Stealth Wealth FTW

[RetireJapan]

My wife's accountant dropped by today. He's a nice guy, so I asked him some questions about what happens with unemployment insurance, etc. as my contract will end in March 2022 and will not be renewed, as per the latest email from my boss

After he answered them, he seemed worried so started giving me advice: my wife only pays into kokumin nenkin, so she'll only get around 70,000 yen a month in retirement. I should try to get another job quickly, otherwise we'll run into financial difficulties. Perhaps I could get a job as an ALT or something? I told him I was planning to freelance and sponge off my wife after my unemployment runs out

The guy has no idea about our financial situation. I guess it's easy to assume we don't have much: I dress kind of scruffy, my wife is a normal small business owner, we drive old second-hand cars etc.

But we've been steadily putting some money away every month for years. Millionaire next door style.

[Ax6isB]

My wife's accountant dropped by today. He's a nice guy, so I asked him some questions about what happens with unemployment insurance, etc. as my contract will end in March 2022 and will not be renewed, as per the latest email from my boss

After he answered them, he seemed worried so started giving me advice: my wife only pays into kokumin nenkin, so she'll only get around 70,000 yen a month in retirement. I should try to get another job quickly, otherwise we'll run into financial difficulties. Perhaps I could get a job as an ALT or something? I told him I was planning to freelance and sponge off my wife after my unemployment runs out

The guy has no idea about our financial situation. I guess it's easy to assume we don't have much: I dress kind of scruffy, my wife is a normal small business owner, we drive old second-hand cars etc.

But we've been steadily putting some money away every month for years. Millionaire next door style.

Scruffy but not wearing a hoodie like Zuckerberg I suppose .

[RetireJapan]

I have three identical hoodies that I basically wear year round when I am not in a shirt and tie for class or a meeting.

OMG, I have gone full Zuck. You never go full Zuck.

[adamu]

Just need to add a like button to posts now

[N00bster]

Just need to add a like button to posts now

My thoughts exactly!

[Jansen]

I'm surprised that your accountant doesn't know of your financial situation. While mine doesn't know the current value of my portfolio, he at the very least knows what's in it as well as how much my business is making.

[RetireJapan]

I'm surprised that your accountant doesn't know of your financial situation. While mine doesn't know the current value of my portfolio, he at the very least knows what's in it as well as how much my business is making.

He just deals with my wife's business. All her investments are either in tax-free accounts or tax-deducting accounts, so no tax paperwork.

And he has never dealt with my accounts beyond me asking him dumb questions

[FIRE-Rookie]

Lesson learned:
Acquire 3 hoodies for retirement!

[jcc]

It's always fun to think how random people are a lot more or less wealthy than they may seem.

It's also interesting how real estate peoples attitude seems to change once they find out your income. But they're also so confused about why you don't budget higher with a high income and even more confused when you talk about partially retiring before 50...

I've talked with a couple financial planners here and they've been next to useless since they seem to only be able to work with the template of "when are you going to have kids, what kind of education would you like them to have, and how do you expect your income to grow until reaching retirement at 65/70"

[RetireJapan]

I've talked with a couple financial planners here and they've been next to useless since they seem to only be able to work with the template of "when are you going to have kids, what kind of education would you like them to have, and how do you expect your income to grow until reaching retirement at 65/70"

That was my experience: https://www.retirejapan.com/blog/talkin ... -in-japan/

They were puzzled as to why we might not want to spend down our savings/investments until we were eligible for nenkin, then live off that