I want to retire in the next 2 years.... considering options.

[Brampton_Boy]

For some context, I am about to turn 40, but I find myself at a crossroads in my career.

I'm a university professor, and it is nothing like I thought it would be. The administrative burden, the beaurocracy, the complete forfeiting of any sort of authority to appease entitled students has sucked all the joy out of the job.

Even my research is heavily guided by funding interests, so I spend my waking hours chasing grant projects. In short, I feel burned out.

I recently had several friends move to live in South east Asia and they have said nothing but good things.

I *think* I would be financially okay - I make $2000 in passive income monthly in dividends, and could rent my existing property for around $5k (Full sized 3200sq 5 bedroom home)

I have no children, no significant other, and in theory, could have $7000k CAD per month to spend on living expense.

If I don't like it, I could always come back home and live in my house.

The aforementioned plan seems deceptively simple. I'm sure there are other costs/factors that I am not thinking about .

What places may seem like a fun place to begin planning a potential Early retirement. Could be anywhere in the world that is friendly to expats and is perpetually warm weather.

 

[EndlessCritic]

The Ontario LTB system is broken. Once someone becomes your tenant, it will take you more than a year to evict them for non-payment of rent.

 

[mozfonky]

For some context, I am about to turn 40, but I find myself at a crossroads in my career.

I'm a university professor, and it is nothing like I thought it would be. The administrative burden, the beaurocracy, the complete forfeiting of any sort of authority to appease entitled students has sucked all the joy out of the job.

Even my research is heavily guided by funding interests, so I spend my waking hours chasing grant projects. In short, I feel burned out.

I recently had several friends move to live in South east Asia and they have said nothing but good things.

I *think* I would be financially okay - I make $2000 in passive income monthly in dividends, and could rent my existing property for around $5k (Full sized 3200sq 5 bedroom home)

I have no children, no significant other, and in theory, could have $7000k CAD per month to spend on living expense.

If I don't like it, I could always come back home and live in my house.

The aforementioned plan seems deceptively simple. I'm sure there are other costs/factors that I am not thinking about .

What places may seem like a fun place to begin planning a potential Early retirement. Could be anywhere in the world that is friendly to expats and is perpetually warm weather.

Don't know, the world's a big place. Academia is bullshit, I'm glad I found that out before I went further than a bachelor's. I had a Black studies professor who tried to steer me into teaching, fuck that shit. he was way more burned out than you are most likely. He was in his late 60's and miserable. Where do you teach?

Anyway, could be worse, I'm burned out on life period and I have no place on earth to go. I could go to Alaska, my ancestral homeland but there is no way to make money, the natives are impoverished and wrong headed and I don't really know how to live off the land.

 

[gatchaman]

People think that they can scale back as they get older, but they do not realize how expensive the health impacts of old age are. They also do not realize how little socialized medicine cares for non-workers.

If you retire, it will be difficult to start over again because of the gap time in your resume.

 

[StonedLemur]

For some context, I am about to turn 40, but I find myself at a crossroads in my career.

I'm a university professor, and it is nothing like I thought it would be. The administrative burden, the beaurocracy, the complete forfeiting of any sort of authority to appease entitled students has sucked all the joy out of the job.

Even my research is heavily guided by funding interests, so I spend my waking hours chasing grant projects. In short, I feel burned out.

I recently had several friends move to live in South east Asia and they have said nothing but good things.

I *think* I would be financially okay - I make $2000 in passive income monthly in dividends, and could rent my existing property for around $5k (Full sized 3200sq 5 bedroom home)

I have no children, no significant other, and in theory, could have $7000k CAD per month to spend on living expense.

If I don't like it, I could always come back home and live in my house.

The aforementioned plan seems deceptively simple. I'm sure there are other costs/factors that I am not thinking about .

What places may seem like a fun place to begin planning a potential Early retirement. Could be anywhere in the world that is friendly to expats and is perpetually warm weather.

A friend of mine lived in Vietnam for a few years and loved it.
That was 25 years ago or so and they were rich like you are lol...but they lived good and liked the culture.

 

[StonedLemur]

A friend of mine lived in Vietnam for a few years and loved it.
That was 25 years ago or so and they were rich like you are lol...but they lived good and liked the culture.

Weren't rich*

 

[NoSmilez]

Waiting for the eventual cheating joke.

