What is your retirement plan ?

[Khun Prasert]

Referring to the other thread on cost of life on Suk, as well as other threads on other boards referring to monthly budgets as low as 17K Bt per month (!!!) and (still) having a good life, I wonder what your retirement plan is.

 

My philosophy is that I want to spend my old days in and with at least as much luxury as I lead my now active life. I have no need to spend the rest of my days buried in a hell hole in Isaan, and with this I mean no disrespect for any retirees who choose for that life.

 

Also, I dont forget that one needs house insurance (we already own our house in Thailand), car insurance, health insurance, electricity, water, internet, TV, petrol, car maintenance, entertainment and food, and I certainly want to be able to travel from time to time. Medications and hospital bills should not be forgotten as well.

Call me meticulous maybe, but others are definitely very careless in their planning.

 

Most people forget inflation, Mekong mentioned it in another thread, but did not calculate it in his example. Say you have a lifestyle of 100K Bt today, and that inflation is 3.5 % PA, in 10 years, your 100K Bt today will be worth only 70,078 Bt, 10 years later only 49,040 Bt, less than 50 % of your needs.

Turn it around, if you need 100K Bt today, you will need 141,060 Bt in 10 years and after 20 years that is 198,979 Bt, exactly double. Wanna live longer, plan even for more !

Then again, you can always gamble that inflation will be lower, play the Lotto or play the stockexchange, but inflation will not dissapear because you want to.

 

The last 10 years we have regularly invested in land and property in the HuaHin region, as well as invested carefully in the stockmarket, and today we are nearly safe from disaster. I am in the Suadum / Mekong clan with regard to income, planning and spending. I am 50 now, and I will have a chance to retire at 55 or even better at 57 years old without losing too much income / pension.

So, a few more years hard labor for us here in Belgium, with 3-4 golfgames per week, regular citytrips around Europe and 2 trips per year to Thailand, and then we move to Thailand to retire.

 

So, how about you ?

 

 

 

 

 

 

[drogon]

Good that you managed to do well.

 

About me?

I am 31 so lot of time to save more:

Would like and plan to retire at 40-45 maximum.

 

Agree that in 10 years 200K might be more than needed to keep a decent living.

 

Steps:

 

- Continue to move from project to project which means that in 3 years I can hope to earn a quite good salary.

 

- Will buy a condo in bkk this summer -> "cash" so to say (international wire transfer due to Thai regulations) that I will probably not rent but rather sell in a few years or keep for myself.

 

- In two years I will finish paying my condo back in Europe, which I will sell (already been offered 6 times the price I paid it), was a very good investment.

At the moment it is rented.

 

- Will get in 1 or 3 years a condo from my family or the equivalent amount in euros.

Family decided to offer us (me, my brother and my sister) a part of our heritage so we can invest it ourselves.

 

All in all in 5 years:

- Should have a good capital coming from my monthly savings + the sale of my condo + money from my family.

 

Will see by then in what to invest.

(never liked the stock market, only ever believed in condos)

 

 

 

 

[Khun Prasert]

drogon,

 

Good plan if you stick to it.

As for the stockmarket, wife works in IT dept of Belgiums' largest bank, and has daily access to free info from coworkers. Sofar, that worked well for us. As for receiving money from parents, dad was self-employed and my 2 brothers and I are paying monthly to support them, because he grossly miscalculated back then. He gets 700 Euro monthly.

Probably the reason why I am overcautious.

[The_Munchmaster]

I just posted this on another thread but more appropriate here.

 

A very simplistic scenario, but quite interesting.

 

If you retired with GBP 1 million in the bank, which is about Baht 60 million, invested it at 5% and lived on about Baht 238,000 per month, you'd still have your original 60 million in the bank, 25 years later!!

 

[Guest lazyphil]

if ifs and ands were pots and pans!!!!

[The_Munchmaster]

Indeed.

[drogon]

Ouch sorry for the Dad.

 

Sure it helps to have your wife there...

 

Did a bit of money playing with the stock market but deemed it too unstable to invest seriously into it.

 

I am afraid that I will probably never have

1 millin £ to put at 7.5% return...

 

-> love spending too much while I am still young and do not think that I will leave until 70.

(not suicidal at all just that due to my time in Africa this is quite a certain thing that I will probably not pass 60)

 

So, my investment is aimed at: Always to have a house/roof, always have money sleeping somewhere.

Just not too much....

(anyway I am damn lucky to have my parents who invested wisely during their life)

[teddy]

Over the long term, the stockmarket is by far the best investment for building up a pension. As long as you know how to minimise the risks as you get closer to retirement.

 

Even through retirement it is still a good idea to hold some high income bluechip shares.

[The_Munchmaster]

These days, for someone who has invested in property, a million pounds is quite an achievable amount of money.

[The_Munchmaster]

....love spending too much while I am still young and do not think that I will leave until 70. (not suicidal at all just that due to my time in Africa this is quite a certain thing that I will probably not pass 60)....

Presumably you meant to say that you don't think you will live until 70?

 

Why would previously living in Africa kill you by 60?