I am a 44 year old guy that lives in a European country with high taxation and a government that is more concerned with climate change and handing out free gifts to the third world than fixing our countrys own critical problems that will make it highly questionable if we can keep our competitive edge and thus our wealth and - relative - social peace. To cut a long story short, my outlook for the future of Europe is very dark and I am seriously considering to move to a more promising place with a more sensible government.
Through business travel in Asia I had the chance to visit some old friends in Singapore and really fell in love with the place. The only two things that keep me worried are:
- will I be able to afford it, e.g. keep my living standard or at least do not have to lower it too much?
will I be ok with the climate in the long term (for the short visits I had it did not bother me, but I could imagine that it will get on my nerves to have the same temperature all year long, also I am a big Skiing fan)
I do know that it is very hard to get a decent job without a strong network or a company that could provide a transfer. Despite of this, I used the few contacts I had and have since then step by step built my network and I think I could find something in the medium term. However this will not be an extremely high paying C-Level position, more around 120-150k. Still would not be a problem if there wasnt an even bigger obstacle: I have three kids. I know that the most expensive things you can have in Sing are cars, rent and ... kids. And I have three of them. And a wife, that will not easily find a job.
I know that under normal circumstances, with this set up, it would be close to impossible to have a good life in Singapore. However, I am invested in several businesses and it could be the case that I will be able to sell my shares at a very high price. I will then be brutally taxed (above 50%) but there will still be a considerable amount of money left to invest. So with Singapore not having a capital gains tax, I thought in this scenario, a move to Singapore would maybe be possible, even with the bad starting position we have.
To give you an idea what I mean by living standards: I would like to live in a terraced house with a small garden and pool, maybe in the Bedok area and need to send three kids to International Schools. Other than that I dont think I need a lot of luxury. Dont need a car, will not go out often, maybe a vacation twice a year.
What do you think of this idea? Is it completely nuts? Is it even possible (assuming I will find an employer) or have I overlooked an important part? Looking forward to all your comments and advice (or trash me because I dont praise Europe;-), as said, at the moment it is only a mind game, and I am trying to figure out, what I have to consider to bring this idea closer to reality. Thanks in advance!