spirit_of_town_hall Posted January 26, 2002 Report Share Posted January 26, 2002 I am thinking of selling what little I have here and upping sticks permanently to LOS. For you guys there in your twenties thirties and forties and who are not on western expat salaries do you worry about retirement. If you are not contributing to a pension what will you rely on when you are old, are you relying on a parents legacy? Or will you work partime until the grim reeaper comes for you? Link to comment Share on other sites More sharing options...
Bembaman Posted January 30, 2002 Report Share Posted January 30, 2002 I am surprised there are not more posts here SOTH. The real question is whether one will go back in the future. If yes, then the length of time one spends here is critical. Yes, I do worry, but I am keeping up my UK pension entitlement in Voluntary Payments. Just a tip for any readers, they will ask how long you intend to be out of UK for. The answer they are looking for is 3 or 4 years, not much more than that. It does not subsequently matter if it is longer, but there is no automatic entitlement to have your VP account application accepted, it has to be 'approved'. I think if you come out with the fact you are never returning you may well find some 'small print' appearing. I have just been through the process. If anyone wants a copy of a pdf explainig all this contact bembaman@yahoo.co.uk I also pay into a private offshore scheme about 20% of my salary. I can probably expect a reasonable legacy. I should be OK hopefully. If I do stay here I do not envisage massive financial problems, but if I stay here a long time then have to go back, I would expect to be in the shit. I will never go back to UK permanently anyway, shite place I am afraid to say. My advice would be to rent out your property in UK if you have one. You will get capital growth and an income. You will have something to fall back on if things do not work out here. It is worrying but I find I do not worry about things so much when living here anyway. LOS..... Link to comment Share on other sites More sharing options...
Stickman Posted January 30, 2002 Report Share Posted January 30, 2002 I don't really worry about it - though I made plans, and have been following those plans, for many years. I have a scheme back in my corner of Farangland that I continue to add to and monitor. Unless things go bang, it means that I should be able to battle on here without having to worry about retirement worries at this end. Quite a few guys I know do similar, with most having their retirement scheme back in Farangland too. Stick Link to comment Share on other sites More sharing options...
whosyourdaddy Posted January 31, 2002 Report Share Posted January 31, 2002 Yes that is one of the looming risks of living in Thailand. I myself send about 25% of my salary to an offshore investment broker. That should be enough to keep my in happy in retirement. But I still dont want to give up my canadian persion plan. I have to work another 12 years in Canada to qualify and will do so in order to get the CPP/ old age. But knowing the canadian goverment there will be no socialist funds left in the old age plan when I am older. A few years ago, I was working for an average langauge school and this 40 year old guy came up to me the day before pay day and asked to borrow 1000B. At that exact moment in time, I decided that ESL teaching would not cut it and decided to look for a better paying job or return to farangland. I was not going to be 40 years old without a penny to my name and a very limited future in terms of building a nest egg. So I quit. luckily for me, I fell into a better package and am still here. I personally would not invest in thailand. Although I looked at the possibility of building a retirement fund here, in the end I would rather pay a higher non-resident tax in a safe and positive economy. I Link to comment Share on other sites More sharing options...
spirit_of_town_hall Posted January 31, 2002 Author Report Share Posted January 31, 2002 Thanks guys, What has been said makes perfect sense, with online brokers and the like there is no reson why a reasonable (even by Farang standards) nest egg cant be accumulated over say 30 35 years all being well. I'll look in to that voluntary upkeep of UK pension contributions as well, cheers Link to comment Share on other sites More sharing options...
Guest Posted January 31, 2002 Report Share Posted January 31, 2002 It depends fully of what your status and your age is. If you have 'little' in the UK and you find a good job in Thailand, you could be able to acumulate something here. Is you have a Thai wife, build some nestegg in Thailand. Depending on the time that you have to go until your retirement. Good investments can include land in the outskirts of Bangkok, which will be valuable in 20 years, rental houses or condo's. We own our own house in Bangkok now and i certainly plan to stay here. Maybe will go a few years abroad to do something different at some stage, butthe house and ritirement plans are focussed in Thailand. Link to comment Share on other sites More sharing options...
Lusty Posted February 1, 2002 Report Share Posted February 1, 2002 With my projected pension if the financial gulf between Britain and Thailand were to stay the same for the next 22yrs I could come down and live like a lord. Two important variables exist though. 1.I can,t wait for 22yrs 2.I doubt wether I,d live that long with my parents health history and the fact that I,m a heavy smoker. Link to comment Share on other sites More sharing options...
spirit_of_town_hall Posted February 1, 2002 Author Report Share Posted February 1, 2002 Thats it Rusty, I want to enjoy it while I can, can ou remember that Securicor driver "Florida Pil" who absconded with about £3 million or 180 million baht! Link to comment Share on other sites More sharing options...
Lusty Posted February 2, 2002 Report Share Posted February 2, 2002 I certainly can!I would have done the same thing if I,d been on £1.80 an hour which was about a third of the breadline pay at the time. P.S. Don,t forget to give us a bell. [ February 02, 2002: Message edited by: rusty ] Link to comment Share on other sites More sharing options...
spirit_of_town_hall Posted February 3, 2002 Author Report Share Posted February 3, 2002 Will do Rusty, I'm back in about 2 and a half weeks, after hearing for the first time about that Thai disco, could be worth checking. I dont think I'd have a cat in hells chance with up town Thai birds but if there are some Issan ladies about maybe! Link to comment Share on other sites More sharing options...
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