Hi all,
I have been thinking for a while now about the kind of life I want to live in the future and I have a couple of questions about IT in that respect.
1) I like the lifestyle you have if you work for schools abroad, the travelling, etc. At the same time I'm trying to think ahead also. At some point one might want to settle down at a particular place. How common or uncommon is it for IT to do that? As far as I understand there is usually a relatively high fluctuation of both teachers and students in IS. But in case you fall in love with a particular place and want to buy property for the long-term, is it possible to settle down somewhere as an IT or is it rather difficult and you need to be able to move throughout your career?
2) As an IT is it a problem if you want to take one or two years off? I don't mean in terms of the contract. Because anyway most contracts are fixed for two years as I understand. But I mean would that have a negative effect on later employability or wouldn't it be a big issue?
Maybe a few of the veterans here could shed some light on it. I'd really appreciate it.
Lifestyle of IT - flexibility and settling down
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panta_rhei
- Posts: 49
- Joined: Tue May 14, 2013 10:46 am
The best international schools usually have quite low turnover, which means that teachers can (and do) stay at the same school for an extended period of time. I'm new to international teaching as well, but I would guess that so long as you are doing your job well (and not pissing anybody off) you can usually remain at your current school for as long as you please.
I say *usually* because in life (and especially in - schools) there are no certainties. There is no guarunteed job security in an international school - once your contract is up, its entirely up to the school whether or not they want to renew it. That said, recruiting new teachers is expensive and time-consuming. Most admin would rather hire a teacher who will remain put at the school for 5+ years rather than someone who will just complete the minimum 2 years and take off.
I say *usually* because in life (and especially in - schools) there are no certainties. There is no guarunteed job security in an international school - once your contract is up, its entirely up to the school whether or not they want to renew it. That said, recruiting new teachers is expensive and time-consuming. Most admin would rather hire a teacher who will remain put at the school for 5+ years rather than someone who will just complete the minimum 2 years and take off.
Our 'plan' is to find somewhere to settle down eventually. We are in our early/mid-40s and in our second year of international teaching (in fact it's also our second year of full time teaching - period), in what I think most would call a lower second tier school. We want to move on to another school next year or the year after, but only if we can step up in terms of country or school. We'd like to do three or four years there and then step up to a better school and stay there for the long term.
There are a few reasons for this;
1) I'd like to find that long term school before I hit 50 (I'm slightly concerned about ageism);
2) We'd like to provide long term stability for our daughter who will be hitting 13 when I reach 50.
3) We need to save for retirement, which will be easier to do if we stop moving around.
I can't see us moving back to either of our home countries unless one of us has a serious illness and we're looking for long term state provided medical coverage.
We currently don't own a property, but will probably buy in the next three or four. We'll buy in one of our home countries, because for me, that at least feels more secure than buying overseas. Obviously, this will depend on where we end up.
I have this image of retiring to somewhere like Penang in Malaysia, which already has a large expat community, many who are retired, English is widely spoken and life is relatively cheap. However, we don't know what will happen in 15 to 20 years and the draw of living near our children may ultimately change our view of where to settle.
There are a few reasons for this;
1) I'd like to find that long term school before I hit 50 (I'm slightly concerned about ageism);
2) We'd like to provide long term stability for our daughter who will be hitting 13 when I reach 50.
3) We need to save for retirement, which will be easier to do if we stop moving around.
I can't see us moving back to either of our home countries unless one of us has a serious illness and we're looking for long term state provided medical coverage.
We currently don't own a property, but will probably buy in the next three or four. We'll buy in one of our home countries, because for me, that at least feels more secure than buying overseas. Obviously, this will depend on where we end up.
I have this image of retiring to somewhere like Penang in Malaysia, which already has a large expat community, many who are retired, English is widely spoken and life is relatively cheap. However, we don't know what will happen in 15 to 20 years and the draw of living near our children may ultimately change our view of where to settle.
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shadowjack
- Posts: 2140
- Joined: Sat Oct 06, 2012 9:49 am
Roberto,
our property makes us about 25% a year before taxes. After taxes, about 22% a year. Where will you find an investment that pays you that, year in and year out?
