I'm 18 and off to South America: I'd love to hear your wisdom for me

[chrischapman]

G'day, (sorry this is long, but this is my intro)

I'm Chris from Sydney, Australia. I'm 18 years old and about 10 months out of high school. My picture is me 10 months ago, taken on the last day of high school. I look much cooler now lol.

I never once bought into the whole slowlane dogma - although I did accept minor fragments as I discovered more about finance from a very early age.

I knew there was another way to live, a much better way. Until very recently, the clear antithesis to this almost universally accepted doctrine was invisible to me.

But, like the missing elements on the perodic table that physically had to exist, I knew there was a secret to massive, torrential financial success unknown to conventional wisdom.

I've read some decent personal development writings like Think and Grow Rich, How to Win Friends and Influence People, and Rich Dad Poor Dad. These certainly have their place and they clarified a lot for me.

An important other contributor to my attitude has been boldanddetermined.com by Victor Pride. That is a seriously brilliant website which I highly recommend to men, and especially young men. Victor recommended the book: the millionaire fastlane and encouraged his young entrepreneurial readers to "voraciously" read the fastlane forum.

I was curious, but ignored it for a few weeks. Then on Friday the 1st of August, I bought Millionaire Fastlane and downloaded it onto my Kindle. I consumed it over the weekend.

I'll be honest, I'm a smart guy and I get a lot of respect from my peers. I went to a great high school full of Asian geniuses and I was one of a handful who didn't go straight to university. I'm glad I got the right perspective on uni so early.

I don't muck around like most 18 year old guys and I have a winner's attitude. I've got the mind of a multimillionaire without the millions.

IMPORTANT: It means nothing if I don't do anything about it though. At the back of my mind, I was sort of scared that I was not going to execute. I don't mind failure - I'm 18 with safety nets, but I was genuinely worried that lack of execution is going to keep me down.

I was worried about that until I had the clarity I have now, boosted tremendously with my vision further crystalised by reading the Millionaire Fastlane .

I might fail. As I said, I don't care about that so much.

BUT, what I can control is that I will absolutely make certain I never ever regret that I never tried or didn't persist the way I should have. I will try. I will keep going. It may be damn tough. I don't care.

I am going to be filthy rich - well, I always knew that but I hated that I would have to work like a dog until I was much older to achieve that. In fact, I wasn't willing to pay that price or make that retarded slowlane bet. I would prefer to live free than rich.

Now, I know I can do both.

I am going to enjoy those riches with all the spare time in the world to enjoy my friends, family, spirituality, health and whatever else I please.

For the past year, I've been buying time to buy more time. I've been saving hard to buy one year (maybe 18 months) of freedom in South America. One year of living costs covered to build my online business empire and reach a monthly income that will allow me to perpetuate those efforts until the law of effection shoots me up that fastlane exponential curve.

I used to hope that would be enough time. Now, I will not let it be otherwise. I am going to make this work. There is no plan B and I have no other option. It's fastlane or the fastlane.

Thank you for reading if you got to here. I wrote this towards the end of the business day at my current 9-5 job which I'm leaving shortly.

I look forward to getting to know you all better.

Chris

 

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[Neeraj]

Welcome Chris. A very inspiring post! You seem to be on right track. I wish you all success!

 

[firmwear]

Are you going to backpack through the continent or stick around in primarily one country?

Do you speak the native language?

 

[samdee]

Good for you bro.. i'm18 too and i look forward to rubbing minds with you in the future

 

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[Fulfilled]

smart of you to save money to live in south america, I wish I thought of that when I was 16

best of luck brah~

 

[Dropout]

Que aproveche

 

[Ajay2390]

Nicely done! As said before, very inspiring. Could you give a breakdown of the cost of living? I'm looking into it at the moment and would appreciate your knowledge. Good luck!

 

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[chrischapman]

Are you going to backpack through the continent or stick around in primarily one country?

Do you speak the native language?

My plan is to be staying in Medellin, Colombia from December through to the end of May then staying in Guadalajara, Mexico until end of October. I will be staying in one place as long as I can.

I do speak Spanish. But, it's not perfect. It will improve a lot while I'm there.

 

[Guest24480]

Victor's website is brilliant and it's what brought me here as well. He influenced me to start my blog and his blog has changed my mindset on life forever. Glad he brought you here as well.

