How I Make More Money Retired Than Working. Bali Indonesia Travel. Expat living overseas retired
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- Опубликовано: 26 авг 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
www.amazon.com...
Iphone 12 pro max
www.amazon.com...
O'neil Brand Nomadix Cargo Shorts
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DJI Osmo 4 gimble
www.amazon.com...
Microsoft Surface laptop
www.amazon.com...
KEEN light hiking shoes
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Swedish Kasa Cup for camping and travel
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Waterproof stick sun block
www.amazon.com...
Music:
Music: Goa
Musician: ASHUTOSH
Site: ashutoshmusic....
Music: Solo Acoustic 1
Musician: music by audionautix.com
License: creativecommon...
Music: Solo Acoustic 3
Musician: music by audionautix.com
License: creativecommon...
Music: Solo Acoustic 5
Musician: music by audionautix.com
License: creativecommon...
Music: Sleepless Night
Musician: Bimbotronic
Site: icons8.com/music/
Music: Swallow
Musician: EnjoyMusic
Site: enjoymusic.ai
Social Media:
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Dont respond to any What s app comments. They are all scams
Actual Instagram: retireandgoyoutube
Actual Twitter: RetireandGoYT
Actual Facebook page: Retire and Go RUclips Channel
"I'm not buying clothing." Dude, you've worn that shirt every video since I started watching you three months ago! 💪
True! I have two long sleeve shirts
I’ll buy two or three for next season
( I use years as seasons of travel)
They work great
Light and comfortable
No buying a bunch of clothes for me :-)
I live out of one backpack
That’s his way of traveling, backpack only❤
In the grand scheme of things, clothes are not important..Travel light my friend..
He also washes his cloths in a bucket with a 25 cent package of detergent. Brilliant for sure!
@@user-do6uy5jb6n yes true
I love it
Less stress and peaceful life
You not only reduced your living expenses, but you also reduced your level of stress. Thank you for another inspirational vlog. Mahalo.
So true
You get it exactly
:-)
Have a great week
I travelled all over the world alone, but I love to travel with my Thai girlfriend, because i love to share beautiful places I see
Very nice :-)
I wish you both fantastic journeys
Thumbs up 👍 Christopher & a big Aloha
Aloha to you!
:-)
Let’s get this brother to 100,000 subscribers 😎👍🏻
Very kind of you
Thank you
I’m blessed to be bringing positive energy to good people every week
Don't forget how living an enjoyable life vs. a stressed life will cost you money & time in the future.
What do you mean?
Where is this coming from, Tim?
Working for decades and investing so you can retire and travel will cause problems later?
Whatever is going on , don’t give up ok? Don’t let this pessimism persist in you, have hope and make changes ok? :-)
This the way of living cheap food and good people from all over the world is at bali. Enjoy your life sir
Thank you :-)
This is the nomad life I wanted , it’s not fancy but it’s peaceful
My goal was to retire early by 50. I was able to do it at 43 and left the US last year. Living the life overseas is much better then working like a dog in the US until 60 or 70. 🙂
When you retire and not receiving much on social security, how will you make out then?
@@ducphong9334 I made a lot in my years working, saved and invested it. Paid a ton in taxes so If I ever make it to 59 and a half my IRA will be available or 62-67 I will have the crumbs of SS that will be left. I am not going to work another 20+ years for a few thousand per month in SS. I make more then that in passive income and as time goes by my investments will continue to grow. I chose to live my life now instead of working until I die. I rather die young and happy knowing that I did what I wanted my way then live a long life working. It's not for everyone but it is for me.
This is awesome ! 43 !!
You are doing great
Don’t stress, we can’t plan on social security unfortunately
It may be broke
Plan on our own investments
I’m not even planning for social security
I think it will be broke haha
I’m
Investing!
Aloha fellow retired Kamaaina. Can not agree with you more. Retired Jan 1 from Kona, Hawaii. In 2023, I made over $130,000 (loads of overtime, knowing it was my last year of work). After maxing out my retirement, I was just getting by. My wife and I have a very minimalist lifestyle. Never go out to eat, or buy any extravagant items. The cost of living in Hawaii was so ridiculous, Was making incredible money, but it just seemed to flow through my fingers. Everything was such a rip-off. It's sad to leave Hawaii, but life is so much better now. We have been traveling through S.E., Asia. Our cost of living has been about $2,000/month for both of us. [BTW we tend to go a step up in accommodations. Usually spend $35/40 a night. Try to get breakfast included. Help reduce cost). Today, got a $3 haircut in Cameron Highlands in Malaysia, try that in Hawaii,
Keep up the great work; we hope to cross paths.
A hui Hou
I loved reading this !
Yes, I had a similar experience in Hawaii. I was falling behind and working so hard.
