This video is dead on! I live in Texas, the wife and I sold our home in NJ, the taxes and insurance came to about 1200.00 a month. This is not including the mortgage that we still had. We sold the house in 2021, since then the taxes and home insurance has gone up 14%. We now rent a 1br for 1175.00. The decision was easy for us, I would have never seen this money anyway. We have lived here for three years and we have not had a rent increase since we renew every time before our lease ends. My wife is 50 and I’m 49, we both work in the same place. Together we make 80000.00, we have saved more since we sold the house than in the 24 years that we own. We are taking these next 5 years to continue to invest into our retirement, so far things are looking up. Lord willing 🙏🏼
So, if you would have stayed and paid off your home, the difference would be $25 bucks a month savings? $193 / month including the 14% increase? Worth it not to own?
Smart move. People don't understand that they are programmed to being ripped off. The US is printing money like crazy to service debt. The poor folks out there have to take a mortgage to feed the system. I figured it out long ago.
@michaellafrance6454 the money going to pay the principal and interest is now invested in their retirement tax free. They no longer have maintenance and repair costs. Their utilities are much lower with a 1 bdrm.
On many occasions, I've said that the American Dream is a "game" that 90% of people cannot win. If you can't win a game, it makes no sense to continue playing it. Having a different goal and a different strategy makes so much sense. You're thinking outside the box for a winnable solution. I like it!
I am a high school dropout.. trailer park trash.. my house is bought and paid for and my property I make over $100,000 a year.. all my cars are paid for.. zero death so what's your problem exactly??
It's important to remember that everything you own must be cared for, maintained, and often insured. What most of us do not consider when we're young is that the energy we have at age 70 will be at least half of the energy we had at age 35, and we may not have our health at age 70 like we did at 35. That lovely 4-bedroom 3-bath home you bought in your younger years will be a burden when you're 70 unless you get some outside help to keep it clean, repair it, and take care of the yards -- which is something not many can afford. My best advice is to purge unwanted stuff and DOWNSIZE in your late 50's before you're either too unhealthy or too old to do it, like we are now at age 70.
Not to mention, if you don't have the income level for a lot of paid help, it becomes a part or full time job AFTER you get home from work, and really not fun anymore. Who wants to spend all their free time doing maintenance / cleaning / repairs and upgrade projects on a home that is depreciating in real market value?
As a retired accountant of 31 years, I agree 100%. I retired earlier this year at 56 and contemplate downsizing from my house built in 2001 (5 br, 4.5 bath rancher on 3.5 acres) in the next 10 years or so possible sooner. In the past 4 years I replaced my roof, gutter & down spouts, driveway (340' long), water heater, well pump, and 1 of 3 HVAC zones, and renovated my kitchen. Fortunately, I budgeted for these repairs. I'm a single guy and cannot see myself taking care of my property when I'm over 65.
My home expenses in Cali. Home insurance-$6,014. Car insurance: $2234. Gas & electric utilities: $600 -$1200 per Month. (4300 sq ft house) Earthquake insurance. $300 per year. Property tax: $8000 per yr. Water: $200 mo. Umbrella insurance: $432 per yr. Solar-$400 per mo. (Yes, I have solar. It’s a ripoff) I’m selling my home asap. Proceeds will cover the cost of moving to a small town in Utah AND build a home in the Philippines and still have enough to retire with my savings. I already purchased land and secured the property with improvements.
I feel your pain Bruce. I recently sold my home in California for these exact same reasons and am now less than one month away from moving to the South of France.
@@JakeandJesset: Yes. I resided in California since 1960. This is the worst condition in this beautiful state in my lifetime. I have to weigh it in the balance and make practical decisions.
I guarantee your salary in that small town in Utah will not be the same. So its not just how much it cost its how much you make also. Just making an example of the two places is not comparing apples to apples. Good luck in the small town in Utah
I spent over 100k renting for years and never owned anything. Making other folk rich plus no control. Couldn’t grill at complex and really stretch out life. I have a house and build equity. Renting and subscribing is the trap
Or you can do the work yourself and it's job security, that's what I do. The liability of falling off a ladder or a roof is what keeps me up at night as insurance is terrible and expensive. As I get older I am really starting to consider health insurance.
very true, wether you own outright and or pay a mtg over time the key is to build Equity, Property taxes and Insurance will vary depending on location county, city or the state, you live in
I am in my early 60s and retired at 53. Lots of people gave me pushback because they had difficulty grasping the concept of not working if you don’t have to. I looked at my life as stages. I earned everything I have now through a lot of hard work, but I owe it to myself to “stop and smell the roses” in my final stage of life. In my case I left the country after I retired and live in Latin America. It allowed me to get away from all the negative things happening in America while appreciating my new environment. I have yet to meet anyone who regrets retirement.
Nice way to retire. For me, I believe retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My wife and I has spent same number of years in the civil service, she is investing through a wealth manager and myself through the 401k. We both still earning towards having our retirement.
This is true. I'm in my mid 40's now. My wife and I were following this same trajectory. Last two years, I pulled out my money and invested with her wealth manager. Not catching up with her profits over the years, but at least I earn more. I'm making money even before retiring, and my retirement fund has grown way more than it would have with just the 401(k). Haha.
It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $800,000 by investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
I've experimented with a few over the past years, but I've stuck with ‘’Marisa Michelle Litwinsky” for about two years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
A flailing U.S. economy and elevated global tensions reduce the likelihood of prolonged inflation or higher long-term Treasury yields. I've seen folks amass up to $1m amid crisis, and even pull it off easily in a favorable economy. Unequivocally, the bubble/collapse is getting somebody somewhere rich
I do not disagree, there are strategies that could be put in place for solid gains regardless of economy or markt condition, but such executions are usually carried out by investment experts or advisors with experience since the 08' crash
I agree. Exactly why I now work with one. A lot of folks downplay the role of advisors until being burnt by their emotions, no offense. I remember some years back, during the covid-outbreak, I needed a good boost to stay afloat, hence researched for advisors and thankfully came across one with grit. As of today, my cash reserve has yielded from $350k to nearly $1m
My CFA Annette Christine Conte a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market
This is a very important conversation. Too many people do all the "right" things just to find themselves struggling and alone in their later years. Such a shame.
I moved to Panamá 12 years ago. Right now I am traveling full time via house sitting, cruising and Airbnb hacks. I've socked away 10s of thousands of dollars but could still never afford the US esp if I need assistance. In panamá rent, healthcare, home care, 8n home care, etc are a fraction of that in the US. Life expectancy is much older as well. I can't see myself ever going back.
I considered Panama, but prefer a cooler northern climate, free of tropical diseases (dengue fever), flooding, hurricanes, and heatwaves. Most southern countries (in Asia, Latin America, Africa) have poor infrastructure.
Thanks for showing us other ways to spend final years without draining bank accounts. My grandmother refused to check herself into a $7,000/month place to wait to die. Especially after spending her entire adult life living frugally.
This video made me a subscriber- I am in my 40’s, completely disenchanted with my country and open to new plans for our future. Thanks so much for this content!
I watched in horror as my aging parents lost their life savings to home maintenance, real estate tax, and, ultimately, senior care expenses. Their house was paid off, but declining in value due to its condition and the surrounding neighborhood. I vowed not to fall into the same trap. The same American Dream "game" has traps for the winners as well, like RMD, IRMAA, inheritance taxes, and the Earned Income Penalty for anyone taking Social Security early, etc. It's smart to think about these things in your 50s.
We are retiring soon, and plan to sell our house and travel the world. The dream of owning your own home is definitely a trap. Here in Texas, we pay $350/mo on house insurance, $500/mo on property taxes, but fortunately we do not have a mortgage or state income taxes. Also, we feel that a house anchors you to one location. We are really looking forward to retirement slow traveling. We enjoy your videos.
This whole idea of “slow traveling “ is a terrible idea . You will get tired of that eventually . I would highly recommend taking a year to travel and see how you adjust before you sell all your shit and don’t have a home to comeback to. Every time I go on vacation by the third week I can’t wait to come home and be in my home and my sleep in my bed . I like the idea of having 3 homes in 3 different countries where I can travel depending on seasons and where I feel like being .
