Stuck in a cushy corporate job you hate — here’s how to plan your escape

If you hate your corporate job, retiring early abroad may save you.

There are many people feeling stuck in their corporate job that pays very well but kills them inside. It is not easy to find a solution to such conundrum — do you quit and be left without the steady paycheck, or do you keep toiling in that same job for years, no matter the health consequences?

Personally, I already quit corporate once when I turned 40 and went into a new career that I loved but that did not pay anything beyond the bare necessities. Not being able to sustain that level of income, I went back into corporate at 45 thinking to save as aggressively as possible and to find out where I can live well with the money I amass before I will have to quit again for the sake of both my mental and my physical health.

You may ask what options are there for living well after corporate? If you stayed for many years in a job that paid well but you hate, you are probably more cautious than others that would have quit on an impulse years ago. You probably like to weigh the pros and cons more, you are used to a higher standard of life, and you are terrified of having to lower that standard without the job.

Given all the above, it would be less likely that you would choose say an RV life or a tiny home life. Those are available too, and some people swear that they are affordable and that they allow them to pursue the life of their dreams, while others say that they actually have a similar price tag as a “normal” life yet with way less comfort.

Another option that you may not have thought about is to move abroad. Geo arbitrage is the term coined for this — earn your money in a high cost living country and relocate to live on that money in a low cost of living country. This sounds crazy at first and your spouse, family, friends would all say that you lost it if you told them. You don’t need to tell anybody yet, just to stay open to the possibility.

Consider that in all Latin America for instance you could live like royalty for $1500-$2000 USD a month as a single person, or $2200-$3000 USD as a couple. This assumes living in a gated community or a modern condo with all the conveniences you are used to from the US (but maybe no car, which you don’t need - as public transport, taxis, ubers are so cheap abroad). This also assumes eating out several times a week, having health insurance, living a good life.

In many parts of Asia the amount of money you need per month is even lower. In Europe, it is probably the same as in Latin America. Yet many expats live on less than those amounts and are very happy with their lifestyles.

If you already live in the US on those amounts, meaning that you know how to be frugal and you are already in an area with lower cost of living (kudos to you!) then you could definitely live on much less in any country abroad.

For a couple, a simple and powerful plan (I don’t mean it is easy!) would be for you to save between 100K and 150K that would cover 3–5 years of life abroad, and also pay off any debt you have. You can use the equity in the home (if you decide to sell) to help you with part of that amount needed.

Saving for 3 years of living expenses would work if you have investments that you can pull money out of without paying a 10% penalty before 59.5. If you don’t have such investments, then saving for 5 years of living expenses is best, combined with a Roth conversion ladder strategy that you start after you quit your job.

Note that if you have kids, it may be easier to wait (if you can) until they left for college, before you relocate.

Consider also that the online work opportunities exploded after the pandemic, and being “retired early” does not mean that you will sit idle all day long, or that you will take trips 365 days a year. Between the 2 of you, you could easily make a few hundred a month doing some odd online jobs, using skills you developed over the years, or picking up new skills.

You could augment your income while living abroad also by renting your home instead of selling it. This assumes finding a good property management firm that will take care of everything for you while you are away.

All I mentioned above may seem like a lot, and it is. But if you truly hate your job and if your health starts deteriorating because of it, you need to do something about this situation.

Planning your escape from corporate is like planning an escape from prison :). It takes time to “dig you tunnel” and to get out. You need a few years to accomplish this, but the quicker you start, the sooner you will get out.

I hope this blog gave you hope that there is a way out and laid down the logistics of doing it. I would love to hear from you if you are (or were) in a corporate job that you hate — how are you planning to get out?

Wishing you well and happy digging!