a friend who might move here

[1FinickyOne]

I know this is very individual - 

 

How much would you say that the average retired expat has in monthly income and savings?

 

My guess was that most people have incomes of USD $1,500 - $2,000 a month... and maybe $50-$100,000 in reserve? 

 

And I do not know his situation other than he is not wealthy... 

[Screaming]

The way some of these expats live, in dumps, and drive, motorbikes, I have to wonder just how much money they have. Most likely, not much.

[OneMoreFarang]

17 minutes ago, 1FinickyOne said:

How much would you say that the average retired expat has in monthly income and savings?

Why does the average matter?

If at all, then I guess the minimum matters.

But that is obviously also a question of location and living standard. An apartment in the middle of Bangkok with AC is more expensive than a non-AC room in nowhere.

 

If your friend has limited money, like most of us, then the big question is what kind of living standard he expects and how much risks he is willing to take (i.e. health issues).

There is no one fits all answer.

[KhunLA]

23 minutes ago, 1FinickyOne said:

I know this is very individual - 

 

How much would you say that the average retired expat has in monthly income and savings?

 

My guess was that most people have incomes of USD $1,500 - $2,000 a month... and maybe $50-$100,000 in reserve? 

 

And I do not know his situation other than he is not wealthy... 

I think you're being generous, considering all the one's on AN that have to use agents.  I'd say $1500 USD at best, w/no reserve.

 

Many probably got and stay married, just for the lower financial requirement.

Edited September 13, 2023 by KhunLA

[OneMoreFarang]

1 minute ago, Screaming said:

The way some of these expats live, in dumps, and drive, motorbikes, I have to wonder just how much money they have. Most likely, not much.

I could afford a car. 99% of the time I use motorcycles. And one of my bikes is a small 150cc bike. It's perfect for heavy traffic.

You could offer me any car and I wouldn't take it if the condition would be that I only use that car and no bike anymore. 

[transam]

4 minutes ago, Screaming said:

The way some of these expats live, in dumps, and drive, motorbikes, I have to wonder just how much money they have. Most likely, not much.

Does it bother you.........?  ????

[transam]

2 minutes ago, KhunLA said:

I think you're being generous, considering all the one's on AN that have to use agents.  I'd say $1500 USD at best, w/no reserve.

How many...........?  ????

[Adumbration]

I don't think the income and cash in reserve is the issue.

 

What breaks most of the chancers is that they get locked into financial commitments they cannot afford..

 

Friend of mine is good example.

 

Has OAP, but knocked up a bargirl at 66, now has to pay for the kid and the bargirl, she extorted him into buying an expensive new car on finance, and just recently he has had to move up to her village because pushed out by rent increases down here due to the Russian invasion.

 

Despite receiving his pension he still has to drawn down on his meagre savings each month to balance the household budget.  Unsustainable situation....and what happens when there is financial medical emergency or otherwise.

 

He is isolated up there, GF is out an about all day and he is left at home watching reruns.

 

I told him not to move to her village because she will pick his bones clean up there and he has no safety net.  GF works in the village but does not contribute one satang to the household budget.

 

True love is truly grand....

 

[SuperSaiyan]

You need minimum $500 to survive, excluding rent, excluding health insurance.

 

$1000, excluding rent, excluding health insurance, will give you a more comfortable life than anywhere in the US or the EU.

[NoDisplayName]

1 hour ago, 1FinickyOne said:

I know this is very individual - 

 

How much would you say that the average retired expat has in monthly income and savings?

 

My guess was that most people have incomes of USD $1,500 - $2,000 a month... and maybe $50-$100,000 in reserve? 

 

And I do not know his situation other than he is not wealthy... 

If you don't know his situation, how would knowing the average ex-pat's financials matter?

 

Ask your friend what he has in reserve, what he has for monthly income, and what kind of lifestyle he wants to maintain.

[LaosLover]

Reading between the lines, prob $3k-ish in my building. Maybe $4K if they like to take a lot of trips and have hot and cold running girlfriends. I'm the middle due to eating out a lot.

[bignok]

2 hours ago, 1FinickyOne said:

I know this is very individual - 

 

How much would you say that the average retired expat has in monthly income and savings?

 

My guess was that most people have incomes of USD $1,500 - $2,000 a month... and maybe $50-$100,000 in reserve? 

 

And I do not know his situation other than he is not wealthy... 

Forget about others. Focus on being realistic.

 

10,000 baht room

8,000 baht food

2,000 baht drinks

Insurance ....

Transport 5,000 baht

Entertainment 10,000 baht

 

35,000 baht plus insurance and visas.

 

Backup funds go into bank. Dont touch.

 

[NanLaew]

I will wait for the chap who recently complained here about being unable to exchange his bin bags for food in a 7-eleven to comment on what's a sustainable income.

[still kicking]

52 minutes ago, bignok said:

Forget about others. Focus on being realistic.

 

10,000 baht room

8,000 baht food

2,000 baht drinks

Insurance ....

Transport 5,000 baht

Entertainment 10,000 baht

 

35,000 baht plus insurance and visas.

 

Backup funds go into bank. Dont touch.

 

Health insurance I could not afford (or get)

Food just a bit less 

No rent (have my own place)

Don't entertain! 

Drinks (only at home)

No need for transport 

[Shop mak]

3 hours ago, 1FinickyOne said:

My guess was that most people have incomes of USD $1,500 - $2,000 a month...

I would guess USD 1,500-2,500 a month average.

 

Some years ago, members here voted how much their pension was, try to find it if important.

