Study reveals how much money you need to retire in Thailand

[PGSan]

34 minutes ago, Andrew65 said:

79 being around the average life expectancy for farangs.

 

Expected for whom and by whom at what age, and from which foreign places? Which hat did this figure magically pop out from? 

[Harveyboy]

needs adjusting for families...house to pay ...bills to pay car to run  kids school fees..kids out of school activities..im buggered if that's how how much is needed for a single person living in an apartment..would some one like to do a calculation  based on family of 4 tks would be interesting to know just how buggered i am  ..lol

[pmarlin]

Lot of effort fir a bogus guess work study. I retired in Thailand 10 years ago first 8 years in Bangkok and now 225 K north and spent way over what they say. Hell went over that this year. You buy a decent house, bought two cars during the 10 years plus more but I have lived nice here and have great medical insurance for me and the wife. They only way I stay here is I have great retirement income. 

[newnative]

1 hour ago, Henryford said:

 

My father lived until he was 90 but spent the last 12 years ga ga in a nursing home. You shouldn't count on much quality life after 75.

     It depends.  My Dad lived until a week shy of his 95th birthday.  Sharp as a tack right up until the end.  He loved to bet the horses and  loved playing the stock market--both very well.  Loved board games and card games--especially Bridge.  Loved to travel all over the World and loved spending time with his 6 kids and grandkids.  Loved to read and loved to keep up with current events.   Lived in his own home right till the end.   He always said he wanted to die in his sleep in his own home--and he did.  A life well-lived. 

[PGSan]

1 hour ago, vandeventer said:

plus money for car

Who needs a car?? 

[Andrew65]

5 minutes ago, PGSan said:

 

Expected for whom and by whom at what age, and from which foreign places? Which hat did this figure magically pop out from? 

Farang = Westerner
Examples of Westerners = French, British, Americans
Average life expectancy, Americans 78, Brits 81 (around 79, depending on which figures we look at)

[Purdey]

It may be a mistake to put money into a Thai bank account with almost zero interest at today’s dollar value. Without a plan to keep up with inflation, the rising costs that are difficult to foresee will eat up your savings faster than expected.

[DualSportBiker]

15 hours ago, sirineou said:

What does  $389,835 Mean ?

Is that to retire for the rest of your life?  at what age?  and  how many years would that last you. ?

 

You could try reading the report for yourself. It is not long, in English, and you'll find few willing to read it to you...

[khunjeff]

3 hours ago, PGSan said:

This ‘life-expectancy’.  Is that also in the USA?  Is it ‘at birth’ or ‘at 64’?

 

PS: a mere 14 years post-retirement is an incredibly short time!

 

That's life expectancy at birth - life expectancy at age 65 for men in the US is about 83, and almost 86 for women. So yes, right away that's a fairly major problem with their calculation. But if you look at this more as a comparison among various countries than a specific savings goal, it's still moderately useful.

 

https://data.oecd.org/healthstat/life-expectancy-at-65.htm

[PGSan]

1 hour ago, vandeventer said:

Most pensions also rise with the cost of living.

No, not really.  And for the minority that do, with whose cost of living do they rise?

[David T Pike]

This is STUPID! They should have it for INCOME + SAVINGS, not just SAVINGS! ????

[PGSan]

1 hour ago, ginjag said:

From 65  UK pay only half my pension

Why does only half get paid?

[Andrew65]

2 minutes ago, newnative said:

     It depends.  My Dad lived until a week shy of his 95th birthday.  Sharp as a tack right up until the end.  He loved to bet the horses and  loved playing the stock market--both very well.  Loved board games and card games--especially Bridge.  Loved to travel all over the World and loved spending time with his 6 kids and grandkids.  Loved to read and loved to keep up with current events.   Lived in his own home right till the end.   He always said he wanted to die in his sleep in his own home--and he did.  A life well-lived. 

I have an old British friend who retired to Thailand at 65 with her husband, he dropped dead at 66. Another Brit friend who died at 65 from lung cancer. Then again some will live into their 90's, it's about averages.