I hope you two have the absolutely best year of travel ! :-)
Should be REQUIRED VIEWING in the US ❤️ - I believe now that the “American Dream” of owning a house, car etc is a trap that keeps you on a treadmill for life. Unlike renting where costs are capped, you never stop with expenses on a house. Another great one Chris! Keep sharing beautiful Bali 😍
I agree
The dream has changed
We need to adapt as well
Work and invest in the US, then retire overseas :-)
Hey Chris, I've been watching you for a while now and I think your videos are getting better and better. Keep up all the great work you do for all your subscribers and enjoy the journey!
I really appreciate this feedback
I work on editing, music, ideas
Thank you so much :-)
@@RetireandGo I can see improvement so keep it going mate. 👍
The shorter hair suits you man. Makes you look ten years younger.
Thank you so much
More comfortable as well haha
:-)
Great video brother, the one thing you haven't mentioned is you are self employed now, you do as you like, that's worth everything to me these days. I have been watching your older video's you have made steady progress. All the best my friend, PEACE!!!
Very true
I appreciate this
:-)
Great video mate. I'm not retiring just yet, but semi retiring i guess at 40. 4 hours a day is enough for me. But allows me to travel, and escape the west 🎉
I think that is a good idea
4 hours a day
Maybe 4 days a week
That’s a sweet set up
@@RetireandGo thank you, yea 4 days will be enough for me 👍
love that you broke this down like this! Very inspiring!
I hope it’s helpful :-)
Have a great day
"You are NOT a Tree....you can always move". As I mentioned before, we are in the process of downsizing/selling the house (money pit) and will get out of here next Spring. We have done the numbers and it clearly shows we will have a sizeable surplus every month when we are in Malaysia (to start). We have lived overseas before (Latin America), and can without doubt confirm everything you are saying. Keep up the good work. Always let us know what you are paying for things to keep it all in perspective. Show us some small shopping areas for clothing and a grocery store and compare some prices. Showing actual prices is the best way to validate your information. Keep up the happy travels!!
I totally agree with you
A world to explore
Have a wonderful week :-)
Ok I will keep this in mind
I’m trying to show all prices
I’ll have to do a market walk around
I we stayed in Kuta for a few days and spent a day in Ubud but visited Java and spent a few days here each major city, I loved JogJa, we spent a month in Indonesia, what an amazing country, we came back just 2 days ago. One problem is the visa restrictions on long-term stays for expats.
Yes true
I’m looking at the one year digital nomad visa perhaps
Absolutely no brainer, I fully understand. It’s very smart you don’t need to pay taxes on dividend stocks.
Yes :-)
And US treasury bill income
And any income you earn while retired like rental income … try to keep it below the standard deduction of $14,000
You make great videaos mate.
Thank you for this feedback
It’s appreciated
:-)
I felt like you were talking directly to me when you made this video. Thank you so much. I am in the same quandary that you were in. I have a job 55,000 a year extra 5000 off AirBnB paid for, Carr paid for, and I can barely keep my head above water with paying taxes car insurance house insurance very expensive groceries here in the US, I’m better off to do the same thing and I’m about to in three months.
You are doing great
Planning
Preparation
Awesome !
Saving money = Making money
True! Reduce costs
Build that retirement a little more every month
Great video, Chris, on living a cheap and enjoyable life overseas. I am retired and planning my next trip overseas to several locations in Southeast Asia. Thank you for your very informative and detailed cost of living outside the US.
You are most welcome
Have a good day :-)
Timothy Ward recommended this channel! You’re making me reminisce about my first visit to Bali…now I wanna go back! Thanks for sharing! I’m on a path to retire early too…or at least divorce Corporate America completely.💯
Tim is a wonderful mentor for me
Very inspirational
This is great to read
You are planning and preparing well
I appreciate the videos and motivation to get my plan put together to live the good life. Keep it up brother you paid your dues in the Military and contractor life. The hardest part of breaking away is not being like everyone else with all the debt.
Any suggestions on the travelers insurance?
You can try Genki insurance
I’m working on more information for you on this
Thank you for the information.
Check out the link in the description of my newest video for travel healthcare coverage. :-)
It’s new !
Thank you
Hey Chris, as always, another make sense video. Thanks for your continued efforts and path forward views. Be safe out there!
I appreciate this
Thank you
Have a good week :-)
What you did my friend is very simple, you broke out of the matrix, great and inspiring video, thumbs up, Alloha.
Amen!
Thank you for understanding
I agree :-)
Another great video.
Retired expat living in Thailand six years.
Great Thai partner. Everything good here- nice people, low cost if living, no inflation. Plenty of travel. We own our house, car, big bike. Pay no US taxes, no property taxes.
Havent missed the US for a month.
Bali early next year. Will use your videos for plannjng. Thanks again and safe travels.
