Brazil Retirement Questions 2021

[bucknaway]

Thanks to some investments in crypto currencies, I am in the position to consider an early retirement and I am thinking of spending a good portion of my time in Brazil.  This idea has me wondering if there is any advice from others in the Gay community on Retiring in Brazil?  I have not decided if I plan to spend most of my days in Brazil or spend it hopping around the world from country to country every 3 months?  Something like 3 months in Thailand, 3 months in Brazil, 3 months in Vietnam & Cambodia and 3 months in the USA...  

At this point I am simply exploring my options and wondering out loud what I should do before I put a serious plan together.  

I know it may seem like I am rushing things and a month ago I would not even think about it retirement for another 5 years or so but after watching my investment grow and one of my investment buddies just announce his retirement today....  It has me wondering what I am waiting for?  I don't like to take risks and I know I could lose half my investments and still be ok.  I would not even need to touch my investments for 2 or 3 years from the un-invested savings I have.  Still, I am worried about the unknown,  but I think I just want to be sure I am ready and besides, the best time to enjoy life is NOW.... Right?

Well, right now, besides all that stuff from above, I am trying to figure out my monthly Budget as well as my housing budget.  If I can get a better deal on a 4 month lease in a building and it works out that I can get a Visa that works well related to the lease then I would bend to that advantage and go with the flow...

I plan to keep my house here in the USA. I am not sure if I will lock it down while I am away or if I will allow a friend to live in it for me and just pay the utilities they use and maintain the place so that I will have a place to come back to when I am in the USA for my short stay.  I may even keep my car... But that may change.

At this point, I am too young to touch my 401K and there won't be any Social Security coming my way till I am at least 62 and I would have to consider getting my own medical insurance.

All that being said...  For those of you who have quit your jobs and retired to Brazil, what advice do you have?

 

 

 

[fedssocr]

Good for you. If you don't have a financial planner I might recommend getting one who specializes in the kind of retirement you're contemplating to help you navigate the issues.

[TotallyOz]

Sounds like a great idea and one that will make your life happier. I do have a few questions and/or comments.

It may be beneficial for your friend living in your USA home to pay a bit more than utilities and upkeep. They are getting a place for cheap.

If you get a full-time place in Brazil, will that be year round as well or temporary?  If year round, are you considering the same thing with that home?

For Thailand, the months are easy as you can find furnished apartments there easily. For Brazil, I don't know. When I was looking years back, finding a good serviced apartment was hard for me if it was not a full year. That may have changed since I last looked. But, wonder if you found the right person that would be willing to split the place with you for 1/2 time per year and the two of you work out a split deal for months and upkeep?

 

[Docbr01]

Considering dollar vs real now, I’m surprised that you foreign guys aren’t investing in real estate at Brazil nowadays. I know Rio de Janeiro prices are sky high even in dollars, but for anyone looking to live in São Paulo, I think you can get good deals in small apartments here at the moment. 

[bucknaway]

7 hours ago, TotallyOz said:

Sounds like a great idea and one that will make your life happier. I do have a few questions and/or comments.

It may be beneficial for your friend living in your USA home to pay a bit more than utilities and upkeep. They are getting a place for cheap.

If you get a full-time place in Brazil, will that be year round as well or temporary? 

Right now I have only looked at long-term Airbnb rentals and a few property rentals on Viva local.  I found some very nice furnished places for less than $30 a day if rented for 3 months on Airbnb.

 

As far as my health goes I am flexible on that but they will not be getting it as their private home because I will be coming and going with little notice. But they will be expected to maintain the lawn and stay on top of any minor repairs. I am not sure if I will ask a friend or a family member to take on that burden.

This morning when I woke up I was thinking of just living at home and taking monthly trips to wherever the wind blows.  That may be my first year of retirement.  

Im also wondering what work I can do from my laptop to keep myself focused and my mind active?  I may try to do something in the crypto field since it's a new growth area.

As for now I'm still at the chalkboard taking note of the best ideas and suggestions.

[scott456]

Indeed, the stock market and crypto currencies are making a lot of people very happy.

