tag:blogger.com,1999:blog-2875915890415125655.post7974764584314699886..comments2023-05-18T10:37:34.608+01:00Comments on <a href="http://www.retirementinvestingtoday.com">Retirement Investing Today</a>: I’m now ready to FIRERetirementInvestingTodayhttp://www.blogger.com/profile/03088383743670046657noreply@blogger.comBlogger30125tag:blogger.com,1999:blog-2875915890415125655.post-56921467388599099622017-03-07T08:19:39.443+00:002017-03-07T08:19:39.443+00:00Have a look at Rhodes (Greece) as well. It's a...Have a look at Rhodes (Greece) as well. It's a beautiful island west of Cyprus, 100-120k population. <br />The airport has good connections to support the tourists in the summer. This is where I'm from and looks like a good place to fire... Personal bias? :)Michael from FoxyMonkeyhttps://foxymonkey.com/noreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-2734812697192213742017-01-28T10:33:51.240+00:002017-01-28T10:33:51.240+00:00I achieved 2, well before I achieved 1. Still find...I achieved 2, well before I achieved 1. Still find it difficult to hear people need to 'work' to create meaning and purpose to what is a very short time on this planet. <br />So many mountains, rivers, countries, challenges. Happy to have a little job as and when but my purpose will not be paid employment. <br />Guess I am lucky because my 'no working' is a physically active DIY&#Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-48430892458129148222017-01-24T01:51:31.488+00:002017-01-24T01:51:31.488+00:00'Since calling financial independence I’ve con...'Since calling financial independence I’ve continued to grow my wealth and if I’m honest it’s now starting to feel a bit like I’m keeping score at best and it’s my precious at worst.' <br /><br />It seems you have reached escape velocity and have managed to catapult yourself into the space of freedom. I am working on the mental side as well but more on being comfortable coping with being FIREplanterhttps://fireplant.net/noreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-79483537068914311882017-01-21T19:44:41.862+00:002017-01-21T19:44:41.862+00:00Great post RIT, I also really liked your one in a ...Great post RIT, I also really liked your one in a similar vein on The Lemon Fool forum, very thought provoking. I'm still 'digging the tunnel' as we say at work and finding a lot of inspiration from you guys in the FIRE community.Walter Neffnoreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-54675725189937903712017-01-21T17:32:10.700+00:002017-01-21T17:32:10.700+00:00Hi, we have a house 20 minutes from Gibraltar and ...Hi, we have a house 20 minutes from Gibraltar and 20 minutes to Estepona, the advantage of this part of the Costa del Sol is that it is cooler than Malaga/Marbella in the summer, there are quite a few English for social life while learning Spanish, and if you did decide to work a bit you may find opportunities in Gibraltar. My advice would be to rent for a year first. The other option is PortugalBellabeckhttps://www.blogger.com/profile/08539372625969801663noreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-81170493808120754612017-01-21T16:37:03.644+00:002017-01-21T16:37:03.644+00:00Hi Congratulations. I spent about three years calm...Hi Congratulations. I spent about three years calming down after my retirement, including a period when I did a few months full-time work. Madness. Now fully relaxed. My dear wife had a place in western Spain when I married her, which is where I spend less than 183 days per year (especially in the winter)in order to avoid Wealth tax. Have you looked at the Non-Habitual Tax Visa in Portugal. 10 Dadapplicationhttps://www.blogger.com/profile/10920648251658377544noreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-62949800010974724312017-01-21T12:32:53.918+00:002017-01-21T12:32:53.918+00:00Congratulations RIT. The focus is almost always on...Congratulations RIT. The focus is almost always on money when it comes to retiring but it's very much a mental thing too. Look forward to how things progress into the summer!weeniehttps://www.blogger.com/profile/01602950445306813601noreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-35117808064216499442017-01-17T09:36:23.066+00:002017-01-17T09:36:23.066+00:00The sequence of returns issue is one reason I'...The sequence of returns issue is one reason I'm planning to only drawdown on dividends from my ETF and investment trust portfolio, together with maintaining a 12-24 month cash buffer.<br /><br />And on the binary FIRE decision I see temporary contracts as an alternative to fully retiring (much later) in binary fashion or the other alternative of part time paid work. Say from 3 to 6 months (Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-23106464943450596282017-01-16T16:44:53.732+00:002017-01-16T16:44:53.732+00:00@RIT Even after your house purchase you should sti...