@@ianlloyd4301 Living as a slow travel nomad, isn't like going on a vacation. It's not a terrible idea at all, and clearly one you have no experience in. You might like the idea of having 3 homes, and we like the idea of having 50 of them, but the fact is, it's just not viable for most people, nor is it practical. The fact you can't wait to go home after 3 weeks is maybe a sign you are one of the many who are not suited for this type of life. Many dream of it, very few can execute it.
The most important thing that should be on everyone mind currently should be to invest in different sources of income that doesn't depend on the government. Especially with the current economic crisis around the word. This is still a good time to invest in various stocks, Gold, silver and digital currencies.
I agree with you and I believe that the secret to financial stability is having the right investment ideas to enable you earn more money, I don’t know who agrees with me but either way I recommend either real estate and stocks.
I’ve been diligently working, saving and contributing towards early retirement and financial freedom, but since covid outbreak, the economy so far has caused my portfolio to underperform, do I keep contributing to my 401k or look at alternative sectors to meet my goals?
@@rougeur I've always delegated my investment decisions to an advisor, since suffering major portfolio loss early 2020, amid covid outbreak. I'm now semi-retired and only work 7.5 hours a week, with barely 25% short of my $1m retirement goal after subsequent investments to date.
I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.
*Mr Gary Mason Brooks* a highly respected figure in his field. I suggest delving deeper into his credentials, as he possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
I retired in my 30’s! Thanks Uncle Sam! But I’m traveling to see which country I want to stay in. People don’t understand but hey I been working like a dog ever since I legally could. Sold all my stuff now just making memories and traveling. Glad y’all made it out!
I'm 34 yrs old. I've been fortunate enough to have a steady raise in my income since I graduated college. To the point where I know eventually homeownership will be a real option that I will have. I've already decided that I'd rather contribute more to my retirement and investment accounts than get stuck with a mortgage. Even in my high cost of living state Maryland, it is still significantly cheaper to rent than it is to own.
Totally agree with all you have shared. While my family and I have been working on homecare for my mom in NY, I realized that assisted living can cost at least $8,000. The only other option is that you become almost destitute to get medicaid and then you are forced into a shared room if your family can't care for you. And then the nursing home will takes ALL your SS in NY except $50 a month! As a single woman with no children I know that I will probably wind up in another country and I started exploring options though I am just 50s. Thanks for this honest discussion!
My wife and I are 1.5yrs out from getting out of the "American Dream". We wish it were sooner (counting the days!), but waiting on some passive income that will allow us to leave it all. We have also been downsizing and selling all the accumulation over the years, it is so freeing. Been watching you guys and all of your channels this past year and want to thank you for being a motivator for us and a future of spending money on experiences, not possesions. Go Seattle Mariners!
I was just on a live call asking if anyone knew about assisted living abroad and no one did. God is good! Led me to this post. I’m about to start some deep dive research into this. I can’t thank you guys enough for looking into this topic.
Unbelievable! You could literally pay for your kids to fly out and see you a couple of times a year and still save a ton of money!!! Not to mention the quality of life you would have. Great information guys, thank you!
What you're saying is very true. I was born and raised in Kenya. My parents built an English style stone Mason mansion in the late 50's. They owned the land and the home outright and never paid any taxes for the 50 years they lived there. They passed away while still living there I live in America but own homes in Kenya which is where I want to retire tax free.
That's the ideal to own property outside the US. Also just bought a studio apartment in Nairobi for investment. I live in Atlanta but do not plan to retire here. Hopefully I will have saved enough within the next decade to build my own house in Kenya. Congrats on the properties you already own in Kenya.
Good points. I retired this year at 55yo. We realized we could sell everything and slow travel cheaper than we can stay in our home in Florida. Our electric bill is $650 a month in the summer. Taxes and insurance is way up. It seems like something breaks every month.
Exactly! This is precisely why I have moved to Thailand at age 74! Had to have wheelchair assistance to get here, but I made it, just in time! And with the ease of condo life (so many necessities and services just an App click away -- so many amenities just an elevator ride away) I realize I could maintain a comfortable existence right here for quite awhile, before I was forced to move to a Assisted Living facility. People should open their eyes and minds to the "other paths" as you mentioned. And I couldn't agree more with the statement, "It's not that you HAVE to live in Thailand; it's that you GET to live in Thailand!" ✓❤
Im soooooo happy someone is talking about this! I sold my home due to a divorce in Los Angeles. I don't need the extra rooms. It's too big and now that I'm 54 yrs old and my son is 17 and graduating highschool next year, its too expensive to keep a home. Especially in Los Angeles where the property taxes are insane, with earthquake insurance, home owners insurance and HOA. I'm so happy I'm done with it. Even paying rent is still cheaper!
The problem is that in order to have "permanent roof" with amenities like electricity, gas and water, either the tenant or the owner must somehow pay insurance and property taxes. As a result, a lot of people live in tents, at least in California, where I presently dwell. Not a single mortgage, tax, rent, or insurance. It amazes me how many folks I meet who tell me they live in their cars. This place is insane!
It's becoming more and more insane by the day. Mortgage rates have been rising steadily (already over 7%). I often wonder if I should put my extra money into the stock market and wait for a housing crash, or if I should just buy a house regardless.
Such concerns also come to me. After 50, I'm retiring early. I'm already concerned about the direction the future is taking, particularly with regard to finances and making ends meet. I'm thinking about investing in the stock market for the first time as well, but how can I accomplish so considering that the market has been in disarray for much of the year?
For my part, I can relate to that. My benefits were clear when I started working with a fiduciary financial counsellor. I would always suggest seeking expert assistance in these situations so they can guide you through bumpy markets and simply provide you with indicators and tactics for knowing when to enter and exit the market.
My mom died of Alzheimer's. Sadly she was a wandering sundowner woman. She was KICKED OUT of 3 facilities ranging from 3,500-4,800 a month and they didn't really care for her at all. She was too difficult to deal with so they got rid of her.
This video made me cry because I'm solo and the thought of not having anyone to help when I get older is very scary. This is something I'd definitely be interested in pursuing when that time comes...
I, too, am solo. I understand your feelings. Even though I have family in another state, I seriously wonder if they would help out. This care facility sounds intriguing.
@@futaogwj there are several visa options for Thailand. It sounds like the place they are talking about will actually help facilitate your visa renewals...
This video is wonderful. About the viewers who are alone without children I would say……..try to connect with your niece. Usually a niece is someone. Who could help out later on in life if you also made some time when the niece was younger.
Probably because they spent didn't plan for future. I've learned not to try to keep up appearances by owning a house or car as opposed to financing both in an effort to keep up with the Jones.
I’ve owned homes both primary and investment for 30+ years. Hate it at this point. Renting sounds so hassle free to me. I’d so rather put my money in dividend stocks instead of real estate
It depends on where you live and your lifestyle imo. I chose a small home for retirement and a simple lifestyle, so my expenses are low (property tax is $1400 and car insurance is $700 yearly). I traveled extensively for 35 years, and now cherish staying at home. 😊 While my neighbors hire folks to do the yard, I mow the lawn, and tend to a garden I designed for birds and butterflies. Ya just couldn't pay me to deal with TSA, Customs, and rude flight attendants ever again. I'm thankful that I experienced world travel when people were treated kindly and with respect.
I am 48 years old and I don,t see a future here at all. Material things are made to fail and to the point where a lot of it is made so you can't fix it. Our food is so bad, most of it is not food it's something else. Medical is just way to much wrong to even type out. I feel so discouraged for for future generations, but I will keep pushing.
This sounds so great. We spend many months out of the year in Japan because our kids live there (we used to live there too) and while we love the country as you know the medical situation is a little problematic. I have an underlying health condition which requires visits to the ER a few times a year to get breathing treatments. Every time you talk about Thailand or Malaysia or Vietnam I'm reminded that not all Asian countries are difficult to access medical care. Just paid over $4,000 for our property tax bill, over $4,000 for home owners insurance and over $3,000 for car insurance. The money is just pouring out.
