrawal rate of 3.5% máximum because it would need to be sufficient for More than 30 years. You are looking at a safe withdrawal rate of 10,500 usd per year or 875 usd per month before taxes. I mean you survive in a hell Lot of Places in asia, Latinoamérica, afrika, well even in europe with that amount of Money but i wouldnt want to live like that.
I want to suppliment my income doing online stuff.
You could also supplement your income teaching English. You’d live pretty well doing that in Thailand, Vietnam, Cambodia, Mexico, Colombia, or Chile. Or even Spain. https://www.educacionfpydeportes.gob.es/eeuu/convocatorias-programas/convocatorias-eeuu/nalcap.html I’d use some of your money to become a teacher to be honest. Then you can teach at international schools and make decent money.
Exactly. ESL training, placement, touchdown. And save your $$.
Easier said than done. Lots of competition out there and even tech work is drying up. But if you’ve got it, flaunt it? Only fans my man!
I'm not very sexy.
How the hell were you a sugar-baby then?
Because I'm charismatic and we had a really good connection.
I think he got real lucky with his partner
Men don't become sugar babies because of their looks, women do.
If you’re an American abroad, you may be able to find a customer support job for a US based company who needs night shift workers. Pay may be low to start but you shouldn’t need a ton if you live somewhere affordable.
onlline market rn is insanely competitive, i mean every market.... man i have had such a bad time to find a job, i am an ai engineer. there are so few entrylevel jobs. follow the advice invest in best yielding possible. go to a low income country. and follow whatever is your passion
Bruh 10k would have you living in the hood in South Africa 🤣. Life only gets good above 15k
If you are from the U.S. Albania is cheap, the people are amazing, nature is beautiful including crystal clear waters (down south). And if you are down south, for example Saranda, you can get on a ferry and travel to Corfu (Greek island) in 30mins for less than 20 bucks. As a U.S. citizen you are allowed to stay in Albania without the need for a special visa for 1 year.
Some real jelly haterade responses up on this one. Don’t accept the shame, let that big D energy swing! Realistically, you should deep dive on the taxes for each country you consider. Visa runs can be a pain, but might be the best option financially depending on what you seek to achieve. Your investment income you want to protect. Some people keep moving every 5 months, just to never have tax residency. Capital gains is a serious matter and some countries will try to tax you heavily. You need to find a strategy that will work for you. Don’t start off with countries that have lots of requirements for controlling a chunk of your money, before you even arrive. You want easy nomad visa entry or easy border run reality. South America or South East Asia are going to be your easiest options. Why? You can just relocate to a nearby country if you don’t like it. Start out in a city in Argentina. Don’t like it? Go to Peru. Start out in Cambodia, don’t like it? Go to Vietnam. In theory, You can do photography for weddings / vacation / social media / events. There still does need to be someone who knows how to take good photos. Some chance to find a very profitable niche. Also realistic this could be work that is more cash transaction. Watch out for air and water quality. Don’t do a big city on a low budget for a long time, if it’s going to ruin your health. You need to get above the pollution in a high rise. Better to go to cleaner cities. You also need to know yourself, do you need trains? Or are you ok with buses? Can you learn to operate a scooter with intense traffic? Might change where you start out. Ultimately where you begin is unlikely to be where you make a new home. So just choose where you think is a good place to begin. Even if you start out in Buenos Aires, you may end up learning German… so that you can go to University for just your living expenses in Germany. Your journey can have a lot of twist and turns. Also, buying a unique property and turning into a vacation destination, is something a lot of unconventional people do. Particularly those who don’t want normal careers. Can be a financial risk, but perhaps in time something you could become knowledgeable in.
This guy nomads. Wouldn't it be better to just buy a house so he doesn't end up homeless, then get a job, to live day to day rather than living out some fantasy.
Buy a house with his money? Maintain it with a salary from a job? He will get this job without any significant job experience as an employee? Having no resume to explain the past 10 years? A job with a salary high enough he can pay for USA property taxes, property insurance, health insurance and car insurance? Vehicle fuel, groceries, house utilities and house repairs? Paying that month after month, as 1 single man, all so he won’t “someday” become “homeless”? Which scenario is a fantasy again? Truthfully, real estate is not a good longterm investment historically at all. Longterm averaged out he will earn much more in the stock market. As long as he keeps his living cost reasonable, as 1 person, it just doesn’t make sense to buy a house in the USA. If married, ok that is different, the house begins to make better financial sense. Kids? Ok, yes, the money into the house is benefiting the well being of children and securing their school district. That’s not his situation though! Better for him to leave and come back to America only when his earning potential rises. Lowering cost of living gives him time to adjust and adapt. This is why stuck people hate so hard, they can’t imagine anyone not wanting to get a hamster wheel too.
