were to guests, Dwight recognized that they could all be easily fixed without too much effort or investment. A few small changes could transform the struggling business from a burden into a potential money-maker.

As soon as the purchase papers were signed, Dwight and his Italian business partner rolled up their sleeves and got to work reviving the B&B.

The prospect of starting a dream business in a beautiful location is often a driving factor for retirees planning to move abroad. After years of toiling away in a stressful career, opening a beach bar, vineyard, or a B&B, where you can enjoy the good life while bringing in an income, is an ideal scenario. But as tempting as it is to build from the ground up and bringing your vision to life one brick at a time, you’re far more likely to find that perfect balance between dream lifestyle and business success if you buy turnkey.

A turnkey business is one that’s already established and functional. You can buy it one day and open for business the next. For expats looking to make the most of their retirement and avoid the stress of building from the ground up, this is by far the best option. Not only does it save you time, effort, and money, for those with a keen sense of how to improve a business, buying turnkey offers a real money-making opportunity, particularly in the tourism

Launch Your Retirement with a Turnkey Business

By Jason Holland

IN THIS ISSUE

4 Here’s How You Claim Thousands in Tax Deductions as a Travel Writer

5 Cashing in on the Trend for Gluten-Free Food in Panama’s Highlands

7 3 Strategies to Pocket $1000, a Month—and Upgrade Your Life

8 The Secret to Early Retirement:Cut Your Healthcare Costs

13 Enjoy a Cruise Experience at 50% Off the Rack Rate

Every Retirement Needs Its Ikigai

In retirement Dwight Stanford moved to Italy and bought a plot of land with a B&B where he could

start his own vineyard.

Continued on page 10…

From the Editor

Continued on next page…

Your Guide to a Richer, More Rewarding Life

May 2019

It was no surprise that Missouri native Dwight Stanford, 61, ended up in Italy. He always loved the country, so when

he retired from a 25-year career as a general surgeon, that’s where he moved. Then, in 2007, he partnered up with an Italian friend and together they bought a piece of land for a vineyard. “It just so happened that the land we wanted had a functioning B&B on it, so it gave us something to do for three years while we were waiting for the first harvest,” says Dwight.

The B&B, Il Nascondiglio di Bacco, was a beautifully restored 500-year-old farmhouse with seven guest rooms on the hills of Le Marche. However, under its previous owner it had never been very successful. Dwight put this down to several weak points in the business. “First of all, their prices were double what everyone else was charging in the area. Their breakfast was awful—the cheapest cereal, jam, and milk. The tables, chairs, and the bathrooms décor were all plastic. My feeling was they ran out of money restoring the house and did the best they could after that, without any success. The website for the B&B was very basic and hard to navigate. And they also had some strange things like cut up shower curtains under the sheets to protect the mattresses,” he recalls.

As off-putting as many of these things

International Living’sSavvy RetireeThe

A retirement plan, as it’s commonly understood, rarely ever fulfils the goal it sets itself—which is, one

might surmise, to plan a retirement. Like a bride who plans her wedding before she finds her groom, or a business startup that creates its branding before it decides what service it’s going to provide, retirement plans that focus only on solving the issue of income are missing the essential ingredient.

On the Japanese island of Okinawa, a notable Blue Zone, where locals frequently live to be centenarians, one of the key concepts they believe accounts for their longevity is something they call ikigai. Roughly translated, ikigai means “the reason for being,” or, if you like, the reason for getting out of bed in the morning. Hector Garcia, the co-author of Ikigai: The Japanese Secret to a Long and Happy Life says that ikigai is “the intersection of what you are good at and what you love doing,” and it’s an essential ingredient when it comes to living a long and fulfilling life.

You won’t find any reference to ikigai in your income portfolio. Mention the term to your retirement planner and they’ll give you a blank look. But nevertheless, you can’t have a retirement without it.

Most people are out of the home for a minimum of 50 hours a week while working. This means that in retirement, you have an extra 50 hours to fill every week for the rest of your life. But guess what…with the right kind of ikigai, you’ll cherish every minute of it.

In this month’s cover story you’ll read about people who have taken their retirement plan into their own hands to create dream incomes that not only keep their bank accounts topped up but also give them a sense of fulfilment that no

The Savvy Retiree | May 20192

on travel costs.This summer, Amtrak is offering massive discounts for group travelers. Their recently-announced Share Fares program will offer a discount on each additional ticket when you purchase as a group. The more people you add to the group, the greater the discount. So, while the first traveler pays full price, the second traveler will receive a 15% discount, the third will receive a 60% discount, and the fourth will get 70% off the base price of a ticket. That means the entire group gets 35% off if they split the cost of the tickets.The Share Fares discounts are valid for travel on the Amtrak Northeast Regional from Washington, D.C., to Boston, and on the national network on some of the most popular trains, including the California Zephyr, Capitol Limited, City of New Orleans, Cardinal, Empire Builder, Southwest Chief, Texas Eagle, Coast Starlight, Lake Shore Limited, Palmetto, Silver Star, Silver Meteor, and Crescent.The Share Fares offer is limited to four people per group and only available one way. Reservations must also be made three days in advance of the trip. To take advantage of the discount, visit Amtrak.com.

When booking a flight, it’s next to impossible to tell whether you’ve got a good seat until it’s too late to change it. But a website called

My TravelDid you know that you can recover much of the cost of a missed reservation, even if you’ve paid in full? It happens to all of us sometimes. You’ve booked a weekend away in some quaint, country town, only to have something like a family obligation, work, emergency or illness intervene with your plans. When you call up the hotel to cancel your reservations, you find that it’s non-refundable.However, you may have options.Using sites like BuyaTimeshare.com, Vacatia, and Roomer, you can list your non-refundable reservations at a slightly cheaper price, so somebody else can enjoy the hotel room you booked before life intervened, and you don’t have to worry about losing money. Of course, these sites go both ways. You can also book the rooms from people who can’t make their reservation. If you’re looking for a low-cost hotel room you’ll find innumerable options all over the world at discounted prices. Roomer displays the top deals for places near you, in case you don’t want to venture too far; on Vacatia, you can rent a resort residence anywhere in the U.S.; and on BuyaTimeshare.com you can rent a timeshare offered by someone who isn’t able to fill their own allotted time. These are great options for nabbing heavily discounted vacations.Planning to explore the U.S. this summer? If you do it with friends or family you can save up to 35%

Continued from page 1

SAVVY TIPSmoney can buy. Laura Diffendal and her husband, David, moved to the Caribbean country of Belize where they bought a small property with three run-down cabanas on it. Today, their small project has turned into a luxury boutique hotel, and their life in the Caribbean is a postcard picture come to life. Likewise, when Dwight Stanford retired from his career as a surgeon, he bought a piece of land in Italy to build his very own vineyard. Restoring a 500-year-old farmhouse that was on the property, he created a thriving B&B business, and now enjoys a laidback life in the hills of Le Marche.

Retirement is more than just a pension; it’s a blank canvas waiting for you to add some color.

Lynne Martin found her ikigai with five years of travel and adventure that started on her 70th birthday. Without a permanent address, she’s uncovered savvy ways to prolong her journey as much as possible, including a way to take luxury cruises for 50% off the price tag. She explains how in this issue (p.13).

And, if you’re not one to wait for the starting gun, financial contrarian Jeff Opdyke will show you the best way to free up your income and take an early retirement (p.8).

There’s no one-size-fits-all retirement plan, but within these pages, and in each issue of The Savvy Retiree, you’ll find lots of inspiration to help you not only bankroll your retirement but fill it with ikigai too.