I live in Tampa, Florida. My homeowners insurance is $6.6k per year, property taxes are $6k per year, and car insurance is about $4.8k per year. It is ridiculous 😒
Home and car ownership didn't work for me. The money spent on taxes, insurance, maintenance, repair, etc...took every dollar I could have invested. I sold my home and car in 2015, been renting and using public transit ever since. My rent in Chicago is $1250 including utilities & internet, plus my landlord hasn't raised it since I came in 2017. I don't have the amenities or medical services you mentioned but my situation is pretty close. But Sunshine Tara looks really nice if Hua Hin is the place you want to be!
American dream will continue to be “a dream” First mortgages with rates of 8 to 9% and 9% to 10% were common when I bought my first house to live in, which was in Miami in the early 1990s. People will have to come to terms with the fact that we may never get back to 3%. Home prices will have to drop if sellers are forced to sell, and appraisals will drop as a result. I'm very certain that I'm not the only one thinking this.
How are you coping with the air pollution and very hot climate in Thailand? In February 2024, I couldn’t breathe due to either sugar cane burning or vehicle pollution and the heat was so extreme midday it sent me running for air conditioning in Chiang Mai by noon to prevent heat stress. It is a beautiful country with wonderful people but that experience was not pleasant. I agree with all of your comments regarding senior living facilities in the US having experienced it with my mother. I am searching for a country with a better balance of good healthcare, decent climate and senior living when I might need it. Thank you this content. I’m hoping you’ll do similar videos for other locations.
Try East Africa. I'd recommend a seaside town called Malindi in Kenya. It has a significant Italian immigrant population, as well as other expatriates.
You were there January - April, which is the burning season in Northern Thailand. If you go further south near the coast there is hardly any pollution.
Home ownership in the U.S. is very expensive. No income tax in TX, but our property taxes, homeowners insurance, flood insurance, auto insurance, utilities all cost a fortune. You're smart to find an alternative way to age.
My target retirement fund in my 401(k) had poor returns compared to the S&P 500. I switched everything to the S&P 500, but I regret not doing it earlier. What are the best options for investing $200k for reliable cash flow?
The key to big returns is not big moving stocks. It's managing risk in relationship to reward. Having the correct size on and turning your edge as many times as necessary to reach your goal. That holds true from long term investing to day trading.
Even with the right technique and assets some investors would still make more than others, as an investor, you should’ve known that by now, nothing beats experience and that’s final, personally I had to reach out to a market analyst for guidance which is how I was able to grow my account close to a million, withdraw my profit right before the correction and now I’m buying again
Credits goes to ‘’Aileen Gertrude Tippy’ one of the finest portfolio managers in the field. She's widely recognized; you should take a look at her work.
Home ownership has always been something that I've seen positively. It is set up so that you never really own your home. If you don't pay your property tax, you'll lose your home. I do have to say that at this tine I do own a home. I inherited my brother's when he passed on. I am thinking seriously about becoming an expatriot.
You have to pay taxes on everything! House, paycheck, business, land purchases, gains on your investments etc. That’s always been a thing. You can’t avoid taxes. No one is saying “I guess this paycheck is not mine because they took taxes out.” Yes it sucks, but you can’t completely avoid taxes.
Omg, I m so over homeownership, finally got my husband on board. Between the taxes, insurance, utilities and upkeep it’s ridiculous Youngest senior year. Drop her off and selling pronto. And I’m sick of the cold.
The important thing to know is that not owning a house doesn't get rid of the cost to own a home, it just gets rid of the direct cost to you. That cost will be passed along to those who rent, even if it doesn't seem like it. It's just bundled into that rent payment.😊 Even if you relocate to a different country its the same thing, but it may not be at the same level as yet. It will change over time. So you'll be able to run from it until there's nowhere left to run, or life catches up with you.
Then stay in your location and continue to live your life. Some of us are going to do the smart thing and make the change. Plus all the money you put in your home, I put in investments. We'll see how we are in 10 years.
Thanks for this very important conversation. I will retire in less than 5 years and already know I will have to leave the US to have the quality of life that I need. Good medical care, fresh foods, time spent outdoors, slower pace living, etc.
Yes Yes Yes! so very true!!! I turned 65 this past Nov. and I can't even retire because as I been going over my debt, and income 😢 I have so much money going out and not enough coming in, and physically I just can not add much more work on to what I'm already doing. And I have really realized about a year ago that we will never truly own our home out right, because we will always have to pay out money for high taxes, high homeowners insurance which they both keep going up, I had to change my car and homeowners insurance just today, because my homeowner insurance doubled 😡this is just not right.
Expat of several years here and leaving the US doesn’t solve all problems. There are other prices one pays for leaving “home”. Every situation has downsides and it’s not all paradise.
We were excited to pay our house off summer of 23, then we sat down and realized property tax, HOA and home owners insurance came to 800 a month. The HOA and property taxes have both almost doubled in five years. We are in Flowery Branch GA.
@benatural49 My car is paid off, and I can’t afford to own it! If there was public transportation in my area, I definitely wouldn’t own a car. Fuel, insurance, tires, maintenance. The costs of those expenses only go up. I’m retired, drive less than 8,000 miles per year, excellent driving record and no accidents. My full coverage car insurance went up by just over $500 for 2025. Why?! 😩😩
We had a house fire lost everything. I would never be under insured if I could help it. Everything was covered in our fire even though our house and cars were paid for. We pay a lot for insurance as well but being debt free helps. We own no payments to anyone, Interest eats all the money we could invest. I tell everyone I know to get out of debt. But Americans always spend more than they should because everyone here does it. My husband and I decided that was not for us so we got totally out of debt. Debt robs wealth because we can’t invest and pay interest too. The Jones have robbed a lot of ppl of their resources and greed for more hasn’t helped either. Don’t buy a house unless it’s the only debt you have. Get out of any kind of debt and start with a smaller home. Too many ppl want the bling right away and I believe that’s part of the reason why prices are so high because we as Americans won’t wait until we have the money to buy, we put EVERYTHING on credit. That’s the American way.
Hi:) thank you for making this video. Just this morning, I was getting depressed while thinking about how I would survive in retirement with prices going up like this. I own 1 bedroom condo in Miami and my monthly maintenance is 800 dollars. It is set to increase by 11% starting January, 2025. I am not even talking about special assessments, homeowners insurance and property taxes. I was going crazy trying to figure out how can I pay for all this in my retirement. Now, after watching your video, I have hope😅 Thank you so much
I tried both sides. I do regret not holding on to 2 of my rental properties to use as a source of passive income, or even as a asset to pull from. I plan to be around family. Most of my friends that moved abroad, moved back to be near their kids. My mother's friends are in their 70s and 80s and it was important for them to be near family because they wanted someone to check on them.
What an exciting idea. I'll be 82 on Jan 1 and this is still an intriging idea for my wife and I who are soley on social security and ebay hustling. If you can get your ducks in a row with other things, why not.
The Housing affordability crisis is a manufactured grift. With all this land and natural resources to build, it shouldn't be the case. The more you travel, the more obvious it becomes.
I am 31 and I have a unique situation. I am fully medically retired from the military and I have no children our partner I tried to do the corporate thing for two years and hated it. Now I'm taking my military check and moving abroad to South America by myself in February.
You end up paying more than the cost of your house to the mortgage lender due to interest. Even refinancing still means that you’re paying more. And once you add property tax, insurance, home improvement and repairs, utilities, selling it will at best net even but more likely be a net negative in most US housing markets.
I looked for assisted living facilities for my parents and a unit with no assistance is $2,500 in small town Texas. My mom would need assistance and just to give meds is several hundreds of more dollars Bottom line we can’t afford this is horrible in the US
My property taxes are now $900 a month... i have $800k in equity so I know once my kids are in college Ill be selling and moving the heck out of this country. 42... 6-8 more years... haha
That's too long a wait. Things are changing rapidly. Your expected return may never be the same. Pity you can't downsize now. The kids will be alright. Start taking care of your needs now. They may not be able to help you when the time comes. It's a rapidly changing world. We have to act accordingly. Good luck.
Sounds wonderful! My biggest issue is leaving my kids and fire grandkids when I get to this age. Basically dying alone without my loved ones at this point. Yes comfortable, and will have elderly community, but what about your family? Living near them at least
$200.00 a month in property taxes, lol, not in Washington were more than double that. A house is a good investment if you diy yourself (and you do your homework) and don't live in it. Otherwise it's somewhat of an expensive luxury.