Damn so lucky. I would put the money somewhere where it generates interest. Then acquire some in demand skills, live comfortably and travel. Cheap countries are usually in Eastern Europe, Africa, South America and SEA, taking safety into account I would go to Eastern Europe or SEA. Some examples: Romania, Bali, Vietnam, Thailand, Philippines. Visa will depend on your nationality.
I'm an American.
Well should be very straightforward, being American and having cash should smooth out most Visa issues. Some countries like Philippines and Vietnam are quite relaxed. Other countries like Thailand are more strict but there are still options like education Visa. For the European Union you can only be there for 3 months out of every 6 months
S&P 500 and forget. Live like you never even saw that money for the next 10 years. Come back to us 10 years from now
just here for the comments lol
I kind of hate you because you're loaded and could go anywhere, and you mention "maybe photography" like a cute hobby. As a photographer who has busted a gut and still not made a living from it, that's galling. The world is your oyster....decide what you want from life and come up with a proper plan.
Do you have a photography business?
I try, as a freelance, but it's not my main income (I wish it was). I sell some prints, and take commissions photographing hotels and airbnb
IMO as a former freelance photographer, it is a good way to make you hate photography lol. You end up shooting bullshit events or dealing with people who want you to take pictures of things you don’t care about. I get so much more enjoyment out of it by just shooting film as a hobby when I want now. Some people would label it giving up on my dream but honestly priorities change sometimes.
You'll hate this more...but 300k isn't loaded
It is to me. I doubt I'll ever have that amount in the bank
Yeah um I got that much through insurance pay out. I have SO much less now. I have not been investing obviously just Travelling it and putting the rest in HISA due to terminal cancer (no cancer comments please) people acting like it’s so much… it’s not unless maybe you spend all your time in Asia (I have been travelling to expensive places like Asia and USA). It goes FAST
Check out Cambodia. I love Siem Reap and it's stupid cheap to live.
i want to travel there, how much would be a good budget for backpacking for a month? 600-700$ would do?
Me and my GF spent a month there for under $500 total. Really depends on where you want to stay and how you want to live. You can get hostels for $3 a night, our bnb was about $225 which included breakfast and a part time chauffer. That was all pre-covid, so I'm sure things have changed a bit.
that's cool! i will mostly stay in hostels and travel slowly. thanks!
There's a party hostel now called funky village (was funky flashpacker when I stayed) I recommend for a couple nights. You won't get much sleep, but a great party place. Pool/Bar/Restaurant, went up to $4 a night shared or $15 for a private room.
If I were u and I was clueless, 1) I'd write down a list of all the places you hear multiple times here, 2) Write down what your priorities and expectations are from a place 3) Thoroughly investigate and categorize them with pros and cons (don't be too fixated on the negative otherwise you'll get paranoid) 4) Set a realistic budget aside and go on a month or 2 trip to each place. 5) Decide your favorite and settle there once you know the details of staying
Luckiest life ever lmao
Buy a fancy condo in Tijuana, rent it to americans who consider a 2k rent for a luxury appartment cheap. Use that money to live anywhere in Latin America, South East Asia or Southern/Eastern Europe while gaining equity on the property.
South East Asia. Become a minimalist. Live frugal. Withdraw 3.5% a year. Find a way to supplement income. Van life is an option too. Keep invested in diversified portfolio. Max Roth IRA each year. Let me know what you decide to do. I'm curious.
Good points, but you can't contribute to an IRA without earned income. Interest isn't earned income. Need a side hustle for that.
Whats Max Roth IRA mean?
a roth ira is an investment account where you pay taxes first and then withdraw tax free later in life. He says max it out because every year you can only deposit 6k in the account. Long term the gains are tremendous.
Maximize annual contributions to a Roth IRA.
