Lets talk about retirement

[TMNT99]

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?

It more that sufficient for 1 person. My advice is to rent accomodation and don't ever buy one. There may be a new law coming next year that tax long term residents(more than 180 days/ year) external income-gotta watch how this develops.

[lao3hero]

Originally Posted by TMNT99

It more that sufficient for 1 person. My advice is to rent accomodation and don't ever buy one. There may be a new law coming next year that tax long term residents(more than 180 days/ year) external income-gotta watch how this develops.

Do they base on actual stay there? As in based on travel records? Thank u.

[TMNT99]

Originally Posted by lao3hero

Do they base on actual stay there? As in based on travel records? Thank u.

Yes, can't run, can't hide either.

[TMNT99]

Thailand and SG has double income tax agreement, so if you pay SG tax which is much lower rate. You dont have to pay TH income tax, this is for now, nobody knows when it can change again.

[fallen11]

Originally Posted by TMNT99

Thailand and SG has double income tax agreement, so if you pay SG tax which is much lower rate. You dont have to pay TH income tax, this is for now, nobody knows when it can change again.

problem is retirees probably have passive income from outside sg. Those will get taxed as sg does not tax those

[TMNT99]

Not sure about that, it still in the works. Plenty of retirees Farang crying foul on online forums. Some Elite Visa holders are also a bit concerned.

[VoicesWithin]

Nearing 55. So the Retirement topic is always close to heart.

I have kids. So the FIRE option is not available. Have to work till 65. I hear that ageing diseases like Alzheimer's, Parkinson and Dementia are on the rise. They say the best way to counter them is to stay active - or work. So, much as I dislike working till 65, I guess I just have to do it.

Post 65, my plans are simple:

CPF ERS wife: $2500
CPF ERS me: $2500
Rent: $3000
Total: $8k for 2 pax

With soaring inflation, I am not sure if this is enough?

Wife wants to work past 70. She loves her job. I can't say the same for mine.

The car has to go. COE is now $140k. The thought of it saddens me. Just have to learn to take public transport. Haiz.

Medical wise, both wife and me have H&S insurance. If warded, the insurance kicks in to cover the bill. Else, just hang out at polyclinics and spam our CHAS card.

Did consider retiring in Perth. I love that place. My rental property is there. But as I aged, I realize it is a piped dream. My family is here. My kids are rooted here. There is no way I can retire there. At best, I hope to shuttle between Perth, Singapore and Penang. Move every 3 months. If I can include Switzerland in the rotation, it will be a sweet bonus.

Job wise, I am trying downgrade to one that has as little stress as possible now. To ease into 65 y.o. To me, I am practical. One has to choose wisely. There is no point chionging all the way to 65 only to die of stress related illnesses before reaching it. I am sure we all have lost someone that went too early.

[fallen11]

Originally Posted by VoicesWithin

I have kids. So the FIRE option is not available. Have to work till 65. I hear that ageing diseases like Alzheimer's, Parkinson and Dementia are on the rise. They say the best way to counter them is to stay active - or work. So, much as I dislike working till 65, I guess I just have to do it.

Post 65, my plans are simple:

CPF ERS wife: $2500
CPF ERS me: $2500
Rent: $3000
Total: $8k for 2 pax

If I can include Switzerland in the rotation, it will be a sweet bonus.

Job wise, I am trying downgrade to one that has as little stress as possible now. To ease into 65 y.o. To me, I am practical. One has to choose wisely. There is no point chionging all the way to 65 only to die of stress related illnesses before reaching it. I am sure we all have lost someone that went too early.

honestly
$8k a month for 2 pax, dont think about Switzerland. its not even enough to feed 2 pax even if you do mcdonalds for every single meal per month, at current prices. other than this, it sounds like a decent retirement plan.

retirement is not about stopping work totally. Is about not needing that level of income anymore so can afford to downgrade to a lower paying job anytime you like. Work or dont work, still need to find something to do to occupy your time.

[VoicesWithin]

Originally Posted by fallen11

honestly
$8k a month for 2 pax, dont think about Switzerland. its not even enough to feed 2 pax even if you do mcdonalds for every single meal per month, at current prices. other than this, it sounds like a decent retirement plan.

Samurai Burger meal: $11.50
Lunch and dinner: $11.50 x 2 = $23
2 pax= $23 x 2 = $46
1 month = $46 x 30 = $1,380

Why not enough?

House paid. Kids independent. No car or car loan.

[fallen11]

Originally Posted by VoicesWithin

Samurai Burger meal: $11.50
Lunch and dinner: $11.50 x 2 = $23
2 pax= $23 x 2 = $46
1 month = $46 x 30 = $1,380

Why not enough?

House paid. Kids independent. No car or car loan.

Switzerland.
You know the price of 1 mcdonalds in Switzerland?

https://au.news.yahoo.com/aussie-tourist-shocked-after-paying-60-for-mcdonalds-meal-070228957.html?guccounter=1&guce_referrer=aHR0cHM6 Ly93d3cuZ29vZ2xlLmNvbS5zZy8&guce_referrer_sig=AQAA AAWwnxz_xAMRHwSI6ZtjoRnALHRaa9m0tn_AS1wRkwXNhcGpX3 ZeU0Sx8xQgNDh9iTXWA22VzZsZfchM7KTFwFuUNyYDEB4k4Kfw vH_41XthuKEXoqU1FriGQNUIX-A3EIGbHGRoK59QpCqUoapWdqb1SYPxd7e1-lLcSI9mRNkL

[VoicesWithin]

Originally Posted by fallen11

Switzerland.
You know the price of 1 mcdonalds in Switzerland?

https://au.news.yahoo.com/aussie-tourist-shocked-after-paying-60-for-mcdonalds-meal-070228957.html?guccounter=1&guce_referrer=aHR0cHM6 Ly93d3cuZ29vZ2xlLmNvbS5zZy8&guce_referrer_sig=AQAA AAWwnxz_xAMRHwSI6ZtjoRnALHRaa9m0tn_AS1wRkwXNhcGpX3 ZeU0Sx8xQgNDh9iTXWA22VzZsZfchM7KTFwFuUNyYDEB4k4Kfw vH_41XthuKEXoqU1FriGQNUIX-A3EIGbHGRoK59QpCqUoapWdqb1SYPxd7e1-lLcSI9mRNkL

You said $8k not enough for 2 pax in Sg. I asked why.

[fallen11]

Originally Posted by fallen11

honestly
$8k a month for 2 pax, dont think about Switzerland. its not even enough to feed 2 pax even if you do mcdonalds for every single meal per month, at current prices. other than this, it sounds like a decent retirement plan.

retirement is not about stopping work totally. Is about not needing that level of income anymore so can afford to downgrade to a lower paying job anytime you like. Work or dont work, still need to find something to do to occupy your time.

did not mention sg at all

[Pictionary]

Looking fwd to a v low profile farmer life, v happy, peaceful and zen living.... however need a lump sum of money.

[fishball]

Anyone here wanna share about retiring in Thailand, Chiangmai and China, Shenyang.?

[fallen11]

Originally Posted by fishball

Anyone here wanna share about retiring in Thailand, Chiangmai and China, Shenyang.?

question is
will china give you a long stay pass?
gonna be realistic here. consider only the places where its possible to get a long stay pass / retirement pass. yes unless you marry their local. But even that, doesnt guarantee you a long stay pass in that country (for some countries)