Sold both my houses. Been living at parents house. Debated standing by to see what happens with the housing market. For now I am making ~$1,800/month in interest through HYSA. Considering just growing this and using interest money to offset the cost of rent. I have no desire to buy a house again
Our car and home insurance has been pretty constant. And in general, the only thing that seems to be up beyond the general rate of inflation is food. Property Tax increases here in California are regulated by Prop 13 so the bill cannot go up more than around 1% ish/year regardless of the increase in the market value of the home. We are looking at retiring in place which is what a lot of our neighbors have done.
Hallelujah 🙌🏻!!!!! The daily jesus devotional has been a huge part of my transformation, God is good 🙌🏻🙌🏻. I was owing a loan of $47,000 to the bank for my son's brain surgery, Now I'm no longer in debt after I invested $12,000 and got my payout of $270,500 every month…God bless Mrs Evelyn Vera 🇺🇸
This is a wonderful video and thank you for creating it! I am going to Sunshine International in Hua Hun in January to check it out for myself! When my Mom died recently, she was paying $5200 a month for assisted living! Crazy, right? It had started off costing $3100 a month and 9 years later it had gone up that much! Not for me, no thanks!
Property tax for our home in Dallas are $800/month. And we downsized to a smaller less expensive house 4 years ago when our daughter was in college. We used to pay $1,300/month. Just property tax.
I just lost my dad in May and my mom 8 years ago. Both times they were sent to a nursing home here in the US I had to get them out immediately for substandard care. From this experience I am looking at all options for myself when I am elderly as I never want to experience one of those places again.
It cost money to do anything. The quality of what you do and how you do it is definitely an individual choice. Growing up my family lived in rentals with shitty landlords, rules, everyone else’s smells and drama. Lived in my RV while building my home and that was not for us either. No feeling like walking into your home with pup and doing whatever you want! 😊
Your math is interesting. My wife and I are new quasi-empty nesters (we have a freshman in college). However, we've always managed to clean our own home among us...
Last year, I was working full time, budgeting groceries, unable to afford date nights, and missing time with my kids. Now I learned how to make money online. Now am a SAHM, homeschooling, and making profits every week.
Wow that's awesome investing in alternate income streams should be the top priority for everyone right now. especially given the global economic crisis we are currently experiencing. stocks, gold, silver, and virtual currencies are still attractive investments at the moment.
I thank God that I've inherited a mortgage free house. One day I will rent and then sell my condo. To buy something these days is insane! I'm also on my way to a 3rd career change (teaching in higher education) & owning my own business. Time for a softer life in my fifties & Building the Kingdom of God.
In Australia, a not for profit aged care facility for a relative. The refundable deposit for the room is 500k, and the monthly fee on top is $1600AUD. But it has everything and care for my relative with dementia so it's safe and doesn't look like a hospital. It looks like a hotel, the decor and the meals are like a restaurant.
If your income cannot support the property tax maintenance and insurance you cannot afford it esp if you need to rely on Airbnb. If long term rentals income cannot even support it it's too expensive get rid of it
We’ll be selling our (expensive) house and plan to travel for a few years, but currently plan to settle in the US in a more affordable area. I love to travel, but I’m a home body at heart. 😊
Don't simply retire from something; have something to retire to. Start saving, keep saving, and stick to investments. Everyone should have BTC in their portfolio
It’s really heartbreaking to see how inflation and recession impact low-income families. The cost of living keeps rising, and many struggle just to meet basic needs, let alone save or invest. It’s a reminder of the importance of finding ways to create financial opportunities. You've helped me a lot sir Brian! Imagine i invested $50,000 and received $190,500 after 14 days
This video is dead on!
I live in Texas, the wife and I sold our home in NJ, the taxes and insurance came to about 1200.00 a month. This is not including the mortgage that we still had.
We sold the house in 2021, since then the taxes and home insurance has gone up 14%.
We now rent a 1br for 1175.00. The decision was easy for us, I would have never seen this money anyway. We have lived here for three years and we have not had a rent increase since we renew every time before our lease ends.
My wife is 50 and I’m 49, we both work in the same place. Together we make 80000.00, we have saved more since we sold the house than in the 24 years that we own. We are taking these next 5 years to continue to invest into our retirement, so far things are looking up.
Lord willing 🙏🏼
So, if you would have stayed and paid off your home, the difference would be $25 bucks a month savings? $193 / month including the 14% increase? Worth it not to own?
Smart move. People don't understand that they are programmed to being ripped off. The US is printing money like crazy to service debt. The poor folks out there have to take a mortgage to feed the system. I figured it out long ago.
@michaellafrance6454 the money going to pay the principal and interest is now invested in their retirement tax free. They no longer have maintenance and repair costs. Their utilities are much lower with a 1 bdrm.
Retiring at 55?
@@michaellafrance6454well there’s maintenance, utilities, property taxes, insurance on top of that
On many occasions, I've said that the American Dream is a "game" that 90% of people cannot win. If you can't win a game, it makes no sense to continue playing it. Having a different goal and a different strategy makes so much sense. You're thinking outside the box for a winnable solution. I like it!
I am a high school dropout.. trailer park trash.. my house is bought and paid for and my property I make over $100,000 a year.. all my cars are paid for.. zero death so what's your problem exactly??
It's important to remember that everything you own must be cared for, maintained, and often insured. What most of us do not consider when we're young is that the energy we have at age 70 will be at least half of the energy we had at age 35, and we may not have our health at age 70 like we did at 35. That lovely 4-bedroom 3-bath home you bought in your younger years will be a burden when you're 70 unless you get some outside help to keep it clean, repair it, and take care of the yards -- which is something not many can afford. My best advice is to purge unwanted stuff and DOWNSIZE in your late 50's before you're either too unhealthy or too old to do it, like we are now at age 70.
Omg Best advice ever ....I am purging many things, and not buying much
Very good advise.
Not to mention, if you don't have the income level for a lot of paid help, it becomes a part or full time job AFTER you get home from work, and really not fun anymore. Who wants to spend all their free time doing maintenance / cleaning / repairs and upgrade projects on a home that is depreciating in real market value?
As a retired accountant of 31 years, I agree 100%. I retired earlier this year at 56 and contemplate downsizing from my house built in 2001 (5 br, 4.5 bath rancher on 3.5 acres) in the next 10 years or so possible sooner. In the past 4 years I replaced my roof, gutter & down spouts, driveway (340' long), water heater, well pump, and 1 of 3 HVAC zones, and renovated my kitchen. Fortunately, I budgeted for these repairs. I'm a single guy and cannot see myself taking care of my property when I'm over 65.
My home expenses in Cali.
Home insurance-$6,014.
Car insurance: $2234.
Gas & electric utilities: $600 -$1200 per Month. (4300 sq ft house) Earthquake insurance. $300 per year. Property tax: $8000 per yr.
Water: $200 mo.
Umbrella insurance: $432 per yr.
Solar-$400 per mo. (Yes, I have solar. It’s a ripoff)
I’m selling my home asap. Proceeds will cover the cost of moving to a small town in Utah AND build a home in the Philippines and still have enough to retire with my savings. I already purchased land and secured the property with improvements.
Great move!!! Happy for you. Good luck in your new life journey ❤️
I feel your pain Bruce. I recently sold my home in California for these exact same reasons and am now less than one month away from moving to the South of France.
Bruce my wife and I have a similar plan. Leaving Cali to have a tiny home in a tax friendly state and a normal size home in the PH 🤙🏻
@@JakeandJesset: Yes. I resided in California since 1960. This is the worst condition in this beautiful state in my lifetime. I have to weigh it in the balance and make practical decisions.
I guarantee your salary in that small town in Utah will not be the same. So its not just how much it cost its how much you make also. Just making an example of the two places is not comparing apples to apples. Good luck in the small town in Utah
The ownership trap is a stretch.
