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Once Alex Davis and Ryan Gleason found a way to live rent-free, there was no turning back.
“Ryan was recovering from burnout, and our living expenses in the U.S. kept increasing,” says Alex. “So we put in our two-week notices and bought one-way tickets to the small city of Cuenca in Ecuador.” The couple decided that moving out of the United States would be the best way to achieve their financial independence goals while also maintaining a decent quality of life.
The cost of living in America is a hot topic right now, as inflation, supply chain issues, and the war in Ukraine all contribute to rising household expenses. 75% of middle-income Americans say their income is falling behind cost-of-living increases, and only 16% believe they’ll be financially better off a year from now, according to a survey published this summer by Primerica, a financial services company.
Alex and Ryan say they had seen enough. After two years of traveling around South America rent-free, the couple settled down in Medellin, Colombia to raise their family. They make it all work on just $1,350 a month. Getting to this point took some planning, but the couple say living abroad is a financial solution other Americans might want to consider.
Here’s how they did it.
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There Can Be Profitable Opportunities Abroad
After working in engineering and sales for eight years — including two years based in Shanghai — the couple had increased their household income, saved their bonuses, and lived frugally. The couple also started a website as a side hustle in 2017 as health coaches, as they had a passion for fitness and healthy eating. The lifestyle soon became unsustainable when Ryan’s sales job began taking its toll.
“He drove all over Texas, Oklahoma, and Louisiana, and was on the …….