He is well educated and has several degrees ( a lot more than what I've got! )

So, basically, this guy could get a job in many places, but does not have any savings. No savings = no mobility. A sad fact of life, but true.

You have raised a good point. The problem with being over educated and over qualified is, it can actually make you useless at more practical aspects of life. A english girl I knew went back to England after China, got an MA and got qualified to teach in the UK, yet, she was still perpetually broke and went back to China to teach, which with her newly acquired qualifications I thought a stupid idea. The reason she was broke was she started renting some expensive upscale apartment in her hometown which was out of the league of an ex china FT and newly qualified UK FT, those apartments were aimed more at yuppies and wealthy international students and businessmen/football players and so on. It seems living within your means, being frugal, and not buying stupid clothes and stuff you don't need can't be taught at university or teaching institutes....