Seriously though good luck though. You should be fine if you rent out your home in TO and live in Asia. It's going to be boring though. You might need to find something to entertain yourself. You can be a decent human without being a passport bro.

 

[mozfonky]

i've heard american retirees moving to mexico or the philippines. A friend had a cop for a dad who retired, needed one of her kidneys and died a few years later, they say cops die on average five years after retirement for some reason.

 

[zapataxiv]

For some context, I am about to turn 40, but I find myself at a crossroads in my career.

I'm a university professor, and it is nothing like I thought it would be. The administrative burden, the beaurocracy, the complete forfeiting of any sort of authority to appease entitled students has sucked all the joy out of the job.

Even my research is heavily guided by funding interests, so I spend my waking hours chasing grant projects. In short, I feel burned out.

I recently had several friends move to live in South east Asia and they have said nothing but good things.

I *think* I would be financially okay - I make $2000 in passive income monthly in dividends, and could rent my existing property for around $5k (Full sized 3200sq 5 bedroom home)

I have no children, no significant other, and in theory, could have $7000k CAD per month to spend on living expense.

If I don't like it, I could always come back home and live in my house.

The aforementioned plan seems deceptively simple. I'm sure there are other costs/factors that I am not thinking about .

What places may seem like a fun place to begin planning a potential Early retirement. Could be anywhere in the world that is friendly to expats and is perpetually warm weather.

Do it brother
you got one life don't waste it for some bs that is not satisfying
the funds you listed you could easily love abroad is se asia.
think about he future though after the magic of traveling and being a new place wears off
what will you do next ?
we need some work or something that keeps our wheels turning.
if it's teaching maybe try teaching English even though you would be extremely over qualified. but you could probably get a curry job with an international school that could pay for a villa with vacation etc.. with you passive income you could still build income and not have to worry about visas

 

[CodeBreaker]

Come here to Manila sherbro. Lots of Americans moved here to stay for good. And you will probably find a Filipina partner pretty easily if you want one lol

 

[fungi]

In the next few years if they, the banksters, do collapse the USD, the world is fucked.

I'm not sure your timeline for retiring is optimal at the moment.

If I were you, I'd buy a cheap piece of land with a livable shack/hut/small house and stack it with non-perishables for years. I'd plant some perennial fruit trees and some veggies. In the middle of nowhere.

Once, that is set, I'd travel.
Living abroad 100% is fun, but for some time.

That 5k rent is there now. Who knows where it'll be in a 2-3-5 years?

 

[BlankaPresident]

With 7000 canadian dollars of monthly passive income you're set anywhere in Latin America or Southeast Asia.

That being said, dealing with tenants and rent issues from far away can be a disgrace. If you're really decided about moving away, consider seling the house and investing the money instead of living off rent.

 

[Streeter]

A buddy of our retired at 45 about 7 years ago. His wife was from Costa Rica and being a fireman he was able to retire after 20 years in. He and his wife live outside Jaco Beach Costa Rica now. They both he said live great just on his pension and haven't even had to really dip I to savings other thsn buying their place.

Not living like a king but he's got a house, power, plumbing, internet - hangs out at beach e ery day surfi g and bullshitting without a worry. They got enough to fly back to states a few times a year to see family.

 

[Kowboy On Sherdog]

350,000 Baht Bonus or $10K and you can live like a king in Thailand

 

[SammyPops]

For some context, I am about to turn 40, but I find myself at a crossroads in my career.

I'm a university professor, and it is nothing like I thought it would be. The administrative burden, the beaurocracy, the complete forfeiting of any sort of authority to appease entitled students has sucked all the joy out of the job.

Even my research is heavily guided by funding interests, so I spend my waking hours chasing grant projects. In short, I feel burned out.

I recently had several friends move to live in South east Asia and they have said nothing but good things.

I *think* I would be financially okay - I make $2000 in passive income monthly in dividends, and could rent my existing property for around $5k (Full sized 3200sq 5 bedroom home)

I have no children, no significant other, and in theory, could have $7000k CAD per month to spend on living expense.

If I don't like it, I could always come back home and live in my house.

The aforementioned plan seems deceptively simple. I'm sure there are other costs/factors that I am not thinking about .

What places may seem like a fun place to begin planning a potential Early retirement. Could be anywhere in the world that is friendly to expats and is perpetually warm weather.

