How much money is required for 30 years retirement?

[4MyEgo]

1 hour ago, BritManToo said:

I've never encountered a GP in Thailand.

Did you mean 'private clinic'?

I go to the hospital.

Yes a GP, e.g. general practitioner at a clinic, who then sent me to the hospital after two different courses of antibiotics didn't work, that outcome was even worse, until I went to a private hospital which sorted it quick smart, I suppose you get what you pay for, that's the way I see it as the public hospitals here are nothing like they are back in Sydney, however the privates are similar to the public ones back in Sydney. 

[BritManToo]

2 minutes ago, 4MyEgo said:

Yes a GP, e.g. general practitioner at a clinic, who then sent me to the hospital after two different courses of antibiotics didn't work, that outcome was even worse, until I went to a private hospital which sorted it quick smart, I suppose you get what you pay for, that's the way I see it as the public hospitals here are nothing like they are back in Sydney, however the privates are similar to the public ones back in Sydney. 

Odd that,

Because the government hospitals in Thailand appear to be every bit as good as the NHS hospitals in the UK.

The main difference being I can walk right into a Thai government hospital and be treated, while in the UK it'd probably take me 2 months.

I've never used a private clinic in Thailand, well overpriced IMHO, I can buy my own antibiotics from Makro pharmacy @ 30bht/packet, I prefer the 50bht hospital doctor.

 

With Australia being such a fine place, I'm a bit surprised you're here.

Edited July 23, 2020 by BritManToo

[EVENKEEL]

6 minutes ago, BritManToo said:

Odd that,

Because the government hospitals in Thailand appear to be every bit as good as the NHS hospitals in the UK.

The main difference being I can walk right into a Thai government hospital and be treated, while in the UK it'd probably take me 2 months.

I've never used a private clinic in Thailand, well overpriced IMHO, I can buy my own antibiotics from Makro pharmacy @ 30bht/packet, I prefer the 50bht hospital doctor.

 

With Australia being such a fine place, I'm a bit surprised you're here.

It's good you've been able to adjust to Thailand with a limited budget. We always use a private hospital. It makes me feel good I'm providing the best I can afford.

[BritManToo]

1 minute ago, EVENKEEL said:

It's good you've been able to adjust to Thailand with a limited budget. We always use a private hospital. It makes me feel good I'm providing the best I can afford.

You're providing the most expensive.

Expensive and best are different words with different meanings, and one doesn't necessarily indicate the other.

But if it makes you feel good, why not?

I've never found spending lots of money makes me feel good, but that's just me.

Edited July 23, 2020 by BritManToo

[SomchaiCNX]

13 hours ago, HashBrownHarry said:

Quite happy to die a slow painful death being a financial burden to who you leave behind??

 

Interesting.....

There are other options, you know. We read about them on a daily base on this forum.

[marvin1950]

Here in Thailand, the government hospitals are not eqipped to handle certain procedures ( brain injuries, open heat surgery).

Also, they do not have state of the art medical equipment.

 

Try getting a MRI in a government hospital.

[BritManToo]

Just now, marvin1950 said:

Try getting a MRI in a government hospital.

As far as I can see an MRI is mainly done in private hospitals to bump up the treatment costs.

And is rarely necessary. 

[SomchaiCNX]

17 minutes ago, BritManToo said:

You're providing the most expensive.

Expensive and best are different words with different meanings, and one doesn't necessarily indicate the other.

But if it makes you feel good, why not?

I've never found spending lots of money makes me feel good, but that's just me.

 My kids where born in a local hospital with C section, local insurance and enveloppe for the doctor and staff. Less than 5000 for the first and 3000 for the second. It would have been couple hundred thousands in a private hospital. However I spent a fortune on their education.  AS mentioned before, wife and kids have insurance and they spend much more than me as the insurance does not cover the cost. I have a work permit and use the provided thai coverage.

