How much money is required for 30 years retirement?

[thaibeachlovers]

On 7/24/2020 at 3:54 PM, Nemises said:

20,000b per month in a regional city (with swimming pools, expat bars, large shopping malls etc) covers regular foot massages, car costs, regular car trips staying at nice hotels, dining out every night on Thai food, rent of apartment and weekly rent of beautiful, young pussy. 

and weekly rent of beautiful, young pussy.

55555555555555555555555555555555555

If you can afford all the rest as well as that, either they ain't beautiful or young, or you are talking about a real cat.

Edited July 25, 2020 by thaibeachlovers

[thaibeachlovers]

On 7/24/2020 at 4:00 PM, whiteman said:

I will keep it simple    income per month  141057 Bhatt  Expenses 96785  CASH OVER  44272 per month.

 

Assets still I have 9.69 million Bhatt

house in N.Z. VALUE 8.9 MILLION BHAT TOTAL TOGETHER 18.59 MILLION BHAT to fall back on if need to.

 

I have a house here and 2 cars all paid for and a Thai partner of 16+ years no children.         I am 73 arrived here in Thailand at 57 with 44 millions Bhatt           so 44million had now have 18.59 million left + spent 10 million on a house here.

 

so came with 44 spent 10 on house ==  34million  still have left 18.59   === spent 15.41 million in 16 years  hope that helps. I also have Health cover for both of us and 4 dogs and 8 cats. I am very happy with my life hope this gives you what can happen here if you stay long term

   

Sooooo, you spent 10 million on a house you can't own. You'd better hope she doesn't get a better offer or just get bored with you.

[checkered flag]

12 minutes ago, thaibeachlovers said:

How about this- if your wife loves the AC too mut, tell her to go out and work to pay for it.

 

A decent pension of about 100k baht month

555555555555555555

We weren't all corporate CEOs.

 

 

She actually did and is now retired also, 

[marvin1950]

He can own the 10 million house, but just can't own the land.

[thaibeachlovers]

On 7/24/2020 at 3:16 AM, BritManToo said:

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.

Dunno what it is with all those farangs that want to know what the gossips are saying about them, or talk about food. Never found any reason, ever, to want to speak conversational Thai, and I've lived where people don't speak any English.

Oh, forgot that it might have been nice to know what they were saying on Thai tv soaps which were all I got to see in the village, but I can live without knowing.

[thaibeachlovers]

4 minutes ago, marvin1950 said:

He can own the 10 million house, but just can't own the land.

I know that, but try living in a house when the land owner wants you out. They have ways, you know, and not all pleasant. There is a thread somewhere about a wife threatening to plant drugs and call the cops.

Forget about selling it if the land owner won't agree, but can try the courts if one thinks lawyers are trustworthy. There was a guy in Phuket that does not think so.

Edited July 26, 2020 by thaibeachlovers

[thaibeachlovers]

On 7/24/2020 at 8:59 PM, checkered flag said:

Enjoy your one star plan. 

I lived very nicely on 25k a month and would do so again in a heartbeat. It's easy as long as one doesn't want rent girls or a wife.

Unfortunately I couldn't afford the health insurance, so took my 800k and went home. Still haven't spent all the 800k. It's easy to live reasonably happily as long as one doesn't have a girlfriend, and certainly not with a wife.

[ThailandRyan]

41 minutes ago, thaibeachlovers said:

No, only those that think they are kings or emperors will be going home. Those that are able to live like a Thai will be staying.

Nope no need to live like a Thai in order to stay here and keep living the way I have always lived.  Can keep this up for at least another 30 years.  Annuities and quarterly payments are a great thing.

[marvin1950]

You certainly have a lonely life with no female companionship at your retirement age.

 

25 k a month no way unless you want to live like a monk.

