Sidekickeh
Dryer sheet wannabe
- Joined
- Apr 20, 2010
- Messages
- 12
Hi guys. I am new to these forums, however thought that it may be a good place to learn about and discuss the fact that I am contemplating making a major life decision. I am 32 years old, and am planning an early retirement this year. I know that many of you probably will not agree with this, and it goes against the norm, but I invest for a living, and am planning to live exclusivly off of my investments.
I currently have approxamately $325K USD in my total portfolio, which generates on average $10,000 - $40,000 NET per month. Sometimes more, very rarely less. The portfolio is comprised almost 100% of alternative investments. The portfolio is very nicely diversified, and I am happy with where all my funds are parked for the long-term, but also have contingency plans in place if performance starts to suffer. I constantly scout out new opportunities for further diversification (i will never retire from this).
To complete this plan, I am planning on making the transition to move to either Panama, or Uruguay (still undecided at this point). Mainly for a few reasons. The primary one being cost (twice the lifestyle, half the price), but also tax minimisation reasons. I would give up residency in my home country (Canada), which means I need to sever ties, and stay out of Canada for more than 6 months of the year. The plan is to reside in Panama/Uruguay (where my dollar goes much further) for the winter season, and then return to "visit" Canada in the summer months. My significant other and myself have been working on all the details of the snowbird details. We would basically rent while in Canada, and look to own, while in Panama/Uruguay, and renting out that residence while in Canada.
We both have no debt, and no kids. Based on our budget, and multiple travels to both Panama, and Uruguay, we are quite confident that we can both live fairly well off of $5000 USD per month. If we need to splurge and go over this, we can, however we would prever to continue to compound a good portion of our portfolio and build towards the purchase of a permanant residence down south.
This is the "quick n dirty" version of this. I know its not what the average joe looks to do at 32 years old, but we are very seriously considering this life and lifestyle change. I would like to hear any feed back, constructive criticsm, and more importantly, if there are any others who currently live a simliar lifestyle?
In my view the COMBINATION of a few things makes this very doable.
1. A solid portfolio I am happy with.
2. The the ability to live a much CHEAPER lifestyle in Panama or Uruguay (we have estimaget we can live for nearly half the cost.
3. The reduction of taxes (possibly complete ilimination of them, depending where we relocate to), which further increases #2
4. The ability to continually compound our portfolio over time.
I currently have approxamately $325K USD in my total portfolio, which generates on average $10,000 - $40,000 NET per month. Sometimes more, very rarely less. The portfolio is comprised almost 100% of alternative investments. The portfolio is very nicely diversified, and I am happy with where all my funds are parked for the long-term, but also have contingency plans in place if performance starts to suffer. I constantly scout out new opportunities for further diversification (i will never retire from this).
To complete this plan, I am planning on making the transition to move to either Panama, or Uruguay (still undecided at this point). Mainly for a few reasons. The primary one being cost (twice the lifestyle, half the price), but also tax minimisation reasons. I would give up residency in my home country (Canada), which means I need to sever ties, and stay out of Canada for more than 6 months of the year. The plan is to reside in Panama/Uruguay (where my dollar goes much further) for the winter season, and then return to "visit" Canada in the summer months. My significant other and myself have been working on all the details of the snowbird details. We would basically rent while in Canada, and look to own, while in Panama/Uruguay, and renting out that residence while in Canada.
We both have no debt, and no kids. Based on our budget, and multiple travels to both Panama, and Uruguay, we are quite confident that we can both live fairly well off of $5000 USD per month. If we need to splurge and go over this, we can, however we would prever to continue to compound a good portion of our portfolio and build towards the purchase of a permanant residence down south.
This is the "quick n dirty" version of this. I know its not what the average joe looks to do at 32 years old, but we are very seriously considering this life and lifestyle change. I would like to hear any feed back, constructive criticsm, and more importantly, if there are any others who currently live a simliar lifestyle?
In my view the COMBINATION of a few things makes this very doable.
1. A solid portfolio I am happy with.
2. The the ability to live a much CHEAPER lifestyle in Panama or Uruguay (we have estimaget we can live for nearly half the cost.
3. The reduction of taxes (possibly complete ilimination of them, depending where we relocate to), which further increases #2
4. The ability to continually compound our portfolio over time.