Time to Bug Out of America?
George Ure and Gaye Levy, Contributors
Sunday, April 22, 2012
We seem to get a more or less, constant stream of mail from people who go “one step beyond prepping” and go so far as to actually leave and bug out of America.
George, for example, has plenty of readers, it turns out, in places like Ecuador and Chile, where lots of Americans are moving to extend their retirement incomes. But in some places, like Panama, where George’s brother-in-law is back from, it seems like the overseas boom in real estate has come to a screeching halt.
So we ask ourselves: does it make sense to leave America and move elsewhere for the long term?
What Your Money Buys
For people on fixed incomes, one starting point is to consider what things cost in the country that you are thinking of retiring to . . . or just moving to in order to escape the rat race of North America. The problem is sorting out truth from fiction about what things cost.
Fortunately, there is a widely recognized method of balancing things out using a system called “Purchasing Power Parity.” Wikipedia sums up the concept this way: