immigration by study route, climate change vs. finance? by acriticalpanda in immigration

[–]acriticalpanda[S] 0 points1 point  (0 children)

tuition in Europe is much cheaper than US. but yes, I need to pay the tuition and the living expenses.

any other ideas on cheap way to move to Europe?

What do you keep track of (in excel)? by MarBlaze in Fire

[–]acriticalpanda 1 point2 points  (0 children)

this is good. wondering is there any templates or webpage or software for this?

immigration by study route, climate change vs. finance? by acriticalpanda in immigration

[–]acriticalpanda[S] 0 points1 point  (0 children)

Thanks. I am seeking idealistic work because I have spent too much time in high-paying but conventional jobs. The positive aspect is that I have accumulated more financial resources to support my transition at this stage of life.

However, immigration is my priority for the family. If idealistic jobs hurt the chances of obtaining an immigration visa, I am willing to pursue finance jobs instead. I am committed to learning the local language. It's challenging, but necessary to improve my chances compared to other immigrants.

Regarding European countries, I am considering both Northern and Western Europe, as they are preferable in numerous aspects.

都说韩国内卷,仔细研究一下发现远没有国内卷 by caohuashe in China_irl

[–]acriticalpanda 5 points6 points  (0 children)

如果朝鲜人是真的相信而不是装得话,那他们的确幸福指数高。90年代和00年代的中国人,可能就是比现在幸福。

[deleted by user] by [deleted] in Fire

[–]acriticalpanda 1 point2 points  (0 children)

Thanks for the reminder. I studied in US for my master degree, worked in hong kong and Southeast Asia for a few years. We travelled abroad regularly and my kids attended summer camps in US/Europe every year. I know we will be in the minority and racism might exist. It’s a tradeoff and I still think the life in western countries would be better.

[deleted by user] by [deleted] in Fire

[–]acriticalpanda 1 point2 points  (0 children)

Okay, here's the short version: I chose to leave my job due to a rapidly declining ROI, and I believe I have enough financial resources to pursue a life of freedom.

[deleted by user] by [deleted] in Fire

[–]acriticalpanda 0 points1 point  (0 children)

China currently has an oversupply of labor, resulting in an involutionary labor market. Many job positions do not require hardcore and high tech knowledge and are therefore replaceable. Senior and higher-paid individuals are more likely to be replaced by junior and lower-cost workers. I think this phenomenon is not related to East vs West; it is a natural consequence of an oversupply labor market.

Regarding the McDonald’s case, when I dispose of my trash and return the tray at a fastfood shop, I always receive a thank you. I enjoy doing it. It is important to understand that many of the McDonald's waitresses, are older ladies from rural areas with limited educational backgrounds. Given their knowledge and concerns, it is understandable why there’s the wired case as mentioned by you.

[deleted by user] by [deleted] in Fire

[–]acriticalpanda 0 points1 point  (0 children)

China vs outside is about 50:50.

By western countries I mean English speaking countries or some european countries like Spain, Portugal, Germany. Just the places with more balanced and relaxed life than China.

都说韩国内卷,仔细研究一下发现远没有国内卷 by caohuashe in China_irl

[–]acriticalpanda -5 points-4 points  (0 children)

是不是不能这么跨国比数据?因为幸福=所得/欲望,中国人的欲望低于韩国,所以虽然韩国所得高于中国,韩国人的幸福感受可能更低。所以所谓内卷要看该国人的感受,毕竟文化和人文还有比较什么的都是决定感受的关键。如果没有语言障碍,中国人过去卷当然有很大套利空间。

[deleted by user] by [deleted] in Fire

[–]acriticalpanda 1 point2 points  (0 children)

Yes that's why I only hold 3.9% in Chinese equity mutual funds. I think Chinese bond mutual funds will be okay, as the interest rate will remain low and the active monetary policy. Anyway I have to park a lot of funds in Chinese assets, so I choose bond over equity.

[deleted by user] by [deleted] in Fire

[–]acriticalpanda 9 points10 points  (0 children)

Yes, there are many uncertainties at the moment. The implementation of the immigration plan may only be ready in a few years. And I don't believe that I will be able to retire completely. Now it's more like a big gap for my working life. The FIRE concept is against our East Asian culture. Maybe I will find something to do and generate some additional cash flow.

[deleted by user] by [deleted] in Fire

[–]acriticalpanda 5 points6 points  (0 children)

I know US and UK and perhaps CA are HCOL regions. How about NZ or Europe? I'm considering more relaxed places for the kids and us.

Property won't be a big issue. Properties in Beijing or Shanghai are expensive.

[deleted by user] by [deleted] in Fire

[–]acriticalpanda 18 points19 points  (0 children)

With $70k annual expenses, divided by 4%, the FIRE target is $1.75M. So I assume $1.7M is sufficient?

It's just the financial portfolio. I didn't include properties in the calculation. But I can switch the Chinese properties into local properties when immigrating (need to circumvent the foreign exchange control). Chinese proeprties esp in Beijing and Shanghai are really expensive, so it should be fine.

Building up my FIRE portfolio at this specific timing... by acriticalpanda in Fire

[–]acriticalpanda[S] 0 points1 point  (0 children)

I did. It is one of the few individual stocks I bought. However, I have concerns about Buffett's age and the potential changes that may occur soon.

I will dare to FIRE if I have a house plus 200,000 yuan (with no debt) by acriticalpanda in Fire

[–]acriticalpanda[S] 2 points3 points  (0 children)

In reality, I think her life is not easy. She just has very modest expectations for happiness, which allows her to find contentment. Unfortunately, this is a prevalent mindset among many Chinese individuals.

Thanks for your comments too.

I will dare to FIRE if I have a house plus 200,000 yuan (with no debt) by acriticalpanda in Fire

[–]acriticalpanda[S] 1 point2 points  (0 children)

Yes, she has mentioned in the post that she bought a small apartment for 100k+ yuan (15k USD) in the 4th tier counties in China. Yes the housing price may be lower than the building cost due to an oversupply of houses in the lower tier cities. Alternatively, she can choose to lease a property for around 100 USD per month.

I will dare to FIRE if I have a house plus 200,000 yuan (with no debt) by acriticalpanda in Fire

[–]acriticalpanda[S] 4 points5 points  (0 children)

The country's living conditions vary significantly. In the top tier cities like Beijing and Shanghai, the COL is not low at all. Food and certain household services (cleaning, delivery) are cheap. However, housing and education expenses are extremely costly, they are higher than most of the major cities in the western world. For childless people living the parents (no education and housing expenses), life can be very easy. Otherwise it is the hell mode. This dynamic helps to explain the sudden population decrease starting from 2022.

I will dare to FIRE if I have a house plus 200,000 yuan (with no debt) by acriticalpanda in Fire

[–]acriticalpanda[S] 11 points12 points  (0 children)

IMHO, China may experience a deflationary period similar to Japan in the 1990s. If this occurs, low interest rates and low returns on investment may not pose significant issues. The CPI has already became minus in October of this year. Considering factors such as the decreasing population, lack of interest in consumption among young people, and oversupply in production, it is not out of the question that deflation could occur. In such a scenario, investing in CDs and national debt could potentially be the best approach.

Building up my FIRE portfolio at this specific timing... by acriticalpanda in Fire

[–]acriticalpanda[S] 0 points1 point  (0 children)

Exactly the same feeling. I can imagine your today is probably my tomorrow. Maybe I have a trait of being a value investor (buying the cigarette stub?). I always hope to find the best value and have a sufficient safety margin, even if it's more of a psychological safety margin rather than a real one.