Paul O’SullivanManaging Editor

Publisher Jackie FlynnEditorial Director Nazareen Heazle Managing Editor Paul O’SullivanCopy Editor Jason HollandGraphic Designer Rob McGrathPhoto Editor Hugo GhiaraAdvertising Helen Daly; Fax (353)51-304561; Email: advertising@internationalliving.com

© Copyright 2019 by International Living Publishing Ltd. All Rights Reserved. Reproduction, copying, or redistribution (electronic or otherwise, including online) is strictly prohibited without the express written permission of the Publisher. The Savvy Retiree is published monthly. Copies of this e-newsletter are furnished directly by subscription only. Annual subscription is $59. To place an order or make an inquiry, see: www.internationalliving.com/about-il/customer-service. Send address changes to International Living’s The Savvy Retiree, International Living Publishing Ltd., Woodlock House, Carrick Road, Portlaw, Co. Waterford, Ireland. For editorial inquiries, see: www.internationalliving.com/about-il/write-for-il. The Savvy Retiree presents information and research believed to be reliable, but its accuracy cannot be guaranteed. There may be dangers associated with international travel and investment, and readers should investigate any opportunity fully before committing to it.

May 2019 InternationalLiving.com

Savvy Retiree

The

Man cannot discover new oceans unless he has the courage to lose sight of the shore.—Andre Gide

The Savvy Retiree | May 2019 3

Seatguru.com is trying to change that. Listing 1,154 aircrafts, they can offer you great advice—on most aircraft seats. For instance, they’ll tell you what seats are close to the toilets. They will also let you know if a seat does not recline or which seats have the most legroom. Pro tip: If traveling as a couple, book an aisle and a window seat. If the flight is not full they will usually leave the middle seat empty. If it is assigned to a fellow passenger, simply ask if you can swap seats. No one ever chooses the middle seat.

My MoneyYou might be due unclaimed money! State treasuries throughout the U.S. have more than $43 billion in unclaimed funds, according to The New York Times. This money is just sitting around, waiting for the right people to come along and collect it.In case you’re wondering, this isn’t money you might have dropped on the street. The money you could be due comes from unclaimed property in bank accounts and safe deposit boxs, stocks, mutual funds, bonds, dividends, uncashed checks and wages, insurance policies, CD’s, trust funds, utility deposits, and escrow accounts.There are multiple websites where you can find out if you’ve any unclaimed money coming to you, including the National Association of Unclaimed Property and MissingMoney.com. It only takes a minute to check.

There is a new internet browser in town and it will pay you to surf the web. Positioning itself as a strong competitor to Google’s Chrome browser, the Brave browser launched earlier this year with a very intriguing business model.They are offering users who volunteer to see ads, 70% of the revenue the ads generate. This means that for every ad

obesity, and even heart disease, cancer, and dementia.Not only can eating earlier improve your blood pressure, it will also reduce the whole-body inflammation that can cause a gradual impairment of kidney function. Medicare has unveiled a new app that tells you what services are covered. If you’re not certain whether Medicare will pay for a particular test or medical procedure that you doctor recommends, you can now find the answer on your phone. The Centers for Medicare and Medicaid Services (CMS) recently released What’s Covered, which is available on both GooglePlay and the AppleApp Store.The new app will answer your Medicare coverage questions, provide information about your costs, and inform you of free preventative services. If you’re looking for a particular service or test, the app makes it easy to navigate to what you need. It also lets you call the Medicare hotline (800-633-4227) and links you to the Medicare.gov website. We all need motivation to lose weight and get fit, but sometimes we need a little more than words. And what better way to get fit than to make money while doing it? An app called HealthyWage allows people to place “bets” on their weight loss and earn as much as $10,000 if they meet their goals. You simply choose how many pounds you want to lose, how long you need, and how much money you want to bet. If you meet your goal on time, HealthyWage will pay for your winnings. Additional prizes are available for keeping those pounds off long-term.However, it’s not all free money. If you don’t meet your goal, you lose the money you wagered. Then again, the prospect of losing money can be just as motivating as winning it!

that pops up on the side of your screen, you could be making a small profit. Even without changing your browsing habits, this could really add up over time.However, users will not be paid in cash, but in BATs (Basic Attention Tokens,) the cryptocurrency designed to integrate with the browser. BATs are not yet exchangable for cash, but they soon will be. You will also be able to exchange them for perks and rewards such as vouchers and gift cards. Brave looks and feels similar to Chrome, it’s fast, and it also blocks ads that aren’t a part of its new reward system. But before you get too excited about being paid to be on the internet, keep in mind that this service is still in its infancy, meaning they won’t have many ads for you to look at just yet. You can download the Brave browser and try it for yourself right here.

My HealthIt’s not all about what you eat, when you eat may be nearly as important.Studies have found that eating your meals earlier in the day, ideally between 8 a.m. and 2 p.m., lowers high blood pressure and causes a decrease in triglycerides and LDL (“bad” cholesterol) and an increase in beneficial HDL cholesterol.According to scientists, your diet should align with your body’s circadian rhythms—which dictate your waking and sleep cycle. The time-specific, daily release of hormones determines when you get hungry and how much you eat, as well as your body’s metabolism—how efficiently you utilize fats, carbohydrates, and other nutrients.Most people get hungriest at night. But the best time to eat most of your daily calories is before 2 p.m. The reason being, the body’s cells respond more readily to insulin early in the day—important for food metabolism and healthy weight maintenance, as well as preventing diabetes.Because insulin resistance (the reduced ability of insulin to transport glucose into cells) is higher at night than during the daylight hours, eating most of your daily food intake late can cause serious health problems, increasing the risk for diabetes,

SAVVY TIPS

The Savvy Retiree | May 20194

Here’s How You Claim Thousands in Tax Deductions as a Travel Writer

By Terri Marshall

The life of a freelancer is a life without bosses, a life without regimented schedules, and, if

you’re a freelance travel writer, it’s a life filled with trips all over the world. But what most people don’t know is that it’s also a life of tax deductions. And while that doesn’t sound as exciting as the other perks, it’s a very important benefit.

For the past 12 years I’ve been a freelance travel writer visiting more than 30 countries across five continents, with well over 1,000 articles published. Before that I was a tax accountant. It wasn’t nearly as much as fun as jetting around the world discovering exotic locales, but it taught me some valuable lessons about making the most of tax deductions.

As a freelance travel writer, I can now write off a significant portion of my income every year. In fact, last year I wrote off over $25,000 in expenses.

However, there is a silver lining. It turns out there are many deductions available for freelance businesses—even if that business is a dream job like travel writing. Here are a few examples of ways you can reduce the amount of taxes you pay each year.

Use the Schedule StrategyWhile many of your travel expenses

are paid for you when you’re a travel writer, sometimes it’s nice to mix business with pleasure and get some writing done on a personal trip. For example, I travel at least once a year with my grandkids. It’s one of the highlights of the year for me, and I think it’s a highlight for them too. Since I write about multi-generational travel, I use a portion of the time we spend traveling together for articles—which makes it a business trip.

By scheduling the “work” portion of the trip at the beginning and end of my time with the grandkids, I can write off the entire trip as a business expense. It’s just a simple scheduling strategy,

but it nearly doubles the length of my time with the grandkids, giving us more opportunities to make those priceless memories. I can deduct everything from the extra nights at the hotel, to the extra days with the rental car, to food, you name it.

