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He's about to enter a very demanding and potentially lucrative job. Let's see if he holds the same opinion after being subjected to office politics, lovely bosses/coworkers, work-related stress and/or the fact that his potentially lucrative job may not be so lucrative/secure after all. Also, retirement =/= doing nothing. I'm glad that the thread title emphasizes the term financial independence instead of the more loaded "retirement."
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Jul 18, 2013 16:49
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$111,600 and $12,000 at age 60. drat that's depressing. 
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Jul 18, 2013 19:39
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Switchback posted:Getting back on track, my path to financial independence is taking shape thanks to taking a job in Singapore. What a crazy place... It's like the mecca of consumerism. For the price of a car, I could retire to Philippines (which is my current goal. May decide against it eventually, but I have a harder time saving without a concrete goal in my head.) Are you Filipino sir? As I stated earlier in this thread, this is also our plan. I don't have any opinion on the stock market but it's still an investment avenue. I'd rather invest in index funds here in the States. I don't think index funds exist in the Philippines. Mutual funds and VULs are the vogue and they both suck with their front/back load fees and exorbitant annual fees. The home mortgage industry is not yet matured so a "good" annual interest rate starts at 7% which is pretty absurd. That's why we plan to save a lot of money to eventually be able to construct our own home purely with cash. In the next five years, we're planning to buy a piece of land somewhere NOT in Manila (don't live in Metro Manila because it's already congested as gently caress) and build a home 20-25 years down the line to be able to retire comfortably. Tuition fees in the Philippines are dirt cheap compared here in States. Both me and my wife finished college by spending "only" around $12,500 TOTAL (tuition and miscellaneous) for our four year degrees in a prestigious university (by Philippine standards, one of the Big 4). Thanks to our culture, it's the parents who shoulder their children's educational expenses so we don't have any student loans to deal with. My wife and I both appreciate this after seeing the horror stories of people being saddled with huge student loans here in the US. Please take note that tuition fees for expats/foreigners are more expensive than local residents for whatever reason so plan accordingly. As far as we're concerned, we believe we got quality education. We were able to get our CPA licenses here without trouble so I believe the program in our university (at least the Accounting program) is on par with what's prevalent here in the US. Living in the Philippines is awesome. Everything is dirt cheap (except electronic items). Just be prepared to deal with the traffic especially if you're in Metro Manila.
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Nov 6, 2013 14:11
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