 

[chrischapman]

Nicely done! As said before, very inspiring. Could you give a breakdown of the cost of living? I'm looking into it at the moment and would appreciate your knowledge. Good luck!

Hey mate,
I don't live there so obviously I am not too familiar with all the variables. I've talked to a few people from various parts of South America and have read up quite a bit on it though.

There is one woman I know who goes to Ecuador regularly and she lives on $300-400 a month. She lives very cheap though. She lives in arguably the cheapest country in South America and lives in a coastal town where prices are lower.

When I told her a couple of months ago that I was going to live in Colombia or somewhere like it on $800 a month (I budgeted for that), a big grin fell upon her face and she said "mate, you'll live like a king".

I was talking to another guy who came to Australia from Nicaragua when he was 10. He goes back there sometimes and travels around. I said I'd budgeted for 700-800 and he laughed in my face and told me in the same words "you'll live like a king".

He said $500 a month should cover rent, food, phone, gym, transport etc.

That is still living fairly well, not amazing, but very comfortably.

I've saved up enough to live on about $700 a month for one year, and should have a bit more money coming my way so I should have close to 10 grand for living expenses by the time I leave.

I want to be safe, since there are always extra expenses and maybe I want to live better. I don't know. I'm pretty good with my money because I don't spend frivolously so I should be fine.

I assume you are a young guy, so from what I've heard, maybe budget for $700 a month to be super safe/live very well. But, I would say that $600 a month would suffice. It could be less lol, I dunno.

As I said, I'm no expert. When I arrive there in December after Canada, I'll tell you a bit more.

I hope that helped.

 

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[firmwear]

My plan is to be staying in Medellin, Colombia from December through to the end of May then staying in Guadalajara, Mexico until end of October. I will be staying in one place as long as I can.

I do speak Spanish. But, it's not perfect. It will improve a lot while I'm there.

Your plans make me I wish I was young again!

Happy travels~

 

[chrischapman]

Nicely done! As said before, very inspiring. Could you give a breakdown of the cost of living? I'm looking into it at the moment and would appreciate your knowledge. Good luck!

http://internationalliving.com/2012/11/cost-of-living-overseas/

This is good. Bear in mind, the costs quoted here are:
- for 2 people
- they live very well. for example: "Maid: Three times a week: $210", in ecuador "Rent (for a luxury two-bedroom apartment): $500"
this just shows they dont compromise on too much.
- they are writing for retiree couples who need lots of comfort typically and cant do it as rough as a determined young lad

http://ryangoesabroad.com/breakdown-of-my-monthly-costs-in-colombia/
this guy eats way too much and way too well. you could definitely minimize costs more than this guy

http://medellinliving.com/cost-of-living-in-medellin-colombia/
this guy also eats way too much he admits, he takes taxis everywhere and buys clothes there, uses the most expensive gym in the city, and lives in the most expensive suburb in the city

 

[Ajay2390]

http://internationalliving.com/2012/11/cost-of-living-overseas/

This is good. Bear in mind, the costs quoted here are:
- for 2 people
- they live very well. for example: "Maid: Three times a week: $210", in ecuador "Rent (for a luxury two-bedroom apartment): $500"
this just shows they dont compromise on too much.
- they are writing for retiree couples who need lots of comfort typically and cant do it as rough as a determined young lad

http://ryangoesabroad.com/breakdown-of-my-monthly-costs-in-colombia/
this guy eats way too much and way too well. you could definitely minimize costs more than this guy

http://medellinliving.com/cost-of-living-in-medellin-colombia/
this guy also eats way too much he admits, he takes taxis everywhere and buys clothes there, uses the most expensive gym in the city, and lives in the most expensive suburb in the city

Chris, thank you very much for your effort. I do appreciate it. Now i have some kind of idea of the cost of living out there. Thanks. I'm 24, living in London. I am looking to travel South America as well. Travelled Cuba recently only for a month and loved every single but of the Island, Culture and most definitely the People!

So, whilst your travelling SA, will you build your online business on the move?

 

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[Fulfilled]

Reading this thread has aroused my interest

My situation is similar to yours, I just turned 18, I'm planning to move out of my parents house soon and up until now, I was sure that I was going to move to London.

In London, £800 ($1300) a month for a barely liveable flat + extra for other living expenses will afford me a peasant lifestyle. That's why after reading this thread, I realised that it would be wise for me to keep my options open. I got my eyes on south america and south east asia, both would be cheap but nice and exotic to stay in.