Deductions for the Tools of the Trade

Travel expenses aren’t the only thing deductible for freelancers. We all need a laptop, right? What about an internet connection for article research? And you’re certainly going to need a cell phone. All of those expenses are deductible. Some—like the cost of your laptop—are 100% deductible. Others are a percentage based on the portion used for work and the portion used for personal matters.

For instance, your camera might be deductible. Even if you consider yourself a writer and not a photographer, if you use any of your photos for your articles, that camera is a deductible expense. If you have a website to showcase your work, you can deduct the expense of the website designer and the hosting service. The same deductions apply to your entire freelancing inventory.

Perks Beyond PajamasWorking from home is a gift. I love

not setting an alarm clock. I love not having to get dressed and put on make-up every day. But wearing pajamas all day and avoiding the New York subway isn’t the only perk of working from home. Your home office is a tax-deductible expense, too.

The simplified method for this deduction is based on the square footage of your office compared to the total square footage of your house. Comparing those numbers will give you the percentage of household expenses that are deductible as a home office expense. That includes utilities, insurance, and more. This works even if you’re renting an apartment. There are rules and

limitations, of course, but if you have a room exclusively used as an office, this is a deduction you’ll want to take advantage of.

Keep Networking and Learning…and

Deducting the CostNetworking and business

development is a big part of having a vital freelance business. Most of the editors I work with are people I’ve met at networking events in New York or at conferences for travel writing groups I belong to. For example, I’m a member of NATJA (North American Travel Journalist Association) and SATW (Society for American Travel Writers). For each I pay an annual membership fee and a fee to attend the conference. And I deduct every cent of those fees on my tax returns. It’s the best version of an almost free education you can get in the U.S.

Maximize Your Tax Deductions in 8 Steps

1. Keep all travel receipts, including hotels, meals, airfare, train tickets, etc.

2. Make notes on your receipts describing the nature of the expense.

3. Keep a mileage log in your vehicle to track miles used for business.

4. Set up a spreadsheet to track all of your expenses and income.

5. To be eligible for the home office deduction, designate a space in your home that is used exclusively for your business.

6. Keep receipts for all office supplies including computer software, printer cartridges, paper, pens, etc.

7. Don’t forget to keep track of your self-employment health insurance premiums—those are also deductible.

8. Contributions to retirement accounts can provide additional tax deductions. Consult a tax or financial advisor to determine how much of your contributions are deductible.

PORTABLE INCOME

The Savvy Retiree | May 2019 5

BRICK-AND-MORTAR BUSINESS

Cashing in on the Trend for Gluten-Free Food in Panama’s Highlands

By Beth Abrahams

The life of a chef and baker in Alberta, Canada was a hard one. Coleen Hunt used to drive three

hours through the extreme cold to sell her gluten-free food at area farmers’ markets. As she was on the road at a pre-dawn 5 a.m., often in temperatures of -40 to -50 F, the snowplows had not cleared the roads, making her journey all the more treacherous. And this was only after she had prepared all her food for the day.

“I canned 8,000 to 10,000 quarts per year of 100 different varieties of gluten-free foodstuffs, went through a thousand pounds of rhubarb, and cooked over 100 varieties of gluten-free frozen meals and ‘you bake it’ breads, working long hours in adverse working conditions,” says Coleen.

“Eventually I grew tired of the harsh conditions and unholy hours under which I functioned and began to look outside of Canada for a place to relocate myself, my mom, and my business. I realized that, with my drive, my talent, and my recipes, I can live and work anywhere in the world where people need, or just want, a gluten-free diet.”

Now well established as more than just a fad, the past decade has seen gluten-free food options become a staple of most supermarkets across North America and Europe. For those who suffer from celiac disease, going gluten-free is a necessity. But the diet has found a cult-like following beyond its target consumer, with many celebrities and athletes self-diagnosing their gluten sensitivity, including Gwyneth Paltrow, Russell Crowe, Kim Kardashian, and Novak Djokovic. The result is a demand for gluten-free food options that well outstrips the variety available. As gluten is present in most foods, it means that there is almost infinite opportunity to create gluten-free alternatives. If you can make a product that people like, finding people to buy it is rarely an issue.

Coleen’s ability to create good gluten-free food meant that she could set

up shop anywhere in the world where the diet had grown in popularity. Soon after she made this discovery, she started researching possible destinations. An article on the “10 Best Places to Retire” inspired her to look at Panama, and it quickly rose to the top of her list.

“At first it was all about climate,” says Coleen. “I had lived for so many years in a frigid, inhospitable environment, so I needed a change. “However, there were many other compelling reasons to consider Panama. One consideration was the cost of starting a business. Panama was more than affordable and offered a welcoming business community, as well as a clientele that was knowledgeable about my product and able to pay the prices—gluten-free goods are a bit higher in price than traditional baked goods.

“Also, I discovered I would be filling the same void in the marketplace that I filled in Canada, as I could potentially

be the only gluten-free resource from the Costa Rican border to Panama City.Taking all these reasons into account, I felt a road trip was in order.”

Coleen traveled throughout the Panama, from Pedasí to El Valle, David to Las Tablas but didn’t find a town that gave her that “I’m home feeling.”

She knew that when she found the perfect place it would elicit a gut reaction, and that is exactly what happened when she drove down the hill that brought her into the town of Boquete.

A cool-weather mountain retreat in Panama’s highlands, Boquete is surrounded on all sides by flowers, fruit trees, coffee farms, and brightly colored songbirds. A fine, refreshing mist (known as bajareque) creates almost-daily rainbows and keeps the residents cool and happy.

It’s this beauty, plus the comfortable and temperate climate, that makes Boquete such a popular choice for expat living.

While Coleen knew to trust her gut, as it had never let her down, she was a seasoned businessperson and wanted to confirm her instinct by doing her due diligence. What she discovered was

When Coleen Hunt moved to Boquete, Panama, she found immediate success selling her gluten-free food at the Tuesday expat market.

I was one of only 10gluten-free suppliers in

all of Panama.

The Savvy Retiree | May 20196

BRICK-AND-MORTAR BUSINESSthat the demographics of Boquete were perfect for what she wanted to offer. The community was made up of expats from all over the world, as well as affluent Panamanians with a knowledge of, and need for, gluten-free foods.

While there are many Panamanian bakeries and two gourmet expat establishments in the town, none catered to the health needs of people with celiac disease. “As in Canada, I was able to approximate that one person out of 100 suffers from celiac disease. Other customers simply preferred a gluten-free diet, and in doing my research, I didn’t find a single business catering to this need. I learned that many people were not even aware they had the disease; it was only through the advent of testing that their condition came to light.”

After she moved to Boquete in August 2015, Coleen cooked from her apartment in Baja Boquete—which cost her half the price of a comparable apartment in Canada. With limited space, she started out by limiting her offerings to breads, desserts, rolls, and dessert trays.

At first, she sold only at the Tuesday expat market. But as her business grew so did the need for a bigger space to house her burgeoning store of equipment and supplies, which had grown with the expansion of her menu. On top of that, many people were not able to adjust their schedules to meet the three-hour window of the market, so she realized she needed to secure a different, more accessible location. “As a result, I made the decision to move forward on my own and open a brick-and-mortar bakery in Boquete,” says Coleen.

She did not have to search very hard for suitable premises. Seeing an empty storefront, she said to herself, “I think I will just go in and see what happens,” and what happened is that she signed a lease. “I signed the lease in February of 2017 and everything was in place to open up by August.”

