Go-Go Years Retirement Strategy

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backofbeyond
Posts: 430
Joined: Tue Apr 01, 2008 1:07 pm

Re: Go-Go Years Retirement Strategy

Post by backofbeyond »

I've done alot of thinking and planning on this subject so really enjoyed reading this string.

Somewhat similar situation here with one major exception. I don't own a home and plan on traveling the world upon retiring (currently set for 4/2023). As such, I plan to sometime living high on the hog visiting European Capitals and sometimes living in low cost countries like the PI, Thailand or Argentina.

The problem I've had is trying to figure out how much to budget per year. As the cost of living is so variable based on where are and what you do that it was mind boggling. So instead I've decided to approach it top down....figure out how much I can afford each year and then live accordantly.

Specifically, I have set up an income string that will replace my current income from age 70 on plus holding my Roth IRA as a slush fund. So my retirement strategy is to take 1/10th of my TSP Traditional out each year as my annual budget (plus my FERS/retirement income). Some months I'll splurge, but when I get down near the bottom of the barrel I'll duck into a low cost area/country and hang out until I can replenish my retirement fund.

I will have health care (BC/BS) that covers worldwide and when needed will come back to the States and use Medicare. Now when I slide into the slow go years, I will find a place that I like that I can afford and hang out there and go on vacations. Finally in the no go years, I may go to Thailand or the PI and live in an Ex Pat facility that has grade A healthcare. I know because I've actually had minor surgery in Thailand and the PI and it was light years of anything I've seen in America.
The question isn't at what age I want to retire, it is at what income. - George Foreman
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nigel_ht
Posts: 4378
Joined: Tue Jan 01, 2019 10:14 am

Re: Go-Go Years Retirement Strategy

Post by nigel_ht »

backofbeyond wrote: Fri Aug 05, 2022 8:56 am I've done alot of thinking and planning on this subject so really enjoyed reading this string.

Somewhat similar situation here with one major exception. I don't own a home and plan on traveling the world upon retiring (currently set for 4/2023). As such, I plan to sometime living high on the hog visiting European Capitals and sometimes living in low cost countries like the PI, Thailand or Argentina.

The problem I've had is trying to figure out how much to budget per year. As the cost of living is so variable based on where are and what you do that it was mind boggling. So instead I've decided to approach it top down....figure out how much I can afford each year and then live accordantly.

Specifically, I have set up an income string that will replace my current income from age 70 on plus holding my Roth IRA as a slush fund. So my retirement strategy is to take 1/10th of my TSP Traditional out each year as my annual budget (plus my FERS/retirement income). Some months I'll splurge, but when I get down near the bottom of the barrel I'll duck into a low cost area/country and hang out until I can replenish my retirement fund.

I will have health care (BC/BS) that covers worldwide and when needed will come back to the States and use Medicare. Now when I slide into the slow go years, I will find a place that I like that I can afford and hang out there and go on vacations. Finally in the no go years, I may go to Thailand or the PI and live in an Ex Pat facility that has grade A healthcare. I know because I've actually had minor surgery in Thailand and the PI and it was light years of anything I've seen in America.
Prior to 2020 the plan was to geoarbritage early retirement.

Given the last few years I dunno that I would do PI even though I still have a few distant relatives there.

My 1st choice of Georges Town Penang eliminated itself when the MM2H program was gutted.

My 2nd choice of Taiwan, because my wife speaks Chinese is...ah...a lot less desirable today than before. :).

Post Covid the plan is to home base in a tax friendly state and do 3-6 month trips overseas and do visa runs as needed. Maybe buy a rental unit and block out the months we'll be there and rent it for whatever while gone so it's not just an empty house.

Given this is years away and the last 2 years have shown that reality can intrude on plans quite significantly I'm sure the plans will change again but as always, the planning will be useful.

My wife said the Thailand hospital she took her colleague to was like a 5 star hotel...and by some weird luck they were staying at the Conrad that year so there was a good frame of reference...

And FERS...wish I had that. :)
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backofbeyond
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Joined: Tue Apr 01, 2008 1:07 pm

Re: Go-Go Years Retirement Strategy

Post by backofbeyond »

Nigel...I have traveled extensively during COVID and have had no issues (maybe bet the odds) but I won't let it change the course of what you want to do.

Sounds like you have done extensive travels, so you know that if you are willing to live outside the US, you can live very nicely. And as we both know, long term some of those countries have outstanding and very affordable healthcare.

I can't wait to go abroad...especially with the 2024 election coming soon. It will be so nice to escape that fiasco. Every place I go, people think Americans are nuts...no matter who is in charge. :sharebeer
The question isn't at what age I want to retire, it is at what income. - George Foreman
Topic Author
nigel_ht
Posts: 4378
Joined: Tue Jan 01, 2019 10:14 am

Re: Go-Go Years Retirement Strategy

Post by nigel_ht »

backofbeyond wrote: Fri Aug 05, 2022 9:46 am Sounds like you have done extensive travels, so you know that if you are willing to live outside the US, you can live very nicely.
Nah, we've only touristed around...and we both know that visiting somewhere for a week is way different than living there for a year and living there for a year is a lot different than trying to live there in retirement.

A lot of expats go home after a year...just wasn't what they expected.

And boy, I will tell you I am no longer heat acclimated. PI, Taiwan, etc are all freaking hot...and if you just stay indoors all the time for the AC you might as well stay in the states :)

Okay, that's not true...the night markets are better over there...
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