Places Where You Can Retire on $200,000 and Feel Rich

[john61ct]

Originally Posted by Cool Hand Luke

How about the British Virgin Islands?

I lived in a tent at Brewer's Bay for 18 months a few years ago, hitched rides for transport, crewed the races there and surrounding islands.

No alcohol, ate mostly as the locals do, lots of campfire cooking.

So yes very cheap 8-)

If you were renting a 1st world level place, in season better have a fallback shack. . .

[daletournier]

Originally Posted by dwedeking2

I tend along the lines of a64pilot. I'm conservative/cynical towards finances. This has hurt me financially but been good for the health (stress).

I'm amazed at the powers-that-be ability to kick the can down the road but at some point fundamentals have to come into play. When they do, it will be painful.

I carry a small amount of unsecured debt. If the financial-world-ends I'll default. **** the banks. They have no issue having someone else picking up the tab, why should i.

My boat is free and clear. Unless a hurricane puts me on the rocks I'm good.

Fundamentals just did come into play, the fed has basically admitted it can't unwind its balance sheet and can't get interest rates up. What was unconventional policy ie QE and Nirp is now to be conventional monetary policy according to Powell.

[john61ct]

Originally Posted by hpeer

So OK, does ANYONE here think Modern Money Theory makes ANY sense?

I ask because, in my meager understanding, it seems to imply the government NEVER has to pay back.

A crash course in MMT:

Buffett: No textbook predicted the strange economy we have today https://www.cnbc.com/2019/05/03/buff...ave-today.html

How the US actually financed the second world war http://ftalphaville.ft.com/2019/02/1...ond-world-war/

MMT: Sense Or Nonsense? https://www.forbes.com/sites/johntha...e-or-nonsense/

American Colonists Had a Modern Monetary Theory of Their Own https://www.bloomberg.com/opinion/ar...y-of-their-own

A 600-Page Textbook About Modern Monetary Theory Has Sold Out https://www.bloomberg.com/news/artic...y-has-sold-out

Henry George: The economist to watch in the 21st Century https://creditwritedowns.com/2019/05...t-century.html

Modern Monetary Theory Beginner’s Guide https://www.bloomberg.com/news/featu...ginner-s-guide

TheMoney Illusion » MMT “explained” https://www.themoneyillusion.com/mmt-explained/

Three levels of controversy over MMT https://www.interfluidity.com/v2/7097.html (lots of great MMT articles at this site)

Keynes is Dead; This is the Long Run https://blog.evergreengavekal.com/ke...-the-long-run/

Central banking, shadow banking, and infrastructural power https://osf.io/preprints/socarxiv/nf9ms

How I came to MMT and what I include in MMT http://neweconomicperspectives.org/2...de-in-mmt.html

Money is Law – Elaine's Idle Mind https://elaineou.com/2019/05/02/money-is-law/

MMT Debate: Three Keys to Understanding Its Significance https://www.bloomberg.com/opinion/ar...s-significance

[Buzzman]

Originally Posted by daletournier

In Australia you are paying a minimum of 20k-25kaud pa to rent a place, this is a basic house.....

Mate, how long since you rented a house in Oz?

$25K is only around $500/wk, and the only places you can get a house for that sort of money is WELL away from the main capital cities and conurbations.

I left western Sydney 10 years ago when my rent went from $250/wk to 300/wk. For a two bedroom house.

A house in the same street rented recently for $700/wk..!! And that's undesirable outer wester Sydney! Inner city you're talking same amount for a 1 bed apartment.

A mate of mine on the mid-north coast is struggling to find a house under $500/wk that is not located next to a sewage works or an abbattoir, or in a theft-prone area.

He found one, but it wasn't that easy....

And he's earning less than the 'average' wage of around AU$70K

[Simi 60]

Originally Posted by Buzzman

Mate, how long since you rented a house in Oz?

$25K is only around $500/wk, and the only places you can get a house for that sort of money is WELL away from the main capital cities and conurbations.

You need to get out more.
There is a lot more to Australia than Sydney.
Thousands of 2 or more bedroom homes in Brisbane area for $450 and less.

https://www.realestate.com.au/rent/w...ocation-search

[Buzzman]

Yeah, amte, first hundred or so on that list are apartments - only two houses under $500 anwhere near the city centre.

But QLD salaries are lower than Sydney, so it's all relative.

