• An American family who moved to Nicaragua for a year to live cheaply ended up blowing their $30,000 budget thanks to unexpected costs - but still spent less than life at home in the US

    4 days ago - By Business Insider

    Mark and Amanda Tew and their four children spent a year on a mini-retirement in Nicaragua.
    Over six years, they saved $30,000 while paying off debt and building an emergency fund, all of which they accomplished by living below their means and maintaining side hustles.
    That $30,000 should have been enough for the year, but they were surprised by big expenses like health insurance, a car, and schooling for their kids - plus a cancer diagnosis for Mark just before they left.
    Even with the unexpected costs, including an extra month in Nicaragua, they still spent less than they would have in...
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  • I'm a part-time doctor earning $250,000 a year and I plan to retire next year at age 43 - here's what a week of my spending looks like

    I'm a part-time doctor earning $250,000 a year and I plan to retire next year at age 43 - here's what a week of my spending looks like

    4 days ago - By Business Insider

    The Physician on FIRE is a part-time anesthesiologist and blogger who plans to retire next year at age 43.
    He abides by the "Live on Half" strategy: Spending 50% or less of take-home pay and investing in passive index funds.
    For Business Insider's " Real Money " series, he shares how he and his wife spent their money during a week in July.
    Want to share a week of your spending? Email your money businessinsider.com.
    A few years ago, I discovered the concept of financial independence. I was 39 years old and planning to work at least another 15 years in my chosen field of anesthesiology...
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