Would You Become an Ex-Pat?
What’s going on? With the world always fast tracking anything new and interesting, what should we be on the look-out for?
A surprising report came across my desk that indicated that more and more North Americans are leaving their home country. Here in the US more than ever are giving up their citizenship. To those of you who are reading this some might be thinking then let them go . . . we are better off without them. In fact, tow them out of here! That may be true and one way to think about those who want to leave, but why are so many leaving this so called land of opportunity to have a life somewhere else?
Opportunity is exactly what calls some of these ex-pats from “home”. In Panama for example, entrepreneurs find that there are untapped ventures that allow for growth in phenomenal ways. The enticing thing about starting a new enterprise in a 2nd or 3rd world country is that there is room for growth. Possibilities of hitting it big in the US in some fields which are already highly exploited is down to the 3% – and that’s on the high end. While in virgin territories like Panama, and other Central and South American countries the chance to get the market share first is very attractive. Some folks are heading to these new lands of milk and honey to find their fortune. While many of these countries are still in their growth spurts, North Americans as well as Europeans are relocating to take advantage of burgeoning territory.
There is also another common denominator – the feeling that this country – the US, doesn’t belong to the people any longer. Being disenfranchised with the way the government has little by little taken away our individual rights in exchange for a sense of false security is the general current of conversation. What that means to each individual choosing to leave may be different, but the basic tenet is the sense of loss of freedom.
Some don’t like that fact that with the political shenanigans comes the assumption that we are all ready and willing to be duped into following like sheep the unconscionable acts of those we vote into power. Yes, we put them into office to “take care of us”, but once in a position of power it seems that little get’s done on the people’s behalf. This author realizes that trying to please everyone is an impossible task, but misleading your constituency for the sake of self-gain misses the mark all together. So I can see clearly the hows and whys more and more people are beginning to feel dis-empowered in this beautiful land of ours, but would I leave – not so sure about that. Would I give up my citizenship – no.
While Americans are still re-locating to Europe, south of the border is becoming more and more attractive. The dollar just doesn’t have as much buying power in the US as it does in Central and South America. The loss of freedom comes in the form of financial strain for some retirees. When investigating South America as one of the bigger draws for people on low, but descent retirement incomes I found Ecuador. It is a country that uses the US dollar as it’s currency, but most things costs one third what they would costs in the United States. While the lifestyle is completely different a couple could live like royalty for as little as $1,500 a month and really go extravagant for $2,000. That has to be alluring for people tired of living month to month on a fixed income.
Even though one would think that the largest expat community belonged to the retirees, it does not. According to the Association of Americans Resident Overseas most households relocating outside the US range from 25 to 34 years in age.