[whiteman]

I have  a 30 year lease on the land registered  at the government  local office my health insurance is with AXA UK taking out online in Thailand

Edited July 26, 2020 by whiteman

[Tounge Thaied]

Take your current cost of lifestyle and be prepared to:

 

Rough estimate:

Add 2% annually for inflation (unless your pension plan does this)

Add 2% annual safety margin for potential changes in exchange rate

Add 2% annually for annual rising of out of pocket medical expenses and/or rising insurance rates

Finally, you must keep a large amount set aside for emergency health costs, especially when you approach the age of 75, currently the policy is you will not be eligible to enroll in any health insurance. 

Edited July 26, 2020 by Tounge Thaied

[thaibeachlovers]

12 minutes ago, marvin1950 said:

You certainly have a lonely life with no female companionship at your retirement age.

 

25 k a month no way unless you want to live like a monk.

There's no man lonelier than the man with a horrid wife. Way better being alone as women always made me miserable, sooner or later.

25k is fine as only women cost large. I had a nice life without any women in it, and didn't even have to get up at 4 am to chant prayers.

[BritManToo]

30 minutes ago, thaibeachlovers said:

I know that, but try living in a house when the land owner wants you out. They have ways, you know, and not all pleasant. There is a thread somewhere about a wife threatening to plant drugs and call the cops.

Forget about selling it if the land owner won't agree, but can try the courts if one thinks lawyers are trustworthy. There was a guy in Phuket that does not think so.

Yeas,

I always thought trying to live in her village, where almost everyone was related to her and wants you gone, was a daft idea.

Best to have never lived surrounded by her relatives in the first place. 

[BritManToo]

15 minutes ago, marvin1950 said:

You certainly have a lonely life with no female companionship at your retirement age.

25 k a month no way unless you want to live like a monk.

Almost ever guy I knew in the UK

Lived without female companionship although a few did manage to live with a woman who hated them.

Don't think there were many that were over 40 that still had sex with their wives.

(Not that I can really imagine having sex with a 50+ year old woman)

[thaibeachlovers]

4 minutes ago, BritManToo said:

Yeas,

I always thought trying to live in her village, where almost everyone was related to her and wants you gone, was a daft idea.

Best to have never lived surrounded by her relatives in the first place. 

Obviously I agree with that.

[checkered flag]

30 minutes ago, thaibeachlovers said:

I lived very nicely on 25k a month and would do so again in a heartbeat. It's easy as long as one doesn't want rent girls or a wife.

Unfortunately I couldn't afford the health insurance, so took my 800k and went home. Still haven't spent all the 800k. It's easy to live reasonably happily as long as one doesn't have a girlfriend, and certainly not with a wife.

I commend you for living a happy life so cheaply. I personally need more and don't want to have to watch the prices of everything.  

Sorry you had to go home, but don't know how you could make it in the UK for the same.

[BritManToo]

Just now, checkered flag said:

I commend you for living a happy life so cheaply. I personally need more and don't want to have to watch the prices of everything.  

Sorry you had to go home, but don't know how you could make it in the UK for the same.

I've always watched the prices of everything.

Even in the days where I had enough money left over to buy a new car for cash every year.

I worked had to get it, and I'm not giving it away!

[checkered flag]

25 minutes ago, BritManToo said:

Yeas,

I always thought trying to live in her village, where almost everyone was related to her and wants you gone, was a daft idea.

Best to have never lived surrounded by her relatives in the first place. 

It all comes down to the family and what they are about. I live next to two of my wife's sisters and they are always helpful. My wife's niece calls me her second dad since her own father died, as does her brother. They are both graduates of a university and do very well. When I try to give them some money or pay their student loans they refuse. The rest of the family is always respectful and rarely will ask for help. No complaints.

I do speak Thai and can read. 

My wife's family has been in this town for many generations and is well established socially. This is a very comfortable and safe place for me.

That said, I've know some falongs that don't get along well and are always being hit up for money. We didn't fall into that trap. When there are village events, funerals, weddings, etc, we always donate generously but within our means, because this is what our Thai neighbors also do.  

However, we don't loan money.