@RIT Even after your house purchase you should still have best part of a million so fingers cross it'll keep increasing despite finishing with your job. I know exactly what you mean with the comments part...<br /><br />Really happy for you but hope this doesn't mean you'll stop blogging! Maybe you could so what Jim from SHMD does and tell us about your experiences after FIRE?Roryhttp://www.ukdoctoronfire.comnoreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-61984540262041255152017-01-16T14:51:58.241+00:002017-01-16T14:51:58.241+00:00So herefords off! back to cyprus or spain, what ha...So herefords off! back to cyprus or spain, what happened to malta?<br /><br />man this is entertaining!<br /><br />i can't wait til the funny work stories start to trickle in..<br /><br />please don't leave the cubicle without having a few quality bust-ups to report back to your readership..The Rhinohttp://www.thenewrhino.comnoreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-21480631238232103212017-01-16T10:19:38.658+00:002017-01-16T10:19:38.658+00:00I have a few plans for things I intend doing when ...I have a few plans for things I intend doing when I FIRE. These are non-work, leisure, activities and although they could take up a lot of my time I don't know if that will hold through all seasons, or for year after year, so after a while I'll probably need to consider other activities. I also wouldn't rule out undertaking paid employment at some point in the future, although I thinkScottnoreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-50902322884596718202017-01-15T22:30:56.442+00:002017-01-15T22:30:56.442+00:00Congratulations, I FIREd before being mentally rea...Congratulations, I FIREd before being mentally ready, and was a lost soul for months. Now back in work doing a 3 month contract, and suffering the same way as you with bosses comments. The whole experience has been a massive learning curve.<br />3 weeks to go and 2nd time I know I need to put some structure and goals in my life <br />to give me focus, similarly to you getting Fitter and learning Prematurely FIREdhttps://www.blogger.com/profile/03447542653257000870noreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-167309650503582232017-01-15T20:17:37.831+00:002017-01-15T20:17:37.831+00:00Congratulations to our RIT author. To our other re...Congratulations to our RIT author. To our other readers, if you're financially independent then one sign of being mentally/emotionally ready is that you're bored with work. One thing though: work is a big part of our lives. What will you replace it with? Retirement is NOT one long holiday, you might like to think of charity work, your children or rebuilding a manor house for long term Nigelhttps://www.blogger.com/profile/02433346586478629055noreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-82177324151199600722017-01-15T14:53:33.631+00:002017-01-15T14:53:33.631+00:00All my back testing research tells me that providi...All my back testing research tells me that providing the future is no worse than the worst historical sequence of returns I will have a '100% success rate'. Of course history is not a predictor of the future but given my crystal ball is broken it's all I have.<br /><br />That said I also think that it is foolish to make any decision without the latest information to hand which means RetirementInvestingTodayhttps://www.blogger.com/profile/03088383743670046657noreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-10632311888919419232017-01-15T14:01:23.629+00:002017-01-15T14:01:23.629+00:00Interesting that you think you'll make decisio...Interesting that you think you'll make decisions based on the market not throwing a curve ball in the next 6 months. What happens if the market crashes in 1 or 2 years etc. Don't you have to have a confidence that your savings are not riding a short term peak? If you draw an averaging line in your stash growth you'd be crossing your accumulated wealth milestone amount in 1-2 years Sparkshttps://www.blogger.com/profile/17330300119304153977noreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-66994883075902092742017-01-15T11:17:32.954+00:002017-01-15T11:17:32.954+00:00Congratulations, here still 6 years to go...Congratulations, here still 6 years to go...Dalamarhttps://www.blogger.com/profile/14262037701162440486noreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-31495424405801101562017-01-15T09:09:30.975+00:002017-01-15T09:09:30.975+00:00Thanks for that. With annual bonus, holidy pay, et...Thanks for that. With annual bonus, holidy pay, etc. I should actually be over that threshold so looks like I've got the year covered without any additional cost. I will check my record though to make sure.<br />The financial boost from the redundancy has accelerated my plans - I'd have been looking at another 12-18 months otherwise.Scottnoreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-16967732390099764202017-01-15T08:57:21.300+00:002017-01-15T08:57:21.300+00:00Hi RIT,
