1FinickyOne Posted June 4, 2022 Share Posted June 4, 2022 Do any of the retirees here use this guideline for drawing down savings? I am not much of a spender and I usually earn more than 4% through investments - and I don't particularly live on a budget or a financial plan... though I do regularly help family w/future endeavors. One of the issues I have is that you create a savings as a lifetime habit - it is not comfortable to spend the savings - - and yet, it is unlikely that I will live forever... 1 Link to comment Share on other sites More sharing options...
Popular Post bolt Posted June 4, 2022 Popular Post Share Posted June 4, 2022 Sometimes I go through a spending frenzy, its because I want to spend it before they do they're really good at blowing it and then asking for more, they seem to think we have limitless funds 3 1 Link to comment Share on other sites More sharing options...
1FinickyOne Posted June 4, 2022 Author Share Posted June 4, 2022 4 minutes ago, bolt said: Sometimes I go through a spending frenzy, its because I want to spend it before they do they're really good at blowing it and then asking for more, they seem to think we have limitless funds hope not too personal, but what do you splurge on? I could use a new car -and yet my 10 yr old vehicle is still fine.. And my family is nice - they even know the difference between a gift and a loan - and they pay back the loans... Link to comment Share on other sites More sharing options...
giddyup Posted June 4, 2022 Share Posted June 4, 2022 I haven't accumulated a fortune in savings, but enough to see me through, and at 80 my spending habits are moderate to say the least, so it's highly likely there will be a couple of people who are going to do quite OK upon my demise. Link to comment Share on other sites More sharing options...
Lacessit Posted June 4, 2022 Share Posted June 4, 2022 My aim is to stay capital stable with my investments, and use the income from those investments to supplement my Australian OAP. I try to work on a monthly average budget of 55,000 baht. I missed the target in 2019, hit it in 20 and 21. On course to do it again in 22. Link to comment Share on other sites More sharing options...
Lacessit Posted June 4, 2022 Share Posted June 4, 2022 2 minutes ago, giddyup said: I haven't accumulated a fortune in savings, but enough to see me through, and at 80 my spending habits are moderate to say the least, so it's highly likely there will be a couple of people who are going to do quite OK upon my demise. What's in Thailand goes to my Thai GF, what's in Australia goes to my son. He will probably do much better with my ex-wife, she got a head start from the Family Court. 2 Link to comment Share on other sites More sharing options...
Will B Good Posted June 4, 2022 Share Posted June 4, 2022 Trying not to touch capital (interest/dividends all reinvested) and 'survive' purely on income from company and state pensions plus income from rental properties. Major expenditure was lady drinks, but the wife has put a stop to that...........???? 1 Link to comment Share on other sites More sharing options...
giddyup Posted June 4, 2022 Share Posted June 4, 2022 1 minute ago, Lacessit said: What's in Thailand goes to my Thai GF, what's in Australia goes to my son. He will probably do much better with my ex-wife, she got a head start from the Family Court. I'm similar, except my Thai GF gets the bulk and my ex wife in Australia gets a modest amount. Link to comment Share on other sites More sharing options...
Lacessit Posted June 4, 2022 Share Posted June 4, 2022 1 minute ago, giddyup said: I'm similar, except my Thai GF gets the bulk and my ex wife in Australia gets a modest amount. It's all relative, my GF will get what she would consider a fortune, my son gets what he would consider to be a nice chunk of change. My ex-wife and former partner in Australia get nothing, they screwed enough out of me as it is. 1 Link to comment Share on other sites More sharing options...
moogradod Posted June 4, 2022 Share Posted June 4, 2022 12 minutes ago, Will B Good said: Trying not to touch capital (interest/dividends all reinvested) and 'survive' purely on income from company and state pensions plus income from rental properties. Major expenditure was lady drinks, but the wife has put a stop to that...........???? Do you do that with Thai Baht and achieve something like 4% ? My problem is that I only have THB in Thailand which would yield something just above 1%. And it should be easy to manage for my wife after I will meet my maker. Banks (at least in Pattaya) are not really in the consulting business and I have no experience investing either. Link to comment Share on other sites More sharing options...
Will B Good Posted June 4, 2022 Share Posted June 4, 2022 1 hour ago, moogradod said: Do you do that with Thai Baht and achieve something like 4% ? My problem is that I only have THB in Thailand which would yield something just above 1%. And it should be easy to manage for my wife after I will meet my maker. Banks (at least in Pattaya) are not really in the consulting business and I have no experience investing either. My capital and income all come from the UK......investing really is easy these days......the golden rule is "eggs and baskets".......I rarely invest in individual shares stick to big funds, property and P2P lending.....and a little side bet on cryptos......555 2 Link to comment Share on other sites More sharing options...