 

3 hours ago, 1FinickyOne said:

and maybe $50-$100,000 in reserve?

1,7-3,5 million Baht? Never. Not average.

Many don't even have $10,000 in reserve from my observations and chat. Or insurance.

 

You been here since 2009, you know how many who rent rather than buy a condo. Often for a reason, they have small or no savings at all.

Your 'not wealthy friend' should consider his age, health and future health insurance premium. If age 60+, I would say minimum 5 Mill.Baht limit. Include that in his budget.

Visa, would he possibly need to use a agent or not? Another yearly expense that should be included in his budget.

[JimTripper]

A lot of people I think it’s just the pension. If they did arrive with savings they have spent it on women and partying, especially if they have been here for years. Saving does not seem to be a priority (I know this because almost everybody talks about how much things cost, not how they are saving). The question becomes why maintain a large savings if you’re retired and old??? Can’t take it with you.

Edited September 13, 2023 by JimTripper

[Captain Monday]

3 hours ago, Screaming said:

The way some of these expats live, in dumps, and drive, motorbikes, I have to wonder just how much money they have. Most likely, not much.

The saddest  are the head cases who live like near tramps  but actually have plenty of money which they will not even spend on themselves.

[Celsius]

I come from a third world country and was able to save up more than amounts quoted here....and I just turned 50. 

 

If these amounts are truly correct then I don't feel sorry for any of you. Just stupid to come here with literally nothing. 

 

I am extremely cheap charlie. My wife owns and pays for a car. Insurance, gas, everything. She owns a house yet i still spend usd 1k a month with no booze or women around.

 

You can't live like a Thai in Thailand. You don't have the network and you have to beg for visas and cheap healthcare. Judging by kind of dubious bargirls most shack up with here you don't even have someone watching your back.

 

These amounts surely can't be real?

[1FinickyOne]

1 hour ago, Shop mak said:

You been here since 2009, you know how many who rent rather than buy a condo. Often for a reason, they have small or no savings at all.

I was first here in. 1974... been here FT since maybe 1998... but I am mostly w/Thai people... and I just want to be able to give him some feedback... 

 

I am afraid that as it is for many - with a limited income, the smaller it gets, the more it may make sense to be here... in that, with a very small income, you will likely be out on the streets in the USA... while here you can get a decent small apartment for much less... 

[1FinickyOne]

1 hour ago, JimTripper said:

The question becomes why maintain a large savings if you’re retired and old??? Can’t take it with you.

The answers would be in having money for health care and personal security and to pass along to your family and loved ones here... financial planning would be much easier if we had an expiration date... 

[NanLaew]

1 hour ago, Captain Monday said:

The saddest  are the head cases who live like near tramps  but actually have plenty of money which they will not even spend on themselves.

Since when has frugality and sartorial inelegance been a metric for assessing a person's character or mental health?

[scorecard]

5 hours ago, Adumbration said:

I don't think the income and cash in reserve is the issue.

 

What breaks most of the chancers is that they get locked into financial commitments they cannot afford..

 

Friend of mine is good example.

 

Has OAP, but knocked up a bargirl at 66, now has to pay for the kid and the bargirl, she extorted him into buying an expensive new car on finance, and just recently he has had to move up to her village because pushed out by rent increases down here due to the Russian invasion.

 

Despite receiving his pension he still has to drawn down on his meagre savings each month to balance the household budget.  Unsustainable situation....and what happens when there is financial medical emergency or otherwise.

 

He is isolated up there, GF is out an about all day and he is left at home watching reruns.

 

I told him not to move to her village because she will pick his bones clean up there and he has no safety net.  GF works in the village but does not contribute one satang to the household budget.

 

True love is truly grand....

 

And nobody put himself to blame for his situation.

[Captain Monday]

5 hours ago, NanLaew said:

Since when has frugality and sartorial inelegance been a metric for assessing a person's character or mental health?

Never judge a book by its cover but I guess an assessment of declining mental state can begin when the miserliness and extreme parsimony interferes with their health or work.

Or leads them to crimes of theft and frauds.

Edited September 14, 2023 by Captain Monday

[SiSePuede419]

Money doesn't matter if you have plenty ????

[TheFishman1]

My health insurance is quite good and I pay that once a year I rent a nice two-story house and I have a car and a big bike my average monthly spending being between 40,000 and 50,000 per month my health insurance when I first got here yearly was around US$2000 after 11 years of being here my insurance is around five or $6000 and I pay that once a year that 40 to 50,000 per month is not including insurance, which I paid. Tit

[bignok]

12 hours ago, 1FinickyOne said:

The answers would be in having money for health care and personal security and to pass along to your family and loved ones here... financial planning would be much easier if we had an expiration date... 

Would you like to know your day of passing? I would. Make planning easier.

[bignok]

11 hours ago, NanLaew said:

Since when has frugality and sartorial inelegance been a metric for assessing a person's character or mental health?

Miserable way to live. Live a little.

[bignok]

14 hours ago, NanLaew said:

I will wait for the chap who recently complained here about being unable to exchange his bin bags for food in a 7-eleven to comment on what's a sustainable income.

He is just selective, the bargirls and ladyboys get most of it.

[NorthernRyland]

17 hours ago, Screaming said:

The way some of these expats live, in dumps, and drive, motorbikes, I have to wonder just how much money they have. Most likely, not much.

how long have you been following me?

[1FinickyOne]

2 minutes ago, bignok said:

Would you like to know your day of passing? I would. Make planning easier.

Absolutely... and the reason for passing. I don't want a slow painful disease... 

 

Maude chose to make her own schedule... Harold interfered with a little...