Summary

A retiree in Playa del Carmen is considering an advisory position in the UAE with a $400,000 salary due to a tax treaty with Canada, weighing the luxurious lifestyle and financial benefits against the stress of another international move and time away from family.

Abstract

The author, who retired at 49 and moved to Playa del Carmen, is contemplating a lucrative advisory role in the UAE offered by a recruiter. The position comes with a substantial pre-tax salary of $400,000, which is further sweetened by a tax treaty allowing Canadian residents to earn income tax-free in the UAE. Despite the allure of financial security and a lavish lifestyle reminiscent of their previous stint in the UAE from 2018 to 2022, the author is torn between the opportunity to significantly bolster their retirement savings and the potential stress of relocating, impact on family ties, and the challenges of being a trailing spouse. The decision is complicated by the author's enjoyment of their current relaxed life in Mexico, the desire to be closer to family in Canada, and the emotional toll of frequent moves.

Opinions

The author is enticed by the high salary and tax benefits of the job offer in the UAE.
There is a strong nostalgia for the luxurious lifestyle they previously enjoyed in the UAE, including yacht parties and champagne brunches.
The author values the ability to save aggressively, which was facilitated by their time in the UAE.
Concerns about outliving their savings and the desire to avoid frugality in retirement are influencing factors.
The author acknowledges the stress associated with international moves and the complexity of relocating with senior dogs.
Family considerations are significant, including the author's role as an only child and their mother's solitude in Canada.
The work culture in the UAE is described as intense and high-pressure, with a sense of always being 'on.'
The author feels a pull towards re-entering the workforce to "slay again," suggesting a sense of unfinished business or a desire to prove oneself.
Despite the potential for increased financial stability, the author is keeping an open mind and has not made a final decision.

The $400,000 Curveball That is Making Me Consider Un-Retiring

I am still in shock

Enjoying the Playa vibes

At 49, I retired. That was in December 2023.

90 days in and I am finally relaxing into our new life in Playa del Carmen.

This is exactly the type of life I had envisioned for my ‘mini-retirement’ or ‘gap year.’

Warm, Caribbean breezes and vibes
Carefree days in the sun
A rich, diverse group of friends
Time freedom to do the things I love
Hosting friends from around the world

It’s perfect.

But then there was:

The ultimate curveball

A few weeks ago, a friend of mine reached out. He’s a recruiter from the UAE.

He wanted to know if I’d consider coming back to the Middle East.

With my experience and leadership expertise, he wondered if I’d be interested in an advisory position.

The equivalent, pre-tax salary would work out to USD 400K.

This is a jaw-dropping amount of money.

Life-altering, for certain.

But it gets better.

Unlike the US, where you pay tax based on your worldwide income, in Canada, I would pay no tax. This is because of the tax treaty between Canada and the UAE.

I have to admit, it is a compelling proposal.

Naturally, I’ve run the numbers.

Monthly expenses would be 30%. The remaining 60% would go towards travel and savings.

I’m torn

We lived in the UAE from 2018–2022. Life in the UAE is a dream, especially when you’ve got money.

Admittedly, the luxurious, extravagant lifestyle was incredible. Real Housewives of Dubai is accurate on that front. Not only them, but everyone we know enjoyed:

Yacht parties.
Luxury travel.
Champagne brunches.
A 6-star lifestyle.

Saving but also living large

When we first arrived in Abu Dhabi, I rented a Toyota Yaris. I wanted something cheap to drive in case I didn’t like it there.

Eventually, we decided to buy a car. We very nearly bought a Porche. Then we decided on a Lexus. At the last minute, we landed on a used Ford Focus.

I loved that hatchback.

I knew that if we wanted to maximize our savings potential during our time in the UAE, we’d be better off with our humble Focus.

It’s not just me — the most popular cars among the wealthy are Fords, Toyotas, and Hondas.

We saved a lot and lived a lot. It was a perfect blend.

There are very few places on the planet where saving 50% of your salary can shave a decade off your retirement date. The UAE is one of them.

From our nearly five years there, we hit our ‘work optional’ date in 2022. We had assets before, but the UAE was the gas to our fire.

But life is a lot more expensive than I expected it to be. I worry about running out or (worse) outliving our stockpile. Also, I hate counting pennies.

When it comes to money, there are only two options.

Spend less.
Earn more.

I am already a very conscientious spender. My days of frivolous spending are finished.

The obvious solution is to work more.

Why work for peanuts when you can make gold, right?

Three years in the UAE would add a lot of sparkle to our retirement. We’d be able to enjoy international travel again, layering in more peak experiences while we’re at our best.

In three years, I’d only be 52.

But.

The cons

I have written extensively about my midlife, existential crisis.

Moving from Dubai to Mexico to Canada and back to Mexico within one year is not for the faint of heart.

We have been floating between house rentals, housesits, and staying with family. We don’t have a home base.

The condo we bought here in Playa is delayed until April 2025.

We planned to occupy one of our houses in Canada, but the tenants refused to move out. When we are in Canada, we have been stuffed into my mother’s condo while we wait for the trial with the tenants.

First-world problems, yes.

Still — stress is stress.

Adding another international move makes my heart drop.

There are two senior dogs. Moving them is complicated, but admittedly, there are better options now in the Middle East.
I am an only child, and my mother, 76, is alone in Canada. Having said that, the UAE is her favorite place on earth.
We are aging, and so are our families. How much time do we have left with them? On the other hand, if not now, when?

Then there’s the issue of the trailing spouse. When my husband and I were there from 2018–2022, we expected it would be easy for him to find work.

But it wasn’t.

He was able to stitch together a series of short-term contracts, but I was the breadwinner. This happens in many marriages. One spouse lands the big career break, and the other trails behind.

Truthfully, being a trailing spouse was a good gig for him.

There was plenty of tennis and golf while he was in the UAE. During his contracts in Saudi, he enjoyed visiting many parts of the country.

Balance

The work culture in the UAE is intense in a way that’s difficult to explain.

No matter who you work for, indirectly, you are working for a Ruler. You can think of this as working for Royalty.

The UAE has some of the most progressive ideas and plans on the planet. They move fast. The expectations are exceptionally high, and failure is never an option. You are always on.

Challenging and rewarding, yes. Exhausting and all-consuming, also yes.

It’s good to have options

2024 is turning out to be a big year.

Not in my wildest dreams did I expect another once-in-a-lifetime opportunity to come my way.

We loved living in the UAE and miss our friends very much.

It’s a lot to take in. There are always pros and cons, risks and rewards.

Moving to the other side of the planet is a sacrifice in terms of the life I’m building here in Mexico that allows me to be closer to family in Canada.

Sometimes I have an itch to slay again. I’m good at what I do. This rest has allowed me to regain my power. I’d be showing up in a new way.

I have no idea how this will shake out, if it will progress, or what I will decide.

For now, I’m staying open.