2 Lies About Retirement! Bali Indonesia Travel. Expat living overseas retired
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- Опубликовано: 12 сен 2024
- Aloha! I hope you enjoy the video. New content on travel, early retirement, investing and living a healthy, positive life every week.
I am a full time traveler and an expat from the states. I live low cost and happy overseas. Come along!
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Mahalo!
#expat #travel #retirement
#earlyretirement #minimalism #solotravel
Books by Christopher LaVoie:
Annexation! Historical collection of articles surrounding the annexation of Hawaii.
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Starkeys Boys. US Navy Deep sea diving in the Hawaiian Islands.
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Urban Prepper. Prepping for emergencies in an urban environment.
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Minimalist travel equipment used by Retire and Go:
Burton Annex Backpack
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Iphone 12 pro max
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O'neil Brand Nomadix Cargo Shorts
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DJI Osmo 4 gimble
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Microsoft Surface laptop
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KEEN light hiking shoes
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Swedish Kasa Cup for camping and travel
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Waterproof stick sun block
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Music:
Music: Goa
Musician: ASHUTOSH
Site: ashutoshmusic....
Music: Solo Acoustic 1
Musician: music by audionautix.com
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Music: Solo Acoustic 3
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Music: Sleepless Night
Musician: Bimbotronic
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Music: Swallow
Musician: EnjoyMusic
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A day without your video is like a ‘day without sunshine.’ keep em coming.
You are too kind
Thank you for this :-)
Just found you. Really enjoy your videos. Inspired for sure 😊
Very nice
Welcome!
Been enjoying your videos for a while and really appreciating the extra editing/humor you've been adding lately. I always watched for the great info but really enjoying the extra entertainment factor.
Thank you :-)
I’m always trying to get better and I appreciate this feedback
You're a very smart guy Chris. Enjoy your early retirement now because who know what happens in 4 or 5 years...
True, you are correct
Plan, prepare, enjoy
Just subscribed. We have a crazy amount of similarities in our life paths. Cool videos and i look forward to following along with you.
Absolutely! Have a great day !
Really love your vids…. So inspiring
Thank you :-)
I appreciate this !
Great talk!
Thank you :-)
Have a good weekend
Great and inspiring videos. Also on my way to retire soon using similar thinking and strategies as you. People like you who made it work give me the confidence that i can do too. Ty !
This was so nice to read , thank you
It is my mission to inspire you in the spirit of bodhisattva
:-)
@@RetireandGo Also currently working in the AI-space -> couldn't agree more but also non-desk jobs are at risk due to advances in robotics.... so its either time to adapt or time to get out :) . For me it'll be time to get out !
@@ThomasSchwalb-d9n I’m right with you there :-)
Insightful and accurate. I have to say though as an ex IT person myself, even the physical jobs will disappear at some point. The drive for efficiency (both financial or otherwise) and to put more dollars into certain pockets will be too great.
I agree
The efficiency and lower costs
It will roll in fast
another great video. While I dont particularly want to spend my retirement traveling constantly, I still love to hear your philosophy about retirement, freedom and out of the box thinking, it really gives me alot to think about the inspiration to rejig some things in my life.
This is great to read
I want you to live the best life for you
Well this is very interesting talk for me. Very nice beach by the way. Thanks again for the great video
Thank you , I appreciate you taking some time to watch :-)
@@RetireandGo hope to see you around Kuta
@@baliwalknshops1517 yes for sure
, I’m looking at the Indonesia one year visa for 2026 and beyond
We shall see
I think your overall message of not relying on Social Security -- of personal responsibility -- is smart and crucial, but I also think Congress will, at the 11th hour, get their heads out of their butts and make a fix. It'll probably take a combination compromise of raising the retirement age again and raising the income level to be taxed again, but they'll do it. Think of it from the other side of the equation: How screwed will the US economy be if we suddenly have seniors spending 20% less of their cash? That'll crash the economy as sure as anything. "My appetite is not in a recession." 🤣Great vid, as always!
