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Old 05-09-2013, 07:27 PM  
EddyTheDog
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Join Date: Jan 2011
Location: London, Spain, New Zealand, GFY - Not Croydon...
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Quote:
Originally Posted by DWB View Post
Not sure if serious. How could having another income stream possibly be the worst advice?

Having been out of the USA for almost 10 years now, I've seen my fair share of expats who have had to give up their dreams of living overseas and go home. The #1 reason... Money.

No one takes exchange rates and currency fluctuations into account when moving. Huge mistake unless you simply make more money than you can ever spend in your lifetime. Some people have that luxury, most do not.

Guys who earn locally and earn from back home seem to be the guys who stay. Guys who only get paid via their pension based on their currency back home, those are the guys who usually have to throw in the towel. Not all of course, but I've seen it happen a lot. It all stems from poor planning, not protecting themselves financially, and believing stories like this Yahoo rubbish.

Right now I see lots of guys from Europe having to leave Asia and go home. They can't keep up with local inflation in strengthening of the local currency. It was great while it lasted but they didn't think it through, so now they have to go home. Tough luck.
I have lived all over the world - 1st, 2nd and 3rd world - Having a consistent income is essential.

You can not and will not live 'like the locals'...

Being poor in your own country is a lot different from being poor in a strange country...
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