Lots of expats in Thailand. Life there is cheap, but it is a long flight to the U.S.

$1 million dollar may be enough when you are young. When you get older, health care cost will eat up you $1million if you do not have health insurance.

Anonymous wrote:In Ukraine, interest rate on a 1-year CD in USD is about 8-9%. So if you invest $1M, you'll get $80-90K a year. I'm sure it's not the only country offering higher rates.

interests were very high in Argentina years ago, it did not turn out very well for investors if I recall

OP here. Thanks everyone for sharing...this will certainly helps my preparation.

Cheers!

Things to consider:
1. if you stick your money in foreign bank:
risk of expropriation
risk of banking crisis wiping out savings
risk of inflation
2. If you keep your money in US bank:
risk of big currency swings deteriorating your living standards (e.g., you keep your pension in dollars and live in Brazil - your income would have fallen by 50 percent between 2009 and 2011 thanks to the real's appreciation.)

None of which is to say you shouldn't do it, but you need to have lots of cash - divided between local currency and dollar deposits - or a back-up plan in case shit heads south.

I know lots of people that went abroad and loved it - for a while - but then wanted to come back for a variety of reasons.

Huh? just "abroad"?

It's a big wide world out there, a lot of variables.

I'd say you need enough to move back here if the place you choose turns out to have a revolution or tax the shit out of foreigners, etc. ... I think the US is a pretty fucked up place these days & for the foreseeable future but haven't found a decent Plan B yet given my own interests and priorities.

Anonymous wrote:

Anonymous wrote:In Ukraine, interest rate on a 1-year CD in USD is about 8-9%. So if you invest $1M, you'll get $80-90K a year. I'm sure it's not the only country offering higher rates.

OK, I work as a macroeconomist at an international organization.

This is very very bad advice - do not take it. Whenever interest rates are very high, it is because the risks are very high.

I'm the PP, the message of which you replied to. Of course, a risk premium is part of the interest rate, and I wouldn't recommend putting all of one's savings into a risky investment. However, why not to invest a portion of the portfolio in a less developed country, especially when someone is in his 30-40s and could in the worst case scenario go back to work again.

Anonymous wrote:In Ukraine, interest rate on a 1-year CD in USD is about 8-9%. So if you invest $1M, you'll get $80-90K a year. I'm sure it's not the only country offering higher rates.

OK, I work as a macroeconomist at an international organization.

This is very very bad advice - do not take it. Whenever interest rates are very high, it is because the risks are very high.

In Ukraine, interest rate on a 1-year CD in USD is about 8-9%. So if you invest $1M, you'll get $80-90K a year. I'm sure it's not the only country offering higher rates.

it also depends on if you plan on living in a major city or off the beaten path. most larger cities seem to have inflated prices due to expats/NGOs.
My sister has lived in Kenya, Tanzania and Malawi and they have all been surprisingly expensive.