Location vs Money

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James_0011
Posts: 392
Joined: Wed Nov 09, 2016 12:00 am

Location vs Money

Post by James_0011 »

Hi everyone,

So I've gotten a few job offers and I need to make a decision soon, so I thought I would ask everyone here.

My main problem is trying to choose between holistic life goals and money to fast track ere. One offer is in south east asia, which is a place I've been wanting to live for awhile and the other is In the US. I am going to be making a lot more money if I stay in the US, but living costs are higher. I would still be able to save more if I stay in the US. I also have about 19k in student loans I need to pay off and want to do this asap. Its cheaper to live in asia, but I will be getting paid less too.

If I didn't have loans I would go to asia no question, but I feel irresponsible not paying down my loans as quickly as possible. After I ere I can obviously live in south east asia for an extended period of time if I wish, but I'm not sure how much different doing something like that in my early twenties would be versus doing that in my mid/late thirties.

I was also told that I could tutor english on the side in asia after work, and bring in another 15k a year.

The exact numbers are: 55k - 60k if I stay in the US
20k - 25k in asia + potential tutoring money = 35k - 40k

What does everyone think?

I think cost of living in the US would be in the 15k per year range, and in asia the 6k per year range. But, Im still unsure.

Anyways, Im open to any comments. thanks

I should also mention that I would probably only do the asia thing for a few years, and then move back to the US for a higher paying job
Last edited by James_0011 on Thu Mar 02, 2017 2:08 pm, edited 1 time in total.

Did
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Joined: Mon Apr 01, 2013 7:50 am

Re: Location vs Money

Post by Did »

I think for the accumulation phase follow the money. Asia is fun but can be hard to squirrel it away if the pay is low. Less fun when you are old and broke and stuck in asia.
Last edited by Did on Thu Mar 02, 2017 3:27 pm, edited 1 time in total.

George the original one
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Re: Location vs Money

Post by George the original one »

Asia will always be there in the future.

classical_Liberal
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Re: Location vs Money

Post by classical_Liberal »

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Last edited by classical_Liberal on Thu Feb 04, 2021 10:59 pm, edited 1 time in total.

Scott 2
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Re: Location vs Money

Post by Scott 2 »

Asia now, once established and accustomed to the higher income, very hard to leave.

BRUTE
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Re: Location vs Money

Post by BRUTE »

money

Hankaroundtheworld
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Re: Location vs Money

Post by Hankaroundtheworld »

Choose what your heart is saying, you only live once

wood
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Re: Location vs Money

Post by wood »

What is it about life in Asia that intrigues you? If you're gonna bring in 15k from tutoring, you might find yourself drowned in work there and no time for play.

James_0011
Posts: 392
Joined: Wed Nov 09, 2016 12:00 am

Re: Location vs Money

Post by James_0011 »

I think Im just going to go for the money, I want to get this working thing over as quickly as possible.

Scott 2
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Joined: Sun Feb 12, 2012 10:34 pm

Re: Location vs Money

Post by Scott 2 »

What are you going to do once the working thing is "over"? Travel to Asia? Maybe get to know the local culture by teaching some people English?

There's a good chance you're never going to Asia for an extended period, if you don't go now. Life happens. To me, the biggest advantage of knowing how to live inexpensively, is you have the freedom to try something like this.

The worst case scenario is it goes horribly, you move back to the US, and get a different entry level job, but without the constant wonder about Asia.

I personally hate traveling, live about 5 miles from where I grew up, and would never go to Asia. One of my oldest friends moved to HK in his mid twenties, enjoyed the hell out of it, and never moved back. He's able to get by working part time, takes multiple trips to east Asia each year, and meets all sorts of cool people. I have more money from staying put and working my 9-5, but he's definitely had the more exciting life.

James_0011
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Joined: Wed Nov 09, 2016 12:00 am

Re: Location vs Money

Post by James_0011 »

@scott, now Im doubting my decision haha. I see both sides of the argument -which is a blessing and a curse I guess. I still don't know what exactly I would do after I retire, i've just read a few FI blogs where people retire abroad in their thirties, so I don't see why I couldn't do it too.

Dragline
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Re: Location vs Money

Post by Dragline »

If you were my kid, I'd tell you to stay in the US and pay off your debt. Then you can go live in Asia or do whatever.

But if it were me and I was planning on coming back anyway and feel like you can get a similar US job when you do, then go by all means. If you are considering retiring there, you really need to know what its like. I would not count on the tutoring money in your calculations, though.

stayhigh
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Joined: Sun Dec 06, 2015 4:20 pm

Re: Location vs Money

Post by stayhigh »

Follow your heart. I'd go to Asia, as this can be your only chance. You will learn A LOT about world and yourself, and have tons of great memories, even if you won't like it as much as you think. Don't forget you still have many decades left to make more money, so don't worry about it too much now. You are young only once.

thrifty++
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Re: Location vs Money

Post by thrifty++ »

The extra money from tutoring will be for extra work which will not make an enjoyable life. So I dont think you should even consider the extra $15k in your decision. There will be side hustle opportunities bringing in an equivalent amount in the USA too if you really want them. So on the money side I think you should be looking at it as 55k - 60k vs 20k - 25k in asia.