ChaiyaTH Posted June 4, 2022 Share Posted June 4, 2022 If you had it invested in gold you could increase your spendings by 6%. Link to comment Share on other sites More sharing options...
moogradod Posted June 4, 2022 Share Posted June 4, 2022 1 minute ago, ChaiyaTH said: If you had it invested in gold you could increase your spendings by 6%. Sure. The magic word here is "IF". If I had invested in Bitcoins a couple of years ago (which I nearly would have done ???? but of course have not) I would be a Billionaire Link to comment Share on other sites More sharing options...
ChaiyaTH Posted June 4, 2022 Share Posted June 4, 2022 (edited) 2 minutes ago, moogradod said: Sure. The magic word here is "IF". If I had invested in Bitcoins a couple of years ago (which I nearly would have done ???? but of course have not) I would be a Billionaire Gold has been doing that for like 2 decades and was quite obvious upfront, if you understand economy at least. But S&P or many other things would have done just as good. 4% if very poorly done, specially if it was over a longer time already. I think it is pathetic to see how long many people work and waste their vital years in life, to then have huge amounts but getting silly returns, and still worry and budget their life daily. Specially as the current retirement generations had the best time in the world to build up anything. My generation does not even see a pension before age 71.5. Perhaps that is why it kicks balls to make it happen myself at a young age already. Edited June 4, 2022 by ChaiyaTH Link to comment Share on other sites More sharing options...
moogradod Posted June 4, 2022 Share Posted June 4, 2022 1 minute ago, ChaiyaTH said: Gold has been doing that for like 2 decades and was quite obvious upfront, if you understand economy at least. But S&P or many other things would have done just as good. 4% if very poorly done, specially if it was over a longer time already. Yes, you may be right - but this is for long term commitments. And no guarantee that even the stock market will always rise within reasonable time periods. Most of investments are connected to luck, but who would not go for a 4% guaranteed income ? I have studied economics and electrical engineering. They dont teach you how to invest. 1 Link to comment Share on other sites More sharing options...
moogradod Posted June 4, 2022 Share Posted June 4, 2022 37 minutes ago, Will B Good said: My capital and income all come from the UK......investing really is easy these days......the golden rule is "eggs and baskets".......I rarely invest in individual shares stick to big funds, property and P2P lending.....and a little side bet on cryptos......555 Thanks ! Property in Thailand is a subject on its own. I believe the market is by far overevaluated. Would go for a real bargain anytime - especially my wife is looking for a bigger plot with a finished house on it. But not nearly to the prices I have seen. We have a small land (0.5 Rai) in Korat so far. Paid THB 120'00.- for it (well - 17 years ago). Chanote, Government Road - Electric, Water, all you can think of. P2P lending sounds interesting. But in Thailand ? Is this even possible and does it not need a working license, too ? Remember I have only THB in Thai (and one Chinese) Banks. Link to comment Share on other sites More sharing options...
connda Posted June 4, 2022 Share Posted June 4, 2022 2 hours ago, 1FinickyOne said: One of the issues I have is that you create a savings as a lifetime habit - it is not comfortable to spend the savings - - and yet, it is unlikely that I will live forever... Living here in Thailand, at 70 years old - I add to my saving monthly. If you're drawing down on your saving in Thailand? You've got a problem. Now, if you lived in the US, UK, and some places in the EU. I could understand that. Living here in Thailand? Then you don't have income. Link to comment Share on other sites More sharing options...
moogradod Posted June 4, 2022 Share Posted June 4, 2022 1 minute ago, connda said: Living here in Thailand, at 70 years old - I add to my saving monthly. If you're drawing down on your saving in Thailand? You've got a problem. Now, if you lived in the US, UK, and some places in the EU. I could understand that. Living here in Thailand? Then you don't have income. Pension. Link to comment Share on other sites More sharing options...
Will B Good Posted June 4, 2022 Share Posted June 4, 2022 1 minute ago, moogradod said: Thanks ! Property in Thailand is a subject on its own. I believe the market is by far overevaluated. Would go for a real bargain anytime - especially my wife is looking for a bigger plot with a finished house on it. But not nearly to the prices I have seen. We have a small land (0.5 Rai) in Korat so far. Paid THB 120'00.- for it (well - 17 years ago). Chanote, Government Road - Electric, Water, all you can think of. P2P lending sounds interesting. But in Thailand ? Is this even possible and does it not need a working license, too ? Remember I have only THB in Thai (and one Chinese) Banks. Mmmmm....P2P is unlikely in Thailand I imagine.....and of course if you convert to say GBP to get into the market you are then at the mercy of exchange rates as well (as I am). P2P is a nice steady earner, relatively low risk, but still brings in about 6% pa. 1 Link to comment Share on other sites More sharing options...
