What's your DN Retirement Plan?
Retirement. It's not something many DNs think about ... but you should!
Are you self-funding for retirement? If so, are you saving up lots and going the low-risk 4% route? Taking your chances with the stock market or crypto? Planning on living off rents and real estate? Other?
And are you planning on living until age 100+ (lot more likely now than for our parents/grandparents)? Factoring in likely inflation? And possibly FX (currency exchange) fluctuations which may not work in your favor?
Alternatively, are you paying into a state (country) pension plan (=social security) and/or a private (company) pension plan? Thinking of perhaps doing so but can't figure out 'where' (since we nomads can make our homes about anywhere)?
I'll be the first to admit that it's REALLY hard (i.e. almost impossible) to be able to run all possible scenarios for how the world will be ... 30, let alone 50, years in the future. Still, I see many DNs simply avoiding thinking about retirement planning, and this isn't good either.
For those who have made some choices, could you share what you've done (and why) with the community to help others learn about these different paths???
For those thinking about paying into a state (country) system, you should definitely look at this amazing doc from PWC - it summarizes most of the countries' plans! https://www.pwc.com/.../social-security-country-profiles...
Key thing you'll walk away with is that most EU countries require 40+ YEARS of work to be able to earn social security - that frickin' sucks! The US requires 10 years and the payouts are actually much higher than the EU ($2500/month at max level, which is fairly doable on a 'good' US salary). Luxembourg and Switzerland are, of course, interesting ... but probably not obtainable for most.
If you're young, you might even be able to get 2 state pensions but beware that many countries reduce the amount of your pension if you are receiving another!
My mother paid into a state government pension plan + had US social security so she wound up earning MORE in retirement than she ever did while she was working (wish I was as smart as my momma)!
So, short of going out in a bang when funds are gone, what are your plans for when you get old???