Good points
I think about both demographics and reduction in spending
Less people
Less GDP
It will be scary, hopefully manageable
@@RetireandGo Also a good point. All signs point to Gen Z delaying or not having kids at a higher rate. Cheers!
Great blog Chris. I had to sit down and give my full attention with your serious "talk" segment at the end. I was afraid you'll pull out the 🎻 case Hehehehe 😢
Haha ! Yes true :-)
The darn music in the cigar shop .. I had to cover it with my background music
RUclips no likey haha
Thanks for the video. Can you do a video about Kuta Lombok. It's a very beautiful place
Thank you for this suggestion
I’ll have to check into this
I’m so glad we’re starting this adventure in a few short months. Looking forward to it. Though the process of selling everything and getting ready is overwhelming at times. Have a great weekend 🤗
We did it a few months ago, best decision we ever made! Good luck and welcome to early retirement 😃
A new chapter ahead for you !
Absolutely! :-)
great vlog have a great day .
You as well :-)
Good points on AI and retirement . And what better place could you be to enjoy retirement than Bali , perfect combination .
It has been quite nice
I am trying to get back to Bali a few times a year
Great vid and spot on
Thank you
Have a great weekend
Good videos as always- Congress will kick the social security issue down the road just before 2033. Raise taxes and extend retirement date.
I think you are right
You’re having too much fun! I’m piss&d! Could do it but tied down. Will have to wait. CHEERS!
The world awaits you ok?
You are doing fine
You are blessed
Any recommendations for good sandals that I can also wear in the sea?.
KEEN has a wide variety of
Check out the link in the description to take a look
I’m all in on KEEN
Hey, I anxiously await your view on the new visa requirements for Bali. Unfortunately, it sounds like I'm out, waited too long. Bummer. Ok, cheers bud!
Is this for the one year visa or the increased fee to get in for 30 days?
Yeah, they are having some issues
I will be back to Bali later this year
@@RetireandGo I'm referring to the new rules that go into effect in October, as what I've seen, I can only go for 60 days. I just decided to retire there! I wanted to go next spring for a trial stay, but, to stay over 6 months you have to have $3k/mo and $50K in the bank. To stay a year I think you need $5k/mo and $500k. It gets deeper after that requiring deep deposits in the Bank of Indonesia. Then retirement, the 'gold visa' requires being over 60, more commitment and investment, references, employing Balinese, etc.. I'm sunk as i"m just short of $3k a month. I don't know of it up for further revision of if this is the final. But, goes into effect in Oct 2024. Maybe your contacts could shed more light on this. I'd appreciate it greatly, thanks.
@@hocusfocus3155 I will be flying into Thailand soon
I’ll check on this and make a post
Thank you !
Hey, I've searched and searched and can't find the article, nor can anyone else, don't know where I read it, I'll keep searching. Thanks for the posts, I hope to move to SE Asia spring 2025.
I'm surprised you like meat pies 😜 I'm from Australia and can't think of anything worse to eat lol. I do love a good sausage roll with ketchup (or tomato sauce as we call it in Australia!).
Haha yes you are not the first to tell me this :-)
good one, there will probably be 3 classes of people, those that are minimalist and have created their own income like yourself, the very wealthy, and then the very poor living completely off of some form of welfare. Probably more of the welfare class than anything else..
Sadly I do see disparity coming as well
Work hard and fast to get ahead of it
Great vid bro! One small correction. Social Security is slated to hit the wall in 2030, and be in a position to pay out 80% of benefits. It’s not going away in a couple of years, but is projected to only have enough money to pay about 80% of income benefits. They are probably going to make some small adjustments to taxes, and possibly the full retirement age to put things back in balance before then. Regardless, your main point is still 100% true. We need to plan and take control of our own destiny. 😊
I appreciate this
Maybe a reduction in payment
Hey, let’s hope we all make it to then :-)
That’s right, in the USA I believe it’ll never go away, they’ll adjust accordingly, higher SS taxes, retirement age moved to 68 and continuing to climb to 70 over the following 10 years, with no early retirement option like in the USA (62), recalculate the SS payout to pay a smaller % and so on. England and other countries are now in the process of restructuring, which by the way is terrible even now. In the meantime hope for a change in government. Take a look at what Milei is doing in Argentina, gotta cut out all the fat and the USA has plenty of it.
