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<ul class="summary-list"><li>Oregon's universal basic income measure failed, with 78.8% of voters opposing the policy.</li><li>The measure proposed giving $1,600 annually to state residents, funded by a corporate tax increase.</li></ul>Oregon's effort to institute a statewide <a target="_blank" href="https://www.businessinsider.com/universal-basic-income-pros-and-cons">universal basic income</a> failed on November 5. With 73% of the total votes counted, The Associated Press reported that 78.8% of those voters opposed the policy.Measure 118 — also known as the Oregon Rebate — planned to give $1,600 annually to all residents who spend more than 200 days in the state. If it had passed, Oregon would have been the first state to implement a UBI policy giving all residents no-strings-attached cash. <a target="_blank" class="" href="https://www.businessinsider.com/us-sovereign-wealth-fund-alaska-universal-basic-income-2024-9">Alaska</a> also has a program that resembles basic income, but it's structured differently than Oregon's proposal.To fund the initiative, Oregon planned to increase the corporate minimum tax rate by 3% on in-state sales exceeding $25 million.Prior to November 5, the policy was <a target="_blank" href="https://www.businessinsider.com/oregon-rebate-universal-basic-income-ballot-measure-november-election-2024-8">unpopular among both Republicans and Democrats</a>, many of whom said the rebate could lead to increased prices for consumer goods and slower job growth. Major corporations also <a target="_blank" href="https://www.businessinsider.com/oregon-opposition-measure-118-basic-income-corporate-tax-2024-9">spent millions to oppose the measure</a>.The opposition movement to Measure 118 raised over <a target="_blank" href="https://yesonmeasure118.us12.list-manage.com/track/click?u=83d9dbb6664b4a19cbb44709d&amp;id=e6a64e8b7d&amp;e=f1e85bc7c7">$16 million</a> — more than <a target="_blank" href="https://yesonmeasure118.us12.list-manage.com/track/click?u=83d9dbb6664b4a19cbb44709d&amp;id=9037925dd4&amp;e=f1e85bc7c7">26 times</a> what the Oregon Rebate support PAC raised.The measure failure comes as basic income programs across the country <a target="_blank" class="" href="https://www.businessinsider.com/sam-altman-basic-income-study-results-2024-7">gain popularity</a> as an approach to poverty reduction. Advocates for Oregon's measure hoped that cash assistance would create a "fairer and more just economy" for state residents.<h2 id="c8a738cb-bbf3-486c-a8b4-1675fd1c244d">Oregon's UBI policy failed, but basic income is still gaining national momentum</h2>Business Insider has previously reported on<a target="_blank" href="https://www.businessinsider.com/basic-income-helps-people-get-jobs-earn-higher-pay-gbi-2024-9"> basic income research</a>, and state-level efforts to create lasting cash assistance programs. Oregon's ballot measure resembles basic income experiments in other <a target="_blank" href="https://www.businessinsider.com/which-states-cities-have-guaranteed-basic-income-programs-low-income-2024-4">cities</a> and <a target="_blank" href="https://www.businessinsider.com/countries-with-universal-basic-income">countries</a>.Over <a target="_blank" href="https://www.businessinsider.com/basic-income-gbi-ubi-low-income-americans-afford-housing-food-2024-5">100 guaranteed basic income pilots</a> have launched across the US, and participants told BI they used the money to pay for housing, groceries, childcare, transportation, and medical bills. These pilot programs are often funded through philanthropy, local governments, or private donors. Some states, like California and <a target="_blank" class="" href="https://www.businessinsider.com/immigrants-new-mexico-basic-income-for-housing-healthcare-ubi-gbi2024-5">New Mexico</a>, are also making efforts to incorporate basic income into state policy.But GBI differs slightly from UBI. Although the guaranteed basic income pilots offer no-strings-attached cash, the money is limited for a set time period and selected participants, many of whom are low-income and fit specific demographics such as single parents, artists, or students.Universal basic income would give everyone ongoing cash payments, regardless of their income level. A UBI program hasn't been successfully launched in the US.During his 2020 presidential run, Democratic Candidate Andrew Yang pitched the <a target="_blank" href="https://www.businessinsider.com/what-is-basic-income-2016-8">Freedom Dividend</a>, a federal basic income policy that would give $1,000 monthly to every American over the age of 18.<a target="_blank" href="https://www.businessinsider.com/alaska-permanent-fund-basic-income">The Alaska Permanent Fund</a>, which began in the 1970s, is a model similar to universal basic income. It gives state residents annual payments (which were $1,312 per person in 2022) funded through the state's oil revenue.Some <a target="_blank" href="https://www.businessinsider.com/ubi-universal-basic-income-ai-risks-destroying-jobs-solutions-2024-7">tech leaders</a> have also suggested that cash assistance programs will become more necessary as artificial intelligence disrupts the job market.Still, any program like the Oregon Rebate would require funding and any major tax changes would need to be approved by voters.

