How much money is required for 30 years retirement?

[Kadilo]

49 minutes ago, rumak said:

I am usually placed fairly low on the "quality scale" ..... well,  the one that is based on what people

think i am worth.  I drive a Vios,  don't have (or want) a 6 million baht plus home, and just look and

act like a "normal guy" .   Clean, but no designer exercise outfits.

Funny, today a waitress I have known for over 10 years heard I was selling my home/ land.

When she found out the asking price she said " Rumak, if I had known long ago that you were rich

I would have flirted with you" .    She was joking of course.  Or was she ???   ????????

Yeah I love the way people judge others by their appearance or materialistic goods. The Thais are among the worse. When I’m over I walk whenever I can, and when I don’t I have a scooter. 

I have had many Thais stop on the road and offer me a lift somewhere as they think I’ve broken down or lost. My girlfriend says they think I’m mad because they tend not to walk anywhere. 

Ive also had them tell her in a snide way that I must be poor because I don’t own a car. 
 

It’s great, I love keeping under the radar and letting them believe what they want. I do the things I want, not because I can’t afford to do it different, I don’t want to do it different. 
 

Of course, in some people’s eyes, I’m just a “rag bag“  bla bla 

 

Suits me fine. 

Edited July 23, 2020 by Kadilo

[DogNo1]

The real wild card will be inflation.  With the amount of debt that governments are racking up, we will probably have pretty wicked inflation starting 3-4 years from now.  Also, lookout for Black Swan events.  I had planned to return to Japan for the summer but now find myself paying rent in both Japan and Thailand until travel opens up between the countries.

Costs have gone up quite a bit in Bangkok over the past ten years.  Regarding investments, my retirement income investments are handled by LLFA in New York.  No single holding exceeds 3-4% of my portfolio.  I make a little more than 4% after fees.  IMO, expecting 6% is overly optimistic.  For medical care, plan to have 1-3 million Baht in cash stashed away in insurance for illness or injury that would make it impossible to travel back to your home country.  Be aware there may be waiting lists for your procedure back home.  

[EbhB]

Surely you mean physical precious metals, not fiat money?

 

The decades of stability we've had will NOT continue or come back in any recognizable way...

 

Plan accordingly, personally I took a hit on the baht strengthening as I transferred assets - BUT gains in PCMs more than offset that. Now, and from now on gold and silver is UP only!

[Old Nomad]

Be careful if you don't have an insurance or annuity to cover your longevity risk (at least covering your minimum living requirements). See "The Ultimate Guide to Safe Withdrawal Rates" especially "Myth #2: Flexibility has to last only as long as the downturn“ in Part 24: Flexibility Myths vs. Reality".

[mokwit]

2 hours ago, Susco said:

But of course that hasn't happened where some blind members live

What they never tell you is they have no inflation because they eat the family rice, eat the family chicken eggs and cut the green tips off the tree to eat.

Edited July 23, 2020 by mokwit

[mokwit]

3 hours ago, Kwasaki said:

Wrong depends when you buy them and the time of the season when you buy. 

Well I'm afraid I don't have time to go to the wet market every time I want a piece of fruit or a coconut. On the street and in the supermarket prices have gone up. Price of fruit on the street is the same all year round if you are buying ready cut from the guys with the glass cabinets. Price of fruit sold out of the back of pickups varies with seasonality e.g. mangkut. Pomelo in supermarket has gone from Bt 79 to Bt 135 last few years with no seasonal variation.

Edited July 23, 2020 by mokwit

[Kadilo]

16 minutes ago, mokwit said:

What they never tell you is they have no inflation because they eat the family rice, eat the family chicken eggs and cut the green tips off the tree to eat.

What’s up with  that ? 

[micmichd]

16 minutes ago, mokwit said:

What they never tell you is they have no inflation because they eat the family rice, eat the family chicken eggs and cut the green tips off the tree to eat.

Don't think it's easy on an Issan farm. Much work to do, and really hot in the daytime. Nice in the evenings, but you buy your beer (and the beer for your family) in a shop. 

[mokwit]

12 minutes ago, Kadilo said:

What’s up with  that ? 

 

7 minutes ago, micmichd said:

Don't think it's easy on an Issan farm. Much work to do, and really hot in the daytime. Nice in the evenings, but you buy your beer (and the beer for your family) in a shop. 