I totally understand
I commend you on a great plan and set up !
@@RetireandGo keep those videos coming!! Going to KL soon, gotta check your videos.
Stay safe
Great vid with excellent factual points. What it cost my wife & I just to go to work each day is insane. We are 2 years away from making the leap overseas.
I totally understand
I was amazed when I saw one year in Asia … and my bank accounts did not change !!
My dividend income covered my costs ! For 12 months !
Can you add a video on your monthly income and outgoings
Absolutely!
I’m making 12 this year
Check my channel page for my monthly 30 day costs breakdown
@@RetireandGo excellent. I watch every one of your videos. Keep up the great work
Looking thinner brother, its working👍🏽
Thank you :-)
I’m
Really working on it
Loving your videos amd advice mate. Good on you for living the dream ❤
Thank you so much
I’m enjoying your streams ! Thank you for bringing great music to us watching around the world
Enjoy your video as always. Please keep posting about Bali.
Absolutely
:-)
Lots of Bali ahead !
@@RetireandGo looking forward to watch them
Working is expensive! I’ve always said this since the first time I was laid off and got unemployment. Was at 60% of my wage and had more money by a long shot. Gas money, lunch money, etc… over a month is a lot to spend
Yes I experienced this as well
The traffic
Stress
Lunch costs
Taxes
Housing in the west
I could not afford it anymore :-)
I am thrilled you're getting to live a dream life in paradise! I was very interested in your earlier content about overseas government contracting and to see the outcome is even more of an inspiration. Given that this video talks finances, do you see yourself making a video about your experience with salaries and expenses working as an overseas government contractor specifically regarding IT? After much research, I wouldn't hesitate to say you're one of the top authorities on the matter online. I think it may bring more attention to govtech and it would certainly grant many the insight into their potential and future! Thank you for all your videos!
Good points
The overseas work in IT is so huge right now
Eastern Europe is opening so many six figure jobs in IT for government contractors
I hope more people get into it
It propelled me into financial security
5:33 USD15 For that room...
Oh dear lord.
That really is a great price🎄🎇✨✨
True!
Malaysia … $14
Pattaya … $16
Southeast Asia is the way
Simple rooms for a simple life :-)
👍❤ enjoy your life
Thank you so much
Have a great week
Not only all that, but the food you are eating is not ultra processed and naturally healthy, meaning diabetes type 2 and other metabolic syndrome risks are greatly reduced or eliminated entirely.
You have won the game.
I agree, very healthy
The game awaits you as well ok?
:-)
@@RetireandGo Oh yeah - retire in Sept for good after semi retiring at age 58.
currently in the UK with an eye on SE Asia where I lived for 11 years in the '90s.
One more masterpiece video
Thanks ❤❤
Thank you :-)
I hope you have a great week
Another great video," thanks!!! Were I live here in the south west most people work 2 jobs and still have debt, makes sense to retire like your doing and not get ripped off from our home country😅
Yes that was me
I had jobs, paying bills, nothing left to invest to retire
I needed a change
Yes, its possible. But note you gotta be a property owner to get that rent and have a place to come back to for when u get old.
Both are very good points !
Truth
I did the math 3 yrs ago too. Now spend 1/2 year in Asia, 1/2 in the West. Have a small condo, but far less cost than a house. Thought about going back to work part-time this year, but taxes would be more than 50%. Think I'll stay retired.
I totally understand
Sometimes working a little can be fun as well
Interesting too
Great video Christopher :). Would be great to see a video of your income breakdown, ie what you get for your rental, your dividends etc.. Us Fire wannabes love the numbers man :)
For sure !
I can generally plan on $2000 a month from
My investments
That’s why I keep my cost of living below $24,000 a year
Tough in the US.
Does this help ?
@@RetireandGo perfect, although a video on it would make great content, eg description & location of your rental, what rent you receive etc.. Would you invest in more rentals? Thanks
@@ianwhittaker3041 I appreciate this !
Unfortunately in Australia I don't believe we have many tax free investment incentives. If we make money from super etc after retirement its all taxable, however we do have a tax free income threshold. We have high bodycorp, rates and insurance prices, even on cheap apartments so, if you keep your home while living overseas there would still be high costs, even if we aren't living here. If you are lucky you may be able to rent it long enough to cover the costs but I know a unit downstairs from me was trashed by tennants and the owner is still getting it fixed up do it has been vacant for several months, its probably costing him money now - fixing it up after bad tenants and still paying rates, body corp etc. . But if you sell, it would probably be hard to afford another place later. What to fo?
You do have a well funded retirement plan nationally
I just watched a video on it
Like I said did this 30 years ago, now living the life here in KL my apple stocks are going nuts my dividends are fantastic cost of living is very very low I love it your right I can vouch for you bro. I'm living proof, America love it or leave it and I left!
