What age did you retire and how much did you have?

[rumak]

4 hours ago, Wake Up said:

Retired at age 55 and have enough money to not work again in Thailand. As long as I don’t marry another western woman I will be good for life.  If I do then I will die broke for allowing my assets to be taken by a court and her greedy expensive lawyers. 

 

True story. Know an Aussie who has been in BKK and Hua Hin about 90 days. He retired at 53 this year. He already bought a diamond ring, house in Khon Kaen and car for a working girl. He did not plan on those expenses and he probably won’t last long time. But the Isaan economy for her family is booming.  ????????????????????????????

and one wonders if the working girl is also taking it under the table somewhere else

[CanuckThai]

One of the things I appreciate about TVF, is threads like this.   I'm nowhere close or ready for retirement, but some of the posted ups, downs and experienced wins/losses, help with the planning and strategy.   It's (in theory) easy enough to drag out the abacus, and calculate what will be available at my retirement, and design a life based around a contrived budget.  But threads like this, with some honest (and some bs) posts, really helps. 

 

So, thanks to those who posted...

[Jip99]

2 hours ago, BritManToo said:

I'm 62 and tired of life already, if I don't die of something by 70, I'll probably do it myself.

Another 30 years? What on earth would be the point?

 

 

I am 62 and this is the best time of my life.

[rumak]

1 hour ago, Lacessit said:

To use an Australian expression ( I think ) pull your finger out. I'm 75, and enjoying golf, swimming, reading, eating out, and my Thai GF. Saddle up, princess. There must be a hobby or passion to interest you.

You me lad are an exception.   Most of us nearing 70 are not so fortunate (healthwise).  I think many have themselves to blame for how they take care of their body.  I did all the things those stupid articles tell you to do ....but my back hurts much of the time,  digestion ain't great,  wake up way too much for a good sleep,

neck is stiff as are my fingers,  just been diagnosed with glaucoma..... 

But hey.....when you were working till 65  I was a free man living and experiencing many things in many places.   So i think i made the right choice .  I coulda worked for someone all those years , waiting for my fun filled retirement years....only to end up unable to pump and hump.   

I do agree with you though...find some thing or things to keep busy.   and adjust.   Just excuse me if I am

a grumpy, bitter old TV member once in a while   

 

[Puchaiyank]

16 minutes ago, Jip99 said:

 

 

I am 62 and this is the best time of my life.

I am considerably older...but feel the same as you...life is good...what's not to like? 

[whitemouse]

4 hours ago, Sumarianson said:

Not enough money. It is easy to spend 1.5 MB a year without doing much and only going out occasionally. Unless you can live and eat like a Thai, in which case you have loads.

Really? That's 120.000 THB every month, Thailand  and for you this amount covers only going out occasionally.

Can I ask, where do you go, when you go out? And what are daily expenses, roughly? 

I am sincerely curious about spending this amount, and it doesn't even cover going out every night.

 

[derngt]

On 12/24/2018 at 8:24 PM, Will27 said:

You better advise him he will have to return to Australia at 65 for 2 years

to get his OAP.

 

Retired here at 45.

 

 

I retired at 48 with 200,000.00baht monthly adjusted yearly for inflation. 

[BritManToo]

2 hours ago, Lacessit said:

How is it possible to have too many women? There must be some nationality you have not experienced.

 

Once I started forgetting their names, I sort of lost interest.

They aren't all that different.

[khunPer]

On 12/25/2018 at 2:07 AM, georgegeorgia said:

Questionif your retired , what age did yiu retire? 

How much in thai baht did you retire

has it lasted a long time

Early retirement at 57, and still some funds left – I'm so far only 69, so what is "long time" –plus a small government retirement pension from age 65.

 

Your second question about "how much Thai baht" is very personal, and might not be answered in numbers. It's also a rubber band-question, as it's really depending of life-style – I could/can easily have enjoyed 10 times what I had/still has of money – some can live happily here for next-to-nothing, whilst others might complain even with a relative fortune (relative depending of the viewers angle).

 

The deposit of 800,000 baht required for extension of stay based on retirement mirrors quite well a basic annual budget; then you can adjust up or down from that.

 

Be aware of a lump sum, if that money is going to last – i.e. living mainly of the dividends – if the funds disappears too fast, which can easily happen in Thailand, then there might be too little left for the decent life-style that appeared in the dream. An always difficult decision is, how much of the funds to bring into Thailand, and what it's going to be used for – i.e. buying a home or investing in stock market or bonds to avoid currency deviations – and the pitfall of beautiful gorgeous ladies. Equivalent to 11 million baht is in the area of up to 300,000 baht a year in average dividends; or if you plan to live for 30-years and spend all the money, it might be in the level of 500,000 baht a year including interest. If you combine with future governmental retirement pension you might be able to spend more of the savings the first seven years – i.e. more than 500,000 a year up till 67, the annual 800,000 baht makes sense to count on – and add up to similar level with the monthly or yearly pension.

