Quote: (06-22-2014 10:24 PM)Feisbook Control Wrote:
Quote: (06-22-2014 09:03 PM)El Chinito loco Wrote:
Even if you invest 1.7m well and stick to a retiree type 4% withdrawal that is only $68,000 before tax. I'm not sure what the capital gains tax in the U.K. is but I imagine it's probably more than the 15% in the U.S. So he would be getting a return equivalent to an average office worker's annual wage from having his money invested in diversified index funds and the like. It's certainly not enough to be a baller and take buddies to Ibiza on all expenses paid trips.
I predict he will blow through it fast. If he's getting hit up hard on facebook I imagine every second of his personal life is being pried into and he will sucuumb to one scheme or another.
You'd live very, very well on 68,000USD in Taiwan, and I expect even better in pretty much all of SEA (with the exception of Singapore, maybe Brunei). I expect the same is true of large parts of Eastern Europe and Latin America.
Anyone who is not a multi-millionaire with his money offshore (or young and building his fortune) living in the West is a chump now, a veritable cash cow for the government to milk to provide gimmedats to the underclass at one end and the politicians/bankers/corporations at the other.
The answer is not a false dichotomy between blowing all your money in five years or being a good little tax slave in the West. There is most definitely a third way. Some of us have jumped the fence and are over the hills and far away by now.
Yes, I hear a lot of guys on the forum talking like $50K a year isn't much money, but if you live in the right place, you could be balling, by many standards.
That's one of the reasons I've chosen to live overseas. It's not that every thing is cheap, but generally speaking, I can have a lot more for a lot less.
You get to a point where you feel like spending $20 on a steak is a lot of money, because you constantly eat delicious meals for a $3-4.
I'm the King of Beijing!