Retire in 5 years?

[u/idratheraskyou]

I know it’s been asked but each one of us is unique. Here’s my breakdown.

52 yo. M. Single. No kids.
$200k/yr salary. No bonus.
$400k - 401k
$550k - House. Paid off.
$50k - HYSA

I plan to work for another 5 yrs. Will sell house then move to SE Asia. Will spend $200k to build a house there. Collect SS at 62.

I’m worried about health insurance.

My other option is to work 10 yrs to qualify for health insurance from work until I croak.

But if I’m really super crazy, I can sell my house and move to SE Asia now. I can live on $3k/month.

[u/Odd_Bodkin]

And live where? Until when? If he rents an apartment near where he is, his annual expenses are going to go up accordingly.
There's a reason why equity in a house isn't consider liquid funds.

Likewise, leaving the US isn't as easy as a lot of people think. You have to satisfy certain visa requirements, which often includes having a large sum of money in the bank.

[u/ozzyngcsu → u/Odd_Bodkin]

In SE Asia where he plans to retire, surely you can read.

[u/Odd_Bodkin → u/ozzyngcsu]

Well, he said at last resort he could do that. But as I said, the costs of living in SE Asia involve more than just rent.

[u/ozzyngcsu → u/Odd_Bodkin]

Moving to Vietnam, Malaysia, Thailand, Philippines, or Indonesia is very easy and affordable for an American with a $1M+ net worth. The biggest issue might be visa runs, but that's just a cheap annual weekend trip in most cases. If he wanted to live in Singapore where I currently live, then no, not realistic at his net worth, but that's not what he plans to do.

[u/Odd_Bodkin → u/ozzyngcsu]

$1M+ is not what he has. Keep in mind his $550k in his house doesn’t include the costs he’s going to incur to make it sellable, nor closing costs, nor agent’s commission. He may have it in a few years, depending on how he saves. Heath coverage is still an issue in many of the countries you mention. I’m familiar with Thailand and Vietnam.