Taiwan's future and my pension

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Taiwan's future and my pension

Postby Icon » Mon Dec 03, 2018 22:46

I am really worried about how soon is Taiwan going to be swallowed up by China. I am still a good 15 to 20 years away from retirement, God willing my health hangs in there. I am concerned whether there will be a government to pay me my retirement money. I already lost my funds in the old country to volatile markets and corruption. I know that is not the case here but if China takes over, what will happen to our funds?
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Re: Taiwan's future and my pension

Postby Dragonbones » Tue Dec 04, 2018 12:14

I can only speculate. If the KMT at some point cuts a deal with China it might involve China honoring Taiwan's debts, pensions and so on. If it's a more aggressive takeover, NTD might become worthless, along with debts and pensions. Or the CCP might honor them in a bid to minimize resistance. What do you think?
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Re: Taiwan's future and my pension

Postby cranky laowai » Tue Dec 04, 2018 12:37

Beijing would still want to have at least some people on its side, and the blue-leaning civil service would be a good place to start. So, even if worst comes to worst, there will probably be money for pensions -- minus certain "handling" charges along the way -- for at least those who don't rock the boat too much. For others, the local laogai camp may provide housing....

Me, I'd probably end up somewhere in the middle: on the streets with a sign:

Will tell you what's wrong
with your website
for food

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Re: Taiwan's future and my pension

Postby Toad » Tue Dec 04, 2018 14:54

No way of knowing really.

My view is that governments in general are going to gradually stop honoring their pension commitments. I don't expect the UK government to give me anything back for the massive amounts of money I've paid into their piggy bank - or if they do, it'll be when I'm 86. My strategy is to have a plan B and a plan C in place so that, even if WW3 kicks off, I'm at least going to have a roof over my head and food to eat.
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Re: Taiwan's future and my pension

Postby Icon » Tue Dec 04, 2018 18:51

That is what really worried me. In the old country, your deed is worthless, anyone can take your properties and clear your bank account, and that is on a good day. Heaven forbid they start another civil war or worse.

The other foreigners in the office have the advantage of having their old places to rely on. They have extra retirement funds in Europe or US. I wonder what will happen with Taiwanese investment in the US.

GEE thinking about the future makes one want to live as a hermit in some remote island.
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None of us are getting out of here alive, so please stop treating yourself like an after thought. Eat the delicious food. Walk in the sunshine. Jump in the ocean. Say the truth that you’re carrying in your heart like hidden treasure. Be silly. Be kind. Be weird. There’s no time for anything else
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Re: Taiwan's future and my pension

Postby Corns » Tue Dec 04, 2018 19:04

Diversification is the key. Open an offshore account and put some of your savings there. :twocents:
You're actually a nihilistic sociopath wrapped up in a Canadian flag pretending to be some giant intellect tapping away from a southern French shed.---Broonale

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Re: Taiwan's future and my pension

Postby Toad » Tue Dec 04, 2018 21:26

Icon wrote:thinking about the future makes one want to live as a hermit in some remote island.

You already do :)

It's a lot easier to open offshore bank accounts and whatnot than it used to be. Do a bit of Googling - there are various companies (some of them legitimate!) that will help you do this sort of thing. However, bear in mind that money is not real. It's all just paper (or numbers on a screen) which has value purely because some government says it does. In the event of global collapse - a small but finite probability - you would most likely lose all or most of your savings.

My suggestion would be to invest in land in a country with strong property laws. Obviously, not all countries allow foreigners to do this, but many do. The UK does, for example.
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