Selva, them are loaded questions to which I do not know the answers to.
But I will try :0) It is easy for me, because I pause all the time, and sometimes so often and continuous, I might as well be stationary.
I think most here, including myself, agree that home is where family and friends are, in the here and now, and as we all have history, we are where we are, and will most likely remain, for a while, until it is too late to make changes.
In my own situation, the place happens to be Hong Kong, and thankfully it happens to be a place of substantial merit, free, prosperous, fun, and convenient to a lot of other places.
The downside of Hong Kong is the crowds, but that translates to dynamism which is at times enjoyable; besides, one can go off to nearby islands and take a break.
Another downside of Hong Kong is the cost, unless and until one owns own abode, at which time the cost ought to keep going higher until one is ready to do the big cash out before making a bee line for, say, Koh Samui, or points further away.
Yet another downside is pollution … this a genuine downside, ameliorated somewhat but not altogether by one’s choice of abode, and tempered by such counteractions of organic foods and reflexology treatments, I hope.
The answer to the question of where to live also depends on whether one has young children and what one is trying to prepare them for, whether for globalized competition or everyday getting on, or laid back leisure.
When we had no child, I nearly but not quite pulled the trigger on relocation to one idyllic island retreat or another faraway place. There was one common denominator to all the daydreaming, that my buddies would gather together till the end of days.
Once the Coconut is a being, daydream stayed the same, but practicality interfered. The coconut must be brought up correctly, trained properly, educated superbly, and et cetera. Bummer.
Many of the places I had been to would be great places to spend time with kids, but they would not be the best places to raise kids.
In your particular case, I would say Malaysia is a great place to hang out, say in this neighborhood search.msn.com
If you are not already so situated, spring open the wallet for one of those abode with lush garden, ocean sounds, and beachscape, and wire it up … say someplace like fourseasons.com
I generally favor purchase solution for main residence, but not if it is in a high tax jurisdiction or politically flakey place.
Sending the moolah hoard offshore is of course a must, and I can guess where you loot is stashed … however one ought to diversify a bit, both geographically and institution-wise, and so say Switzerland and/or Lichtenstein, and UBS and/or LGT, or perhaps Hong Kong and HSBC, but certainly not any American jurisdiction or US institutions. They are tainted, politically, and polluted by same, especially of lately. And forget Singapore.
One would want to hold the various stashes via corporate vehicles and pre-sign a bunch of papers that passes control to relations, or via trusts and select good protectors.
Let me see, what else?
Oh yes, the allocations.
I would advocate, and it is entirely a matter of personal choice, between prudence and excitement, active and passive, the following:
Total USD 2 mn –
USD 200,000 in gold/silver/platinum/palladium physical, stored in HK, as financial reset, earning zeroDotnaught
USD 500,000 in internet brokerage a/c to write puts against, and only write puts on resource-based equities, ought to earn 12% per annum after inflation, say 60k
USD 500,000 in dividend yielding global REITs, preferable non-USD, yielding a blended 5%, say 25k
USD 300,000 in oil sands, blended for potential 2-3 bagger
USD 200,000 in some physical real estate punt, going either for yield or capital gain, depending on risk appetite and lifestyle endurance, yielding 5%, say 10k
USD 300,000 in some sort of business venture, earning 20-60k.
Perhaps money management, business financing a real estate agency business? Or stake a young dental clinic?
Off of 105-145k of current USD earnings, a couple ought to do OK in Langkawi, spending half and saving the other half.
I advocate working, in whatever capacity, even if only for association.
I also advocate active savings (as opposed to just depending on capital gains for the savings function), whatever the current income. Every year lived ought to yield one year’s worth of expense in savings. Call me traditional.
2 mn is not what it used to be ;0/
Do not forget to buy health insurance.
I shy away from debt, and so do not advocate it for others, and I treat borrowing power as a blessing, just in case something truly unusual turns up.
As to <<what kinds of lifestyle choices would you suggest to me, for example in terms of where to live, what music I should listen to, books to read, kind of company I should keep, places in the world I should rush to visit over next 3 years, etc. etc.>>
You are of course kidding, but I favor world music from all over, and the FM in every country does the trick for me; books? I like those delicious books published in America about manias and crowds, and I like detective whodoneit books.
As to places to visit, the usual suspects, barge trips in Europe, train journeys in India, and as many islands as one can manage :0)
Do not forget Russia, China, Latin America, and ... oh, say South Africa.
Chugs, J |
