Today’s episode features Peter from Serbia! Our first episode with a more unusual Serbian perspective. A great episode that shows that financial independence is achievable even from different starting points.
We also talk about:
- Serbia’s historical highlights
- Recession and its consequences
- Serbia’s tax regime
- Real estate investing
- Fully funded lifestyle change
- Turning off autopilot
🧘🏻♂️🏄♀️🍹💸😎 Want to stay in the sun and surf with the brightest minds of the FI Europe tribe? Check our FI Europe Retreat 2019!
Reaching FI in Serbia: challenges and opportunities
Peter is currently living in Serbia and is the blogger behind Halt Catch FIRE. He discovered the FI movement some years ago and decided to pursue the financial independence/early retirement goal in order to have more time for his family and to have control over his time. Reaching FI in Serbia is not an easy task though: recalling his own experience, Peter explains the challenges and opportunities that the particular situation of the country places for those along the FIRE road.
Strategies for financial independence in a low income country
Frugality is something that Serbian people had to embrace out of necessity, but managing income is difficult in a situation where the local currency is volatile. Peter explains his strategies on the road to financial independence, giving priority to becoming debt-free and studying possibilities for investment – which presents additional challenges due to the imbalance of the conditions, and certain difficulties when investing from Serbia.
The advantages of Serbia for FI folks
Serbia also has several advantages for digital nomads or people that make an online income. The main problem in Serbia is making enough money, since the cost of living is very low compared to western countries, as is the cost of real estate. Serbia is very close to the EU and is well connected to the rest of the world, and the low costs can act as an accelerator in the journey to financial independence. Peter is also looking for an alternative by making a fully funded lifestyle change, allowing more flexibility while working.