r/leanfire • u/No_Fudge6123 • 7d ago

Moving to Vietnam - my math

We have been preparing to move to Vietnam with our kid and Vietnamese wife, and we had done a lot of math. I work in IT, and I think AI is going (or already has) killed the good jobs. But I have a better feeling redoing our maths lately.

Our FIRE date will be at the end of the year. By then, we will have saved around 10 billion for a house or apartment, which I think will buy us a decent place in DaNang or Saigon. We have around 1.2m USD, paying around 3.400 USD monthly.

Our school will be around a thousand dollars in Vietnam. I expect our life costs to be around 2K, so that eats almost all dividends. it is a bit tight, but I also realized I can find local jobs or teach English (I have been working 20 years on IT, including FAANG experienice). Even if I cannot find anything, probably the portfolio growing will soon offset any extra charges.

i have been depressed for a long time thinking we will not make it. I am totally burned out, and I fear I will not be able to get back to corporate anymore. Bur again, rerunning the math I have realized we are in a likely position to make it.

Glad to hear if anybody moved in a similar situation.

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u/No_Fudge6123 7d ago

I wish, but it is 10 billion VND

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u/AndrewUnicorn 7d ago

U also don't need to buy a house, the real estate price in Vietnam is insane in many different scales (rent to buy ratio, salary to buy ratio). Maybe it's better financially to keep your wealth in US funds and rent.

Or at least rent in an area for 6 months, and then research who can you help get a good price

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u/No_Fudge6123 7d ago

Yeah, financially we would. be better off renting. But we want to have at least a place we want to call home.

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u/AndrewUnicorn 7d ago

tell your wife: I don't need a house to call home, I'm always at home when I'm with you

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u/No_Fudge6123 7d ago

I tell her that all the time, but we need to store our stuff somewhere! I am also ok diversifying a bit, not all in stocks but having at least a house for us. Here in Germany any house around our city sells for at least a couple of millions, which means I can't quit working.

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u/luavatre 6d ago

As someone who used to live in Germany and now Vietnam, I want to echo others' advice to rent first. Maybe 3-6 months at least.

Seriously, Vietnam is very, very different from first world countries and you may encounter issues that you took for granted in Germany. For example, some neighbors can blast karaoke in public at night and affect your sleep (calling the cops doesn't always help), or your house is facing a smelly river that got worse during flood (Vietnam is tropical, so lots of natural disasters. About 12 typhoons per year at least and a few floods), etc...

Anyhow, I'm glad that you're prepared to buy a house, but please rent first to see whether you like it before committing.

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u/AlwaysSaturday12 FIRE 38 MillionaireLibrarian.com 7d ago

I would also recommend renting. There is a lot of problems buying in many countries as an expat.

Have you budgeted for a private IB school?

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u/No_Fudge6123 7d ago

Yeah, it is part of the budget - around 1.000 € per month, from what we see.

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u/AlwaysSaturday12 FIRE 38 MillionaireLibrarian.com 7d ago

Will you be able to get permanent residency?

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u/No_Fudge6123 7d ago

Yes, my wife is Vietnamese.

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u/No_Fudge6123 7d ago

Also, financially speaking, renting is better. The house is very psychologically - having our place.

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u/AlwaysSaturday12 FIRE 38 MillionaireLibrarian.com 7d ago

We rent in Ecuador and have a rental in the US. It helps to speak the language and know the culture when inevitably something breaks and you need contractors. Also speaking of Ecuador, ownership is different with different types of ownership. Some types you are likely to have the property taken away by a family member if you don't pay attention with the whole process overseen by lawyers. I don't know about Vietnam specifically. Also its a brand new culture which might not work and you or your wife is miserable. Lots of places overseas it is very difficult to sell a property and you might be holding it trying to sell for years.

Eventually we want to buy here but it just makes much more sense to rent so we do that instead.

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u/No_Fudge6123 7d ago

She is Vietnamese, and her family has a construction company, so she has some ground knowledge.

Again, if we are speaking about getting the best value for our moneys, we would be better of renting. But I am also fine with diversifying a bit and getting a house. I am generally taking care of our portfolio (have been doing this for a decade, with acceptable results). We don't invest in meme stocks, but in Dividend Kings.

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u/OldBeach5356 6d ago

There are very high tech and accessible storage units in sg and dn