I am 50 and wife adn I are thinking of retiring at 55. We have looked at hailand, Philippines, and Columbia. Looked at southern US too.

I've read its really important to have a hobby so you do not get all bored adn develope bad habits, like drinking all day.

Who would look after your property, collect the rents? Being a larndlord is not easy

If you use all the cashflow from your investments, then you will only rely on unrealized gains which will slow the growth over time. You could start losing value compared to inflation.

Also need to budget returning to Canada to maintain 'free' HC.

 

[Oblivian]

I certainly would not look at it as $5k in income per month from the rental. You'll have overhead and need to account for vacancy periods as well.

Also, what the hell do you plan to do with the rest of your life? That's the real question.

 

[Brampton_Boy]

I am 50 and wife adn I are thinking of retiring at 55. We have looked at hailand, Philippines, and Columbia. Looked at southern US too.

I've read its really important to have a hobby so you do not get all bored adn develope bad habits, like drinking all day.

Who would look after your property, collect the rents? Being a larndlord is not easy

If you use all the cashflow from your investments, then you will only rely on unrealized gains which will slow the growth over time. You could start losing value compared to inflation.

Also need to budget returning to Canada to maintain 'free' HC.

My goal would be to continue to reinvest whatever savings I am able to have. I'm assuming that my month to month costs would be far less than $7000, so that was the idea - continue dumping into dividend baring ETFs and bonds like I'm doing now.

The plan would be to get a property management firm to look after the house. The concerns about being a long distance landlord overseas are valid - I used to manage three of my dad's properties after he passed, and I eventually just sold the houses because they are too much headache.

I certainly would not look at it as $5k in income per month from the rental. You'll have overhead and need to account for vacancy periods as well.

Also, what the hell do you plan to do with the rest of your life? That's the real question.

That's a very good point about the rental. The market I live in (close to Toronto Ontario) has a severe rental shortage, so I'm not overly concerned about vacancy. However, I am very concerned about people not paying their rent.... or destroying the house. I live in an upper middle class neighborhood, but so many of the houses have been converted into the equivalent of rooming houses (renting the basement and individual rooms to international students). The landlords make bank, but they see their property get trashed in the process.

As to what I want to do with the rest of my life, I don't know. I have forgotten what it was like to have hobbies - I used to love doing so many things, but with age and the stress from work, I lost interest in them. The only thing I continue to keep up with is weight lifting.

Maybe I should visit these places to see what they are really like, but for now it's nice to day dream (although I am dead serious about quitting my current job)

 

[SammyPops]

My goal would be to continue to reinvest whatever savings I am able to have. I'm assuming that my month to month costs would be far less than $7000, so that was the idea - continue dumping into dividend baring ETFs and bonds like I'm doing now.

The plan would be to get a property management firm to look after the house. The concerns about being a long distance landlord overseas are valid - I used to manage three of my dad's properties after he passed, and I eventually just sold the houses because they are too much headache.



That's a very good point about the rental. The market I live in (close to Toronto Ontario) has a severe rental shortage, so I'm not overly concerned about vacancy. However, I am very concerned about people not paying their rent.... or destroying the house. I live in an upper middle class neighborhood, but so many of the houses have been converted into the equivalent of rooming houses (renting the basement and individual rooms to international students). The landlords make bank, but they see their property get trashed in the process.

As to what I want to do with the rest of my life, I don't know. I have forgotten what it was like to have hobbies - I used to love doing so many things, but with age and the stress from work, I lost interest in them. The only thing I continue to keep up with is weight lifting.

Maybe I should visit these places to see what they are really like, but for now it's nice to day dream (although I am dead serious about quitting my current job)

One other tip I've seen is to get a housekeeper. Not only will she cook and clean for you, but she will get the local price for everything from food to utilities. She will hook you up with all that stuff and pay the bills.

 

[Sirwastealot]

That's a big decision, of course its not set in stone either you can always reverse it, to an extent.

I would suggest taking a long break and traveling. You can afford to travel for a few months, stay in one country for a longer duration and see what it's like.

Maybe you'll decide its better to stay where you are and travel more often. That was you can also find some other work that's less stressful.

 

[chardog]

IMO, I would start renting that place out NOW, regardless of retiring, maybe rent out individual rooms while you live there, just to get a money momentum going.

this is fast progression without going in balls deep with no way out. I think you will feel more confident about retiring once you get the actual cash flow and feel it out.