Corporations raised $16 million to oppose Oregon's universal basic income plan. They won.

Chennai (Tamil Nadu) [India], July 15 (ANI): <keyword id="19906966" type="General" weightage="100" keywordseo="Ashok-Leyland" source="keywords" meta.keywordsubtype="org" meta.entityname="Ashok Leyland" meta.hostid="265" meta.entityid="Ashok Leyland">Ashok Leyland</keyword> has announced that the company has secured the single largest fully built bus order from the <keyword id="20577309" type="General" weightage="20" keywordseo="Maharashtra-State-Road-Transport-Corporation" source="keywords" meta.keywordsubtype="org" meta.entityname="Maharashtra State Road Transport Corporation" meta.hostid="265" meta.entityid="Maharashtra State Road Transport Corporation">Maharashtra State Road Transport Corporation</keyword> (<keyword id="20276774" type="General" weightage="20" keywordseo="MSRTC" source="keywords">MSRTC</keyword>) for 2,104 units of Viking passenger buses. According to a press release, the total consideration for this order is approximately Rs 981.45 Crores. The execution period for this contract spans from August 2024 to August 2025. MSRTC operates a fleet of over 15,000 buses. With this substantial order, Ashok Leyland buses will now dominate its fleet. These modern, fully built buses will comply with the latest Central Motor Vehicle Rules (CMVR) standards and feature AIS 153 compliant bodies. The order, awarded by the domestic entity MSRTC, is for the supply of BSVI OBD II Diesel Fuel Type Fully Built Passenger Buses. MSRTC, one of India's largest state transport undertakings, operates a fleet of over 15,000 buses. With this substantial order, Ashok Leyland buses will now dominate its fleet. These modern, fully built buses will comply with the latest Central Motor Vehicle Rules (CMVR) standards and feature AIS 153 compliant bodies. They will also be equipped with the proven iGEN6 BS VI OBD II technology, boasting a 197 HP H-Series Engine and Rear Air Suspension, among other advanced features. The buses will be manufactured at Ashok Leyland's exclusive bus body plants using state-of-the-art technology, ensuring enhanced safety, improved comfort, and a lower total cost of ownership for MSRTC. Shenu Agarwal, Managing Director and CEO of Ashok Leyland, expressed his excitement about the continued partnership with MSRTC. He stated, "We are excited to continue our long-standing partnership with the Maharashtra State Road Transport Corporation (MSRTC). This new order underscores our dedication to producing highly efficient and technologically advanced products, driving the growth of public transportation in the country." He added, "Our deep understanding of our customers and our ability to quickly respond to their needs is what sets us apart." Echoing this sentiment, Sanjeev Kumar, President of Medium and Heavy Commercial Vehicles (M&amp;HCV) at Ashok Leyland, remarked, "We are thrilled to have received this order from MSRTC. The order win emphasizes the confidence and trust our customers have in our products. Specifically tailored to meet the unique requirements of Maharashtra State Road Transport Corporation, our buses stand as a testament to the reliability, durability, and robustness of our products." He added, " We are proud to offer MSRTC and the people of Maharashtra a modern fleet that ensures superior comfort and the highest standards of safety. This order reflects the trust that our customers place on Ashok Leyland." As one of the top five largest bus manufacturers globally, Ashok Leyland's recent order further consolidates its position in both the Indian and global bus markets.

