Money has been a taboo topic in my extended family for most of my life. Actually, it has been so on both sides of the family. As some of you know, my father worked hard in his career and created a fortune. After his death, my mother spent that fortune. This would not have happened if my mother and siblings were more financially literate. Because of this situation, I want my immediate family to be transparent and collaborative when making financial decisions.
Since I am going into semi-retirement as of August this year and full retirement, if my health remains good, in 2-3 years. This is the right moment to get an overview of my and Giui's financial situation in the near term, during my semi-retirement, and when we both retire.
So, I went to our tax advisor this week to determine what I would earn during the next years. It appears that if I work eight days a month during semi-retirement for the next 2-3 years, I will bring home the same amount of money as I currently am working four days a week. Very good news indeed!
This is because I will not be paying retirement insurance or unemployment insurance and will receive my monthly pension. You might think my pension would be the most significant contributor, but that is not the case.
The reality is, once I go into full retirement, I will only be earning 30% of what I am making now. When Giui goes into retirement, we will have a combined income of just over 55% of our current monthly income. And this income is still taxable.
The lean years are coming, and it is my wish that Giui and I do not see this as a bad thing. We have his mother as a role model. She is someone who worked hard until she was 70 and now, at 83, she is still capable of living with a very modest income and is content with her lot.
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