Her landlord was most accommodating, charging her a very fair rent, both for the size of the space and for the charming patio area and parking spaces. While she is located just outside of town, which accounts for the affordable rent, Coleen still gets daily

foot traffic.To advertize her new enterprise,

she handed out cards and pamphlets to everyone she met and to her existing clients at the Tuesday market, where her mom still mans a table. She also tried creating a mailing list but that didn’t produce results. Except for Tuesdays, Coleen runs the bakery with both her mom and an assistant.

In the first two months after opening, Coleen created hundreds of different varieties of baked goods and became successful immediately. “By following my passion, I discovered my purpose on earth: that I could do gluten-free that is tasty. My gift is that I am a fantastic gluten-free cook.”

From start to finish, it took Coleen 18 months to open the doors to her bakery.

First, she needed to find a lawyer to help her secure her Friendly Nations visa. That completed, she was able to apply for a work permit. The Ministry of Health then needed to make an appointment to approve the design of the facility. Once approved, she needed to work with that department again to acquire two health

cards, one of which must be renewed yearly. Seven months later she threw a grand opening party.

“The hardest thing about this business was getting people to know we’re here,” says Coleen. “Social media, Facebook, and Instagram helped, and by January 2018 I acquired approximately 1,200 new customers.” Her business, Gluten-free Gold, is one of only 10 gluten-free suppliers in all of Panama, and the only one outside of Panama City. In fact, she calculates that 50% of her clients are Panamanian, coming to her from Panama City for their food.

“By far, my clients are my best promoters,” says Coleen. Through friends, she has developed important contacts in the city including “Women Entrepreneurs of Panama.”

Her marketing has included a visit to Panama City to attend the Celiac Awareness Day of Panama (Fundacion Celiacos de Panama) held in the Dom del Parque Omar where she had a table.

Still a hard worker, Coleen starts her day at about 3:30 a.m. by getting her breads and rolls in the ovens. Her assistant arrives by 7:30 a.m. to help handle the breakfast rush.

Though the baking life is still a challenge, her new, glorious surroundings, the perfect Panamanian climate, and wonderful friends, all create a balance better than any she had struck back in Canada.

The town of Boquete, located in the Panama highlands, brims with lush colors year-round. It’s elevation gives it a cooler climate, making it very popular with expats.

If you can make aproduct that people like,

people will to buy it.

The Savvy Retiree | May 2019 7

SOLUTIONS

Teach Chinese Kids English: All You Need Is a Laptop and WiFi

By Bonnie W. Hayman

3 Strategies to Pocket $1,000 a Month—and Upgrade Your Life

By Jodie Burnham

If you had an extra $1,000 every month, what would you do with it?

Would you travel more, take up a new hobby, invest it? Or would an extra $1,000 simply make life more comfortable, allowing you to enjoy more dinners out or trips to the theater?

Reaching a financial goal of $1,000 a month isn’t a difficult task, but this added income can enrich your lifestyle well beyond what you’d ever imagine—whether you want to fund full-time travel or just top up your retirement budget. And you can have a lot of fun achieving it, using your existing skills, knowledge, and interests.

Our friends Pete and Betsy Wuebker turned their creative talents into an income that enabled their early retirement, and has sustained them ever since. Using Zazzle, an online print-on-demand store, they were able to upload their graphic designs so they could be printed onto a whole range of products—such as t-shirts, mugs, picture frames, and even shoes—and then sold.

Neither of them are designers by trade, nor do they own any of the stock being sold. They simply create and upload designs, like funny quotes and photos. From there, Zazzle does the rest, while Pete and Betsy watch the paychecks roll in.

How you decide to make your $1,000 a month is up to you, but there are many creative ways you can go about it so that it doesn’t ever feel like work or impact your desired lifestyle. Here are the three main income types to consider, each requiring varying time inputs and commitment levels:

Active IncomeAn active income is the one you’re

probably most familiar with. It basically means trading your time for money.

If you’ve been an employee during your working life, you might not be too enthused about creating another active income in retirement. However,

employment is just one route you can take for this type of income. There are much better options available that can give you more control over when you work, where you work, how much time you put in it, and how much fun you have.

By becoming a freelancer, you can regain control over you active income. And there’s hardly any limit to the freelance opportunities out there. If you’re creative, why not try your hand at article writing, design and layout, video editing, or recording voiceovers? If you’re detail orientated, try proofreading, editing, research, or book-keeping. If you enjoy interacting with people, there’s always work available in customer service, consultative selling, social media management, or teaching English online.

Sharon Bowater is a freelance transcriptionist who travels the world full-time. She has two clients and works 25 hours a week to make $1,000 a week, giving her plenty of time to explore any location she desires to experience.

To become a freelancer, all you need is a laptop and internet connection, so you probably already have everything you need to get started.

Leveraged IncomeWith a leveraged income, you

redeploy your working hours more creatively, substituting an hourly rate for income with no upper limit.

Coaching and consulting are great examples of how you can move from an active income into a leveraged income using your skill set and accumulated knowledge.

Hosting one-on-one sessions, coaches and consultants are limited by their available hours. However, by valuing their time and lifestyle more, the same amount of income made in one day can be earned in just one hour by holding group sessions, or hosting weekend workshops or retreats.

Using the same “economy of scale,”

a coach or consultant can multiply their income and reach more people globally by recording one of their weekend workshops and selling it as a digital version of the program or as an online course.

Anyone can create a digital information course or how-to guide by using their knowledge and skillsets. Hannah Dixon was a virtual assistant, working for an hourly rate. Then she made her own course, creating a leveraged income teaching others how to become virtual assistants themselves.

Another example of leveraged income is being an affiliate promoter for services or products. This is basically a form of advertising through recommendations. If you have a blog or reasonably popular social media accounts, you can get paid to use your platform to promote affiliates.

Passive or Residual IncomeThis is the holy grail of incomes:

earning over and over from a one-time activity, with no extra work.

Remember Pete and Betsy? Their print-on-demand shop is also a great example of a passive income. Once they upload their designs, their products can sell repeatedly for years, with no extra work needed. Other examples of passive incomes include earning royalties from books you publish on Amazon, or selling photographs or video clips through stock photography websites.

Of course, with the internet, there are virtually unlimited ways to earn an extra $1,000 a month. And it doesn’t all have to come from the same source. You might decide to freelance for just one day a week, upload stock photos for a passive income, or leverage your skills and teach a course online. Doing what you enjoy, you can create a fantastic retirement without sacrificing the easy-going lifestyle that goes with it.

The Savvy Retiree | May 20198

would struggle to afford much beyond some aspirin and a few Band-Aids if not for our insurance plans.

But an obvious solution presents itself. As you might recognize, these statistics are entirely U.S.-based. Travel beyond U.S. borders and healthcare isn’t the financial ball and chain we’ve come to expect. If you desire to retire early, and if healthcare costs are your biggest concern, then retiring overseas is a no-brainer.

High-Quality, Affordable CareMy dental fears were misplaced.

That Prague dentist—fully Western-trained and operating in a suite that looked identical to my last dentist in Los Angeles—cost me less than $40. The potential extraction of a wisdom tooth (ultimately not necessary) was going to cost me less than $80. Who cares about insurance when high-quality healthcare is so affordable out of pocket?

Expats who have lived overseas for any amount of time already know this fact, but the reality of life abroad is that healthcare outside the U.S. is high-quality and affordable.

We generally have high-quality healthcare in the U.S., for sure (though the U.S. ranks dead last among the world’s developed-economy healthcare systems). What we don’t have is affordability. And that’s where getting away from U.S. shores can make a lot of sense if retiring early is your dream.

