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.
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.
Safe and happy .. might be two different outcomes one looks for. Not just one?How do you determine when you're safe enough?
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.
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.Original Post Deleted
It's something rarely discussed in the financial world which tends to have a very binary definition of retirement.
This video is quite interesting on the topic of unjobbing:
https://youtu.be/Zz-dxV8VfPE
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.
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..