 

[andygrr]

Standard answer to this type of question ''How long is a piece of string''

[Bender Rodriguez]

21 hours ago, villageidiotY2K said:

My current rent is 7500B in 2 story town house

where is that ?  where I live is 25.000 baht or more in moo baan near suvi

 

you plan that money on savings ?  don't you have a STATE PENSION in your country ?

Edited July 23, 2020 by Bender Rodriguez

[checkered flag]

1 hour ago, kenk24 said:

 

Sure - he might reach 95 or 100 and need a good bit of assisted living or worse along the road... 

 

nobody can plan well for dementia... 

 

and the greatest factor might be the unanticipated... how many Brits who were getting 77 baht to the dollar expected to get 10 or whatever they get... yeah, I know like 38+ ---- 40+ when Buddha smiles and they have the correct amulets. 

Yah 38 baht / pound seems a little optimistic. More like 33 to 35 baht/pound. It might be cheaper for Brits to return home than stay, especially when there will be no yearly increases. 

Dementia will cost you about 40,000 baht/mo in a home in CM. 

[4MyEgo]

28 minutes ago, BritManToo said:

Odd that,

Because the government hospitals in Thailand appear to be every bit as good as the NHS hospitals in the UK.

The main difference being I can walk right into a Thai government hospital and be treated, while in the UK it'd probably take me 2 months.

I've never used a private clinic in Thailand, well overpriced IMHO, I can buy my own antibiotics from Makro pharmacy @ 30bht/packet, I prefer the 50bht hospital doctor.

 

With Australia being such a fine place, I'm a bit surprised you're here.

Each to their own, I suppose if I wasn't misdiagnosed with the flu as opposed to a severe chest infection, I wouldn't know the difference, but let's just say, that was my eye opening event to get private cover for emergencies and elective surgery, as for any visits (out-patient) to a private, I would pay for that.

 

As far as Australia being a fine place, you are right in saying that, however if I tried retiring there at 55 it wouldn't be possible as you need a roof over your head, even if you were mortgage free as I was, that said the cost of living there is on par to here, even if you have a roof over your head, so 60,000 baht a month to survive here, would be the same to survive there, however where would the funds come from if I retired at 55 there ?

 

Selling the house freed me up, i.e. I haven't had the need to work for 5 years, I invested my money, earn what I need to survive here, plus, depending on what my month's investments paid out, it's also tax free, have a house 4 times the size of the house I had back there for 1/10th the price. I am also not cramped up with neighbours looking into my windows, just greenery everywhere I look.

 

Thailand has it's warts, but so does Australia, if I had the choice to live here or n Australia, the latter wins hands down, but I chose not to work and enjoy my later years as opposed to reaching 67 and maybe not making long after I retired, i.e. life was meant for living, not working, and I believe I worked 40 years long enough to retire at 55 and enjoy my later years.

 

[BritManToo]

Just now, SomchaiCNX said:

 My kids where born in a local hospital with C section, local insurance and enveloppe for the doctor and staff. Less than 5000 for the first and 3000 for the second. It would have been couple hundred thousands in a private hospital. However I spent a fortune on their education.  AS mentioned before, wife and kids have insurance and they spend much more than me as the insurance does not cover the cost. I have a work permit and use the provided thai coverage.

 

Mine was born in a government hospital maternity ward, natural birth, midwife supervised by doctor. 

I paid 1,000bht for her to have a private room after the birth.

The prenatal care, and postnatal care (including home visits) were all free.

The service exceeded the care provided by the NHS of my 4 previous children in every way.

[BritManToo]

2 minutes ago, checkered flag said:

Yah 38 baht / pound seems a little optimistic. More like 33 to 35 baht/pound. It might be cheaper for Brits to return home than stay, especially when there will be no yearly increases. 

Dementia will cost you about 40,000 baht/mo in a home in CM. 

Off topic,

I've just transferred 6k GBP, in two transactions, got over 40bht/pound on both.