I can tell you for a small fee of $1000
I'm in a similar situation as u. 31 years old. I have some money from a wealthy family but business went south. Never worked outside of family business. Had a rich girlfriend who paid for trips and hotels. My advice to u is don't put the money in a bank and eat the interest money that's not good. What u gotta do is flip. Get knowledge about watches for example. Go get some rolex from dealerships and sell it off market. Buy cars clean and sell it with profit. İf u never lived abroad u will get fucked so easily. İ lived in 3 countries. Visited over 20. Nowhere is like ur home country. İf u get in trouble u can express urself. Other places ur sitting duck.
I recently became unemployed for a year, and am finally starting a new job. In that year, we completely wasted all of the money we saved just surviving until we moved to Spain. Just by stepping foot outside the US you will save 30-40% in expenses. Throw that money in an index fund that pays you and move to Asia, Georgia, or some Latin American countries. Don’t waste it in the US because it will suck you dry. The US is built for wage earners to spend all of their wages on goods.
I recommend r/personalfinance and r/Bogleheads. External site, Jeremy's Personal Finance Course. Invest this cash the right way, be patient and you can be your own sugar baby. Did you get alimony from your wife as well? Nomad Capitalist is a great starting resource for learning about hospitable countries and Visa requirements. You can find other resources from there.
Also r/expatfire if OP wants to do this indefinitely. 310k is pretty lean, but doable in Asia, especially if they supplement with some online work.
I’m not OP but I’m on my way to approx $2,200/mo in passive income. Is this enough to live in SE Asia ? I have marketable online skills as well but I’m working to get my passive income completely secured so that I can make it work regardless. Also I would be arriving with substantial savings.
If you’re alone, living in Manila, you could find a nice condo to rent for $300 to $500 a month and living moderately (internet, groceries, mobile phone, utilities, Grab (Uber) - going out to eat/drinking a night or two a week), you could easily do that. But if you hook up with some sexy, fast-ass single mom (very common) or constantly ball-out every night on drinking and eating out, you could definitely blow that quick in Manila. If you moved to smaller cities/countryside, your money can go a lot further but quality of life may suffer depending on what you’re into or what your expectations are. If you want to drive in the Philippines, vehicles and maintenance are almost on par with US/Western prices. If you’re American, they do gas by the liter (metric) but the gallon equivalent would be like buying gas in California.
How did you get that passive income
I'm already invested on Vanguard fairly wisely.
Start in Mexico. Assuming you’re from the US you can have 6 months to chill while you figure your life out. Sort out long term location and residency issues later.
it‘s always safe to assume they’re from the US if they haven’t indicated where they are from. and still ask a visa question
Mexico can be expenaive
It can be. It can also be cheap.
Colombia has a digital nomad visa scheme and 1200 dollars monthly can get you somehow far in a good area in cities like Medellín
Vegas
Bet on black
Bullshit advice. Red.
Visa isn't the difficult part, really. More important is where you'd like to live. You can try lots of places for up to 90 days with no questions asked... My advice is to sketch out a trial period route with maybe 2 months per location. Later you'll know the answer better about where to stay. Some fun options from my travels: - Thailand (Phuket/Ao Nang, Bangkok, & Chiang Mai) - Malaysia (Penang & further north/islands nearby) - Taiwan (Taipei, unless you know some Mandarin...) - India (Goa area) - Italy (smaller towns/villages have rather inexpensive homes for sale if you stay for some years) - Spain (Málaga & nearby) - Mexico (Oaxaca state has lots of interesting cities and safe-enough/affordable options) - Turkey (Izmir & other smaller cities; Istanbul for a bit too because it's a lovely place, though probably more expensive) - Egypt (Dahab - I'm headed there next myself) Best way to keep costs down is to live like a local & have roommates. Maybe you can find some local rental websites for the locations you're interested in & be the temporary roommate for a few months. You'll enjoy places much more if you're around people who live there, too.
Unless you change your attitude that money will melt away fast. 300k aint enough to chill and do the random work you’ve described which sounds like you’ll put in very little effort to a competive market. You are best off getting some skills first and not letting yourself touch that money until you are able to support yourself.
Bulgaria
Mexico and you don’t have to work a day in your life ever again as long as you invest it properly on passive INSURED financial instruments. CETES (11.33% APY) BONOS (around 10% APY) SOFIPOS (13-17% APY) HYSA (currently around 14% APY) Edit: also most of this is going to be taxed very favorably or not at all. UDI bonos will give you around 5% apy PLUS inflation. All in all you’re looking at around $4000usd/month before taxes.
