Retirement, any takers?

[corydorus]

I know Countries have varying tax rules on foreign incomes rather than whether you use sg account or not, to trade.

[NTL]

I know Countries have varying tax rules on foreign incomes rather than whether you use sg account or not, to trade.

This means that If I don't wish to pay capital gain tax, then will have to choose one that does not impose tax on it?

[edragon]

I think i am better off retiring somewhere out of Singapore. Hopefully with some money when the time for retirement comes. I wish to find a place where i can enjoy the company of my wife, do some painting or grow some vegetables. I don't think i want to burden my children. I see some good news and bad news on how children treat their old parents. pretty scary i must say. Better to think of myself first, anything else is a bonus!

Taken from a partial translation of Chinese advice to 50+ years olds.

QUOTE:

"Don't worry too much about your children, for children will have their own destiny and should find their own way. Don't be your children's slave. Care for them, love them, give them gifts but also enjoy your money while you can. Life should have more to it than working from the cradle to the grave!!

Don't expect too much from your children. Caring children, though caring, would be too busy with their jobs and commitments to render much help.

Uncaring children may fight over your assets even when you are still alive, and wish for your early demise so they can inherit your properties and wealth.

Your children take for granted that they are rightful heirs to your wealth; but that you have no claims to their money."

UNQUOTE.

[corydorus]

I know Countries have varying tax rules on foreign incomes rather than whether you use sg account or not, to trade.

This means that If I don't wish to pay capital gain tax, then will have to choose one that does not impose tax on it?

In Taiwan for example, I am aware there is NT$6M limit currently on total income (including foreign income less exceptions under AMT), where for sum above will be taxed. Is best you clarify with relevant tax authorities or consultants, on the country of destination.

[raiden]

I think i am better off retiring somewhere out of Singapore. Hopefully with some money when the time for retirement comes. I wish to find a place where i can enjoy the company of my wife, do some painting or grow some vegetables. I don't think i want to burden my children. I see some good news and bad news on how children treat their old parents. pretty scary i must say. Better to think of myself first, anything else is a bonus!

Taken from a partial translation of Chinese advice to 50+ years olds.

QUOTE:

"Don't worry too much about your children, for children will have their own destiny and should find their own way. Don't be your children's slave. Care for them, love them, give them gifts but also enjoy your money while you can. Life should have more to it than working from the cradle to the grave!!

Don't expect too much from your children. Caring children, though caring, would be too busy with their jobs and commitments to render much help.

Uncaring children may fight over your assets even when you are still alive, and wish for your early demise so they can inherit your properties and wealth.

Your children take for granted that they are rightful heirs to your wealth; but that you have no claims to their money."

UNQUOTE.

Nice advise!

[CityFarmer]

How about a retirement life as the followings... These were taken during a recent site visit ...

An agricultural play ground, good air condition, a walking distance from beach, good water quality (under-ground water), air-conditional room and Internet-ready.

   

A high-rise home within a city with full amenities, near to a beach, 15 minutes to the play ground by motorbike.

   

Well-connected to other parts of China and the World by high-speed trains, and international flights.

   

[sgd]

Seriously speaking for people whose intention to stay long in any country or migrate the most important thing to ever consider is to check the track record of how the government and people treats it's minorities.

In our region the countries with bad rap for persecuting their minorities.

China --> Tibet
Myanmmar --> Suppression and persecution of Karen minorities and other ethnic tribes
Indonesia --> Unverified Reports of Military Soldiers raping over 600 chinese women during 1998 riots.

If these countries can't treat their minorities well you should wonder if they can turn on you at moment's notice during unrest. Is one thing to invest at most lost money during market crash but life could be danger.

For best behavior my vote goes to thailand all the successive governments from beginning till now have never persecuted their minorities. For retirement I think any place in thailand is good except maybe in southern Thailand due to unrest.

plus points: thailand net rice exporter, food and water plentiful and cheap. No pollution issues, Good infrastructure, good healthcare, good transportation, well organized tolerant society.

minus points: royal family succession if not handled properly may lead to instability.

----

Another country that I see is tolerant and trying to catch the retirement investors is phillippines I read somewhere they have such a thing as retirement visa (below 40yo) where put some money in bank then stay there for as long as you like.

http://www.minnpost.com/global-post/2012...hilippines

[KopiKat]

For me, what's most important (especially with young dependents) are,

1. Political Stability - I wouldn't want to be in the situation where there may be any chance of an uprising either by the people or the military.

2. Safety - To family, self & property. I wouldn't want to live in a place where crime rate is high and be always worrying about safety, especially more so at night.

3. Infrastructure - Utilities (Power, Water, Telecom), Transport, Facilities (Healthcare, Shops, Schools...). Basic needs / comforts of life.

4. Natural Disaster - This is of course really beyond our control but covers things like earthquake, typhoon/hurricane, flood, bush fire... The countryside may be great, but, not if it's a natural disaster magnet...

I suppose (1) to (3) easily removes many of the low cost options...

IMO, Singapore is a great place to be... if you can afford to retire here. If you're young enough, work hard, don't go for short-cuts... Aim for enough ($$) to retire in Singapore so that you can have the free option to retire almost anywhere else if you so desire or treat Singapore as a HQ and have the choice to stay for longer periods in different countries.

Especially for buddies here, if you'd been able to save and invest for a good enough returns all this while, I don't see why you won't be able to achieve your dreams...

[NTL]

For me, what's most important (especially with young dependents) are,

1. Political Stability - I wouldn't want to be in the situation where there may be any chance of an uprising either by the people or the military.

2. Safety - To family, self & property. I wouldn't want to live in a place where crime rate is high and be always worrying about safety, especially more so at night.

3. Infrastructure - Utilities (Power, Water, Telecom), Transport, Facilities (Healthcare, Shops, Schools...). Basic needs / comforts of life.

4. Natural Disaster - This is of course really beyond our control but covers things like earthquake, typhoon/hurricane, flood, bush fire... The countryside may be great, but, not if it's a natural disaster magnet...

I suppose (1) to (3) easily removes many of the low cost options...

IMO, Singapore is a great place to be... if you can afford to retire here. If you're young enough, work hard, don't go for short-cuts... Aim for enough ($$) to retire in Singapore so that you can have the free option to retire almost anywhere else if you so desire or treat Singapore as a HQ and have the choice to stay for longer periods in different countries.

Especially for buddies here, if you'd been able to save and invest for a good enough returns all this while, I don't see why you won't be able to achieve your dreams...

For the reasons you have mentioned, Singapore is able to attract people to come here and stay, especially those that can afford the living standards here. They will also treat here as HQ to go around this part of the world. Of coz,there are also others reasons for them to be here too.

[edragon]

There is good government when those who are near are happy, and when those who are far away desire to come... Confucius.