Lets talk about retirement

[sammyboyfor]

Originally Posted by vinci

yea north of thailand is a good location and 1 of my considered places. i also have new zealand in mind.

NZ is now ridiculously expensive considering the fact that it is nothing more than a backwater.

I would not advise anyone to emigrate to NZ anymore.

[fallen11]

Originally Posted by newnoobieee

some people say Greece is the best place to retire. Many places also good for retire. But all comes down to money, how much do you have to be able to retire? No money no retirement, work your ass off till die.

yup Greece
portugal is the top place now.
only need passive income of at least 9120 euros a year to qualify for retirement visa (the min amount will be adjusted by inflation or min wage level every year). Their min wage is like 760 euros a month only. So things shoudnt be expensive there. Is especially attractive if you like beaches and surfing.
Beaches, as most of portugal's border is facing the sea. Surfing, as waves are pretty strong there.
Income tax rate for overseas income is a flat rate of 7%. Take is as GST...

I understand 1 of the top concerns of choosing where to retire... is the food there. Greek food sounds terrible to me.
Taxes are also another top concern. Imagine high taxes on your passive income and you are not allowed to work there (its a retirement visa, not work visa).

Spain is a very good place. good food, good culture, good weather too. But income to qualify is higher (27k euros a year for passive income) and has high taxes. Your passive income can be taxed by a min of 21%, depending on your passport and any tax treaties signed with Spain. After 5 years, you can qualify to apply for a Spanish PR.

Of course the advantage of an EU retirement visa is that you can get free access to Schengen zone countries. Got a Spanish retirement visa but dont like living in Spain? move over to Portugal anytime then (limited stay may apply per country). Or Italy, Germany, etc.
Switzerland as well, for up to 90 days per half year. Do note that Switzerland is the most expensive country in the world. A Mcdonalds meal can cost you 30 euros there.

Note that these passive income requirements, can be easily met assuming you have at least a 3 room HDB wholly rented out (before taxes, utilities and maintenance costs).

[chubbybastard]

Originally Posted by silvooon

ya bro,thailand damn nice

The problem with Thailand is the language. At least for most of us. Also politically unstable which might lead to unrest.

[peanodood1337]

I used to entertain thoughts of leaving Singapore in the distant past. But after having traveled around for a bit, I've come to the realization that the safety, security and stability in Singapore is pretty much unparalleled.

When you're old and chock full of chronic illnesses, it is not a good idea to stay in places without decent and affordable healthcare. You'll also want to find a safe haven with low crime rate, sound public policies and good international relationships to live out the rest of your days in peace.

Yes, the cost of living can be cheaper in other countries. But there are pros and cons everywhere you go. This is something everyone of us must weight properly before making our decisions. Always remember that the grass will always look greener on the other side of the pasture.

To be honest, I think it is entirely possible to live comfortably as Average Joes in Singapore. Spend within your means. Take public transport. Go for BTO. Cook or eat at coffee shops. Send your kids to public schools. Visit polyclinics and public hospitals. Stop visiting whores. Don't make stupid mistakes with your money. It'll be fine.

If you run into a financial emergency, as long as you are holding onto a Pink IC, you can always seek waivers or whatever with your MP. They are paid multi-million dollar salaries to serve the people - make them work for you as and when necessary.

So what should you do if you want to be able to afford the finer things in life? Start investing. Don't speculate - none of that crypto NFT bullshit. Buy blue chips, bank bonds, government bonds. When you get dividends, don't blow the entire load on useless things. Put the money back into your investments. Make your money make money for you.

Yes, this all sounds very boring. But boring = stability. Which is good. We don't want our finances to be like a roller-coaster ride ya? Anyway that's just my 2cts. Maybe its the National Day patriotism speaking. But I reckon Singapore seriously isn't all that bad.

Wishing everyone happiness and health. Take care.

[AhbubAikAr]

Originally Posted by peanodood1337

I used to entertain thoughts of leaving Singapore in the distant past. But after having traveled around for a bit, I've come to the realization that the safety, security and stability in Singapore is pretty much unparalleled.

When you're old and chock full of chronic illnesses, it is not a good idea to stay in places without decent and affordable healthcare. You'll also want to find a safe haven with low crime rate, sound public policies and good international relationships to live out the rest of your days in peace.