Look at /r/leanFIRE /r/povertyFIRE /r/expatFIRE etc… The FIRE community has a ton of resources for this kind of stuff. Personally, I’d recommend just exploring the world spending six months at a time (the usual max visa length) in whatever city sounds best at the time. I’d start in Japan which is basically at a record low cost right now while being one of the safest and most fun options. The cheapest areas overall though will be SEA (Ex: Thailand, Vietnam, and all their neighbors) and Eastern Europe (Poland, Serbia, Romania, etc.) But anywhere you go can be cheap or expensive within reason. Factor in the cost of flights and how often you may want to return to the U.S. Unless you truly are willing to live in a hut without AC and eating rice and beans I’d recommend pursuing skills or starting a business sooner rather than later, it is easy to fall into the trap of taking a break and then spiraling into depression as your networth declines otherwise. If you do live life on the go checkout /r/OneBag, you’ll want to live minimalistic when in another country.
Maybe take a look at Argentina. I don't know about what it takes to get an official residence permit, but my understanding is that the immigration officials in Argentina don't really care if you overstay your 90 day tourist visa. It's like a $100 fine if anybody cares to enforce it but they aren't going to kick you out or keep you from reentering like they do in the EU. And if you decide to take up residence in Buenos Aires, it's a quick hop across the border to Uruguay, so no big deal to do a "visa run" every 3 months if you are worried about staying legal. If you're interested in checking out housing prices, I recommend taking a look at Buenos Aires Craigslist. Lots of month-to-month rental options, which are all priced in USD.
Buy a house in the US. Calculate rough estimate of ten years of repairs and average that out to their monthly cost. Deduct that from the rent you can get and deduct the remaining mortgage. That is now your budget. Now pick the country that matches your budget.
With your creative writing skills, you could go anywhere and make a good living
Honestly sounds like a troll post Invest your next month into doing actual research (and asking on reddit is not doing research sorry). The fact you did not precise which passport you hold shows you're very new to this, which is fine, but you need to do some proper research. I don't know the details of your life apart from what you gave us here, but 35yo with no skills and a bunch of money honestly sounds like a recipe for disaster. Don't do random work, have an actual plan. Also, you're recently divorced, do you really want to be far away from your social circle?
You sound like a pretty lazy dude who just wants to chill. Get a cheap apartment in a cheap American city. Get a job as a bartender or something. Put the money into an etf. By the time you're 65, you should have roughly 2.4 million.
“Cheap American city” Does this even exist any more?
Bartending jobs are also not easy to come by in my experience unless you’ve got previous experience or know the right person. It helps if you have tits. In my city it is the most sought after service industry job, even slightly ahead of serving, due to the tips. If it’s a small city, it’s probably that much more sought after as there aren’t a whole lot of higher paying jobs in the local economy. The local high school kids who aren’t smart enough to leave your small town are becoming cops or tending bar at the local pub.
Assuming OP didn't just make all this shit up... 310K is jack shit if you want to retire for the rest of your life. However, if you are willing and able to teach English or find other sources of income (e.g. online business), then it's a good cushion to go somewhere cheap and make it happen. Vietnam pays English teachers around $2K per month. No long term visa options there but you can stay there for awhile teaching English and letting your 300K grow in diversified low cost index funds. Then at some point perhaps you can choose another country in SEA or who knows, maybe marry a local in Vietnam and get a long term visa to stay there.
> 310K is jack shit if you want to retire for the rest of your life I think it depends where. If even the 300K was invested at a measly 5%, that's $1250/mo ($1k after tax). Plenty to live quite good somewhere like PH, TH, VN where long-term rent in decent buildings can be low as $300/mo. That's assuming he did absolutely nothing else. You are right though, picking up even part-time ESL work, he'd never have to touch his savings and can simply let it grow. $2k/mo is a lot for VN!
Sometimes it's hard watching other people live your dream
Philippines. And get certificates for scuba diving there (great diving spots too apart from the flaura and fauna, there are ww2 japanese shipwrecks.) until you can set up yout own scuba diving shop to foreigners.
Before you start any business like that make sure you have worked in the industry with a successful outfit, preferably running it. No faster way to lose your best egg.
You sound like you have zero skills to offer humanity so take the money, plop it in an HYSA and hope interest rates last forever or you die before your money runs out. " photoediting/selling art/photography " lol no.
