[The_CEO]

Let's say you're 38-45 y/o and have a choice to either make 60-75k/year, completely location independent.

Or...stay in one place in the US and make 2x's as much.

What would you choose or, where would you go?

[Brodiaga]

I'd choose location independence and go to SEA as a starting point.

[monster]

One isn't better than the other. It depends on you. If you're very extraverted location independence is probably better because you'll take advantange of it. If you're introverted staying in one place is probably better for a higher income based on your personality type.

Location independence is great if you're taking advantage of it. But if you're not one of those who are outgoing and wanting to mingle all the time then it might make sense to take a higher salary in one location and take a few vacations a year to get out and about.

You didn't share enough about yourself for us to give you accurate advice.

[The_CEO]

I like travel and living in new places.
I'm not interested though in moving overseas permanently.
What might be great is a snowbird arrangement. 1/2 of the time living overseas. Maybe
more some years.
The problem is that this is more expensive - maintaining a second residence. So instead of 6mos. overseas a year, 1-3 may be what is sustainable for me.

Maybe a good start would be a month in SEA (BKK or VN).

[philosophical_recovery]

(01-11-2016 07:10 PM)The_CEO Wrote:  

Let's say you're 38-45 y/o and have a choice to either make 60-75k/year, completely location independent.

Or...stay in one place in the US and make 2x's as much.

What would you choose or, where would you go?

I make 6 figures, and it's currently restricted to my very limited region. I suppose I could shop around and get similar elsewhere, but it's not that flexible and it coincides with high cost areas.

That said, if I could make 60-75k a year while location independent, I'd do it, last week. I'd leave the fuck out of my current job even though it's a good one. Might even strip naked on the way out and streak through the office. Then, I'd figure out a way to double/triple/quadruple/turn it into a million and more.

I'm already working on generating positive side income to make that a possibility. Limiting yourself to a "job" instead of a "career" is life limiting. See WallStreet Playboys.

Edit: It also depends on where you can make low six figures. If you're in a low cost area, you could bank it and coast on your savings after a while, possibly launch your own business relatively easily. If you have to pay NY or SF rent, then hell no. 60-75k with location flexibility is great, but you'll need to have a financial saving/investment/business plan that gets you to old age.

[Off The Reservation]

false dichotomy

[Seth_Rose]

A relevant topic for discussion, one that's crossed my mind recently. A related question is if you have a good career AND have income from location-independent business(es), at what point do you say fuck it, ditch the job, and go abroad?

[lavidaloca]

So many factors are in play.

Whats your current savings nest / age? (Someone with a nice nest egg could be much more free to taking a 50% pay cut to live anywhere as their nest egg can just grow while they spend their new income in their new residence)

Where is it you want to live. If you are taking a 50% pay cut between first world countries and similar cost of living level cities i.e. Chicago vs. Paris you'd almost have to take the higher income. If you are choosing between New York City and Bangkok, Medellin, Santo Domingo etc you then may have a legitimate consideration to take the lower income.

Do you have kids? If I did I don't think I'd be comfortable hardly seeing my kids at all especially so if they are still not adults.

What are you lifestyle expenses? Someone who tends to spend heavy on nightlife would probably save a lot living in a 3rd world city rather than a 1st world city. I.e. Last weekend I went out and my friend probably spent around $1,000 in two nights. In many places he could've paid for a bottle each night and spent in total under $200 for the weekend. If you tend to spend a lot on cars then you are probably going to spend more in a 3rd world country.

How adaptable are you to making new friends? A lot of guys simply aren't going to be able to make new friends very easy. The older you get the harder it likely will be.

How is your parents health? If your parents are quite old and ill you may want to try to spend time with them during their final years.

Do you have expenses that you can't rid yourself of? I.e. Child support, spousal support etc.

For me I'd take the 75k in a heart beat if I could live anywhere and be free to move as I choose as thats a sufficient income level for me to live very well in the places I'd like to live.

[The_CEO]

^^^
Good questions. It's enough for me to live off of.
No kids but no great nest egg either. Not like some I've read on here who have 600k banked or whatever. I wish...

[The_CEO]

(01-11-2016 08:58 PM)offthereservation Wrote:  

false dichotomy

Perhaps the way I posed the question, yes.

For me it's something I'm actively debating.

[Beyond Borders]

^ In that case, take the freedom.

(Note: meanwhile, you can always seek out other opportunities to increase your income in the long run.)

[WestIndianArchie]

Low Six figures in a major G7 coastal city

Versus

Mid to high five figures in SEA, FSU, AFR, Lat AM?

After expenses, I would probably have the same disposable income in both cases. I would have more opportunity to make more money being location independent.

Women wise, girls abroad would be prettier, but ones that speak my language would be better long term.

Personally, I'd go location independent.

WIA

[Off The Reservation]

(01-12-2016 02:16 AM)The_CEO Wrote:  

(01-11-2016 08:58 PM)offthereservation Wrote:  

false dichotomy

Perhaps the way I posed the question, yes.

For me it's something I'm actively debating.

Let me explain. If the amount of income locks you down its not high income.

Only LOW income locks you down.

[WestIndianArchie]

(01-12-2016 10:17 AM)offthereservation Wrote:  

(01-12-2016 02:16 AM)The_CEO Wrote:  

(01-11-2016 08:58 PM)offthereservation Wrote:  

false dichotomy

Perhaps the way I posed the question, yes.

For me it's something I'm actively debating.

Let me explain. If the amount of income locks you down its not high income.

Only LOW income locks you down.

