Have you ever dreamed of living on a faraway beach island? You and your loved ones would wake up to bright sunny days and lay on the beach all day long.
Does this life seem possible to you? Or does it sound completely out of the realm of reality?
If you struggle to understand how people can live these extraordinary lives, I will give you the secret right now—passive income.
That’s right, the answer to all your problems is creating passive income streams. While you lay on the beach, your money is compounding, growing, and paying you. Yes, your money pays you.
That is the magic of passive income. Over the last few months, I have written several articles on retiring overseas on passive income. Yes, you could just build a considerable dividend portfolio and retire on dividends, but I believe diversification is best. Here is what I covered:
Living Overseas Passively 101: Introduction. Here, I discuss setting up your plan far in advance of your move date. Yes, like ten years in advance.
Living Overseas Passively 102: Financial Mindset. You cannot do anything in life without the right mindset, and moving overseas is no different.
Living Overseas Passively 103: Retirement Income. I discuss using your Roth IRA or military pension to base your overseas income.
Living Overseas Passively 104: Dividend Income. The mother of all sources of passive income. I prefer to use an Income portfolio as my primary source of dividends.
Living Overseas Passively 105: Rental Income. Rents can be a fantastic source of consistent passive income; however, you need a great property manager back home.
Living Overseas Passively 106: Royalty Income. Royalties from your creative works are great additional income, but I wouldn’t rely on them for my expenses. They are inconsistent.
Living Overseas Passively 107: Cryptocurrencies. The stable coin USDC pays 9% interest. If you can live on 4-5% of this income, you would never run out of money. In fact, your cash pile would continue to grow.
Living Overseas Passively 108: Automated Business. Having a business is great because it can continue to grow and prosper while someone else is in charge. You’ll just take that juicy residual business income.
Living Overseas Passively 109: Cash and Emergency Fund. Cash is a necessary part of your overseas life. You never know how the world can change overnight. You want to prepare yourself.
Using all these sources of passive income will make you very happy overseas. You should have an abundance of wealth, plus managing your income streams can give you something to do for 1-2 hours a day.
If you genuinely think that living overseas on passive income is unachievable, you may be suffering from some limiting beliefs. I recommend reading “Mindset” to figure out who is holding you back.
With that, I’m off to continue to build my passive income. My wife and I want to spend a few years in Turkey while living on passive income. We believe in the dream, and hopefully, you will continue on the path also.
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Disclosure: I am not a financial advisor or money manager, and any knowledge is given as guidance and not direct actionable investment advice. I am an Amazon Affiliate. Please research any investment vehicles that are being considered. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article. All Right Reserved Military Family Investing
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