How to Minimize Inflation in Your Life

[Kal Di]

This lifestyle change can stop you from losing up to 10% a year for the rest of your life. 

[Xyxyfendz]

Thank you for sharing this video, I think it's useful enough for the future student.

[LevelUP]

I can imagine how fast rents are going up in some areas.

Considering its prices in U.S. dollars, food prices will be going up big time in 3rd world countries.

And governments are still spending like drunken sailors, so don't expect things to change anytime soon.

[Kal Di]

Considering its prices in U.S. dollars, food prices will be going up big time in 3rd world countries.

In the 3rd world, inflation on food prices has been minimal. There was a food example in the first 30 seconds of the video (how much do you pay for that in your area?). Most of the 3rd world don't use the U.S. dollar. In countries like Mexico, when the U.S. dollar rises by a full point against the Mexican peso, the local purchasing power for American expats increases by 5% (since we earn money or receive our pensions in U.S. dollars). In addition, prices are always negotiable on many products and services, which can increase our purchasing power by another 10-15%.

[LevelUP]

Considering its prices in U.S. dollars, food prices will be going up big time in 3rd world countries.

In the 3rd world, inflation on food prices has been minimal. There was a food example in the first 30 seconds of the video (how much do you pay for that in your area?). Most of the 3rd world don't use the U.S. dollar. In countries like Mexico, when the U.S. dollar rises by a full point against the Mexican peso, the local purchasing power for American expats increases by 5% (since we earn money or receive our pensions in U.S. dollars). In addition, prices are always negotiable on many products and services, which can increase our purchasing power by another 10-15%.

In Venulazua they were in a situation where they imported most of their food. When their currency collapsed, they couldn't afford to eat.

Not all countries make all their own basic food such as rice, flour, corn, soybean oil, etc. Some countries are located in desert areas and it's not worth it to grow a bunch of crops.

In addition, lots of countries buy animal feed for chickens in U.S. dollars. When the cost of feed goes up, the cost for poultry will go up.

[ss20ts]

8 pounds of oranges for $1.50? Get out of here! Really? Oranges where I live in the US are nowhere near that inexpensive. If you buy them individually they are 99 cents each. A 4 pound bag is around $5.

All remote jobs can't be taken out of the country. Even moving to another state you often need approval due to tax and legal reasons.

[Kal Di]

8 pounds of oranges for $1.50? Get out of here! Really? Oranges where I live in the US are nowhere near that inexpensive. If you buy them individually they are 99 cents each. A 4 pound bag is around $5.

All remote jobs can't be taken out of the country. Even moving to another state you often need approval due to tax and legal reasons.

Some food can be insanely cheap at the farmer's markets in countries like Mexico. Many farmers often heavily discount many things a few days before they spoil or they risk losing the time and money that it took to grow them.

Regarding the remote jobs, there are those jobs that require approval to relocate for tax and legal reasons. However, if it is a 100% remote job, most employers won't know about their employees' relocation unless they share that information. Also, if employees are getting paid via direct deposit, many employers won't notice the difference unless their "secretly relocated" employees are updating their location on their social media profile or publishing posts about their locations.

The only thing those employees will need is a private mailbox service in the same state to manage their mail online while living abroad.

[ss20ts]

Regarding the remote jobs, there are those jobs that require approval to relocate for tax and legal reasons. However, if it is a 100% remote job, most employers won't know about their employees' relocation unless they share that information. Also, if employees are getting paid via direct deposit, many employers won't notice the difference unless their "secretly relocated" employees are updating their location on their social media profile or publishing posts about their locations.

The only thing those employees will need is a private mailbox service in the same state to manage their mail online while living abroad.

You're completely forgetting that employees are required by federal and state law to file tax and employment forms. You are required by law to use the address where you are a resident. You do NOT want to get caught with tax evasion. When living in any country you also have to be legally allowed to work there - even for a remote job. Many employers are not set up for employees outside of their home country. Those who are have really strict requirements due to international laws. 

Also many companies track employees' activity on their work issued computers. They also track ISP addresses. This is even more of a thing now with so many remotely working.

[Kal Di]

Regarding the remote jobs, there are those jobs that require approval to relocate for tax and legal reasons. However, if it is a 100% remote job, most employers won't know about their employees' relocation unless they share that information. Also, if employees are getting paid via direct deposit, many employers won't notice the difference unless their "secretly relocated" employees are updating their location on their social media profile or publishing posts about their locations.

The only thing those employees will need is a private mailbox service in the same state to manage their mail online while living abroad.

You're completely forgetting that employees are required by federal and state law to file tax and employment forms. You are required by law to use the address where you are a resident. You do NOT want to get caught with tax evasion. When living in any country you also have to be legally allowed to work there - even for a remote job. Many employers are not set up for employees outside of their home country. Those who are have really strict requirements due to international laws. 

Also many companies track employees' activity on their work issued computers. They also track ISP addresses. This is even more of a thing now with so many remotely working.

In the past, I worked for U.S. companies while living abroad. My resident state in the U.S. does not have a state income tax, but I paid all of the other ones. I do not believe in evading taxes.

As far as working remotely in other countries, visa laws vary by country. For example, Mexico says that you can be a temporary resident and work in Mexico if your employer is based in your native country. Mexico only taxes locally sourced income, which doesn't apply to expats working online. Many young Americans are working like that here (some from the Silicon Valley companies, some from Forbes 500 companies, and others).

Regarding the tracking of ISP addresses, I agree that it's becoming more of a thing. Although, the main reason is that many Silicon Valley companies don't want to pay six figure salaries (to employees who don't live in those high cost of living areas) because they would rather save money by paying them a smaller (but still above average) salary relative to the cost of living of the employee's local area. Most employees can avoid that with an excellent VPN.

[rachel83az]

A lot of remote jobs (the better ones, at least) will pay for your work equipment: laptop/desktop, (extra) monitor, etc. You cannot just pack up and move abroad with these things - that's theft. You also may not be allowed to install your own personal VPN on such equipment.

Work issues aside, moving to a foreign country is not just as simple as packing up and going. It's a HUGE hassle. It's not for the faint of heart. You should only do it if you absolutely love the other country, not because it's cheaper. If you move with the thought that it will be cheaper and easier to do so than staying in the US, you are going to be full of regrets.