Ashok Leyland bags single largest order of 2,104 fully built buses from Maharashtra government

Amid the severe pollution gripping the national capital, <keyword id="19948557" type="General" weightage="20" keywordseo="delhi-metro" source="keywords">Delhi Metro</keyword> recorded its highest-ever daily ridership on November 18, with a staggering 78.67 lakh passenger journeys, according to official data. This figure exceeded the previous high of 77.49 lakh passengers on August 20 of this year, the data said. On November 18, the Yellow Line, which connects Millennium City Centre in Gurugram to Samaypur Badli in Delhi, saw the highest passenger traffic, with a record 20.99 lakh commuters. The Blue Line followed closely with 20.80 lakh passengers, while the Red Line recorded 8.56 lakh commuters, 8.15 lakh in Pink Line and 7.93 lakh in Violet Line. The Magenta Line saw 6.19 lakh passengers, followed by the Green Line with 4.12 lakh commuters, 81,985 in Airport Line, 57,701 in Rapid Metro, and 50,128, in the Grey Line, as per the data. Thick grey haze continued to choke Delhi for the third consecutive day on Tuesday, with pollution levels remaining alarmingly high at 488 in the 'severe plus' category. To encourage more people to use the metro in this scenario, the Delhi Metro Rail Corporation (DMRC) is running 60 extra trips on weekdays, offering more capacity than usual, an official statement said. The DMRC has recorded its 25 highest passenger journeys since August this year, the statement added. It emphasised that the more people opt for the metro over private vehicles, the greater the reduction in vehicular emissions, which will help improve the air quality of the city and its surrounding areas. In addition, the DMRC has introduced several measures to make travel more convenient for passengers, the statement read. These include the ability to book single or multiple journey tickets through various digital platforms, allowing passengers to plan their journeys anytime and anywhere without the need to stand in queues at the station. Furthermore, partnerships with organisations such as IRCTC, NCRTC, ITPO, and others have made it easier for people to not only travel by metro but also access interconnected travel options, along with various offers and events, all with seamless ease, the statement said. The DMRC also stated that it is one of the most <keyword id="24050954" type="General" weightage="20" keywordseo="environmentally-friendly-transport" source="keywords">environmentally friendly transport</keyword> options and the first metro system in the world to be registered for carbon credits with the United Nations for its environmental measures.

Severe pollution pushes Delhi Metro to record its highest-ever daily ridership on November 18

India's corporate credit landscape is showing positive trends that are expected to persist, according to a recent report by <keyword id="19990557" type="General" weightage="20" keywordseo="SP-Global" source="keywords" meta.keywordsubtype="org" meta.entityname="S&amp;P Global" meta.hostid="261" meta.entityid="S&amp;P Global">S&amp;P Global</keyword>. The report highlights strengthening credit quality across various sectors, driven by enhanced <keyword id="20994126" type="General" weightage="20" keywordseo="financial-discipline" source="keywords">financial discipline</keyword>, broad-based <keyword id="19899597" type="General" weightage="20" keywordseo="earnings-growth" source="keywords">earnings growth</keyword>, and robust liquidity profiles. S&amp;P Global's analysis reveals that one in three ratings within India now shows a positive outlook, marking a significant shift after three years of net positive rating actions. The report indicates that corporate India has built greater resilience against downside risks, reflecting a more stable and robust credit environment. However, corporate leverage in India is expected to decline marginally, even as capital expenditure (capex) rises by 30% compared to pre-pandemic levels. This improvement is attributed to more entrenched financial discipline among companies, which have managed to balance rising capex with prudent financial management. The report forecasts a 10% growth in aggregate EBITDA in 2024, driven by strong performance in sectors such as telecommunications, airports, commodities, and chemicals. This broad-based earnings growth underscores the resilience of corporate India and its ability to generate substantial cash flows despite a challenging global environment. Indian companies are benefiting from strong onshore liquidity and the absence of large debt maturities, which support their liquidity profiles. The resilience of these companies to foreign exchange and interest rate volatility further strengthens their liquidity positions. Corporate India's positive credit trends are closely linked to broader economic drivers such as GDP growth. Increased consumer spending is bolstering sectors like airports, automobiles, and telecommunications. Meanwhile, infrastructure investment is significantly boosting the commodities, utilities, and commercial automotive sectors. S&amp;P Global notes that both