My son lives in BrisVegas, and he's on an ordinary wage, and can't get a mortgage.....

[Sojourner]

Everything depends on if you have to work physically near a big center or not. Most of us lifetime cruisers I think do not, either work from boat already or have retirement or investment income. So with that, screw sydney and brissie (i lived in sydney for a few years), go a bit south to wollongong (lived there for 4) or even further between there and kiama..... endless beaches, beautiful tranquil places, aint gonna be glitzy but aint gonna break the bank either. That said, australia seems like a very very pricy place since I left in the mid-late 90s....

[Sojourner]

Also re investment properties... Debt can be used well. Several of our homes we bought with 20 percent down. We were able to buy three additional houses like this, instead of one outright with cash. Sure there is mortgage service but on the net it gave us almost double the income. And in 20 more years the houses will be ours free and clear. Loads of deductions with a mortgage as well. It's good to have some fully owned for security, and luckily we do. But debt can be safely leverages if you are prudent and conservative.

[Kenomac]

Originally Posted by a64pilot

Obviously the greater the return, the higher the risk.
All I can say is diversify, have another source of income besides the investments, and be debt free.
If it hits the fan and the market crashes, we will be hurt, but as I have other income sources we would survive, if we had significant debt? Then maybe we wouldn’t.
Other people make money off of you if you have debt, these are major corporations, and in my opinion the likelihood that I’ll outsmart them isn’t real high, so I try to avoid debt.

My belief is that if you can’t buy something without going into debt, is that you can’t afford whatever it is.

If you look back into history at who has done well in hard times, it’s very seldom those that have significant debt, they most often go under.

There’s nothing wrong with using other people’s money to buy things as long as one has the means to pay it back per the agreed schedule. Paying cash for everything, especially for a depreciating asset like a boat is just plain bad financial planning. Cash should be working to earn more income, not sitting in a depreciating asset.

[Simi 60]

Originally Posted by Kenomac

There’s nothing wrong with using other people’s money to buy things as long as one has the means to pay it back per the agreed schedule. Paying cash for everything, especially for a depreciating asset like a boat is just plain bad financial planning. Cash should be working to earn more income, not sitting in a depreciating asset.

So you reckon instead of paying cash and zero interest for a depreciating asset you are better off borrowing money , paying interest and going backwards twice as fast?

[Simi 60]

Originally Posted by Buzzman

Yeah, amte, first hundred or so on that list are apartments - only two houses under $500 anwhere near the city centre.

But QLD salaries are lower than Sydney, so it's all relative.

My son lives in BrisVegas, and he's on an ordinary wage, and can't get a mortgage.....

Several on the first page were houses, but nothing wrong with units, plenty of people manage just fine in them.

Refine the search and 976 are houses, several on page one within 30 minute drive of the cbd, many closer.

https://www.realestate.com.au/rent/p...ocation-search

[UFO]

Originally Posted by Kenomac

There’s nothing wrong with using other people’s money to buy things as long as one has the means to pay it back per the agreed schedule. Paying cash for everything, especially for a depreciating asset like a boat is just plain bad financial planning. Cash should be working to earn more income, not sitting in a depreciating asset.

We'll that is as long as the income from the cash exceeds the interest on the loan

[Kenomac]

Originally Posted by Simi 60

So you reckon instead of paying cash and zero interest for a depreciating asset you are better off borrowing money , paying interest and going backwards twice as fast?

I don’t expect everyone to agree or understand how things work, nor do I care to waste my time explaining. But the rich didn’t get rich using their own money invested in depreciating assets.

[Simi 60]

Originally Posted by Kenomac

I don’t expect everyone to agree or understand how things work. But the rich didn’t get rich using their own money invested in depreciating assets.

I understand that borrowing money to buy depreciating toys is losing money faster than paying cash for that same toy.
Simple maths.

If they are still working, perhaps they can have some tax advantage to losing money, but they are still only getting a % of their loss back and......they are still working and I'd rather not.

Borrowing money to buy something that actually generates income over and above the cost of the repayments is something else again, but that's not what you are talking about.

[Dayo]

Originally Posted by YARGESOL

Don't be so sarcastic about Uzbekistan-this is ancient Khorezm...great histiric culture. Real fruites and veges. You may even try sailing on Aral sea. And get emergency treatment for free. Real treatment (central cites)for a fraction of american cost. And,you will feel reach with 200grands!

The Food is great also.