Study reveals how much money you need to retire in Thailand

[HOAX]

Considering I`ve spent roughly 12-15 million excluding properties and vehicles the past 10 years if my math is correct, 11 million in 14 years (70k/month) seems reasonable, though you`ll probably be fine with 8 million (50k/month) as long as you don`t set yourself up for a family situation.

[fusion58]

On 3/2/2021 at 7:19 PM, snoop1130 said:

In order to retire in Singapore ($946,993) or Hong Kong($871,578), you’d need around three times the amount of savings needed to retire in Thailand.

 

Neither of those two countries offer any sort of retirement visa, to my knowledge.

Edited March 4, 2021 by fusion58

[BritManToo]

Just now, fusion58 said:

Neither of those two countries offers any sort of retirement visa, to my knowledge.

Is Singapore or Hong Kong a country in which anybody would want retire?

Many of their folk seem to retire here.

[Morch]

2 minutes ago, BritManToo said:

Is Singapore or Hong Kong a country in which anybody would want retire?

Many of their folk seem to retire here.

 

Singapore, I can understand, for some people with deep pockets. Not my kinda town for a long stay. HK, on the other hand, was. We actually gave relocation a thought at some point. Given political developments, guess it's a non-starter these days, especially if you're from the UK.

[Maha Sarakham]

On 3/3/2021 at 5:19 AM, AlfHuy said:

And never mention that you have a life insurance, worth xxx.

Life could be very short after that information to brother, uncle;.....

 

As sad as this sounds, it has the potential to be true. 

 

My wife was sharing her Facebook feed with me lately, people were saying a guy was "so lucky" and "won the lotto" when he had a heart attack and got 5 million baht from his insurance company.  That and the parents of some neighbors passing away and them partying the "life insurance funds" away for the rest of the Thais to see, the envy was making them seethe and the gossip was flying everywhere... such a circus.

[hioctane]

13 hours ago, Sheryl said:

 

The average life expectancy at age 65, in the US, is 89.

 

Do not confuse life expectancy at birth with life expectancy at later ages.

 

I think it is due mostly to healthcare. My parents are in their 80s but they see a doctor regularly and they take a fistful of pills daily.

 

How many expects in Thailand even see a doctor on a regular basis? 

[SmartyMarty]

complete rubbish.

[CaptainCarrot]

17 hours ago, Sheryl said:

 

The average life expectancy at age 65, in the US, is 89.

 

Do not confuse life expectancy at birth with life expectancy at later ages.

The approach used ignores:

Firstly, the average age of death of 78 is for the whole world population. But those considering retirement with savings of over USD1/4m will be only from the developed world, where average life expectancy is in the 80-82 year range. So add say 3 years to their numbers or 20%.

https://www.ssa.gov/oact/STATS/table4c6.html

Then as already identified, if you are considering these calculations you are probably in your 60’s, and are not one of a set of “all population” but of a set of “those who have survived to 64 (say)", so your life expectancy is higher than 80-82. Those actuarial tables show that at 65 average life expectancy is 17.89 years for males, or age 83. So add another 2 years so now we are talking around 30% increase.

But these calculations are for AVERAGE life expectancy. So there is a 50% chance you will live longer, and therefore run out of money. To be reasonably certain you would want to look to a 90-95% probability level, which would take you roughly to age 91 – another 8 years and now we are up to about 100% increase.

I guess you could cut down on the western meals when you hit 80??

[Farang99]

On 3/3/2021 at 9:20 AM, vandeventer said:

Who really comes over here with a lump sum to live on ? Yes we need extra money to either rent or buy a house plus money for car but most of us are on pensions. Most pensions also rise with the cost of living. They really shouldn't throw these silly figures around!

UK Government pensions DO NOT RISE WITH THE COST OF LIVING IF YOU LIVE OUTSIDE THE UK/EU AND A FEW OTHER COUTRIES. tHEY ARE FROZEN AT THE VALUE WHEN YOU RETIRE OR LEAVE THE UK

 

I retired in 1998 and reached pension age in 2000, by which time I was living here, so my pension is frozen at the 2000 value - 20 years of COL retained by the government.

[WhatsNext]

20 hours ago, Neeranam said:

I think my life expectancy was longer at aged 20 than aged 50. 

 

Think of it like this : Now you can't die at 49 anymore, rejoice !

[Whale]

Pakistan here I come!!

[thaibeachlovers]

On 3/4/2021 at 6:12 PM, BritManToo said:

I've not encountered any foreigner in Thailand that made it past 70.

My pals all died in their 40s, 50s, 60s.

Dave2 actually made it to 70, then was found dead in his bed shortly after.

I'm 65 and wouldn't bet on me reaching 70 either.

Don't be so sure about that. I'm no picture of health but still made it past my allotted number of years.

I'm sure that when my time comes it will be at an inconvenient time and involve a lot of Drs treating me like a practice dummy, followed by a ghastly rest home, where the government will attempt to relieve me of as much money as they can before I can escape to the other side.

To be frank, I hope when it happens it's quick, not too painful and before they can put me in a rest home.

[thaibeachlovers]

6 hours ago, CaptainCarrot said:

I guess you could cut down on the western meals when you hit 80??

Don't you mean eat MORE western food? Western food is more likely to knock us off than Asian, being full of chemicals, salt, sugar and is over processed.

Unless of course you want years of being forced to watch day time tv.

[BritManToo]

1 hour ago, thaibeachlovers said:

Don't be so sure about that. I'm no picture of health but still made it past my allotted number of years.

You're not in Thailand though.

I know plenty of guys over 70 years old back in the UK, not one of them have a life I would want to be living.

Maybe having to scrape a living, being cold all the time, and having no sex since age 40, makes a guy live longer, but what's the point?

