RetireJapan

No real changes.
Salary, work not affected.
Spent less and invested more, so net worth has gone up a little.

At the risk of sounding boorish and insensitive to those negatively affected, to be honest, the COVID era turned out great for me personally. Work-life balance has gone way up, unimaginably so for working at a traditional Japanese company. Salary initially went down about 15% the first year, but then we've had record profits and salary is up about 40% on pre-COVID times, while actual hours worked is down probably 40% or so. Aside from the insidious inflation effects, expenses are down as well just because there's not nearly as much going out for beers/dinners. Lots of luck for sure, but overall it's been pretty good.

From start of corona up 56% mostly because of aggressive buying during dips. Sold off all real estate in US last year before moving to Japan, stupid lucky timing. Trying out Barista FIRE this year (working 15 hours a week), see if projections match reality. So far inflation in Tokyo as far as I can see hasn't really been much of a factor to my projected 3% annual inflation expectation (at least for my lifestyle), could be the rose colored glasses of the weak yen though...will see how the rest of this year plays out.

Interesting thread; interesting range of answers.

I'm unsure how to vote. 

In 2019, I had to make a call between (1) freelance writing + part-time teaching and (2) full-time teaching. I chose (2) because I had a baby on the way (to join her 1yo brother), a wife who was uncertain about her capacity to work with such young children, and the pandemic creating uncertainty for my freelance and part-time work.

Full-time teaching was good for stability of income/benefits (not necessarily for size of income), but bad for work-life balance (but then, freelance + childcare might have been difficult to manage). A third child followed in 2022. With three children born in 3.5 years, life was always going to be interesting for a while. Even without the pandemic. Childcare leave helped both my wife and I stay afloat physically and mentally, and the childcare leave allowance was a good deal financially too.

But something had to give. We're outgrowing our apartment. My wife is unsure of her capacity for full-time work in the medium term. I'm unsure of my capacity to support my whole family in our current location, nor my ongoing appetite for the type of work/conditions I signed up for in 2019. We signed a house contract in the countryside with plans for a mixed income stream and plenty of fresh air; lower overheads and higher possibility of overall happiness. However, the purchase fell through. 

Instead, we're off to the UAE in the summer, as I'm taking on a 2yr teaching contract. My salary will support my family, irrespective of whether my wife pursues work. And it should be an interesting family adventure. After 2yrs, Japan, the UK, extension, or indeed an adventure elsewhere are all possibilities, with perhaps a UK stint being the frontrunner, to give the children a taste of both 'home' countries while they are still young. We'll be back in Japan at some stage, we think. It's still the most likely long-term landing spot, though who knows how lives and thoughts will develop.

I am earning a quite a bit less than before the pandemic, but that has largely been by choice and my NW has continued to grow. Before the pandemic we had made a decision to start cutting back on work as a way to ease slowly into retirement. That's carried on and so we earn less but have much more time and are generally where we want to be. Had a wee health issue recently as well which has only made us eager to cut back more.

During Covid, international business trips stopped completely for me (like most people). So, I enrolled into MBA and completed it in 2022. MBA (and subsequently finding this forum) was the impetus for me to start thinking and acting on my investments. So, obviously the net worth has risen a lot; about 30% in a year.
Also, the MBA (+ some other factors) led to a new job from this year with 70% increment on gross salary and good DC plans.

So, financially I am doing better after Corona. But I am not sure if it can be attributed directly to the pandemic or not.

Looking at the immediate and mid-term future, I am concerned about unabating inflation in Japan, however small it's magnitude is compared to other parts of the world. Also, found out that wife is pregnant recently. So, we are slightly concerned about finding a new place, moving, settling and all the uncertainties that it brings.

kuma wrote: ↑Thu Mar 23, 2023 12:58 am ......

Instead, we're off to the UAE in the summer, as I'm taking on a 2yr teaching contract....
We'll be back in Japan at some stage, we think. It's still the most likely long-term landing spot, though who knows how lives and thoughts will develop....

Do share what you did with your Japan-side investments, bank account and related stuff.

goran wrote: ↑Thu Jul 20, 2023 6:26 am

kuma wrote: ↑Thu Mar 23, 2023 12:58 am ......