I have been in early retirement and traveling around for sometime(until Covid started), while keep my house in the U.S. as my home base. But I am seriously thinking about getting a condo instead.  It's much easier to just lock up a condo and leave.  Plus, I wouldn't want to maintain a house in my older age even when I quit traveling.  But that's just me.

[Guest]

1 hour ago, scott456 said:

I have been in early retirement and traveling around for sometime(until Covid started), while keep my house in the U.S. as my home base. But I am seriously thinking about getting a condo instead.  It's much easier to just lock up a condo and leave.

Having taken early retirement, I'm also seeing weighing up the advantages & disadvantages of moving to an apartment.   

With an apartment, if I want to go traveling,  I can just turn the water off, walk out of the door and go.   No garden to maintain, or anything like that.   Of course, if I'm at home in the summer, having a garden is very pleasant.   If I went away for a couple of months during the summer, it would need someone to look after it.   In the winter, it can take care of itself. 

I have noticed a lot of apartments have inadequate mail boxes, which would fill up quickly.  However, when I recently visited a masseur in a new build apartment, there were proper letterboxes in the door of every one.   

[fedssocr]

3 hours ago, z909 said:

I have noticed a lot of apartments have inadequate mail boxes, which would fill up quickly.  However, when I recently visited a masseur in a new build apartment, there were proper letterboxes in the door of every one.   

do you not have the option of stopping your mail at the post office? at my condo the boxes are small, but once they jam it full they just collect it in the mailroom or at the front desk of my building. Having a 24 hour staffed front desk is one of the nice things about my building

[KeepItReal]

19 hours ago, bucknaway said:

Thanks to some investments in crypto currencies, I am in the position to consider an early retirement and I am thinking of spending a good portion of my time in Brazil.  This idea has me wondering if there is any advice from others in the Gay community on Retiring in Brazil?  I have not decided if I plan to spend most of my days in Brazil or spend it hopping around the world from country to country every 3 months?  Something like 3 months in Thailand, 3 months in Brazil, 3 months in Vietnam & Cambodia and 3 months in the USA...  

At this point I am simply exploring my options and wondering out loud what I should do before I put a serious plan together.  

I know it may seem like I am rushing things and a month ago I would not even think about it retirement for another 5 years or so but after watching my investment grow and one of my investment buddies just announce his retirement today....  It has me wondering what I am waiting for?  I don't like to take risks and I know I could lose half my investments and still be ok.  I would not even need to touch my investments for 2 or 3 years from the un-invested savings I have.  Still, I am worried about the unknown,  but I think I just want to be sure I am ready and besides, the best time to enjoy life is NOW.... Right?

 

 

 

As today is National Tax day here in the USA, I would be remiss not to remind you that you should keep in mind the taxes you will pay on all those crypto gains! 

[bangdom]

Great topic!  I often think about retirement or semi retirement in next 10 years.  5 years ago I was thinking I'd like to spend 3-6 months in Bangkok each year with London as base.  Now Thailand not so cheap and air quality not good but good health services.  Last few years I have focused travels in Brazil and the sauna scene so would love to semi retire in Rio or Sao Paulo, especially now with Pound against Real but concerns about safety as full time resident (never experienced any danger as tourist though).  I generally stay in airbnb but like others said renting apartment and possibly sharing sounds like a great idea.  Has anyone retired and obtained some sort of retirement visa in Brazil?  I wonder how much you would spend on rent boys and how often we would visit saunas if a full time resident!

[bucknaway]

58 minutes ago, KeepItReal said:

As today is National Tax day here in the USA, I would be remiss not to remind you that you should keep in mind the taxes you will pay on all those crypto gains! 

I love paying taxes

[Riobard]

1 hour ago, KeepItReal said:

As today is National Tax day here in the USA, I would be remiss not to remind you that you should keep in mind the taxes you will pay on all those crypto gains! 

And that is why Brazilian ‘trade’ should be a bona fide tax-deductible medical xpense. 

[Alexbbb]

IR-2021-59, March 17, 2021

WASHINGTON — The Treasury Department and Internal Revenue Service announced today that the federal income tax filing due date for individuals for the 2020 tax year will be automatically extended from April 15, 2021, to May 17, 2021.

[Cany10011]

19 hours ago, Riobard said:

And that is why Brazilian ‘trade’ should be a bona fide tax-deductible medical xpense. 

