How much money to retire in Thailand.

[xylophone]

15 minutes ago, arithai12 said:

I don't  get it, would you really be making such a big decision in life based on the answers you get on a forum?

 

Either you have spent considerable time here already, in which case you should know your answers. Or you haven't, in which case you should plan to spend at least six months here as a personal experience. What you see during a vacation is not the same.

 

You make a valid point IMO, and with that experience the OP should be able to work it out to at least a liveable sum.

 

There are items which some folk forget like health insurance/self insurance, everyday outgoings like power and water etc as well as trips back home. In addition there are things like wine which are expensive here and perhaps a few other luxuries thrown in.

 

I did exactly what you suggested and realised that I couldn't afford to retire here if I spent like I did on a vacation, so changes were needed.

 

Everyone to their own, but I could't live on 40k baht pm here.

[Dene16]

11 minutes ago, xylophone said:

Everyone to their own, but I could't live on 40k baht pm here.

I agree but his super should provide that plus he also has 40k from rental income and he is not keeping/supporting anyone as his g/f, future wife, is self supporting.

No insurance to worry about if they marry would then put him in a very enviable position

[tryasimight]

4 hours ago, xylophone said:

Agree..........twice that would provide a very comfortable living with no money worries.

I don't think that was what he was asking. 

Ten times that would be even better but has nothing to do with his question.

[smotherb]

2 hours ago, Colabamumbai said:

Get off the herb. The post had nothing to do with the way I live. Go bash on another forum.

Gee, touchy eh? I was not trying to describe your lifestyle, but did I get too close? I was simply responding to your general statement to not listen to those who say you can't live here on that money. I know you can, but as I said, the question has to be, do you want to?

 

I suggest it takes more; unless you want to count pennies in your old age.

 

[smotherb]

1 hour ago, Dene16 said:

From many of your previous posts explaining how your could not live on such meagre sums i actually feel very sorry for you. 

I can also concur that the sum of monies is very adequate as i know quite a few that do so on a lot less and have a very fulfilling life.

For once in your life get off your high horse and except that not all people need to wake up each morning and get into their Fortuner/BMW and wonder what their going to spend this months million on

Well, I am happy to hear you feel sorry for me--I will sleep much better for it.

 

I realize there are people who exist on meager sums. I choose not to and I think telling others how happy you can be on so little is a bit of rationalism into which I do not care to indulge.

 

I think my response is honest at least. I do not want to live on so little and I think most people would prefer not to. 

[tryasimight]

A carton of Singha and two packs of Krong Thip is roughly a thousand baht.  Thirty days in a month.  40,000 baht budget is eminently doable and you will have 10,000 left over to waste every month. 

[Colabamumbai]

25 minutes ago, smotherb said:

Gee, touchy eh? I was not trying to describe your lifestyle, but did I get too close? I was simply responding to your general statement to not listen to those who say you can't live here on that money. I know you can, but as I said, the question has to be, do you want to?

 

I suggest it takes more; unless you want to count pennies in your old age.

 

Troll

[JayBird]

If you want to eat healthy or foreign, not enough. Imported beef can cost 2k thb a kilo. Organic food is expensive as well.

 

If you want good health insurance (20m coverage instead of the typical Thai 500k) that will cost you another 40k or more per year.

 

imported clothing (name brand, etc) is not any cheaper here than in the real world.

 

You may want to consider carefully the true cost of living or changing your lifestyle to be truly local.

[GTgrizzly]

9 hours ago, evenstevens said:

from my actual experience ,  been living very comfortable retired life in C/mai on the OZ pension for 17 yrs , (even taking into consideration the present poor exchange rate)which is just above your 1600 dollar mark, my only concern is the health equation , but you are still young enough to join a medical scheme of some nature to take care of that, feel again from actual experience, keeping your Oz Medicard and receiving a Oz pension,down the track a mutch bigger problem as Centre Link  have closed the loop holes which was available to us old timers( affectionately called the pre 2003 gang)but at least you have a few years to prepare yourself and my advice is to cross those bridges when you come to the,as everyone has a different agenda dealing with Centre Link, very best of luck Cobber

Hi Mate

Can you explain the Centrelink loopholes you have mentioned

I was under the impression that once I was of retirement age I would only lose about $10 a week but still entitled to my pension when I move to Thailand

Any advice would be appreciated

Cheers

Geoff

P.S. Private contact details available if you need them

[Lacessit]

The OP can live on his income - now. There are a couple of caveats, however.