You have done it right !
How has the summer been?
Enjoying ?
@@RetireandGo yep this summer 28 July we will be in Sanur Bali like yourself we go every year to Bali
I like the solo filming ✅ No one has run off with your tripod & camera whilst filming an overview wide angle shot of you ignoring camera walking other direction 😊. Very cool.
Good spots of private filming too. Nice & quiet ❤. Love that. Beautiful spots.
Is it possible to know what camera gear you use for filming?
Great points
I do keep an eye on it all for sure
Locals are not the problem in Southeast Asia , drunk westerners are haha.
Yes I walk early so the tourists are all asleep still :-)
Yes of course , I use the iPhone 12 Pro Max for all filming
Best cameras you can get
Cinematic grade
@@RetireandGo Nice one. I have the iPhone 12 also but not the Max. I just asked because I thought you might be using the Gopro.
@@peterfischer5459 the pro max coming out this year has even more advanced forward facing cameras
Go pros are nice! Don’t have one?
They are easy to travel with
Once again, an inspiring and captivating video that you have created for us.
You are likely not the only one in the USA with a similar situation. Do you know how many Americans are seeking a better life in Southeast Asia? Has it only been possible because you use the Dollar in Southeast Asia, otherwise, you would not be able to retire early?
Great questions
Would you agree most Americans and Canadians head south to Latin America over Asia?
I think that’s the most common
I like both but Asia is more my speed
@@RetireandGo I think you are right. How about making a video about it? Why Southeast Asia is more to your preference and what the advantages are compared to Latin America. And what would your experience be if you chose Latin America? Maybe also discuss the benefits of using dollars in Asia, as this can help you save, right?
@@M.ForEver888 in Argentina they really wanted those US $100 bills
Openly calling for them
It’s the right year to go there !
I love it ……..we think alike🥰
Outstanding! Enjoy life, travel, health and retirement
Have a great week :-)
Watch the bad oils they use mate, Really did damage to my father..
You are definitely living the dream! I'm 49 and doing it in the Philippines,
Tell me more about the oils, food or skin creams ?
Hey! You are in the Philippines? That’s great
I enjoyed my travel there in 2023
Many videos up from the Philippines
@RetireandGo seed oils are so bad! I avoid them 95% of the time( very hard like thailand to avoid) here in Philippines but I've found restaurants where I can get at least olive oil.. my father died of a heart attack at 65 and was told definitely fried foods, he ate alot of Chinese, Thai, fried foods and clogged his arteries! Also drank massive amounts of coke zero! Never drank alchol nor smoked.. sunscreen use coconut oil 👍 sunscreen is toxic! Yes il get shit for this but it is!!
Keep living that dream pal and chase them good oils! Even request just cooked in butter
I have been homeless for 18 years. Now over 70. I have lived in SE Asia, Mexico and except for Covid, South America I stay 9 months a year in South America. I don't go to Asia anymore. Too hot. I live on $2000 a month also but my costs are less. I have a South Dakota residence. They have no state income tax. Over 65 you get a standard deduction of $15,500 and I don't pay federal tax on Social Security. I am in the top 5% richest people in the world
You are set up well
South Dakota is beautiful as well
Please we need more information about how we can di like you.... every working day is very stressful in Sweden.. it is like nightmare
I understand
You are doing what you need to do
Work and invest
Enjoy your time now as well with good hikes outside of the cities ok?
You are working towards your goals
True freedom!
Yes !
Freedom is 100% control of your time
It does not connect to a number or amount of wealth
It’s time control :-)
@@RetireandGo Exactly what I am now doing in Thailand - having retired for exactly the same reasons as you...😁
@@darrylsmith7069 nice !
Abud will definitely be my place as I love vegan food and natural health. I have to admit, I’m a little afraid of the monkeys lol. Living overseas seems to be the best choice for me. Thank you for helping me make that decision 🤗
You are most welcome
Keep us updated on your travels ok?
So essentially, doing some calculations, going by the 2 grand a month you live off 2/3 of the money you'd get paid in that " great " job, but because of the new found lifestyle you get to keep some in the bank after every month growing your investments and/or savings, awesome 👌, could you give a ballpark figure what is needed to generate that sort of return in your case, lumpsum and average percentage income on that?
Reducing cost of living is a huge factor
My housing is under $500 a month most months
No automotive costs at all
These are huge
$100 a month travel healthcare
That’s $500 a month savings
We are talking thousands of dollars a month not being spent.
I keep my annual cost of living I’m under $24,000
My income from investments covers that :-)
Not rich by a long shot haha
But it’s working
Does this help ?
That is keeping it real❤
So you’re not an Expat you’re basically a traveler you don’t have to apply for a resident status because then you would have to make a certain amount of money to be able to live there, correct?
