How much savings do I need to retire in Bangkok.

[thaibeachlovers]

Hmmm. OP seems to have gone AWOL. LOL.

[Grecian]

9 minutes ago, xylophone said:

Short term rental to exercise the ferret wouldn't break the bank!

Why is it always assumed on here that guys have to pay for it?

[thaibeachlovers]

2 minutes ago, Grecian said:

Why is it always assumed on here that guys have to pay for it?

[Alwaysthailand]

On 8/2/2021 at 5:28 PM, OneMoreFarang said:

It depends if you like the hottest young and pretty gogo dancers or if you accept those old women who are already 20 years in that business.

They are hot and worth every baht...

[OneMoreFarang]

30 minutes ago, xylophone said:

As far as the OP's post goes, IMO he would be better off renting a nice little apartment and taking it easy in the bars and on the bar girls!

What an interesting advice to someone who wants to retire in Thailand. But maybe he is here because of the food and the temples. ???? 

[Sparktrader]

12 minutes ago, Grecian said:

Why is it always assumed on here that guys have to pay for it?

Never free. Marriage is half a house.

[OneMoreFarang]

5 minutes ago, Alwaysthailand said:

They are hot and worth every baht...

I would run away before they hit me with those things.

[Sparktrader]

6 minutes ago, OneMoreFarang said:

I would run away before they hit me with those things.

Id take it on the chin

[khunpa]

When I first moved to BKK I spent 7 months going completely crazy EVERY day/night. Lived right next to Nana Plaza to make things easy ????

 

Spent A LOT of money, but also have some fun and crazy memories from that time.
 

After that initial “booster” I got so tired of the nightlife, that have hardly been out since. Saved me a lot of money in the long run.

 

So highly recommend doing a “booster” to start with! 
 

PS. You have enough money, unless you fall in love with some girl and have to feed her village. in that case no amount is enough.

Edited August 3, 2021 by khunpa

[OneMoreFarang]

6 minutes ago, khunpa said:

When I first moved to BKK I spent 7 months going completely crazy EVERY day/night. Lived right next to Nana Plaza to make things easy ????

 

Spent A LOT of money, but also have some fun and crazy memories from that time.
 

After that initial “booster” I got so tired of the nightlife, that have hardly been out since. Saved me a lot of money in the long run.

 

So highly recommend doing a “booster” to start with! 
 

PS. You have enough money, unless you fall in love with some girl and have to feed her village. in that case no amount is enough.

If you can still remember it then you didn't party hard enough. ???? 

[Sparktrader]

1 minute ago, OneMoreFarang said:

If you can still remember it then you didn't party hard enough. ???? 

He is still alive

[Sparktrader]

13 minutes ago, khunpa said:

When I first moved to BKK I spent 7 months going completely crazy EVERY day/night. Lived right next to Nana Plaza to make things easy ????

 

Spent A LOT of money, but also have some fun and crazy memories from that time.
 

After that initial “booster” I got so tired of the nightlife, that have hardly been out since. Saved me a lot of money in the long run.

 

So highly recommend doing a “booster” to start with! 
 

PS. You have enough money, unless you fall in love with some girl and have to feed her village. in that case no amount is enough.

How many women?

[MayBeNow]

I dont think i understand the question..

You really ask if you can live on a full western pension and 220k in a country less then a quarter of the living costs compared to where you live now?

Will be tight, will be tight.

 

 

Edited August 3, 2021 by MayBeNow

[MayBeNow]

Whoops

Edited August 3, 2021 by MayBeNow

[Sparktrader]

1 hour ago, thaibeachlovers said:

Hmmm. OP seems to have gone AWOL. LOL.

Savings ran out already...phone scam

[Sparktrader]

7 minutes ago, MayBeNow said:

I dont think i understand the question..

You really ask if you can live on a full western pension and 220k in a country less then a quarter of the living costs compared to where you live now?

Will be tight, will be tight.

 

 

Yes but the bargirls will eat into that

[Alwaysthailand]

54 minutes ago, OneMoreFarang said:

I would run away before they hit me with those things.

I would drink from them betting there's real coconut milk - LOL.  Dont worry, they're soft, playful, and very friendly...

[rwill]

You could put about 100,000K into QYLD and get around 1,000 monthly dividend payment.  QYLD has a good monthly dividend but your principal doesn't grow.   Sometimes it will be up, sometimes down.  But you still get the monthly dividend based on how many shares you bought.  Put another 20-30K into SCHD, it has a quarterly dividend, but over time you principal will grow.  It will give you some additional funds to spend.  QYLD yield is around 11.8% right now and SCHD is about 2.8%.

