What's the minimum money needed to retire in LOS

[Chlp]

eee said:

Robaus. I guess i wanted to hear from a person with a similar situation. Similar interests and life style. Like I have stated before i did have a ball park figure as to how much was enough. I live very modestly here in the states. eee

It costs me about 25,000 Baht a month to live in BKK, comfortably. That includes rent for a studio in an area of my choice, utilities, broadband, health insurance, BTS, cell phone, and food.

 

I mostly eat Thai food except 2-3 times a week. I used to have a 3-bedroom house in my home country. I prefer a studio, though may upgrade to a 1 BR. Which will add about 3-5,000 to my budget.

 

This is in Bangkok. Pattaya would be roughly the same.

 

I spend about THB 30,000 per month on nightlife. I party hardy on the weekend. I do other things on weekdays.

 

I live on about USD 1,200 a month. One could easily spend twice that, or more. Get a 3 BR condo around Phloenchit. Eat Chicken Cordon Blue at the Conrad every night. Barfine at Angelwitch 5 times a week.

 

Just depends on what your desired lifestyle is. I know quite a few people who live on USD 1,200 - 1,500 and are very happy. Many could affort to spend twice that much and don't, as this is their chosen lifestyle.

 

The biggest caveats for the long-term planning are (and most have been mentioned by other posters):

 

- inflation

- a slow but definite trend for Thailand to turn into a "fully developed country" (like Taiwan or S Korea have in the recent past)

- sudden political and/or violent change

- health issues

 

A word or two about health insurance.

 

I use BUPA Thailand for health insurance. Their Personal Emerald coverage is probably adequate for anything serious but not catastrophic. Costs about THB 15,000 -20,000 per year if you are in the 45-55 year bracket. The Platinum Care packages have much higher limits and probably are comparable to a typical coverage in the US. The cost is roughly THB 35,000 - 50,000 per year for 45-60 year bracket. All include medevac.

 

That's for inpatient only. You can add outpatient care as an option and it will add about THB 10,000 per year. Most people I know, including myself, prefer to pay for an occasional hospital visit themselves, about 500 - 1,500 for a typical visit which may include an X-ray.

 

You can download the coverages from their Web site.

[Sukhumvit]

To no one in particular.

 

It all comes down to what your own personal needs are.

I don't care for the finer things in life. Expensive clothes, cars, gadgets are all distractions from real life. I'd need enough for some books and perhaps music but not much else. Maybe a decent bottle of scotch every so often. Been on the corporate route to high wages, saw people getting fucked up on coke and booze. It's not all it's cracked up to be. A simple life is much more pleasant. Money's not so good but hey nothing's perfect.

 

A guy I'm on very good terms with here has just got himself a brand new S class Merc. His missus has a rather snazzy Merc sports car. Owns stacks of property/land. Companies registered in tax havens. A real old fashioned millionaire. He's not particularly happy. Stressed out. With the cash comes envy. I think he finds it difficult to trust people to see whether they want to know him or his greenbacks. Loads of court cases against him for all sorts of bollocks. His needs are essentially very simple. He lives fairly frugally, doesn't go in for flashy clothes or expensive habits, apart from the motors. When we have a bevvy it's not in the latest happening restaurant but in straightforward old fashioned boozers. I reckon he'd get by on 2-3000 US in Thailand with ease.

 

Personally, I'd probably be alright on 1000 US. Happy in old clothes and with a beat up computer.

[BelgianBoy]

Chlp said:

It costs me about 25,000 Baht a month to live in BKK,

 

I spend about THB 30,000 per month on nightlife.

 

I live on about USD 1,200 a month.

does not add up here......

[khunsanuk]

Hi,

 

1,200 US = 60,000 Baht.

 

25K + 30K = 55,000 Baht

 

Where doesn't this add up?

 

Sanuk!

[japio1]

1200 USD is 48,000baht against 55,000baht, not much difference, but it does indeed not add up.

[japio1]

if accommodation and a car is paid for, someone could comfortably live on 1,500-2,000 USD(60,000-80,000baht), incl golf, trips upcountry and in the region, mobile, internet, frequent nights out, health insurance etc. both in BKK and Pappaya.

 

Currently I work in BKK, spend a lot, and hardly ever spend more than 2,500USD month. I do have a company car, housing, utilities, mobile etc. So I guess that with a slightly modified life style one can easily live very comfortably on 2,000USD with the current cost of living in Thailand. 1,000USD even with acco and car paid for would be insufficient in my opinion.

[BelgianBoy]

After re-reading the whole thread, it looks like there are 2 camps here.

Those who want to live here at all cost, and those who want to keep the same lifestyle as before retiring to LOS.

 

Those willing to compromise would be here at all costs, burn bridges, renting a small room, not go out, eat streetfood, count money to months' ends. Fine by me.

I just do not understand why one is willing to sacrifice his total lifestyle to be in LOS, especially when one gets older !

 

But I am not willing to compromise at all !

I want to keep at least the same lifestyle as I have now, not be limited in my movements because of financial restrictions, not rent a 15 meter square small room, not having to eat streetfood all the time (streetfood can be very yummy BTW - dont understand me wrong), and I certainly do not want to spend my time in beerbars all the time.

 

Hence, I repeat that I want at least a min today of 2500 $, without housing, car and medical expenses. Plus having a decent capital for unforeseen circumstances.

To each his own and YMMV as suadum would say

 

BB

[khunsanuk]

Hi,

 

"1200 USD is 48,000baht"

 

Oops , my bad.

 

Sanuk!

[pattaya127]

Hi, BB

 

I actually think, except JJ so far, we are all of the same mind. 2500 seems a very good and reasonable sum (closer to 1500 than 10000) , but people answered thinking they might not exactly be able to guarantee this sum , especially if some of the income is to be kept for 1 or 2 trips abroad to visit family a couple weeks for example, and pay a medical coverage.

 

I am not sure about lowering lifestyles, really depends how we enjoy the place, i an urban fashion, with a lot of activities that ask for some spending, or more retired and being less active.

 

And for many, retirement, even back home, will necessitate a readjustment of lifestyle based on lower income.

 

If I take out nightly entertainment, my expenses in LOS are below 1000 bahts a day, easily if in Chiang Mai, but with the condo bought in Pattaya, there as well. And i am content with it, with no reall thought i am lowering my lifestyle, which again, is a notion based on a personal assessment of what we need in life, to make us happy.

[BelgianBoy]

pattaya127 said:

Hi, BB

 

I actually think, except JJ so far, we are all of the same mind. 2500 seems a very good and reasonable sum (closer to 1500 than 10000) , but people answered thinking they might not exactly be able to guarantee this sum , especially if some of the income is to be kept for 1 or 2 trips abroad to visit family a couple weeks for example, and pay a medical coverage.

Again, you might want to re-read as I suggested previously

I wrote USD 2500 + housing + car + medical expenses ........ might be closer to USD 5000 per month, na ?

As for the rest, have it your way, I did not work hard all my life to live the end of it in misery, but to enjoy the rewards of hard work.

 

BB