Retirement Planning
- Thread starter Darts
- Start date
Why would you pay taxes in a foreign country if you don't earn a living there? Don't you have to become a citizen? Aren't they happy to have you spending money in their country? Wouldn't you keep all or most of your money in Canada?
I leave the tax stuff to the tax lawyers and tax accountants.I think I will pay taxes on income I earn in Singapore. However, any income I earn from my Canadian investments will be exempt from Singaporean tax but will be subject to a Canadian withholding tax. Also, I think I will be subject to a Canadian "departure" tax.
Anyway, I have 5 years to sort all this stuff out.
Are many of you planning retirement?
It's like 25% of the working population of canada that could retire in the next 3-4 years.
I cannot fully retire. I will go crazy. I will eventually probably go cut some grass at he golf club or something like that. One thing for sure is that I will find something with zero stress and zero computer! I will retire à la Forest Gump.
It's like 25% of the working population of canada that could retire in the next 3-4 years.
I cannot fully retire. I will go crazy. I will eventually probably go cut some grass at he golf club or something like that. One thing for sure is that I will find something with zero stress and zero computer! I will retire à la Forest Gump.
Why nowhere in Europe yet Ireland? Seems to me countries with Mediterranean weather and coastlines are very enticing.
I've also had friends retire to Panama and just love it. Modern capital city, very low overhead, time zone friendly and lots of gorgeous women.
I agree with Panama!
2 close friends are currently on their way to retire in Portugal. I must admit it's now very high on my list. Cost of living is amazing. And as my friend said to me it seems like Portugal was a poor country for so long that the population polished it to perfection
Retirement is great.
Covid shutdowns kind of messed things up because so many things were closed, travel restrictions etc. Kind of limited the things you could do. Just keep yourself busy. I play golf with guys I used to work with. Do some woodworking, go to gym 4 days a week and finally going on my long overdue retirement trip in Oct.
Best part, no alarm clock!
I retired mid 2020. Although I keep a close eye on my finances and investments, I asked my money guy what's my money situation if I retire now vs another year or so. He made me laugh when he said you're in a very good place and won't have any worries, except your piggy bank won't be quiet as full.
Great having my time to myself. Covid restrictions at that time made going places a bit difficult but I'm just enjoying doing what I want, whenever I want to do anything.
LTO_3
Great having my time to myself. Covid restrictions at that time made going places a bit difficult but I'm just enjoying doing what I want, whenever I want to do anything.
LTO_3
Darts,
i assume you've already considered this but if not, don't forget to figure in costs for medical, dental and prescription coverage. Something that many people I know have forgotten when they retire.
Will you be living full time in Singapore when retired or doing what snowbirds do, live half the time in Singapore and back in Canada the rest of the year.
LTO_3
Enjoy your life now while you can...I will put away something to just live a nice quiet comfy life...I don't even want to travel much as seeing my mom do such things was exhausting....I just want to go on my boat and fish all over Canada for some bass and walleye...will enjoy fly fishing with my friends...most of my gears are for the long haul so no need to spend anymore on fishing gears.i'm 42 and on my 3rd term on mortgage so by the time i'm 55...the house will be paid off and kids will be done with school...
Good luck on the move to Singapore Darts. I wish I moved there when I had a contract offer back in 2002 when I worked in the banking/tech sector.
I'm 45 and could retire next year but you never know what the future holds so I will probably work another 3 or 4 years then a few years part time just to pad out the pension and stash of cash/stocks a bit more. Am considering moving abroad too for retirement. Either that or just staying in Canada and staying somewhere warmer in the winters.
I'm 45 and could retire next year but you never know what the future holds so I will probably work another 3 or 4 years then a few years part time just to pad out the pension and stash of cash/stocks a bit more. Am considering moving abroad too for retirement. Either that or just staying in Canada and staying somewhere warmer in the winters.
I have some big dreams for retirement. I think I’m 7/8 years old for my mainstream
Business and 3/4 years touring during the summer season like I have been doing.
I want some new things like trailer and boat to replace the ones I have. I want property south for winters. So just saving and banking as much as I can to see just how much and how far I can go.
Business and 3/4 years touring during the summer season like I have been doing.
I want some new things like trailer and boat to replace the ones I have. I want property south for winters. So just saving and banking as much as I can to see just how much and how far I can go.
Are you of asian heritage Darts or would you be viewed as a foreigner living in Singapore which could make a difference in integrating into Singapore's culture and society?
Canning is no longer accepted as punishment in Singapore.
