How much to retire?

[froggy]

Ok,Ok,, I want to retire in bali, I dont like a/c, I only eat rice and fish that I catch for myself bla,bla.... As I said earlier in this post- go visit and see for yourself,, you may find things different than what you thought, or where you live now,,, Like way different---there is no way in hell I could live in a traditional bali style house,, you may be able to,, great,, your rent just went way down...there are alot of things you dont see till you get there..like how much booze you really drink 8) if you really want to break the visa rules, hell why even bother to get a visa-- boat yourself in--I was never asked for my passport by the police while there, just a drivers license, and then it cost me a few bucks to go down the road. bet you could live out the rest of your life without a visa there, just have to find the right landlord,, etc not trying to imply anyone should do anything wrong, but theres alot of rule bending there, which I like, We plan on visiting bali,, but dont think we will move back,mabey when i get older and develope a fetish for martinies, but damn the heat sucks.....good,bad,good,bad everywhere has em both......go figure it out for yourself what you can live on- worst case scenario-- you have a trip under your belt, a few more friends in life, and you cant put a price on that.... Frog

 

[Jimbo]

Roy

Taxes are income tax which you have to pay on income coming in to Indonesia. The definition comes from the laws of indonesia. You are right about the rules that apply to the ritirement age as do these conditions.

Retire at 50 fine but the only way you can then stay in Bali is by present rules that do not allow you to do so (retire that is) or stay more than 6 months. Or is it a work visa or sisial budaya visa or continuous trips in and out visa. All of which will cost more than the $6,000 mentioned.All the rest of my message about doing the staying without the rules applies.

The cost comes from all of the things I mentioned starting with the income, tax, house, insurance and maid all of which I have tried to allow for on top of the $18, 000.

I have not said you cannot LIVE on 6 grand but you sure as hell cannot retire (meaning to stay there on it)

I think now I will close my part in the discussion. If he wants to do it he will but I am willing to bet he wont

 

[tintin]

I bet you Ed Nabors could retire in Bali with no problem... :lol: :lol: :lol:

DALTON, Georgia, March 7, 2007 (AP). A Georgia truck driver stepped forward Wednesday to claim half of a $390 million jackpot, the richest lottery prize in U.S. history.

"I'm still numb," said Ed Nabors of Rocky Face, Georgia, about 90 miles north of Atlanta. He elected to take home his winnings in a lump sum instead of annual installments, and will get $116.5 million before taxes.

So, he now has to pay about $55. million in taxes to the US Government, and another $5. to the State of Georgia, the poor man. :cry: But that still should leave him plenty for many nasi goreng and martinis at Nuri's

 

[Roy]

And for the record Daniel, I posted my reply there as well.


Jimbo, just to review a little, in the post that initiated this string, gongchime asked a simple question, clarified by his statement of being “relatively frugal.” The simple question was, can one retire to Bali with only $100.000? The simple answer is “yes” but a larger nest egg is preferable if one wants to “retire well” in relative affluence or peace of mind.

I can easily see that for some it would be better to try out “retirement” in Bali and eventually find themselves not making it, than to never achieve some preconceived (and possibly over stated) financial objective, and never retiring to Bali. The worst that could happen is that it’s time to go back to work....but the 100 thousand in principle is still intact....so what IS lost? Nothing.... and everything is gained...living on Bali for some length of time, the lessons, relationships and experiences gained here.

With all due respect Jimbo, I don’t think you are in a very good position to comment with any derived first hand knowledge about just how cheaply one can live here...in Bali...if that is necessary. It all depends on what one requires, and what one wants.

 

[drbruce]

Well, this topic is heavily on my mind as I've passed the retirement visa age, and I am just about at that place where teaching is getting tiring (not exactly teaching but all the little extras that go along with it like faculty meetings, etc, school politics, etc). I've gone over and over the numbers, but you can never tell what's going to happen.

Example, I was hit by a rock in the ankle last December. I developed several cysts where I was hit. I went to Bali for an operation to remove them last month. The surgeon only remove some of the problem. Two weeks later I was back again for another operation. This time I hope that he did the job right. Total costs were around 13,000,000, not including airfare from Sumbawa. Something minor turned into a real problem. That's one of those things that you have to be prepared for.

Leaving that aside, I'm budgeting on around 240,000,000 per year which covers six people. After two years of working to figure out this number, I'm fairly sure that that should be more than sufficient if I can get over my attachment to high tech toys and my wife's attachment to shoes.

We'll have about half the money in US dollars and the rest in rupiah.