infrastructure and non-infrastructure sectors are experiencing reductions in leverage, with absolute debt reduction more pronounced in non-infrastructure sectors. However, infrastructure entities are slower in reducing debt due to higher capex, particularly in energy transition initiatives. Operating cash flows across sectors are outpacing capex, supporting further deleveraging. While capex intensity remains higher in infrastructure sectors, the neutral free operating cash flow is seen as a positive trend, indicating that companies are managing their capital expenditures efficiently while maintaining cash flows. The transportation infrastructure sector is benefiting from traffic growth and tariff increases, with rising cargo volumes supporting port revenues and improved operating efficiencies boosting margins. Airports are also experiencing higher traffic levels and tariff increases, contributing to better operating cash flows and overall credit quality. In the utilities sector, rising demand and new capacity are driving earnings growth, though capex remains high, particularly for energy transition projects. The steel sector is expected to see increased operating cash flow due to falling input prices and new capacity additions. Earnings in the oil and gas sector are expected to remain stable, supported by a favorable price outlook and consistent production levels. The telecom sector is also on a path to significant deleveraging, with capex expected to moderate following the 5G auctions in 2023. The auto sector is witnessing sustained operating performance as volumes stabilize after the supply chain disruptions of 2022. S&amp;P Global notes that debt levels in the auto sector are expected to remain low following sharp deleveraging, while normalized growth in auto sales and stable margins support the sector's positive outlook. In the chemicals sector, falling input costs and stabilized product prices are expected to drive earnings recovery following a downturn in 2023. Improved signals show a broader trend of recovery across various industrial sectors in India. S&amp;P Global concludes that with the highest proportion of positive credit outlooks in the region, India's corporate sector is well-positioned for continued <keyword id="22758432" type="General" weightage="20" keywordseo="credit-quality-improvement" source="keywords">credit quality improvement</keyword>. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/saraswati-saree-depot-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112457330.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/saraswati-saree-depot-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112457330.cms" target="_blank">Saraswati Saree Depot IPO – Price band to risk factors, all you need to know</a><a href="https://www.businessinsider.in/tech/news/indias-wearables-market-decline-for-the-first-time-as-smartwatch-shipments-fall/articleshow/112397246.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/indias-wearables-market-decline-for-the-first-time-as-smartwatch-shipments-fall/articleshow/112397246.cms" target="_blank">India’s wearables market decline for the first time as smartwatch shipments fall</a><a href="https://www.businessinsider.in/business/news/ola-wants-to-re-enter-the-quick-commerce-business-to-take-on-blinkit-and-swiggy-instamart/articleshow/112364583.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/news/ola-wants-to-re-enter-the-quick-commerce-business-to-take-on-blinkit-and-swiggy-instamart/articleshow/112364583.cms" target="_blank">Ola wants to re-enter the quick commerce business to take on Blinkit and Swiggy Instamart</a>

India's corporate credit quality is getting stronger: S&P Global

<ul class="summary-list"><li>I've been traveling internationally since I was a teenager.</li><li>Since then, I've been to 86 countries and have learned how to travel on a budget.</li></ul>As a teenager who lived in a small town, I became obsessed with travel, collecting piles of books written by authors who'd traversed the globe under their own steam. I vowed to do the same and got a job at a bookshop to pay for it. There's nothing like <a target="_blank" href="https://www.businessinsider.com/overworked-years-until-child-realized-work-doesnt-care-2024-7">working all hours</a> to make you appreciate money, and I vowed not to waste a cent when I did get to see the world.After a trip to watch wildlife in Tanzania at 18, I caught the travel bug in a big way which made me even more motivated to save as much cash as possible for future trips. Now, 20 years later, I've <a target="_blank" href="https://www.businessinsider.com/most-beautiful-places-to-visit-from-expert-2024-6">visited 86 countries</a> on a shoestring budget.While independent backpacking conjures up images of having to sacrifice various experiences, it doesn't have to be that way. In fact, there have been many occasions when I've stood next to other tourists and looked at exactly the same thing, only I've paid much less to be there than them.