I'm a US citizen in early 30s and have approximately $800k USD in assets (investment accounts, home equity, a fair sum of cash).
I'm looking at a potential opportunity in Tokyo for around 10M JPY. Given that I don't have a desire for a particularly lavish lifestyle, would it be feasible for me to make the move and retire as soon as I'm eligible for nenkin? I've been looking into how much others spend in retirement in Japan, but I'm wondering about what large life expenses I should be accounting for besides home, insurance, and healthcare. I could buy a home outright and wonder if 10 years additional work would produce enough comfortable buffer to see me through; what factors should I be considering?
by ChanceAwareness1842
3 comments
“Eligible for nenkin” = 65 years old, so you’ll be waiting quite some time to retire if that’s your goal line
insurance and healthcare are not large life expenses in Japan.
Homes not really for a person with USD cash. You could get something very nice for $500k USD.
the bigger issue is your assets if they are in IRA and 401k as those aren’t tax advantaged for residents in Japan.
Also if you are expecting an inheritence, this is not the country to live in if it’s over $4M USD.
The only other expense that might very large is if you want to have children and send them to an english speaking school, that will cost you $18K USD a year per child.
I think you mean eligible for permanent residency, right?
As others said retirement age is 65, so that is not going to cut it.
Even if you work 10 years at 10M and then stop, you will be likely getting the minimum retirement which is like 300 dollars a month or so when 65.
Do you know Japanese? This does not sound like a realistic goal to be honest.
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