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Home Retirement/Living

A New Philosophy For Your New Life Overseas

Kathleen Peddicord by Kathleen Peddicord
May 23, 2011
in Retirement/Living
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A Spending Philosophy For Your New Life Overseas

“I had a friend,” writes Retirement Planning Correspondent Paul Terhorst, “who, during the boom years, told me, ‘Paul, if your income falls short of what you need to keep up your lifestyle, you borrow.’

“My friend was serious. He had just taken out a second mortgage on his beach house, so he could continue to live it up.

“I’d never go that far. But I think the point is well taken. Our daily expenditures make our lives better. After all, we live day-to-day. Our lives themselves are simply accumulations of days. What we do–and, in this context, what we spend–each day makes up our lives. I’d hate to cut back on life to meet a budget.

“Call it a spending philosophy. I’d argue that what we spend day-to-day–dinners out, gas for the car, parties with friends, ice cream cones, gifts, conferences–makes every day better. I’d argue that what we spend on housing, cars, and taxes makes much less of a difference.

“Yet on average we spend roughly 85% of our incomes on just that–housing, cars, and taxes.

“In my mind, that 85% represents a place to cut. Why not live in a place–Thailand, India, Nicaragua, Colombia–with reasonable housing costs? Or structure your life so that your tax liabilities are limited or eliminated? You can live it up, with plenty of money for what’s important.

“Refuse to cut back on day-to-day spending, on what matters most to you. Instead cut into the 85%, that whale in our budget that tends to swim out without anyone looking at it.”

Kathleen Peddicord

 

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Kathleen Peddicord

Kathleen Peddicord

Kathleen Peddicord has covered the live, retire, and do business overseas beat for more than 30 years and is considered the world's foremost authority on these subjects. She has traveled to more than 75 countries, invested in real estate in 21, established businesses in 7, renovated historic properties in 6, and educated her children in 4.

Kathleen has moved children, staff, enterprises, household goods, and pets across three continents, from the East Coast of the United States to Waterford, Ireland... then to Paris, France... next to Panama City, where she has based her Live and Invest Overseas business. Most recently, Kathleen and her husband Lief Simon are dividing their time between Panama and Paris.

Kathleen was a partner with Agora Publishing’s International Living group for 23 years. In that capacity, she opened her first office overseas, in Waterford, Ireland, where she managed a staff of up to 30 employees for more than 10 years. Kathleen also opened, staffed, and operated International Living publishing and real estate marketing offices in Panama City, Panama; Granada, Nicaragua; Roatan, Honduras; San Miguel de Allende, Mexico; Quito, Ecuador; and Paris, France.

Kathleen moved on from her role with Agora in 2007 and launched her Live and Invest Overseas group in 2008. In the years since, she has built Live and Invest Overseas into a successful, recognized, and respected multi-million-dollar business that employs a staff of 35 in Panama City and dozens of writers and other resources around the world.

Kathleen has been quoted by The New York Times, Money magazine, MSNBC, Yahoo Finance, the AARP, and beyond. She has appeared often on radio and television (including Bloomberg and CNBC) and speaks regularly on topics to do with living, retiring, investing, and doing business around the world.

In addition to her own daily e-letter, the Overseas Opportunity Letter, with a circulation of more than 300,000 readers, Kathleen writes regularly for U.S. News & World Report and Forbes.

Her newest book, "How to Retire Overseas: Everything You Need to Know to Live Well (for Less) Abroad," published by Penguin Random House, is the culmination of decades of personal experience living and investing around the world.

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