Thank you, sir. I am living in America and it doesn’t look good. 😊
I understand
I was stressed in the US
:-)
Have a good day
Totally agree - re: Social Security those of us in Gen X have been raised to expect nothing would be left, but as we get into 50s and the reality hits that retirement age is now at 67 (thanks Boomers!), I think there will be more of a movement to early retirement.
I watched my dad pass away still working hard at 63, he sadly worked away his health as he got older.
Keep preaching and giving us the straight talk! The world needs to hear it!!! 👏👏👏
@@maryswanson2412 thank you for this
I agree and you make great points
I am an NP and I know that my job may be replaced by AI at some point in the future. It is just a matter of time for the insurance companies and policy makers to figuring out the legal implications. However, the good thing is I can always go back and be a bedside RN again. That will never be replaced in my lifetime. Construction workers, electricians, plumbers, bedside nurses will be to jobs that will be handsomely rewarded, while accountants, lawyers, some medical specialties will go away. Think twice before deciding to go to law school and get stuck with six figure student loans.
You might find an AI assists you giving you more one on one with your patient
Thoughts?
@@RetireandGo Yes, I already looked into some softwares that can be used in the background while you speak with the patient and it basically does all the documentation for you . However, it is mostly useful in an outpatient setting and HIPAA compliance is still a big hurdle. However, it is shocking to me how accurate AI is with diagnosing and providing treatment plans, given that you feed it the right information.
I was never planning to rely on social security and as for UBI, I'd never even heard of it. By the way, it was nice to "join" you for some of your leisure activities. I too am invested in the market but this is more of a long term thing and a decent portfolio can't be acquired overnight. I am thinking about what can be done that's reasonably sheltered from AI. I would love for you to throw some specific example ideas our way.
You are doing great
We think alike on these things !
Tell this 35 year retirement planning to the young folks living in their parents' basement with the drgree in sociology....
Haha yes true
I totally get that
I mean, who is going to work in the future
No one wants to
It's already been a year since you went to Bad Wolf with your son? That time flew by
True! I’m working on another trip with him
The kids are so busy
That’s wonderful of course, but it makes us realize that time goes forward, don’t procrastinate
:-)
Have a great week
The whole world will stop working the way it works now. There will be no choice. The way we make things work will be turned on its head, whether we like it or not. Money, work, value, goods, everything, will need to be looked at in a different way.
True
It will be interesting to see how things change
Good day, Sir Chris. Couldn't agree with you more about the false promises of government pension plans. In Canada, we have for now (until the money is no more) CPP and OAC. The max payment from both is $1800.00 cnd. at the age of 65. Try living on that? Great work on your videos - Take care/Be Safe.
True
We have to prepare
And it’s getting more expensive in the west too
Unable to comment on Social Security. However, information for Canadians. Fortunately, after retirement at 65 years, we have CPP (Canada Pension Plan which is a maximum of $1364.60/month) which is projected to be financially sustainable for the next 75 years, OAS (Old Age Security which is a maximum of $713.34/month) based on the number of years in Canada and GIS (Guaranteed Income Supplement) based on a means test which is $1065.47/month if annual income falls below $21,624.
We also have our own private RRSP (Registered Retirement Savings Plan), TFSA (Tax Free Savings Plan) and company pension plan. By good luck and planning, I have reached double of your projected monthly income (by trading in dividend stocks - you have provided us with great names and taking risks for capital gains) for SEA without retirement and without depending on the Canadian goverment. I have a few more years before retirement.