Most 7 figure bankers and lawyers are still key employees and need to be available to the higher ups and clients. That typically requires long hours and staying in town. Even if you travel, you have a digital dog collar.

Sometimes the top sales team guy is mobile, but they often hate life on the road.

So if you're making a 7 figure salary, do you get off the treadmill and downsize? I could live on the interest from a 3-4 million, but that's at 1/10th (probably 3/4%) my previous lifestyle and margin of comfort.

Luxury tasted once often becomes a necessity.

And the high dollar business owners typically have employees. Managers that need to be managed...

As the Bard once said, Mo Money, Mo Problems

WIA

[worldwidetraveler]

This is a very personal question but still a fun one.

I would say the big thing is being able to save enough to be safe if you want to retire or health reasons make you retire.

After that, it's mainly a lifestyle decision.

There is a lot of places, in the western world, that you can live on modest income. The same type of income that people talk about in 3rd world countries. You would even have a better lifestyle here if we talk about about purchasing power.

But do you want to live in those places?

The big thing about independence is more time to focus on other things. You could even focus on making more money to bring up that income to what your job had you at.

Does that mean you are trading one cubicle for another?

I suspect most people can't be independent. It's easier to get up for work when working for someone else only to put things off for days when working for yourself. Then the shit hits the fan when money suddenly stops flowing in.

It's really about being consistent. I work more hours as independent than I did as a consultant. I love it but not for the reasons many want to be independent. I think the major reason would be allowing me my creative freedom to pursue projects that gets me excited versus working on projects because the boss says so.

[VolandoVengoVolandoVoy]

I would vote for location independence.

Also, at 60k+, you don't need to live in a 3rd world shit hole.

I know a lot of guys on the forum love SEA and South America, and to a certain extent I like those places too, but as I've gotten older and wiser my ability to tolerate 3rd world conditions is limited to short stays of a week or two.

For a long term base of operations I highly recommend southern Spain.

All the advantages of Europe/1st world (clean air, water, security, health care, etc), combined with an interesting culture, great weather, amazing food, vibrant cities, a great mix of local and international women.

Another huge plus is the cost. I really believe that in southern Spain you get the best value of anywhere I have ever lived. They have a huge economic crisis that isn't going away anytime soon, so prices are really low.

If you have passive income or location independent income, you can live like a king here without spending much at all.

[christpuncher]

Depends where you are in life. If I was 40 and had a large savings account already then sure I'd go LI and live the dream, look for a foreign wife.

Right now I'm late 20s, working in the oil sands and saving 60-70k/year (after taxes and all living expenses) towards my future. I wouldn't give this up for anything but big money in an awesome city, certainly not to move to Asia to attempt running an internet business and barely scrape by on a much smaller income.

Maybe in another 5 years if/when I've got nearing $1M to my name I will be brave enough to set out on some European/SA adventure to find my true calling and a good wife. Until then I'll just keep stacking bills as much as I can.

[CleanSlate]

(01-11-2016 07:10 PM)The_CEO Wrote:  

Let's say you're 38-45 y/o and have a choice to either make 60-75k/year, completely location independent.

Or...stay in one place in the US and make 2x's as much.

What would you choose or, where would you go?

Where do you want to live? That is the question for you or for anyone else in a similar situation.

That 'half as much' can effectively become 'four times as much' or even more depending upon where you live. Make that money in DaNang for example and I have a hard time imagining how I would spend it all. Projecting a huge big baller image and lifestyle means nothing to me so YMMV.

Make that $120K to $150K in the US and it is easy to soak it all up with a lifestyle which falls far short of extravagant.

As for focusing the thrust of your life on reaching some wonderful magical sure thing retirement number, fuck that. If the goal is more money then you will never reach that goal, and you will burn yourself to a fucking nub in the attempt. If you have the ability to live the life that you want to live, do it right now.

[el conquistador]

(01-12-2016 11:56 AM)VolandoVengoVolandoVoy Wrote:  

I would vote for location independence.

Also, at 60k+, you don't need to live in a 3rd world shit hole.

I know a lot of guys on the forum love SEA and South America, and to a certain extent I like those places too, but as I've gotten older and wiser my ability to tolerate 3rd world conditions is limited to short stays of a week or two.

For a long term base of operations I highly recommend southern Spain.

All the advantages of Europe/1st world (clean air, water, security, health care, etc), combined with an interesting culture, great weather, amazing food, vibrant cities, a great mix of local and international women.

Another huge plus is the cost. I really believe that in southern Spain you get the best value of anywhere I have ever lived. They have a huge economic crisis that isn't going away anytime soon, so prices are really low.

If you have passive income or location independent income, you can live like a king here without spending much at all.

I second this.

I lived in Cadiz and Seville. The cost of living is low, the food and the weather are fantastic and the women are better than average.

I can see myself living there long-term when I'm older.

[YardDog]

What kind of LI job is this? Can you work your own hours, whenever you like? Are you in control of your work life?

I've had this decision in front of me and I choose LI. I was offered a gig recently in the States that would've more than doubled my salary but I passed on it.

At this point I have the ability to set my own schedule because I co-own the venture, but If I had to work what amounts to an office job at home, with set hours and a boss breathing down my neck, LI starts to lose its appeal. I might consider the better money option, depending where in the US it was, if that was the case.

If I had set US hours no way I would live in a place like SEA because of the time change. Even Europe would be stretch.

[cascadecombo]

It really depends where you live. For some places that almost 70k a year could let you live like a king.

Personally I may stick with location independence for my option.