Teachers .... How much have you saved after how many years?

[Ventenio]

Five years.    Absolutely ZERO extra CASH, and I'm happy.  That was the Thailand plan, just don't lose money since even saving 500,000 won't change my life back home that much and I want teaching to simply pay for everything I buy and do here.

 

I did buy an iphone 12 for me and an iphone XS for my gf, which are nice, and I was in Bangkok (not the cheapest).  Again, all my choices, not yours........and last year I'm not sure I worked more than a few months.  But that's my real question.  SOME teachers don't work all year, so I'm curious what is this cumulative savings.  

 

I work less than most, I know.  curious anyhow.    Maybe I'll see 20-years, 10 million.  Who knows....haha.  I don't care about your assets, whatever.......curious about CASH in the bank.  CASH.    cash is king.  

 

bottom line:  you need about 15 MILLION to retire, and that money comes from back home, not from a Thai school.  Had zero money expectations here and made sure that number was reached before my trip.  

 

So, my answer:
 

5 years

Zero more CASH than when I started teaching

 

 

 

 

 

 

[Denim]

Most teachers I know here do so as to remain in Thailand and or to support a family they have here

 

Teaching English is not really a big money maker for the average teacher. A few might be raking it in but they are in the minority.

 

If you are concerned about saving for the future in most case it would be better to bite the bullet and go home in order to get a higher paying job and get a nest egg set up.

[CharlieH]

I think the "career" teachers with higher qualifications etc get the higher salary better positions etc.

Many Teachers here are doing it purely as a vehicle to travel and/or long stay, those will earn enough to get by with small luxuries occasionally as it seems you did.

 

I started out  (20 yrs ago) the teaching purely as a way to travel and experience other places and let someone else pay for it. I spent time in China and not being a drinker or anything did manage to save some money but nothing of any real impact, enough for a flight etc elsewhere.

 

[Neeranam]

 

1 hour ago, Ventenio said:

I work less than most, I know.  curious anyhow.    Maybe I'll see 20-years, 10 million.  Who knows....haha.  I don't care about your assets, whatever.......curious about CASH in the bank.  CASH.    cash is king.  

An asset that is depreciating by 15% every year?

 

I have kept all my savings in Bitcoin for the last 6 years.

 

I saved nothing for the first 7 years. When single in Bangkok, saved 25,000 baht a month.

 

After 27 years, I can save 50k baht a month just from my online job. The longer you stay here, the better paid jobs you can get. Mind you, the older you get, the more expenses -  kids at private schools/unis/foreign unis, etc

 

I have a passive income from my investments and plan to retire, aged 56, next year. 

 

 

 

Edited May 22, 2021 by Neeranam

[CharlieH]

Flame/troll comments and responses removed.

[BritManToo]

2 hours ago, Ventenio said:

I work less than most, I know.  curious anyhow.    Maybe I'll see 20-years, 10 million.  Who knows....haha.  I don't care about your assets, whatever.......curious about CASH in the bank.  CASH.    cash is king.  

 

Most people I know died before they retired.

Think of all the savings/pensions they wasted by not spending it while they were alive and healthy enough to enjoy the money.

[youreavinalaff]

6 minutes ago, BritManToo said:

Most people I know died before they retired.

Think of all the savings/pensions they wasted by not spending it while they were alive and healthy enough to enjoy the money.

Probably died by worrying if they had as much money as others.

 

I have enough for my lifestyle. What others have or need is of no concern of mine.

 

I have a loving family. Much more important to me.

[recom273]

Just bought a rai of land and got most of the money to build the house from teaching, we haven’t scrimped over the past 12 years, enjoyed life, bought all the toys we / I wanted, but resisted the constant requests to buy a car.

So I think, pretty well considering my target in the UK was to save £6000 and get in a plane and spend from 6 months to a year before returning and repeating. 

 

 

[Ventenio]

I was curious how others have done.

 

I feel bad for all the NNES teachers.......after YEARS they OWE money on loans that were co-signed by Thai teachers.  I kept trying to tell them to find another country, but they got complacent.  I guess we all do.

 

Seems like I'm not alone.  Work, buy some stuff, not expect to save much, and use the money to raise a family and/or travel.

 

Back home, the plan was to save, save, save and buy a house.  no mortgage, cash.  Amazingly, after some ups and downs, that really paid off.  Lots of luck involved.

 

Here it's headaches, very little salary (under 45k), but the highs are really high and the lows actually aren't that low.  still headaches.  

 

I really want to start this thread so new teachers understand that even the falangs don't get rich teaching in Thailand.  If you are here thinking you will get ahead financially, think again.  It happens, but it's the exception not the rule.

 

i do wonder how much some of these directors are pulling in..........

[Wiggy]

Have my own condo, which cost 2m 21 years ago. I’ve been here 29 years and have about 10m. I’m 55 and will semi-retire next year. 

