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.

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

500 housing

135 utilities

120 groceries

250 restaurants

45 phone/internet

100 transport

120 healthcare

400 entertainment

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.

– $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

833 housing

140 groceries

300 restaurants

18 phone/internet

80 healthcare

400 entertainment (includes transportation)

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Fly to FI (Cody’s Blog)

Saving-Sherpa (Justin’s blog)