Yes, the cost of living can be cheaper in other countries. But there are pros and cons everywhere you go. This is something everyone of us must weight properly before making our decisions. Always remember that the grass will always look greener on the other side of the pasture.

To be honest, I think it is entirely possible to live comfortably as Average Joes in Singapore. Spend within your means. Take public transport. Go for BTO. Cook or eat at coffee shops. Send your kids to public schools. Visit polyclinics and public hospitals. Stop visiting whores. Don't make stupid mistakes with your money. It'll be fine.

If you run into a financial emergency, as long as you are holding onto a Pink IC, you can always seek waivers or whatever with your MP. They are paid multi-million dollar salaries to serve the people - make them work for you as and when necessary.

So what should you do if you want to be able to afford the finer things in life? Start investing. Don't speculate - none of that crypto NFT bullshit. Buy blue chips, bank bonds, government bonds. When you get dividends, don't blow the entire load on useless things. Put the money back into your investments. Make your money make money for you.

Yes, this all sounds very boring. But boring = stability. Which is good. We don't want our finances to be like a roller-coaster ride ya? Anyway that's just my 2cts. Maybe its the National Day patriotism speaking. But I reckon Singapore seriously isn't all that bad.

Wishing everyone happiness and health. Take care.

Reading your 2cts does make sense. We keep imagining leaving other places but there's no better place than home.

[header69]

Originally Posted by AhbubAikAr

Reading your 2cts does make sense. We keep imagining leaving other places but there's no better place than home.

It’s safer in Spore too. Just read about the young doctor who made in wrong turn vacationing in S Africa was died in a cross fire gun shot. Wife and child are wounded too.

[silvooon]

Originally Posted by chubbybastard

The problem with Thailand is the language. At least for most of us. Also politically unstable which might lead to unrest.

true that, but i see most of the political problems affects grey area business owners and the sandwich income people.

if have sufficient money and a comfortable little business maybe example a cafe to survive should not be too affected. language wise, can learn la hahahaa

[fallen11]

Originally Posted by peanodood1337

I used to entertain thoughts of leaving Singapore in the distant past. But after having traveled around for a bit, I've come to the realization that the safety, security and stability in Singapore is pretty much unparalleled.

When you're old and chock full of chronic illnesses, it is not a good idea to stay in places without decent and affordable healthcare.

this issue can be resolved by choosing a destination with a direct flight connection to sg.
anything medical, just fly back and do it. Of course the nearer the better
If cant even afford to fly back, then dont even leave sg in the first place.

[Pictionary]

I also think ah. Some girls are brainless and some brainy. If they work as FL irregardless of brains, starting from age 18, provided they are decently good looking, they can retire at 30 years old and fly around the world.

Work sometimes canot move one. Tasks have many layers of challenges, some are related and some are not. Moving up the tasks one by one, once get stuck, this really seperates between super clever and really stupid. If really stupid, cannot move. Nothing to do with hardworking or lazy. Just like enterprise servers and laptop pc. Fortinent firewall and normal windows firewall. If really want to work as a proper engineer at data center, need to learn properly from the start. It's not as simple as making notes and writing down as a expert person teaching you or trying to figure out things.

Aiya, work as security guard the best. However got some job is really cmi.

[Oscar1325]

Anyone successfully retired or living long term in Thailand now? Planning to live there long term and live off my passive income when i hit my early 40s. My passive income hopefully should be around 3k - 4k SGD. Should be sufficient?

[NotVeryRare]

Originally Posted by Oscar1325

Anyone successfully retired or living long term in Thailand now? Planning to live there long term and live off my passive income when i hit my early 40s. My passive income hopefully should be around 3k - 4k SGD. Should be sufficient?

I think it’s still too little

[Oscar1325]

Originally Posted by NotVeryRare

I think it’s still too little

How much do you think is required?

Any bros that is living in Thai now can share your expenses for essentials?

[hilltower]

Originally Posted by Oscar1325

How much do you think is required?

Any bros that is living in Thai now can share your expenses for essentials?

There are some Youtube videos made by guys who moved there.
It has details on the cost of living.

[Pictionary]

Retirement 1

[chubbybastard]

Originally Posted by silvooon

true that, but i see most of the political problems affects grey area business owners and the sandwich income people.

if have sufficient money and a comfortable little business maybe example a cafe to survive should not be too affected. language wise, can learn la hahahaa

What happens when there is looting of your shops or cafe due to the civil unrest?