lawman3966

I'm sorry, But I have to wonder if this is a serious post by the OP? I wonder if the OP earned the money or won it, or indeed if he really has $2mln. Because If with that amount of money he has to come on TV to ask if it is enough to retire on from the age of 40, is in my opinion dumb.

Think about it!

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I'm not sure why it's dumb. A rough calculation of the inflation-adjusted income one could draw from $ 2 mill for the remaining lifespan starting at age 40 could well be from $40K to $45K per year. (I divided $ 2 million by 45 to 50 years, which yields results close to what the inflation-indexed annuity calculators show).

It may well be obvious that one could live on $40K a year as a single adult. However, if the OP ever has a family and wants to send kids to private school, this nest egg may be just reasonable, and not at all excessive. Some would even say that it's insufficient if he plans to have a family and live in style.

Estimates of lump sums needed for retirement vary widely. Some sources would advocate having over $ 2 million even if retiring at 50 or 55 (leaving Social security out of the calculation). At age 40, $ 2 million is not as great as it seems. Moreover, as others have noted, Thailand is likely to experience higher inflation than the developed countries will, in the next 20 years, thereby eating into the initial lump sum even more. There is a whole body of research directed to what is called the "safe withdrawal rate" during retirement, and guys with Ph.Ds in Finance can't agree on the numbers. A long held belief was that one could safely withdraw 4% from a lump sum over 30 year retirement period. However, more recent papers have suggested much lower withdrawal rates, with one researcher recommending a withdrawal rate of 2% or so over retirement periods of only 30 years. The OP needs to prepare for the possibility of a period longer than 30 years. Accordingly, the answer is not simple at all.

I dont see how anyone can answer this for you,how will you live ?, where will you live ?, do you drink? smoke ? eat ? .comments and advice you will receive will surely be worthless without an assesment,..do you want to live in a pattaya penhouse or a tin shed in issan,one is definatly cheaper than the other,unless the in laws take it all off you

I'm glad this topic was revived after two years, as it appears to track the unending discussions of these topics in the U.S. media since people tend to now retire with lump sums instead of pensions.

One way of addressing the longevity risk is with Immediate Annuities. So far, these products have not been popular in the U.S., as annuities don't enjoy a good reputation (in many cases for good reason). But, I will be investigating this option in the years to come. Purchasing a stream of inflation-adjusted income that lasts for life seems easier than spending every day in retirement sweating over the latest profit reports, or the latest bank failures. Of course, the insurance company risk also has to be considered. For this reason, I would never allocate all my resources to an annuity, and certainly not to one at a single insurance company.

One approach I've read (by Walter Updegrave) recommends allocating 1/3 of retirement assets to an inflation-adjusted immediate annuity. This is done at the time of retirement. I believe his logic is that one can direct the income from this safe investment to the most basic expenses, and then invest the rest in equities to get a better long term return.

The "multiple" of the first year income one would need at age 50 according to one site is about 22 (i.e. the lump sum need to purchase the annuity, expressed as a multiple of the first year annuity income). So, according to this formula, if you needed 1M Baht per year to live, and were willing to invest all in an annuity, you could retire with a lump sum of 22 M Baht.

I suspect this product will grow in popularity as the boomers start to retire. Worth keeping an eye on.

With a degree and a TEFL and work experience teaching here, and most importantly, being female - you should be making at least 45-50,000 a month.

I came here 4 years ago (single female) and walked into a job making 50,000 a month - I'm currently making 65,000 at my current school. There's no way I'd work here and only make in the 30s - people tell you you can live on that. Sure, if you want no life and no savings.

And it's incredibly safe here. I've been in BKK for 4 years and go all over the place by myself - never never never had a problem, anywhere! Don't worry - just come. If you have a degree and you're female, Thailand has gazillions of opportunities - I have many more here than I had in the UK.

I've lurked on these boards on and off for some time, and am struck by how high your salaries have been. I'm sure you are well qualified. But, you seem to be suggesting that there is preference for female teachers, in addition to any other consideration. Since I don't recall reading that before, I'm curious to know if that's in fact the case. Does the gender issue really account for your making 65K instead of 35K??

L-man

Whether the "Muslim" label applies should depend upon whether it's a pertinent to the conflict at hand. Presumably, the insurgents fit other categories as well: Asian, brown-skinned, Indo-Chinese, etc. But, we have not called them "Brown insurgents" or "Asian Insurgents" because such terms clearly cast too wide a net.

The term Muslim may also cast too wide a net. I say "may" because the answer may depend on things I don't know, such as whether their actions are sanctioned by some sort of official religious authority, and whether a significant proportion of the Muslim population supports their actions.

While the KKK were White and Christian, the U.S. media and U.S. culture tend not to refer to them or anyone else as "Christian Terrorists".

L-man

You don't hear about farang teaching in the three southernmost provinces. Just starting around Phuket and Songkhla. And wasn't a farang teacher killed in Songkhla city or Hat Yai, this year?

This is the first I hear of violence against teachers, native or Farang. Is the motive usually a local sectarian conflict between Buddhists and Muslims?

Separately, are teachers being targeted in particular? If so, under what logic?

WapipatJohn:

I'm a 46 year old American harboring thoughts of semi-retiring in Thailand, and looking at teaching in Thailand as a second career, not merely as a side event. Thus, starting from this perspective, I really appreciate your post. I feel I can credibly look forward to a teaching career in Thailand in my 50s and beyond.