Consider the experience of Curt Noe, a former New Jersey traffic engineer who retired to Medellín, Colombia, arriving with pre-existing cancer. While he expected problems getting health

COMMONSENSE NUMBERS

It’s quite telling that in today’s world, the fear we get from visiting a doctor or a dentist isn’t so much from the

potential medical issues they might discover but from the costs we might have to pay as a result.

I was musing on this dread of healthcare costs while attending an appointment with a dentist in Prague during my first month living as an expat in the Czech Republic. I’ve had company-sponsored insurance nearly all my adult life. And, until the fall of 2018, I lived my entire life in the U.S., where, as you well know, the healthcare system is madly out of whack with the financial reality of the average American family. So, as an expat with a temporary travel-insurance plan that provided no dental coverage, I approached the door to the clinic with serious financial trepidation. Had the pain in my wisdom tooth not been so horrific, I would have retreated.

I’m not the only one who has such fears. Healthcare costs are one of the biggest worries Americans harbor. In fact, U.S. brokerage firm TD Waterhouse recently released research indicating that for well over half of Americans, the greatest impediment to our desire to retire early is the cost of healthcare. These are people who have a certain level of wealth—at least $250,000 in investable assets—so we’re not talking about folks who are struggling.

The fear of healthcare costs is well-founded. HealthView Services, a leading provider of cost-projection software for the healthcare industry, notes in its 2018 Retirement HealthCare Costs Data Report that retiree healthcare expenses are projected to rise at an annual pace of more than 4.2%, well above the U.S. inflation rate (currently less than 2%) and well above Social Security’s cost-of-living adjustments, which have averaged less than 1.4% a year for the past decade. Moreover, when even a routine check-up or an initial consultation with a doctor easily costs hundreds of dollars, it’s no wonder so many American families

insurance in a foreign land, he says, “I was pleasantly surprised that I was completely covered by the national health plan after only a six-month waiting period.” Better still, Curt says that after flying back and forth to the U.S. for second opinions, he realized he didn’t need to. “My U.S. doctors said that the care I am receiving in Medellín is on par with what they would do.”

Nancy Kiernan, a former healthcare executive who also retired to Medellín, had a similarly positive experience. Nancy has had various lab tests, a mammogram, tests for cervical cancer, and a biopsy, and in each case, she says, “The process was quick, the facilities were state-of-the-art, and most of the results were available online within a day or two. I know what I’m talking about when I say the quality of care for expats in Colombia is excellent.”

How I Built My Health Coverage in Prague

As I was prepping back in Los Angeles for my new life as an expat, I was researching oodles of international insurance plans, and I really began to see just how wacky health insurance is in the U.S. Take, for instance, the GeoBlue Xplorer health plan with unlimited benefits and a $5,000 deductible. It costs $333 a month for someone between the ages of 50 and 54, that is, if the U.S. is excluded from coverage. Toss U.S. coverage into the mix, however, and suddenly the monthly premium soars to more than $600 because medical costs in the U.S. are detached from reality.

I’m not advocating for the GeoBlue plan. It’s just one of many possible examples to prove a point: that healthcare doesn’t have to be a worry.

In fact, even $333 a month is way more than you need to spend if you gain residence in a country and apply for local health insurance.

Like I said, I now live in Prague and with my long-term residence visa

The Secret to Early Retirement: Cut Your Healthcare Costs

By Jeff Opdyke

Healthcare costs are one of the biggest worries

Americans harbor.

The Savvy Retiree | May 2019 9

I buy local health insurance. It pretty much covers everything, and the quality of care is quite high—easily the same standard I’ve come to expect in the U.S. The monthly cost is less than $100. It covers me only in the Czech Republic. So when I travel, I just pop online and buy a temporary travel plan, such as the one I bought for a recent trip to Lebanon: $500,000 in coverage after a $100 deductible, anywhere outside the U.S., and with a variety of other travel-related benefits. Cost: $20.86 for the week I was there.

And it’s not that my health insurance costs in Prague are an exception. Other desirable destinations all over the world are equally cost-effective.

In Thailand, you can pick up worldwide coverage (excluding the U.S.) for as little as $33 a month. In Spain, where I was considering moving, I found 100% coverage with dental care for just over $80 a month.

In Mexico, top-of-the a line private insurance, including dental care and a 25,000 peso deductible (about $1,300 at the moment), is just over $100 a month. Move to Costa Rica and high-quality, U.S.-caliber health insurance is roughly between $130 and $175 a month.

By comparison, when I was living in Los Angeles last year and had to pay for my own health insurance as a freelance writer, my cost was $556 a month with dental coverage.

Insurance costs abroad are lower because the prices for individual procedures and medications are sharply lower.

John Michael Arthur, a retired Texas physician who now lives in Costa Rica’s Orosi Valley, had a state-of-the-art zirconium crown placed by a Costa Rican dentist for $275, roughly a quarter of the cost in the U.S. His echocardiogram cost $145, less than a tenth the cost of the typical $2,000 price tag in the U.S.

COMMONSENSE NUMBERS

Healthcare outside the U.S. is high-quality and

affordable.

John’s experiences represent a common theme when you get outside the warped U.S. healthcare bubble that has so many of my compatriots fearful of their financial future in retirement. In the U.S., the average cost for a day in the hospital is more than $5,200. At a private hospital in Mexico, it’s less than $100. Need a hip or knee replacement? The procedure is north of $35,000 in the U.S. but about 60% less in Costa Rica. In Thailand—which ranks third in healthcare in International Living’s Annual Global Retirement Index—an $11,000 heart-valve replacement is less than a tenth the cost you’d pay back in the States.

8,000 Knees and Hips Can’t Be Wrong

I’m not trying to paint the U.S. in a bad light, nor am I looking at the rest of the world through a lens of unquestioning, unfiltered glee. Certainly, there are caveats to consider with healthcare overseas. Depending on the country and the health plan you choose, you might wait for a few days or a couple of weeks to see a doctor for a routine matter or for a specialist. And bureaucracy exists everywhere, not just within the U.S. healthcare system.

However, the positives more than make up for any pitfalls. Overseas, you regularly find Western-trained, English-speaking, board-certified doctors who still make house-calls (at an affordable price). You find high-quality medical care that differs from home only in that you can often afford the cost with the money in your wallet. And, perhaps best of all, you routinely find a better quality of life in a destination where your money goes much further than it would in the States, and where life expectancy is often longer.

Consider Patrice Wynne, who left San Francisco for San Miguel de Allende in Mexico’s Colonial Highlands. She needed both knees replaced and found a top-notch doctor in the nearby city of Queretaro who has replaced 8,000 knees and hips and was trained in Mexico, the U.S., and Germany.

“When I was wheeled into the operating room,” says Patrice, “I was dumbstruck by the modern, new

equipment. In fact, everything about my operation and the stay in the hospital was sophisticated.” But what really struck her was that “when I called to have my initial consultation with the surgeon I was hoping to use in northern California, the cost was $1,250, plus $500 in X-rays. The initial visit and subsequent post-op visits to see my doctor in Queretaro were $40 each, with $20 in X-ray fees.”

So, I’ll ask my initial question again: If you truly desire to retire early, and if healthcare costs truly are your biggest concern, then why not retire overseas?