Congratulations! As you say I think the m...Hi RIT,<br /><br />Congratulations! As you say I think the mental side is far tougher to achieve - giving up the common conception that a job is required, and filling your time with something other than performance reviews etc. requires people to actually think a little :)<br /><br />Completely sensible to wait for the next bonus - why wouldn't you!<br />Cheers,<br />FiLFIREin' Londonhttp://www.fireinlondon.co.uknoreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-5929727780978080072017-01-14T17:48:34.950+00:002017-01-14T17:48:34.950+00:00I'm very tempted by Cyprus. Given the current ...I'm very tempted by Cyprus. Given the current unification negotiations and Brexit, I'm sitting on the sidelines. But if the Greeks and Turks find a solution, I think Cyprus could have a good future ahead of it, in part due to its offshore energy resources but also its location and the unused land and underdeveloped North.Mark Bishophttps://www.blogger.com/profile/06446924775948855423noreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-57383780860048325002017-01-14T16:01:20.102+00:002017-01-14T16:01:20.102+00:00I believe if you're in a single (an important ...I believe if you're in a single (an important point) job (so Class 1 NI is relevant) then you'd need to have earned £5,824 in the current tax year, which is the LEL (Lower Earnings Limit), to qualify. This is what I'm using as a basis for that statement https://pensionslatest.blog.gov.uk/2015/10/13/how-national-insurance-builds-up-state-pension/ That said I'll be certainly RetirementInvestingTodayhttps://www.blogger.com/profile/03088383743670046657noreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-82024185776769252382017-01-14T15:36:39.779+00:002017-01-14T15:36:39.779+00:00After tax I think both Spain and Cyprus will carry...After tax I think both Spain and Cyprus will carry similar total costs. Spain (Marbella is expensive for Spain) will also mean a smaller home for similar house budget. So as a % of wealth we'll end up drawing less in Cyprus reducing sequence of returns risk but I already think I might be OTT for both options.<br /><br />More to this lark than money though. Spain for example would give us RetirementInvestingTodayhttps://www.blogger.com/profile/03088383743670046657noreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-23271520782025662212017-01-14T15:26:49.089+00:002017-01-14T15:26:49.089+00:00I'm also about to FIRE and, whilst it's so...I'm also about to FIRE and, whilst it's something I've been working toward for a few years, the final push on both (1) and (2) have been made for me due to redundancy (which was not unexpected.) It certainly removes the possibility of one-more-year syndrome! One question on a point mentioned above regarding NI contributions - anyone know offhand how much you need to pay in a year get Scottnoreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-76265318180949192162017-01-14T15:19:55.246+00:002017-01-14T15:19:55.246+00:00Yes, the Spanish tax take is around what I have re...Yes, the Spanish tax take is around what I have read. I guess similar to here in France but not income tax but all social charges. Does it give Cyprus the edge or not enough to worry about, guess house prices and property taxes are all in the mix as well! Good Luck, Tim Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-64492397367821551012017-01-14T13:59:34.771+00:002017-01-14T13:59:34.771+00:00Hi Willy
Thanks for highlighting. I should have ...Hi Willy<br /><br />Thanks for highlighting. I should have mentioned the new/partial tax year which will help me maximise savings (tax refund) while also giving another year of NI contributions (I'll pay voluntary NI when I FIRE as an insurance policy). That's certainly been in my planning.<br /><br />In my planning I didn't really plan around part time in my current career. I RetirementInvestingTodayhttps://www.blogger.com/profile/03088383743670046657noreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-29297463663588162862017-01-14T13:53:23.283+00:002017-01-14T13:53:23.283+00:00Hi Tim
In Spain I believe:
- I'll crudely los...Hi Tim<br /><br />In Spain I believe:<br />- I'll crudely lose circa 20% in tax.<br />- I should be ok from a wealth tax perspective as pensions and your home are outside scope against a EUR700k limit.<br />- Social costs wise I'll take private healthcare initially but if we convert to the Convenio Especiale idc I'll be looking at EUR60 per month per person (<65 years of age).<br /RetirementInvestingTodayhttps://www.blogger.com/profile/03088383743670046657noreply@blogger.com