The only thing that's stopping me from immediately heading over to live in these countries is that I won't be able to take advantage of offline opportunities as economies in these countries aren't as strong as us, uk, Australia etc. Starting up an offline b2b business will be a pain in the a$$, for example. But on the other hand, there is more opportunities in the internet that I will ever need to make all the money I want and it won't matter where I am in the world to take advantage of them.

One thing I'm curious about- how are you planning to get a visa?

 

[MoneyInTheFloor]

Hey Chris, I don't want to come through with a bunch of negativity but you should really adjust your cost of living estimates for Colombia.

Is it possible to live there on $700? Sure. I'm assuming there are locals who live on a lot less.

Are you going to "live like a king"? Not a chance in hell.

The thing is, you don't want to live like a local in a third world country, especially not in one that can go from 0 to 60 faster than you can say strong arm robbery like Medellin.

You're going to be dealing with a lot of discomfort compared to what you're likely used to and potentially finding yourself in areas you don't want to be in on that budget. There's going to be a healthy dose of culture shock and an adjustment period where you're still figuring out Medellin and living abroad in general.

Just looking at the sites you linked, one doesn't say anything about Colo, another is three years old, and the third is paying $345 to share a three bedroom. Also, none of those people are you. They may be accustomed to a different lifestyle, comfortable with different situations, or speak better Spanish/have more existing connections.

But don't take this as discouragement. GO! Get out. Explore. Live. Build your business.

You won't regret it. Just think about adjusting your budget by 50% to 100% ($1,000-$1,500). That's much more realistic based on what the people I've known have spent living in Colombia. That will still give you 9 to 12 months of living expenses without making you miserable counting every dollar and skipping taxis to walk through some Colombian hood. It's good to get outside of your comfort zones but not to the extent that it takes time away from your business or puts you in tough situations.

If budget and safety are your main concerns, consider Southeast Asia. I'm currently here and there are definitely a few cities in the area where you could make $700 work with some sound budgeting. You'll also save a fortune on airfare.

 

[CashFlowDepot]

Be careful... International Living is notorious for sugar coating things... a LOT! You may be able to live in a shared apartment for $700 a month but getting a place of your own in a SAFE area will be closer to $1200 - $1500 a month in expenses. SAFE area is the key anywhere in Columbia.

I also live in South/Central America.

This is an article I wrote, 13 Things the Offshore Gurus Will NOT Tell You about Panama

http://panamarelocationtours.com/13-things-the-offshore-gurus-will-not-tell-you-about-panama

These 13 things also apply to Columbia. Hot water is not a given, etc...

 

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[chrischapman]

Hey Chris, I don't want to come through with a bunch of negativity but you should really adjust your cost of living estimates for Colombia.

Is it possible to live there on $700? Sure. I'm assuming there are locals who live on a lot less.

Are you going to "live like a king"? Not a chance in hell.

The thing is, you don't want to live like a local in a third world country, especially not in one that can go from 0 to 60 faster than you can say strong arm robbery like Medellin.

You're going to be dealing with a lot of discomfort compared to what you're likely used to and potentially finding yourself in areas you don't want to be in on that budget. There's going to be a healthy dose of culture shock and an adjustment period where you're still figuring out Medellin and living abroad in general.

Just looking at the sites you linked, one doesn't say anything about Colo, another is three years old, and the third is paying $345 to share a three bedroom. Also, none of those people are you. They may be accustomed to a different lifestyle, comfortable with different situations, or speak better Spanish/have more existing connections.

But don't take this as discouragement. GO! Get out. Explore. Live. Build your business.

You won't regret it. Just think about adjusting your budget by 50% to 100% ($1,000-$1,500). That's much more realistic based on what the people I've known have spent living in Colombia. That will still give you 9 to 12 months of living expenses without making you miserable counting every dollar and skipping taxis to walk through some Colombian hood. It's good to get outside of your comfort zones but not to the extent that it takes time away from your business or puts you in tough situations.

If budget and safety are your main concerns, consider Southeast Asia. I'm currently here and there are definitely a few cities in the area where you could make $700 work with some sound budgeting. You'll also save a fortune on airfare.

Thanks for the balanced view. It's definitely true, there are a lot of issues living in a 3rd world country. It's especially true coming from Australia.

As I said, I'm not an expert on the living costs since I've never been there and all I have is second hand sources. This is just what I've been told.