[zyphodb]

4 hours ago, Denim said:

Most teachers I know here do so as to remain in Thailand and or to support a family they have here

 

Teaching English is not really a big money maker for the average teacher. A few might be raking it in but they are in the minority.

 

If you are concerned about saving for the future in most case it would be better to bite the bullet and go home in order to get a higher paying job and get a nest egg set up.

good luck getting a higher paid job back home, in the UK anyway, any higher pay is eaten up by the higher costs of living there, I have a far better lifestyle on what I earn here than I had back home...

[zyphodb]

38 minutes ago, Ventenio said:

I was curious how others have done.

 

I feel bad for all the NNES teachers.......after YEARS they OWE money on loans that were co-signed by Thai teachers.  I kept trying to tell them to find another country, but they got complacent.  I guess we all do.

 

Seems like I'm not alone.  Work, buy some stuff, not expect to save much, and use the money to raise a family and/or travel.

 

Back home, the plan was to save, save, save and buy a house.  no mortgage, cash.  Amazingly, after some ups and downs, that really paid off.  Lots of luck involved.

 

Here it's headaches, very little salary (under 45k), but the highs are really high and the lows actually aren't that low.  still headaches.  

 

I really want to start this thread so new teachers understand that even the falangs don't get rich teaching in Thailand.  If you are here thinking you will get ahead financially, think again.  It happens, but it's the exception not the rule.

 

i do wonder how much some of these directors are pulling in..........

 

With all the backhanders and general "fiddles" I'm sure the Directors are doing very nicely, plus they're treated like demi-gods...

[ThLT]

2 hours ago, Neeranam said:

An asset [money] that is depreciating by 15% every year?

 

15% per year? ????

[youreavinalaff]

45 minutes ago, Ventenio said:

after YEARS they OWE money on loans that were co-signed by Thai teachers. 

????????????????????

[alien365]

I've been here nearly 10 years now and have saved about 400k. I could have easily saved more but I want to I enjoy life while I am still young. I dread to think how much I've spent on beer, whisky and freshly roasted coffee over those years, but I don't regret it. Similar could be said when I was living in England. I spent a lot of money on enjoying myself. I still pay towards my UK pension each month and have been putting money towards annuity insurance too, which will help in the latter years of life.

[BangkokReady]

1 minute ago, alien365 said:

I still pay towards my UK pension each month

 

I thought you could only do that for a couple of years once you left the country?

[alien365]

23 minutes ago, BangkokReady said:

 

I thought you could only do that for a couple of years once you left the country?

My understanding is that I can continue up to retirement. I have been paying via direct debit for 8 of my 9 years.

 

https://www.gov.uk/pay-voluntary-class-3-national-insurance

[mvdf]

4 hours ago, Neeranam said:

 

An asset that is depreciating by 15% every year?

 

I have kept all my savings in Bitcoin for the last 6 years.

 

I saved nothing for the first 7 years. When single in Bangkok, saved 25,000 baht a month.

 

After 27 years, I can save 50k baht a month just from my online job. The longer you stay here, the better paid jobs you can get. Mind you, the older you get, the more expenses -  kids at private schools/unis/foreign unis, etc

 

I have a passive income from my investments and plan to retire, aged 56, next year. 

 

 

 

 

LOL... Can't compare to my relentless and disciplined storing of my coins. None spent from the day I acquired them. 

Keeping them for another decade or so. 

 

 

Edited May 22, 2021 by mvdf

[1FinickyOne]

6 hours ago, Ventenio said:

5 years

Zero more CASH than when I started teaching

 

congratulations on having a GF...

[1FinickyOne]

18 minutes ago, mvdf said:

Keeping them for another decade or so. 

 

I actually bought in to GBTC and ETHE - this year.. lost a bit on the btc as gbtc had increasingly larger discounts to btc??? but caught the big run-up in ETHE and sold all... had a tidy profit... 

 

I just can't shake the concept that it isn't imaginary... or can't be easily replicated by anyone else... what would prevent it from disappearing tomorrow? who would you call to get your money back? And whose idea was this in the first place? 

 

I have a friend who many years ago packaged nothing and put in a users manual for playing  "Air Guitar" and sold them in novelty shops...

 

At least w/a pet rock you had something tangible... 

 

Is Bernie Madoff having a good laugh? Who could say?

[4MyEgo]

6 hours ago, Ventenio said:

 

bottom line:  you need about 15 MILLION to retire, and that money comes from back home, not from a Thai school.  Had zero money expectations here and made sure that number was reached before my trip.  

 

You are right about that, plus a little more if you have kids.

 

6 hours ago, Ventenio said:

5 years

Zero more CASH than when I started teaching

 

About the same time, zero more cash, the money I made through investments has paid for everything while I have been here, including overseas and domestic holidays, on average about 70,000 baht a month to survive here, with place paid off, car paid off and private health cover for family.

 

The best part about it for me is, didn't have to work one day in all of those years.

 

Worst part about it, money hasn't grown and it's bloody hot out there ????

