How much money is required for 30 years retirement?

[Tagged]

23 minutes ago, checkered flag said:

 

Edited July 27, 2020 by Tagged
Double post

[thaibeachlovers]

3 minutes ago, ballpoint said:

This thread once again shows the folly of asking a wide range of people a question on spending money.  Everyone has the same needs, but we all have different wants.  Before the two way pissing contest - some bragging how much they spend a month, some bragging how little they spend, continues, here's my thoughts.  (I won't say advice, because, like I said, everyone is different.  What I want will not be what others do, but this works for me).  Getting by with just enough money to pay for food and shelter is not living, it is existing.  In fact, it's not even that if an unexpected medical event comes up. 

 

You should look at why you are retiring - because of age, for family, out of laziness (nothing wrong with that), to engage in a hobby full time, to travel, ... whatever.  Then look at how you would be happy doing whatever you want to be doing, and what that would cost you now.  Also look at what makes you happy now, and how much that currently costs you.  (I know someone will come on and argue that there are many things that can make you happy without spending money, but I'm talking about the ones that do).  Then factor in food and shelter and an emergency stash.  That gives a minimum amount that you need to have.  Personally, if I had have had to give up any of the things I enjoyed, or looked forward to doing, when I retired, then I would be as miserable as many of the other posters on here.  Which I think explains a lot.

I was happy just being in Thailand. During my last year there I didn't need expensive restaurants, trips to stay in 5* hotels, massages, or any of that sort of thing. I got to see movies in excellent cinemas, shop in a nice mall ( if I wanted ) get cheap DVDs, live in a nice hotel. All the things I used to need were no longer needed. Even just being hot all the time was great. I was happy because I knew what the alternative was. Didn't need a lot or even a little money as long as it was enough to live on and renew my extension. It was the cost of insurance that killed the dream.

 

Personally, if I had have had to give up any of the things I enjoyed, or looked forward to doing, when I retired, then I would be as miserable as many of the other posters on here.  Which I think explains a lot.

If one has to have certain things one will never be truly happy, because those things can be taken away at any time- heart attack, stroke, Corona etc.

The secret to happiness that I learned is to be happy with what one has, rather than what one wants.

 

[Tagged]

@ballpoint

 

We all have a ego that needs feedback ???? Even you, and we all try to live life st the best we can, and In fact we might pick up something between all the bragging one way or other. You never know, and I learn something new if not every day, at least once a week just by reading and observing. Of course less the longer I hang out in the village or at Thai visa. But once and awhile, there is something! 

[sidjameson]

8 hours ago, thaibeachlovers said:

Who are you talking to?

I lived in a marvellous hotel with AC, fan, hot water shower, cable tv, weekly clean and linen change all for 15,000 a month, and food needn't cost more than 5,000 a month to eat well.

 

If anyone can't afford 20,000 a month to live on they probably can't afford to live in LOS.

Do you mind saying where that hotel was?

[CorpusChristie]

20 minutes ago, sidjameson said:

Do you mind saying where that hotel was?

Quite a few hotels offer long term rates .

A stay in a 600 Baht a night 3 star hotel in CM.

Fridge, TV, Wifi for 6000 Baht per month .

[Mama Noodle]

I find it extremely hard to live on 30k a month and everything here is owned. But I do like the finer things like, fully air conditioned house and imported alcohol. 

[checkered flag]

40 minutes ago, sidjameson said:

Do you mind saying where that hotel was?

That's about 500 baht/day. Probably a guest house sort of place. They can be nice and clean but not 2 - 3 star.

[checkered flag]

22 minutes ago, CorpusChristie said:

Quite a few hotels offer long term rates .

A stay in a 600 Baht a night 3 star hotel in CM.

Fridge, TV, Wifi for 6000 Baht per month .

Maybe it's three star to you, but 600 baht/night is certainly very low end. Is it a dormitory by any chance.

Edited July 27, 2020 by checkered flag

[CorpusChristie]

1 minute ago, checkered flag said:

Maybe it's three star to you, but 200 baht/night is certainly very low end. Is it a dormitory by any chance.

Its got *3 stars * written on its website page .