<div type="image" title="Jennifer Sizeland wearing a blue shirt and sunglasses." height="1069" width="1600" msid="114082091" hostid="261" sizebytes="179216"></div><h2 id="15b02c8b-5155-4fca-9080-d64c4d6ace53">Stay in a homestay and book with them directly</h2>One way I <a target="_blank" href="https://www.businessinsider.com/best-ways-to-save-money-on-vacations-travel-points-miles">save money</a> is by booking directly with local businesses instead of through booking services. For example, when I went on a trip to the Kinabatangan River in Borneo to see wildlife like pygmy elephants and orangutans, I found the direct contact details online for a homestay.The owner had a boat, and he took us out three times a day to see Malaysia's wildlife over the two days we stayed there. While my partner and I watched the incredible elephants, the other boats arrived, with tourists paying $900 to be there, compared to the $130 that we paid for two nights, all of our meals, and four boat trips. (I noted the names of the companies to find the price online afterward, and I was shocked at the difference.) It feels more ethical, too, as our money went straight to people living by the river instead of a tour company based elsewhere.<div type="image" title="Jennifer Sizeland sitting on the edge of a dock staring at the water drinking a beer." height="3024" width="4032" msid="114082081" hostid="261" sizebytes="588144"></div><h2 id="f49e7ccb-1f02-4965-b2fd-122a2a708c4f">Embrace public transportation</h2>While some travelers turn their noses up at <a target="_blank" href="https://www.businessinsider.com/taking-public-transportation-solo-backpacking-europe-2023-9">public transport</a>, it's a great way to meet people, and it becomes a part of the experience. Places like Chile and Argentina have great long-distance bus services, and some even have attendants who dish out cheese and ham sandwiches.It helps to embrace <a target="_blank" href="https://www.businessinsider.com/best-public-transportation-new-york-city-ferry-opinion-2023-8">multiple types of transport</a>, too, especially in smaller countries. Hopping from one kind of transportation to another allowed us to reach places we wouldn't be able to see if we'd just stuck to one. In Tunisia, my partner and I took trains, buses, and shared taxis all around the country to see everything from ancient ruins in Carthage to flamingos in the ocean.<div type="image" title="Jennifer Sizeland standing on a bridge overlooking water." height="3024" width="4032" msid="114082082" hostid="261" sizebytes="941530"></div><h2 id="0053d5da-6d3b-49c9-9726-03bc65f91a49">Rent a moped and travel on your own steam</h2>Another great way to see numerous sights in one day is by renting a moped to drive yourself. This is particularly great for countries in South and Southeast Asia, as a small vehicle can help you get around the heavy traffic in their busy cities.However, if this is your plan, make sure to <a target="_blank" href="https://www.businessinsider.com/countries-cost-price-driver-license-comparison-2018-9">convert your driver's license into an international one</a>; otherwise, you might get pulled over and fined by the police.<h2 id="4fed5d99-15f4-4ca6-83dd-d308b0a36578">Check to see if you can take your own transportation through national parks</h2>If you love wildlife and want to <a target="_blank" href="https://www.businessinsider.com/best-worst-national-parks-usa-from-man-visited-each-one-2024-4">explore national parks</a> on your own, research whether you can avoid paying for a tour by taking your own transportation through the park. Some national parks allow you to register on their booking system to avoid paying commission to an agent.In places like Baku National Park in Borneo, you can get your own boat without taking an official tour. You also don't even need to walk very far into the park to see wildlife, as so many animals just hang out by the office.<div type="image" title="Jennifer Sizeland sitting in an innertube floating down a river." height="2320" width="3088" msid="114082078" hostid="261" sizebytes="298494"></div><h2 id="c7909fc2-b4d6-4814-8747-63f965fdb142">Book tours once you're in the country</h2>Sometimes, you may have to take a tour as it is the only way to see a certain place you're interested in. If that is the case, make sure to book the tours while you're in the country, as it will save you money. I did this in The Gambia, and it was much cheaper than the ones offered by the airline. The money also went to a local company and local causes instead of a corporation.Just because you're on a budget doesn't mean you need to deny yourself an occasional splurge, and I set a little aside so that I can treat myself on each vacation. Usually, I eat street food, which I love, or buy food from supermarkets, but if a bar or restaurant is particularly special, I try to visit. In Singapore, for example, I went to the Raffles Hotel to try one of its famous <a target="_blank" href="https://www.businessinsider.com/cocktails-around-the-world-2019-3">Singapore Sling cocktails</a>, an experience you can't recreate elsewhere. Budgeting can be hard work, so we all deserve a little treat!

I've been to 86 countries and learned to travel on a budget. I book tours once I'm in the country and embrace public transportation.

