Jump to content
Sign in to follow this  
eee

What's the minimum money needed to retire in LOS

Recommended Posts

BelgianBoy said:

.

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

 

BB

 

Not much of a scarifice for some if no family, working in a job you don't like, wife or GF in thailand and just counting the days to going back.

I'm pretty sure I could live on the same amount over there that I do here, about $1000 a month. The only big extras would be medical costs, but then I could always come home for anything major. I think it's true that you don't miss what you never had, so big houses, big cars, big bank balance and big lifestyle would be things I would not have to do without. I wonder if the more you have and the more expensive the lifestyle maybe the more insecure people are?

Nobody knows how long there will be around for so it's a bit of a gamble when to clear off. I'd hate to save until 65 and being well heeled at last retire to thailand only to drop dead three months later with a big bank balance.

Share this post


Link to post
Share on other sites

have it your way,

----------------------

which is? ::

as you ask me often to re-read your posts, I kindly ask you to do so with mine. I said i am not interested to live solely in Thailand, I said I have a condo in Pattaya, i said any spending income would be after medical coverage. basically, no one knows my way, not even me, at this point, many unknowns (relative to years left to work, property in France, and of course, money in IRA and stocks, a moving target).

 

Just said one can live on 1500$ spending money in LOS, and be content. I do it all the time i am there, and for less.

 

Er....I have not worked hard, just worked, so maybe that's a difference there....... ::

Share this post


Link to post
Share on other sites

My property is a condo which farangs can own. My name is on the title deed. I "think" the rules are that the whole condo complex cannot be more than 50% foreign owned, and a farang cannot own a ground floor condo. These rules were relaxed after the currency crisis in 1997 to bolster the construction business, so that my complex is actually over 60% farang owned now. I think they've reinstated the rules this year.... but existing farang owners exempt.

 

Yes, if you buy an actual house outside of the "company" loophole, it has to be in your Thai wife/gf's name. So you may as well kiss goodbye to your money, unless you have a long and happy lifetime relationship. That setup definitely wouldn't suit a butterfly like me.

 

for eee,

I think I probably actually live on about 600,000 baht pa. But I budget for 750,000 comfortably ...without having to pay 5 instead of 10 baht for taxis and doing a runner before the driver chases me with a wheel brace. :grinyes:

 

:beer:

Share this post


Link to post
Share on other sites

G'day Chip,

Interesting that we both spend about the same amount to live here.

 

US$1200/mth *12*40.846 baht = 588,182 baht pa

55,000*12 = 660,000 baht

 

I spend 600,000 to 750,000 pa, but that includes some travelling outside LOS too.

 

I know a mate of mine (member of forum here also) lives on a retirement visa in Pattaya. Never has to leave, but reports to immigration every 3 mths. He must have 800,000 baht in bank, which he runs down over 12 mths, then tops up again, just before his annual visa renewal.

 

So much for the bean counting.

 

Regards,

Robaus (Anal retentive of Pattaya) :grinyes:

 

:beer:

Share this post


Link to post
Share on other sites
Old Hippie said:

It might be a condo, which farangs can own...

 

Did not know that...something to keep in mind, if the urge to relocate ever hits. But I'm still in my mid-30's, so not going to happen tomorrow, although lately I've become increasingly dissatisfied with life in the States. Unfortunately, I'm shackled down by the "golden handcuffs" for the time being, so would need to figure out another way to bring in a comparable income (upper-middle class). Really wouldn't want to move to LOS and be a poor English teacher (not that there's anything wrong with that) - maybe if I was 10 years younger, but don't want to live that way now. JMHO.

 

monkey39

Share this post


Link to post
Share on other sites

Not that it is a position I am considering at the moment, jeez after 15+ years in the Middle East and other Celubious enviroments a 40 hour week here seems like retirement, but it is a thought that occasionaly crosses my mind.

 

I'd have to side with the USD500,000 / STG 300,000 saftey net with an income concensus of opinion. Based on current exchange rates and a hypothetical 3.5% income from the lump sum, as previously pointed out on is looking at an income just shy of 60K THB.

 

If property is paid for 60K is fair enough to live a comfortable life in Thailand, but surely in retirement years, with all the free time available there is more to life than a subsistance of beer bars and rooting ... but then again we are all different.

 

I won't bore you with my long term retirement plans, but I have found the 4 corner pieces, the sky Edge is complete, only 2-3 pieces missing from the frame, now trying to complete the full picture.

 

Its all subjective

Share this post


Link to post
Share on other sites

I recently met the Lady that is Warren Buffets personal Stewardess. She makes in the nice neighborhood of $100,000 per year. I ask her what type of person "HE" was. A nice guy that is not completely satisfied with his life. She told me some other things that I can't put on the net, but with ALL of his money, he isn't a Happy Man.

 

I've made in the 80's, as high as $120K per year, after taxes! I don't have it now but if you ever meet me and I have a grin from ear to ear, I'm thinking about what I spent it on, a certain little blonde, 5'0", Eldorado, BOOZE, and more pretty women than you can shake you pecker at. My memories came expensive. I just hope you do not do what I did, Look Back and Wish I had that Money back.

 

GET ALL YOU CAN WHILE YOU ARE YOUNG!

Share this post


Link to post
Share on other sites
Goong_Ski said:

Wow...I guess my retirement budget of 8,000 baht per month is too low. I better start saving money now.

 

10'000 baht can be enough if you stay in the country side and you not enter the nightlife scene

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

×
×
  • Create New...