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My plan is to retire in 5-7 years. I could do that sooner if I went into stock market (and prayed that the mythical 4% per year returns will be sustainable in t
by taway_1212 9y ago
My plan is to retire in 5-7 years. I could do that sooner if I went into stock market (and prayed that the mythical 4% per year returns will be sustainable in the future) or became a landlord, but I prefer to play it safe.
- Luc 9y agoWould you be retiring in Poland? What kind of monthly expense do you foresee? I'm also dreaming of doing this, though currently on the other side of the world.
- taway_1212 9y ago> Would you be retiring in Poland? What kind of monthly expense do you foresee? Yes, retiring in Poland. My plan is to go broke at 90-95. I'm thinking 5000-6000 PLN per month ($1300-$1500), plus owning a property, will allow for a great living. This should even cover a very good nursing home (well as far as these places can ever be very good) when I'm unable to take care of myself. (I dont' and won't have children). BTW there seems to be plenty of people from the UK who moved permanently to SE Asia (I imagine it can be cheaper than Poland + no winters) and who are sustained via rent from their London flat/house.
- Luc 9y agoYes, I actually know of a couple on a sailboat living off the rent of their house in London. I would like to retire in Europe. Thanks for your answer, it's nice to have a realistic ballpark figure.
- charlesdm 9y agoWhat is playing it safe? Keeping it in cash in a bank account?
- taway_1212 9y ago> Keeping it in cash in a bank account? Yes. There are accounts in Poland which pay around 0-2% post-tax above inflation (the number vary year-to-year, depending on current economical conditions), which will help the capital still earn a bit of money.
- charlesdm 9y agoKeeping your entire net worth in one currency seems pretty risky to me. Nothing is ever as it seems.
- taway_1212 9y agoYes that is a risk. Maybe I'll put some money into USD/EUR too.