Friday, August 21, 2009

Retire in Taiwan and Florida?

Back from the beaches of Florida... Once the tropical storm blew through, the weather and waves were great. I'm still a little pink at the moment.

One idea my wife and I had was to still keep residence in the US to make it easier (we think) for things like credit cards, social security (if it still exists when I reach my 60's), and retirement distributions. Also, the plan would be to escape Taiwan's nasty summers by staying in America from June through September or so.

We are considering Florida for several reasons:

1. We love their beaches.
2. The cost of living is pretty low (haven't checked property tax though).
3. Since Florida does not have a state income tax, this would be beneficial when receiving our retirement pre-tax (401k, SEP-IRA) distributions.
4. It's within moving distance from Atlanta... meaning that for the stuff we cannot part with, throw away, or sell, we could transport down to our place in Florida.

Most likely, we would buy a condo in a solid, medium/high-rise building on or within walking distance of the beach.

So, basically, some (most?) of the money that we would get from selling our Atlanta house would purchase a Florida condo on the beach. As for our place in Taiwan, we are currently considering just renting a two-bedroom in the Taipei area.

In summary, here's the split between the US and Taiwan:

January - May: Taiwan
June - September: Florida
October - December: Taiwan

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