PhilAnders Posted November 29, 2006 Report Share Posted November 29, 2006 With 500K USD$' date=' You should buy a go go bar in Bangkok or Pattaya. Staff it up with all of the cuties you like as you may 'interview' them yourself, being the landlord. While you may not get wealthy quickly, you will have quite a bit of fun. :smirk: Cheers. [/quote'] Bar none, this is the worst advice yet offered. who? i must wonder, aside from magician, took what i said seriously and did not realise it was a joke? sigh. Link to comment Share on other sites More sharing options...
WorldFun Posted January 13, 2007 Report Share Posted January 13, 2007 so did he buy the gogo bar??? Link to comment Share on other sites More sharing options...
Ckrisg Posted January 13, 2007 Report Share Posted January 13, 2007 I just sold my house and retired from my job, at 47 yrs of age. I have about 500k (USD) no debts and no dependents. Next year, i will move to Thailand permanently. I parked the funds in the bank which pays about 6.6% per annum, which gives me more than i can spend. Should i seek out higher returns on my capital, or should i be content to cruise along with the bank interest, bearing in mind that i don't want to be exposed to any risk of losing my money. Cyberoy, as you stated in a later post buy a property and rent out to generate an income along with the interest. If I was 47 with that money I would go for it. Link to comment Share on other sites More sharing options...
Old Hippie Posted January 13, 2007 Report Share Posted January 13, 2007 I am 44, my analist says I need roughly 300X's my monthly needed income to retire...some formula...works out to I need 1.6 million, invested at something like 12%+ return, draw 4-5% a year, and I can basically stay afloat in comparable comfort...something like that... so in short...you don't have enough money to retire... Figure now you are 47? Good health? drink? smoke? history of heart desease? etc...? There is a possibility, a cvery real one, that you may have to at some point return to your home country for medical treratmernts, or to live if all craps out in LOS or wherever...visa laws change, right now, you don't qualify for a retirement visa... So ,many things to consider...I say invest the money in a higher rate of return, and go from there, more money means more security...perhapes JJ or one of the big financial dicks here will advise you... Link to comment Share on other sites More sharing options...
Dali Posted January 14, 2007 Report Share Posted January 14, 2007 6.6% guaranteed is actually pretty good. However assume inflation and currency fluctuations will eat away about 5% annually, maybe more (its likely a developing nation such as LOS will see currency gains over time and possibly above average inflation too, thus eroding your spending power). That doesn't leave much of a return to live on. Particularly if you are only 47 and will live another 30-40 years. To the folks who think it is EASY to get regular annual returns of 12 - 20% or more: Over the last 5 years that may be true, but not over the longer term. The S&P index is currently 63% higher than 5 years ago, and the NASDAQ is up 86%. The index doesn't factor in dividends, so add about 1% - 2% annually for that. But go back further... The current S&P 500 index is actually 3% BELOW where it stood at Dec 1999, and the NASDAQ is DOWN 39% from 7 years ago! Back in the 90's it was easy money to pull down big returns by investing in tech and everybody thought they were financial wizards by doing so. "Irrational Exuberance" is what the fed chairman called it. Then they got slammed big-time. The Asian markets have had big returns the last few years, but that is after they fell like a rock during collapse in the 90s. Japan's returns were great in the 70s and 80s, then for a period of 15 years their market was totally flat. A suggestion: I've done well for myself diversifying with quality mutual funds (I don't have the time to be following stocks). For me, I'm very comfortable with about 42% of my money in US large cap funds, 15% in mid and small cap, 33% in foreign funds and 10% in bonds and cash. I like to keep a portion in index funds (which have low expenses and are relatively safe), and the balance in funds that have a proven long term track record and whose fund managers have remained in place several years. There are some nice diversification funds out there to make it simple: The Fidelity Four-In-One Index combines 4 different index funds (55% S&P500 index, 15% mid/small index, 15% foreign and 15% bonds/cash). And the T Rowe Price Spectrum fund invests about 50% in US large cap, 25% in mid/small and 25% foreign. Good Luck! Link to comment Share on other sites More sharing options...
gene1944 Posted January 14, 2007 Report Share Posted January 14, 2007 Old Hippie said I am 44, my analist says I need roughly 300X's my monthly needed income to retire...some formula...works out to I need 1.6 million "your analist" said that??? I'd get a second opinion ....hmmm Link to comment Share on other sites More sharing options...
Ckrisg Posted January 14, 2007 Report Share Posted January 14, 2007 Cyberoy If you are totally pissed off with work and life in Aus, but as most of the posters have said you don't really have enough to retire, why not consider spending six months of the year in LOS and six months working in Aus to replenish or build up the nest egg. Link to comment Share on other sites More sharing options...
Old Hippie Posted January 14, 2007 Report Share Posted January 14, 2007 Old Hippie saidI am 44, my analist says I need roughly 300X's my monthly needed income to retire...some formula...works out to I need 1.6 million "your analist" said that??? I'd get a second opinion ....hmmm Sorry, should have said "financial analist." I lost the psycho analist years ago, said I made him nuts... Link to comment Share on other sites More sharing options...
Bangkoktraveler Posted January 15, 2007 Report Share Posted January 15, 2007 If I had one, I would call him an analist also. It sounds better then asshole. Link to comment Share on other sites More sharing options...
Old Hippie Posted January 15, 2007 Report Share Posted January 15, 2007 Glad you got that! Link to comment Share on other sites More sharing options...
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