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Clark Howard (1:37)
It's my pleasure to welcome you here to the Clark Howard Show. You know our mission is to serve you with advice and information that empowers you so you can make better financial decisions in your life. Some of you listening right now may be living abroad right as I'm speaking. Could be temporarily or indefinitely abroad. And there's an increasing desire of Americans to experience life overseas. And there are some countries paving the way for us. I'm going to tell you what you need to know later. If you have credit card debt, there's a simple way to help you pay it off sooner. I'm going to remind you of that and then take your questions. So there's an interesting stat that I shared with you recently that roughly 4 million Americans are living overseas. More than 1% of our nation's population now lives elsewhere in the world. And there's been a lot more interest in living overseas. And something that I've addressed in the past with retirees, A meaningful percent of people hit retirement and all the money they got is what they're going to get from Social Security. And so people will move overseas to a place where that Social Security payment will be enough for them to live on. But I'm not talking about that. I'm talking about people that are in their work cycle of life and they're thinking, hey, you know, I'm kind of bored here, I want to go see what else is out there. And so people will go and work at least for some period of time overseas. There are places where really wanted and there are jobs. If you're in a job, you can work remotely. Why not, if there's someplace you'd enjoy living? And an example I gave years ago was about radiology, where radiology is read overwhelmingly online now. And there are now people who relocate halfway around the world and live elsewhere and do overnight readings of radiology so that radiologists don't have to work the graveyard shift. And the stuff's read overseas. Just a simple example. And there are countries, I saw an item in Kiplinger about countries that have programs that if you come down with a special skill, they'll pay you to move there. Chile is one of the countries. Ireland has these special grants for people that will invest in housing. Italy has special cash incentives if you have special skills. Japan has one that's so wild because Japan has not really been that open to foreigners staying. They love foreigners coming on vacation. But they have a rural grant that if you're willing to avoid the Tokyo Osaka corridor where so much of Japanese population is, and you go live in a economically depressed, extremely rural part of Japan, like western Japan or something like that, they have special subsidies for that and there's examples after examples about that that if you want to go do something in a foreign country, just like the incentives I've talked about from time to time in cities in the country like I've talked about, the one that's been ultra successful for the city of Tulsa, Oklahoma, it's gotten a lot of tech people and startup minded people to come there for the economic incentives they offer. So going overseas is certainly not for everybody. But I, I love the experiences of going everywhere around the globe. I mean, if you've listened or watch me for any period of time, you know how obsessed I am with travel. This is different. This is where you go plant roots somewhere else for a while. Or for maybe the rest of your working life. One thing though, your experiences as a traveler, as a vacationer, completely different than living somewhere. It's not at all like. And one other thing, even if a place calls to you and lures you, some places you can move are a lot more expensive than living in the United States. Like as an example, Australia that I mentioned a few minutes ago. Would I love to live in Australia? I think so. Would I want to spend how much it costs to live there? No way. So test ride a place way before you'd ever consider buying real estate there. Krista.