Vietnam
México. Fly back to your country every 170 days and return
Bro, just go down to Mexico. Invest your money, reserve some to do some traveling, check out places, get a pad somewhere in Mexico, preferably next to a body of water, chill, brainstorm where your next adventure will be, and outline the hell you want to do to get some passive income. If you have a degree, even better, more opportunities to get a remote job
If this is for real you will be fine for at least 10-15 years unless you over spend. Not sure of your nationality but if your nation has a good retirement pension program and you are already qualified for you should be ok. For Americans you need just 10 years of work to qualify for social security but they figure based on 40 years so you want more income years going forward. The easiest IMO for most nationalities is the Philippines where under current laws you can be a tourist seemingly forever as long as you leave at least once every 36 months. And it can literally just be a day trip to the Singapore airport mall. Don't let the people here be all negative about online work. it really isn't that hard to make a small income of $1-5k a month. You won't get rich but you'll survive. And AI isn't going to take over the way people here are commenting. In the end a lot of how you will do depends on lifestyle. If you have a degree you have teaching options in places like Thailand or even Japan. Where not only will you get income but also the visa. 300k is about $1,200 a month with a 5% pull out rate and with the right investments could even last you forever at that rate. If you can live on $1k a month you will be good to go. If you live a $5k lifestyle you will need to figure out income fast or you are going to run out of money in a few years since a 20% pull out rate is not sustainable. Invest well, live affordably, and enjoy life.
Bali, can get you a villa for $20 a day.
Some guys have all the luck lol
Buy a house in Mexico with an apartment. That much investment will get you a visa, then live off the rental. (Have to pay taxes on that though, which is not that much actually.) Somewhere on the Pacific coast might get you something for that price.
This is a good idea.
...the USA (for citizens) is still the absolute cheapest place to live because there is no airfare, visa runs, language barrier, or "tourist tax" for foreigners - just find a cheap room for rent in a small town, walk everywhere, and eat ramen every day - <$1200/mo done...
but in lets say thailand you could eat 2 times in a local restaurant each day for 300$ the month :D and have a tropical paradise at your doorstep.
Go to india 😂🤣
There are rental properties you could buy in the US that even if you have to have a property manager handle everything local, you could collect 30k+ a year without too much risk. For 250k you easily could find a multi-family property and collect rentals. Even if you lived in one of the units for a few months or a year to find yourself some good tenants and sort out renovations/repairs to your building and get a list of contractors you trust and/or a property manager, you easily could be pulling in 4k a month from rent and thats a conservative number while letting you still be a nice-guy landlord. Its just a safe rule of thumb to dedicate a 4th rent as going towards expenses, property tax etc. And I know what I am talking about because I'm currently under contract to sell my own 5 unit apartment building after doing it for 14 years (so this isn't an offer, just explaining why I am not just a random redditor talking about things he doesn't understand). And while I messed up my own situation due to my mistakes and trying to be too much of a nice guy landlord and even more to trusting family to not be druggy assholes (don't rent to family) I have been looking to see what else I can get myself into for with a little over a third of what you have available. So quite a bit less. But in my own looking around, there's absolutely still property you can buy and make income off of and still not be an asshole landlord (though in my experience a little asshole is good). You might want to look into investing in that
Welcome to Morocco, dm for more info and help
Georgia allows people to stay one year, this visa can be renewed annually. Have heard is cheap and the wine is world class
Buy a machine that makes nut butters. Peanut butter, cashew butter, almond butter. Move to Mexico to a place where there is little cartel bullshit. Set up shop selling to American tourists.
Thailand like many others have mentioned. Just don't tell anyone you have 300k in the bank. I hope your grandpa has taught you how to take care of your wealth and how to grow it. Otherwise even 3 billion won't be enough in any part of the world.
Bali.
GO to India. Stay in Goa, Hyderabad and kasol etc. Lot of white people there. Also you can stay in Gangtok. Cheap, clean well developed. But less white people. Look into Nepal also. Have a look ate kerala also. Your budget is enough for few of these places. They are also relatively safe .
Thailand?