Sex Surrogates are a government service provided to injured and qualified israeli soldiers.... Lucky girls. 

[Latbear4blk]

4 hours ago, Cany10011 said:

Lucky girls.

Very lucky. Get crippled to get for free whores.

[caeron]

I would personally be nervous if I was approaching retirement and any significant portion of my assets were in something as volatile as cryptocurrencies. 

I'd echo the advice to get a financial advisor and figure out what you can afford.

Try to rent an apartment in Bangkok for a month or two and see how it goes. make no commitment until you've done it for a while and are sure you want to keep doing it.

[JKane]

Also be very clear on how any financial advice you're getting is being paid for.  Is the Financial Advisor contracted to a FIDUCIARY duty to you (recommended)?  Or are they going to just be *selling* you whatever gives them the best commission?  

[Venerist]

3 hours ago, JKane said:

Also be very clear on how any financial advice you're getting is being paid for.  Is the Financial Advisor contracted to a FIDUCIARY duty to you (recommended)?  Or are they going to just be *selling* you whatever gives them the best commission?  

This is excellent advice. Most people do not realize that stockbrokers do not have a legal obligation to act in the best interest of their clients, unless they are fiduciaries. Stockbrokers often make recommendations based on what generates the most commissions for themselves, rather than the greatest return for clients. Caveat emptor!

[Axiom2020]

On 4/16/2021 at 12:03 PM, caeron said:

I would personally be nervous if I was approaching retirement and any significant portion of my assets were in something as volatile as cryptocurrencies. 

I'd echo the advice to get a financial advisor and figure out what you can afford.

Try to rent an apartment in Bangkok for a month or two and see how it goes. make no commitment until you've done it for a while and are sure you want to keep doing it.

You mentioned both Brazil and Thailand.  My suggestion echoes Caeron's.  Rent an apartment for a month in each of the places mentioned.  Therefore, you'd get a sense later on as to your desire to spend three months in each place later.

Also, in terms of your friend staying in your house, do you know your friend rather well?  Is he a responsible individual?  I ask because I had the unfortunate experience in permitting one of my very good friends to stay in my apartment while I recuperated from foot surgery some years back.  At the time he was a smoker and burned a hole in my sofa.  Luckily, it was in an area where the burned-out space could be hidden by my placing one of my sofa pillows over it.  And to make it worse, he denied his having not done it which compounded the situation.  No one else had access to my place.  Any visitor or other friends never smoked inside of my place.  We still remained friends until his death, but it did unnerve me.

[travguy]

RE Money:

What you likely should seek is a fiduciary type advisor that charges you by the hour for advice given and is not in a position to profit from any actions that you might take.  Likely around $100-200 USD/hr. This person or company should not have any control of your money. Finding such a person that you can trust might not be easy, especially outside of large cities. A good accountant or banker should be able to assist. 

Never ever use wifi when not at home without having a good VPN to avoid someone getting your passwords. You might even consider having several accounts to avoid possible on line complete financial catastrophe form having all of your assets with one company, and not accessing some investment sites at all while abroad. There are many good low cost VPN services.

Some countries also offer citizenship if you spend enough time and money there. Completely different subject, but opens up other possibilities to save some money due to taxation. Americans and Brits living and working and paying taxes abroad are subject to lower tax bills back home. Not sure if this might be true for investment incomes per a foreign address, unless you are a dual citizen.

Completely agree with others: rent before you buy and in the season you would choose to be in a location.  For a multiyear commitment the next year or 2 are likely bad times to judge things.

EU, GB, US, and Japan have excellent healthcare. If you get sick in Rio or Bangkok, etc. will you know where to go or trust the available services? Might need a stack of FFM for a last minute trip back home. That noted, medical care in South Korea, Hungary, Costa Rica, etc. can be well priced and excellent. 

Never overstay a 90 day stay in a country unless you have made appropriate arrangements and have solid documentation for your extension with that country's authorities.

But yes, I think it would be rather easy to live most of the year abroad - if you are very healthy and financially stable. Brits, Germans, Dutch, and Ozzies have been doing this for decades with few hitches. Mind you, Commonwealth folks usually do this in expat areas, like Brits in Southern Spain, etc.