Retirement

[Guest]

I stick to my original statement : I'd rather spend $500K having a *really* good time over 8-10 years than trying to make it last for 30 increasingly miserable years.

 

*********

 

Interesting perspective Artie, so after those 8-10 golden years do you plan on taking the Pattaya Plunge? Hope not. There is a lot more to life at 65 than mushy wheatbix, games of bridge and the Friday night square dance.

 

I'll never forget 'Mr. Whippy', a 78-year-old Aussie who padded his pension selling choc-dip ice creams around the suburbs of Brisbane. This bloke was a legend, living Pattaya to its FULLEST!

 

Longevity here in Japan is one of the highest in the world, and I'm always astounded by the number of elderly folks climbing mountains, playing tennis and basically living a meaningful and satisfying life.

 

So what are your needs?

All our actual needs are basic, but the luxuries, well they can add up.

 

Artie, you're in the IT trade if I recall. Unless you really despise your job, why not strive to establish enough online work to generate at least US$1-2k a month on top of your other forms of income?

 

The Aussie taxman may have his greedy eyes on a large chunk of it, but it's pretty easy to fly beneath the radar when you go AWOL.

 

Live for now, but plan a bit for tomorrow.

[gobbledonk]

Artie, you're in the IT trade if I recall. Unless you really despise your job, why not strive to establish enough online work to generate at least US$1-2k a month on top of your other forms of income?

 

Hi Roppongi,

 

Call me a pessimist, but IT seems to get tougher each year, and the risk of jobs being moved offshore also becomes greater with every new startup in Hyperabad. The only way I could see anyone making money via the Net from home is porn or some sort of online scam - both extremely saturated marketplaces. I'm sure even KS has struggled to make NP pay its own way, and its one of the more successful sites. I do have *one* online business idea, but I'll stick with the wage slave gig for as long as I can take it.

 

Even if working from home were viable, I know how many hours even 'simple' jobs can consume, and once you have a user base of any size, the demand for support and enhancements is exponential - suddenly, *everyone* is an expert on the look, feel and purpose of your site. As I said before, the prospect of being hunched over this keyboard at 65 doesnt appeal in the slightest, Amigo.

 

The Pattaya Plunge, eh ? Hmm, now you've got me thinking ::

[torrenova]

I know that for some jobs, you don't have to be in the area or even in the country. I know a translator (english / spanish / german) who lives in Palma (Mallorca) even though the vast majority of his work originates in the UK. The computer and the internet are his office.

 

I suppose some other jobs could work like that. Some in IT surely could but you'd have to have some regualr contacts as making new ones would be difficult. Also, your income would have to be commensurate with the first world where your job originates, not some Bt200 per hour gig.

 

I considered trading but can't be arsed with the short term stuff. Daily alerts and some strategic positions will do me.

[pe7e]

Call me a pessimist, but IT seems to get tougher each year

Artie you're a pessimist! IT doesn't get more difficult, it just gets more competitive. The internet is already causing a revolution in the way people think about and do their work, you must learn to adapt or face the fate of the dinasoures. The fact that jobs are being exported to India just goes to prove the power and viability of advanced communications, I think we have only seen the tip of the iceburg as yet. I plan to finance my forthcomming retirement in LOS with income derived from the internet which is neither porn or a scam. Less than 8 years ago this would have been impossible, now it's quite easy to control things like bank accounts, payments, supplier orders, inventory and fulfilment remotely. I have even operated my UK office computer from my laptop in LOS. If I was you I would be looking at selling my expertise in Australia then sub contracting the work to the young computer professionals in BKK and retaining 75% of the fees! the opportunities are endless provided you keep your eyes and mind open. ::

[Guest]

http://www.etfconnect.com/education/glossary.asp#municipal bond

 

municipal bond fund

A fund that seeks to provide income exempt from federal income tax, consistent with preservation of capital and the fund's risk characteristics, by investing in a portfolio of municipal bonds. State tax must be paid if the bond is issued outside of your home state still no federal taxes..........

I would also check your state law for living overseas

they may still make you pay taxes if income is earned

outside of the state. You may not be able to just drop the state as your home as an american without picking up another state of residence. I claim a state which does not have state tax so I have not done much research on it.

I have worked outside the state of residents for 25 years but still am required to pay taxes on my investments (based on what I have invested and nothing to do with profits, Florida).

 

John Kerry had $5 Mil this year untaxed from muni's in 03.

::

 

 

KhunPadThai said:

You need to refine your financial plans.

 

1. Muncipals are only free of state and local taxes, not federal tax. If you are living in Thailand you would expect not to be subject to state or local taxes unless, for some reason, you choose to maintain a primary residence (more than 180 days per year for NY state) in a State with an income tax.

 

2. You would have a hard time getting 5% on your money in the present market without taking on some risk. The 10 year bond rate is currently 4.4%

 

3. Unless you renounce your US citizenship, you will still have to pay federal income tax, but that won't be much on less than $15,000 per year, but you would feel it.