Should you decide to become a PT, your next step should be to get yourself a residence address. You need a residence address even if you don't have a residence, for bank statements, tax returns, credit- card bills, etc. Vicki and I use the address of a brother in Washington. Another alternative is to use Mail Boxes Etc. or a similar mail-forwarding service.

A strategic address
The best mailing addresses are in states with no income taxes: Washington, Nevada, and Texas, for example. Because the United States taxes its citizens on worldwide income, whether they live in the States or not, American PTs pay U.S. income taxes. But you should avoid getting caught with a residence address in a state with a high state-income tax. 
Over the years, many wannabes have told me they'd like to be PTs but don't have a relative or friend whose address they can use as a mail drop. I was perplexed. “After all,” I figured, “everyone must know someone with an address.” I finally realized that these wannabes expected too much. They wanted their relatives or friends to open, read, and answer their mail, pay their utility bills, fight tax assessments, manage rental properties, fill out applications, and make investments. Too much. My brother simply tosses my mail in a box.On the rare occasion when I need something, I send him an E-mail.

Since leaving Buenos Aires in 1992, Vicki and I have lived from one month to two years in Austin, Texas; Chapala, Mexico;  Puerta Vallarta, Mexico; London; Chiang Mai, Thailand; Bali; Sydney; Las Vegas; and Paris. Sometimes we just hit the road for several months. When we do, we tend to revisit our favorite countries, but we also like to explore new ones. Right now, for example, we're thinking of Burma, Sri Lanka, Cuba, and Egypt. We're also looking at another round-the-world trip, for six months or so beginning in a few weeks.

We get our ideas about where to live from other PTs, from friends, and from research on the Internet. But we also know what we like and dislike. For example, although we've enjoyed living in small towns and villages, we prefer big cities that offer a lot to do.

Use convenient check cards
Fifth, use Visa or MasterCard check cards. These used to be called debit cards, or combination ATM/debit cards, and they’re available from big brokers like Fidelity and Charles Schwab. Check cards let you access your cash directly. You can stick the card in a cash machine anywhere in the world and get the local currency you need. To access a larger amount, go into the bank and ask for it. You'll get a good exchange rate, often far better than on the street.

I have two check cards, one for everyday use and a second for backup. I also have a credit card, although I prepay estimated amounts due. That way, I don't have to worry if statements catch up to me—though they rarely do. I use the Internet to access all my accounts. Periodically, I check for unauthorized transactions, monitor my exchange rate, and get balance statements.  Forget about traveler's checks. You pay to buy them, get a lousy exchange rate when you cash them, and have a hassle when you lose them.
PTs…the few, the free

Here in Paris, Vicki and I go to conversation groups to practice French. Group members often talk about their lives--you have to talk about something--in French. When it's our turn, we explain the PT lifestyle. Invariably, the younger group members swoon. "How wonderful! What freedom! Just to leave the routine!" But older, more mature members tend to look at us thoughtfully. They too see the freedom from routine. But they ask themselves the tougher questions: “What about my books and mementos? Kids and aging parents? My dream home, and the finally affordable mortgage? Our cars?”

I never argue with them; their points are well taken. The PT life calls out only to the few.

"In a very real sense, our home address is our E-mail address."

"PTs like security and predictability…it's just that security to us is a trusted friend, a helping hand, rather than a government program."