Is money important to you now you have retired

[HLover]

2 hours ago, BritManToo said:

I'm happy enough with a phad Thai for 40bht.

Sometimes I share a fish with my gf, 120bht.

Why pay more?

I agree, and wash it all down with a nice bottle of Chevas.  Commonors be dammed.

[HHTel]

5 hours ago, from the home of CC said:

I guess if you knew your death date planning life would be so much easier..

I'm not bothered about when I die.  I'd just like to know WHERE I'll die.........

because I'd definitely not go there!!!

[4MyEgo]

My ideal budget is 60,000 baht, that said when you add private health cover for family of 2 adults and 4 kids, you can increase that to 70,000 baht, then the annual holiday back to Sydney for a week or 2, then Phuket for a week, you can increase that to 85,000 baht per month, add car and house insurance, school fees for a semi-private school, some imported food, a little alcohol and some loose women every now and again, you will need 100,000 baht per month to LIVE, not talking eating rice, not in my diet.

 

A lot of guys talk about dying, what about eating healthy, what about exercising, if you are earning 30,000 baht and living in Thailand you are living a frugal life, maybe that's your style, but better planning, hard work, less alcohol over the years and investments, pays off.

 

Don't get me wrong I am not knocking anyone, but hate it when hear the dollar, the pound has gone down, the stock market, gold has gone down, what that tells me is people didn't plan for their retirement, I did, and retired at 55, no handouts, no pension, no inheritance, yet I can survive on 60,000 baht till I reach 101.

 

I still maintain my investments, looking for opportunities to make a buck, otherwise I am dipping into my own funds, I do still take on some consultancy work every now and again, although pay 32.5% tax but I still earn 67.5% of my fee, so I am retired, but looking after investments and doing some consultancy work every now and again, gives me the same as I was earning back in Australia, after tax.

 

Fortunately I can live here on half of what it would cost me to live as I was back in Oz, that said, I can cut things back to live frugally, but have no intention to do so, this is my moment, but I don't waste it either, and I am not eating my kids inheritance, that said, if it means I have to, well I have to, wasn't brought up with a silver spoon and am content with what I have, so the kids will have to be as well.

 

What I am saying is, if you sit on your ass and have no additional money coming in, your here because you wouldn't survive on it back home, for those of us who busted our guts, invested, and waited, then retired early, have options, some of us choose to keep working at a moderate pace, and look after our investments, and budget, I call that smart.

 

Buy me a beer next time you see me ????

 

[pmarlowe]

Wow... lots of questions. In the end, it depends how much you have saved and how long you will live to determine how you can live. So flip a coin. A lot also depends on where you are from. In the USA, social security pays out a monthly amount that most Thais could ever earn. Also, there are tax treaties between Thailand and the USA (and other countries I assume). Look into those as you might be able to get some real relief on say a 401k or an IRA (or equivalent) in terms of taxes on any plan that has been tax exempt until retirement. Whatever your situation may be, i would spend a few bucks to get advice from an expert to advise you in general on your retirement financials  -- and also an expert on tax in your home country who also has a working knowledge of the tax situation here.  OP presents lots of variables here so it requires real homework.  But i always say I'd like the check to pay for my cremation to bounce)))

[GreasyFingers]

5 hours ago, wgdanson said:

Answers. Yes. I am the savvy one. Been there and done it, now settled. Fill in an Excel every day.

Same same

[Hummin]

Im only retarded not retired yet!

 

My money last 3 times longer here in Thailand!

 

 

[Aussieroaming]

6 hours ago, indepth said:

will it never stop.

What, the troll posts?

[BritManToo]

28 minutes ago, 4MyEgo said:

My ideal budget is 60,000 baht, that said when you add private health cover for family of 2 adults and 4 kids, you can increase that to 70,000 baht, then the annual holiday back to Sydney for a week or 2, then Phuket for a week, you can increase that to 85,000 baht per month, add car and house insurance, school fees for a semi-private school, some imported food, a little alcohol and some loose women every now and again, you will need 100,000 baht per month to LIVE, not talking eating rice, not in my diet.

