Where to live to retire early?

S · Post by S » Sat Jul 24, 2010 4:15 pm

@pbkennedy I totally agree with you. I was extremely concerned about changing residency before doing a lot of research. If you are legitimately traveling, it's a good idea. If you aren't, I wouldn't risk it either.

Steve Austin · Post by **Steve Austin** » Sat Jul 24, 2010 4:29 pm

I use the same mail forwarding service as S, and can vouch that they provide excellent service. The value of the service is better than anything I've received from the USPS when I used to use PO Boxes.
I'm not an attorney, but casual reading has uncovered that there is a difference between legal domicile (something like permanent residence) and current (temporary?) residence.

Muji · Post by **Muji** » Sat Jul 24, 2010 6:31 pm

In regards to Asia, Malaysia seems like a very feasible retirement location. My only issue is the heat - 90s and high humidity year round. I don't think I could take the heat. Weather aside, speaking only English is not an issue and has great healthcare and low cost of living. (good food too!)

I've considered Hong Kong, but property prices can be pretty severe.

Q · Post by Q » Sat Jul 24, 2010 9:21 pm

I think this could be tied to my REIT suggestion as well.
Like Wyndam Worldmark, ERE REIT could own properties all over, mostly rent them out and reserve a few floors in the complex for those that have bought in to ERE. It's just a more private club.
I know it sounds at odds, but Japan would be the best place in Asia to me - especially the west coast. Not only do you have access to a great public transportation system (but u live really far away still), you have ferry access to all of SE asia, as well as access to the trans-lines that can take you to western europe if you go thru china/russia.
If you live in europe already, you have access to asia w/o flying, it just takes longer. When I thought about it, I thought maybe Australia, but in the end, just having a place in Europe counts for Europe and Asia. The same cannot be said for USA and access so south america...

ktn · Post by **ktn** » Sat Jul 24, 2010 10:40 pm

@il-besa: True, CH is expensive.. but I am still tempted because the salaries are so much higher there than here in FI.
Do you get to pay into the Dutch pension system for 100% of that amount? In other words, does the tax reduction result in lower savings into the pension system too?
I know, I know.. for most planning ER a pension is a long way off. But I still consider it a plus because some day we will all be there.

Thanks in advance!

il-besa · Post by **il-besa** » Sun Jul 25, 2010 12:12 pm

@ktn,

pension is private here, so not affected by taxation rules

Ciao

Bytta · Post by **Bytta** » Mon Jul 26, 2010 10:12 am

@ Muji: The weather (and pollution) seems to be the biggest issue in Asia, but it's only bad in the big cities. Even then, after a while, your body will get used to it. But if the low living costs get you years closer to your retirement plan, who cares?
@Jacob: Excuse my blunder. What is quant shop?

Concojones · Post by **Concojones** » Tue Jul 27, 2010 5:52 am

Quant shop: an investment bank or hedge fund. They use complex mathematical models to analyze the market and valuate financial instruments. For that they need "quants" (mathematicians, engineers, PhD's, ...). They pay much more than the classical employers (e.g. a factory if you're an engineer).

Simon · Post by **Simon** » Tue Oct 12, 2010 9:50 am

I have lived in Taiwan for 10 years.
I pay no income tax. That's right zero. Qualified teacher positions are not taxed here.
Normal rate is 6 to 10%
There is no capital gains tax on the buying and selling of stocks.
Houses in the countryside are about 100,000 US dollars.
Food is cheap, healthcare is good [though not quite as good as Western countries] and the people are friendly.
It is quite hot and humid in summer, but not as tropical as Singapore or Thailand. It has many natural areas, though the cities, like most of Asia, are congested. It is much more advanced and friendly than the dog-eat-dog country of China.
Finally, after working here for 5 years you can qualify for permanent residency.
Questions??

tuixiuren · Post by **tuixiuren** » Sat Oct 16, 2010 1:20 pm

@Simon: I lived in Taiwan before, and have been thinking about returning to Taiwan after I switch from full-time work (in the US) to semi-retirement. The thing you mentioned, which I didn't think was possible is getting permanent residency. I didn't think it was possible without getting married. How does the process work? If possible, I would also second Taiwan as a great choice for retirement.

photoguy · Post by **photoguy** » Sat Oct 16, 2010 3:05 pm

"Quant shop: an investment bank or hedge fund. They use complex mathematical models to analyze the market and valuate financial instruments. For that they need "quants" (mathematicians, engineers, PhD's, ...). They pay much more than the classical employers (e.g. a factory if you're an engineer)."
The last job posting I saw for a quant shop had advertised salary in the range of $600K. But to get it you needed (1) the math background, (2) the experience with financial models, and (3) experience with programming the financial models (real-time implementations)
Several schools like CMU have financial engineering masters where you can learn the math. I doubt though that they teach the required programming skills.

Simon · Post by **Simon** » Sun Oct 17, 2010 12:45 am

Hi tuixiuren,
It requires having a work visas for 5 years, and in that time you must be in Taiwan for a certain number of days per year. I am hazy on the exact number, but I have two acquaintances who have such visas.
To get a work visa you must have a job to give you a one year visa. I think the minimum number of hours per week to get a work visa is 22. To get initial entry you must have any University degree.
Perhaps take a look at tealit.com or Micheal Turton's Taiwan blogspot for further inquiries.