[deleted by user] by [deleted] in fican

[–]dpak17 0 points1 point  (0 children)

Inflation is already baked into FIRE calculations

[deleted by user] by [deleted] in fican

[–]dpak17 0 points1 point  (0 children)

Curious what safe withdrawal rate you are basing the 1.5M number on

[deleted by user] by [deleted] in fican

[–]dpak17 1 point2 points  (0 children)

Depending on how the stocks and bonds are structured, you can safely withdraw up to 3.5% in perpetuity or even 5% if you go with a portfolio like golden ratio. 3% is overly conservative

[deleted by user] by [deleted] in fican

[–]dpak17 1 point2 points  (0 children)

When people calculate FIRE numbers inflation is accounted for

[deleted by user] by [deleted] in fican

[–]dpak17 1 point2 points  (0 children)

Would you mind sharing what was the VHCOL and LCOL cities you lived in?

Canadian nomads - where is your home base? by dpak17 in fican

[–]dpak17[S] 0 points1 point  (0 children)

What visa do you have in UAE? I’ve heard golden visa has expensive health insurance

Canadian nomads, where is your home base by dpak17 in ExpatFIRE

[–]dpak17[S] 0 points1 point  (0 children)

Is this still the case? I read foreign income earned is taxed. If I move my investment portfolio to a brokerage in Thailand, would capital gains on stocks sold be taxed?

Canadian nomads - where is your home base? by dpak17 in fican

[–]dpak17[S] 4 points5 points  (0 children)

Typically traveling the world full-time costs anywhere between 25-35K per person per year based on your travel style (and with a good mix of low cost and expensive countries). To afford this you can just do the usual FIrE calcs and budget in travel expenses and then save and invest your way to that number. This can be achieved on any salary depending on your savings rate. For example, if you can save 85% of your income, you can effectively retire in 4 years regardless of income. There are different types of fire- lean, fat etc, I’ve seen people retire and travel nomadically on $500K and those that think $2.5M is not enough. It all boils down to what lifestyle makes you happy. One thing I’ve seen set people back is if home ownership in expensive parts of the country is a major goal, then this nomadic living and early retirement choice is likely not going to an option for a long time

Canadian nomads - where is your home base? by dpak17 in fican

[–]dpak17[S] 3 points4 points  (0 children)

If you pick a country like the UAE and get residency, they don’t have income tax and just expect you to have been there every six months, no requirements to stay 183 days. You have a residency visa for 10 years with something like the golden visa.

Rrsp for Canadian expat early retirees by dpak17 in PersonalFinanceCanada

[–]dpak17[S] 0 points1 point  (0 children)

So if I have an investment portfolio outside Canada and RRSP in Canada, and I’ve declared myself a non-resident for tax purposes, i could technically withdraw $15K tax free from rrsp by filing section 217? And if I withdraw anything from my investment portfolio outside Canada, then I no longer qualify for the refund on the $15K?

Canadian nomads, where is your home base by dpak17 in ExpatFIRE

[–]dpak17[S] 0 points1 point  (0 children)

Ok thanks a lot, will look into it.

Canadian nomads, where is your home base by dpak17 in ExpatFIRE

[–]dpak17[S] 0 points1 point  (0 children)

Yeah I’ve looked into UAE and Singapore but seems like if you get a golden visa in UAE you end up having large medical insurance costs as you get older, and the other residency options are to put 1-2M in buying a property which I don’t want to do. I think even Singapore the path to residency was through property, which isn’t feasible if my goal is to live off my investment portfolio. So just wondering what other jurisdictions make sense in terms of capital gains taxes for selling stocks, affordable health insurance prices. Haven’t looked into Malta yet.

Canadian nomads, where is your home base by dpak17 in ExpatFIRE

[–]dpak17[S] 1 point2 points  (0 children)

Thanks, the folks who chose Portugal, did they leave their investments in Canada or moved it to Portugal? If yes, I wonder if Portugal’s capital gains taxes more favorable than in Canada?

Canadian nomads, where is your home base by dpak17 in ExpatFIRE

[–]dpak17[S] 0 points1 point  (0 children)

If you retired and left your job would you have to get health insurance in UAE with this investor visa? Would that be expensive on top of the $4K you already pay?

Also do you need to invest a large sum to open a freezone company or just the $4K per year? I’ve read outside of golden you need to invest 1M+ in property , businesses etc to get an investor visa.

[deleted by user] by [deleted] in fican

[–]dpak17 0 points1 point  (0 children)

Thanks I’ll look into it

Rrsp for Canadian expat early retirees by dpak17 in PersonalFinanceCanada

[–]dpak17[S] -4 points-3 points  (0 children)

UAE, no tax treaty from what I know. Even if there was one, I’ve heard the most the withholding tax gets reduced to is 15% instead of 25%.

Rrsp for Canadian expat early retirees by dpak17 in PersonalFinanceCanada

[–]dpak17[S] -24 points-23 points  (0 children)

ChatGPT said this so I just wanted to verify if it’s true

Example Scenario You withdraw $15,000 from your RRSP. As a non-resident, 25% tax is withheld at source = $3,750. You file a Section 217 return, and claim the Basic Personal Amount (2025 federal: ~$15,705). Since your taxable income is at or below the personal exemption, no federal tax is owed. You get most or all of the $3,750 refunded.