What is the REAL cost of living abroad?
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How much does it cost to live in a place like Bali?
Today we are going to answer this burning question that I get asked all the time.
Does it make sense financially for you to relocate to Bali instead of staying where you are?
What about taxes and other related costs?
You might be on the fence right now, wondering if you should move to a different country (doesn't have to be in Bali uh) but you need to answer all these questions before making a decision.
Well the day when you will finally get your answers is here my friend
Make sure to tune in
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Welcome to the Freedom By Choice Podcast with your one and only hoste Martin. This podcast is reserved for freedom aficionados and entrepreneurs looking to create the lifestyle of their dreams.
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I want to talk to you about a question that you actually might have, because a lot of people ask me this, especially back in France, because they want to know how expensive expatriation is and the benefits and all that kind of stuff.
Oh, man, how much does it cost to go live in Bali and stuff like that?
So you might have been wondering and you may have heard stuff like, oh, if you go to Asia, you can live with two hundred dollars and you have this mansion and blah, blah, blah. OK, so I don't know, maybe it was true, you know, two hundred years ago or something. But today. It's not true.
With two hundred bucks you can't have like a mansion or something, but you can have, you know, something that’s a lot better than what you could have in Europe.
So I know people who are more like the Singapore type of people, you know, they want to go to a big city, everything's organized and stuff like that. And there are people who are a little bit wilder that will love Bali. OK, so Bali is just an example because I live here, I kind of like it.
But, you know, there is not one destination that that fits everybody. Everybody will have their own preferences and different places that they like.
What is the REAL cost of living abroad?
OK, so, you know, when you look at it, you just look in terms of, you know, how much the rent is going to cost and stuff like that. But I think there is a lot more to it. OK, but let’s just look at the numbers. So the numbers that people want to know are, oh, well, how much is the ticket, how much is rent?
And that's actually not even half of the equation, OK, because there are a lot more factors that you should consider when kind of like determining how much extra there is.
So in this case, I'm not talking about money that comes out of your pocket, but I'm talking about money that's going to stay in your pocket over time because in addition to the rent and all that kind of stuff, then you have, for example, your purchasing power that is going to be a lot higher here than in Europe, for example.
I think that's a massive, massive bonus. You know, one other thing is people ask me, I mean, how does it work for taxes? Maybe I'll pay lower taxes and blah, blah, blah. And I will say taxes shouldn't be the reason why you do this.
You should actually go because you like the place, OK? I'd rather be in a place where I'm super happy and stuff and I pay taxes and everything.
The main criterion for you needs to be your happiness and your quality of life. OK, one thing I love here is my quality of life. It's 100 times better than what I had in France, OK? I was doing well in France. No, I wasn't starving or anything. I was making good money and everything.
But I mean, here, the quality of life, I mean, the weather is nice. People are relaxed. I have time. I can go to the restaurant every day.
So these things there, I mean regardless if I had to pay taxes or something, look, I wake up, you know, I have a swimming pool here. I mean, the house that I have here, I mean, there is no way I could have had it in France.
I mean, you have to be a millionaire to have a house like this, like honestly. The food is cheap. I have time. I have good friends. The rice fields are beautiful, it's awesome, right?
So when you're looking at the cost of expatriation and stuff, don't just look at the money, because at the end of the day, here's the thing. Do you want to be buried with that money and being the richest guy in the in the graveyard?
You have to figure out what your priority is. And for me, my priority is my happiness, man. You know, it's as simple as this.