How are you all saving for retirement? I’m looking for some inspiration about what’s possible in Taiwan
I currently deposit money into my Australian Superannuation fund and buy shares on the ASX using my Australian trading account every now and then.
My super fund’s investment returns have been really good but once I put money into it, there’s no way to withdraw until I’m in my 60s. I’m just a bit tired of paying for the SWIFT transfer fees. Also exchange rate fluctuations are a little annoying.
Does Taiwan have any accounts that work like superfunds where I just deposit however much money I want periodically and investments are made for me.
Has anyone opened a share trading account with a bank here?
TW has very limited retirement saving options, most people invest in the stock market, mutual funds or through life insurance schemes.
i would recommend that you stay with your Australian retirement fund, it is probably better than what you will find here.
to svae on transfers, just remit a bulk sum 3 or 4 times a year and deposit that.
trading here is possible, but not user friendly. eother you stick with your Australian account, or ipen one with inter active brokers. the TW brokers will slaughter you with fees.
I decided on salary sacrificing the extra 6% (I didn’t know I could do this until I read your link) into the pension fund and I buy mutual finds/ETFs through my bank as I can do it online without registering as a foreign investor which I’d need to do to open a share trading account (seems too much of a headache)
I will have four government pensions linked to inflation ranging in qualification age from 55 to 67 — the CPP and a civil service one in Canada and the State pension and a civil service one in Europe. Some of these come with lump sum provisions too.
That combined with real estate and hopefully inheritance should keep me off the breadlines.
Some minor savings in Canada, France (private retirement account) and Taiwan that have been dormant for a while.
Taiwan pensions for foreigners working in their government suck…reciprocity my ass!!! Were just paid a tiny percentage when contract ended. (early 2000s)
I pay unto Taiwan pension, and will get some CPP. Not planning to retire early, lots of people at universities teach into their 70s. Maybe in 10 years I’ll consider the Canadian university system again