RetireJapan

jcarrera01 wrote: ↑Thu Jul 07, 2022 1:32 pm I’m maxim out my ideco (68000 per month) and Tnisa but I still think that’s not enough to achieve FIRE. So the rest has to be invested on a taxable account, where I will need to pay 20.315% taxes every time you withdraw the 4%. The interesting thing is that none of the FIRE books I read in Japanese about this topic mention about these taxes when doing the calculation….

RetireJapan wrote: ↑Thu Jul 07, 2022 2:49 pm

jcarrera01 wrote: ↑Thu Jul 07, 2022 1:32 pm I’m maxim out my ideco (68000 per month) and Tnisa but I still think that’s not enough to achieve FIRE. So the rest has to be invested on a taxable account, where I will need to pay 20.315% taxes every time you withdraw the 4%. The interesting thing is that none of the FIRE books I read in Japanese about this topic mention about these taxes when doing the calculation….

Don't forget you are only paying tax on the *gain*. So it won't be quite as bad as an extra 1% on your SWR.

jcarrera01 wrote: ↑Fri Jul 08, 2022 2:08 am Am I wrong or something I'm missing?

Roger Van Zant wrote: ↑Fri May 20, 2022 7:27 am Will pay off my mortgage aged 57 or 58 (43 now).

I pay Class 3 NI contributions every month. Should have 33 out of 35 years by the time I reach retirement, maybe even a full 35 years.
I of course pay into the Japanese pension. Should have 35 or so years in that by the time I retire.

I max out my tsumitate-NISA each month (100% eMaxis Slim All Country)
I pay 12,000 per month (maximum for me) into an iDeCo (100% eMaxis Slim All Country)
I pay 10,000 per month into my company's DB scheme (awful interest rate, but I am stuck in it now, so just suck it up. Basically J-govt. bonds)

I am single, and have no plans to get married or have kids.
I think the two pensions above should bring in about 180,000 ~ 200,000 yen per month?
I can easily live on that once the mortgage is paid off.

Between the ages of 57/58 to retirement age, I plan to invest the money I would have been paying into my mortgage (about 65,000 per month).

All in all, should have enough to be comfortable in retirement, though in no way rich.

printingmoney wrote: ↑Mon Nov 21, 2022 3:11 pm

Roger Van Zant wrote: ↑Fri May 20, 2022 7:27 am Will pay off my mortgage aged 57 or 58 (43 now).

I pay Class 3 NI contributions every month. Should have 33 out of 35 years by the time I reach retirement, maybe even a full 35 years.
I of course pay into the Japanese pension. Should have 35 or so years in that by the time I retire.

I max out my tsumitate-NISA each month (100% eMaxis Slim All Country)
I pay 12,000 per month (maximum for me) into an iDeCo (100% eMaxis Slim All Country)
I pay 10,000 per month into my company's DB scheme (awful interest rate, but I am stuck in it now, so just suck it up. Basically J-govt. bonds)

I am single, and have no plans to get married or have kids.
I think the two pensions above should bring in about 180,000 ~ 200,000 yen per month?
I can easily live on that once the mortgage is paid off.

Between the ages of 57/58 to retirement age, I plan to invest the money I would have been paying into my mortgage (about 65,000 per month).

All in all, should have enough to be comfortable in retirement, though in no way rich.

Sorry for going Off topic and you can choose to not answer this. But just wondering why you chose to not marry or have kids. I’m in my 20’s and still thinking about these things so very sorry if this by any chance sounds rude. Its rare to see people who choose to live life not by society’s accepted norms so I thought it would be interesting to hear from you and if at any point(or even now) you had second thoughts on it.

Roger Van Zant wrote: ↑Tue Nov 22, 2022 3:01 am

printingmoney wrote: ↑Mon Nov 21, 2022 3:11 pm

Roger Van Zant wrote: ↑Fri May 20, 2022 7:27 am Will pay off my mortgage aged 57 or 58 (43 now).

I pay Class 3 NI contributions every month. Should have 33 out of 35 years by the time I reach retirement, maybe even a full 35 years.
I of course pay into the Japanese pension. Should have 35 or so years in that by the time I retire.

I max out my tsumitate-NISA each month (100% eMaxis Slim All Country)
I pay 12,000 per month (maximum for me) into an iDeCo (100% eMaxis Slim All Country)
I pay 10,000 per month into my company's DB scheme (awful interest rate, but I am stuck in it now, so just suck it up. Basically J-govt. bonds)

I am single, and have no plans to get married or have kids.
I think the two pensions above should bring in about 180,000 ~ 200,000 yen per month?
I can easily live on that once the mortgage is paid off.