Great info and thank you as I have a sister in the USA who does not look at financials a lot but is busy in the research field.
1300 a month is sweet!
I appreciate this insight
Thank you
Always appreciate your content RTG. Do you prefer dividend stocks to dividend ETFs? Would ETFs be less profitable? Stocks more risky?
Individual stocks for me because they are fun to research and buy.
ETFs are easier though!
They are great
I work in corporate finance for a mid sized public company (5000+ employees) and while we are beginning to explore ways to use AI, I don't see it replacing humans within the near future, at least in my field. I see us using AI to assist and help with the more routine tasks but you still need humans to drive decision making.
This is great to read. New jobs will be created as well hopefully
An easy and safe investment now is a high interest savings account which pays monthly and is compounded monthly. Apple Card (Goldman sachs) pay 4.5% and you can add or withdraw whenever you want and it’s FDIC insured to 250,000, another one is the Wise card, they pay 5% on US currency account and is FDIC insured. If you’re not earning an average of this amount on your dividend payout stocks the card route is a no brainer. Good to have a side portfolio ready to go if and when rates drop.
True
Good point
Easy and nice return
Is there a platform you prefer or recommend for dividend stocks?
Oh goodness I think Charles Schwab has a great reputation for ease of use and good customer service
I enjoy your content greatly. Would you say 2000 a month is enough to live on in Southeast Asia and South American countries that you’ve traveled to with your style of living or would you need more per month?
Yes, my lifestyle is fine with $2000 a month
If you want entertainment or alcohol add that on top
But I am able to maintain life in Southeast Asia for $24,000 a year
:-)
Great content, however, your assumption is that our financial systems will not change in the future... I doubt if that will be the case
True
So many things could happen
@@RetireandGo imagine AI coming up with investment portfolio strategies... Not in the short term but in the medium term that will have an impact .
@@Streamsofwater67 I can see this
Im sure hedge funds are using AI
It could all change and people do need to have money to buy, products, services and stocks but over twenty years just 30k in a few top companies and Digital currencies could make millions. Or maybe just minding asteroids will save us.
Just got laid off.. working from home in the FinTech industry. More laid off to come replaced by AI... I am the living proof... Lets call it its my destiny to retire early. YEYYYY finally.
I totally understand
It was coming for my network engineer job too
Side shift into another IT field if you have to
Invest as much as possible to get ready
Ride the AI wave too !
i agree
Have a great weekend!
Live like a local to overcome culture shock
Good point !
This works
You meet great locals too
You are referring to social security in the US, but you do have subscribers from Europe as well. Subs who might be meeting some other concerns, like whether your social security still will be paid out in full when you move to live in a low cost country like Thailand and Indonesia. Some countries have already reduced their pensions accordingly for those, and the discussion is ongoing in a few more countries. When it comes to government pension, or social security, as a Norwegian I will sure be safe with mine. My pension is around 3000 USD a month, and is not changing for the worse in the near future. At least not the first 40-50 years or so. It is also regulated every year to meet inflation and such, and once in a while a raise in pension during difficult times. I don`t know what`s happening in the US, but you gave a pretty good picture. I hope everything turns out well for you guys, and you are spot on, everyone should think ahead and join their own pension program as early as they can, so they can live the best life possible when it`s time to retire. Thanks, Sir, I subscribed.
Good points
I have read Australia has a well funded national retirement plan
EU is looking at a demographic issue, not having children to pay into the retirement system
Each area has unique issues to deal with for sure
@@RetireandGo Regarding that, there has been some changes in my country Norway as well. This year the long term pension plan changed, and the younger generation has to work longer before they can retire. Younger people today need up to 3 more years of working before they have earned what we did in our time. Obviously due to an increase of retirees, and people with any sort of support, disability checks etc., and due to a decrease of people actually at work today. I think that is a thing all countries are facing, and trying to balance.