My pension has increased 40% in the last 10 years, the pound has lost 20% in that time ....... I'm quids in!

(At 30bht to the pound, my pension would have remained level)

Edited July 23, 2020 by BritManToo

[SomchaiCNX]

Just now, BritManToo said:

As far as I can see an MRI is mainly done in private hospitals to bump up the treatment costs.

And is rarely necessary. 

My doctor was making an appointment for me and when he started to spell my name the price went up. Even he was surprised and canceled on the spot. Most private hospitals are huge money makers and are based on fear and the false idea that you get better treatment. (in some cases yes) Most be an American thing where they commercialised healthcare ???? I still remember the time some of them asked for credit card details before they would start with the operation. Bad luck for a THai if he got his accident in front of a private hospital. Emmerency guys got paid (extra) to bring the right kind of patient to the right hospital. They changed the law in 97 if I'm correct

[BritManToo]

3 minutes ago, 4MyEgo said:

Selling the house freed me up, i.e. I haven't had the need to work for 5 years,

Good for you, I haven't worked for nearly 20 years.

Retired at 45, will be 65 soon.

[4MyEgo]

1 minute ago, BritManToo said:

Good for you, I haven't worked for nearly 20 years.

Retired at 45, will be 65 soon.

Can I enquire as to how you retired at such a young age and how you have survived since then, e.g. no pensions at 45 right.

[ujayujay]

20 hours ago, checkered flag said:

I'd suggest doubling that plus housing and car expenses. That is if you can speak Thai and eat Thai food. 40K/mo is cheap charlie range, IMO.

....and you have no Idea....I feel sorry for you????????????????????????

[pineapple01]

This must rank amongst the most Bloody Stupid Questions ever asked on TV.

[checkered flag]

9 minutes ago, marvin1950 said:

Here in Thailand, the government hospitals are not eqipped to handle certain procedures ( brain injuries, open heat surgery).

Also, they do not have state of the art medical equipment.

 

Try getting a MRI in a government hospital.

Where I'm at, the local private hospitals send anything complicated to the government hospital because it much better equipped. Some government hospitals are equipped for open heart surgery and/or brain surgery. If not an emergency it would be best to go to a large government teaching hospital. There are many such as , Mahidol University (Rama and Surirat, Chula, Chiang Mai U or Khon Kaen U). Many of providers have western training. Service is much better than in the west. Medical equipment is also very good. 

Don't believe the negative things the grumpy foreigners same on the forum. They are just unhappy and >>>.

[J Town]

3 minutes ago, 4MyEgo said:

Can I enquire as to how you retired at such a young age and how you have survived since then, e.g. no pensions at 45 right.

I found myself in a similar situation. I worked US civil service for 27 years. The US shut down the base at the last place I worked at so I got an early pension at the ripe old age of 46. What this allowed me to do was work at jobs I could never afford without a background stipend. I worked for a while as a sound tech for Celebrity Cruise Lines and got paid to travel and scuba all around the Caribbean. Next, played music in Mexico which sounds nice but was terribly dismal. Then I came to Thailand to get my scuba Instructor rating, fell in love with the country (read: soapies), then when I realized I wanted to get paid for my efforts, I got a TEFL and started teaching English. I hear god watches out for fools and alcoholics, so I am absolutely covered.

[J Town]

9 minutes ago, pineapple01 said:

This must rank amongst the most Bloody Stupid Questions ever asked on TV.

Really? This question rears it's ugly head every couple of months.

[BritManToo]

16 minutes ago, 4MyEgo said:

Can I enquire as to how you retired at such a young age and how you have survived since then, e.g. no pensions at 45 right.

Earned enough working 10 years in the City of London by the time I was 45 to give up work.

I wasn't one of the biggest earners, but I was one of the most frugal spenders.

 

Edited July 23, 2020 by BritManToo

[seancbk]

21 hours ago, villageidiotY2K said:

What's your opinion, experiences or advices my friends?

