Retirement Planning

I've enough put away to retire now but have been debating whether to buy out my boss (he's semi-retired right now). Don't know how long I'd want to be a business owner but am afraid he's going to give his kid control of the company.

Either way, I haven't hit 50 yet and am way to young to retire without a plan. I enjoy obsessing over work projects and I fear that will turn to an obsession with the hobby which will eat away those retirement funds pretty quick (though it could be a very enjoyable few years).
 
bazokajoe said:
Singapore....nice!
Your retirement fund must be doing very well.
A very expensive country.
Click to expand...
Actually, my roommate at McGill 3 lifetimes ago is now Chair and CEO of the family business and we have kept in touch ever since. His daughter is currently staying in our coach house while attending classes at UofT. He said I will always have a job in his company so I may "unretire".

Income taxes in Singapore is very low and I think my Canadian source investment income is exempt from Singaporean tax. Anyway, I am allowing myself the next five years to sort out the income, tax and cost of living issues. Plan B is to stay in Canada which is still a very good fallback. Plan C is I go to some place warm in the U.S. So, I do have options.
 
I plan to stay in place in modest abode in the burbs, and mostly enjoy the free time.

I have a bunch of interests ( other than those discussed here) that are waiting for me to have more time to pursue them.

COVID lockdowns taught me that I can spend a lot of time with my wife and not go crazy in the process, so that was a bit like retirement with training wheels..

I am presently on a three day of work a week schedule to easy ease my way out gradually.

I will never run the company, hell never even my work group, not that I would want to. We presently employ over 50,000 globally and about 8,000 in Canada at present

Last year my co worker, 10 years my junior took on that role when former work group boss retired, and he has regretted it almost every minute.
 
Last edited:
Ponderling said:
I plan to stay in place in modest abode in the burbs, and mostly enjoy the free time.

I have a bunch of interests ( other than those discussed here) that are waiting for me to have more time to pursue them.

COVID lockdowns taught me that I can spend a lot of time with my wife and not go crazy in the process, so that was a bit like retirement with training wheels..

I am presently on a three day of work a week schedule to easy ease my way out gradually.

I will never run the company, hell never even my work group, not that I would want to. We presently employ over 50,000 globally and about ,000 in Canada at present

Last year my co worker, 10 years my junior took on that role when former work group boss retired, and he has regretted it almost every minute.
Click to expand...

Being a boss is highly over rated.
 
Put your assets to work and you can retire now.
Rent out your home and coach house as a brothel while you live in a van in the driveway
 
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Brill said:
Put your assets to work and you can retire now.
Rent out your home and coach house as a brothel while you live in a van in the driveway
Click to expand...

Brill is right…. And if any by-law assholes come by to shut down the brothel, tell them to go to hell… this isn’t a brothel, it’s ride sharing.
 
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bazokajoe said:
A very expensive country.
Click to expand...
I did a quick and dirty calculation.

The Singapore income tax rate is less than half the Canadian tax rate. So, more disposable income after taxes.

Also, we're checking to see if offshore investment and pension income is exempt from Singapore taxation.
 
Brill said:
Put your assets to work and you can retire now.
Rent out your home and coach house as a brothel while you live in a van in the driveway
Click to expand...
poker said:
Brill is right…. And if any by-law assholes come by to shut down the brothel, tell them to go to hell… this isn’t a brothel, it’s ride sharing.
Click to expand...
You guys have a one track mind.

BTW: His daughter is way too young for you old geezers. LOL!
 
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Great choice for your retirement. In addition, it’s not so expensive ( minus real estate). Street food is amazing and cheap, taxes are low and girls are hot.
 
Ponderling said:
I plan to stay in place in modest abode in the burbs, and mostly enjoy the free time.
Click to expand...
My situation is a bit different. Canada is still a great country but I see issues here and in
the U.S. that are concerning.

My old university roommate and I survived 3 years living in the same apartment (The Odd Couple) and we still keep in touch. Plus, his daughter is now attending the UofT and staying with us. That is one reason why it is a 5 year plan.
 
Olololo said:
Great choice for your retirement. In addition, it’s not so expensive ( minus real estate). Street food is amazing and cheap, taxes are low and girls are hot.
Click to expand...
We're not overly concerned about real estate. My old McGill roommate and his wife said we can stay at his house (mansion?) for as long as we want. His kids are pretty much all on their own and raising their own families. Even his youngest is currently here attending the UofT. So, their house is currently pretty empty.
 
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To be perfectly honest, there really aren't that many places in the world that appeal to us.

Latin and South America, no. Although we know some folks who retired to Belize and Mexico.

Continental Europe, Eastern Europe, Russia, no. One possible exception is Ireland.

Africa, Middle East, no.

So, that pretty much leaves some but not all countries in Asia, Australia and New Zealand.

BTW: "In December 2007, Rogers sold his mansion in New York City for about $16 million and moved to Singapore. Rogers said he moved because now is a groundbreaking time for investment potential in Asian markets. His daughters speak fluent Mandarin to prepare them for the future. He said, "If you were smart in 1807, you moved to London, if you were smart in 1907, you moved to New York City, and if you are smart in 2007, you move to Asia.""
Jim Rogers - Wikipedia
 
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