How to Leave it All Behind and Move to Paradise

If you're like most of us, you've probably dreamedcontinue on as an investment banker (for some
about packing up your life and shipping out for areason I can't fathom), then the Caribbean may be
tropical island in the Caribbean or a ski chalet inout. But that doesn't mean you can't live on a tropical
Switzerland. Also like most of us, you've probablyisland; Singapore is clean, gorgeous, and an
never lifted a finger to make it happen.international securities trading hub. The point is to do
Here's an easy, brief exercise to help you realize justyour homework on your career objectives and
how easy it would be to actually do, if you were todestination's economy before buying a plane ticket,
actually get up and try it.so you're not in for a rude awakening.
First of all, let's prove a point about cost of living, and2. Transportation: You won't have a car (unless you
how you're spending a lot more right now than youbuy one there, which I don't recommend), so make
would be if you were living out your dream insure that you consider transportation before buying a
paradise. Write down, on a spreadsheet all of yourplace or signing a rental agreement in your new
monthly expenses, from your mortgage or rent toParadise. You may be able to walk everywhere, or
your monthly gasoline costs to your Netflixbike, or skateboard, or scooter. Or maybe you'll want
subscription. Every bill, every incidental expense, anda strong public transportation system, with a metro
add them up to see what you actually spend everyand clean, safe buses. Regardless, just remember
month. Now, go through and remove everything thatthat the rest of the world doesn't rely on cars the
you WOULDN'T need on Bermuda or in the Alps,way we do in America, and getting around without
including your car payment, car insurance, parking,one is almost always easier and less expensive in
and gas. It's probably a lot smaller, which is goodother countries.
news, because you probably won't be making as3. Cost of Living: First, there's the obvious thing to
much money in Paradise.consider, which is currency exchange rates; maybe
But what about your house, you say? Your car?your dollars will go quite far in Paradise's currency.
Your garage full of belongings?Second, there's the difference in relative cost of
You don't need them, and before you argue withliving, including housing and food, especially. Third,
me, consider how little you use most of the stuff inmany real estate and rental markets are extremely
your house. You may decide to keep the house,depressed right now, meaning you can score an
which is fine, because you can sign a rentalexcellent deal on a purchase or locking in a long term,
agreement and let someone else pay off yourlow cost rental agreement. Fourth, and possibly most
mortgage. We'll come back to that momentarily, butimportantly, think outside of tourist literature, and find
the car won't hold its value the way your real estatea hidden gem. Living right on the beach itself, next to
will, so sell it now and have done with it (more onthe mammoth resort, might be prohibitively
how you'll get around Paradise in a second). And yourexpensive, but living a quarter mile away (a four
belongings? Take your most important things withminute walk) from the beach may be cheap.
you (your laptop, for example), put what you can'tLastly, let's touch on employment once more, as it's
part with in storage (your grandmother's dresser),the greatest inhibitor for most people. It is entirely
and sell the rest or give it to charity. You don't usepossible that, with the right negotiation with your
most of it, and you don't need it.boss, you can keep your PRESENT job, and simply
As mentioned, you probably don't want to sell yourtelecommute. The world is, after all, a smaller place
house in such a miserable real estate market, so askthese days, and you can be connected instantly
around your friends and family and see if anyone youthrough the internet or phone line. You should also
trust would be interested in signing a rentalconsider finding a new job that DOES allow you to
agreement and living there. If no one volunteers totelecommute, if you don't or can't do it with your
long-term house-sit for you, advertise in Craigslist,current one. Alternatively, you could work locally in
Hotpads, and/or your local newspaper, and screenParadise, through starting a scuba diving shop, or
your tenants carefully by pulling credit reports andteaching English or another skill or trade, or
verifying their income and housing history. You cantransferring your skills directly to another job there.
build a custom lease for your state online at EZEducated Americans are in great demand out there,
Landlord Forms, and watch your principal balance dropto provide skills and services not as easily found in
as they pay off your mortgage in your absence (seelocal economies, so keep an open mind
below for links to all of these sites).The most important thing to remember is simply to
You may have already chosen your perfect Paradise,do your homework, before signing away your life
which is awesome. Whether you have or haven't,through deeds or a rental agreement, and committing
however, consider each of these, as they'll helpto a specific Paradise. There are many out there in
determine whether a destination makes for a goodthe world, from Paris to Phuket, Perth to Panama. Pull
spot for you to nestle in.up your anchors, and remember that you can always
1. Your desired profession vs. the local economy: ifreturn to plunk them down again in a year or two if
you want to be a ski instructor, and want to moveyou find that you're not suited to Paradise life;
to the Alps, you're golden. But if you want toAmerica will still be here.