More Americans Beating Inflation by Living/Earning Overseas

Americans find a way to beat inflation by living and working overseas and "working the latitudes"

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Baltimore, MD (Vocus/PRWEB) April 04, 2011

With inflation skyrocketing in the U.S., more and more Americans are finding a surefire way to beat rising costs: by living and working overseas.

It’s called “working the latitudes.” You earn in one jurisdiction (where the cost of living is relatively high) and live in another (where the cost of living is much lower). In some cases, that also allows U.S. citizens considerable tax benefits. Those who qualify for the foreign earned income exclusion, for example, may exclude up to $92,900 in foreign earnings for 2011.

In the April issue of its flagship magazine, InternationalLiving.com profiles several people with international career portability. Like Larry Snyder, a registered nurse who created websites to help nurses with their continuing education. “As the business grew it became clear I could do it from anywhere,” he says, and when his wife decided to move back to her native Colombia and start her own manufacturing company, Snyder went with her.

Now, he says, “Colombian medical authorities are going to accept our online courses and we’re getting new courses written in Spanish for this market.”

Advances in technology have made it increasingly possible for people like Mr. Snyder to work overseas. Freelance copywriter Jason Gaspero is another. With a laptop and an Internet connection, he says, “I’ve got a career in which I’m in total control of my time, my income, and especially, my choice of workplace. Today I spend most of the year living on an island in Thailand. My “office” is now the perfect place for some mid-day snorkeling!”

Read the article here: Fund Your Life Overseas With Portable Careers and Business Ventures

For some Americans overseas, earnings opportunities often just fall into their laps. Barbara and Joe Wilson moved to Ecuador expecting to retire. (Thanks to a host of attributes, including its temperate climate and low cost of living, Ecuador ranks #1 on International Living’s annual Global Retirement Index.)

In Ecuador, the Wilsons planned to slow down and take life easy. But they learned that Mindo, the village where they settled, is a perfect place for growing cacao beans. Mrs. Wilson, who is a graduate of Ecole Chocolat, a master chocolate making program in Vancouver, British Columbia, couldn’t let the opportunity pass her by.

Today the Wilsons operate a hostel, restaurant, microbrewery and chocolate-making business in Mindo, and they export organic cacao nibs to the U.S. for processing into gourmet chocolate products that they sell via their website.

“There are a lot of business opportunities here,” Barbara Wilson says. “There is also a growing market of Americans who are relocating to Ecuador and they want to find some of the things that they are used to getting in the U.S.”

The Wilsons appreciate that they can now set their own hours and that lower expenses and labor costs in Ecuador allow them to be able to afford to hire employees. Most importantly, says Mrs. Wilson, the work is enjoyable. “Work is play and that is the best of all worlds.”

While more and more Americans are moving overseas to work and start businesses, says International Living executive editor Jennifer Stevens, it’s also about finding happiness.

“People of all ages and in all stages of their careers…especially retirees…are finding it harder to make ends meet in the U.S.,” she says. “Some of them are stuck in jobs they really don’t like and they’ve put off doing things they’ve always wanted to do because they have to pay the bills and there’s nothing left over.”

International Living has profiled expats living in countries like Ecuador, Belize, Costa Rica and more, including parts of Asia and Europe, Stevens says, who are living quite well on $1,000 per month or even less.

“If your home is in a place where your expenses are minimal,” Stevens says, “and business start-up costs are low, it’s easier to act on opportunities and follow your passions. And if you have a portable career that allows you to work from anywhere, you’re really at an advantage…in many cases you can effectively double, triple or even quadruple your disposable income.”

For more information, see InternationalLiving.com. For more than 30 years, International Living has been the leading authority for anyone looking for global retirement or relocation opportunities. Through its monthly magazine and related e-letters, extensive website, podcasts, online bookstore, and events held around the world, International Living provides information and services to help its readers live better, travel farther, have more fun, save more money, and find better business opportunities when they expand their world beyond their own shores. InternationalLiving.com has more than 200 correspondents traveling the globe, investigating the best opportunities for travel, retirement, real estate, and investment. Learn more at InternationalLiving.com.

For interviews and further comments, contact Carol Barron: CBarron(at)InternationalLiving(dot)com.

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