Save Thousands on Medication and Healthcare

ProceduresHealthcare outside the U.S. is often just as good or better, and is almost always significantly cheaper. Consider these examples comparing the average cost for procedures of medicines in the U.S. with costs elsewhere:Xarelto (drug to prevent/treat blood clots), one-month supply:• U.S.: $292• Spain: $101• Mexico: $101Humira (drug for rheumatoid arthritis), one-month supply:• U.S.: $2,669• Switzerland: $822• Mexico: $543Avastin (drug to treat certain cancers), a 40mg vile:• U.S.: $3,930• UK: $470• Mexico: $55Angioplasty• U.S.: $28,200• Costa Rica: $13,800• Thailand: $4,200Knee Replacement• U.S.: $35,000• Mexico: $12,900• Colombia: $7,200Dental Implant (one implant, plus abutment and crown)• U.S.: $3,000• Thailand: $1,700• Mexico: $1,000

The Savvy Retiree | May 201910

Launch Your Retirement with a Turnkey Business

COVER STORY

Continued From Page 1

Laura Diffendal and her husband, David, started with just a half-acre plot and three cabanas in Belize. Now they have a whole hospitality empire, spread throughout the Caribbean nation.

industry, where insight into North American service standards give you a major advantage over competitors. Making just a few simple and cost- effective changes to the business model, marketing, or premises can potentially double or even triple the revenue, turning a struggling business is into a lucrative one.

Spotting the OpportunityThe key to success when buying

turnkey is to find a business with unrealized potential. Often, when an overseas business goes up for sale it’s because the owner didn’t have the management experience to make it work, they underestimated the financial investment needed, or they might simply wish to move on or fully retire.

When scouting a potential purchase don’t be afraid to ask locals why the business might have failed. Bad customer service? High prices? Wrong location? That can guide your improvement efforts. Or even dissuade you from buying that particular business.

You’ll find plenty of businesses for sale around the world. But it’s important to limit your search to destinations with a ready market of customers, where you’ll also find the lifestyle benefits you’re

looking for.“We fell in love with Central

America after a trip to Costa Rica,” says Laura Diffendal, a Cleveland native who now lives in the Caribbean country of Belize with her husband, David. “We were amazed by the lack of tourism on the coasts in comparison to what you find in the U.S. If you want to start a hotel or other tourism business in the U.S. the barrier to entry is very high, especially in terms of cost. In Belize, we hardly found any barriers at all.

“In many ways, Belize feels very much like North America: It’s English speaking, they use British-based common law, and you can use U.S. dollars. From our first visit we just felt very comfortable and at home. We found a perfect property to ‘practice’ and see if we could succeed here in Placencia Village. It was a half-acre with three run-down cabanas that needed TLC. But after talking extensively to the expats and locals in town, we saw a great need for a higher-end hotel in the village.”

Over the last five years Laura and David turned their small property into a proper boutique hotel with eight suites called Caribbean Beach Cabanas, and even won Small Hotel of the Year from

the Belize Tourism Board in 2017. When Denis Larsen retired from

his position as an industrial designer in New Jersey in 2005, there was only one destination he had in mind: the city of Valladolid in the heart of Mexico’s Yucatán Peninsula, which is growing in popularity among visitors and expats. The climate is perfect, says Denis. And he enjoys the mix of cultures, heavily influenced by the indigenous Maya, as well as the blend of stunning Spanish colonial architecture and modern conveniences.

“To tell the truth, I wasn’t really looking to open a B&B when I first saw my property. It was a lovely old family home. It had four bedrooms and two bathrooms, all on one floor,” explains Denis. “The owner’s daughter had inherited the property and was operating it as a small rooming house with no food service. I just figured it would be a wonderful home for me and my friends although I did plan on doing some upgrades. All the basics were already here. It didn’t take long before I began to see the untapped potential of the property. This was truly a diamond in the rough.”

Molly Glasoe and her husband Mark discovered their business, Waltzing Matildas—an Australian themed pub in the seaside resort of Vung Tau—in 2007 when they first visited Vietnam. However, it wasn’t until eight years later that they got the opportunity to buy it.

After following Mark’s job in the oil and gas industry to Denmark, Australia, and back to the U.S. they were able to purchase their favorite watering hole in December 2015, giving it a renovation and renaming it Matilda’s.

“It’s been a huge money maker. So much so, I’m getting ready to sell the business and retire. For the investment we made, we easily made our money back in the first two years, and the rest has been gravy,” says Molly.

The Savvy Retiree | May 2019 11

COVER STORYTurning Things Around

No two turnkey businesses are ever the same. You might find yourself with a money-maker from the get-go, or it might require some work before it becomes profitable. The amount you have to do to turn things around depends on the condition you find it in. But whether it needs to be revamped, with rebranding, renaming, or even construction, the process doesn’t need to be done overnight. You can start small and grow slowly.

That’s the strategy Laura and David in Belize used as they built a mini hospitality empire, PUR Belize Hotels. After their initial project in Placencia they moved on to the well-known island destination of Ambergris Caye.

“We bought and renovated two condos in Ambergris Caye in 2016, to pair with Caribbean Beach Cabanas, and when those filled up quickly, we decided to purchase a second hotel in Ambergris Caye. Actually, one year ago today we opened PUR Boutique Cabanas. We bought this from an American investor who built a small hotel and then ran it into the ground within a year; it was a mess business-wise, operationally, and physically. “We spent last winter turning it around before reopening it. We rebranded, renovated, and had to build all new management systems and train staff. But it was such a good fit for Caribbean Beach Cabanas in Placencia that we felt right about it from the start,” says Laura.

For Dwight with the B&B in Italy, there were several simple changes that made all the difference. They built a swimming pool, which, in Dwight’s opinion, is important for targeting foreign tourists. But they also made other tweaks. “We got rid of all plastic furniture, got nicer chairs and tables and started serving homemade breakfasts with local jams, breads and cakes,” explains Dwight. “We threw out plastic soap dishes and replaced them with ceramic ones made by a local artist. And we bought real mattress pads to replace those terrible shower curtains on the beds. These things don’t cost much but they make a big difference. We also made a very good website, probably the best in the region at that time. Within a year, our revenue tripled.”

Denis in Mexico paid the equivalent of $40,000 U.S. to buy the property back in 2005. He began to do some heavy renovation, which took the better part of a year, and as things progressed and Denis saw the potential for a first-class B&B, he amended his original plan and enlarged the kitchen and also included a beautiful, open dining area/restaurant overlooking the garden. The four-bedroom, two-bathroom property became an eight-bedroom, eight-bathroom inn and now sports a second level and pool as well as a spa/massage space. Denis has his own private apartment on the property and there is also a large VIP suite for special guests.

Casa Hamaca Guesthouse has been the top-rated B&B in Valladolid for a number of years but that has not happened by accident. Denis has worked to integrate his property into the community. He hosts weekly movie nights and pairs an appropriate dinner menu to match the theme of each movie. And his on-site restaurant does great business, with menu items ranging from pasta specialties to local Maya and Mexican favorites. He also offers a full-service bar.

Molly, who has a background in the service industry and marketing, said a key piece of advice they got was to put their own stamp on their newly bought business. The previous owners had promoted the bar as “party central,” but Molly had a different approach, changing the focus from a “bar that served food,” to a “restaurant that serves alcohol.” This rebranding elevated it from just another Aussie pub to one of the only family-friendly expat-owned establishments in town.

“That is far and away the big difference and the key to our success. We serve top shelf comfort food from around the world at reasonable prices. We have a variety of the best burgers in town, a long list of pizzas, all-day breakfast, and comfort food like breakfast burritos, southern biscuits and gravy, Matilda’s Mcmuffins, seafood chowder, and Canadian poutine. We also have a range of excellent Vietnamese food,” says Molly.