The first is that his house in Australia will not maintain itself. I used to go back to Australia for a month and spend a month busting my gut just to get the house back to square one. And tenants are not going to help that - any problems which are classed as urgent repair, and they will be straight on to whatever agent he employs for a plumber, electrician or whatever - and they charge $100 just to step through the door.

The second is his age. He has the average life expectancy of another 20 years to look forward to. So unless his $400,000 in superannuation is capable of generating returns better than the inflation rate and rate of drawdown, he will have diminishing capital and income to live on.

The third is Centrelink, of course. I hope he is aware that to qualify for any Age Pension he must be classed as resident in Australia, and BE in Australia when he becomes eligible. Otherwise, it's two years in the new penal colony created by our politicians to qualify. If he discloses he has a Thai wife, any pension entitlement is halved.

Personally, I would recommend continuing to work with the aim of driving up his superannuation balance to $600K - $700K. Or getting a voluntary redundancy payout.

[wadsy]

3 minutes ago, GTgrizzly said:

Hi Mate

Can you explain the Centrelink loopholes you have mentioned

I was under the impression that once I was of retirement age I would only lose about $10 a week but still entitled to my pension when I move to Thailand

Any advice would be appreciated

Cheers

Geoff

P.S. Private contact details available if you need them

You're right bud. One of my best mates is coming here in April on the OZ old age pension. He loses the energy supplement and a couple of other small things but the rest is portable and he will get around $800 a fortnight whilst he lives in Thailand. 

[NancyL]

4 hours ago, Tchooptip said:

A Westerner married in the Amphur could use his Thai wife health insurance?

Depends on the Thai wife's health insurance plan.  He mentioned his GF has a gov't job, so presumably a western husband would be covered.  If a foreigner married a Thai lady insured by the basic 30 baht gov't health insurance, then no he can't use her "health insurance", although some gov't hospitals in rural areas permit that, but as soon as he comes done with a serious illness that requires referral to a higher level gov't hospital he'll find he really isn't covered.

[GTgrizzly]

2 minutes ago, wadsy said:

You're right bud. One of my best mates is coming here in April on the OZ old age pension. He loses the energy supplement and a couple of other small things but the rest is portable and he will get around $800 a fortnight whilst he lives in Thailand. 

Cheers thanks wadsy

That's about what I was expecting 

My retirement is due on 09-05-2018

Where is Oz does your mate live?

[wadsy]

2 minutes ago, GTgrizzly said:

Cheers thanks wadsy

That's about what I was expecting 

My retirement is due on 09-05-2018

Where is Oz does your mate live?

He's in Taree NSW and from the horses mouth (centrelink) that was what he will get as of last month. Half your luck being retired in May this year. PM me if you need any more info. Cheers.

[bangkoken]

Not Much

[smotherb]

39 minutes ago, Colabamumbai said:

Troll

Nonsense, I've never spent time under a bridge; I can afford a hotel.

[Lacessit]

5 minutes ago, smotherb said:

Nonsense, I've never spent time under a bridge; I can afford a hotel.

One-star?

[smotherb]

Just now, Lacessit said:

One-star?

Yeah, I can afford a one star, I guess. How much are they?

[Lacessit]

Just now, smotherb said:

Yeah, I can afford a one star, I guess. How much are they?

I don't know - my minimum is 3-star. Nice try, though.

[smotherb]

Just now, Lacessit said:

I don't know - my minimum is 3-star. Nice try, though.

[Bangkokazy]

If you have 100k a month, you only have purchasing power for 50k per month
because you are tourist, and you will be tourist to the day you die.

[theguyfromanotherforum]

OP needs to ignore the usual sexpats who replied to him saying 40k is not enough and take advice from established, refined Farang who like myself leech off his wife insurance and house.

 

Yes, 40k is quite enough to live on if you don't have housing expenses. I don't know how the government insurance works, but I am using my wife's "decent" private insurance and I gotta tell you it's lacking in so many ways. 

 

You don't really need to drink or smoke in Thailand. The country is filthy enough, so why would you want to poison your body with this crap? That's money saved right there. The most money I spend in here is Western food (because Thai food is garbage), but even Western food sucks in comparison to back home. No choice.

