Reasons, ranging from entrenched consumerism to the high cost of living and career pursuits are forcing thousands of people to dream about life overseas. This is in spite of the challenges such as security, language differential and less than perfect health care system. Most people taking jobs overseas are attracted to high pay and perks like tax-free salaries along with the opportunity to work in positions that may not be readily available back home.
Other than the cost of living and employment, the other pertinent reasons drawing people overseas, according to RIA Money Transfer include; family relations, politics, retirement, and weather. The intricacies of the family unit can force a person to seek life elsewhere. This can happen when a spouse applies to have a partner and children relocate from elsewhere or when a spouse decides to join a partner living in another country.
For retirees, the temptation to live in a different country, where health care services are cheaper or better is always a huge plus. Extreme weather conditions caused by cyclones, earthquakes, and tornadoes can also force people to move from their own country, more so if the conditions on the other side are favorable to their lifestyle and taste. According to the UK Independent, below are five countries that offer an attractive and affordable cost of living:
Spain
Opportunities beckon in Spain for professionals looking for high paying jobs. The cities leading the way include; Madrid, Valencia, and Barcelona. The Iberian nation also promises great weather and low cost of living compared to other Western European countries like Britain and France. This is evident in the cost of accommodation, transportation, and food.
Mexico
The proximity of Mexico to the US, fantastic weather, fine vacation hotspots and an affordable cost of living make it an ideal escape for Americans looking to live and work overseas. A growing segment of Baby Boomer retirees is choosing Mexico due to a good quality of life and affordable food, homes and health care. The residential care costs as low as $500 a month in Mexico compared to $5,000 in the US.
Malta
The cost of living in Malta is much fairer compared to its European peers. The impact is greatly felt when it comes to everyday expenses like food, utilities, commuter pass and health and health insurance. You can live even more affordable outside the cities like Valletta and Sliema. The country is also a popular tourist destination.
Taiwan
The cost of living in Taiwan is very affordable for the most part. Taiwan offers a comfortable lifestyle and superior health care compared to more expensive cities like Hong Kong, Singapore and Australian cities like Brisbane and Adelaide. You can score valuable discounts by choosing the territory’s reliable public transportation and shared accommodation.
Ukraine
This Eastern European country ranks high in the number of people living and working from overseas due to its central location and affordable cost of living, from transportation to food. Boarding a Metro train in a city like Kiev costs as little as $0.16 while a taxi ride costs about $2. The exception to this rule is the relatively high cost of accommodation for foreigners and expatriates.
Philippines
The Philippines offers some of the most affordable accommodations in the South East Asia region. The cost of living here is also much lower compared to that of the neighboring countries like Thailand, which is more popular with foreigners. The transportation system in the country is convenient and organized. People moving into the country are also attracted by the beautiful beaches and diverse nature, flora, and fauna.
Colombia
Colombia offers breathtaking landscapes replete with a sea of mountains, rainforest and coffee plantations. The cost of living is very reasonable when you look at rental rates for a well-organized working-class neighborhood, food and everyday services like going to the movies, haircut, and massages. With a stipend of $1200 a month, you can live comfortably in the South American country.
Personal Finance Advisory Expert
Rusty Tweed is an LA-based financial advisor with many years of experience working on personal finance, real estate financing, and the equity markets. Tweed is the owner of TFS properties. Rusty Tweed is also the founder of Mold Zero, a mold elimination company with offices in Florida and Los Angeles.
His interest in real estate began in Toronto in the mid 80’s before moving to Los Angeles in 1987 where he built most of his fortune. Over the years, Tweed has brokered many properties, including single family residences and apartment complexes worth millions of dollars. For his education, Rusty Tweed studied Mechanical Engineering at the University of Waterloo in Canada.
