I am currently on a holiday & training on the beautiful island of Phuket, I am starting to be in love with this beautiful island despite being here from time to time over the past few years. Being able to retire, spread my love for BJJ & live a nomad life has always been my ultimate goals in life.
In my mind, I always thought that I need to have a specific amount of income in order for me to retire which I used to set at RM4,000,000 & using the 4% rules to spend it carefully. Upon living here for a couple of days & talking to some of the foreigners staying around here, I realized that most of them are not living on their retirement income but they do have multiple jobs to sustain their current lifestyle. While some of them are relying mainly on their savings which they have saved a majority of their income but spending minimum in their country, most of them have a sustainable income from their remote jobs, teaching, trading, playing poker & owning a business.
This idea opens my mind to how I can move to another country over a long period of time while generating a certain amount of income to sustain in another country. The fact is, I have a full-time job where it contributes 80% of my income while my side hustle such as my gym, finger tape business & blogs are generating the other 20% of my income. In order for me to move here to train BJJ full time, I need to have at least 80% of my total current income while renting out my current house where I am currently staying.
The plan is as simple as renting out my current house, selling off my car & increasing my side hustle income to make up for my full-time job income. It sounds easy but it is actually hard to achieve it. If I were to quit my full-time job, rent out my house & sell my car, my side hustle income can only cover the rental cost of a house in Phuket & perhaps transportation but not food & training expenses. Getting a remote job is definitely an idea that I am opening up to at this point but I am also exploring what can I do with my existing hustle in order for me to increase my income.
Although it is a simple plan to look into, I have to be really careful in terms of my planning as a Malaysian visa to Thailand is only valid for 30 days which can be increased to 60 days upon application. Another concern of mine is when it comes to medical coverage as living abroad can be totally different compared to living in our own home countries.
There are definitely a few concerns that I have to look into in order for me to make it work. As of now, I am keeping my options open to accelerate my nomadic life process rather than working towards my retirement in 5-10 years. Within the next few months, I will be looking into how I can achieve and sustain a nomadic life.
OSS!
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