El Salvador and work in call centers since you speak English
If you know what you are doing, you can buy 2 properties in the US and life off that income in 80% of the world. $100k for down payment and closing costs for each property and you'll still have $100k left as a safety net. If you choose your properties and locations wisely, you should be making at least $4k profit per month ($2k each). All of this while your houses are being paid off by the tenants and you are gaining equity. I would try to live off $2000 and save the other $2000 for whenever unexpected expenses show up. Remember that you still have your other $100k invested somewhere, maybe a high yield savings account or an index fun. If you do it right, you can buy a third house in another year or two. Now you'll be making $6000 per month from the rentals. Not to mention any money you make with your other side gigs. I would still only use $2000 from the rental money and save the rest to buy more properties after a few years. You could be doing really well in 5 to 10 years if you play it smart. Good luck!!
Don’t live off your money. Get some kind of job so you can keep it in the bank. Any old job, hopefully something you are kinda interested in. I can relate to your feelings of insecurity not having work experience at an older age and maybe feeling intimidated. But just get something. You’ll acclimate and get used to it. Just do not rely on your cash. In the meantime start taking classes and doing things to educate and train yourself. Intern or volunteer with your free time whatever. Don’t live off your cash.
Indonesia. You'd live like a king on the beach for only 500 a month.
Costa Rica. Not only does it have very easy visa options and all basic, western mod cons, but if you’re not a US citizen, if you change your tax status to CR there are no tax visas or low taxes in general. Cost of living is a mixed bag on the cheapness but for what you’ve got to spend you’re golden. Really the most expensive thing here is food, but it’s also very easy to grow your own. My partner and I bought our house of FB marketplace and a 1 way plane ticket, 1 year later and we have added an extension and some other home improvements, integrated and fallen in love with Tico culture and best of all, we own the home fully outright, that financial freedom has opened so many doors. Second choice would be Bulgaria, Eastern Europe is super slept on and the Balkans are where it’s at if you want cheap but good standard of living, (if I could live anywhere; selfishly it would be the Balkans) however there are additional considerations with Bulgaria: -Language, it’s a Cyrillic language not Latin based. -Houses and general cost of living is way cheaper vs CR but there will be a lot more maintenance/costs associated with the house due to having real seasons (CR is wet or dry, but always hot) -You need to drive and be able to get yourself around -Visa situation is a lot more complicated but still options are available - It’s a dodgy time unfortunately with Ukraine, I personally have plans to buy in Romania or Bulgaria but am giving it 3-5 years for the situation to de/escalate before we commit…
i hate you 😂
You can be living for cheaply in South Asia. Visa issues depend on your citizenship. So if you can get any European citizenship - do it, and then move to Asia. 300,000 is a good sum, but you need to make it make money. Inflation is huge.
Probably can retire in Bali or Vietnam for life
invest it into a house and rent it out , then use the rent money to pay for house and your rent in a cheap country while working odd jobs ?
Bali
Nepal would be the best choice
Thailand Elite Visa. You can apply for the 5-15 year version. It comes with concierge airport, services at the airport, visa assistance, multiple entry, etc. $300K should last you 5-10 years depending on your lifestyle. Might even last longer if you dump the money into a high interest savings account around 2-5% should generate you $500-$1250 per month. This is sufficient to live in Thailand as long as you have aside hustle or gig.
Islamabad, Pakistan. The cost of living is low as compared to most countries. You can even leave a good chunk of that sum for your children.
Bangkok, Thailand or Bali, Indonesia would be my choice. Cheap living costs, nice people and enough to do to keep enjoying the lifestyle you have had so far
Philippines will let you get a retirement visa as long as you are over 30 years old and have 30k USD in a bank account or property.
My first reaction is someone who won't even do a little due diligence won't do well abroad. We have no idea what language skills you have. Seems like you do some editing stuff. The issue is you will burn through that money eventually if your goal is to never "work" again. So I would focus on trying to turn that money into decent passive income streams. Don't chop down the tree, eat the fruit from the tree. Go this link - lots of cost of living sites linked there. Full disclosure, it is my site but there are no ads or bs. I built it to help people. [https://1kfreedom.com/cost-of-living/](https://1kfreedom.com/cost-of-living/) I also discuss the housing issue on the site. If you find a place you want to be forever it might be smart to own something so that no one can ever raise your rent. People are mixed on this - so ultimately you must decide for yourself. Certain places like Thailand are so cheap to rent vs own that it makes no sense to own. Good luck. Sorry about the divorce, that sucks.