To answer you subject line...  how long is a piece of string? 

However, you seem to already know what you can live on so not sure what the point of the question is.  

If you can get 13 million baht together before you retire then you should be able to find investments that will grow that capital quite a bit over the next 30 years.  But I can't advise you on what those might be as I'm not a financial advisor.  

What I would be considering is climate change.  In 30 years I am willing to be bet many places will be uninhabitable and that will almost certainly include large parts of Thailand.   

 

[wwest5829]

I speak only for my own planning but it seems to be working for me. Retired in July 2011. Net investment holdings retirement and modest inheritance came in about 500K. What I have done is to draw $2400.USD a month. ($1306 USD from monthly Social Security and balance from aforementioned funds). This amount meets the Thai required 65,000 baht a month coming in from abroad. A working middle class retirement that I think I would be challenged to live in the US on the same monthly budget. Car, motorbike, 4 bed, 3 bath rental. No Mercedes or swimming pool but comfortable. Thus far sustainable for my lifespan, Capital remains at same approximate level ...

Edited July 23, 2020 by wwest5829

[micmichd]

21 hours ago, Grumpy one said:

What makes you think you will reach 80?  

80 years is not that old. 

If you have a slim body (slightly underweight), low blood pressure, and regular exercise, you can get very old here. 

 

To answer OP's question : 

The safest way is a regular pension of monthly 65kb or more. With that you can get an appropriate long-stay visa, and your permit to stay can be extended forever. 

 

Edited July 23, 2020 by micmichd

[PFMills]

Yes, who can really answer this question. When we came here to retire bought a house and a car that’s 13 million gone.

 

Of course it depends how you want to live, if you don’t have quite a good index linked pension you could be in trouble.

 

When we came the exchange rate was 72 to the pound, Now look at it!! 

 

No one knows what it will be in three or four years never mind 30!!

Edited July 23, 2020 by PFMills

[checkered flag]

1 hour ago, 4MyEgo said:

Yes a GP, e.g. general practitioner at a clinic, who then sent me to the hospital after two different courses of antibiotics didn't work, that outcome was even worse, until I went to a private hospital which sorted it quick smart, I suppose you get what you pay for, that's the way I see it as the public hospitals here are nothing like they are back in Sydney, however the privates are similar to the public ones back in Sydney. 

I'm sure the same thing could be said for care in Australia. No one's perfect and sometimes you need to treatment plans. If you are seeing a specialist he/she probably received government sponsored overseas training and is obliged to work at a government hospital twice as long as they spent in residency. Many specialists at private hospital are moonlighting after hours from the government hospitals. I've found the young and brightest MDs at the government hospital, if you learn to navigate the system. If you are experienced with NHS Thailand system should be easy.

I worked in healthcare 40+ years so know what to look for.

[checkered flag]

1 hour ago, BritManToo said:

Odd that,

Because the government hospitals in Thailand appear to be every bit as good as the NHS hospitals in the UK.

The main difference being I can walk right into a Thai government hospital and be treated, while in the UK it'd probably take me 2 months.

I've never used a private clinic in Thailand, well overpriced IMHO, I can buy my own antibiotics from Makro pharmacy @ 30bht/packet, I prefer the 50bht hospital doctor.

 

With Australia being such a fine place, I'm a bit surprised you're here.

Good, one less grumpy old man.

[4MyEgo]

1 minute ago, BritManToo said:

Earned enough working 10 years in the City of London by the time I was 45 to give up work.

 

Must have been some serious coin as I was earning a good 6 figure salary and it wasn't enough, although it took me 7 years after my heart attack, just short of my 48th to say, yep, plan B, if I make it to 55 that's it, I am pulling the plug, in that time, the work got harder and the volumes got bigger and the deadlines shorter, so when I finally made it to 55, was like as snoopy jumping for joy, 5 years on, never regretted my decision, although 55 is young to retire, but now I have PornHub and a much younger wife to keep me busy ????