Post FI Notes 005: Expat Living in Panama

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After a recent run of anonymous healthcare professionals baring all for a full-frontal financial centerfold, I bring you an interview with a friend of mine who is neither in healthcare nor anonymous.

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His name is Jim, and you may be familiar with his writing at Route to Retire. Like me, he retired from his career job at 43, and started spending time with his family outside of the States. Unlike me, he sold darned near everything and set out to live full-time in the mountains of Central America. When given the option to live in Panama, you might as well jump, right?

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Getting to Know You

Hi everyone – I’m Jim! I retired at the age of 43 at the end of 2018, and I’ve been enjoying every minute of the extra freedom with my wife and daughter ever since.

We’re from Ohio but we’re probably most well-known for our move to Panama a couple of years ago (did you see us on House Hunters International?). We moved here as an adventure once we were no longer tied down to our jobs. It’s been an incredible part of our lives!

With a net worth of just over $1.6 million, we don’t have the cool fatFIRE title like my friend, Leif here at Physician on FIRE, but we do have enough money to cover our needs and wants without a problem. However, because his net worth is higher, he’s obligated to buy beers next time we run into each other.

You’re financially independent. About how much does your household spend in a typical year? How much could you spend while still abiding by the 4% rule?

We initially thought we’d be spending around $40k-$45k/year when we retired at the end of 2018… yeah, we’re not big spenders! Unfortunately, we were essentially guessing because we knew we were moving to the country of Panama right after I retired.

SWIPE UP NOW TO READ MORE

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