Not long after Molly took over, Matilda’s went from number 15 or 16 on TripAdvisor to number one, and has

remained firmly in the top three ever since.

Management and StaffingWhen Dwight in Italy first took over

the B&B, he managed it all himself. However, since getting married, his wife, Maryse, has been sharing the chores. “We get up early, set the tables for breakfast, make the coffee, lay out the food, and talk to the guests. When the guests leave, we clean the room. Then I go out to the vineyard,” says Denis.

With a larger operation with staff, like hotels or restaurants, there is more involved.

“You have to spend time in each location and get the right staff in each place,” says Laura in Belize. “When you have the right staff in place, it can look pretty effortless. It can be a daily grind if you do not have the right people in place. When you build the right management systems, everyone wins. Your staff know what is expected and there is no gray area.”

After just one year in business, PUR is ranked in the top 10 on TripAdvisor for guest experience, and is guest-rated

Businesses for Sale Around the World

An Italian restaurant in the popular Flamingo Beach area of Guanacaste, Costa Rica, is on offer for $95,000. They report $200,000 in sales revenue. They specialize in wood-oven pizza and fresh homemade pasta. It’s close to the beach and local development. Listed here.A B&B and restaurant that has been in business 11 years is on offer for $328,302 in the Dordogne region of France. It’s located in a traditional village and has six en-suite rooms and a professional kitchen with owner’s accommodation, as well as restaurant, vegetable garden, swimming pool, and large terrace. Listed here.Calling all fishermen! In Mexico’s popular Riviera Maya is a fishing charter business for sale in the resort town of Playa del Carmen for $225,000. This business has permits to pick up at various resorts up and down the coast. Listed here.If you fancy English-speaking Belize, you should check out a turnkey restaurant and food market in the town of San Pedro on Ambergris Caye. It appeals to both expats and tourists with its go-to meals and home-style cooking. Listed here.

The Savvy Retiree | May 201912

Buy an Online Business TurnkeyWhen we think of buying a turnkey business, we think of brick-and-mortar locations and physical inventory. However, if you don’t want to be tied down to a set location but you still want the convenience of a ready-made business, you should consider buying an online business.Empire Flippers is a website marketplace that specializes in connecting sellers of established online businesses with potential buyers. They list businesses across a wide price range, from $10k affiliate sites to multi-million-dollar ecommerce operations. Most importantly, Empire Flippers acts as a full-service broker, vetting websites, creating profit and loss reports, and spotting discrepancies before businesses are listed on their marketplace. They also provide insights and guidance for buyers, including conference calls, and advice on making offers and counter-offers. Every website you’ll find on Empire Flippers will have its own particular niche and its own unique business model—whether it’s affiliate marketing, advertising, or e-commerce—so consider your interests, skill sets, and the level of involvement you want before you commit to any purchase.

COVER STORY

number one on Ambergris Caye on Booking.com.

For Molly in Vietnam, treating staff well has been a key to success. “We have very low turnover in staff because they’re working in a great environment, get excellent training, and we have a form of profit sharing. We’re more like a family than a business. They call me Mum and my husband Papa. We treat them with respect and love, and they return that triple-fold,” says Molly.

“Unlike most restaurants in Vietnam, we don’t open seven days a week. Our staff all get the same day off, which has simplified rosters. It allowed me to get rid of three low performers, give everyone else a substantial raise, and we get to have regular team outings. Rather than decrease our profits, we’ve actually increased them.

“With long-term, well-trained and trustworthy staff I don’t need to be here all the time. Last summer, I went home to Alaska for six weeks, and everything went on as usual the whole time.”

Denis stays involved with his B&B in Mexico, but has employees to do the bulk of the hands-on work. “This is a great business. I now have a staff of about 10 full-time people, including a manager that jumps in to any slot that needs assistance. I personally maintain all the social media and do the weekly/monthly promotions. I also enjoy doing the food shopping. I do that every morning and get to visit with my favorite vendors,¨ he says.

Marketing and PromotionWith the widespread use of internet

marketing, online booking sites like Airbnb, and social media like Facebook, it shouldn’t be surprising that most business owners make their web presence a cornerstone of promoting their business and pulling in customers and guests.

“The marketing we do is all about attracting the right kind of customers. I do email blasts, we have social media pages, and we target the local expat crowd through Facebook for special events like our regular Music Monday jam sessions. We have some fabulous local musicians who are invited to join the band on stage and it’s a great community get together,” says Molly of Maltida’s.

Molly also believes her staff are another key to her success in this area. “Our customer service is paramount to us. Coming from the U.S., I know how it’s done. All my servers have great English, are taught to smile and greet regular customers by name. They’re instructed to ask customers about their experience, so we can handle complaints right away and head off bad reviews.”

Another key to a successful hospitality business is knowing the area well, says Dwight. “I spent the first year exploring and looking for the best things to do for my guests. You have to know what they can visit, do if they have children, what hikes they can take if they like the outdoors, and where the best beaches are. I start the day asking my guests what they wanted to do and I write out itineraries for them or gave them a

book on hiking in the area, as well as restaurant recommendations.”

Putting Lifestyle Before Business

One of the biggest aspects to long-term success with an overseas business is loving what you do and where you are.

Laura and David work hard but they also know how to enjoy life in a Caribbean paradise.

“Placencia and Ambergris Caye are my favorite spots in Belize. I only like to offer places where I myself would want to vacation and where I know guests will have a great experience. I need to be genuinely passionate about a place to put the effort and energy forth to get others to come experience it,” says Laura. “Placencia is a throwback to a vintage Caribbean town—hand-painted signs, lazy, tranquil, and artistic. While Ambergris Caye is pure fun, with an island vibe, golf carts, live music, gorgeous water, and parties every night.”

From his expansive veranda, Denis Larsen often enjoys an icy, cool drink as he takes in the lushness of his large, tropical garden. He says overall his life is nearly perfect. ¨I live rent-free and my food is absorbed into the business budget. Medical care here is excellent and the climate can’t be beat. I have many friends and meet new people every week. I cannot think of one thing I would want that I either don’t have or can’t get here. My garden is one of my two favorite things about living here in Yucatán. The other is the fact that I live like an absolute king for virtual pennies.”

Molly Glasoe and her husband, Mark, have made huge profit from their restaurant in the seaside resort

of Vung Tau, Vietnam.

The Savvy Retiree | May 2019 13

RICHER LIVING

Enjoy a Cruise Experience at 50% Off the Rack Rate

By Lynne Martin

Some women ask for jewelry, a fancy new car, or an exciting vacation as they approach one of

life’s milestones. As my 70th birthday loomed, I asked my husband, Tim, for the world. I longed to spend weeks, even months, in Europe, living like the locals and learning more about the culture, food, and people in places that I’d visited for short vacations. To my delight, we were on the same page. Within a few months, we had sold our house, disbursed most of our furniture and belongings, and hit the road. For almost five years, we lived internationally in vacation rentals without a home base.

Before we left California, we rented a small apartment and spent weeks planning our budget, securing transportation, and finding vacation rentals. Tim was jubilant when he found a way to get from California to Europe and back very affordably. One morning he shouted, “Eureka! I’ve found it! We’re booking a repositioning cruise from Fort Lauderdale to Rome this October.”

What Is a Repositioning Cruise?