You could even bring your USA based living costs close to the living costs in Asia if you really focused on the extreme side of early retirement. Eg growing your own food rather than buying, foraging, hunting, fishing,. Maybe even kitting out a van to live in for a while to get rent down. Maybe you could hike up the extreme until you get those debts paid down and grow some capital.

I would probably go for the USA based option. Mind you to me working in south east Asia doesnt actually seem too pleasant. Retiring yes but working no. I feel like working in such a hot climate would be unpleasant. And I am not sure what working life would be like, eg such countries arent known for workers rights and I imagine long intense working hours. But then I imagine this might be an ex pat job for a foreign country and working life being westernised?

rube
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Re: Location vs Money

Post by rube »

+1 for Asia.
You said you wanna go there, so go. Life experience beats a few years faster to ERE. See Asia as part of ERE, I am not sure to which part you go but I can tell you that during the time I lived in Asia has drastically changed my life for good (although that would have been different in a place like Singapore/HK).
Either way, there is no wrong choice.

James_0011
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Joined: Wed Nov 09, 2016 12:00 am

Re: Location vs Money

Post by James_0011 »

thrifty++ wrote:The extra money from tutoring will be for extra work which will not make an enjoyable life. So I dont think you should even consider the extra $15k in your decision. There will be side hustle opportunities bringing in an equivalent amount in the USA too if you really want them. So on the money side I think you should be looking at it as 55k - 60k vs 20k - 25k in asia.

You could even bring your USA based living costs close to the living costs in Asia if you really focused on the extreme side of early retirement. Eg growing your own food rather than buying, foraging, hunting, fishing,. Maybe even kitting out a van to live in for a while to get rent down. Maybe you could hike up the extreme until you get those debts paid down and grow some capital.

I would probably go for the USA based option. Mind you to me working in south east Asia doesnt actually seem too pleasant. Retiring yes but working no. I feel like working in such a hot climate would be unpleasant. And I am not sure what working life would be like, eg such countries arent known for workers rights and I imagine long intense working hours. But then I imagine this might be an ex pat job for a foreign country and working life being westernised?
Makes sense thanks for the input.

Yeah its an expat job, most of the other employees and the ceo are from western countries so I don't think it would be that much different in terms of work culture.

Seriously considering the van thing if I stay in the US. I'm not sure how it would work in asia though I need to research it more.

IlliniDave
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Re: Location vs Money

Post by IlliniDave »

I'd take the better paying job and get my finances in order before I thought about going overseas for half the pay. Of course, this is coming from someone born without the exotic wanderlust gene and with the ability (maybe due to lower standards) of creating a fulfilling life wherever I happen to be.

I understand tomorrows are not guaranteed, but for a young person they are highly likely.

jacob
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Re: Location vs Money

Post by jacob »

I'd pick the one with the greater optionality. Your future self 5 years from now will appreciate the foresight. It's not clear to me which of the 1+few choices is best in that regard. Personally, my strategy has been to look out for my future self rather than my present self. This generally works well for my present self thanks to my past self.

Practically speaking. If Asia is just an entertaining dead-end whereas US is an upward or increasingly branching trajectory, I'd go with US. If US is just a random job that doesn't increase prospects but does come with money whereas Asia is part of an international track, I'd go with Asia.

PS: That whole debt thing might not sound like a lot in terms of LTD to income, but if you look at it in terms of exponential time, the eventual difference can be very significant. See http://earlyretirementextreme.com/updat ... ation.html

James_0011
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Joined: Wed Nov 09, 2016 12:00 am

Re: Location vs Money

Post by James_0011 »

Thanks for the remarks, especially the last part about debt. Both of the jobs are in the technology field and will lead to more/better opportunities down the road. In fact, part of the reason Asia is attractive is because of the massive economic growth in Burma (which is a huge market for the product the Thai company is developing)

pukingRainbows
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Re: Location vs Money

Post by pukingRainbows »

How valuable is being in Asia to you compared with expediency toward ERE?

I see living and working in Asia as an opportunity that provides a wealth of experiences in and of itself as well as being useful for making decisions further down the road in regards to travel and lifestyle possibilities. So my vote would be Asia, depending on how much you value the experience of living in another country.

My perspective is that there's no rush to ERE if you are actively enjoying what you are doing presently.

Also, depending on your family/relationship situation, living abroad in the future may not be as feasible as it is now.

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