 

[Almer]

1 hour ago, alien365 said:

I've been here nearly 10 years now and have saved about 400k. I could have easily saved more but I want to I enjoy life while I am still young. I dread to think how much I've spent on beer, whisky and freshly roasted coffee over those years, but I don't regret it. Similar could be said when I was living in England. I spent a lot of money on enjoying myself. I still pay towards my UK pension each month and have been putting money towards annuity insurance too, which will help in the latter years of life.

Lets hope you live to see the UK pension, you know of course if you snuff it before you retire it is spent on prawn sandwiches in  Westminster, i would put the extra into an annuity at least you can nominate a beneficiary  

[moe666]

6 hours ago, Denim said:

Most teachers I know here do so as to remain in Thailand and or to support a family they have here

 

Teaching English is not really a big money maker for the average teacher. A few might be raking it in but they are in the minority.

 

If you are concerned about saving for the future in most case it would be better to bite the bullet and go home in order to get a higher paying job and get a nest egg set up.

If you want to hit the big time go international school teaching, but you have to scracifice a few years to get all the required certificates and actually do a 4 year university. A friend of mine who worked in Bkk for one of the top schools started out at 120,000 a month this does not include extras such as housing allowance 40,000 a month, over time, masters degree, summer school. When he left to become a assistant principal he was making over 200,000 a month. The only way to make money is as a international teacher.

[worgeordie]

2 hours ago, ThLT said:

 

15% per year? ????

More if you have your assets in Crypto .........????

regards worgeordie

[Neeranam]

13 minutes ago, moe666 said:

If you want to hit the big time go international school teaching, but you have to scracifice a few years to get all the required certificates and actually do a 4 year university. A friend of mine who worked in Bkk for one of the top schools started out at 120,000 a month this does not include extras such as housing allowance 40,000 a month, over time, masters degree, summer school. When he left to become a assistant principal he was making over 200,000 a month. The only way to make money is as a international teacher.

I know people who make 100k plus teaching Chinese kids just by wearing Mickey Mouse ears and playing the ukulele. 

I can make more than an international teacher by teaching business English online while sitting at home in my underpants. 

 

[Neeranam]

1 hour ago, mvdf said:

 

LOL... Can't compare to my relentless and disciplined storing of my coins. None spent from the day I acquired them. 

Keeping them for another decade or so. 

 

 

I have 90% of my coins in staking. 

I get 5% on Btc, up to 20% on others. 

[CharlieH]

1 minute ago, Neeranam said:

I know people who make 100k plus teaching Chinese kids just by wearing Mickey Mouse ears and playing the ukulele. 

I can make more than an international teacher by teaching business English online while sitting at home in my underpants. 

 

Funny that, when I was in China, I made more doing less hours by teaching Business English to China Telecom Managers. After awhile I gave up the kids and only did adults in private tuition. Split my time almost 50/50 with work and travel,  enjoyed those times alot.

[wwest5829]

Yes, I realize you are aiming at those teaching (internationally) here but ... After teaching for 41 years in the USA, in a lower paying state, the result was happily that I could afford a working middle class life ... if I retired to a lower cost country like Thailand as options for living in the USA would be at a lower standard of living.

[kynikoi]

This is only Thailand and Thai money, investments

 

 

 

I've taught at five schools three public and two private.

 

Over 6.5 years I have saved 1,700,00. That does not include trips home but would include approximately one month of holidays per year (approx 325k) in Thailand unless we went abroad (below).

 

Trips in Thailand I paid all.

 

First three years wife paid half, second few paid 25%. Last two years we've not traveled regionally. We've been to Japan twice, Indonesia and Korea. All were at least ten days but Korea was maybe four as stopover. Years prior to that we'd been to Myanmar, Singapore, Malaysia and just Bali.

 

I pay rent, utilities, household items. 80% of shared food as my wife often brings home and orders stuff.

 

Bought a nice laptop 25k. Phone 12k

 

Drink decent bourbon or scotch.

 

We go out to eat once every three weeks.

 

I give her mom b1000  and her dad 500 and a decent bottle of booze when we see them about every six weeks. Take family out twice a year. Extra booze to pop few bottles every year.

 

Very simple, clean AC flat with a decent view. Safe, clean and close to transport.

 

We live simply. My wife saves about 40% of her small paycheck. Eat well.

 

Invested it's almost 3.2m thb I think.

 

I'm a good saver and manage money well. It allowed me to retire mid 40s.

 

Edit. Also Thai SSO about 50k in there now.

Edited May 22, 2021 by kynikoi

[dabhand]

2 hours ago, BangkokReady said:

 

I thought you could only do that for a couple of years once you left the country?

 

Nope.

 

I left the UK in 1979 but continued paying class 3 until I had reached the 35 years contribution level. Started receiving the full state pension 3 years back when I hit 65. Of course frozen but a useful add-on to my private pension. Yes, no benefit if you pass on before or just after reaching 65, but if you manage a good few years thereafter, even frozen, a rather decent ROI.