Absolutely :-)
Have a great day
Each country is different
I just use visitor visa
I want to change countries for the channel variety :-)
Indonesia started a sweet one year digital nomad visa I like
@@RetireandGo fun nice😀
@@RetireandGo i’ve always thought Mexico was my go to, but seen your videos has expanded my horizons
70k a year in Hawaii is ridiculously low especially for someone like you with all your IT experience. You were doing overseas contracting before where the pay was significantly higher and you wouldn’t have to pay taxes on roughly the first 120k. Why not continue doing that? Just to stack up some more “just in case” money. I am still looking into overseas contracting still
@@jaymeez all true
Pay in Hawaii is 30 percent less than California
Terrible
That’s why I went overseas to a war zone
Dangerous but profitable haha
@@RetireandGo Hey any advice for someone looking to get into IT specifically for overseas contracting? Should I go Security+ first? What resources did you use when studying for the exams?
Would love to see your full portfolio brother
Just watch my stock videos
I give names
Also my dividend income is $2000 a month and that enough to live in southeast Asia
Shoot for that number and retire
I believe you now. I figured $30k for property taxes, car and home insurance, and medical insurance if I did not work. One cannot retire like that. In the US you are forced to work. And when you are over 50 in IT, they dont want you.
Truth! You are right
I realized I would have to work harder or even return overseas
I’m not in my 20s haha :-)
I was done
Truth! You are right
I realized I would have to work harder or even return overseas
I’m not in my 20s haha :-)
I was done
He's getting rent so surely he must be paying property taxes still?
@@cathyanderton1583 great point
All income must be submitted to the IRS
Always
Here is the advantage: the first $40,000 in qualifying dividends are federal tax free (move to a state with no taxes and you are even better!)
My rent income is below the standard deduction of $14,000 so its tax free too
It’s about planning
Preparing
Letting your money work for you, ok? :-)
You almost did your daily food budget in that cafe alone? Was that lunch for $6? Was the coke extra? Only $4 left for the rest of the day's food budget. It adds up quickly, even when dishes are $3 each! Does the accommodation include Breakfast?
I barely break $10 a day unless I’m doing a video or something haha
:-)
Have a good day
I love your Videos and Your Content. I checked with Google Maps where the Hotel is and where the Restaurant is and saved both in my Google Maps Travel List. Do you meet while traveling some other expats? I there a good Expats community? Do you have a recommendation for good places for a female solo Traveler between November and March? Because this is not a good time to be in Bali because of the weather. I thought Thailand should be nice, but I would like to have something other than Pattaya, something more Bali-like. 🎉❤ Thank you for your content.
In coffee shops and even 7 11 you will smile and say hello to expats all the time
Invite them to sit and chat :-)
@@RetireandGo Thank you from Germany
How do you get Healthcare set up for yourself overseas?
Very good question
I use a $100 a month travel healthcare plan
It’s quite good
Many companies to choose from
Does this help ?
@RetireandGo Yes, Thank you! I'm fully considering making this transition as soon as I can.
Great video. Can you show us or give us list of qualified dividend stocks. Or ETFs.
Absolutely
I’m trying to do about one investing video a week
I’m mentioning stocks for sure
Any favorites you have ?
You've figured it out!...'made in the shade'...We think very similarly. oh and nice haircut 😉regards Jason 🦘
Thank you and have a great week, Jason! :-)
You're an inspiration. Would you recommend this kind of life for a young family?
This is a great question
There are some families that are moving to Indonesia to raise families
They are quite welcoming
Check out their visas
Malaysia as well
dude, no way you paid 50% tax on 70K income .your actual tax was well below 30%
Hawaii
One word
Highest taxes, fees, all utilities and services
Insane
In Hawaii it is a starting, starting, rule of thumb to divide income by 2
Start budget from there
So shocking to get the numbers. The COL in the US is incomprehensible.
True
I could not keep up !
Hi, could you provide more detail, as we are looking to set out travelling soon. How much do you invest to get 2000$ return every month? Also what about phone, flights, train/taxi etc, and RUclips earnings? Thanks!
Yes of course
If you invest safest like SCHD stock you look at the dividend yield
That will help you calculate how much you need in it.
I use higher dividend yield stocks with it like O, ABR, MO, LYB, ENB, SBLK
This brings diversification
In Sweden I pay over 60% in taxes. And then sales tax is normally 25%. Its not doable any more.
Inviting half the Middle East is expensive.
Oh my ! That is really high
Well, you get to be surrounded by beautiful blondes .. there is a price ! Haha :-)
Southeast Asia is the low cost way to go
We are planning with my sister, slow round trip to some Latin America countries, and later to Southeast Asia. Can you tell me please which Health Insurance company is good for both regions?