 

I get around 70,000 baht a month from "back home" and I am able to save over half that every month. 

 

However, always have an escape plan and never sell your house. When I came here 4 years ago I was making 100k due to better exchange rate and somewhat higher income. I don't plan on retiring here.

 

Good luck. 

 

 

 

[peterb17]

3 hours ago, Dene16 said:

From many of your previous posts explaining how your could not live on such meagre sums i actually feel very sorry for you. 

I can also concur that the sum of monies is very adequate as i know quite a few that do so on a lot less and have a very fulfilling life.

For once in your life get off your high horse and except that not all people need to wake up each morning and get into their Fortuner/BMW and wonder what their going to spend this months million on

 

Yes but it’s much more fun .

 

 

[cyril sneer]

just don't ruin your life by having kids with her and you'll be fine

[SpokaneAl]

OP needs to ignore the usual sexpats who replied to him saying 40k is not enough and take advice from established, refined Farang who like myself leech off his wife insurance and house.
 
Yes, 40k is quite enough to live on if you don't have housing expenses. I don't know how the government insurance works, but I am using my wife's "decent" private insurance and I gotta tell you it's lacking in so many ways. 
 
You don't really need to drink or smoke in Thailand. The country is filthy enough, so why would you want to poison your body with this crap? That's money saved right there. The most money I spend in here is Western food (because Thai food is garbage), but even Western food sucks in comparison to back home. No choice.
 
I get around 70,000 baht a month from "back home" and I am able to save over half that every month. 
 
However, always have an escape plan and never sell your house. When I came here 4 years ago I was making 100k due to better exchange rate and somewhat higher income. I don't plan on retiring here.
 
Good luck. 
 
 
 

Thai food is garbage? That seems like a bit of an odd perspective for one who lives in Thailand. You must be a lot of fun when you travel or go out to eat.


Sent from my iPad using Thailand Forum - Thaivisa mobile app

[poanoi]

guessing the amount you spend and feel necessary to spend is to some degree dependent on how much money you can spend. i found the only way for me to go backwards in economy

in thailand is when i've been letting go of control altogether as to how much lady drinks i give away, it really does add up something hysterical since i go out every day

[theguyfromanotherforum]

2 minutes ago, SpokaneAl said:

 

Thai food is garbage? That seems like a bit of an odd perspective for one who lives in Thailand. You must be a lot of fun when you travel or go out to eat.


Sent from my iPad using Thailand Forum - Thaivisa mobile app

 

 

I love Thai food.... in Canada - the Westernized version. Shameful, isn't it? Mind you, I wasn't always grumpy like this simply because I believe I was delusional.

 

It lacks protein, it's dirty, antibiotic farm shrimp, salmon from who knows where, etc.....

 

I love Thai fruit, but I always have to buy it whole, never pre-cut because who knows where the knife has been.

 

Dirty place.

 

 

 

 

[Rhys]

Just find your spot, the person, you can stand to be about...and all works out..

[Bangkokazy]

You're only there if you only have 75k per month

[evenstevens]

1 hour ago, GTgrizzly said:

Hi Mate

Can you explain the Centrelink loopholes you have mentioned

I was under the impression that once I was of retirement age I would only lose about $10 a week but still entitled to my pension when I move to Thailand

Any advice would be appreciated

Cheers

Geoff

P.S. Private contact details available if you need them

as my post say,s  every Aussie agenda with C/link is entirely different, in my case ,  initially  i was on a disability pension for around 12 yrs then crossed over to the old age pension,during that time had a number of battles with C/link etc etc they kicked me from one  end   of the pitch  to the other ,perhaps a year or so back they would not renew my Medibank card ,another battle  but  another win,  they had to return it to me ,  as they had granted my pension and medi bank etc etc before all the legstrations were passed from 2003 and onwards (that fat bitch Amanda Vanderstone under little Johnny Howard started the rot for us legit ones) hence all the loop holes (so to speak)closing ,basically they could not reverse their decision made  on me around 2001,as they had granted me those concessions before  all the new laws were introduced from 2003 onwards that why we got the nick name The  Pre 2003 Gang, just had the rub of the green our C/MAI immgr dept Visa services come under heavy critisism on this board , they are a dream compared to  the morons employed and running   C/link  a nice evening to all