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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.) You really can't talk to most people about this. My parents are the only people I can celebrate hitting my $50k savings goal. Financial planning is awesome. So back to the Philippines! I could retire comfortably there for less than $18k/year, which I could theoretically do by the time I'm like 32 (so ~5 years). I would also like to invest in the Philippine stock market. While currently it might be volatile, I think they're a promising up-and-coming economy with much to offer the world. I totally have a crush on the Philippines. Any thoughts on this? And on the college financing note, I think who you are as a parent will be far more important on how your kid turns out than whether or not you make them struggle paying for school. My education was paid by my parents, and is the only reason I'm in such a great spot now, although I worked 3 jobs through college to pay for food/cigarettes/weed/gas/fun so I guess that was a valuable/motivating lesson. I don't think my friends who are struggling with $30k+ in debt are at all better off for it. They did not get better grades, nor do they have stronger work ethics or "character" to aspire to. Paying for my theoretical kid's education would be a very high priority for me. Of course, degrees from an accredited Philippine university are quite cheap!
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Nov 6, 2013 11:23
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tuyop posted:I've heard that that's a pretty common strategy, expatriating to somewhere cheap, but isn't there a ban on landowning for expats or something? Yes, foreigners are not allowed to buy land. But nobody can buy property here in Singapore either, you can only get a 99 year lease and you have to be singaporean or PR for that. I have no interest in owning property, whether it be here in asia or back home in America. I understand that is a goal for many people, but it is not for me, at least as far out as I can see. This of course might change eventually, but currently I have no ill feelings about renting until I die. I felt that way when I lived in Houston too, where it seemed everybody's only life goal was "buy a house." Philippine stock market has 8 index funds. I am just learning about how to talk about these things, and I don't understand how to measure if it's "good" or not. I am looking into opening an account to trade there. It's a pain. Maybe I can have my FA stateside invest in the PSE from my american brokerage account? That's what they do, right? Although if I want to move there eventually, it might be wise to have a proper local bank account. My dream retirement is to live in a hut in El Nido and rock climb/kayak/dive/yoga/boat and have no electricity each afternoon and live the simple life in this protected nature paradise. Switchback fucked around with this message at 16:19 on Nov 6, 2013 |
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Nov 6, 2013 16:10
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razz posted:I'm not sure how I feel about jobs like you mentioned. Although I'm getting to the point where I can't be picky I suppose. A wildlife friend of mine makes almost 70K a year doing environmental impact stuff for a water treatment plant and she says it kills her soul, watching all the chemicals go into the environment and knowing it's all 100% legal. You test it and say "yep it's contaminated, but it's not too contaminated, send it out into the river". She hates it and says it is making her depressed, she was happier being a field tech making $8 an hour. It would do the same to me; thinking your helping the planet but in reality you're just getting an up-close and personal view of how bad things really are. Am I too pessimistic? I went into this field because of my never ending love for nature. I'm not sure if I could handle watching it legally be destroyed. Sorry to continue this derail, but I'm a proper hippie. After graduating from my progressive liberal arts university, I got a job in big oil. Now I keep those riggers and fitters safe, I help prevent oil spills and other weather-related disasters. It's immensely satisfying because it has a real impact on the world. We need good people on the inside, otherwise it's just evil all the way down. That's how we're going to change the world.
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Nov 7, 2013 22:41
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