[PGSan]

1 hour ago, overherebc said:

I might make another 5/10 years

or 20/30 even.

[RocketDog]

15 hours ago, sirineou said:

What does  $389,835 Mean ?

Is that to retire for the rest of your life?  at what age?  and  how many years would that last you. ?

 

The figures are based on someone living for around 14 years after they retire - with the average age of retirement in America (64) and the average life expectancy (78.7). The same calculations were then applied to almost every country. 

 

As clearly stated in the OP. Reading is a valuable skill to attain. 

[PGSan]

1 hour ago, Henryford said:

You shouldn't count on much quality life after 75.

But many of us are right now continuing to enjoy this superb quality for far longer, without even having to count anything! 

[BritManToo]

1 hour ago, Henryford said:

 

My father lived until he was 90 but spent the last 12 years ga ga in a nursing home. You shouldn't count on much quality life after 75.

Most of my pals died well before 60, I don't know anyone over 70 that has a life I would want to live ....... and I'm 65.

[PGSan]

1 hour ago, newnative said:

 

Edited March 3, 2021 by PGSan

[Dart12]

18 minutes ago, Harveyboy said:

needs adjusting for families...house to pay ...bills to pay car to run  kids school fees..kids out of school activities..im buggered if that's how how much is needed for a single person living in an apartment..would some one like to do a calculation  based on family of 4 tks would be interesting to know just how buggered i am  ..lol

They said retirement age of 64 to death age of 78...not mid life lol.

although 64 seems to have a lot of kids here living with them since wife is 39 ha

[RocketDog]

As per the conditions stated for the estimates given it sounds more like surviving than living IMO. 

But that's just me. 

I purposely lived a more frugal life before retirement (and after divorce sunk my financial boat) because being both old and poor really sucks. Looking back maybe I erred a bit by over-saving but I don't regret it now; far superior to the inverse. Money is a lot easier to spend than earn. 

[PGSan]

1 hour ago, newnative said:

Average SS is around $1500 a month

Averaged over which population?   And does this include parts of the world where the SS no longer generally operates ?

[PGSan]

3 minutes ago, Dart12 said:

They said retirement age of 64 to death age of 78...not mid life lol.

That was ‘mid-life’ for many of us!

[Dart12]

1.  I couldn't find anywhere where they said the Salary /Income the person was making before retiring.  Does anyone know?


2. This sounds like a terrible retirement life.  lol

[ginjag]

16 minutes ago, PGSan said:

Why does only half get paid?

Living in Thailand from the 65 pension start, the law says NO increment increases, so an old age pension then of 89 pound a week, is still the same. IF I lived in Phil, I would get full pension of approx 169 pond a week.

[PGSan]

7 minutes ago, BritManToo said:

Most of my pals died well before 60, I don't know anyone over 70 that has a life I would want to live ....... and I'm 65.

Only way they could get away from you, I guess.

 

And your circle must be very impoverished in the over-70s department  — there are plenty of over 75s/80s/90s who are leading far better lives than your pal-less(?) one.   Get to know us! 

[Clarkey611]

I do not drink coffee. Do you think they could re-calculate with a take out beer each week?

[PGSan]

1 hour ago, 1FinickyOne said:

still have their marbles into their 90s,

No, lost them down the gutter at 6.  Waaaah!

[Salerno]

16 minutes ago, RocketDog said:

Reading is a valuable skill to attain. 

 

As is reading the thread before posting, pretty sure sirineou must be getting sick of the multitude of BMs picking him up on something he acknowledged 15 hours ago.

[ICELANDMAN]

Pakistan is the cheapest with a tent and a camel, no bar girls.

[ThailandRyan]

31 minutes ago, Andrew65 said:

I have an old British friend who retired to Thailand at 65 with her husband, he dropped dead at 66. Another Brit friend who died at 65 from lung cancer. Then again some will live into their 90's, it's about averages.

Don't forget it is also about your lifestyle and how you chose to live either healthily or eating like a glutton with added vices thrown in to the excess as well.