Asian Adventures with Jim

Why $80K In America Feels Like $20K Overseas

Many people overseas mistakenly believe Americans are wealthy, often seeing their houses, cars, and neighborhoods and assuming a person making $80,000 to $100,000 a year is living a dream. However, the reality is that 67% of Americans are living with significant debt, paycheck to paycheck, and are often one medical bill or missed paycheck away from financial ruin. From the outside, America appears rich, but most people don't truly own their assets; houses, cars, furniture, and even phones are often financed. Those overseas don't see the underlying debt, stress, or the escalating cost of living, where basic expenses like daycare, groceries, insurance, and utilities have doubled in the last five years. A salary of $80,000 to $100,000, once considered solid, is now often just "survival money." This disparity between perception and reality leads to chaotic dynamics, especially in relationships where one partner, often overseas, expects financial support, believing the American partner is affluent, while the American is struggling to survive. Conversely, retiring overseas, particularly in Asia, also presents hidden financial challenges. While a single person might manage on $2,500 a month, getting a girlfriend often means supporting her entire family—her parents' medical needs, siblings' school fees, and rent. Asia, too, is becoming more expensive, and individuals can quickly become an "ATM" for an extended family. A critical, often overlooked, aspect of living in Asia is the medical reality: significant medical issues like surgery or long-term treatment require cash payments upfront. One serious illness can wipe out savings, pensions, and retirement funds. People often believe Asia is cheap until they face a hefty hospital bill.