The rise of Michitad’s ‘digital’ lifestyle
Retirement doesn’t have to be a place. In fact, some retirees bump into a forever home.
Instead, they adopt a “digital ‘” lifestyle that allows them to travel abroad to countries where the strength of the US dollar allows them to live a luxurious lifestyle, or travel to their bucket list destinations.
This retirement model can look different from one retirement to the next. Some rely on part-time remote work to pay bills while others rely on their private income such as 401(k) withdrawals and social security, or other sources of income. Here’s what you need to know.
The benefit of a digital lifestyle
There are no rules for what this digital lifestyle should look like. Some retirees may move in and out of the area frequently, while others stay for a few months or years at a time. Either way, the retirement model gives you options.
Living in a city like Lisbon or Panama City, for example, can give you more flexibility when it comes to housing compared to what you’ll find in an expensive US city. American home rate waivers can help keep your savings, giving your nest egg mileage. And you can have the ability to travel more often – and eat eat and shop – because your budget will have more breathing room.
And remember: Digital Omad Retrires don’t have to be digital omads forever. Some omads spend ten years in another country before returning to the US
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Digital Nokunad Tech Toolkit
If you’re a digital geek – especially one who relies on part-time work – you’ll need access to the Internet and a few basic tools.
Social media platforms like WhatsApp and Zoom allow you to stay in touch with your US family and friends while avoiding expensive texting charges. International banking applications are also important for michital Omad to ensure that they can find and spend money in their favorite place. A high-speed VPN is useful because it encrypts your Internet Protocol (IP) address, giving you more protection when online. That is especially important if you plan to use WICAL WI-Fi, such as in coffee shops and airports.
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What digital retirees should know about visas
You will need a visa to stay in any country, and each country has different rules for obtaining a visa. For example, Portugal’s D7 and Postra Rica’s PensioneionAdo’s D7 and popular types of retirement visas that make it easier to stay in those countries for a longer period of time than just stopping as visitors.
Be sure to research visa requirements before choosing your destination.
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Maintaining the social safety net
One of the downsides of being a digital nomad is that you risk losing touch with long-time family and friends. Keeping in touch with weekly or monthly phone calls can help you stay in the loop, and keep you from feeling isolated.
But you also want to make time for new friends. Consider attending local classes and clubs in a new area, as well as finding communities for other spaces.
