A way to retire cheaply

[RealityBitesParticipant 2198]

Yeah…well….if a man doesn’t work and save for retirement; life is going to be very grim for him in the future. On the other hand he is just going to have to pay taxes. There are a few dodges he can do to minimize it. But it is going to happen.

If he is in good health. He could do what I was thinking of doing until my health issues caught up with me:
(1.) Save for a modest retirement
(2.) Become a Jew through a formal conversion program (I’ll explain why in a bit)
(3.) Sell the house and sell off everything and buy and refit a Blue Water Cruiser Sailboat
(4.) Retire and move onto the sailboat and leave the USA (No more State Income Taxes or Capital Gains Taxes or Property Taxes at that point)
(5.) Apply for Aliyah to Israel and become an Israeli Citizen under the Law of Return (it takes only a year of residency in Israel after applying for it: you have to be a Jew)
(6.) Once getting Israeli Citizenship…walking into the US Embassy in Jerusalem and giving up US Citizenship (it cost over $2,000 and you have to have documented proof that you paid US Income Taxes for the past 5 years and you have to liquidate everything…and if your total net worth is above a certain amount you will have to pay an exit tax)
(7.) Then once having successfully given up US Citizenship (you can never return to the US for more than 30 days on your Visa for the next 5 years)…leave Israel and move to Ecuador and apply for Ecuadoran Residency as an Israeli Expat. (And here is the Tax Loop Hole: Israel and the US have a signed Tax Treaty – since 1975…the US will Tax US Citizens and Legal Residents anywhere in the world, Israel (like European Nations) only taxes its citizens if they are living inside of Israel. Ecuador does NOT tax any money that is coming into Ecuador from OUTSIDE of Ecuador.
So why Israel and not another country? Because other countries it is much harder and takes much longer to become a citizen of that country. Some countries such as the Island of Dominica (this is NOT the Dominican Republic) will SELL Citizenship if you have enough money. I am not one of those people. But a fast way to become an Israeli Citizen is to become a Jew first. And after having lived for 1 year as an active member of a Jewish community; that person can apply for Israeli Citizenship. It does mean moving to Israel and living there. And to get out from underneath paying US taxes you MUST give up your US citizenship.
Some CONS:
You will forever give up Medicare
IF you are a retired or disabled military veteran you will forever give up your military retirement or disabled veteran benefits or any veteran benefits
1st 5 years you cannot go back to the US for more than 30 days on your Visa otherwise the IRS will start with holding 30% of all money coming out of the US
Being an Israeli Citizen means that there are countries you can never visit (such as Saudi Arabia, Libya, etc.) and there will be people whom if they discover you are an Israeli will try to murder you.

PROS:
You get to have your Social Security Check, Retirement Pension deposited without any Income Taxes taken out. You won’t have to pay any Capital Gains Taxes on Investments. (Those taxes and taxes on 401K accounts are paid upfront when you give up your US Citizenship)
If you are a retired Civil Servant – you take your pension with you.

Why a sailboat? No Rent, no mortgage, no property taxes (but you do pay cruising fees, mooring fees, slip fees or Dry Dock fees). Maintenance is critical on a boat…but if you get tired of your “neighbors” or “backyard” you weigh anchor and sail to some other location…pretty good simple life as long as you are in good health but sooner or later you will get too old and/or too sick to be a 24/7 sailor…and you will have to come to land and give up living on a boat.

Also living on a boat means you are only interacting with women when you are on land to do repairs, and resupply and fill out paperwork at new ports of entry.
Living on a boat can be very very cheap…you can live pretty well on $800 per month and that is for EVERYTHING if you are anchoring as opposed to being moored or docked…
No pesky neighbors or nosy women…trying to figure out how rich you are…instead you are nothing more than a Ghost. A sail bum dressed in some ragged clothing living on a small boat anchored somewhere in a bay…completely off a woman’s radar screen.

Living on a Boat AND no longer being a US Citizen:
You end up paying almost zero money to any government in the form of taxes and fees a portion of which will go to supporting single mothers. In essence your tax burden is SUPER LOW to being almost non-existent.

Who is John Galt?

[CarnageParticipant 22113]

Nahhhh f~~~ the jews and f~~~ israel.

I rather throw all my docs in the garbage and live on a cave stealing food from neigboors.

To those following me, be careful, I just farted. Men those beans are killers.

[JB BooksParticipant 3182]

Got nothing against Israel and like Ecuador, but it’s pretty complicated.

We just don't realize life's most significant events while they're happening. Back then, I thought, "Well, there'll be other days". I didn't realize that that was the only day. - "Moonlight" Graham

[BeerParticipant 11832]

Seems like a lot of effort for nothing considering if you save for a modest retirement and plan right you can pay no taxes anyhow, keep your medicare, and come home whenever you want. I’d rather just keep my citizenship and take very extended vacations in foreign countries with lower costs of living.

[Anonymous 38]

Pay off your home. Live simply.

[harpo-my-“SON”Participant 2410]

I come from a family known for working until they die. What is retirement?
If you get tired or to old to work drop your tools and quit.
Have you not figured out many people are not being taxed.
I have taken a vow of poverty. What do I own that is taxable?

L&R

I was bound to be misunderstood, and I laugh at those who misunderstand me. Kind mockery at the well intentioned, but unfettered cruelty towards those would be prison guards of my creative possibilities. This so as to learn as much from misunderstanding as from understanding. Taking pleasure in worthy opponents and making language fluid and flowing like a river yet pointed and precise as a dagger. Contradicts the socialistic purpose of language and makes for a wonderful linguistic dance, A verbal martial art with constant parries that hone the weapon that is the two edged sword of my mouth.

[iMickey503Participant 12465]

OH VEY! Do you get that wicked hat upon conversion for free?

I should be the last person to tell you about how to live your life. But let me give you some insight.

1. A SAILBOAT IS EXPENSIVE. Sure they can be cheap to buy. But so is suppirse butsex from a wallrezz/

Here is your boat. GOod deal. But it’s in mexico. Only like $12,000. But .. Its never JUST 12,000.
https://www.sailboatlistings.com/view/76998

The price can be as much as 100,000 to refit that boat to make it seaworthy. And you thought Porsche parts were expensive.

As long as you like the life, then go for it bro. But i JUST HAVE TO ASK YOU ONE MATH QUESTION. iS THE AMOUNT OF MONEY YOU SAVE GREATER THEN WHAT YOU COULD MAKE IF YOU WERE WORKING IN THE usa OR ABROAD COMPARED TO WHAT YOU WOULD SAVE NOT PAYING TAXES?

You are all alone. If you have been falsely accused of RAPE, DV, PLEASE let all men know about the people who did this. http://register-her.net/web/guest/home

[hdvrodParticipant 1109]

I’ll retire in Panama when I reach that stage in my life. Check it out online, it’s a pretty sweet deal.

Anyway communication, real open communication, is not wanted or even required in a relationship. Women cannot handle fully open and honest communication, plus most perceive it as a weakness on the part of a man. All that is required is catering to her whims, and even then nothing is certain. There is no way to be sure of having a successful relationshit with a woman. MGTaoist

[Author]

Posts