I didnt give the hotel its rating , nothing to do with me .

Its not a dormitory no, its actually one of the larger double rooms

[bkk6060]

38 minutes ago, CorpusChristie said:

Quite a few hotels offer long term rates .

A stay in a 600 Baht a night 3 star hotel in CM.

Fridge, TV, Wifi for 6000 Baht per month .

I know CM well.

Sorry, for that price I bet it is a bit of a dump.

But, to each their own.

[CorpusChristie]

1 minute ago, bkk6060 said:

I know CM well.

Sorry, for that price I bet it is a bit of a dump.

But, to each their own.

 

Does me fine , centrally located as well 

[marvin1950]

I pay 20,000 baht a month includes:

Bedroom

Living Room

Eating Area

52"TV

Air Conditioning (on 12 hours daily)

Electricity (no extra charge for air conditioner usage)

Hot Water

Maid Service (clean apartment and clean linens  and towels daily)

Microwave

Cable TV

Truevision

Terrace

Private Entrance

10 minute walk to shopping center

 

In Patong, Phuket

Edited July 27, 2020 by marvin1950
additional

[daveAustin]

Probably not the best time to pose this question, op. If the 'government' gets its way, it'll get tougher and tougher for westerners to retire there unless perhaps you go the 'elite' option and drop a load into the coffers.

[Kadilo]

9 hours ago, CorpusChristie said:

 

Does me fine , centrally located as well 

Do you sub let the other bed?

[Tagged]

13 hours ago, marvin1950 said:

I pay 20,000 baht a month includes:

Bedroom

Living Room

Eating Area

52"TV

Air Conditioning (on 12 hours daily)

Electricity (no extra charge for air conditioner usage)

Hot Water

Maid Service (clean apartment and clean linens  and towels daily)

Microwave

Cable TV

Truevision

Terrace

Private Entrance

10 minute walk to shopping center

 

In Patong, Phuket

Quite normal to room appartment price with cleaning and changing bed one time a week. + electricity. Also have kitchen. I hade a nice new 60m2 appartment in Hua Hin in soi 94 with big bathroom shower and bathtup, kitchen, balcony, big bedroom wiht aircon, and closed parking area for my car, 500cc, 1000cc and pcx. 7 000,- baht a month. 3 min to the beach. 

 

So if you live cheap and make food home, you could live for 20K a month if you want, even less if you only eat thai food, and not a big drinker. 

[Cryingdick]

About 1 million Baht per year. Except not in cash but invested in stable stocks with good dividends so you don't draw your capital down. So basically a million dollars invested in stocks that give 3.5% or higher yield and you will have roughly 100,000K per month. 

 

You would have to be a complete fool to calculate your yearly costs if you intend to keep your cash under your mattress. 

[thaibeachlovers]

On 7/27/2020 at 9:12 PM, sidjameson said:

Do you mind saying where that hotel was?

PM sent.

[thaibeachlovers]

On 7/29/2020 at 3:11 AM, Cryingdick said:

About 1 million Baht per year. Except not in cash but invested in stable stocks with good dividends so you don't draw your capital down. So basically a million dollars invested in stocks that give 3.5% or higher yield and you will have roughly 100,000K per month. 

 

You would have to be a complete fool to calculate your yearly costs if you intend to keep your cash under your mattress. 

I do wish posters would indicate the standard of living they refer to when stating total amounts.

Obviously it's a lot more if want to live western style compared to fan room and cold shower in a Pattaya back alley.

[ChaiyaTH]

8 hours ago, thaibeachlovers said:

I do wish posters would indicate the standard of living they refer to when stating total amounts.

Obviously it's a lot more if want to live western style compared to fan room and cold shower in a Pattaya back alley.

Well quite simple right, those who want to live budget on 33K baht would need around 300K usd then. Which is the 10M baht.

Edited July 31, 2020 by ChaiyaTH

[thaibeachlovers]

16 hours ago, ChaiyaTH said:

Well quite simple right, those who want to live budget on 33K baht would need around 300K usd then. Which is the 10M baht.

If that's a month, it's not budget. Budget is 20,000 or less. IMO 33k is medium.