Whether you own, rent, lease or otherwise you will have to pay for services one way or the other.
renters don't pay the sunk costs in the 1st year of owning ( that's like one year rent? ) - and moving is basically cost free
I spent over 100k renting for years and never owned anything. Making other folk rich plus no control. Couldn’t grill at complex and really stretch out life. I have a house and build equity. Renting and subscribing is the trap
@@chrischreative2245 - 4.73% annualized will double the money in 15 years - bluechip index will likely give you more than that for example
Or you can do the work yourself and it's job security, that's what I do. The liability of falling off a ladder or a roof is what keeps me up at night as insurance is terrible and expensive. As I get older I am really starting to consider health insurance.
very true, wether you own outright and or pay a mtg over time the key is to build Equity, Property taxes and Insurance will vary depending on location county, city or the state, you live in
I am in my early 60s and retired at 53. Lots of people gave me pushback because they had difficulty grasping the concept of not working if you don’t have to. I looked at my life as stages. I earned everything I have now through a lot of hard work, but I owe it to myself to “stop and smell the roses” in my final stage of life. In my case I left the country after I retired and live in Latin America. It allowed me to get away from all the negative things happening in America while appreciating my new environment. I have yet to meet anyone who regrets retirement.
Nice way to retire. For me, I believe retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My wife and I has spent same number of years in the civil service, she is investing through a wealth manager and myself through the 401k. We both still earning towards having our retirement.
This is true. I'm in my mid 40's now. My wife and I were following this same trajectory. Last two years, I pulled out my money and invested with her wealth manager. Not catching up with her profits over the years, but at least I earn more. I'm making money even before retiring, and my retirement fund has grown way more than it would have with just the 401(k). Haha.
It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $800,000 by investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
I've experimented with a few over the past years, but I've stuck with ‘’Marisa Michelle Litwinsky” for about two years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
As long as you're paying a mortgage, you don't even own the door of that house.
Haha, I used to say I owned 25% of my two-car driveway and Wells Fargo owned the rest while I paid interest on the principal.
same with rent
@cheesun124 but you're not under the impression it's yours.
@@guillermogouldburn763 👏👏👏
And even if you own it, if you cant pay property taxes, you’ll end up with a lien. Our property taxes alone are $600/month.
Americans are facing a tough time with their finances, especially concerning housing affordability and retirement savings.
I'm getting worried about the rising housing prices. It seems like it's becoming harder to afford a home these days.
You're speaking from experience?
Appreciate the tip! I looked up his name on Google, and his website popped up instantly. It seems promising. Just dropped him an email.
It's really wise to have professional guidance
I just Googled his name and found his site top searched. I'm really impressed with his credentials.
I have emailed him, hopefully he responds soon.
A flailing U.S. economy and elevated global tensions reduce the likelihood of prolonged inflation or higher long-term Treasury yields. I've seen folks amass up to $1m amid crisis, and even pull it off easily in a favorable economy. Unequivocally, the bubble/collapse is getting somebody somewhere rich
I do not disagree, there are strategies that could be put in place for solid gains regardless of economy or markt condition, but such executions are usually carried out by investment experts or advisors with experience since the 08' crash
I agree. Exactly why I now work with one. A lot of folks downplay the role of advisors until being burnt by their emotions, no offense. I remember some years back, during the covid-outbreak, I needed a good boost to stay afloat, hence researched for advisors and thankfully came across one with grit. As of today, my cash reserve has yielded from $350k to nearly $1m
@@jerrycampbell-ut9yf Hope you don't mind if I ask you to recommend this particular professional you use their service?
impressive gains! how can I get your advisor please, if you dont mind me asking? I could really use a help as of now
My CFA Annette Christine Conte a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market
This is a very important conversation. Too many people do all the "right" things just to find themselves struggling and alone in their later years. Such a shame.
I moved to Panamá 12 years ago. Right now I am traveling full time via house sitting, cruising and Airbnb hacks. I've socked away 10s of thousands of dollars but could still never afford the US esp if I need assistance. In panamá rent, healthcare, home care, 8n home care, etc are a fraction of that in the US. Life expectancy is much older as well. I can't see myself ever going back.
Where in Panama? I was in Panama in the ‘70s in the military. Loved it.
My uncle lives in Panama he was in the military as well
I considered Panama, but prefer a cooler northern climate, free of tropical diseases (dengue fever), flooding, hurricanes, and heatwaves. Most southern countries (in Asia, Latin America, Africa) have poor infrastructure.
And the food has too.many harmful quemicals approved by corrupt FDA
Right behind you 🇵🇦
We really don't own anything. Renting is all we're doing in reality
yep
Thanks for showing us other ways to spend final years without draining bank accounts. My grandmother refused to check herself into a $7,000/month place to wait to die. Especially after spending her entire adult life living frugally.
This video made me a subscriber- I am in my 40’s, completely disenchanted with my country and open to new plans for our future. Thanks so much for this content!
I watched in horror as my aging parents lost their life savings to home maintenance, real estate tax, and, ultimately, senior care expenses. Their house was paid off, but declining in value due to its condition and the surrounding neighborhood. I vowed not to fall into the same trap. The same American Dream "game" has traps for the winners as well, like RMD, IRMAA, inheritance taxes, and the Earned Income Penalty for anyone taking Social Security early, etc. It's smart to think about these things in your 50s.
It's a shame the way that money is stolen from the hard working.
We are retiring soon, and plan to sell our house and travel the world. The dream of owning your own home is definitely a trap. Here in Texas, we pay $350/mo on house insurance, $500/mo on property taxes, but fortunately we do not have a mortgage or state income taxes. Also, we feel that a house anchors you to one location. We are really looking forward to retirement slow traveling. We enjoy your videos.
Fellow Texans, we’ll also do the same.
@@t.q.6639lol same here. Just retired.
You will enjoy it. We did the same and have been travelling full time for a while now. It's liberating not being tied down to "things" anymore.
This whole idea of “slow traveling “ is a terrible idea . You will get tired of that eventually . I would highly recommend taking a year to travel and see how you adjust before you sell all your shit and don’t have a home to comeback to. Every time I go on vacation by the third week I can’t wait to come home and be in my home and my sleep in my bed . I like the idea of having 3 homes in 3 different countries where I can travel depending on seasons and where I feel like being .
@@ianlloyd4301 Living as a slow travel nomad, isn't like going on a vacation. It's not a terrible idea at all, and clearly one you have no experience in. You might like the idea of having 3 homes, and we like the idea of having 50 of them, but the fact is, it's just not viable for most people, nor is it practical. The fact you can't wait to go home after 3 weeks is maybe a sign you are one of the many who are not suited for this type of life. Many dream of it, very few can execute it.
The most important thing that should be on everyone mind currently should be to invest in different sources of income that doesn't depend on the government. Especially with the current economic crisis around the word. This is still a good time to invest in various stocks, Gold, silver and digital currencies.
I agree with you and I believe that the secret to financial stability is having the right investment ideas to enable you earn more money, I don’t know who agrees with me but either way I recommend either real estate and stocks.
I’ve been diligently working, saving and contributing towards early retirement and financial freedom, but since covid outbreak, the economy so far has caused my portfolio to underperform, do I keep contributing to my 401k or look at alternative sectors to meet my goals?
@@rougeur I've always delegated my investment decisions to an advisor, since suffering major portfolio loss early 2020, amid covid outbreak. I'm now semi-retired and only work 7.5 hours a week, with barely 25% short of my $1m retirement goal after subsequent investments to date.
I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.
*Mr Gary Mason Brooks* a highly respected figure in his field. I suggest delving deeper into his credentials, as he possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
I retired in my 30’s! Thanks Uncle Sam! But I’m traveling to see which country I want to stay in. People don’t understand but hey I been working like a dog ever since I legally could. Sold all my stuff now just making memories and traveling. Glad y’all made it out!
Care to tell how you were able to retire in your 30s?
@ military retirement.
TRUTH.. THANK YOU! I am 63 and I have no intention of buying a home or condo! I am renting and don’t worry about anything!
I'm 34 yrs old. I've been fortunate enough to have a steady raise in my income since I graduated college. To the point where I know eventually homeownership will be a real option that I will have. I've already decided that I'd rather contribute more to my retirement and investment accounts than get stuck with a mortgage. Even in my high cost of living state Maryland, it is still significantly cheaper to rent than it is to own.
