Why become an expat?

Hi:

Why would anyone become an expat? I don't think it is what people start out looking for, but something that people fall into as a lifestyle.

For example, I know of several people who went to work in Dubai, as post-secondary educators.

The money was not great but OK, say around $60,000 a year. However, considering that this was tax-free income, the money offered seems much more attractive that the same amount here.

Of course people had to structure their tax situation properly to get it tax free.

Besides that, these individuals received a $10,000 furniture allowance, paid-for accommodation, a round-trip air ticket back home once a year, and the usual two months' holiday. At this point things did look considerably better.

Expenses consist of food and personal items. They could bank say, $50,000 per year, or $100,000 per year as a couple. Suddenly it becomes possible to save half a million dollars in five years.

Besides that, the close proximiity of the middle east makes foreign travel in that part of the world more accessible. People spend part of their holidays in exotic places and take short weekend jaunts to Paris or Barcelona.

It adds up to a stimulating and challenging lifestyle.

All this being said, the dangers of the middle east were not what they are now.

Would I do it today? Good question. The point of this example is that there are opportunities, with short windows, for those that are brave.

More tomorrow.

M.

retirement and expatriates