Edited July 26, 2020 by checkered flag

[BritManToo]

Just now, checkered flag said:

My wife's family has been in this town for many generations and is well established socially. This is a very comfortable and safe place for me.

And this is after a bitter and acrimonious divorce from your wife?

If so I'm impressed, if not your post is nonsense.

[JensenZ]

On 7/22/2020 at 12:29 PM, villageidiotY2K said:

Hello boys and girls,

if you wanna retire in Thailand How much money is required for 30 years till DEATH?

I'm not 50 yet, but I guess I would like to retire around 55.

 

I've estimated below,

Age: 55-75, 40,000B per month, 500,000B per year, 10MB for 20 years

Age: 75-85, 30,000B per month, 360,000B per year, 3.6MB for 10 years

30 years total = 13.6MB

 

I dont plan to stay in BKK and most likely move around in the sticks or northern rentals, maybe try neighboring countries.

My current rent is 7500B in 2 story town house, electric bill + water around 1500B.

I dont eat at pricey restaurants often and I guess my expenses are around +-30,000B per month.

I have private health insurance, car insurance.

 

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

Any estimates you can make are pre-covid estimates and not valid going forward, This is not the time to make retirement decisions because governments are literally printing money to get themselves out of debt. Money is losing value, fast. We are at the brink of a worldwide depression that could make the 1929 Great Depression seem like a party by comparison.

 

If I had a wad of retirement cash (unfortunately I do not), I would buy gold with most of it. Gold reserves are going to get sparse as people around the world clamour to buy it. It pushed through to $1905 per ounce on Friday, only 16 days after it pushed through $1800... and it has only just begun. In a year or so, when the world gets the viral pandemic under control, you'll be in a very good position to retire as you convert some of your gold hoard back into fiat currency.

Edited July 26, 2020 by JensenZ

[checkered flag]

12 minutes ago, BritManToo said:

And this is after a bitter and acrimonious divorce from your wife?

If so I'm impressed, if not your post is nonsense.

We've been married a very long time. Never perfect or never bad. She is still a gorgeous woman.

[Tagged]

3 minutes ago, JensenZ said:

Any estimates you can make are pre-covid estimates and not valid going forward, This is not the time to make retirement decisions because governments are literally printing money to get themselves out of debt. Money is losing value, fast. We are at the brink of a worldwide depression that could make the 1929 Great Depression seem like a party by comparison.

 

If I had a wad of retirement cash (unfortunately I do not), I would buy gold with most of it. Gold reserves are going to get sparse as people around the world clamour to buy it. It pushed through to $1905 per ounce on Friday, only 16 days after it pushed through $1800... and it has only just begun. In a year or so, when the world gets the viral pandemic under control, you'll be in a very good position to retire as you convert some of your gold hord back into fiat currency.

How much gold you need, would maybe be a better idea? 

 

If you b

Edited July 26, 2020 by Tagged

[BritManToo]

Just now, checkered flag said:

We've been married a very long time. Never perfect or never bad. She is still a gorgeous woman.

I was married to my Brit wife for 30 years before she openly declared her hate for me.

And her family never spoke to me again, despite me treating them all as my own family for 30 years.

This was despite them professing to be devout Christians, and her being an adulteress.

 

They are her family not your family.

Their feelings for you will be driven by her feeling for you.

If you believe different, you're living a fantasy.

 

[JensenZ]

3 minutes ago, Tagged said:

How much land or gold you need, would maybe be a better idea? 

Either way, whatever you buy now will be worth a lot more in a year or two, whether you need it to retire with, or just pay bills.

 

[BritManToo]

5 minutes ago, JensenZ said:

when the world gets the viral pandemic under control, you'll be in a very good position to retire as you convert some of your gold hord back into fiat currency.

If it's TEOTWAWKI, you'll wish you had invested in a bunker full of sacks or rice, guns and ammo.

Your 'when' is very optimistic IMHO.

[JensenZ]

Just now, BritManToo said:

If it's TEOTWAWKI, you'll wish you had invested in a bunker full of sacks or rice, guns and ammo.