I don't bother with health insurance because I'm old and ready to go.

I don't bother with healt insurance for my kids because they are Thai and the hospital is free for them.

I don't bother with house insurance beyond the home loan requirements (500bht/year)

I don't bother with car or m/c insurance beyond the government minimum (1,000bht/year for 3)

I don't bother with private school fees because my kids are Thai and the government school is almost free.

I don't bother with loose women because I'm too old to do anything with them anymore.

I don't bother with imported food because I can make most of it myself from local ingredients.

I don't go on holiday to Phuket because it's shithole like all the other Thai resorts filled with foreigners.

I don't go on holiday back to the UK because it isn't a nice place for a holiday.

Although I do go on holiday to The Philippines, Malaysia, Cambodia, China, Laos and Vietnam.

 

That's why I only need 20k/month and you need 100k/month.

Is my life any less that your life, probably not because I'm not overweight from all the imported food I don't buy.

[GreasyFingers]

When I retired my budget was $100 per day, 6 months traveling Oz, 6 months Thailand. That was for the funds saved to last me 10 years (could not plan further ahead than that). 7 years later and moving to Thailand there is still enough for the next 10 years but hopefully I will not last that long as being an active person the body is slowing down too quickly.

[Stevemercer]

I never worried about money at all until I married a Thai woman!

 

We did a straw poll with the 20 or so farang who live locally. ALL spend more than their monthly pension, income or salary, which means we are all dipping into our savings.

 

My old man retired at 55 and planned his investments based on a life expectancy of 75. Well, he turns 95 this year and is still in relatively good health and mobile (can drive, walk 5 km each day etc).

 

Hopefully, as one gets older ones living costs might go down (e.g. cut back on the booze, women and 'toys').

 

I guess money may not be the most important thing in life, but it sure opens up options.

[Pedrogaz]

Personally no, I don't watch my money. Unless there is disastrous inflation as in the 1970 and early 80s I will have enough to live on when I die. I can't do anything about inflation, it will happen or not as the case may be, so why worry about it. 

I have already put money aside for the kids inheritance and the ex-wife. At the moment, my income exceeds what I spend here in Thailand plus commitments back home like alimony, taxes etc. At some point I will need to start t dip into savings but that hasn't happened yet apart from building the home here.

I really don't understand these people, and I know a quite a few, that come here on a pittance and expect to live a good life....I'm thinking Aussies and Brits who have seen the value of their currency fall considerably so they have difficulty even raising the 65000 baht for their visa extensions. I can't see the fun in being poor in Thailand...I'd go home if I was that poor.

[Ajarnbrian]

You want to live as an expat who wants all the same things as back home? You spend your money on bar girls and soon settle down with one? Hope you`ve budgeted for more than you may want to spend. Another way is to live in a lower rent location, learn Thai language, eat mainly Thai food, avoid expensive western attractions and bar girls. Then you can live on a much lower budget and have a happy life.

[David Walden]

6 hours ago, j8k said:

I am on a healthy(ish) budget of AUD $5000 a month. I'd be a pauper back in Aus, but here in the LOS I can live like a king. I still manage to shore pros so don't even have that expense ????

 

People living here on $1000 are paupers. You need to sort your shit out as LOS will only become more expensive, what with the influx of chinky and indian $$

$5000 Aus a month and you think you are a pauper.  The only advice I could give you is "a fool and his money are soon parted",  you are likely spending Aus$1000 on living and $4000 a month in the girlie bars?

[Speedhump]

6 hours ago, BritManToo said:

Not sure someone getting 2x the Thai minimum wage can be called a pauper.

Without hookers, I can easily live well on that.

Not quite sure what you mean by liviing well. I want (and have) a life where I have a house, a car, and health insurance. I don't need expensive items or hookers or even imported wine, but $1000 a month would just be a bad joke. 

[Speedhump]

6 hours ago, BritManToo said:

Not sure someone getting 2x the Thai minimum wage can be called a pauper.