 

Furthermore, consider the question of health insurance and some money set aside in a local Thai "rainy day account"; the latter is important both with a health insurance, and a must without one.

 

I used some of my savings to buy a home, because I planned to stay here for long time. Compared to renting, buying a home balance after up to 15 years when taking a number of factors into consideration, including loss of interest; so after 15 years it's cheaper to own your home, than to rent a similar place. But I rented a smaller place the first few years, which I always recommend, as one buy little time to find out if it's Thailand at all, or not, and if the location is the right choice.

????

[chicowoodduck]

I moved to LOS at the end of 2004 with one suitcase to my name...and that folks was the beginning of the end....????

[Redline]

On 12/25/2018 at 8:25 AM, thaiguzzi said:

Retired here aged 43.

15 years ago.

With nowhere near enough funds.

Still here.

Me too ???? Lucky my wife loves to work!

[Lacessit]

10 hours ago, rumak said:

You me lad are an exception.   Most of us nearing 70 are not so fortunate (healthwise).  I think many have themselves to blame for how they take care of their body.  I did all the things those stupid articles tell you to do ....but my back hurts much of the time,  digestion ain't great,  wake up way too much for a good sleep,

neck is stiff as are my fingers,  just been diagnosed with glaucoma..... 

But hey.....when you were working till 65  I was a free man living and experiencing many things in many places.   So i think i made the right choice .  I coulda worked for someone all those years , waiting for my fun filled retirement years....only to end up unable to pump and hump.   

I do agree with you though...find some thing or things to keep busy.   and adjust.   Just excuse me if I am

a grumpy, bitter old TV member once in a while   

 

I've had bladder cancer. Get checked for recurrence every six months. I have hypertension, gastric reflux, an obstructive prostate, and chronic leucocytic leukemia. It's a matter of adjusting your expectations of what you can do, and adjusting your lifestyle in terms of diet and alcohol intake to optimize what health one has left. Then getting on with it. Legitimate massage helps a lot with the loss of flexibility.

Each to his own. I loved my work in a fairly specialised field, and would still like doing it if I could. My skills are probably obsolete now.

If it's any help, my mind is too active to get much sleep. I've found Codiphen ( antihistamine ) is very useful in getting the occasional good night's sleep.

I'm sad for you being unable to pump and hump. I'd probably be much less positive if I couldn't.

You're excused.

 

[Lacessit]

9 hours ago, BritManToo said:

Once I started forgetting their names, I sort of lost interest.

They aren't all that different.

They've been all different to me - skin tone, size, faces, shaved/unshaved etc. etc. Maybe I remember them better because I wasn't all that interested in their names.

[rumak]

25 minutes ago, Lacessit said:

m sad for you being unable to pump and hump. I'd probably be much less positive if I couldn't

if you read the sentence it does not specifically say that  I  can not pump and hump.   It is a general statement .........

I keep my most personal secrets between me and my barber  .   

I also make a point about needing to make adjustments as one gets older.  

I  try to inject a little humor into my posts....even if its making fun of myself.  

staying positive ......and not being so serious,,,,,

so no need to be sad for me 

Edited December 29, 2018 by rumak

[Lacessit]

15 minutes ago, rumak said:

if you read the sentence it does not specifically say that  I  can not pump and hump.   It is a general statement .........

I keep my most personal secrets between me and my barber  .   

I also make a point about needing to make adjustments as one gets older.  

Get some sleep...you seem grumpy this morning   

Er - your post said "only to end up unable to pump and hump". How does that differ in meaning?

I was agreeing with your point about making adjustments.

What have I said that gives you the impression I'm grumpy? You were under the impression I was fortunate to be in good health. I've explained that's not quite the case.

Put your reading glasses on, and try again. Excuse me while I consume an omelet and coffee my GF has made for me.

[rumak]

16 minutes ago, Lacessit said:

Er - your post said "only to end up unable to pump and hump". How does that differ in meaning?

I was agreeing with your point about making adjustments.

What have I said that gives you the impression I'm grumpy? You were under the impression I was fortunate to be in good health. I've explained that's not quite the case.

Put your reading glasses on, and try again. Excuse me while I consume an omelet and coffee my GF has made for me.

feisty old man......   but your reading comprehension is clouded by your ego

enjoy your eggs and stop having a go at me.   its not worth it (no need to say you agree)  i get it

[Mike Teavee]

On 12/25/2018 at 11:02 AM, OneMoreFarang said:

I would love to see the entries of the guys who thought they would retire and who thought they had enough money but then they found out that was not the case.