<ul class="summary-list"><li>Jason Bennett, 46, moved from San Francisco to Medellín, Colombia in 2018.</li><li>Bennett quit his job at Banana Republic to move abroad and launch two startups.</li></ul>Jason Bennett had a successful career in San Francisco but didn't see a future for himself in <a target="_blank" href="https://www.businessinsider.com/quit-job-after-rto-mandate-never-work-office-again-2024-9">the corporate world</a>.Bennett, 46, worked as a senior marketing director for Banana Republic. He earned a good salary and received great bonuses but <a target="_blank" class="" href="https://www.businessinsider.com/american-employees-disengaged-work-meaningless-fake-email-jobs-2024-6">felt unfulfilled</a>."I started to feel a disconnect with both my job and my city," Bennett said. "I started to wonder if I really wanted to spend the rest of my life in an office working for other people."In 2015, Bennett <a target="_blank" class="" href="https://www.businessinsider.com/millenniall-quit-job-start-business-shares-advice-entrepreneurship-networking-mentor-2024-9">quit his job</a> at Banana Republic and founded True Star Consulting, a marketing firm that specializes in strategic planning and creative direction for brands. He said he had saved enough for the future and was ready to start a new adventure at the age of 37.At that time, Bennett moved to Lisbon and began running True Star Consulting as a <a target="_blank" href="https://www.businessinsider.com/millennial-retired-parents-digital-nomad-family-live-abroad-cheaply-2024-8">digital nomad</a>. In 2016, he visited Medellín, <a target="_blank" href="https://www.businessinsider.com/gen-xer-moves-from-california-to-columbia-for-cheaper-retirement-2024-9">Colombia</a>, and said he envisioned it as his future home. He relocated there two years later.While many Americans are <a target="_blank" class="" href="https://www.businessinsider.com/baby-boomer-financial-independence-retired-age-60-puerto-vallarta-mexico-2024-9">moving abroad for retirement</a>, Bennett is among the working professionals <a target="_blank" class="" href="https://www.businessinsider.com/millennial-four-day-workweek-netherlands-chiropractor-high-skilled-visa-2024-9">seeking a career</a> outside the US. According to <a target="_blank" class="" href="https://www.fvap.gov/uploads/FVAP/Reports/2022-OCPA-Report_Combined_Final_20230925.pdf">data</a> from the Federal Voting Assistance Program, which helps overseas citizens vote in US elections, 429,674 US citizens lived in South and Central America and the Caribbean in 2022, up from 374,241 in 2012."It was one of, if not the best, decisions I've ever made," Bennett said. "It always felt like home."<div type="image" title="Photo shows Jason Bennett, 46, looking over Medellín, Colombia, where he moved in 2018" height="853" width="1280" msid="114013025" hostid="261" sizebytes="301036"></div><h2 id="ecf25e36-8f0b-40e5-a4ac-8b941ed2b04d">Building financial independence started at a young age</h2>Bennett was born and raised in San Francisco. He earned his bachelor's degree in business administration from the University of Oregon in 2000.After college, Bennett worked in marketing at the department store Mervyn's before joining Banana Republic in 2004. Over the next decade, Bennett ascended through the corporate ranks, becoming a director of marketing in 2013 and a senior director shortly after.While Bennett enjoyed his job, he said he felt unsatisfied with his day-to-day work. He wanted to take ownership of his schedule and career growth."At the end of the day, I wanted to be my own boss," he said.Bennett said the prospect of quitting his job at Banana Republic seemed reasonable because he had been actively saving and was diligent about his finances."Very early on, my grandparents told me to max out my 401(k) and then go have fun, and that's what I did," Bennett said. "The lesson of compound interest should be topic No. 1 for anyone thinking about one day charting their own path."In 2012, while still living in San Francisco, he bought a one-bedroom, 700-square-foot condo for under $400,000. Bennett said he chose a 15-year mortgage to accelerate his home equity and lock in a lower interest rate.Bennett also grew his wealth through investing in stocks, index funds, and fixed-income securities like certificates of deposit. He's been keeping detailed track of his finances since 1995, when he was 17 years old.Bennett said he felt confident to quit his own job to earn a fraction of the salary at his own company — and he felt confident to move abroad. He declined to share what his company books in revenue."I didn't know I was going to do this when I was 25," Bennett said. "But I did know it was important to save."