Without hookers, I can easily live well on that.

Not quite sure what you mean by liviing well. I want (and have) a life where I have a house, a car, and health insurance. I don't need expensive items or hookers or even imported wine, but $1000 a month would just be a bad joke. 

[BritManToo]

9 minutes ago, Speedhump said:

Not quite sure what you mean by liviing well.

I have a 60" TV (biggest I've ever owned)

A 100/30 fibre internet (fastest I've ever had)

Two nice children, a roof over my head, enough for us all to eat and drink, and it's warm every day.

 

To me that's living well, well above my expectations as a pensioner in the UK.

[NoshowJones]

6 hours ago, wgdanson said:

That all depends on how much you actually have every month, and, in my case, I live with tirak in the jungle in my nice big house. Step daughter will look after me after she graduates if my pension does not cover all expenses. Mrs goes to salon 4 times a year, I go more often ! 

If that is you in your avatar, why do you need to go to the barbers? ????

[wgdanson]

1 minute ago, possum1931 said:

If that is you in your avatar, why do you need to go to the barbers? ????

Because if I do go to the barbers, it will finish up like this

[NoshowJones]

and what's wrong with that? Apart from of course the facial hair.

Is that a fender Jazz? That's what I played.

[marcusarelus]

My haircut has assumed a whole new meaning since I've retired.  I go outside in the garden where I have a mirror and with a Kemei shave everything off.  Top and bottom and everything.  The dog watches me.  It's not that I don't have the money for a haircut but I don't have one anymore.  Who cares.  Who do I have to impress?  The dog?  Wife doesn't even notice.  And agree with Brit about the giant TV.  So much better.  Younger women, older cheese and faster INTERNET. 

Edited January 31, 2019 by marcusarelus

[totally thaied up]

14 minutes ago, BritManToo said:

To me that's living well, well above my expectations as a pensioner in the UK.

Same for me

 

I live on a pension every month now. I live a darn good life. I dip into my own funds every month by about $200. I can nearly live off my pension but do have health insurance. At the rate I am going, I will have enough funds to last me till I am 120 but expect to be dead by 70 as my health is not good. I have a massive inheritance coming to me via a Trust Fund and I do not know what to do with it really.

 

I own a car, my wife has a house, we have three motorcycles for touring. I have about 20 years of life left in me but I do not want to change things very much. Might do a bit more overseas travel with the wife shortly but I am not going to worry about money as like BritManToo says, when you have a pension rolling in and it does not change monthly, life is pretty easy if you do not live beyond your means.

 

Your health is the most important thing before money. Many of my close friends are dead now and I am only 49.

[Pedrogaz]

1 hour ago, BritManToo said:

I don't bother with health insurance because I'm old and ready to go.

I don't bother with healt insurance for my kids because they are Thai and the hospital is free for them.

I don't bother with house insurance beyond the home loan requirements (500bht/year)

I don't bother with car or m/c insurance beyond the government minimum (1,000bht/year for 3)

I don't bother with private school fees because my kids are Thai and the government school is almost free.

I don't bother with loose women because I'm too old to do anything with them anymore.

I don't bother with imported food because I can make most of it myself from local ingredients.

I don't go on holiday to Phuket because it's shithole like all the other Thai resorts filled with foreigners.

I don't go on holiday back to the UK because it isn't a nice place for a holiday.

Although I do go on holiday to The Philippines, Malaysia, Cambodia, China, Laos and Vietnam.

 

That's why I only need 20k/month and you need 100k/month.

Is my life any less that your life, probably not because I'm not overweight from all the imported food I don't buy.

I could not live like this, watching every penny and living on next to nothing. It is no fun at all to me. I enjoy vacations in Europe and the US, as well as staying in nice hotels here in touristy areas.

I'm sure you don't mean to, but you come across as someone whose every waking moment is spent doing things for as little money as possible. It doesn't sound like any fun to me. I can understand it if you are poor, but if you have money and live like this then I think you are making a mistake with your life. Life isn't a competition to see who spends the least. Perhaps you are focussing too much on the cost of things and could let go once in a while and have a bit of fun. 

