This is my first post, thanks for having me
Let me first thank MP and members of this forum for all the important information, it’s been great reading all different kinds of insights.
My name is Jeff, born and raised in eastern Switzerland, currently 22 years old and full time employed since I finished my apprenticeship as a Commercial Employee.
This year, I am about to turn my life by 180 degrees and making my dream of living and working long term in Japan become slowly reality. This July I will fly to Japan to furthermore deepen my Japanese language skills for 6 months. I am currently intermediate level, planning on taking a business language certificate in December which will make job-hunting a bit easier.
Considering that I live with my parents which I am thankful for the most, ride to work by bicycle and have 0 debts, I am able to achieve a consistent monthly savings rate of 80-90% until my last pay in July (net income minus all expenses and I pay my federal taxes monthly). It is also important to note that I earn gross about 5k/month and I am currently sitting on 100% cash, no 3rd pillar for me.
I have only learned about the FIRE movement a few months back ago. Reading blogs like MP’s get me really inspired of following the same path in Japan and retire there early.
- First option is to save my money up in my free checking account which I could call my “future investment fund” and continuing sitting on 100% cash staying liquid without investing anything is in my opinion the smartest thing I could do in my current unstable situation. Once I find a job in Japan and I am well established I can reconsider my complete situation and start building my portfolio from scratch.
- Second option is investing a reasonable amount monthly to make up for the fees into VT while also putting money aside for the 6 months in Japan. Yes, 100% VT to keep it simple and on IB because they would still accept my new domicile unlike DEGIRO.
However, whenever I read the following quote I get torn on my decision…: “The best time to invest was yesterday, the next best time is today, and the worst time is tomorrow”
So yeah, that’s about where my horizon of worries go to for now and as for now I am hanging onto the first option, I wonder what your thoughts are on my current situation and I hope this makes sense, excuse my confusing English.
On this topic, anyone else currently living in Japan?
Best of wishes
EDIT: I’ve been a bad saver before I discovered FIRE, my current net worth is just about 10k