Between the ages of 57/58 to retirement age, I plan to invest the money I would have been paying into my mortgage (about 65,000 per month).

All in all, should have enough to be comfortable in retirement, though in no way rich.

Sorry for going Off topic and you can choose to not answer this. But just wondering why you chose to not marry or have kids. I’m in my 20’s and still thinking about these things so very sorry if this by any chance sounds rude. Its rare to see people who choose to live life not by society’s accepted norms so I thought it would be interesting to hear from you and if at any point(or even now) you had second thoughts on it.

Not rude at all.
A number of factors:

1) 99% of the women around me are Japanese who do not understand English. I do not speak Japanese fluently, and never will. Building a long-term relationship can be hard enough when two fluent speakers get together, let alone when neither of them are fluent in the other's language. 99% of married friends here in Japan who separate/divorce do so ultimately because of a lack of communication and the corresponding lack of understanding about Japanese cultural norms. I do not want to go down this route. I have dated Japanese women before, even long term, but once the physical side of the relationship dwindles (inevitably), we had almost nothing in common to talk about, other than vapid celebrity crap or other such simple topics. Some people are happy only ever having superficial or purely functional "conversations" (What shall we have for dinner this evening?"), but I am not.

2) I earn enough to have a semi-comfortable life....for myself. I will never earn enough to be able to support a wife and kids. People will say, ah, but your wife could work! Sure, 150,000 yen per month for a full-time office job around here. And if working full-time, paying for a child minder would be necessary. 100,000 yen per month for a part-time job? Pfft, what's the point? Not being able to be a good provider for my wife/kids would cause me immense stress. I am not good with stress.

3) The older I get, the more I enjoy doing my own thing! Some of my friends here are so under the thumb, it is crazy. No, thanks!

4) I try some dating apps now and then, but EVERY SINGLE WOMAN there wants to get married and have kids. What's the point in leading them on? Nah. I'll pass.

To be honest, I don't think about it too much. Sometimes I think it would be nice to have a girlfriend, but mostly I am pretty content just doing my thing! I truly believe loneliness is a state of mind.

printingmoney wrote: ↑Fri Nov 25, 2022 4:15 pm

Roger Van Zant wrote: ↑Tue Nov 22, 2022 3:01 am

printingmoney wrote: ↑Mon Nov 21, 2022 3:11 pm

Sorry for going Off topic and you can choose to not answer this. But just wondering why you chose to not marry or have kids. I’m in my 20’s and still thinking about these things so very sorry if this by any chance sounds rude. Its rare to see people who choose to live life not by society’s accepted norms so I thought it would be interesting to hear from you and if at any point(or even now) you had second thoughts on it.

Not rude at all.
A number of factors:

1) 99% of the women around me are Japanese who do not understand English. I do not speak Japanese fluently, and never will. Building a long-term relationship can be hard enough when two fluent speakers get together, let alone when neither of them are fluent in the other's language. 99% of married friends here in Japan who separate/divorce do so ultimately because of a lack of communication and the corresponding lack of understanding about Japanese cultural norms. I do not want to go down this route. I have dated Japanese women before, even long term, but once the physical side of the relationship dwindles (inevitably), we had almost nothing in common to talk about, other than vapid celebrity crap or other such simple topics. Some people are happy only ever having superficial or purely functional "conversations" (What shall we have for dinner this evening?"), but I am not.

2) I earn enough to have a semi-comfortable life....for myself. I will never earn enough to be able to support a wife and kids. People will say, ah, but your wife could work! Sure, 150,000 yen per month for a full-time office job around here. And if working full-time, paying for a child minder would be necessary. 100,000 yen per month for a part-time job? Pfft, what's the point? Not being able to be a good provider for my wife/kids would cause me immense stress. I am not good with stress.

3) The older I get, the more I enjoy doing my own thing! Some of my friends here are so under the thumb, it is crazy. No, thanks!

4) I try some dating apps now and then, but EVERY SINGLE WOMAN there wants to get married and have kids. What's the point in leading them on? Nah. I'll pass.

To be honest, I don't think about it too much. Sometimes I think it would be nice to have a girlfriend, but mostly I am pretty content just doing my thing! I truly believe loneliness is a state of mind.

Thanks for the response! I definitely understand why you chose the path less traveled and happy to see it working for you. Language gap is a huge point and so is losing ones personal space. Well let’s see what option i end up choosing!