Your 'when' is very optimistic IMHO.

In a year, whatever gold you have now will be worth infinitely more. I estimate it will breach $2000 an ounce in August and keep flying after that. I already predicted it would push through $1900 last week by Thursday or Friday, which it did.

 

Gold at any price is not expensive. It will be the new currency, as it has been for thousands of year.

 

I agree that saying "a year or so" was optimistic. I don't really think that, but my post was probably depressing enough.

[checkered flag]

4 minutes ago, JensenZ said:

Any estimates you can make are pre-covid estimates and not valid going forward, This is not the time to make retirement decisions because governments are literally printing money to get themselves out of debt. Money is losing value, fast. We are at the brink of a worldwide depression that could make the 1929 Great Depression seem like a party by comparison.

 

If I had a wad of retirement cash (unfortunately I do not), I would buy gold with most of it. Gold reserves are going to get sparse as people around the world clamour to buy it. It pushed through to $1905 per ounce on Friday, only 16 days after it pushed through $1800... and it has only just begun. In a year or so, when the world gets the viral pandemic under control, you'll be in a very good position to retire as you convert some of your gold hord back into fiat currency.

In short you are not ready to retire and need more security in life. Bad things can happen but they will most likely affect everyone, so cost of everything will go down. It's call supply and demand. When the British pound was at 72/baht a few years ago it was grossly overvalued and has fallen by about half. In the 70s and 80s the dollar was pegged at 23 baht/dollar then went to 40/dollar, now about 30 / dollar. So that's life, but everything was a lot cheaper. The Thai export economy can't handle a lower exchange so I'm sure it won't change anytime soon. 

 

I'll take life as it comes and not get paranoid about what could happen. 

[Tagged]

2 minutes ago, JensenZ said:

In a year, whatever gold you have now will be worth infinitely more. I estimate it will breach $2000 an ounce in August and keep flying after that. I already predicted it would push through $1900 last week by Thursday or Friday, which it did.

 

Gold at any price is not expensive. It will be the new currency, as it has been for thousands of year.

 

I agree that saying "a year or so" was optimistic. I don't really think that, but my post was probably depressing enough.

Anyway, there is some obstacles with gold, and it is storage, if you do not buy gold stocks, and keeping land as security when you live in Thailand, you need to trust a person, since you can not own land in your own name. So? What to do? I have an appartment left where I come from, and that will be my security in the future, as it give me income now I almost could live on for my monthly living cost. If I had two or three I would have more than enough, but also more worries and more to take care off. 

[JensenZ]

Just now, checkered flag said:

In short you are not ready to retire and need more security in life. Bad things can happen but they will most likely affect everyone, so cost of everything will go down. It's call supply and demand. When the British pound was at 72/baht a few years ago it was grossly overvalued and has fallen by about half. In the 70s and 80s the dollar was pegged at 23 baht/dollar then went to 40/dollar, now about 30 / dollar. So that's life, but everything was a lot cheaper. The Thai export economy can't handle a lower exchange so I'm sure it won't change anytime soon. 

 

I'll take life as it comes and not get paranoid about what could happen. 

LOL> not ready to retire? I've been retired for quite some time already, and it's too late to stop now. The question is how to fund my retirement going forward. I'm not stressed about it as I too take life as it comes, but the advice is for someone that has wads of cash right now. 

 

Stating things as I see it is not paranoia anymore than burying one's head in the sand is.

[ThailandRyan]

7 minutes ago, JensenZ said:

In a year, whatever gold you have now will be worth infinitely more. I estimate it will breach $2000 an ounce in August and keep flying after that. I already predicted it would push through $1900 last week by Thursday or Friday, which it did.

 

Gold at any price is not expensive. It will be the new currency, as it has been for thousands of year.

 

I agree that saying "a year or so" was optimistic. I don't really think that, but my post was probably depressing enough.

Just buy yourself some gold and silver Krugerrands, a smattering of silver ingots, add some loose diamonds and your good.