Instead, we're off to the UAE in the summer, as I'm taking on a 2yr teaching contract....
We'll be back in Japan at some stage, we think. It's still the most likely long-term landing spot, though who knows how lives and thoughts will develop....

Do share what you did with your Japan-side investments, bank account and related stuff.

Haven’t moved yet, and plenty left to wrangle with.

In terms of Japan stuff, a summary below:

Banks
My main bank’s policy is (luckily) that those with a valid residence card are permitted to retain an account, even if moving abroad. 

Investments
Almost all are overseas anyway. Some changes made and other changes coming, eg I opted against an IB account while Japan-resident, but will go down the IB route as soon as I have my Emirates ID. 

Ideco
Will inform provider of move; cease contributions when become ineligible (great that bank account stays open); elect not to take the lump sum withdrawal (eligible via < 5yrs contributions, but no-brainer to keep)

Pension
I’m winding up my time in Japan as a short stint as dependent spouse, so no need to deregister from kokumin nenkin or similar.
 
Wife’s pension etc
Contribute to kokumin nenkin + fuka nenkin from abroad. Ideco too if she is ready to wrangle with paperwork, which she may not be, despite the benefits, in which case I’d respect that.

Kids’ stuff
We elected not to go for JNISAs due to the possibility of a move from Japan and the associated hassle of account closures; money invested overseas instead. 

General bureaucracy

• 1 child’s J passport renewed (Japanese passports wiki article now live)

• Own UK passport renewed (UK wiki updated)

• Re-entry permit: I plan to apply as close to departure as possible, as summer hol expiry date could be useful (initial wiki article produced)

• Moving out notification

• Deregistration of requirement for hoikuen places

• Deregistration of child welfare payments

• Etc.

kuma wrote: ↑Mon Jul 24, 2023 5:35 am

goran wrote: ↑Thu Jul 20, 2023 6:26 am

kuma wrote: ↑Thu Mar 23, 2023 12:58 am ......

Instead, we're off to the UAE in the summer, as I'm taking on a 2yr teaching contract....
We'll be back in Japan at some stage, we think. It's still the most likely long-term landing spot, though who knows how lives and thoughts will develop....

Do share what you did with your Japan-side investments, bank account and related stuff.

Haven’t moved yet, and plenty left to wrangle with.

In terms of Japan stuff, a summary below:

Banks
My main bank’s policy is (luckily) that those with a valid residence card are permitted to retain an account, even if moving abroad. 

Investments
Almost all are overseas anyway. Some changes made and other changes coming, eg I opted against an IB account while Japan-resident, but will go down the IB route as soon as I have my Emirates ID. 

Ideco
Will inform provider of move; cease contributions when become ineligible (great that bank account stays open); elect not to take the lump sum withdrawal (eligible via < 5yrs contributions, but no-brainer to keep)

Pension
I’m winding up my time in Japan as a short stint as dependent spouse, so no need to deregister from kokumin nenkin or similar.
 
Wife’s pension etc
Contribute to kokumin nenkin + fuka nenkin from abroad. Ideco too if she is ready to wrangle with paperwork, which she may not be, despite the benefits, in which case I’d respect that.

Kids’ stuff
We elected not to go for JNISAs due to the possibility of a move from Japan and the associated hassle of account closures; money invested overseas instead. 

General bureaucracy
.......

Going off on a tangent here, and may be I should be asking this in your moving out thread, but here it goes.

Please share the name of the bank, if you don't mind.
Also, what about NISA? Did you have it before? If yes, did you sell everything?

And finally, when you say invested overseas, do you mean you were/are using a securities company/broker from abroad (which is not IB) or that all the assets (index funds, stocks, etc.) that you own were/are non-Japan based?

goran wrote: ↑Mon Jul 24, 2023 6:11 am Please share the name of the bank, if you don't mind.

Hokkaido Bank

goran wrote: ↑Mon Jul 24, 2023 6:11 am Also, what about NISA? Did you have it before? If yes, did you sell everything?

NISA: don't have. Would have mentioned in my round up if I did.

goran wrote: ↑Mon Jul 24, 2023 6:11 am And finally, when you say invested overseas, do you mean you were/are using a securities company/broker from abroad (which is not IB) or that all the assets (index funds, stocks, etc.) that you own were/are non-Japan based?

I mean that I am using brokers etc abroad.