The magic figure

[gobbledonk]

OK, this is an eternal favourite, but what does it cost to be able to retire to the LOS now that the US dollar has taken such a pounding ? Lets assume we are talking about a 55-year old in good health, no desire to teach but able to find investments which keep pace with inflation (!) etc : the list of variables goes on and on, but you get the picture.

 

My guess is that we are now edging toward the USD 600K mark, if not 750K. The good news is that the Pacific Peso is gaining ground on the greenback as I type this ::

[BelgianBoy]

Artie,

 

Its the eternal question again as well : how much are you going to spend ?

Live upcountry with GF in small village, or live in BKK / PTY and go out to booze and whore every day ?

That is the question, na ?

 

Then inflation, health insurance, longitivity, etc are also to be taken into account.

 

BB

[Torneyboy]

Hi artiew.

 

A bit like how long is a piece of string.

A lot of things to budget for and a few unexpected things as well.

 

As BB mentions....if you are going to stay in a little village way up north....you will be flat out spending AUD$20 a week!!

Not the best of living ..but can be done.

[Nervous_Dog]

Artie I have seen this askedd many times and someone at least once posted a web sote with a qualculation there, based on desired amount per month, your age, how much you have now etc.

 

I know I did it, was very good, I am going to work till I'm 103 it seems!

 

DOG

[gobbledonk]

I am going to work till I'm 103 it seems!

 

Welcome to the club, ND ! USD 700K is a long way north of my current net worth, but we routinely have someone asking 'how much will it cost me to retire in the LOS ?', and the last figure thrown around was 500K.

 

I agree that it 'all depends', but I'm sure that the first few months would see almost anyone enjoying their newfound freedom and spending more than they had originally budgeted, followed by a 'reality check' and a more disciplined approach, but I could be way off. We need some feedback from someone who has taken the plunge and is now a couple of years into the adventure.

[thalenoi]

Ok, i will reluctantly confess....

 

Gave the budget to the gf.

checked her spending over the last 12 months, 17.500 baht/month plus rent I pay 5k equals 22.500.

we eat in beach restaurants whenever we like, around 200 baht/meal, we don't drink nor smoke, buy whatever we need.

Spending includes electricity with one airco running 9 months/year (600 baht/month), telephone and internet (600 baht/month)

 

The idea behind her controlling the budget is to save money to build a house, it works....she still sends occasionnally money to her parents, I guess 15-20k this year

 

She just bought her most expensive jeans ever, 2500 baht for a Levis....

 

We do live far from expensive and ugly Bankok though

This does not include my bi-annual trips to ColdWetLand however.

Other occasionnal expenses I offer such as microwave, DVD reader etc

[Zorro]

artiew

 

I am not usre why a man if he is healthy would want to retire at 55.

I think semi retirement is a better option in which case you could probably go and retire in Thailand for as little as 200K US.

Invest that at a for a net return of 5% which would give you about 40,000 baht a month and then teach perhaps or something else for another 20,000or 30,000 baht a month and you would have a liveable amount of money.

It is better to be active in the work force to enable you to meet people and network and give yourself a purpose besides which at 55 you cannot really engage in drinking and shagging all the time.

Can you retire in Thailand and still pick up an Aussie pension?

[rickfarang]

"I am not usre why a man if he is healthy would want to retire at 55"

 

I am not sure why a man, if he is healthy, would pass up a realistic chance to retire by 55.

[Nervous_Dog]

Because he wants to keep his brain working.

 

Oddly enough many companies, even though I cunt write, want me to work for them, but I'd rather do my own thing.

 

If I couldn't do what I do now, I'd go nuts.

 

Work for me is my life, and visa versa, and sometimes that happens

 

I've mates here who have "Retired", some of those lucky buggers at a age below 40, and now, they are going nuts, their brains yell out, feeed meee, feed me something interesting to do, while their small one eyed buddy says FUCCK IT

 

DOG

[Guest]

I know one teacher lives on 1000 baht per week (rent is free) and then spends the rest of his money on sharing girls.

 

I know another falang who wants to retir early (no pension) and claims he can live comfortably on 10,000 baht a month.

 

If you want to retire, think about having a hobby/job such as writing and photography.

 

If you want to really make money but not work much, think about what products you might want to sell wholesale to people back home. Connect with a dozen small stores and you might be able to have a decent income. If you go this route, try getting a product that is small (not costly to ship), is rare (means you can mark it up 10 times or more) and will not take up much of your time.

 

As for living expenses per month:

12,000 baht for apartment

6000 baht for food

3000 transportation

2500 baht clothing

etc., etc.

 

Each of the above figures you can cut in half or quarter it and still live okay.

 

100,000 baht per month will allow you to part everyday and to travel internationally.

 

20,000 baht will allow you to live comfortably but conservatively.