If you search the top three I have used all of them haha
Call them to double check the coverage has not changed
I wonder which countries are not part of great reset that is coming. Southeast Asian while it is cheap, I wonder it will be affected if dollar system goes down
This is an important thought
I think Asia is pulling away from the west more
I’m ok with that
So am I haha
:-)
@@RetireandGo Thailand is getting into WEF. They are planning to give each Thai 10,000 baht in crypto, costing about 2x the liquidity in the entire Thai banking system.
@@BebopKoala I have not read this
Very interesting!!
Kuta beach? Ubud is nice, but I really didn't like Kuta. I'm just not a fan of Bali. My wife likes it, went back a few times on girl only trips. Should I be worried?😂😂
Hawaii really does not pay a lot. Tried moving back there and took a big pay cut. 2 years later, I decided to move back to CA.
I totally understand
Have you checked out the Seminyak area about two kilometers down the beach ?
Less traffic I think
:-)
💯🎯
A big thank you to you !
What about female company?
I’m enjoying my solo time right now
I needed it :-)
The gap between income from wages and investments has been steadily getting worse for wage earners over the years. The economy is set up for rent seekers and not workers. This will become a huge problem in coming years. Here in Australia we're struggling getting essential workers in high cost locations like the leafy areas of Sydney. Who in their right mind is going to commute 3 hours a day, paying road tolls and parking, so that they can serve those wealthy rent seekers?
I totally agree
It’s very hard in Australia and in my country as well
Prices are going to the moon
This is why I advocate to retire, invest, get out of the west
For health insurance what r u using safety wing?
I have a travel insurance plan
$100 a month
It’s not bad
There are many good companies
Great video.
I was a process control engineer (just retired 2/21/24) I would always stress test my projects just to make sure it would work under all conditions.
Also depending on the government.
But I found away of earning more income despite my Retirement. $67k weekly returns has been life changing, after so much struggles.
This is outstanding!
You are planning well and setting up your finances properly
Excellent
How did you know when to make the change? I’ve been theorizing and pasively planning for awhile but I am procrastinating when to “Launch”. Any suggestions?
Start small
Cancel all monthly subscriptions and sell anything you make a monthly payment on
Start an online brokerage account, use customer service to help you if need be
Pay off all debt
Put 20 percent of income into stocks before you spend one cent on anything else
Workout every day and cut carbs
Reduce food costs my half
Study a valuable job skill to double your income
Does this help?
@@RetireandGoI guess your response makes it clear to me that the ? Is really when/how to determine when to quit and make the change. Do you suggest trying it out x 6 mos trial to determine if it’s everything you hoped?
@@vbrandi7928 travel? Start with 30 days :-)
See if you are comfortable in the country
I hope you're considering Roth conversions while your taxes are so low.
Very good point
I retired early so I don’t use many traditional retirement avenues like this
Just standard dividend account
First $40,000 I make in qualifying dividends is tax free
No need for a 401, or 501
( I don’t even make that much haha )
But, for sure use these ! You know your situation best !
@@RetireandGo Just to be clear for folks who may not know, Roth conversions aren't about making contributions today. Rather, it's about converting pre-tax contributions made in the past (to a 401K or IRA), to Roth 401K or IRA now. You pay taxes on the conversion (as ordinary income) but by making the change you shield future growth from any income taxes (because it's now Roth).
I don't recall seeing you go to The Phillipines. Is this not on your radar?
I was there last year
Please check out the videos
I made many videos from different cities and islands
Really nice trip !
Hmmm 50% tax for $70k income? Where do you get that number from?
One word
Hawaii
Utilities and service fees on top of highest state taxes
Half is generous
Another great video!! Do you factor in your airplane tickets to your expenses?
Do you get lonely at all travelling on your own? 😢
Great question!
I do figure in my travel expenses for sure
Southeast Asia round trip bounces are cheap
Sometimes under $100
Scoot airline and Firefly airlines
@@RetireandGo Thanks for the tip! Will look into Scoot and Firefly airlines. We are looking at going from Chiang Mai to Vietnam so will do a search on those two now.
Food in the US is a lot more than $600❤😂
I spend about $300 to $400 a month, but I don't eat out or order out. I cook everything.
Truth !
This is smart
You are doing great
I loved cooking
I miss it
What would the amount of yearly income in the USA have to be to make it worth your while? $100,000, $125,000 $150,000?
If an overseas job in a war zone opened for 250k I might go hot again for two years
Otherwise , I’m good
I’m investing, growing my retirement, traveling , enjoying life
@@RetireandGo sounds to me like you’ve checked out of “the system“ and truly, no amount of money could entice you back into it. That’s how I feel at present. I keep asking myself, how much can a prospective employer buy me off for working for them eight hours a day, a 10 hour investment with commuting and getting ready for work…? My answer keeps coming up, nothing, I’m going to Bali. I refuse to have half of my income stolen through taxes to be just thrown out of the window in front of my face each month. One of the strangest feelings in my life is being 50 years old and feeling like a foreigner in my own country.
