Summary
Today on the podcast, we have Amy and her partner Matt from FI Freedom Retreats, a five-day financial independence retreat in Bali.
This was a passion project born out of Amy’s love and gratitude for the F.I.R.E. movement and community.
Heads up, I recorded this podcast in January this year and haven’t released it until now because I’ve been distracted with other things. This means there’s a good chance there won’t be any spots left in the retreat for this year, but I think you’ll still find our conversation interesting.
Some of the topics we cover in today’s episode are:
- Amy’s fear-based relationship with money (00:02:29)
- Geo-arbitraging in Mexico, Thailand, and Bali (00:09:37)
- Matt & Amy’s experience with healthcare while living in SE Asia (00:14:42)
- 90% savings rate in SE Asia (00:22:45)
- Why Amy started FI Freedom Retreats (00:35:41)
- Matt & Amy’s top tips for pursuing FI and living your best life (00:46:36)
Links
- Website – FI Freedom Retreats
I don’t mean this to have a go at anyone. But have you ever thought about the impact of geo-arbitrage on the local population? Do you reckon it has net positive effects due to money being inserted into the economy or is this driving up prices too much for the locals? Is there any research on this?
https://www.bbc.com/news/world-europe-65485908
Yup. Portugal is a European country with a relatively low cost of living. In recent years (pre covid) they have created a ‘digital nomad’ visa designed for people who are able to work remotely.
There’s actually a USA fire couple that moved to Portugal because it’s so cheap.
Anyway, the locals can’t afford to buy in the big cities any more on local wages.
Housing is an issue not acute to just Portugal (I live in Sydney!). I think the article highlights the issues relating to this crisis in Portugal due to foreign investment through tax-free schemes for investment funds, digital nomads, and – most of all – Portuguese Golden Visas.
In my opinion, people who have achieved FI, and are looking for geo-arbitrage opportunities, do not fall under this category. I would say those FI group of people will most likely look for rental properties via the market (or worst case via AirBnB). However, I agree countries and cities should implement the right policies to ensure locals are not negatively affected when those cities encourage foreigners to visit/stay there.
Yeah of course it’s more nuanced than just one cause like FIRE people.
But ultimately, rich white people moving to low cost of living foreign countries is going to drive prices up.
Very cool podcast, Amy & Matthew seem like a lovely couple and have figured it all out… congrats! Bali-based FI retreat is genius too.
Geo-arbitrage has been on my radar for a while since travelling through Asia over the past few years. The food alone is enough to persuade me that my future will be in Asia somewhere. Nice to get some different perspectives on this.
Took a gap year in Japan myself back in the 90s, so can definitely vouch for the working holiday / travelling thing as well. Lots to unpack from this interview. Great stuff!