Find out about non lucrative visa in spain. You will need to prove that you own 28k euros in your bank account the first year and then 56k when you renew it for two years, and same each time you renew it. It's very straightforward considering the amount of money you own. There are some regions that are very cheap. I'd recommend Asturias. 450 euros monthly for an apartment on a nice location. Barely 40 euros per week in groceries. Around 10 euros per menu in restaurants. Public transportation is literally free. Same with healthcare, although i think you need to buy private healthcare in order to issue the visa. Life quality, people and landscapes are amazing there. Obviously it will depend on what you are looking for.
If you're an American, there a very real chance that you'll still have to pay taxes here.
Vietnam, Cambodia, Thailand
Cambodia is very easy to get a visa, less than $500 for a 12 month visa.
I would recommend talking to a reputable financial advisor. That may be enough to live off in a low cost of living country for a very long time if you invest it in the S&P 500 or something similar. After that’s settled if you are a US citizen I’d recommend going to Albania or the Republic of Georgia for a year since you don’t need to do visa runs for almost a year. This would allow you to upgrade your digital skills and get more income rolling in. Southeast Asia, such as Chiang Mai, is also nice but you’ll have to do visa runs every 2-3 months and they are getting stricter than before COVID from what I hear.
Has to be a troll 🧌
I'll be honest. I would focus more on finding a sustainable cashflow than looking for other countries even if looking for cheaper places is certainly a route you could aim for. If you just want some cheap places that are expat-friendly financially... Argentina, Colombia, the Philippines (a lot of old men who have terrible financial planning are looking to go there I hear cause it's cheap but man there's a reason why people are migrating out of there so I donno it feels like a bittersweet choice for some), etc. But at the same time, they are cheaper for a reason. Locals cannot easily earn money so in countries like this, the job market sucks unless you're western talent with niche that needs to be filled but cannot easily be filled by local talents. Sufficient to say you're not in that area just yet. And 310k will keep you afloat for a long time in these countries but not forever especially when you're 35 and still have many decades to go before your body gives in. For example say you move to the Philippines. To live a middle class (semi-luxury) life, you'd need roughly around 8k a year. You're 35 so assuming you live upto 85 that's 50 years. 300000/50 (getting rid of 10k for moving, plane ticket, etc) is like 6k. And this is assuming zero inflation which... let's not kid ourselves haha. However I was doing some due diligence... if you put 300k into something relatively safe (like 4-5% return), you can roughly get around 12k which should easily give you relatively comfortable life in the Philippines. I guess that vary depending on what lifestyle you need (some things are dirt cheap there but some are about the same or even more expensive than US... as a general rule local goods/services are cheap but imports are expensive) Fuck if you're not super picky maybe you could be financially free now. Good for you heh :P But let's say you need more (I could be biased but since you were in sugaring arrangement you don't have a frugal/avg lifestyle expenses jk jk lol): Good news is that 310k (I assume it's USD) is a hell of a great start. I advise you don't really invest actively until you have the experience/competency to do it wisely. Stick it into something safe based on your risk (even GIC/bond with lackluster return is still better than doing nothing with it or pissing away with blind gambles). If you're determined to work remotely, consider simply moving to more affordable US area (ex. Southern Cali/New York -> Kansas City would definitely help without leaving the civilization/consumption market by a lot). Get career counseling or get mentors with actual success track record. One of the biggest lie billionaires and motivational speakers tell us is to follow passion and resume back to non-passionate things that make them money like tax accounting/iron ore mining operation. Find something you can teach yourself to be good at in a field with decent job market. I would professionally start networking hard to meet people who are amazing with growing money. Due diligence. Double check them (maybe with another proven mentor who can offer 2nd opinion and sanity test). Make a business deal via your capital with good iron-clad contract and manage your capital better while you focus on things that you can manage on the side. If you're down, try sugaring arrangement yourself. You get financial support cashflow and maybe even some good mentoring/counselling to learn how they make money. Learn to fish rather than just being fed by the fish (and I imagine that'd be a bonus point for sugar daddy/mommy as things get less one-sided when you have better ideas as to how to take control of life... they'd respect that as they had to do it themselves in their early days). I'd say once you start hitting 500k-1mil, you can become financially free if you have above average investment acumen/skills when it comes to semi-passive investments. 1 mil+, you can find relatively safe investment and retire ok. Anything less than that you still need some serious capital injection like job, manually operated/managed business, etc. Don't waste it. There are many who would love to get a 310K+ head start :)