Several years ago, I found the dream car I’d always wanted, sitting on a lot in Phoenix, Arizona. It was a 1988 Mercedes 560SL—a two seater with a removable hardtop—with only 40,000 miles, for just $15,000. And for just another $800, the guy even delivered it to my driveway in Vermont.
In my former life, I failed to live up to society’s expectations in plenty of ways. Just ask my high-school teachers or my ex-wife.
The island rises in front of you like a lush, green paradise…its verdant hills fringed with thick, tangled mangroves and studded with tall palms. As you approach from the mainland causeway, Brazil’s Itamaracá looks like an oasis rising out of the Atlantic.
Part-time residence abroad? Not for me, thank you. At least that was my position 10 years ago, when I was preparing for my own move overseas.
My first international move began near the top of a highrise in mid-town Manhattan and ended on the cobblestoned colonial streets of Cuenca, Ecuador. The next was even longer, going around the continent to the shores of Punta del Este, Uruguay.
It was boredom. That’s what started me on the road to early retirement and moving abroad.
Foremost is the sunset. It caught me by surprise. When that huge orange ball drops slowly into the emerald-green sea, it brings the beach areas to a halt as everyone stops to watch.
A decade ago, making phone calls from abroad meant one of two things: either a trip to a crowded call center…or phone bills that could add up to hundreds of dollars for the convenience of chatting from home.
“I don’t know how you can live with yourself,” a reader wrote to me. “By recommending places like Ecuador, you’re placing the lives of Americans in danger. Don’t you remember the four church women who were killed in Honduras?”
Missed bills…late-payment charges…high ATM fees… and difficulty getting to your money when you need it. These are some of the pitfalls that await the unprepared expat when moving overseas. But with the right planning, you’ll be able to manage your finances just as efficiently as you did back home—probably better. Here are some of the most important things to consider.