Of course, we are fortunate to have a house in the right place and to have bought at the right time. However, it pays our mortgage and eventually, will contribute to our retirement fund.
Just my thoughts - property pays a monthly dividend. Stocks are much more volatile and often, unless you have a lot, will not provide you with a monthly income.
I am not saying don't invesst; however, I believe property to be an essential part of any portfolio where you will need a monthly income stream upon retirement.
our property makes us about 25% a year before taxes. After taxes, about 22% a year. Where will you find an investment that pays you that, year in and year out?
Of course, we are fortunate to have a house in the right place and to have bought at the right time. However, it pays our mortgage and eventually, will contribute to our retirement fund.
Just my thoughts - property pays a monthly dividend. Stocks are much more volatile and often, unless you have a lot, will not provide you with a monthly income.
I am not saying don't invesst; however, I believe property to be an essential part of any portfolio where you will need a monthly income stream upon retirement.
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panta_rhei
- Posts: 49
- Joined: Tue May 14, 2013 10:46 am
Thanks for your responses!
@danny: Good to know that to stay at a school for an extended period of time is not that uncommon :)
@IAMBOG: I didn't quite get your last part. You say you can't see yourself moving back to your home country but you plan to buy a property there?
@Robert: I didn't mean to purchase property exclusively as an investment but rather for personal use!
As far as I'm concerned I have this dream of owning a small farm at some point and live a largely self-sufficient life :) Maybe in south/central america where property prices are relatively low and the climate is very nice.. I think it's a good retirement plan if you own your own property and are able to produce your own food (combined with some savings).
@danny: Good to know that to stay at a school for an extended period of time is not that uncommon :)
@IAMBOG: I didn't quite get your last part. You say you can't see yourself moving back to your home country but you plan to buy a property there?
@Robert: I didn't mean to purchase property exclusively as an investment but rather for personal use!
As far as I'm concerned I have this dream of owning a small farm at some point and live a largely self-sufficient life :) Maybe in south/central america where property prices are relatively low and the climate is very nice.. I think it's a good retirement plan if you own your own property and are able to produce your own food (combined with some savings).
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panta_rhei
- Posts: 49
- Joined: Tue May 14, 2013 10:46 am
Reply
@panta_rhei
ITs have a dream. Somehwee they see themselves wanting to be, and ingeneral its either somehwere in europe, where they get socialized medical care and a pension or its somewhere in Asia/SCA where the living on the economy is super cheap. Guys tend to go to asia. Couples tend to go to the EU.
Once an IT gets to where they want to be they do settle down. Most of these are top tier schools. The mobility we often discuss is in the lower tier schools and less desirable regions you go through until youve built your resume and get the dream job. This is why the top tier schools have such low turnover, people stay.
You can but property in just about any foreign country, if not personally you can do so as a corporation or through a local commercial vehicle (typically a local law firm that has a long term reputation of holding property for expats).
Taking a year off is usually the "limit" when explaining a gap on your resume. You needed a break or vacation and because schools are a yearly hiring profession you cant just go back to work when you want too. ITs have taken a year off drinking rum and coke on a beach in Thailand, and reentered the profession. Any longer then a year and your resume and skills start getting "dated".
ITs have a dream. Somehwee they see themselves wanting to be, and ingeneral its either somehwere in europe, where they get socialized medical care and a pension or its somewhere in Asia/SCA where the living on the economy is super cheap. Guys tend to go to asia. Couples tend to go to the EU.
Once an IT gets to where they want to be they do settle down. Most of these are top tier schools. The mobility we often discuss is in the lower tier schools and less desirable regions you go through until youve built your resume and get the dream job. This is why the top tier schools have such low turnover, people stay.
You can but property in just about any foreign country, if not personally you can do so as a corporation or through a local commercial vehicle (typically a local law firm that has a long term reputation of holding property for expats).
Taking a year off is usually the "limit" when explaining a gap on your resume. You needed a break or vacation and because schools are a yearly hiring profession you cant just go back to work when you want too. ITs have taken a year off drinking rum and coke on a beach in Thailand, and reentered the profession. Any longer then a year and your resume and skills start getting "dated".