Re:“Fuck You” Money
by toomuchtodo on Wednesday April 27, 2022 @01:18PM
(#31182861)
Consider this: Rent out the house, move somewhere where you can continue to work remote and have universal healthcare or similar systems where your healthcare risk is limited. Quality western european countries will accept folks with as little as ~EUR25k/year in passive/rental/remote work income.
Personally, healthcare costs keep me up at night regardless of NW. I've seen high net worth individuals get obliterated by a black swan healthcare event (almost always cancer).
EDIT: @mukwenhac Drop an email in your profile.
Out of wanting to research more, which countries accept folks at that income level?
I think it easy for techies to get a job in Canada. Once there, they can start the clock for permanent resident, which takes 3-5 years. Once that’s obtained, only have to be here 2 years out of 5, or working for a Canadian company or married to a Canadian to keep it. It’s not bad living here, and I suspect the aggregate taxes are comparable to high tax states and you have a diversity from Texas like to France like.
They’re not into health tourism, however, so you have to lay the groundwork earlier in your career.
As a pure swag, assume 2k/month outside the us and 5k/month inside the us as insurance for old farts is $$ and things like dental, glasses, meds, … might not be covered under typical insurance. Once you’re not on work provided insurance, things like travel insurance becomes a concern. If a partner wants to work, use that as a source of insurance in the us as long as possible. Not needed outside, really.
Re:“Fuck You” Money
by throwaway-blaze on Wednesday April 27, 2022 @01:35PM
(#31183148)
You can also "retire to startups", meaning go pick the most interesting company to work with and not worry about their ability to pay you or even their long-term viability. If the work interests you and the people will be good to work with, you don't need anything else.
I've done this and it is truly great.
Remember, I'm operating under the assumption that the house is already paid off. Right now, I've got about $250K left in my mortgage. Property taxes aren't too bad, about $4K/year.
That $2M is also assumed to be after taxes from selling my options, but I acknowledge that any gains from the index fund will be taxed.
> But take a pro tip: health care costs add up.
Yeah, this is likely the expense I'm not planning enough for.
But also, as I said, I've got projects that could make money. Also, my wife has stated before that she wants to work to avoid boredom, so she'd keep working, though she'd cut her hours to work 2-3 days/week.