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


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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.

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 s

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

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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...

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2 hours ago, Neeranam said:

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

 

15% per year? 😄

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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?

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Posted (edited)
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. 

 

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Edited by mvdf
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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?

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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.

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2 hours ago, ThLT said:

 

15% per year? 😄

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

regards worgeordie

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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. 

 

spacer.png

 

I have 90% of my coins in staking. 

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

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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.

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Posted (edited)

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 by kynikoi
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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.

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