@@4flyguyeli you and I think alike !
@@RetireandGo what is your investment RUclips channel called please?
@@4flyguyeli I do videos each month on here talking about how I invest. No advice, just my moves
Can you comment and teach us how is possible how you can pay almost no taxes ??? Please and thank you. 🙌🙏👍😎🇵🇦
Focus on tax free income
As an American I can make $40,000 a year in qualifying dividend income federally tax free
Also you can earn US treasury bill income tax free
If you have rental income … keep it below the standard deduction of $14,000 a year
Does this help ?
Brilliant 🤩🤗😇🙌🙏👍🇵🇦🇺🇸🌎✅
Thank you 👍😎🇵🇦🌎
How old were you when you retired? Just curious, not asking for any specific reason.
No problem
I was 52
Three decades of working investing divorce jobs failures victories behind me :-)
I’m 54 now
Second year of full time travel retired early
I broke free from the matrix.
Hi. Christopher. Always look forward to your vlog ... Very inspiration
But would you mind to share which platform you bought your stock?..
I m interested to get into stock but not sure which platform to start with.. too many out there
If you are setting up a new account the online brokerages are very helpful
On the phone they take you through it step by step
Which ones are you thinking about ?
Interactive brokers.. have you heard of?
@@pingngui8713 hmm the name is familiar
I'm curious to know how much did you invest into dividend stocks in order to make $2,000/month?
Great question
Use percentage of interest earned
You can look into this and it’s important
If you invested $100,000 and received and annual return of 4%…5%, etc etc
This is a good exercise to do
Excellent advice! I need manage to get half a million dollars and invest all of it in the stock market in order to live in Bali for $2,000 a month. It would take me 25 years with the income I'm making here in Virginia. I'll be long gone by then. Anyhows, best of luck to you and hope we don't see a market crash soon lol
@@bens007 I understand
Americans working in the Middle East are making 100k tax free and no expenses
All provided
So 5 years !
Also living in a 2 bedroom 2 bath and renting one out equals zero costs.
Investing $25,000 a year in 8 years with growth you are good to go
Hi, lived in Hawaii & wish i could return. Food is so $. Great healthcare in Hawaii, drs, dentists, best in US without the high cost! Please list your healthcare ins if u feel like it. Enjoy Bali! Great u have a home in Hawaii & your still healthy!
Yes I agree
Hawaii is wonderful, just pricey
They need to get the homeless issue fixed as well
I will take each decade and the assess the Hawaii situation
@@RetireandGo Southeast Asia can't be beat for people, prices & culture! Love Bali, no place on the planet like it! Living culture!
@@lizcarlyle2477 I agree with you :-)
Hello! I have a question. Do you ever get lonely travelling around on your own?
Great question
I have a few videos on this
Traveling Solo
I have another I’m working on
Remember I worked and raised a family for over 3 decades haha
I’m kind of ready for some me time :-)
Your list didn't include medical expenses, dental, eye glasses, surprise expenses, et
Good point
I am working on these with my 30 day cost of living videos
I’m making 12 a year
Thank you for reminding me
But he showed he spends $2k a month and only $800 on food and rent, guess they are the sorts of things the other $1200 is going on... Unless it's on partying 🎉 😂 !
@@cathyanderton1583 you bring up a really good point
Airfare and buying more dividend stocks every month take care of any remaining money
You are right though… sometimes my month is solidly under $1000!
you probably already mentioned this in a previous video.
Is all of your income from a brokerage account?
Great question
Dividends, one rental , business investment
Those three
Almost all income is set up to be tax free
How much do you need to invest to get a reasonable return on your investment
Isn't the rule of thumb 4%?
Great question
For me I live under $2000 a month
So $24,000 a year returns on my investments is my target
Never touching the principle
You still pay Hawaii state tax or you change home your home state?
Oh yes for sure but my income is mostly from tax free investments
Don’t get me wrong , Hawaii always finds a way to get you haha
I’m at the airport taking my first trip to Tulum, where I’ll stay for a month, then work my way across Mexico, then to visit Family in HNL then to SE Asia. I was feeling a bit anxious for a moment, and then I remembered your videos and those of other kind RUclipsrs who made this way of life doable. Thanks for sharing your experience.
So Im wondering 🤔 Is this lifestyle and budget obtainable with an initial deposit of 650k ? And separate emergency reserve of 100k ? 🧠
Sounds about right. 4% ROI is the benchmark. That would give you $26K per year.
Oh my goodness I would say so
That’s a nice sum
In dividend stocks … like a sweet return and good emergency fund
Nice!
