How to retiree without Bank account ?(all inclusive payment for my whole life)

[Dasboot]

...if anyone are serious about this I guess its doable in Thailand - but it‌ would not come cheap in any way!

Here right outside of Bangkok I'm living in‍ a gated community, lots of houses up for sale - also there is some type⁠ of nursing home inside the compound. Guess a setup where you buy a house +⁤ get services delivered could also work?

Almost all condos here have a "juristic person" that⁣ deals with basically anything, these would be key of course.

You'd still need some form⁢ of trust set up & fallbacks and/or lawyers that can deal with problems... Then there︀ is also the visa issue, but here as in a lot of countries that can︁ be handled by an agent paying the right bribes.

There is a real issue with︂ these things, as there are few places you could get a residency with NO follow︃ ups or possible pitfalls!

 

[JackAlabama]

Thailand surely was a great option.︄ In Isaan things can be arranged even for better value.
But how is Thailand in︅ 2020?

 

[Martin Everson]

Yes the question of yield is important. Farming is sustainable if done⁠ right thu&¤#. I have come across a few people who retired and went into farming⁤ by buying a piece of land and hiring cheap labor. As someone who has retired⁣ this topic interests me more than most...lol.

 

[Dasboot]

Thailand in 2020‍ is same same, but different! ;-)

Had a hell of a problem with visa during⁠ the scamdemic, basically had to abandon the company + work permit which had cost me⁤ a LOT setting up...

So once I get rid of that I'll be the typical⁣ "grey man" here, with a retirement visa paid for through a very well connected agent⁢ that can even fix blacklisting if something should go seriously wrong.

Even Thailand is now︀ trying to set up some type of socialism, but it will of course take decades︁ before they get even close - her right outside of Bangkok I've had a huge︂ amount of personal freedom throughout.

If anything it should be far easier to set up︃ something permanent based on connections, as long as there will be assets to pay off︄ as agreed almost anything is possible 🙂

Haven't gotten the right contacts & info yet to︅ be able to give advice on how to stay here without a visa, but its︆ clearly referred to as a thing by serious commenters - one could use those setups︇ to just "grease" a fully legal visa a bit, so that it always goes through︈ easily AND the local immigration contact will give a heads up if anything changes.

Add frequent donations to local key people & the local temple and you'd be king in︉ your lair haha!

 

[Hurrymore212]

Africa would be a great option for you in this case. Buy a house, entrust‌ someone with your money, you both plan on the kind lifestyle you want and he‍ will handle the rest when the need arise and all you have to do is⁠ wake up eat,read,go fishing and play around the garden like a baby ) .
Zero stress. The only problem is Trust and Security. You could get kidnapped for ransom if⁤ you don't pitch your tent in a great location.

 

[nomad999]

What kind⁣ of lifestyle would you expect from this ? Any traveling plan visiting family and such⁢ or not at all ? consuming information all day ?

You wouldn't have access to︀ money at all, is that right ?

Also are we talking retirement age above 65-70︁ or below 50 ?

And what kind of amount are we talking about ? Mid︂ 6 digits or Low 7 digits ?

That would be an insane commitment, how could︃ you trust anyone with this ?

Asking genuinely here.

 

[troubled soul]

What kind of lifestyle would you expect from this ? Any traveling plan visiting⁢ family and such or not at all ? consuming information all day ?
Simple living︀ with family.No much travel

You wouldn't have access to money at all, is that right︁ ?
Yes

Also are we talking retirement age above 65-70 or below 50 ?
Below 50

And what kind of amount are we talking about ? Mid 6 digits or︂ Low 7 digits ?
7 digit

That would be an insane commitment, how could you︃ trust anyone with this ?
That's What I am looking for some government provide this︄ type of arrangement. Or use multiple service provider (Just researching ) Still searching

 

[nomad999]

interesting, surely it must be possible to hire some reputable lawyer/accounting firm to manage everything‌ for you and you would just have to tell them what you want and follow‍ their directives. pretty sure a lot of wealthy people function like this so something must⁠ exist out there.

now I don't know your personal situation but making that kind of⁤ commitment below 50 might be a bit radical to say the least.
for instance living⁣ in south east asia I am pretty sure you could really easily arrange to stay⁢ in a nice resort for a few thousands per months all included, especially given the︀ current "situation".
for your capital just park it in the SP500/bitcoin 80/20 and forget about︁ it, it will grow itself far more than what you will ever need long term.︂
visa would be a bit annoying but its just a matter of how much in︃ the end, there is many solutions.

for like 50k per year and very minimal "work"︄ on your part you could achieve close to the same thing really and still have︅ some control of your life, still have a long way to go and its likely︆ you will want to do something else at some point.

I am kind of planning︇ doing this actually, still figuring out a few thing but I can see in a︈ year or two everything will be on autopilot and not much to worry about.

 

[Martin Everson]

Called a Trust.

 

[Dasboot]

If you're serious then hiring a separate lawyer to check on what the main ones‌ do in/with the trust would be key...

So, you'd never go even outside to buy‍ stuff then? Sounds like giving up on life really, bet it would cut off a⁠ good couple of decades!

Unless you go for my "gangster with tons of gold stashed⁤ away"-solution, that would make for a lot of interesting activities that could involve no accounts⁣ or cash! ;-)

 

[JackAlabama]

You can stay in resorts in Africa for below 2k $︉ rent and add another 1k for food. Visa situation can also be handled flexible.

 

[UpToMeTho]

Some hotel in Turkey maybe? They offer “ultra all inclusive" for as low as 70‌ usd a day to up to several hundreds. 24 hours food and drinks. You have‍ everything inside the resort, don't have to leave the premises. From several restaurants, clubs, tennis⁠ court, golf, pool, sauna, you name it. You tip a waitres 1-2 euro and they⁤ treat you like a king. Not sure about long stay visa, but 90 days visa⁣ free for most countries.

 

[JackAlabama]

Mexico as well.
Good all inclusive⁢ resorts for 100$/day.
But the question is what do you do if the resort is︀ being shut down / no tourists are coming or it just goes out of business?︁

 

[troubled soul]

That is the only⁠ fear.
Is there any government back scheme for this ?

 

[newNomad]

I guess the OP has a problem in owning anything to his name, thus cannot‌ have bank accounts or buy resorts to his name (or not even via a company‍ proxy as UBO?)
I also was wondering how realistic this problem is
Since I heard⁠ of plenty of businesspeople in Europe racketing up enormous debts with Gov and tax authorities⁤ - the game is this - you are fully transparent and declare everything, unpeccable accounting⁣ and clean books - but never pay any dues kicking the can down the lane⁢ as far as possible (asking deferrements, breaks, ...citing always some more or less plausiable reasons)︀ until coming out with the fact that the money *somehow* disappeared and you do not︁ have it to pay taxes or even suppliers, royalties...
Then just run an another company︂ or move to a different jurisdiction and just iterate. Most are sitting calmly with MMs+︃ owed to Govs and even operating normally albeit officially being with "blocked accounts". Owners and︄ managers drive nice cars and have properties internationally...Anyone knows then HOW they do it? 🙂 Really having everything prepaid or on someone's else name? Nah I don't think so...

Following this︅ line it actually could be extended to almost everything, defaulting on rents, mortgages, personal loans︆ and just use some rehabilitation or such they enact from time to time to "free"︇ the debtors and/or shuffle jurisdictions. So far seeamed to work awesome for/in the PIGS countries.︈ No debt is a problem if you just don't have the $ to pay 🙂 Optimizing one's life and finances in a clean and frugal manner - only incoming payments pls,︉ no outgoing expenses lol A holy grail to 100% profit margins?