Not knocking you guys who are doing it, that simple life has certain charms. I'm just making a point about people who smugly post that they are not experiencing this inflation others are talking about but fail to explain why. Likewise the people who are "in and out of Immigration in 5 minutes" but don't tell us they live in a province with more immigration officers than farangs and it was a 3 hour drive there and 3 hours back.

Edited July 23, 2020 by mokwit

[sidjameson]

21 hours ago, BritManToo said:

Smaller portions are good for your health.

Just think about all the future hospital bills you'll be saving by losing that extra weight.

 

Most of my money is spent on

the house, my mortgage has gone down over the last 8 years, although I still pay the same 11k/month.

the woman, that's been 10k/month for the past 10 years (different women, same price).

my daughter school and university .... that expense goes next year ..... big saving.

Can't say I've ever spent much from my budget on food, it's such a trivial expense.

On ignore for your next post that has nothing to do with Thailand or this discussion.

Fantastic budgeting. 

Do you think if you were to try and get something acceptable for your bed in 2020 you could find something new for 10k?

[Acharn]

You don't mention if you have a Thai wife. The minimum income required by Immigration for retirees is ฿65,000/month. I've found I can live pretty well on that, and I lived in Bangkok for twenty years. I think you could get by on ฿40,000/month with a Thai wife. I don't  believe a farang, living alone, could, but I never had to try. If you intend to live "up-country" I believe you absolutely must learn to speak Thai. You don't need native fluency, but you need enough so you can explain your needs/problems, and be able to look up words you think you will need before going out. Before I retired from the Army I expected to be living in areas where it was unlikely to meet an English-speaker, so I devoted a lot of effort to it. It's useful to know what people around me are talking about. Learning to read is good, too.

[Kwasaki]

55 minutes ago, mokwit said:

Well I'm afraid I don't have time to go to the wet market every time I want a piece of fruit or a coconut. On the street and in the supermarket prices have gone up. Price of fruit on the street is the same all year round if you are buying ready cut from the guys with the glass cabinets. Price of fruit sold out of the back of pickups varies with seasonality e.g. mangkut. Pomelo in supermarket has gone from Bt 79 to Bt 135 last few years with no seasonal variation.

A fair call but where you live is the problem I would say with price we can only agree to disagree.

I understand other places, other than where I live are more expensive supermarket and street vary, the Mrs buys very little from supermarkets, and not from street if they are too high, Mrs buys local markets and knows where to buy.

[Dave0206]

4 hours ago, EbhB said:

Surely you mean physical precious metals, not fiat money?

 

The decades of stability we've had will NOT continue or come back in any recognizable way...

 

Plan accordingly, personally I took a hit on the baht strengthening as I transferred assets - BUT gains in PCMs more than offset that. Now, and from now on gold and silver is UP only!

Not sure if you transferring assets was so bad for 2 months I was monitoring Thai baht against euro and Swiss franc I’ve been congratulating myself as baht was dropping like a stone now 20 mins ago it strengthened by over 3% in minutes 

[Dave0206]

7 minutes ago, Dave0206 said:

Not sure if you transferring assets was so bad for 2 months I was monitoring Thai baht against euro and Swiss franc I’ve been congratulating myself as baht was dropping like a stone now 20 mins ago it strengthened by over 3% in minutes 

Update sorry do not know why I saw old rates Thai baht still dropping good for me 

[BritManToo]

2 hours ago, Acharn said:

You don't mention if you have a Thai wife. The minimum income required by Immigration for retirees is ฿65,000/month. I've found I can live pretty well on that, and I lived in Bangkok for twenty years. I think you could get by on ฿40,000/month with a Thai wife. I don't  believe a farang, living alone, could, but I never had to try. If you intend to live "up-country" I believe you absolutely must learn to speak Thai. You don't need native fluency, but you need enough so you can explain your needs/problems, and be able to look up words you think you will need before going out. Before I retired from the Army I expected to be living in areas where it was unlikely to meet an English-speaker, so I devoted a lot of effort to it. It's useful to know what people around me are talking about. Learning to read is good, too.

Not every white guy is so stupid they can't speak the language or interact with locals without an uneducated farm girl by their side.

I can totally manage Thai markets, mom and pop stores, and booze shops. I hardly buy anything in supermarkets.

 

Had sticker shock in 7-11 today, had to get some wine coolers in a hurry (late for meeting a girl at a love hotel and didn't want to pay their fridge prices), 34bht instead of 28bht from my local booze shop ....... still 10bht less than the hotel prices.