Excel Posted June 4, 2022 Share Posted June 4, 2022 2 minutes ago, moogradod said: Pension. Now that will confuse him ???? Link to comment Share on other sites More sharing options...
1FinickyOne Posted June 4, 2022 Author Share Posted June 4, 2022 9 minutes ago, connda said: Living here in Thailand? Then you don't have income. Why not? though currently only about 15% invested, I was 80+% invested for many years and the profits were re-invested. All while living here in Thailand... Do you not count that as income? The tax man back home surely does... 1 Link to comment Share on other sites More sharing options...
bolt Posted June 4, 2022 Share Posted June 4, 2022 2 hours ago, 1FinickyOne said: hope not too personal, but what do you splurge on? I could use a new car -and yet my 10 yr old vehicle is still fine.. And my family is nice - they even know the difference between a gift and a loan - and they pay back the loans... Mostly electronics, upgrades from 2-3-4 years, they're a complete waste but make me feel good for 10-30 minutes Decent Shirts & shoes for walking, and I held off buying a TV for 10 years got a New One now and its WOW, 57,000 Thb 65" HUGE difference. one of my friends said" spend BIG on something you use every day, and its worth it long term" 1 1 Link to comment Share on other sites More sharing options...
The Hammer2021 Posted June 4, 2022 Share Posted June 4, 2022 2 hours ago, Will B Good said: Trying not to touch capital (interest/dividends all reinvested) and 'survive' purely on income from company and state pensions plus income from rental properties. Major expenditure was lady drinks, but the wife has put a stop to that...........???? A shroud has no pockets 1 1 Link to comment Share on other sites More sharing options...
Popular Post Pmbkk Posted June 4, 2022 Popular Post Share Posted June 4, 2022 22 minutes ago, connda said: Living here in Thailand, at 70 years old - I add to my saving monthly. If you're drawing down on your saving in Thailand? You've got a problem. Now, if you lived in the US, UK, and some places in the EU. I could understand that. Living here in Thailand? Then you don't have income. At 70 what exactly are you saving for ? 5 2 Link to comment Share on other sites More sharing options...
1FinickyOne Posted June 4, 2022 Author Share Posted June 4, 2022 3 minutes ago, bolt said: Mostly electronics, upgrades from 2-3-4 years, they're a complete waste but make me feel good for 10-30 minutes Decent Shirts & shoes for walking, and I held off buying a TV for 10 years got a New One now and its WOW, 57,000 Thb 65" HUGE difference. one of my friends said" spend BIG on something you use every day, and its worth it long term" Thanks. Very good advice - we have a smart tv in the living room and yet I am content watching my 27" computer screen. Link to comment Share on other sites More sharing options...
Jingthing Posted June 4, 2022 Share Posted June 4, 2022 Yes but I have been.doing 3 percent. With the market down I may do 0 percent for awhile. Link to comment Share on other sites More sharing options...
1FinickyOne Posted June 4, 2022 Author Share Posted June 4, 2022 3 hours ago, Will B Good said: Major expenditure was lady drinks, but the wife has put a stop to that...........???? At least she hasn't put a ban on short time rooms etc... 2 Link to comment Share on other sites More sharing options...
Etaoin Shrdlu Posted June 4, 2022 Share Posted June 4, 2022 I read some time back that many financial advisors were saying that the 4% rule was obsolete and one should draw down less than that amount in order to avoid running out of funds in old age. This was probably due to the low interest rate environment of recent years and conservative investment strategies used by many people. Not sure if it will hold true when interest rates rise or if one invests more aggressively for better returns. 2 Link to comment Share on other sites More sharing options...
Excel Posted June 4, 2022 Share Posted June 4, 2022 10 minutes ago, Pmbkk said: At 70 what exactly are you saving for ? Oh don't spoil his yarn ???? Link to comment Share on other sites More sharing options...
1FinickyOne Posted June 4, 2022 Author Share Posted June 4, 2022 12 minutes ago, Pmbkk said: At 70 what exactly are you saving for ? yes, that is part of the question... and I guess an irony of ageing is that it might be more fun spending your money when you are younger and fitter... but then being 70+ and broke does not sound like much fun either.. 1 Link to comment Share on other sites More sharing options...
.png.3b3332cc2256ad0edbc2fe9404feeef0.png)
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now