You may have embellished your income tax burden a bit; hard to believe its "50%" of your gross income.
A $70k job only puts you in the max 22% bracket, which with the standard deduction and laddered taxes typically means an effective 16% federal income tax rate. Couple that with the max 11% HI state income tax, that's at MOST a 27% total income taxes. You may want to recheck your 2023 tax return.
Also remember that you as a savvy guy, are living off NOW on investments (stocks/bonds) which requires I assume a mid six figure portfolio to start--a luxury that most people who contemplate retiring in the low cost third world WONT have.
Maybe I missed something?
Hawaii is so expensive, it’s on top of federal tax
Hawaii also has “fees” added to every utility and purchase
Basically another tax
Insane haha
But rather way it’s behind me now , I’m done paying all that just to have it wasted
:-)
@@RetireandGo I understand and thanks. And I read your response below where you state you make $2k a month now. That infers (assuming your div yield is 4% as an average) you have an rough approx. half million dollar portfolio working for you. Am I in the ballpark?
You forgot 7.65% for Social Security and Medicare tax if he was working.
No way that you are paying 50% tax on 70k in earnings. I can't take this video seriously now.
Oh my in Hawaii … easily
State and federal
All the Hawaii utilities fees
Service fees
Easy 50 percent :-)
Don’t move to Hawaii
Move to Texas
@RetireandGo State income tax has nothing to do with your utilities. Use candles. Walk more. Ride a bike. Cook by camp fire. Utilities are usage based. Also, why CHOOSE to live in such an expensive state on a comparatively meager salary?
@@Oh-Holy-Hell uh … I choose not to live there … hence the channel you are watching right now …
Same in uk mate
You contradict urself , you say u have to pay rent , then 5 minutes later you say you rent out your house
Can you explain please
He didn't contradict himself. He would pay rent or mortgage if living in the US. He doesn't live in the US, so he rents out the house.
@@marcuscicero538that doesn’t make sense
He included his rental costs in his budget but have his own house , so why does he have to pay rent
I don’t pay rent I live in Southeast Asia and pay for $15 hotel rooms :-)
Sorry if you were confused
My housing costs are under $500 a month now
Food as well
Insanely logical to get out of the west now !
Truth
Income producing assets
Dividend stocks, rentals, treasury bills , bonds
This is the way
I said in Hawaii it was $2600 not Asia
Does this help clear this up?
:-)
Yea but your overall value by selling your USA property was definately not worth it. Rent it. You'll never own again in the US with these current costs
Plus you've cut yourself off the USA medical system. Your achieving greatness till you get real sick God forbid!
Headed there at 48 with all the$ in tact but I would never ever ever give up my coverage in the states!
I agree
That’s what I did
If I was not clear, sorry
I had two condos
Sold one ( I was living in)
Continued to Rent out the other
I’ll try to be more clear on this , thank you for the feedback
1 cost you don't mention is women 🤣🍷🍷
Haha
That’s really expensive :-)
I can’t afford that stuff
@RetireandGo Funny mate! I'm leaving the US next month back in KL 😊
@@andylifetravels oh very nice
I love that city
Great video! Thank you! By chance, do you miss your high school/college friends and/or family that you really click with?
Had to stop at 3:35. Your math isn't mathing. State and Federal taxes combined is not 50% of 70k. It's nowhere near 50 which means you either have never paid taxes or are very ill informed. It's criminal for you to be giving anyone financial or life advice. Scary. Don't listen to this guy.
Hawaii , that’s the issue
Taxes, fees, etc etc
Take income and divide by 2
Then start figuring your finances
That’s Hawaii
@@RetireandGo Hawaii is a state. It has a star and everything.
70k Gross Salary, Single Person
• Federal Income Tax: 22% of 70k = $15,400
• Hawaii State Income Tax: 8.5% of 70k = $5,950
Math that Maths
• After-Tax Income: $70,000 - $15,400 (fed) - $5,950 (state) = $48,650
• Monthly After-Tax Income: $48,650/12 = $4054/month
💡Suggestion Itemize your Hawaii Monthly Expenses: Rent, car (note, insurance, gas, tolls), utilities (electric, gas, water, garbage), groceries, entertainment, memberships and subscriptions, etc...
Mathgical
Now you can *accurately* calculate your for 💩s and giggles money (what you have left to save or spend on whatever suits your fancy)
• Monthly Discretionary Income: $4054 - $(HI Monthly Expenses)
• You can use the same logic to calculate 💰 in Bali.
• Compare HI to Bali - accurate now given you're using the same mathogic.
I think what you're doing is great BUT, the math needs work. Soon to be retirees not only lend on you for inspiration. We want to live our best life too and for many that starts with, "Can I afford to?"
Make the math math. Good luck to you and thanks for sharing your journey!