 

If you open a Schwab One International account you can use your Thai address and Thai phone number.  You can also get a debit card with no fees that also rebates the fee Thai banks charge on ATM withdrawals, so you can get your money with out paying fees for it.  Also you can wire money from the account to your Thai bank for free too.

[DSBones]

If you look at Moneychimp there is a "risky retirement calculator" that is useful for working out how long your money will last in retirement. It does depend on your lifestyle obviously but assuming the following:

220k invested 60:40 in stocks:cash

0% interest on cash

1% charges on investments

20 years of retirement up to age 86

 

The OP can spend 10k per year and his money will never run out.

Add his full UK pension and this goes up to a total of just over £19k.

At today's rate that is about 70,000 baht per month. If his pension is not index linked then 70k becomes say 50k in 20 years. As the value of the pension goes down the cost of medical insurance shoots up.

I think 70k is on the limit for Bangkok. I wouldn't do it. However, I think it is enough for Pattaya/Jomtien.

 

[khunpa]

36 minutes ago, Sparktrader said:

How many women?

Enough to prefer to play sudoku on my phone when I visited GOGOs in the years after ????

[Sparktrader]

3 minutes ago, khunpa said:

Enough to prefer to play sudoku on my phone when I visited GOGOs in the years after ????

100?

[dlclark97]

Being from the USA and not knowing the amount of your pension it is hard to provide any accurate answers.  I have lived in England so I think I can safely say your fuel costs will be a little cheaper here.  The fuels here are about the same or slightly higher than in the USA.  Depending on the visa you obtain there may be a required health insurance policy from an approved Thai insurance company needed.  At 66, they may not be too expensive but very cheap either.  Basic needs would be 40,000 THB for outpatient care and 400,000 THB for inpatient care.  And, you could be required to have a COVID policy for the covered amount of $100,000 USD.  Someone earlier gave good advice on food.  If you love Thai food it can be very reasonable.  But, if you prefer your home style or other western style foods expect to pay as much as 3 times the prices you are used to.  You may also be required to keep 800,000 THB in a Thai bank.

 

I assume you have either worked or holidayed here at some time past.  If it was many years ago do not expect things to be as inexpensive as they may have been at that time.  Good earlier advice on not getting involved with varius businesses some people may want you to invest in.  Another piece of advice, do not loan money you can not afford to lose to anyone no matter how nice she looks..

 

Wish you well! 

 

 

[Doctor Tom]

1 hour ago, Alwaysthailand said:

They are hot and worth every baht...

Frightening. like being close to a two legged dairy cow.   Sorry, not for me. 

[Doctor Tom]

27 minutes ago, DSBones said:

If you look at Moneychimp there is a "risky retirement calculator" that is useful for working out how long your money will last in retirement. It does depend on your lifestyle obviously but assuming the following:

220k invested 60:40 in stocks:cash

0% interest on cash

1% charges on investments

20 years of retirement up to age 86

 

The OP can spend 10k per year and his money will never run out.

Add his full UK pension and this goes up to a total of just over £19k.

At today's rate that is about 70,000 baht per month. If his pension is not index linked then 70k becomes say 50k in 20 years. As the value of the pension goes down the cost of medical insurance shoots up.

I think 70k is on the limit for Bangkok. I wouldn't do it. However, I think it is enough for Pattaya/Jomtien.

 

I live in the Pattaya area on 100K+ per month. Comfortable, yes, excessive, no,  I couldn't live as I do in Bangkok on that amount, even if I had the wish to do so, which I don't. 

[Sparktrader]

26 minutes ago, Doctor Tom said:

I live in the Pattaya area on 100K+ per month. Comfortable, yes, excessive, no,  I couldn't live as I do in Bangkok on that amount, even if I had the wish to do so, which I don't. 

Nightlife budget is...

[Doctor Tom]

Just now, Sparktrader said:

Nightlife budget is...

I am not a bar goer.  My 'nighttime' entertainment is either a meal in a restaurant, a BBQ around the pool at home or with friends,  or relaxation with dogs and g/f at home. 

[Sparktrader]

1 minute ago, Doctor Tom said:

I am not a bar goer.  My 'nighttime' entertainment is either a meal in a restaurant, a BBQ around the pool at home or with friends,  or relaxation with dogs and g/f at home. 

How you spend 100k then?

[Doctor Tom]

1 minute ago, Sparktrader said:

How you spend 100k then?

easily 

[Sparktrader]

Just now, Doctor Tom said:

easily 

What rent u pay

[petertucker48]

Don’t view Bangkok to live.

From experience would recommend Cha Am/Hua Hin everything you need and not too expensive many Farang/Westeners to offer advice.

Rent first/permanently.

Enjoy!!