Fortunately I've got people with whom I can stay that I trust and that should cushion the move. My uncle is joining me too for the first 3 months anyway, and while he doesn't know any Spanish yet, only I do, it will probably help a bit too.

The considerations you mention are definitely things I am going to think about more. Right now, I have enough to live on $800 a month for a year but should have another $2500 coming my way over the next few weeks. That should put me at about $1000 a month.

Thanks for your advice mate.

 

[chrischapman]

Reading this thread has aroused my interest

My situation is similar to yours, I just turned 18, I'm planning to move out of my parents house soon and up until now, I was sure that I was going to move to London.

In London, £800 ($1300) a month for a barely liveable flat + extra for other living expenses will afford me a peasant lifestyle. That's why after reading this thread, I realised that it would be wise for me to keep my options open. I got my eyes on south america and south east asia, both would be cheap but nice and exotic to stay in.

The only thing that's stopping me from immediately heading over to live in these countries is that I won't be able to take advantage of offline opportunities as economies in these countries aren't as strong as us, uk, Australia etc. Starting up an offline b2b business will be a pain in the a$$, for example. But on the other hand, there is more opportunities in the internet that I will ever need to make all the money I want and it won't matter where I am in the world to take advantage of them.

One thing I'm curious about- how are you planning to get a visa?

On an Australian passport at least, i dont need a visa for 90 days in Colombia, but i can extend that by another 90 days when I'm there for a fee. So I can stay there 180 days, although there are potential issues like them not even giving me 90 days to begin with - i wont get into that.

And, in Mexico I don't need a visa for 6 months. In each country I can't stay more than 6 months in a calendar year (Jan - Dec period). So that's why im alternating.

 

[CashFlowDepot]

The cost of living in Ecuador is considerably cheaper than Columbia. Just because they are both in South America you cannot make a comparison.

Ecuador is on the path to another economic collapse so it is not a good place to settle down.

see this

http://www.bloomberg.com/news/2014-08-05/bitcoin-like-money-is-ecuador-s-dollar-saving-plan.html

 

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[Phones]

You can rent a room for 250€-280€ in Lisbon, safe place, cheap living cost, beach coast some miles away, and nice weather. Bus + metro for 35€ / month. Free wireless almost everywhere.

The start-up scene/meet-ups is growing a lot in Lisbon, I haven't been involved tho.

PS: Almost everyone speaks some English, and almost everyone under 30 can have a regular conversation.

 

[John Page]

Congratulations on your upcoming adventure.

I'm from Argentina and I'm currently living there. I don't know about other countries in South America right now, but it's very expensive here. So I thought I'd give you an idea about this particular country. Although I don't know if it was in your plans.

One US dollar is worth around 12.7 pesos. The official numbers are 1 dollar=8 pesos, but that's rubbish. They pay you 8 pesos for one dollar, but if you want to buy one dollar, they charge you 12.7. Everything in Argentina is so expensive that the advantage after exchange from dollars is not that noticeable.

Many people I know (lower middle-class to middle-class) earn about 350-600 US Dollars a month.

With 700 hundred dollars you could live okay. But not luxuriously.

Best of luck to you.

 

[chrischapman]

Congratulations on your upcoming adventure.

I'm from Argentina and I'm currently living there. I don't know about other countries in South America right now, but it's very expensive here. So I thought I'd give you an idea about this particular country. Although I don't know if it was in your plans.

One US dollar is worth around 12.7 pesos. The official numbers are 1 dollar=8 pesos, but that's rubbish. They pay you 8 pesos for one dollar, but if you want to buy one dollar, they charge you 12.7. Everything in Argentina is so expensive that the advantage after exchange from dollars is not that noticeable.

Many people I know (lower middle-class to middle-class) earn about 350-600 US Dollars a month.

With 700 hundred dollars you could live okay. But not luxuriously.

Best of luck to you.

Thanks for the Argentine perspective. I have heard it is very expensive there compared to other Latin American countries, and the prices are rising really quickly too which adds to it.

I'm surprised they don't earn more to be honest with you. $600 a month is $7200 a year. If that's what most people earn in one of the richest countries in SA then that is not good.

I hear also that SA is very unequal in terms of income; there is a small middle class.

Moreover, I actually concluded that I couldn't live in Argentina at all for under $1000. If you say I could get by on 700, that's good news to me.

Cheers mate

 

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