@@siggy3 good point
Government retirement plans can either be funded by the next generation or by the tax payers that might be left haha
I’m concerned in the US they will just print debt to cover it
That’s really dangerous long term
@@RetireandGo Right. I have read about the debt US have, it is quite insane. You should find solutions without adding to that. Luckily my country has no debt, instead an oil fund to secure our future.
@@siggy3 yes true ! Many very good resources
Re social security (SS), I think all the government needs to do is let Medicare cost escalate faster than the SS payout, which I would think is already happening. Then SS is gone once Medicare cost eclipses payments, and all folks are left with is useless medical care.
Good thoughts here
I like these ideas of yours :-)
Excellent video once again! Thank you for your insights. I would also argue that human physical labor will be reduced over time due to robotics in conjunction with AI/AGI. Humans may have a job for quality control and security purposes or to install/initiate/terminate their AI/Robots (ie. plane pilots in the cockpits to ensure flights for safety/quality assurance, not to actually pilot the plane...). Would you imagine if the police workforce would also be replaced by robots?! You can 3D print houses now too... Cheers!
Great points !
I do see security being e handed by AI greatly as facial and walking pattern recognition is used to basically identify every human on earth
Crime will still happen
Criminals will also use AI haha
What a world
:-)
Yes I designed a hurricane proof home from concrete some time ago
Super cheap to build as well with 3D printing
@@RetireandGo on that point, you can opt out of the TSA's facial recognition program for their database that they are populating (perhaps sharing/selling) by simply saying "no, thank you" when they ask. Cheers!
@@RetireandGo wow, you're awesome!!!!! 👍
@@AV4U2 very interesting! I did not know this !
Have a good day
Hi Chris! I’m a 46 year old Canadian. I will be retiring from my blue collar job in 9 years. I’m more concerned about my 15 year old son’s future. Any recommendations for what field he should pursue as far as careers go? Thnx
Yes for sure
Study computer science as a foundation
Also get the GED, skip public high school completely and work those 4 years
Live at home and buy stocks
At 18 he will be debt free, GED in hand, $100,000 stock portfolio and a certification in computers like the CompTIA A+ cert
Are these stocks just options for us to think about, or are they actual ones that you hold?
I only talk about what I buy and hold
I am not a financial advisor :-)
I can’t wait for AI to replace keyboards! Ugg why can’t I just tell my computer what to do, and not type every letter in!!!
True! I think all keyboard jobs are gone quite soon
We must be ready :-)
I code with AI using voice .
It’s works well for basic bits
@@joeblue2492 this is incredible! Would you say you are twice as productive or perhaps more?
This innovation is just beginning
Have you calculated how much someone should have in a minimum way to be able to retire?
This is a great question
Every month I do a 30 day cost of living assessment for the channel
You can get real numbers there to calculate
I will tell you I live for under $2000 a month
Does this help?
I think the next video is the 30 day in Bali assessment
90% of jobs will be replaced by AI and u r the only one telling it like it is. On a lighter note, I loved the cigar place, looks high end with affordable prices. Just curious if they also have wine? Great content!
Oh yes this is a nice cigar place to visit in Bali :-)
Have a good day
I honestly don’t know about investing in stocks and bonds, although I really don’t have a lot of faith in that system either feel like the country is in Dire Straits a lot of things are gonna change and we’re basing a lot of our knowledge on history, but I think there is going to be radical change I’m even afraid ofwhat I have invested in real estate is not a for sure thing either or future is very uncertain these days. What do you think?
You may be right
Many things changing
I’m focusing on infrastructure and energy mostly
In growth, big tech
I think they will run the world in about 5 years
What whisky did you have?
That was Johnny walker
Any preference yourself?
@@RetireandGo glad it was Scotch! I’d go for a peated single malt but all are good 😊
@@scottie934 oh my yes :-)
I’m working on drinking less but quality
Even drinking zero unless I have a cigar
No fries?