Edited July 23, 2020 by BritManToo

[Dave0206]

7 hours ago, checkered flag said:

What happens if you die Wednesday. Can we use the money for a party  wake. "Dave was a good old guy..."

You are welcome to use the remaining cash for a party .i don’t mind the old guy but you may want to rethink the good bit

[marvin1950]

Retired people live here and worry about 10 baht price difference.

 

Pathetic

Thais call this "Cheap Charlie"

[BritManToo]

Just now, marvin1950 said:

Retired people live here and worry about 10 baht price difference.

Pathetic

Thais call this "Cheap Charlie"

If I could save 10bht on every purchase I made, it would be enough to pay my kid's university fees.

Never met a Thai that wouldn't save 10bht if he could.

[checkered flag]

14 hours ago, Kadilo said:

Yeah I love the way people judge others by their appearance or materialistic goods. The Thais are among the worse. When I’m over I walk whenever I can, and when I don’t I have a scooter. 

I have had many Thais stop on the road and offer me a lift somewhere as they think I’ve broken down or lost. My girlfriend says they think I’m mad because they tend not to walk anywhere. 

Ive also had them tell her in a snide way that I must be poor because I don’t own a car. 
 

It’s great, I love keeping under the radar and letting them believe what they want. I do the things I want, not because I can’t afford to do it different, I don’t want to do it different. 
 

Of course, in some people’s eyes, I’m just a “rag bag“  bla bla 

 

Suits me fine. 

That's fine in Europe but in Thailand they think you are nuts. When you keel over in the heat or get run over, I hope you can cover the hospital bill. Thais don't all have much, but don't willingly act like you.

[marvin1950]

Thais save 10 baht in one hand gamble it with the other.

[checkered flag]

12 hours ago, mokwit said:

 

Not knocking you guys who are doing it, that simple life has certain charms. I'm just making a point about people who smugly post that they are not experiencing this inflation others are talking about but fail to explain why. Likewise the people who are "in and out of Immigration in 5 minutes" but don't tell us they live in a province with more immigration officers than farangs and it was a 3 hour drive there and 3 hours back.

The biggest risk isn't inflation. It's the fall of the pound. 

[checkered flag]

14 minutes ago, marvin1950 said:

Thais save 10 baht in one hand gamble it with the other.

Lotto is 80-100  baht /ticket. 0 baht is the underground lotto.

[mokwit]

16 minutes ago, checkered flag said:

The biggest risk isn't inflation. It's the fall of the pound. 

Historically it turned out that the biggest risk wasn't inflation but the fall of the pound - it might be different going forward.

[bodga]

a LOT

[bodga]

26 minutes ago, checkered flag said:

Thais don't all have much, but don't willingly act like you.

They'd  be  way  better  off if  they did  though.

[bodga]

51 minutes ago, marvin1950 said:

Retired people live here and worry about 10 baht price difference.

 

Pathetic

Thais call this "Cheap Charlie"

Many Thais  havent got enough money for tomorrow, what do you call that, Id  call it  plain dumb

[EVENKEEL]

3 minutes ago, bodga said:

Many Thais  havent got enough money for tomorrow, what do you call that, Id  call it  plain dumb

It's called life.

[checkered flag]

3 minutes ago, bodga said:

They'd  be  way  better  off if  they did  though.

It's called dignity,

[mokwit]

4 minutes ago, bodga said:

Many Thais  havent got enough money for tomorrow, what do you call that, Id  call it  plain dumb

I'd call it low wages.

[NightSky]

Better to work on installing reliable income streams like rental properties, dividend investments and hobby businesses. You’ll never run out of money hopefully and then you’ll also have a legacy to donate to the save the soi dog fund. ????????

 

I rekon to meet your 50,000baht/month budget you’ll need 5 rental properties overseas each producing 8,000 baht/month after tax and expenses. And put 500,000 baht in a stocks fund paying 5% dividend and another 400,000 in an emergency cash savings. Keep 100,000 baht worth of gold bullion as a last resort insurance policy and setup a part time 2 hours each day online hobby income stream either e-commerce or teaching, or providing a service producing 10,000 baht month (something to keep your mind busy)

 

this all ads up to over 50,000 baht/month income and you don’t pay any rent because you purchased a house in the sticks for 500,000baht

 

This diversified income for life is possible from an initial cash investment of about 7million baht

 

You’re welcome 

????