Geoarbitrage Case Studies | Diving into the Numbers with Cody & Justin

Today's episode rounds out our series on utilizing your location as a tool to financial independence and is led by just thew of us hosts. You may hear this idea called geo-arbitrage. We wanted to pick two locations where we would actually like to take a test run of financial independence in a foreign country. Cody picked Santiago, Chile and Justin picked Porto, Portugal. This episode covers an honest and holistic look at what it would cost for a couple to live in these countries while still really exploring and enjoying them. Take a listen and consider where you'd move if you had the freedom. Santiago, Chile Housing - $500 for a one BR apartment - Comes with parking, laundry, gym, BBQ and pool Utilities (Electricity, Heat, Cooling, Water, Garbage) $135 per month Cost of Flights to Other Locations - Flights around South America starting as low as $35. - $385 to get back to  Cody's home in New England Restaurant Samplings - Simple meal at inexpensive restaurant costs $5 Grocery Samplings - $30-35 per week. With mostly fish, vegetables, beans, eggs, “healthy” pasta, fruits, and smoothies Phone/Internet - $45 per month Public Transportation - Taxis will take you anywhere for less than $10 - Average of $150 per month (per expat survey) Healthcare - Ranked 33 out of 190 countries (similar to Australia and Denmark and many of the doctors speak english) - $100-120 for healthy adult expat insurance Visa Requirements (how long can I stay?) - 90 days (plus can pay $100 for another 90 day extension) Weather - Coldest months are June and July with average highs of 61 degrees Fahrenheit - Only downside is that it rains 4-5 days per week Total cost = $1650/month 500 housing 135 utilities 120 groceries 250 restaurants 45 phone/internet 100 transport 120 healthcare 400 entertainment $19,800 per year   Porto, Portugal Housing - $833 for a one BR apartment in heart of the city - Comes with parking, laundry, wifi, all utilities Utilities (Electricity, Heat, Cooling, Water, Garbage) Included Cost of Flights to Other Locations - Flights around Europe starting as low as $25. Paris: $25 Barcelona $49 Milan $53 - $670 to get back to  Justin's home in Austin Restaurant Samplings - Simple meal at inexpensive restaurant costs $6 - Anthony Bordain visited restaurant also serves $1.80 martinis Grocery Samplings - $40 per week. $2.60/lb chicken, $1.30/lb pork, $0.75 fresh bread, $0.90 apples, $2.50 bottle of wine as examples Phone/Internet - Wifi is free, 22gb data and unlimited call cell phone for $18 Public Transportation -Amazing train system for very cheap which I factor into "Travel" Healthcare - Emergency room visits are free - Research shows ~$40 per month for plans Visa Requirements (how long can I stay?) - 90 days with just the passport - Full citizenship appears attainable if you can prove you have healthcare as well as stable income source to fund your retirement Weather - Lowest highs are 57 degrees December/January - Highest highs are 77 degrees in July/August Total cost = $1770/month (for a couple) 833 housing 140 groceries 300 restaurants 18 phone/internet 80 healthcare 400 entertainment (includes transportation) $21,240 per year   Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com If you like what you hear, please subscribe and leave a rating/review! >> You can do that by clicking here