Like Tree167Likes

4% retirement rule - valid in HK

Reply
Page 3 of 19 FirstFirst 1 2 3 4 5 6 11 ... LastLast
  1. #21

    Join Date
    Mar 2010
    Posts
    6,745
    Quote Originally Posted by huja:
    You think it will it happen in stages?
    HKG dollar unpegged to the US dollar . . . repegged to the RMB . . . and then eventually replaced by the RMB?

    Or one swift move?
    If we talk about the next 20 to 30 years, so to say around the year 2047, I don't think the RMB
    will still be in place by then. Other names will change as well.....
    shri likes this.

  2. #22

    Join Date
    Feb 2006
    Location
    Kennedy Town
    Posts
    1,014
    Quote Originally Posted by shri:
    I personally am of the mind set - FINR - Never Retire.

    Active income production does not mean you have to show up at a 9-5 "job" or run a company - it can include active investments either in listed or private companies.
    If you're driven by a pure safety mindset you may end always prioritizing yet more safety over enjoyment of life. You may end up trading happiness for 'safety' which may end up being an illusion. If you think about the risk of regretting decision you made in your life then the 'safe' path could actually be very risky.

    Of course everyone's situation and life experience is unique so priorities will vary.
    Last edited by cendrillon; 02-11-2018 at 05:39 PM.
    shri and MrSapSap like this.

  3. #23

    Join Date
    Dec 2002
    Location
    θ–„ζ‰Άζž—
    Posts
    47,968
    Quote Originally Posted by cendrillon:
    If the goal is to minimize risk wouldn't it be better to work 9-5 (or 7-10) as long as possible? That's probably safer than relying on active investments, and pthosbou keeps you more employable. How do you determine when you're safe enough?
    Good point... but having been through mergers, layoffs, boom-bust cycles due to someone elses sheer stupidity - I think its safer to let my stupidity be responsible for the outcome.

    How do you determine when you're safe enough?
    Safe and happy .. might be two different outcomes one looks for. Not just one?
    huja likes this.

  4. #24

    Join Date
    Feb 2006
    Location
    Kennedy Town
    Posts
    1,014
    Quote Originally Posted by shri:
    Safe and happy .. might be two different outcomes one looks for. Not just one?
    This is my concern, in the endless chase of 'safety' people may ultimately have regrets over the life they didn't live or the path they didn't travel. As you alluded to though there's a middle path certainly, continuing to generate income but more on your own terms as you gain more financial flexibility, which I think is a great approach.
    jrkob and shri like this.

  5. #25

    Join Date
    Feb 2006
    Location
    Kennedy Town
    Posts
    1,014
    Original Post Deleted
    As I think about this more I think it's something people don't discuss or explore enough. What does the transition between working 9-5 (or 7-10) for a paycheck, and being fully retired look like. What are the options for people who are financial stable, still fairly young and want to keep working in some capacity, but want more freedom in the conditions they work under, whether it's the type of work they do, the hours, location and so on.

    It's something rarely discussed in the financial world which tends to have a very binary definition of retirement.
    shri likes this.

  6. #26

    Join Date
    May 2006
    Location
    Pampanga, Philippines
    Posts
    29,768
    Quote Originally Posted by cendrillon:
    As I think about this more I think it's something people don't discuss or explore enough. What does the transition between working 9-5 (or 7-10) for a paycheck, and being fully retired look like. What are the options for people who are financial stable, still fairly young and want to keep working in some capacity, but want more freedom in the conditions they work under, whether it's the type of work they do, the hours, location and so on.

    It's something rarely discussed in the financial world which tends to have a very binary definition of retirement.
    It is difficult to discuss because it is different for everyone. I notice that those who CHOSE early retirement seem happier than those who retired because of their age. Small sample I admit.

  7. #27

    Join Date
    Feb 2006
    Location
    Kennedy Town
    Posts
    1,014

    This video is quite interesting on the topic of unjobbing:

    https://youtu.be/Zz-dxV8VfPE


  8. #28

    Join Date
    May 2006
    Location
    Pampanga, Philippines
    Posts
    29,768
    Quote Originally Posted by huja:
    I'm not sure how it works in HKG or elsewhere, but in the U.S. you can fill out paperwork that transfers your assets to your spouse (or child) on your passing - commonly called a TOD (transfer on death) at your financial institution. This is automatic and avoids probate and other hassles.

    And yes, always better to be worth more alive than dead.

    Worth checking though. My pension 'automatically' transfers to my wife but she has to tell them I am dead by completing a form. Access to that form is online for which she needs my password. She also wouldn't know the website address. On the form there are identity checks such as my National Insurance number which she won't have easily available. It is worth just checking what is required to make it easier.

  9. #29

    Join Date
    Jun 2010
    Location
    Tri-State
    Posts
    11,647
    Quote Originally Posted by huja:
    The difference is just about anyone in the U.S. can pack their car with their possessions and drive to Las Vegas for a new life. In the Asia scenario you must already have means and some sort of regional (if not global) sophistication moving from country to country.
    https://la.curbed.com/2018/11/2/1805...e-to-move-away

  10. #30

    Join Date
    Jun 2011
    Posts
    1,693

    If you fully own an apartment in Hong Kong which you are happy with, for the rest of your expenses the 4% rule should be plenty living in Hong Kong. If you are renting, anything can happen long term..

    shri and z754103 like this.

Reply
Page 3 of 19 FirstFirst 1 2 3 4 5 6 11 ... LastLast