[totally thaied up]

7 minutes ago, marcusarelus said:

And agree with Brit about the giant TV.

Yes, the big TV and a decent 5.1 Surround Sound system (I spent too much on sound) are worth every penny. I have a very good gaming computer, a PS4 and a wife that likes to game with me. It is pretty good!

 

Add a Spotify account and decent music, what more can I really want?

[chickenslegs]

7 hours ago, NCC1701A said:

my monthly boom boom budget is $1000 USD.

Does that include the antibiotics?

[Kalasin Jo]

7 hours ago, BritManToo said:

Not sure someone getting 2x the Thai minimum wage can be called a pauper.

Without hookers, I can easily live well on that.

No wife or kids then I'm guessing?

[NCC1701A]

1 minute ago, chickenslegs said:

Does that include the antibiotics?

actually yes. includes condoms, transportation, hotel, Viagra, food, drinks, gifts, hospital visits.    

[NCC1701A]

23 minutes ago, marcusarelus said:

My haircut has assumed a whole new meaning since I've retired.  I go outside in the garden where I have a mirror and with a Kemei shave everything off.  Top and bottom and everything.  The dog watches me.  It's not that I don't have the money for a haircut but I don't have one anymore.  Who cares.  Who do I have to impress?  The dog?  Wife doesn't even notice.  And agree with Brit about the giant TV.  So much better.  Younger women, older cheese and faster INTERNET. 

I have a female barber who is way sexy in Hua Hin and we flirt and say the dirtiest things while she is cutting away and have so much fun for a full hour. Shampoo and shoulder and head massage. Then one day there was a Farang man in the shop and of course it was her husband.

 

God help me.    

[Jaggg88]

3 hours ago, murraynz said:

somebody said-'spending the kids inheritence'.... i seriously object to that attitude--this is 2019..i hope not too many of you retirees are saving your money for the next generation ..

i taught my kids to create their own investments-early in life--they have done so---live great lives....

my pension is small, but i have good income from commercial property,  selling more houses over next few yrs...most will go to a charitable trust in nz -when im gone..

[looking after sick kids}...

i still live to a budget, but each year increasing my spending.... i dont think the money is much good to me in my eighties---i like being a butterfly in thailand... im generous with the girls but  not stupid....

im soo glad that i dont have to scrimp in my retirement yrs----but of course i have made many sacrifices in 40 previous yrs , to achieve that ...

once again---we reap what we sow......of course there is the odd exceptions, due to illness etc---

many men use their divorces, as an excuse for having very little in retirement yrs.. thats a feeble excuse...

 

I'm a Ski'er - Spending Kids Inheritance ???? My Thai wife earns more than me so I plan to be a kept man ???? Seriously tho' I have investment income in the UK and will draw 4 small pensions in 2 years but for now I'm still working. I'm lucky in that I can return to the UK and pick up short term contracts when if need be so I don't plan to sit on my arse.

[BritManToo]

34 minutes ago, Pedrogaz said:

but you come across as someone whose every waking moment is spent doing things for as little money as possible. It doesn't sound like any fun to me.

The best stuff in life is always free.

A walk in the jungle, a swim in the waterfall, a cycle ride through the countryside .......... all free.

Watching TV with my kids, playing in the garden with my kids also free.

Read a book, listen to music, watch a movie or TV series, all from the internet, amazing free entertainment.

 

Most of the stuff I like doing is free (or nearly free).

Sad that you have to spend money to enjoy life.

Edited January 31, 2019 by BritManToo

[Mavideol]

6 hours ago, BritManToo said:

I admit, I am tired of living.

Death would be a welcome change from betrayal and disappointment.

come on,  stop the BS, you have a nice family with nice kids and a roof over your head, sunshine and a couple beers, what else do you need??? the grey, foggy and rainy UK sky? sit back and enjoy