Totally agree with all you have shared. While my family and I have been working on homecare for my mom in NY, I realized that assisted living can cost at least $8,000. The only other option is that you become almost destitute to get medicaid and then you are forced into a shared room if your family can't care for you. And then the nursing home will takes ALL your SS in NY except $50 a month! As a single woman with no children I know that I will probably wind up in another country and I started exploring options though I am just 50s. Thanks for this honest discussion!
Thailand has some good affordable assisted living facilities.
My wife and I are 1.5yrs out from getting out of the "American Dream". We wish it were sooner (counting the days!), but waiting on some passive income that will allow us to leave it all. We have also been downsizing and selling all the accumulation over the years, it is so freeing. Been watching you guys and all of your channels this past year and want to thank you for being a motivator for us and a future of spending money on experiences, not possesions. Go Seattle Mariners!
I was just on a live call asking if anyone knew about assisted living abroad and no one did. God is good! Led me to this post. I’m about to start some deep dive research into this. I can’t thank you guys enough for looking into this topic.
@@traceylankford8579 Please check out places in Thailand. Some UA-camrs have showed some places in Chiagmai, Thailand.
You will find assisted living homes in Mexico in places where a lot of US expat retirees live.
Unbelievable! You could literally pay for your kids to fly out and see you a couple of times a year and still save a ton of money!!! Not to mention the quality of life you would have. Great information guys, thank you!
What you're saying is very true.
I was born and raised in Kenya. My parents built an English style stone Mason mansion in the late 50's. They owned the land and the home outright and never paid any taxes for the 50 years they lived there. They passed away while still living there I live in America but own homes in Kenya which is where I want to retire tax free.
That's the ideal to own property outside the US. Also just bought a studio apartment in Nairobi for investment. I live in Atlanta but do not plan to retire here. Hopefully I will have saved enough within the next decade to build my own house in Kenya. Congrats on the properties you already own in Kenya.
Good points. I retired this year at 55yo. We realized we could sell everything and slow travel cheaper than we can stay in our home in Florida. Our electric bill is $650 a month in the summer. Taxes and insurance is way up. It seems like something breaks every month.
Exactly! This is precisely why I have moved to Thailand at age 74! Had to have wheelchair assistance to get here, but I made it, just in time!
And with the ease of condo life (so many necessities and services just an App click away -- so many amenities just an elevator ride away) I realize I could maintain a comfortable existence right here for quite awhile, before I was forced to move to a Assisted Living facility.
People should open their eyes and minds to the "other paths" as you mentioned.
And I couldn't agree more with the statement, "It's not that you HAVE to live in Thailand; it's that you GET to live in Thailand!" ✓❤
Are you in assisted living in the US now?
Im soooooo happy someone is talking about this! I sold my home due to a divorce in Los Angeles. I don't need the extra rooms. It's too big and now that I'm 54 yrs old and my son is 17 and graduating highschool next year, its too expensive to keep a home. Especially in Los Angeles where the property taxes are insane, with earthquake insurance, home owners insurance and HOA. I'm so happy I'm done with it. Even paying rent is still cheaper!
Let’s see what your rent will be when you’re 80 years old.
The problem is that in order to have "permanent roof" with amenities like electricity, gas and water, either the tenant or the owner must somehow pay insurance and property taxes. As a result, a lot of people live in tents, at least in California, where I presently dwell. Not a single mortgage, tax, rent, or insurance. It amazes me how many folks I meet who tell me they live in their cars. This place is insane!
It's becoming more and more insane by the day. Mortgage rates have been rising steadily (already over 7%). I often wonder if I should put my extra money into the stock market and wait for a housing crash, or if I should just buy a house regardless.
Such concerns also come to me. After 50, I'm retiring early. I'm already concerned about the direction the future is taking, particularly with regard to finances and making ends meet. I'm thinking about investing in the stock market for the first time as well, but how can I accomplish so considering that the market has been in disarray for much of the year?
For my part, I can relate to that. My benefits were clear when I started working with a fiduciary financial counsellor. I would always suggest seeking expert assistance in these situations so they can guide you through bumpy markets and simply provide you with indicators and tactics for knowing when to enter and exit the market.
That's really interesting. My portfolio is getting smaller; how can I get in touch with your asset-coach?
Her name is “Melissa Terri Swayne” can't divulge much. Most likely, the internet should have her basic info, you can research if you like
My mom died of Alzheimer's. Sadly she was a wandering sundowner woman. She was KICKED OUT of 3 facilities ranging from 3,500-4,800 a month and they didn't really care for her at all. She was too difficult to deal with so they got rid of her.
They were not able to provide the care she needed is more like it. Sounds like she was a 1:1 care.
This video made me cry because I'm solo and the thought of not having anyone to help when I get older is very scary. This is something I'd definitely be interested in pursuing when that time comes...
I, too, am solo. I understand your feelings. Even though I have family in another state, I seriously wonder if they would help out. This care facility sounds intriguing.
What about visa?
@@futaogwj there are several visa options for Thailand. It sounds like the place they are talking about will actually help facilitate your visa renewals...
This video is wonderful. About the viewers who are alone without children I would say……..try to connect with your niece. Usually a niece is someone. Who could help out later on in life if you also made some time when the niece was younger.
I'm solo as well. But I know I will be moving out US in a years. It's impossible to retire here or survive .
Almost every single person I know over 70 is working because we can’t afford to not work
Probably because they spent didn't plan for future. I've learned not to try to keep up appearances by owning a house or car as opposed to financing both in an effort to keep up with the Jones.
Yep. People like to judge but it's reality.
@zezeebetaa Every single person I know over 70 is retire---happily. Guess it depends on who you know.
Yep, not everyone had a high paying job when they were younger
I’ve owned homes both primary and investment for 30+ years. Hate it at this point. Renting sounds so hassle free to me. I’d so rather put my money in dividend stocks instead of real estate
My HOA is $7 a month. No pool, no management company. Just a collection of people like it should be.
It depends on where you live and your lifestyle imo. I chose a small home for retirement and a simple lifestyle, so my expenses are low (property tax is $1400 and car insurance is $700 yearly). I traveled extensively for 35 years, and now cherish staying at home. 😊 While my neighbors hire folks to do the yard, I mow the lawn, and tend to a garden I designed for birds and butterflies. Ya just couldn't pay me to deal with TSA, Customs, and rude flight attendants ever again. I'm thankful that I experienced world travel when people were treated kindly and with respect.
So true
I am 48 years old and I don,t see a future here at all. Material things are made to fail and to the point where a lot of it is made so you can't fix it. Our food is so bad, most of it is not food it's something else. Medical is just way to much wrong to even type out. I feel so discouraged for for future generations, but I will keep pushing.
This sounds so great. We spend many months out of the year in Japan because our kids live there (we used to live there too) and while we love the country as you know the medical situation is a little problematic. I have an underlying health condition which requires visits to the ER a few times a year to get breathing treatments. Every time you talk about Thailand or Malaysia or Vietnam I'm reminded that not all Asian countries are difficult to access medical care. Just paid over $4,000 for our property tax bill, over $4,000 for home owners insurance and over $3,000 for car insurance. The money is just pouring out.
I live in Tampa, Florida. My homeowners insurance is $6.6k per year, property taxes are $6k per year, and car insurance is about $4.8k per year. It is ridiculous 😒
Home and car ownership didn't work for me. The money spent on taxes, insurance, maintenance, repair, etc...took every dollar I could have invested. I sold my home and car in 2015, been renting and using public transit ever since. My rent in Chicago is $1250 including utilities & internet, plus my landlord hasn't raised it since I came in 2017. I don't have the amenities or medical services you mentioned but my situation is pretty close. But Sunshine Tara looks really nice if Hua Hin is the place you want to be!
It should crime when realtors tell your mortgage won’t go up without mentioning property taxes and insurance to first time buyers.
American dream will continue to be “a dream” First mortgages with rates of 8 to 9% and 9% to 10% were common when I bought my first house to live in, which was in Miami in the early 1990s. People will have to come to terms with the fact that we may never get back to 3%. Home prices will have to drop if sellers are forced to sell, and appraisals will drop as a result. I'm very certain that I'm not the only one thinking this.