Separately, was the ageist who posted earlier asleep when John Mark Carr was arrested? Perhaps I'm looking at life through a middle-aged lens, but I'd say Carr is on the young side. I would have thought it was obvious, but apparently this needs to be stated: sexually and morally disordered people come in all shapes, sizes, ages, and degrees of familly attachment. Carr is a good illustration as he is only 42 now, was married, and has several children.

Les

Ijustwannateach, Thanks for your input.

I have since confirmed that for someone already having a four-year degree, a Canadian B. of Ed. takes only one year.

Teaching in the west (in my case the U.S. or Canada), regardless of the subject, holds interest for me primarily in how it enables me to eventually work in Thailand. A one year investment in a B. of Ed. seems well worth it if substantially improves my prospects for a 10-year or so teaching career in LOS. But, a three year investment (assuming two years experience in a western school is needed) makes the investment somewhat less appealing.

I suppose I'll just keep reading the various boards and get a better feel for things as time progresses.

Thanks again for the helpful input. I'll treat the Int'l school track as one option, not as a necessity.

Les

I've seen concerns expressed on this board about qualifications and exceeding the bounds of work permits. In one thread, someone suggested a German teacher could face prison for conducting lessons at his home.

I'm curious how this affects private lessons, if at all. Can a teacher actually face _criminal_ charges for taking on private students?

Thanks very much for the input. I hadn't considered the legal work option, but will look into it. And I will do some homework regarding the requirements for teacher certification in the U.S. and Canada (I'm a dual citizen).

I said what I did about the BA + 1 year teaching study approach because I have a couple of Canadian friends who became K-12 teachers that way. However, all information is subject to obsolescence, and I will ensure that I get updated information before making any rash decisions. Forearmed is forewarned.

Thanks again for your suggestions and your perspective. It's nice to hear something positive about the non-true-blue teaching options, despite their limitations. The rant I read on stickman was wholly negative about all but the 100K-per-month int'l school approach.

Regards,

Les

Thanks to Ijustwannateach for all the information in this thread. So far, I have not found an answer to the question below. But, sorry if I'm asking an already answered question.

I already have a BS (engineering) and a law degree in the US, and have worked in the legal field for nearly a decade. I am contemplating a move to Thailand in a couple of years to teach English and possibly other subjects as any such opportunities arise (Math and science are possibilities I suppose). I am contemplating a long term stay in Thailand.

The following question was prompted by a document I read warning of low levels of job satisfaction among teachers in Thailand with less formal qualifications. In brief, formal western teaching credentials were recommended.

In many jurisdictions in the US and Canada, any four year University degree combined with a one year University course in teaching can qualify one to teach within the K-12 education system. Thus, I'm treating this combination of credentials as corresponding a "western teaching" qualification.

The document I read indicated that the best teaching jobs in Thailand required the above combination of credentials and possibly one to two years' experience teaching in K-12 schools. I'm writing this to solicit opinions as to whether it would be worthwhile, for someone contemplating many years of teaching in Thailand and who has the time and resources to pursue this option,

to take such a one-year University course (in addition to TEFL or CELTA training) to become eligible for the more desirable International school jobs.

Again, sorry if this been asked before.

Regards,

lawman

Dr. Fisher,

Thanks again for the information. It sounds like you have found Nirvana at CMU. Congratulations.

I won't be moving to LOS for some time. But, it's nice to know what the options are. (I have two B.S. engrg degrees (mechanical and electrical) and a Law degree in case it's relevant to any types of opportunities you're aware of).

Regards,

Les

A comment in another thread prompted this topic. Can anyone indicate what credentials are required to teach Engineering at the University or other level in LOS? Is a bachelor's degree in the field being taught sufficient?

I was surprised to hear this might be available, as I assumed that there were plenty of Thais with B.S. degrees to fill this need.

Regards,

Les

Dr. Fisher,

Thanks very much for your post. To clarify, are you saying that an Engineering degree without any other degree (B. ed, or M. ed.) is sufficient to teach Engineering at a Thai university. If so, it's great to hear. But a little surprising. I guess I assumed that there were enough Thais with Engrg. degrees to fill those teaching jobs.

Thanks again,

Les

Dr. Fisher wrote:

<<If you have a degree in engineering I would suggest you teach engineering. I teach at CMU in my field of education and have an easy well paying job with great benefits including health care, paid vacations, sabbaticals, housing allowance, work permit and visa (all taken care of by the university and paid by the university) as well as Thai social security (no matter how little it is, its nice to know they care).>>

Hi Bryan,Thanks for your question and the thread. We're close to the same age, and I have many of the same aspirations - Engineering background, and wanting to teach in Thailand.

While I'm no expert on Thailand, I feel compelled to respond to your query about teaching in the U.S. and/ or in International schools. I have a friend in Texas who was forced into a career change in the Telecom wreck in 2002. He was able to become qualified as a high school teacher in the Dallas public school system with no more than his Engineering degree and a (free) summer training program. That was in 2002. The requirements may have since become more stringent, possibly requiring a one-year certificate of some sort. But, I don't believe that you need a B.A. to teach in the Dallas public schools. If this interests you, you should check it out.

I also investigated the option of teaching in International schools some time back. From what I recall, they generally require two years' experience teaching in a U.S. school system before heading out overseas. Their degree requirements may vary. But, if you are planning a long career overseas, this could be worth exploring. If two or three years training and experience in the U.S. would qualify you for teaching in Int'l schools, it's worth considering, as the Int'l schools pay more and offer better careers than the English school teaching gigs. Separately, another friend of mine who teaches in the International school circuit reported to me that one reason for their career choice was that their children got free tuition in excellent private schools - another factor to consider if children are a possibility.

Anyway, hope this was of interest.

Regards,

Les