I found Sanurian's comments about the retirement visa interesting because I would like to take that route, but do not want to put myself in the position of having to pay income taxes (which I have been paying since 1989 with the exception of four years in Pakistan - my wife showed no income so she didn't pay any during those years). After all these years on a KITAS, I'll just have to see what I can get when I retire next year.

Have to run and get the stitches taken out. Have another wonderful day in paradise y'all.

 

[Jimbo]

With all due respect Jimbo, I don’t think you are in a very good position to comment with any derived first hand knowledge about just how cheaply one can live here...in Bali...

Typical Roy. You have a bit of knowledge about one area of Indonesia. I have lived worked and travelled from Sabang ke Merauke for 24 years and have been investigating retireing for several years now but of course you know best. You are a tiresome man at times with this isistance of yours.

The Indonesia Law applies to all 13600 island including Bali and gives very clear guidelines on what you have to have to retire there. I have no more patience to continue a discussion with you. if you cannot understand the logic just do not bother answering.

 

[Roy]

No need to take this so personally Jimbo. It’s only common sense. I surely would defer to you in explaining the costs of living, in Saudi Arabia, so why don’t you cut me some slack and recognized that I am in a far better position than you to offer details on what things cost in Bali....now and today! Information gathered from 24 years ago has no value to discussing current economic realities.

You are the one who presented the “definitive answer” (your words) as the needed amount of yearly income being $25,000 a year. That is far more than needed for a single person who describes himself as “relatively frugal.”

Since the original poster, gongchime, intends to “retire” here at age fifty, the retirement visa would not apply, nor would it be an option until age 55 and unless he opted for the retirement visa. Taxes would not apply either (if on a social/cultural visa). Jimbo, take it easy!

 

[froggy]

What do you think of all this great wealth of new information BongTime? Anything you like? Havnt heard from you on this subject for awhile....as you can see it varies greatly..... Frog

 

[froggy]

Oh by the way, I liked the cloud and moon over the frog chorus,,, is that you playing?

 

[Jimbo]

Roy

My information is not based on 24 years ago but the last 24 years including the prices of everything even yesterday. I talk to all my relatives via Skype daily.

As for cutting slack I have always done so for you. The next time you cut any slack for anybody........will be the first. If I am losing patience it will be the first time I have done so even with you.

Taking it easy would mean never having to discuss anything with you

 

[Roy]

Fine Jimbo, but when the day is done, you still have no idea of the price of rice in Bali....and that is all I am saying.

 

[FreoGirl]

And do you Roy? Has your wife paid more than 70k for 25kg you quoted in Feb 07 after all? I suspect she has.

 

[Roy]

"And do you Roy?"

Ya, I sure do. She just bought a 5 kilo bag of prime beras putih Bali today for 35K...7,000 a kilo.

There's beras, and then there is BERAS! Why are you asking anyway? Are you into rice futures commodity trading, or are you trying to trip me up?

Trust me, you haven't a chance of tripping me up! So, in the future, you might avoid childish questions, and the embracement that follows.

You can rely, quite assuredly, that I know the price of everything very well that comes into our home.

Basic rice back in February, as we buy for our workers still hovers around 3 ti 4 thousand a kilo. Any more ?s about beras?

 

[Bert Vierstra]

Forget it Freogirl...

You know, I know and they know.

 

[froggy]

Roy, My wifes sitting here laughing.. she's been shopping with your wife,, and she says you have no idea what your wife is really spending!!!! Dont get upset my friend, as most wifes all over the world tend to do this.. ha :lol:

 

[Guest]

My wifes sitting here laughing

hehe mine too... today has been a very amusing day on the Bali Expat Forum :lol: :lol: :lol:

 

[JAMIE]

Too funny...

 

[dahlia]

Pak Sinti and his wife returned to Bali 6 months ago after more than 5 years teaching Bali Gamelan in University of Washington here in Seattle.
Ni Luh one of my friend told us that Ibu Sinti in her email was complaining about prices in Bali; how expensive things are in Bali (Denpasar) nowdays.

I went to Bali November last years, things ain't cheap anymore.

 

[manc in oz]

Re: RE: How much to retire?

Taking it easy would mean never having to discuss anything with you

Now you've got it Jimbo. :lol:

 

[Roy]

That’s a funny comment Frog, especially since Robin NEVER bought the same kinds of food that Eri buys. Since I am responsible for every rupiah that goes into our accounts, you can rest assured I am well up to speed on what goes out and for what.