 

I know a couple of guys who thought they saved enough and they wanted to live from the interest - it didn't work out that way.

And then there was this about 65 year old guy at the pool table and I asked him what he does for a living. He told me a few months ago he thought he retired. And then the stock market crashed...

 

Personally I still work and I will do that for the foreseeable future. I like my work, playing with computers.

I "Retired" at 40.5 (End of 2006) with enough income to give me £1,000 per month (IIRC it was about 60,000 THB at the time, now more like 41,000 so lesson Number 1 learnt).

 

After a few months (1st 10 weeks of which I was laid up on the couch with "Yuppie" Flu (ME)) I concluded that a sudden stop from a stressful 120+ hours a week job wasn't the best plan so I went back to work - Which was very lucky timing as the GFC (Global Financial Crisis) happened a few months later (I work in IT for big Banks & so wouldn't have got another job for a long time if I hadn't have gone back when i did - Lesson number 2 learnt),

 

Then retired at 48 with £2,000 per month (IIRC at that time was approx 90-100,000 THB), had a happy 15 month travelling (Blew my redundancy payout) & a mate asked me to go back to work to help him out - 3 months later Brexit happened & my £2,000 pm went back to £1,000 pm almost (actually) overnight - Lesson number 3 learnt.

 

Thinking of retiring again in March (I'll be 53 in Feb) and on approx £3,500 per month so just trying to think what's going to fck it up this time!

 

 

NB I should add all of my budget planning is only until I'm 60 when a couple of pensions kick in & barring another  catastrophe I should be OK if I have enough £s to last me to then.

 

 

 

 

 

Edited December 29, 2018 by Mike Teavee

[rumak]

31 minutes ago, rumak said:

Er - your post said "only to end up unable to pump and hump". How does that differ in meaning?

QUOTE: when you were working till 65  I was a free man living and experiencing many things in many places.   So i think i made the right choice .  I coulda worked for someone all those years , waiting for my fun filled retirement years....only to end up unable to pump and hump.   

FYI:  this is a general statement !  referencing the fact that many people work their whole life but when it comes time to retire they are not physically able to enjoy many of the things that they thought they would.

You are trying to make it personal....typical of guys jealous of those of us who have lived here for much more than 8 years.......but they retire here and think they know all about thailand (and everything else). The TV warriors !   So fast to throw out the "put your reading glasses on "  BS.     i feel sad for you

[Lacessit]

8 minutes ago, rumak said:

QUOTE: when you were working till 65  I was a free man living and experiencing many things in many places.   So i think i made the right choice .  I coulda worked for someone all those years , waiting for my fun filled retirement years....only to end up unable to pump and hump.   

FYI:  this is a general statement !  referencing the fact that many people work their whole life but when it comes time to retire they are not physically able to enjoy many of the things that they thought they would.

You are trying to make it personal....typical of guys jealous of those of us who have lived here for much more than 8 years.......but they retire here and think they know all about thailand (and everything else). The TV warriors !   So fast to throw out the "put your reading glasses on "  BS.     i feel sad for you

My apologies. The periods before " only to end up unable to pump and hump" change the meaning of your post. I could have sworn they were not there in the original.

I am not jealous of you at all. You chose to retire early. I chose to keep working, because I enjoyed my work. If not for the GFC, I'd still be working. Each to his own.

I have no interest in entering into a pissing contest with you about who knows more about Thailand. Or anything else. Time and health are the only things that are important to me.

[rumak]

32 minutes ago, Lacessit said:

My apologies. The periods before " only to end up unable to pump and hump" change the meaning of your post. I could have sworn they were not there in the original.

I am not jealous of you at all. You chose to retire early. I chose to keep working, because I enjoyed my work. If not for the GFC, I'd still be working. Each to his own.

I have no interest in entering into a pissing contest with you about who knows more about Thailand. Or anything else. Time and health are the only things that are important to me.

Apologies accepted.  I know that you have many interesting posts here,  and am indeed happy for those retirees that manage to enjoy their life here.  I believe life here is a blessing compared to the alternatives. Being 75 and doing well is something to be proud of.

Many others seem to find a lot to complain about.  Like you say, to each his own.  As for pump and hump...Keep it up !   

Edited December 29, 2018 by rumak

[Nemises]

retired here at 30.

Retired at 30 ? Wow, that’s a young age to never have to work again!
You must have had a good job for those whopping 10 years that you spent in the workforce.
Care to share exactly what job you did ?

[Lacessit]

1 hour ago, Nemises said:

Retired at 30 ? Wow, that’s a young age to never have to work again!
You must have had a good job for those whopping 10 years that you spent in the workforce.
Care to share exactly what job you did ?

