Re: Time to coast/barista FIRE - things to prepare?
Posted: Sun Aug 21, 2022 1:28 pm
Err, tottery means old and dithery doesn't it? I don't think you want that
RetireJapan
Personal Finance for Residents of Japan
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Time to coast/barista FIRE - things to prepare?
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Re: Time to coast/barista FIRE - things to prepare?
Posted: Sun Aug 21, 2022 2:24 pm
Yep - completely agree with the difficulty in saying no, and so far natural attrition hasn't really been working! But we have to do it sometime or it will mean working forever!northSaver wrote: ↑Sun Aug 21, 2022 1:27 pm I'm in the same situation as you guys... 50s... probably have enough invested to never have to work again (if the pension systems don't fail us)... run a small English school with my wife at home. The problem is we have more students now than ever before and it will take forever to lose them through natural attrition. There are always younger siblings of current students wanting to join each year, and so far it's been hard to refuse them. Also my wife is a bit younger than me and definitely more Japanese, so isn't too comfortable with the idea of turning down students and retiring early.
Probably the next goal for me is to reduce teaching from 5 to 4 days a week, and try to take more time off in non-holiday times so I can travel abroad more comfortably (my last trip to the UK this summer was crazy from start to finish).
It's a nice problem to have though. Having too much income is always better than too little, so I probably shouldn't complain much
P.S to me 'doddery' would be old and dithery! 'Tottery' sounds like derivative of 'totty' which had quite a different meaning where I grew up!
Re: Time to coast/barista FIRE - things to prepare?
Posted: Sun Aug 21, 2022 2:47 pm
We employ teachers, so the challenge is creating systems so that we're not needed (bit of a work in progress). But as of this month I am down to two teaching hours a week, plus a couple of days of admin/working on the business.northSaver wrote: ↑Sun Aug 21, 2022 1:27 pm Probably the next goal for me is to reduce teaching from 5 to 4 days a week, and try to take more time off in non-holiday times so I can travel abroad more comfortably
More options that owner-operator, but a lot more headaches too
Re: Time to coast/barista FIRE - things to prepare?
Posted: Sun Aug 21, 2022 2:47 pm
That is also where my mind wentgoodandbadjapan wrote: ↑Sun Aug 21, 2022 2:24 pm P.S to me 'doddery' would be old and dithery! 'Tottery' sounds like derivative of 'totty' which had quite a different meaning where I grew up!
Re: Time to coast/barista FIRE - things to prepare?
Posted: Mon Aug 22, 2022 3:42 am
This is an important question. Teaching is the most obvious, and quite flexible as well, but I too would like to hear suggestions other than teaching. I'm guessing not many of us want to be parking lot attendants in our old age.goodandbadjapan wrote: ↑Sun Aug 21, 2022 9:52 am So, I suppose my question is: If you were going to coast fire, and you simply wanted money to cover expenses and visa was not an issue, what job would you do in Japan?
Re: Time to coast/barista FIRE - things to prepare?
Posted: Mon Aug 22, 2022 4:27 am
It's just going to depend on your skills though, surely? Like for me, the most profitable/interesting work is going to be coaching or consulting, either in education or personal finance, or content creation (books, videos, courses).
A computer programmer could freelance or consult. I talked to someone today who used to work in nuclear energy and now consults on renewable energy for companies producing the energy and looking to buy green energy.
Re: Time to coast/barista FIRE - things to prepare?
Posted: Mon Aug 22, 2022 7:03 am
Of course, any specific skills will of course direct your future direction, that's self-evident enough. Not to overgeneralize, but I've often found that many of the foreigners in Japan fall into the category of "broad generalist/specialist in nothing". Teaching or translating are usually the two default side-gig options, but just wondering if there are any Japan-specific and interesting/unique ideas out there.RetireJapan wrote: ↑Mon Aug 22, 2022 4:27 am It's just going to depend on your skills though, surely?
Re: Time to coast/barista FIRE - things to prepare?
Posted: Mon Aug 22, 2022 8:45 am
Hmmm, other than *any job they have the skills and language ability to do*, I'm not sure there is much that is Japan specific.mighty58 wrote: ↑Mon Aug 22, 2022 7:03 am Not to overgeneralize, but I've often found that many of the foreigners in Japan fall into the category of "broad generalist/specialist in nothing". Teaching or translating are usually the two default side-gig options, but just wondering if there are any Japan-specific and interesting/unique ideas out there.
Maybe something to do with incoming tourism (if it ever resumes?).
I have been asked to do a jiu-jitsu class in English, so I guess teach/do some normal activity, but in English/another language. I guess that is borderline teaching too though.
Re: Time to coast/barista FIRE - things to prepare?
Posted: Mon Aug 22, 2022 8:52 am
Gosh, a six-page thread that I haven't commented on yet?
Here you go...
¥35M is nowhere near enough--you should have 3-5 times that much at your age to even consider this. You've tendered your resignation, so live with that--but you should be looking for a new job in your career field, like right now, if not last week.
The "barista" angle is extremely weak. From scanning thru this, you have not thought this thru before submitting your resignation (and that's a huge understatement). You think you've made it, but you haven't. People responding to you here are being too polite. If you were my son/daughter, or son/daughter-in-law and talking about this, I'd say you were nuts.
And, I tried different ways to write more here, deleted it, tried again, and have given up.
You're not ready for what you're envisioning.
Here you go...
¥35M is nowhere near enough--you should have 3-5 times that much at your age to even consider this. You've tendered your resignation, so live with that--but you should be looking for a new job in your career field, like right now, if not last week.
The "barista" angle is extremely weak. From scanning thru this, you have not thought this thru before submitting your resignation (and that's a huge understatement). You think you've made it, but you haven't. People responding to you here are being too polite. If you were my son/daughter, or son/daughter-in-law and talking about this, I'd say you were nuts.
And, I tried different ways to write more here, deleted it, tried again, and have given up.
You're not ready for what you're envisioning.
Re: Time to coast/barista FIRE - things to prepare?
Posted: Mon Aug 22, 2022 8:53 am
Also not Japan-specific, but modelling, wedding celebrants, factory work and TV gigs are roles many foreigners find work in.