I do like hot crispy fries
Do you like onion rings? I love them
Love watching your vid's English guy here ready to sell up had enough of England But i love my country as its so beautiful , but too expensive , to many rich guys buying every thing up meaning the ordinary guy is getting pushed out and begining to be poorer and poorer. On the AI front Ive seen this happen on some of the naughty sites , its frightening as they look so real untill you zoom right in and then can see the flaws , But so many guys are spending their hard earned money on an AI girl that doesnt even exist . Its going to get worse as you say , IM ready to get out from the rat race , Lucky for me I own my own house thinking of selling putting money into high interest accounts for the 1st year then try to find some one to teach me the right places to put my money , as you are sugesting . So i just wanted to say a massive thank you for your vids as im 57 i just want to chill with the rest of my years and enjoy life .
I totally understand
England is so beautiful with a rich history
As a fan of Tolkien I have an affinity for English culture and history
I think this is why I like Pattaya so much in Thailand
The English influence there is undeniable
I know it’s hard when you are priced out of a land you live in and love
Yes, the AI sites you are talking about are incredibly realistic. Like photographs , where on earth is this technology going? I’m amazed !
For the first time, I don't agree with you about SSI, I don't think that any government,and I'm talking about Canadian government,can let down twenty percent of the population, just like that.
I hope you are right :-)
Let’s always hope for the best
And prepare for the worst
@@RetireandGo you’re absolutely right, Aloha.
I think you are predicting the end of digital nomads. That's what I am planning. Hmmm
Let’s hope not !
You will be fine
Authentic content will be king !
We are good to go
@@RetireandGo I am thinking IT related remote working while moving around SE asia.
@@RetireandGo But could AI one day match authentic content? That's what bothers me.
@@kevinn2216 true! I have no idea how darn good it will get ! It’s scary and exciting both
Do you still surf?
Very little surfing any more
Snowboarding from time to time
You?
Yes social security is dead.
I agree
Not even planning for it
Meat pies and hamburghers? Not exactly healthy eating.
I’m dying for tips on how to eat healthy during extended travel.
Good point
Healthy travel eating is a content idea for you !
True !
In your opinion do you think I'd live comfortably on $3500 a month passive income (not including investments/savings)? Planning on doing south East Asian, majority of time in Thailand. Mahalo 🤙🏼
Oh my that would be fantastic
I’m staying under $2000 a month
You will live a more comfortable life !
@@RetireandGo thanks for all your help and great videos
@@MrH2O1984 you are most welcome
If Swedens retirement fund is 0 means that the country is bankrupt. So I hope your wrong.
Ugh .. I’m worried about the US as well
And demographics are not looking good
Please stop being smug about retirement.some people are either not inteligent enough or dont have the funds but they still give it there all.ok?
I hear you
Nothing smug about this ok?
This is about an emergency situation
Plan and invest
There is no parachute going to save us
That’s the idea of this message
Listening to your videos is like a breath of fresh air.
Retired expat from the US living in Thailand six years. Has been great, haven't missed the US for a moment.
Watched a few minutes of the lunacy of the RNC convention. Made me even more glad I'm far far away from the US.
I think SS is funded till 2033 or so, then would have to have reduced benefits. But can be easily fixed, and will be.
I get it every month and happy to have it. Paid in for many years.
Stay safe and happy traveling.
Thank you so much. You are enjoying your best life !
@@RetireandGo love your videos and lifestyle. And positive outlook
@@brucesnyder690 thank you :-)
Very kind
I love your videos. My plan is to invest in growth and top dividend stocks. Also something like bitcoin might be a good hedge against disruption from AI
You have a good plan !
I’m Excited for you
Keep us updated
Enjoy every day along the way ok?
:-)
Good job with the video. I have invested in exchange-traded funds and see they are growing. My biggest investment is health. I stay away from processed food, fast food, and sugar.
I agree with you
Health first
They need to build an AI- robot that can travel South East Asia
and show us how to live low cost and happy overseas.
✨✨😜✨✨
Haha true !!
🫡 SBLK ? 👎
What are some of your favorites?
I’m open to ideas