[Pmax]

On 3/3/2021 at 8:14 AM, the green light said:

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.

 

 

Best reply so far ! . Living and working in TH for over 20 Years and $3K/month would be my number for a single guy in Thailand living with western standards and having some decent time out during the week. Traveling, Entertainment, health care do the thing. If you (she) plan to have more kid(s) in your 60's with a GF half the age....add another $1K/month for a decent lifestyle and education over the next 20 Years.

At the end, it depends how you want to live, set your standards. The mentioned 70K, in my case, are gone for the basics already.

I got friends living under 20K per month - do I want this lifestyle ? No

I got friends living over 200K p month - do I need this lifestyle ? No

As said, it is up to your standards. The standards YOU set, not a reporter.

For me it is an easy questions / answer, the minimum lifestyle I would have in my home country plus the benefits, perks of living in a foreign country. And I refuse to live on noodle soup and leo beer, driving a Honda Dream.

Long enough here to see more guys leaving then coming. The dream of living here a quality life is much more expensive than most think.

[thaibeachlovers]

16 hours ago, BritManToo said:

You're not in Thailand though.

I know plenty of guys over 70 years old back in the UK, not one of them have a life I would want to be living.

Maybe having to scrape a living, being cold all the time, and having no sex since age 40, makes a guy live longer, but what's the point?

Not wrong there.

[thaibeachlovers]

14 hours ago, Pmax said:

And I refuse to live on noodle soup and leo beer, driving a Honda Dream.

Give up the Honda and beer, and you'll not only eat better but be healthier and have a better chance of not being killed on the road.

[BritManToo]

My  Hondas allow me to drive through traffic as if it wasn't there.

I don't like driving around in the pickup, too  much traffic.

Hard to give  up the scooter/mc.

Edited March 7, 2021 by BritManToo

[ThailandRyan]

14 minutes ago, BritManToo said:

My  Hondas allow me to drive through traffic as if it wasn't there.

I don't like driving around in the pickup, too  much traffic.

Hard to give  up the scooter/mc.

The daughter has stolen your bike Brit.  Need to make sure she wears those leathers 

[BritManToo]

Just now, ThailandRyan said:

The daughter has stolen your bike Brit.  Need to make sure she wears those leathers 

I think she looks good enough as she is.

Normally her place is on the back, with her legs folded like chicken wings.

Edited March 7, 2021 by BritManToo

[ThailandRyan]

1 minute ago, BritManToo said:

I think she looks good enough as she is.

Normally her place is on the back, with her legs folded like chicken wings.

Safety first last and always. Rode my bike to just south of Samut Prakan today. Hot as F.... going to take a break and cool off while I watch a movie. Cost of doing business.  

[elliss]

On 3/2/2021 at 8:20 PM, sungod said:

I guess if you are worried about a few quid here and there then you dont qualify.....

 

    Correct .

    The budget  tears ..

    Go Home . If possible ...

    Burned bridges , etc ..

[thaibeachlovers]

16 hours ago, BritManToo said:

My  Hondas allow me to drive through traffic as if it wasn't there.

I don't like driving around in the pickup, too  much traffic.

Hard to give  up the scooter/mc.

No matter how carefully I drove, there was usually some <deleted> driver in a big car that attempted to wipe me out on my m'bike. Yes it was faster through the traffic and I took the chance every time I drove it, but I had to accept that my next trip might be my last.

The girl in the photo does not appear to be wearing a helmet or gloves- either of which can reduce severe injury in the event of coming off because there was sand on a corner and going too fast.

[wolf81]

It's pretty close to the amount I calculated for myself. 

 

Previously I calculated I'd need about 350.000 USD and this would be assuming we wouldn't pay rent. We don't have loans. Investing the money pretty defensively (4% profit a year) should earn 0.04 * 350.000 USD = 14.000 USD a year or about 420.000 THB. 420.000 THB / 12 is about 35.000 THB a month.

 

Yes it wouldn't be wild living on that budget, but it'd be ok. 

 

Saving a bit more before retirement is a good idea though. 

[realfunster]

5 hours ago, thaibeachlovers said:

The girl in the photo does not appear to be wearing a helmet or gloves- either of which can reduce severe injury in the event of coming off because there was sand on a corner and going too fast.

Come on sourpuss, it’s a staged front yard photo, she’s not bombing down Motorway 7 at a 120km/h. 

[WhatupThailand]

How much does it take to retire in Thailand ?

I think it is B800,000.0,  or B65,000.00 per month,

in a Thai Bank owned by Government Cronies.

[Bangkokazy]

Here is the calculator

 

Cost of living Estimator

https://www.numbeo.com/cost-of-living/estimator_main

 

Cost of Living Estimator in Pattaya, Thailand

https://www.numbeo.com/cost-of-living/city-estimator/in/Pattaya

[Yewbzee]

On 3/3/2021 at 2:38 PM, Morch said:

 

People end up here for all sort of reasons, not necessarily because they are enamored with the country. Also, things change, maybe was a paradise for him earlier, not so much now. Who knows?

 

Should be is great. But in real life, there's often a trade off.

 

I don't dispute that, my question was if thats the case why not leave instead of staying in a place you dont want to be while whining about it at every opportunity?

[Swimfan]

I would die in a year from caffeine withdrawal 

[Morch]

3 hours ago, Yewbzee said:

 

I don't dispute that, my question was if thats the case why not leave instead of staying in a place you dont want to be while whining about it at every opportunity?

 

Because sometimes life happens. Not everything is easy or even possible to undo, and sometime the tradeoff just isn't worth it or people not up to it. Whining (if that's what it is) is legit, overdoing it is annoying.

 

There was, not long ago, a nice topic where posters discussed their biggest regrets and what-ifs. Not all of it Thailand related. Not all bad. Gave some good perspective on such stuff.