Study reveals how much money you need to retire in Thailand

[PGSan]

12 hours ago, bdenner said:

I do keep an accurate ledger

What an exciting life you have!  

[PGSan]

I find it strange that for the input amount they report capital requirements only, whilst basing the costs on renting rather than ownership.  

[Farang99]

When I retired here I had a little over £5 million. After building a house, buying a car and so on I still had a sizeable lump sum. 22 years later, after local inflation and the demise of the pound I barely scrape a living, certainly nothing like the lifestyle I had anticipated

[the green light]

12 hours ago, bdenner said:

Given the stats they are using about 750K per year compares reasonably with the average 814K I have spent yearly over the past 20 years (I do keep an accurate ledger). That includes house build, cars etc. Not overseas travel.

stupid article and it does say much

food, housing , entertainment,  health care and some travel.

it does not amount to $70k per month.  the cost of living in thailand is around  $3k per month for a nice life.

people choses other countries to retire because they are cheaper than their own country.

 

i do not know what kind of bufallo stuff they were smoking to write such a stupid article.

 

 

[PGSan]

11 hours ago, Airalee said:

Is this all based on ZIRP?

What is this? 

[PGSan]

3 minutes ago, Farang99 said:

When I retired here I had a little over £5 million.

Wow!!  How did you manage to get through that much so quickly? 

[simon43]

1 hour ago, BritManToo said:

... PS, my Thai savings account pays 1.2%, my UK savings account pays 0.8%.

 

My Lao savings account pays 6% ????  Another reason to live here.  My monthly spend is about 28,000 baht, so easy to put money in my savings account each month.

[PGSan]

11 hours ago, BritManToo said:

family of four, on 40,000bht/month.

If I was living alone that would reduce to between 20,000-25,000bht/month.

Very parsimonious towards the other three! 

[PGSan]

2 minutes ago, simon43 said:

so easy to put money in my savings account each month.

Where does this ‘easy money’ come from?

[bdenner]

20 minutes ago, PGSan said:

What an exciting life you have!  

Force of habit being self employed most of my working live.

How many times have you been ripped off through your slack attitude?

[simon43]

3 minutes ago, PGSan said:

Where does this ‘easy money’ come from?

My income as an online science teacher - easy job ????

[Henryford]

17 minutes ago, Farang99 said:

When I retired here I had a little over £5 million. After building a house, buying a car and so on I still had a sizeable lump sum. 22 years later, after local inflation and the demise of the pound I barely scrape a living, certainly nothing like the lifestyle I had anticipated

When do you retire 1900? You managed to get through 250-300 million baht, that's some going.

[1FinickyOne]

12 hours ago, bolt said:

14 years seem a bit short for me.

I retired at age 48... I am probably dead already and haven't noticed.

[danorod]

$390,000 USD? These people are a joke!  Go to Vietnam or the Philippines, much better. I've worked in Asia since 1984, not now, but I did. These people are on crack!

[PGSan]

7 hours ago, ChaiyaTH said:

Ibiza

Retire with the Club med 18-30 crowd!  What fun! 

Edited March 3, 2021 by PGSan

[1FinickyOne]

1 hour ago, Dukeleto said:

I’m off to Bermuda...it’s cheaper!

only if you never leave the triangle..

[Wuvu2]

It's strange to calculate as a lump sum with a fixed burn rate, no anticipated return on the investment, and expecting everyone to die at the same age. It's not a very useful calculation. Most people either have a retirement income stream or have their nest egg invested with some expected return.

 

A more relevant calculation would be a monthly income stream required The napkin math done by members here (about 70k/month) is much more relevant, and kind of tells us what we all already know ????

Edited March 3, 2021 by Wuvu2

[MikeyIdea]

Life expectancy 79, only 14.x years after retirement? That is incredibly short. Another interesting question is why life expectancy is so much lower than in Europe. It's 83 in Italy, 82.5 in Sweden, and 81.5 in the UK. It's 77 in Thailand even

Edited March 3, 2021 by MikeyIdea

[PGSan]

21 minutes ago, bdenner said:

How many times have you been ripped off through your slack attitude?

Whose attitude?  

[Dazinoz]

12 hours ago, internationalism said:

very few pensioners do have saving that large. Even if they sell their house before moving to thailand.

but each has pension, and that's sufficient to survive reasonable well in thailand.

so it's possible to lower standard of living in thailand and have some savings for medical care

When I retired I took my superannuation as a lump sum and sold everything in Australia including house. I came here with $x in Australian bank. That was roughly 22 million Thai Baht at the time. Since I arrived 7 1/2 years ago, the exchange rate has dropped and wiped out about a third or around 7million off my saving. Yeah still same amount in Australia but not converted. I wonder how much exchange rates are taken into account in these calculations. I assume most people still maintain their main balances in country of origin but I could be wrong. Add a couple of life mistakes including a major one, it appears I will have to return to Oz next gear and go on old age pension.

[PGSan]

1 minute ago, MikeyIdea said:

It's 83 in Italy, 82.5 in Sweden, and 81.5 in the UK. It's 77 in Thailand even

And it goes on going up: if you make it to 78 then it gets to well over 85!
Make it long and wealthy!

, 

[PGSan]

1 minute ago, Dazinoz said:

but I could be wrong.

You could indeed!

[HashBrownHarry]

41 minutes ago, Farang99 said:

When I retired here I had a little over £5 million. After building a house, buying a car and so on I still had a sizeable lump sum. 22 years later, after local inflation and the demise of the pound I barely scrape a living, certainly nothing like the lifestyle I had anticipated

WOW

[PGSan]

28 minutes ago, simon43 said:

My income as an online science teacher - easy job ????

Great!  Bubbling test-tubes and dissecting frogs included?  

Or just build your own nuclear-powered spaceship and colonize Mars?

[olfu]

1 hour ago, Crusader said:

Ha, ha, ha, must be based on the fact that retirees stay home all day and do not have much of a life.

It's not as cheap here as it used to be, but wifey and I still average about 2 million a year...and that's not going over the top - just enjoying ourselves. 

Its estimate for single guy--how I'm suppose to have gf or wife?

Having bad luck with females destroy everything.

[easydoor]

For those calling the Immigration requirements extreme or over the limit: this study confirms it is not at all. The requirement of having an income of 65.000TH/m is a real need to live a comfortable life as farang in Thailand. It is more or less what I need every month to live the way mentioned in the article. You can live as a cheap charlie but I have the meaning you did not immigrate to Thailand to make 5 steps back in your way of living you were used to do in your home country.

[Dazinoz]

7 minutes ago, PGSan said:

You could indeed!

Really love the way you only quote one part of my post. Obviously to suit your opinion.

[1FinickyOne]

5 minutes ago, Dazinoz said:

I wonder how much exchange rates are taken into account in these calculations.

that and many other factors cannot be taken into account... and we are all different and have different lives and consequences... I did not see anything in there that calculated medical expenses which can wipe out a good deal of expenses... things change...

 

$1 miilion used to yield 5% or $50,000 a year... now my bank is giving .02% or $2,000 a year... 

 

but there is no way to calculate what each individual will do w/their $$ as far as investments are concerned.. some bought Tesla, some bought Bob's Buggy Whip Manufacturer.. 

[overherebc]

No mention of 'if you fall down the stairs and break a bone or two'.  What does that cost in the various countries.  Only one I can quote is UK where it costs nothing.

After 14 years are they assuming you're gone so won't need insurance?

 

Edited March 3, 2021 by overherebc

[overherebc]

10 minutes ago, HashBrownHarry said:

WOW

Double WOW.