If you are of the belief that a Trump presidency will be a catastrophe, now is an excellent time to search abroad for new opportunities. And if you are one of the people who threatened to move to a different country in the event of Trump winning the White House, put your money, or body, where your mouth is. Just go.
Without dismissing the world of opportunities that exists in the United States, I will assert that Americans are presently overtaxed and overregulated. The dollar has been incrementally devalued over the last century, degrading purchasing power, and a rollback of civil liberties has been expedited over the last 15 years. Socially, one side of the political spectrum points to rampant racism, sexism and other injustice, while the opposing side points to a toxic culture of political correctness and degrading family values.
No matter your source of discontent, there is reason to leave. And no matter your destination opportunity awaits.
Reasons to move abroad include tax reduction, a more favorable business climate, niche markets, resume building, better weather, natural beauty, travel opportunities, cultural enrichment, language learning, friendship, dating and mating.
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Examining Europe, one continent with which I have some familiarity, you can find a host of economic and social opportunities. For years, American companies have been seeking refuge in certain European countries, i.e. Ireland and Switzerland, in order to slash their tax bills. In Bulgaria, you can do business with a 10 percent corporate tax rate and a greatly reduced cost of labor, as well as with access to the EU single market. Similar opportunities exist in the Baltic states, where taxes and wages are slightly higher but there is a greater ease of doing business. Across Eastern Europe, growing IT sectors have sprouted, presenting opportunities to both workers and employers.
In the era of digital nomads, some professionals can easily become location independent. Programmers or web or graphic designers should have little difficulty relocating their work to another country. Some individuals with wanderlust manage to make ends meet as travel bloggers/vloggers or photographers or simply by winging it and finding work as they go.
Western and northern Europe offer a socially liberal atmosphere to which much of America’s youth has grown accustomed. If diversity is your thing, it is certainly on the rise in Western Europe. If you are dying to get away from political correctness, head across the former Iron Curtain. Eastern Europe also offers low prices, allowing you to live comfortably with low wages or live luxuriously with moderate income. In Central Europe, you can find a mix of east and west, and in Southern Europe, there is plenty of sun and cultural richness. All corners of the continent come with history and remnants of empires that you cannot find in the States.
Settling down in one location for an extended period of time can be tricky due to immigration rules, but it is doable and can lead to lasting benefits, citizenship included. There are also the possibilities of indefinitely traveling or living in various locations for upwards of 90 days at a time.
Even if you do not intend to make a permanent move, there is value in gaining a foothold in foreign countries. You can move money abroad, diversify your portfolio, build international networks and obtain foreign residence, each of which may enable you to reap future benefits. Likewise, in the off chance that something catastrophic does occur in the U.S., an established foothold in a foreign country will have great value. If an unhinged Trump were to persecute racial, ethnic or religious minorities, or a vindictive Trump were to punish his critics in the media, they could all access safe havens abroad.
As a caveat, I am not of the belief a Trump presidency is a doomsday scenario. A market crash could be on its way, but a correction is needed as a result of government-driven, near-zero interest rates and other central planning policies. Trump could continue the big government policies that are stunting the economy and causing internal division. If that occurs, what drastic changes are there to fear? If Trump is true to his word, he could foster an improved business climate that would afford new opportunities to disgruntled American workers, entrepreneurs and investors. And despite all of its struggles, the United States still offers more freedom to its citizens and residents than many, if not most, countries worldwide.
If you have questions about moving or living abroad, feel free to write me at [email protected] or tweet me @FreeManReporter, and I will try my best to answer them. If you are willing to pony up for some relocation consulting, I can point you to a professional.