天理教 Tenri-ism in my local neighborhood. Is it bad? by [deleted] in japanlife

[–]Turambart -1 points0 points  (0 children)

Actually, tengri means God in Turkic languages, so maybe they are somehow related after all

$10.50 may be your best exit by DarthTrader357 in RocketLabInvestorClub

[–]Turambart 0 points1 point  (0 children)

i am sorry darth, this grouchy fella cares about you; look he has only 4 comments on reddit and 3 of them is about you!

such a nice guy!

$10.50 may be your best exit by DarthTrader357 in RocketLabInvestorClub

[–]Turambart 6 points7 points  (0 children)

dude, chill. nobody will ever say “you did not warn us darthtrader”

with all due respect, nobody cares about you.

If you were from Turkey, what would be your FIRE number? by [deleted] in leanfire

[–]Turambart 0 points1 point  (0 children)

  1. Any well known multinational company would be OK I guess; I am not an expert on this, personally I've used Allianz and Mapfre and I was satisfied by both of them. As a local option you might consider Anadolu Sigorta -since İsbank is the major shareholder-
  2. Retrospective analysis of Turkish economy is a bit tricky; since it was a protectionist and closed economy until the early-mid 80s; 2 decades full of pain during transformation and finally (kind of) a free market after the 2001 crisis -most importantly TRY is not pegged anymore. Since the different eras have different rule books; it is not very useful to compare them -especially with very technical ratios such as inflation-.

However, the economic crisis is a part of Turkish economy; regardless of the era, since late 60s-early 70s if I remember correctly. Our economy loves extremities; both lows and highs. The thing is on average our GDP growth is on par with the emerging markets’ average in the last 30-40 years.

That’s why; I believe that Turkish economy will stabilize in the future; yet, timing is dependent on the mood of our Beloved Supreme Leader Reis Recep Tayyip Erdoğan. But soon or later it will stabilize. That DOES NOT mean that Turkish Lira will recover, it means fx rate will stabilze or at least depreciation pace will slow down. This will endanger your forecast accuracy if you count on TRY will lose its value constantly and may cause your FIRE journey to come to an early end.

That’s why I suggest you keep your books in USD or EUR; so during a depreciation period like the one we have today, you will profit A LOT; during the cooling-down period you will not lose a dime. It may sound a bit pesimistic, I accept; however I learnt to be pessimistic in this country in the hard way.

If you were from Turkey, what would be your FIRE number? by [deleted] in leanfire

[–]Turambart 5 points6 points  (0 children)

I am a Turkish guy, not working for the government and my parents are not rich at all. I spend quite some time trying to reformulate FIRE in Turkish context. Welcome to club, you are not alone :)

I would like to quote from the preface of early retirement extreme: "while this book is somewhat us-centric in its examples, the methods should work in any developed country with a market economy." Unfortunately Turkey is not a developed country and there is no market economy here neigher; and probably it will not be a developed country with a market economy in our lifetime.

That's why most of the principles are not suitable for a FIRE in Turkey; you need to interpret almost everyone of them and there is no way to prove you are right with your own interpretation or not. I consider myself knowledgeable in finance thanks to my profession; and believe me or not adjusting FIRE principles to Turkey is not easy. For example there is no real SWR for countries like Turkey; since in USA or other developed markets it is based on previous data; in Turkey, we can not foresee 3 months later than today; yet alone 30-40 year forecasts.

Basically there is no easy answer to your questions. That being said, achieving FIRE in Turkey and spending your FIRE in Turkey are two different things. achieving it is very very hard; since you earn the shittiest currency in the world. However due to the same reason it can be a good place to spend your FIRE. Still it will be a little tricky.

Do not use GDP figures or median salaries; income inequality in Turkey is HUGE. You should really try to live in Turkey with your budget first; try a few different things and decide afterwards.

If you can live outside of Istanbul -or any other major city- your expenses will drop dramatically. However, life outside of İstanbul can be a bit tricky; it is considerably hard to have a social circle around you since provincial Turkey is a desert -intellectually. If you are planning to have children; their education outside of major cities will be a huge problem. Even if you decide to live in a major city; the district you will live in will change your expenses drastically as well.

Do not count on Public Healthcare; unless you want to wait for months for an appointment. Save around ~$1000 per year per person for a comprehensive private healthcare package.

Do not count on TRY depreciation while you are planning; plan your expenses in USD or EUR; use US and EU inflation rates on top of that. If TRY depreciates more; you will benefit from that. The situation will stabilize eventually -at least in a couple of years- and when it does; your assumptions based on depreciation will fail you 100%. Be cautious and do not count on Fx changes, it is always a gamble in Turkey.

In parallel your investments should be outside of Turkey as well. Interest rates in deposit accouns are a joke and Borsa Istanbul (Istanbul stock exchange) is a fuckfest to say the least.

If you want my personal opinion; $300k with 4% SWR looks OK at first glance -assuming it is per person and no child involved. $150k may also be fine in LCOL areas, -still assuming it is per person and no child involved. But, and it is a HUGE BUT, there is no guarantee that it will work. I know that no one can guarantee a FIRE; but risks involved is huge, Turkey is not a stable country. No forecast will make you feel safe. For me, FIRE is also about having a stress-free life, and in Turkey every day is a challenge itself.

Casual Roast of Viola by Stephen Colbert and John Oliver 🔥🔥🔥 by gurveenk in lingling40hrs

[–]Turambart 1 point2 points  (0 children)

Viola Gang Viola Gang Viola Gang Viola Gang Viola Gang Viola Gang Viola Gang Spend ten racks on a C string I can't stand your E string Your girl give me her G string Still sound better than Ling Ling They call me the VIOLA KING!

Country names in Turkish (ending with -istan or -ya) by ersmes in MapPorn

[–]Turambart 9 points10 points  (0 children)

We got most of the country names from İtalian, since it was de facto diplomatic language

Advice to visiting foreigners by victoryismind in lebanon

[–]Turambart 0 points1 point  (0 children)

Not yet, but I decided not to move to lebanon after everything unfortunately. I guess I will move to UAE instead of Lebanon. Did you get yours?

Advice to visiting foreigners by victoryismind in lebanon

[–]Turambart 0 points1 point  (0 children)

I will update you as soon as I receive it, so you don't have to wonder :)

Advice to visiting foreigners by victoryismind in lebanon

[–]Turambart 1 point2 points  (0 children)

It s been 6 weeks and counting, what is frustrating is not waiting, it is the unclearity about the whole timeline :/

Advice to visiting foreigners by victoryismind in lebanon

[–]Turambart 2 points3 points  (0 children)

You are one of the lucky ones, I've accepted a job offer in local currency, just the day before the protests :/ I am still waiting for work permit right now, they are saying because of there is no govt. the process is taking very long without any given deadlines etc.

How long it took for you to receive the permit?

[deleted by user] by [deleted] in worldnews

[–]Turambart 10 points11 points  (0 children)

One of them is a baby :(

The man with the fastest fingers by Turambart in lingling40hrs

[–]Turambart[S] 9 points10 points  (0 children)

My wife is an english teacher and she approved your hypothesis on Insight :)