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#16
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Re: Lets talk about retirement
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if i am you: 1. The car. what do you need it for if you are going to retire? Car expense in sg makes a big difference. 1st its 140k COE + Car cost, then its 10 years of car usage expense like parking, maintainence, repairs, fuel, etc etc. Add all these costs up over 10 years. Do you know the difference in networth can come out to be like 500k after 10 years? imagine you took all this money and put it into a US stock index ETF, yield 400% over next 10 years. Yes this difference can change your life. Car would be the 1st thing to ditch. 2. Oh the "use CPF OA on your kids' education" thing. They have to pay back to cpf with interest. Coming back to the car again. Why not use the car expense for their education instead? 3. "Singapore is probably the best place'. I tend to agree with this statement. its not best in the world.... but probably better than 90% of the world, overall. Thing about sg is.... People come here to stay, to make an income. The reason why people here are willing to put up such high living cost here is because they can earn more here. It makes sense. But.... if you retire, assuming you do not make active income. Then it doesnt make sense anymore to pay that high living cost to live here. Sg is a place to make money. I'm not asking you to follow what i say. Its just some food for thought. |
#17
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Re: Lets talk about retirement
Point 2 sounds like a good idea. Rent your HDB out and rent a cheap apartment overseas. But how to obtain visa for foreign country, this is the tricky part unless u don't mind travel in and out of the country every month.
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#18
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Re: Lets talk about retirement
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__________________
Tips for ALL samsters.
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#19
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Re: Lets talk about retirement
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There are practically 2 ways to tackle this: 1. Look for countries that issue retirement visas. Not only in asia. Look at other parts of the world. Found this list on the net, may be a good point to start. You can see that most of these countries would probably require some form of passive income to qualify ( i think thailand doesnt need passive income). https://wherecani.live/explore-optio...irement-visas/ My idea is do at least visit and try staying there at least a month on minimum expense and see if it suits you there. 2. Have enough money, pay for an investment visa. generally expect to at least fork out USD 500k in order to get an investment visa. Note that this USD 500k is not an expense (for most countries that offer it), but a minimum investment amount. You can still get the money back. The only problem is the limited choice of investments that qualify for the visa, or making an investment in that country might yield little for you or even make you suffer financial loss. |
#20
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Re: Lets talk about retirement
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if one has the money to retire in Singapore, it truly is a well shielded place. no natural disasters, security, healthcare, amenities. |
#21
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Re: Lets talk about retirement
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but have to pay the cost of living in such a good place too. Cant have it both ways There are places which are as good and yet cheaper too. Just have to explore and find it. The world is so big. |
#22
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Re: Lets talk about retirement
ya bro,thailand damn nice
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#23
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#24
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Re: Lets talk about retirement
Work until got enough saving and buy house in Thailand. Then retired and live like a king 🤴 :
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#25
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Re: Lets talk about retirement
Wow. This is one of the very rare quality thread..
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#26
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Re: Lets talk about retirement
Easier to retire if u r single, if your plan is go somewhere like Vietnam or Thailand to stay your spouse will definitely object, not easy to please SG women
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#27
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Re: Lets talk about retirement
I read your opinions and I agree with you. Might consider Bali for retirement..?
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#28
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Re: Lets talk about retirement
[QUOTE=fallen11;22389311]Let me define retirement first:
Retirement is the time when you do not need to stay in a job for money. Its not about stopping everything and doing nothing. Many people are stuck in their jobs & wanting to leave, but cant, because they need that income & cant accept a lower income. Retirement is about - i can leave this shit already. i dont need the income anymore or that level of income. Dont need to suffer this daily for that income. Can take a easier or happier job at lower income. Or even stopping work altogether with zero income. "Income" mentioned above refers to active income only. excludes passive income. What are your plans for retirement, as defined above? Where would you retire in? (please take into account about the realistic possibility of getting a long term stay visa in that place. Dont tell me a place like Japan)[/QUO |
#29
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Re: Lets talk about retirement
will retired at Thailand
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#30
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Re: Lets talk about retirement
yea visa is an issue i need to overcome
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