<h2 id="70ee5480-51eb-4164-ab61-205bbf2d0ddc">Life in Medellín compared to San Francisco</h2>Bennett said life in Medellín is incredible, from the weather to the culture and food.He said his cost of living is much lower than in San Francisco. For example, he said he can have "excellent meals" for less than $10, and a cup of "the world's best coffee" for less than $2. He also said public transportation and Uber are inexpensive<div type="image" title="Photo shows a cup of coffee in a café in Medellín, Colombia." height="1695" width="1440" msid="114013028" hostid="261" sizebytes="189744"></div>Bennett is single and child-free, which also keeps his daily costs down.He feels so passionate about Medellín that he founded a tourist company, The Paisa Plan, to help people plan their visits to Colombia and the city. However, Bennett declined to share what his company books in revenue.He also volunteers his marketing strategy services for the Medellín Philharmonic Orchestra."It reflects my love, respect, and appreciation for my adopted home, and aims to help visitors really discover the magic of Medellín," he said.<div type="image" title="Photo shows Jason Bennett, 46, in Medellín, Colombia, with his mother." height="3024" width="4032" msid="114013030" hostid="261" sizebytes="2150056"></div>He said he is still smart about savings, despite having a lower cost of living.Six years into his life in Medellín, Bennett said he has a better work-life balance than he ever experienced in San Francisco. Additionally, he said the city is full of energy."I also take every opportunity to explore the city and immerse myself in what it has to offer," he said. "There are so many excellent restaurants and cafés. More stunning parks than you can count. And there is always something happening culturally."Are you an American who moved abroad for work? This reporter wants to hear your story. Please reach out at <a target="_blank" class="" href="mailto:jtowfighi@businessinsider.com">jtowfighi@businessinsider.com</a>

A Gen Xer quit his corporate job in SF and moved to Colombia. He said Medellín is more affordable and he's been able to launch 2 startups.

<ul class="summary-list"><li>Jason Nelson, a musician in Hoboken, earns $175,000 a year by performing at weddings and events.</li><li>Nelson transitioned from email marketing to full-time entertainment in October 2020.</li></ul>This as-told-to essay is based on a conversation with <a target="_blank" href="https://www.essentialjasonnelson.com/">Jason Nelson</a>, a 29-year-old musician and entertainer in Hoboken, New Jersey. It's been edited for length and clarity.I'm a saxophonist, pianist, and business owner with a marketing degree and a certificate in recording arts. I earn around $175,000 a year in revenue playing events. I don't pay a manager, but I have limited business expenses related to gear, marketing, and transportation.After graduating in 2017, I worked as an assistant strategist and then as an <a target="_blank" class="" href="https://www.businessinsider.com/passive-income-email-marketing-business-steps-start-grow-subscriptions-members-2024-6">email marketing</a> coordinator. When I took my side hustle full-time, I started making around $125,000 more than my last salary.Since October 2020, I've been a full-time entertainer for weddings, private events, and nightlife.<h2 id="ae6c5ebe-90cf-4dc9-ac0a-abc9a4ead51a">I started music as a side hustle in March 2019</h2>I've <a target="_blank" class="" href="https://www.businessinsider.com/children-who-practice-this-hobby-are-more-likely-to-be-successful-as-adults-2016-7">played the piano</a> for 21 years and the alto saxophone for 18. From an early age, I learned that my pitch is perfect, which allows me to play any song by ear.During my free time in college, I spent hundreds of hours mixing dance tracks in my DJ software program for my friends, and I DJ'ed myself occasionally.Around 2015, I started an <a target="_blank" href="https://www.instagram.com/EssentialJasonNelson">Instagram account</a> where I posted short videos of popular songs on the piano and sax. I eventually was hired by a friend's sister to play cocktail hour piano at her wedding. She also had me play along with the <a target="_blank" class="" href="https://www.businessinsider.com/worst-things-guests-do-at-weddings-from-a-wedding-dj-2023-9">DJ for the intro to her reception</a>, and I ended up staying for the entire wedding.<h2 id="1c8a7211-51e6-4dbc-8ad3-488490136532">I was so attracted to the adrenaline rush that I became obsessed with replicating the feeling</h2><div type="image" title="a man playing a saxophone at a wedding" height="3333" width="4444" msid="112286557" hostid="261" sizebytes="472782"></div>I contacted several entertainment companies in my area and started getting booked to play at events. In addition to compliments about my musical talents, I kept being told I had so much energy and I was the life of the party. I realized my greatest passion was entertaining others.While playing several events each weekend and still working my email marketing job, I built relationships with DJs, event planners, photographers, videographers, and other entertainers.I also gathered content from my events to grow my Instagram and <a target="_blank" href="https://www.tiktok.com/@essentialjasonnelson?