When cruise lines reposition their ships between seasonal destinations like the Mediterranean, the Bahamas, Northern Europe, Hawaii, and Asia, they don’t want to waste the journey with an empty vessel, so they offer steeply discounted one-way rates to customers. It’s that rare situation in which everyone wins: Travelers get cruise prices at an average 50% discount and the cruise lines make money while moving their inventory.

Most repositioning cruises are in spring and fall when ships are preparing for the winter and summer seasons. The most popular repositioning cruises tend to be between Alaska and Hawaii, or transatlantic crossings from Florida to the Mediterranean in the spring and the reverse in the fall. But there are many more destinations from which to choose

year-round.Transatlantic repositioning cruises fit

into our plans perfectly. Since we chose to have no home base, we had to pay for lodging every night for almost five years. On repositioning cruises, we not only got luxury accommodation, entertainment, and pampering services for 12 to 18 nights at a time, but we also arrived at our destination relaxed and free of jet lag.

Repositioning cruises have far fewer passengers, and the one or two children aboard are a novelty rather than a nuisance. This way of travel is a superb alternative for anyone who has the time to enjoy leisurely-paced travel, or for physically challenged travelers for whom long flights are uncomfortable.

A Regular Cruise, Plus MoreOn our maiden Atlantic crossing,

we spent 12 days sailing from Miami to Rome aboard Royal Caribbean’s Mariner of the Sea. My heart raced when I looked up from the terminal to see our vast, glittering new home towering many stories above us. The zing of excitement in the air and the smiling faces we saw in the terminal were the exact opposite of the bustling, loud, nervous crowds at airports we have visited around the world. The cheerful atmosphere prevailed for our entire journey, and we quickly became accustomed to kindness and courtesy. At dusk, when the colossal engines roared and the mighty ship began her stately journey, I knew I was hooked for life.

Repositioning cruises provide all the entertainment and services of traditional cruises. Since they don’t make many ports of call, the cruise lines add more on-board activities. Every day, the ship’s newspaper lists items like chef’s demonstrations, bridge or dance lessons, lectures by authors and entertainers, first-run movies, wine or martini tastings, miniature golf, and a library for quiet reading. Beauty and spa services are

excellent aboard ship, so I always arrived at each destinations freshly quaffed and manicured, and feeling thoroughly spoiled.

Fitness centers offer yoga, personal training, and health classes, as well as excellent gym equipment. Pounding away on a treadmill while watching the wake glittering to the horizon makes exercise a pleasure. The top decks are fitted with driving ranges, running tracks, shuffleboard, basketball courts, and more.

Live music shows, from classical teatime concerts to late-night dancing in the nightclub, are also favorites. Several bars and coffee shops also feature live music throughout the day. There are shows every night ranging from musical extravaganzas to hilarious comic performances, and one ship boasted an ice rink where we saw some marvelous musicals. Gamblers enjoyed the casino, and art lovers could peruse the works in the art gallery day and night. I took advantage of quiet libraries where I could do some work in a room with a view of the Atlantic.

Breakfast in our stateroom was a daily ritual on-board. We enjoyed watching the news (yes, it’s possible to keep up even in the middle of the Atlantic) while we sipped coffee and devoured a tasty breakfast delivered at precisely the time we requested it. Food can be delivered to your stateroom any time you wish, so we sometimes enjoyed a private pizza and movie night instead of going “out” to dinner. Bountiful meals are offered in several locations throughout the day. You can choose a more formal dining experience in the main dining room or enjoy the more relaxed buffet service. For variety, you may want to have lunch or dinner in the more intimate specialty restaurants for an additional fee. Every ship has several small restaurants like a steak house, or ones featuring Japanese or Italian cuisine. It’s wise to book your table

The Savvy Retiree | May 201914

How to Plan Your Voyage Choosing the destination is the cornerstone of itinerary planning for a repositioning cruise since there are fewer ports of call. We chose a route to Europe as that was where we wanted to start our adventure from.The second step is investigating the ship itself. It’s best to choose from major cruise lines because you’ll get the best value for money, many vessels from which to choose, and reliably good service.The top luxury liners are Crystal, Seabourn, Azamara, and Oceania. You’ll get more affordable luxury on Celebrity, Princess, Holland America, Norwegian, MSC, and Royal Caribbean. Carnival and Disney also do ship transitions between Alaska and Australia. Expect to pay approximately 50% less than in-season rates in all stateroom categories and remember to add in the recommended tips, drink packages, excursions (if you sign up for them), and dining at specialty restaurants during your trip. Also, as previously mentioned, avoid cruises where the ship is heading for dry dock.Since repositioning cruises are one-way, you’ll also need to budget for your return flight or cruise home. Some people use the repositioning cruise as their vacation and then fly home from the destination point. Check your passport well ahead of time. If your renewal date is within six months you may not be allowed to embark.All cruise lines list their repositioning cruises, but to get better comparisons check out the offers available on Cruise.com and Vacationstogo.com.

RICHER LIVING

at these restaurants before the cruise, because they are usually booked early. Of course, there are snacks, ice cream, sandwiches, and pastries available all the time, and many ships carry Starbucks Coffee counters. You will never, ever be hungry aboard a cruise ship.

Every cruise has its peculiarities and highlights. On that first trip, we made friends with the intelligent, hilarious Victor (pronounced Veek-torrrr) from Romania. He oversaw the elegant smoking lounge where we would sometimes indulge in a cigar and brandy so we could hear more wild stories about his country and laugh at his outrageous jokes.

My personal favorite shipboard activity is the guided tour of the vessel. I love seeing how the kitchens managed to feed thousands of people with very good food day after day, and how the engine room, the laundry, and the crew’s quarters are set up. However, the highlight of the tours is a visit to the bridge, the command center that controls everything aboard the ship. On my first visit I was amazed to find that even with the banks of sophisticated electronic gear, there is a crew member stationed at the vast window toward the bow of the ship. His task is to survey the ocean with

human eyes, looking for any obstacle. It’s comforting to know that manpower is still the final authority on the open seas.

We learned a valuable lesson on our second crossing, an 18-day Royal Caribbean cruise from Miami to Venice: Always check to be sure that your ship is not on its last trip before dry dock. Because our ship was to be completely refurbished in Venice, it meant that during our cruise, carpets

were being ripped up, doors removed, and construction noises invaded the main dining room.

Ports of CallMost transatlantic crossings offer at

least one, sometimes two, ports of call. Over the years, we visited many in Spain, France, and Portugal. Ships offer guided excursions, but since they are pricey, we usually just go into the port city on foot or by cab to experience the joy of being on land after so many days at sea, have a look around, and enjoy the local cuisine.

At Las Palmas, on Spain’s Gran Canaria island, we explored the picturesque narrow streets and plazas by horse-drawn carriage. At Tenerife, also in the Canaries, we joined an excursion to see the Pirámides de Güímar Ethnographic Park. The exciting ride and then the view from the top of the island made it worth the price. Another favorite stop was Villefranche-sur-Mer, the port of Nice, France. There, the terminal is a short walk from a lively area full of enticing shops and inviting restaurants, and when cruise ships anchor, the flea market in Amélie Pollonnais square is in full swing.

Editor’s note: Lynne Martin is the author of the best-selling Home Sweet Anywhere, How We Sold Our House, Created a New Life, and Saw the World. Her latest book, Cook Like a Local in France, will be published in June, 2019.

As Lynne Martin discovered, a repositioning cruise can offer even more entertainment options than a regular cruise does, but at half the cost.

The Savvy Retiree | May 2019 15

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