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My wife and I have probably hit a point where if we really wanted to we could cash in and probably just go the grid for the rest of our lives. We're not rich, b
by bane 6y ago
My wife and I have probably hit a point where if we really wanted to we could cash in and probably just go the grid for the rest of our lives. We're not rich, but we've put together a plan where it would be possible to do this if either of us ever really said "fuck it".
The anxiety really comes when we start thinking about old age. Where dipping back into the workforce if we needed to is not really possible and unexpected expenses are likely. So I guess it's keeping to the grind to build as much of a safety net for those days as we can until we really decide to pull the trigger.
We both know enough people who are "independently poor" and seem to make it day to day without too much fuss in the short term. But almost all those same people we know end up in catastrophic financial emergencies over the longer term due to unexpected expenses they can't surge their finances to meet. For us it just means we don't put as much away for retirement for a paycheck. For them we've seen evictions, garnished wages, divorce, ruined credit, bankruptcy, and so on. It's a vicious cycle that starts with being relatively expensive and ends up being ruinous.
- granshaw 6y agoSounds like old age medical expenses is the biggest fear - have you all considered emigrating to a country with govt provides healthcare to address that possibility?
- bane 6y agoYes. We plan on retiring outside of the U.S. primarily due to the medical nonsense making our expected cost of living much lower in old age.
- nemetroid 6y agoDo you plan on living and paying taxes for a substantial amount of time in your target country?
- justnotworthit 6y agoHow would they retire in a country without following its immigration laws? You're tattle telling on behalf of no one.
- bane 6y agoYes. As well as patriating most/all of our savings into the local economy via real estate, etc.
- cauliflower2718 6y agoWhere do you plan on retiring? Which countries are good for this?
- bane 6y agoDue to family (wife and in-laws), probably South Korea. As per the recent COVID-19 situation, and some minor personal experience, their health care system is quite good and efficient. Housing isn't unreasonable by our standards (but it can be expensive for some people), food, transportation, internet access, etc. are all relatively cheap, high quality, and plentiful. We also have a built in network of family and friends there so we could get situated quickly. Spain is in consideration as well due to universal health care, low cost of living, great food and climate, and a big expat English speaking community. However, it's generally harder to get some Korean food stuffs that my wife and I would enjoy and we don't know the language, culture or territory as well.
- nyxtom 6y agoRecommendations?