_d=d8h220f2dl59jf&amp;language=en&amp;sec_uid=MS4wLjABAAAAK0cUJs2HCg44FBVU5KSAgOLpPzPJCKKN38eofqbndHppgmwmXIrObVuRneSrfXOh&amp;u_code=d7f919k07d8lke&amp;utm_campaign=client_share&amp;app=musically&amp;utm_medium=ios&amp;user_id=6720542635264689157&amp;tt_from=copy&amp;utm_source=copy&amp;source=h5_m">TikTok</a> accounts, from which at least 50% of my event leads now come. I can reach virtually anyone worldwide, which has led me to incredible destination events in places like Puerto Rico, St. Maarten, and, later this year, Aruba and Dubai.<h2 id="cd757c08-6fa6-469c-9e92-b3841baf567b">I wanted to leave my 9-5 marketing job at the start of 2020</h2>When the pandemic hit, I lost practically all my event bookings lined up for the rest of the year.I was fortunate to still have a paycheck and work from home when most full-time event industry professionals were shut down completely. I continued to <a target="_blank" class="" href="https://www.businessinsider.com/side-hustle-recommendations-jobs-to-try-this-year-concerts-surveys-2024-3">grow my side hustle</a> by networking virtually, posting content, and working on the administrative part of my business because I knew it was only a matter of time before events came back.A surge of events started in 2021, and I knew I made the right decision to leave the 9-5 world the previous October. Thankfully, I had enough savings that if I failed, I could support myself for a decent amount of time or return to corporate work if need be.Most of my live music packages start at $2,500 and peak toward $5,000, while the average is around $3,500. I play around 50-60 weddings a year and have had multiple occasions where I play two weddings in one day.<h2 id="3829df52-830e-4c44-ab1c-c227aca5282f">I saw a lot of growth in August 2022</h2><div type="image" title="a man playing a saxophone at a wedding and the couple is shooting smoke" height="1365" width="1820" msid="112286565" hostid="261" sizebytes="240724"></div>Since I don't have an agent or any employees, when I started receiving an increase in demand, I was overwhelmed with how manual the booking process was.I used to send out contracts and invoices using Google Docs and Sheets templates, converting them to PDFs, and having clients manually sign and scan them back to me. After hearing about <a target="_blank" href="https://www.honeybook.com/">HoneyBook</a> from a friend, I upgraded my technology, which increased my revenue. My business looks more professional now and I'm saving time.<h2 id="8a3ddfc0-0575-4017-af06-f6200a7ca66e">I've played more than 400 events, including more than 200 weddings</h2>Some of my career highlights include the New York Jets' official 2023 team roster party and Teresa Guidice and Luis Ruelas' one-year anniversary dinner cruise, which was filmed for "Real Housewives of New Jersey" on Bravo in 2022.<div type="image" title="a man with a saxophone poses with Luis Ruelas and Teresa Giudice" height="1134" width="1512" msid="112286562" hostid="261" sizebytes="119572"></div>I love it when couples share their must-play list with me, but it's not mandatory since I read the crowd to determine the best times to make an impact. I often rehearse songs on the piano how I want to play them for a ceremony, but my saxophone practice is built entirely on the fly at each event.<h2 id="376ef37d-3a66-482d-bdcc-5cddcd29dd38">If you're looking to go into the entertainment industry full-time, find your strengths and triple-down on them</h2>You can always hire or outsource other parts of your business that aren't easy or natural to you. What sets you apart from the rest will be your "it" factor, so clients will want to hire you for you.This is my dream job. I love seeing the joy on the faces of every guest I interact with. My success isn't measured by playing all the right notes — I win by bringing the energy to the dance floor and couples telling me they had the best night of their lives.I have no regrets about <a target="_blank" class="" href="https://www.businessinsider.com/quit-big-tech-dream-job-pay-perks-not-worth-it-2024-5">quitting corporate work</a>. My life has been much more stable over the past five years. If I had let a few hundred dollars a month of health insurance hold me back from quitting my full-time job, I would never have had all these incredible experiences.

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