Retire South of the Border-Kiplingers

I keep hearing about the benefits of retiring to Panama. Warm weather and a low cost of living lure retirees from the U.S. to central America according to Laura Cohn, Associate Editor at Kiplinger’s, the Central American country not only offers a warm but also provides a lower cost of living, generous financial incentives for retirees, and a reliable and affordable health-care system. On top of that, Panama uses the U.S. dollar, so there's no need to hassle with foreign currency.

After visiting Panama, one retiring couple decided to go make it their permanent home. In 2008, for less than $250,000, the couple purchased a three-bedroom, three-bathroom (plus maid's quarters) condo in a new, nine-story building overlooking the Pacific Ocean. A similar place close to the water in North or South Carolina would sell for well over $1 million. The couple downsized their belongings and shipped some crucial possessions -- their car, their plasma TV and their Xbox -- to temporary digs in Panama City, where they stayed for a few months while their new home was being built in Punta Barco Village, about an hour's drive from Panama City. They could have retired comfortably in the U.S, but they live three to four times better down here."

Cohn does recommend that you consider a few things for you take the leap:

• Do a reality check 
• Do your research 
• Rethink your finances
• How to protect your health

To find a local lawyer, ask other expats, or use an online resource such as www.movingtopanama.com, which provides a wealth of guidance on the logistics of relocating to the country. (Anyone over age 18 who meets the financial requirements can apply for the pensionado program.) For retirees with a sense of adventure and a taste for the good life -- even if they lack a bank account to match -- a change in latitude might be the perfect plan. "All you have to do is think outside the box and beyond your own borders," says Peddicord. "You'll discover opportunities for a completely new and improved life available for a bargain price." To read the entire article with detailed recommendations go HERE.

Multiple Streams of Income

In this blog many of my posts have been off-topic. Well from now on I am going to make a concerted effort to stay with the program. The program is how to obtain enough wealth to retire early. When I say retire, I don't mean move into an assisted living facility and knit all day. I don't even now how to knit. I mean I would be free to work or not work, if I wanted to and when I wanted to. Besides saving money from my full-time job and investing it, there are many other ways that I attempt to make money. It is called making multiple streams of income, and the best type of income stream to have is passive income. With passive income you do not physically have to be on the job 8 hours a day. Most bloggers know that if they have AdSense or other ads on their blog, then they could be making money any hour of the day. We have all seen the ad that says "I made x amount of dollars in my sleep".

So, I have been using this multiple stream of passive income model to obtain my goal of retiring early. I also invest in the stock market, buy municipal bonds when the deal is right, and have several websites. You should enhance your financial education by reading, listening to financial recordings, and attending seminars. This is important, not only for the financial education but the motivation as well. It is too easy to just stay in the rat race and say its too hard to start my own business or businesses. One person, who's books I have enjoyed reading is Robert Kiyosaki. I have learned a lot from his writings and tomorrow I am actually going to a free Launch your Business workshop, taught by his company. I am very excited about this opportunity. So from now on I am going to try to stay on topic here, without being boring. I am sure I will add news other than financial or business from time to time but the main goal of this blog is to discuss how to get out of the rat race.

Believe it or not! Stock Picking Robot

Technology is a wonderful thing. Who would have thought that two geeks would have invented a stock picking robot that doubles your investment. That's what they state and have many credible references to back them up. You should check them out here. I am going to give it a try. Even if it is right 50% of the time what would you have to lose. Plus they give you a 2 month free trial. The point of this blog is to retire early, and this may be the way.