How are you coping with the air pollution and very hot climate in Thailand? In February 2024, I couldn’t breathe due to either sugar cane burning or vehicle pollution and the heat was so extreme midday it sent me running for air conditioning in Chiang Mai by noon to prevent heat stress. It is a beautiful country with wonderful people but that experience was not pleasant. I agree with all of your comments regarding senior living facilities in the US having experienced it with my mother. I am searching for a country with a better balance of good healthcare, decent climate and senior living when I might need it. Thank you this content. I’m hoping you’ll do similar videos for other locations.
Try East Africa. I'd recommend a seaside town called Malindi in Kenya. It has a significant Italian immigrant population, as well as other expatriates.
You were there January - April, which is the burning season in Northern Thailand. If you go further south near the coast there is hardly any pollution.
Years ago I looked at assisted living with my aunt. Not only was the a very long wait list everywhere we went. But the cost was very high.
Home ownership in the U.S. is very expensive. No income tax in TX, but our property taxes, homeowners insurance, flood insurance, auto insurance, utilities all cost a fortune. You're smart to find an alternative way to age.
My target retirement fund in my 401(k) had poor returns compared to the S&P 500. I switched everything to the S&P 500, but I regret not doing it earlier. What are the best options for investing $200k for reliable cash flow?
The key to big returns is not big moving stocks. It's managing risk in relationship to reward. Having the correct size on and turning your edge as many times as necessary to reach your goal. That holds true from long term investing to day trading.
Even with the right technique and assets some investors would still make more than others, as an investor, you should’ve known that by now, nothing beats experience and that’s final, personally I had to reach out to a market analyst for guidance which is how I was able to grow my account close to a million, withdraw my profit right before the correction and now I’m buying again
impressive gains! how can I get your advisor please, if you dont mind me asking? I could really use a help as of now
Credits goes to ‘’Aileen Gertrude Tippy’ one of the finest portfolio managers in the field. She's widely recognized; you should take a look at her work.
Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.
Home ownership has always been something that I've seen positively. It is set up so that you never really own your home. If you don't pay your property tax, you'll lose your home. I do have to say that at this tine I do own a home. I inherited my brother's when he passed on. I am thinking seriously about becoming an expatriot.
Property tax just proves no one really owns their homes if it can be taken from you if you don't pay the tax.
You have to pay taxes on everything! House, paycheck, business, land purchases, gains on your investments etc.
That’s always been a thing. You can’t avoid taxes. No one is saying “I guess this paycheck is not mine because they took taxes out.”
Yes it sucks, but you can’t completely avoid taxes.
Forget about the taxes. Most will be 💀 way before they pay off the mortgage. 🤓
@KFontLab
Exactly 💯! They make no sense.
It's the mortgage most will never pay off that should be their concern. 🤓
Omg, I m so over homeownership, finally got my husband on board. Between the taxes, insurance, utilities and upkeep it’s ridiculous Youngest senior year. Drop her off and selling pronto. And I’m sick of the cold.
Well said
🎉🎉🎉🎉🎉🎉 congrats🎉🎉🎉🎉 Im sick of this cold too😂
The important thing to know is that not owning a house doesn't get rid of the cost to own a home, it just gets rid of the direct cost to you. That cost will be passed along to those who rent, even if it doesn't seem like it. It's just bundled into that rent payment.😊
Even if you relocate to a different country its the same thing, but it may not be at the same level as yet. It will change over time. So you'll be able to run from it until there's nowhere left to run, or life catches up with you.
Then stay in your location and continue to live your life. Some of us are going to do the smart thing and make the change. Plus all the money you put in your home, I put in investments. We'll see how we are in 10 years.
"So you'll be able to run from it until there's nowhere left to run, or life catches up with you" - hopefully I'll be dead by then!😊
Thanks for this very important conversation. I will retire in less than 5 years and already know I will have to leave the US to have the quality of life that I need. Good medical care, fresh foods, time spent outdoors, slower pace living, etc.
Thank you!
Property tax is crazy in the US not to mention other bills which can easily cover all expenses of living in cheaper countries.
Home of the "wage" Slave and land of the "hidden" Fee.
The title alone got my like. Keep up the good work. It's a trap.
Yes Yes Yes! so very true!!! I turned 65 this past Nov. and I can't even retire because as I been going over my debt, and income 😢 I have so much money going out and not enough coming in, and physically I just can not add much more work on to what I'm already doing. And I have really realized about a year ago that we will never truly own our home out right, because we will always have to pay out money for high taxes, high homeowners insurance which they both keep going up, I had to change my car and homeowners insurance just today, because my homeowner insurance doubled 😡this is just not right.
Property tax $500/mo, Insurance $300/mo, HOA $500 year.. This is not including the mortgage and all the other shyt!
I need shelter but affordability is insane for the next generation. i have no desire to live in america full time in retirement
Expat of several years here and leaving the US doesn’t solve all problems. There are other prices one pays for leaving “home”. Every situation has downsides and it’s not all paradise.
Care to explain some?
@@yophilli Leave and find out, stop trying to live through UA-cam hype.
We were excited to pay our house off summer of 23, then we sat down and realized property tax, HOA and home owners insurance came to 800 a month. The HOA and property taxes have both almost doubled in five years. We are in Flowery Branch GA.
This just made me think about owning my car meaning paid off.. car insurance, license, tag renewal, emissions…🙄
@benatural49 My car is paid off, and I can’t afford to own it! If there was public transportation in my area, I definitely wouldn’t own a car.
Fuel, insurance, tires, maintenance. The costs of those expenses only go up. I’m retired, drive less than 8,000 miles per year, excellent driving record and no accidents. My full coverage car insurance went up by just over $500 for 2025. Why?! 😩😩
@@PinkieSmith Once I pay off a car, I drop full coverage. If you're a good driver then you should be fine with just liability.
We had a house fire lost everything. I would never be under insured if I could help it. Everything was covered in our fire even though our house and cars were paid for. We pay a lot for insurance as well but being debt free helps. We own no payments to anyone, Interest eats all the money we could invest. I tell everyone I know to get out of debt. But Americans always spend more than they should because everyone here does it. My husband and I decided that was not for us so we got totally out of debt. Debt robs wealth because we can’t invest and pay interest too. The Jones have robbed a lot of ppl of their resources and greed for more hasn’t helped either. Don’t buy a house unless it’s the only debt you have. Get out of any kind of debt and start with a smaller home. Too many ppl want the bling right away and I believe that’s part of the reason why prices are so high because we as Americans won’t wait until we have the money to buy, we put EVERYTHING on credit. That’s the American way.
Hi:) thank you for making this video. Just this morning, I was getting depressed while thinking about how I would survive in retirement with prices going up like this. I own 1 bedroom condo in Miami and my monthly maintenance is 800 dollars. It is set to increase by 11% starting January, 2025. I am not even talking about special assessments, homeowners insurance and property taxes. I was going crazy trying to figure out how can I pay for all this in my retirement. Now, after watching your video, I have hope😅 Thank you so much
I tried both sides. I do regret not holding on to 2 of my rental properties to use as a source of passive income, or even as a asset to pull from. I plan to be around family. Most of my friends that moved abroad, moved back to be near their kids. My mother's friends are in their 70s and 80s and it was important for them to be near family because they wanted someone to check on them.
Great points
What an exciting idea. I'll be 82 on Jan 1 and this is still an intriging idea for my wife and I who are soley on social security and ebay hustling. If you can get your ducks in a row with other things, why not.
The Housing affordability crisis is a manufactured grift. With all this land and natural resources to build, it shouldn't be the case. The more you travel, the more obvious it becomes.
I'm a nurse currently working in the Healthcare field. I totally agree with you. Looking forward to visiting Thialand very soon!
Thanks as always for sharing multiple good paths to go forward. Robert in NYC.
I am 31 and I have a unique situation. I am fully medically retired from the military and I have no children our partner I tried to do the corporate thing for two years and hated it. Now I'm taking my military check and moving abroad to South America by myself in February.
Congratulations
Wonderful 🎉
I pay property tax/ utility bills/home insurance/and home repair bills each month but it is still lower than rent in my area.
you are also managing/maintaining it and responsible special assessments - renters don't
You end up paying more than the cost of your house to the mortgage lender due to interest. Even refinancing still means that you’re paying more. And once you add property tax, insurance, home improvement and repairs, utilities, selling it will at best net even but more likely be a net negative in most US housing markets.