At a guess, either a theoretical physicist or a stock exchange floor trader. Both professions are usually burnt out at age 30.

[Mike Teavee]

3 minutes ago, Lacessit said:

At a guess, either a theoretical physicist or a stock exchange floor trader. Both professions are usually burnt out at age 30.

Also Programmers - We used to joke that at age 30, coders are burnt out and they stop wanting to write their own compilers.

 

Then I hit 30 and found out it wasn't a joke & I had better things to do with my time than trying to rewrite other peoples code.

 

God I miss those days...  

 

[maprao]

I am not retired and am gainfully employed. I am truly astounded by how so many maintain the  lifestyle that they do because I am in the top 10% of wealth  in my homeland (income and savings) and yet, I would be unable to retire and live the type of lifestyle so many describe. I just don't get it. Obviously, I live in a different world.
 

I'm with you on this. Added to which no rent or mortage. I guess I made some bad investments [emoji848][emoji848][emoji848]

Sent from my SM-N960F using Thailand Forum - Thaivisa mobile app

[Jingthing]

At about age 48 with a questionable amount of funds. Part used to buy a condo. Now much later I have about the same amount of net worth (will include the condo value if sold under market) in a literal number but not counting for inflation but now finally have a modest pension income which I didn't before. So roughly the income covers the lack of adjustment for inflation or even more, not sure about that. Yes I managed all that time with no income whatsoever (thank you Thai immigration for the 800K bank method). Replaced the spending with investment gains. Fairly marginal for living abroad but a disaster for living in the USA.

As far as what I could have expected to happen by now at age 48, it's about in the middle.

Worst case would have been being totally wiped out. Best case would been much more net worth growth than actually occurred. So relatively OK. 

Buying a condo so far has seemed to have been a smart move. "Free rent" for well over a decade, enjoying no landlord issues, and still has value to sell. Of course if I ever need to sell it and can't (it happens) then that assessment will change. 

 

To add, one of a number of reasons that I am looking more closely at another nation to retire to is that now with a pension I can visa qualify for some countries based on pension. Most places with retirement programs don't accept bank accounts only. Some of them are as low as 600 - 800 USD per month which is not the same thing as that being enough to live on comfortably at least if you're paying rent. 

Edited December 29, 2018 by Jingthing

[Puchaiyank]

26 minutes ago, Jingthing said:

At about age 48 with a questionable amount of funds. Part used to buy a condo. Now much later I have about the same amount of net worth (will include the condo value if sold under market) in a literal number but not counting for inflation but now finally have a modest pension income which I didn't before. So roughly the income covers the lack of adjustment for inflation or even more, not sure about that. Yes I managed all that time with no income whatsoever (thank you Thai immigration for the 800K bank method). Replaced the spending with investment gains. Fairly marginal for living abroad but a disaster for living in the USA.

As far as what I could have expected to happen by now at age 48, it's about in the middle.

Worst case would have been being totally wiped out. Best case would been much more net worth growth than actually occurred. So relatively OK. 

Buying a condo so far has seemed to have been a smart move. "Free rent" for well over a decade, enjoying no landlord issues, and still has value to sell. Of course if I ever need to sell it and can't (it happens) then that assessment will change. 

 

To add, one of a number of reasons that I am looking more closely at another nation to retire to is that now with a pension I can visa qualify for some countries based on pension. Most places with retirement programs don't accept bank accounts only. Some of them are as low as 600 - 800 USD per month which is not the same thing as that being enough to live on comfortably at least if you're paying rent. 

What did you just say?    ????

[madmen]

Does he pass the asset test? Seems to me that 12 million in cash will wipe out his pension 

[totally thaied up]

3 minutes ago, madmen said:

Does he pass the asset test? Seems to me that 12 million in cash will wipe out his pension 

If your Australian, you would get a part pension with that amount in the bank. That is not much cash really.

[marcusarelus]

43 minutes ago, Puchaiyank said:

What did you just say?    ????

He said he retired at 48 and he is now 48 and lives in Thailand without spending any money and thanked immigration for the 800k bank method. I didn't understand it either. 

[Jingthing]

11 minutes ago, marcusarelus said:

He said he retired at 48 and he is now 48 and lives in Thailand without spending any money and thanked immigration for the 800k bank method. I didn't understand it either. 

No. I am much older than 48 now. I said I "retired" then and now am old enough to get a pension. The information is there. I am not going to share exact money numbers. The basic theme is if you start with a relatively modest nest egg, there is indeed the risk of running out of money before you run out of life. People that retire with many millions of U.S. dollars can have the luxury of not having that concern. Most people don't. 

Edited December 29, 2018 by Jingthing