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I’m part of the ChooseFI Facebook group as well as a local ChooseFI group here in Northeast Ohio. If you are interested in joining a local ChooseFI group, look here to see if one is available in your area. In our local group, we alternate our monthly meetups between educational and social. I’ve gained so much from being a part of this group:
- Forming new friendships
- Discussing tough topics
Learning about geoarbitrage from the community
Well, this past weekend we had Jim from Route to Retire give a talk on FIRE and geoarbitrage. FIRE being the acronym for financial independence, retire early which is exactly what Jim and his family did. They started out the new year as early retirees. Additionally, they are planning on moving to Panama this summer to take advantage of global geoarbitrage.
Geoarbitrage – Relocating in order to take advantage of the lower costs of a city/country.
There are many people who have taken advantage of domestic geo-arbitrage and one such example is the couple behind Freedom is Groovy. You can hear the Groovy’s story on Mr. Groovy’s ChooseFI interview or you can read about it on this blog post which includes a cool geoarbitrage calculator.
Jim was gracious enough to share the details on his family’s upcoming move to Panama:
- Their why
- How they chose Panama
- Cost of living in Panama
- Schooling for their daughter
- Healthcare in Panama
- What they are doing for health insurance
I was able to record most of it until the storage on phone was full (oops). Anyway, I got the meat of his talk and was able to upload it to my new YouTube channel. Moreover, I’ve learned how to do some editing on YouTube via this instructional video. #AlwaysLearning
However, I could not get the edits to save so I apologize for the occasional times the video is unsteady. I should have used a stand. #StillLearning
The content of the video is really good, though.
If you have questions, especially since I cut off the end of his presentation, feel free to reach out to Jim via Route to Retire. He is an ultra nice guy. 🙂
Since the video is about 30 minutes long, I will stop writing and let you get to watching it. Enjoy!!