I looked for assisted living facilities for my parents and a unit with no assistance is $2,500 in small town Texas. My mom would need assistance and just to give meds is several hundreds of more dollars
Bottom line we can’t afford this is horrible in the US
We are slowly transitioning to the Philippines. Rent here, live there . Selling our home to reduce our burden. Especially here in California 😫
For years I've thought that home ownership was a rip off. My HOA right now is $481 and might go up next year. It's crazy.
My property taxes are now $900 a month... i have $800k in equity so I know once my kids are in college Ill be selling and moving the heck out of this country. 42... 6-8 more years... haha
That's too long a wait. Things are changing rapidly. Your expected return may never be the same. Pity you can't downsize now. The kids will be alright. Start taking care of your needs now. They may not be able to help you when the time comes. It's a rapidly changing world. We have to act accordingly. Good luck.
@@jenniferjemison636So true 😢
Sounds wonderful! My biggest issue is leaving my kids and fire grandkids when I get to this age. Basically dying alone without my loved ones at this point. Yes comfortable, and will have elderly community, but what about your family? Living near them at least
We came in the world alone and more likely will go out alone.
$200.00 a month in property taxes, lol, not in Washington were more than double that.
A house is a good investment if you diy yourself (and you do your homework) and don't live in it. Otherwise it's somewhat of an expensive luxury.
Sold both my houses. Been living at parents house. Debated standing by to see what happens with the housing market.
For now I am making ~$1,800/month in interest through HYSA. Considering just growing this and using interest money to offset the cost of rent.
I have no desire to buy a house again
Our car and home insurance has been pretty constant. And in general, the only thing that seems to be up beyond the general rate of inflation is food. Property Tax increases here in California are regulated by Prop 13 so the bill cannot go up more than around 1% ish/year regardless of the increase in the market value of the home. We are looking at retiring in place which is what a lot of our neighbors have done.
Hallelujah 🙌🏻!!!!! The daily jesus devotional has been a huge part of my transformation, God is good 🙌🏻🙌🏻. I was owing a loan of $47,000 to the bank for my son's brain surgery, Now I'm no longer in debt after I invested $12,000 and got my payout of $270,500 every month…God bless Mrs Evelyn Vera 🇺🇸
Hello!! how do you make such monthly, I’m a born Christian and sometimes I feel so down 🤦♂️of myself because of low finance but I still believe God🙏.
She's a licensed broker here in the states🇺🇸 and finance advisor.
Thanks to my co-worker (Carson) who suggested Ms Evelyn Vera
After I raised up to 525k trading with her I bought a new House and a car here in the states🇺🇸🇺🇸 also paid for my son's surgery….Glory to God, shalom.
Can I also do it??? My life is facing lots of challenges lately.
This is a wonderful video and thank you for creating it! I am going to Sunshine International in Hua Hun in January to check it out for myself! When my Mom died recently, she was paying $5200 a month for assisted living! Crazy, right? It had started off costing $3100 a month and 9 years later it had gone up that much! Not for me, no thanks!
Seriously, where does all the money go that we’re paying for life in America? It’s absolutely outrageous!!!
Israel and Ukraine 😏
@@derwinmitchell9947And where was the money going before that? 🙄
@@derwinmitchell9947and now I heard somewhere in Africa
@@TravelMom_5127Iraq Afghanistan
@@TravelMom_5127US has always given crap ton of money to random countries. Make of it what you will.
This is not a good solution for those of us who hate warm weather. I'd rather stay in the US north of the 43rd parallel, even if it's more expensive.
Property taxes in Westchester NY is around $24k/yr.
Good Conversation! Inflation, Inflation, inflation! Got to build wealth!
When I bought my house 6 year ago the HOA fee was $120 a month. Now it’s almost $200 a month. Gone up $1000 a year for nothing.
Property tax for our home in Dallas are $800/month. And we downsized to a smaller less expensive house 4 years ago when our daughter was in college. We used to pay $1,300/month. Just property tax.
I just lost my dad in May and my mom 8 years ago. Both times they were sent to a nursing home here in the US I had to get them out immediately for substandard care. From this experience I am looking at all options for myself when I am elderly as I never want to experience one of those places again.
I’ve experienced this as well. Had to remove my mom from her nursing home. It’s hard but having her in the nursing home was harder.
Thanks for sharing today....from the Ozarks, childfree for life
That’s crazy!!! Mark and I will plan to check that out when we go! Thank you for posting this.
It cost money to do anything. The quality of what you do and how you do it is definitely an individual choice. Growing up my family lived in rentals with shitty landlords, rules, everyone else’s smells and drama. Lived in my RV while building my home and that was not for us either. No feeling like walking into your home with pup and doing whatever you want! 😊
I love it, I love how your thinking of your family, what a beautiful couple 😊
Thank you for the video. Great topic and wonderful information. Thanks for getting the wheels spinning in my head.
If you notice rich people never stay in their houses for long, they know the game
Wisdom, nothing beats wisdom I tell you.
Your math is interesting. My wife and I are new quasi-empty nesters (we have a freshman in college). However, we've always managed to clean our own home among us...
great topic and vid!!
Thanks!
THANK YOU FOR ADDRESSING THIS!
Last year, I was working full time, budgeting groceries, unable to afford date nights, and missing time with my kids. Now I learned how to make money online. Now am a SAHM, homeschooling, and making profits every week.
Wow that's awesome investing in alternate income streams should be the top priority for everyone right now. especially given the global economic crisis we are currently experiencing. stocks, gold, silver, and virtual currencies are still attractive investments at the moment.
Cryptocurrency/stock investment, but you will need a professional guide on that.
Facebook 👇
Evelyn C. Sanders
Am glad seeing this here today, your recommendation earlier this year was a blessing to my life and that of my family, am so grateful.
Thank You for sharing this info about a much better way to enjoy our Golden Years!
I’ve lived in independent senior housing in Louisiana and some of my neighbors died in their apartments and were not discovered for weeks
I thank God that I've inherited a mortgage free house. One day I will rent and then sell my condo. To buy something these days is insane! I'm also on my way to a 3rd career change (teaching in higher education) & owning my own business. Time for a softer life in my fifties & Building the Kingdom of God.
Amen 🙏🏾
In Australia, a not for profit aged care facility for a relative. The refundable deposit for the room is 500k, and the monthly fee on top is $1600AUD. But it has everything and care for my relative with dementia so it's safe and doesn't look like a hospital. It looks like a hotel, the decor and the meals are like a restaurant.
If your income cannot support the property tax maintenance and insurance you cannot afford it esp if you need to rely on Airbnb.
If long term rentals income cannot even support it it's too expensive get rid of it
My husband and i are working ok getting debt free and plan lord willing to love overseas. We did the American dream in our early 30s
My HOA cost is $1250 per month (I live in Naples, FL), but my car insurance is only $150 per month. It’s insane how costly everything is!
a captured market - now imagine you have a costly illness in america
HOA costs are what you have chosen. You decided to have them.
@@meatgravylard - it's not like you can choose between a coke or a pesi
We’ll be selling our (expensive) house and plan to travel for a few years, but currently plan to settle in the US in a more affordable area. I love to travel, but I’m a home body at heart. 😊
Would love to see a video tour of this retirement community
Don't simply retire from something; have something to retire to. Start saving, keep saving, and stick to investments. Everyone should have BTC in their portfolio
It’s really heartbreaking to see how inflation and recession impact low-income families. The cost of living keeps rising, and many struggle just to meet basic needs, let alone save or invest. It’s a reminder of the importance of finding ways to create financial opportunities. You've helped me a lot sir Brian! Imagine i invested $50,000 and received $190,500 after 14 days
Absolutely! Profits are possible, especially now, but complex transactions should be handled by experienced market professionals.
Finding yourself a good broker is as same as finding a good wife, which you go less stress, you get just enough with so much little effort at things
Brian demonstrates an excellent understanding of market trends, making well informed decisions that leads to consistent profit
I'm surprised that you just mentioned and recommend Mr Brian Nelson. I met him at a conference in 2018 and we have been working together ever since.