How many millions of baht does one need to retire in Pattaya?

[advancebooking]

Im sure that this is the first time that this topic has ever been discussed on this forum. 

 

A friend aged in mid 50s last night asked me how many thai baht (millions) would one need to retire in Pats based on:

- 30k rent a month

- Aged mid 50s with ok health at the moment. 

- Belongs to the govt SS system and thus free hospital treatment at govt hospital 

- Sometimes visit private hospitals for minor treatment. eg sucking out ear wax at ENT dr. 

- Preparing own breakfast at condo

- Dinner at average price restaurants eg Kiss restaurant on 2nd road near soi 10

- 2 x P4P (pay for play) ladies ST per week. 

- 2 x Massage per week. 

 

I told him about 35 million if he lives to 85 yrs old. What do you think? Im sure theres many old guys who can help with this financial assessment. 

[Denim]

200 million should cover it assuming he lives to a ripe old age. That includes self insuring and any medical bills in later life.

[dingdongrb]

Tree-Fiddy

[scubascuba3]

I agree, minimum £1M/44M baht if he's careful

[proton]

Having to have sex twice a week, I feel sorry for him. Id almost pay not to have it. Daft question of course.

[scubascuba3]

6 minutes ago, proton said:

Having to have sex twice a week, I feel sorry for him. Id almost pay not to have it. Daft question of course.

why don't you like sex? your libido may be through the floor but others still enjoy it

[proton]

Just now, scubascuba3 said:

why don't you like sex? your libido may be through the floor but others still enjoy it

 

Boring, rather have a good dump

[Pattaya57]

I would give a serious answer except OP included how much he would need to pay his illegal prostitutes twice a week...thought there was no talk allowed about prostitution on this forum?

 

Edited January 11 by Pattaya57

[OneMoreFarang]

Imagine he falls in love. And his one is obviously different.

Now that will change the whole equation.

 

 

[Sato]

5 minutes ago, Pattaya57 said:

I would give a serious answer except OP included how much he would need to pay his illegal prostitutes twice a week...thought there was no talk allowed about prostitution on this forum?

No prostitution. Girl friends on a leasing bases.

[noobexpat]

If i only had 35m baht, no way would i be paying 30k month rent.

15k month is more appropriate for that level of capital.

[Chivas]

Thats just shy of £800.000

 

MORE than enough lol

 

Even at 5% income that equates to 33.846 Baht a week   !!   Allowing for 7 or 8% income to allow Capital balance appreciation on top thats more than enough

 

4,835 Baht a day all worked out at Sterling/Baht at 44

 

 

Edited January 11 by Chivas

[brianthainess]

Stupid question as it will depend if you have any other regular income or not, like a pension etc. 

[petermik]

100 million was enough 4 me......

[Digitalbanana]

216,256,365 THB should do it.

[quake]

2 hours ago, proton said:

 

Boring, rather have a good dump

 

You can combined the two in this town if like.

Water sports are a go as well.

 

[Furioso]

The ideal way to come to Thailand is to have your net worth increase every year. Pension, investments, interest, work online, etc. Whatever it takes.

 

Sliding downhill for the rest of your life is no way to live. 

[JimTripper]

2 hours ago, scubascuba3 said:

why don't you like sex? your libido may be through the floor but others still enjoy it

Disease. 2x a week and you're going to catch something in pattaya.

 

you're being too careful. that's roughly 1 million baht a year, or $2,500 usd a month every month until 85. not counting weird medical problems. no problems in general, at least not for awhile. could easily cut back if things got weird.

 

the problem is, if you have 35 million do you really want to live in a 30k place forever? your expectations go up when you have that amount of savings. you feel like you deserve better things.

Edited January 11 by JimTripper

[Jingthing]

10 million baht.

Including buy a condo for 3 million baht.

Visa account -- 800K baht.

Invest the rest of it in high risk equities.

Sorted.

[noobexpat]

2 hours ago, JimTripper said:

 

the problem is, if you have 35 million do you really want to live in a 30k place forever? your expectations go up when you have that amount of savings. you feel like you deserve better things.

 

I think you are overestimating ...or maybe i'm just a bit cheap. Possibly the latter!

 

I just don't see £800k as that much, at that age and having to commence drawing down. 

 

[AndyAndyAndy]

I don't understand how people can say "this is it, since now I'm starting death count down and starting to skimp money till I die".  I believe will have little projects, side kicks and even trying to make it big on my death bed day. 

[Keeps]

42 minutes ago, noobexpat said:

 

I think you are overestimating ...or maybe i'm just a bit cheap. Possibly the latter!

 

I just don't see £800k as that much, at that age and having to commence drawing down. 

 

£800,000 should comfortably generate 100,000 THB per month without reducing the capital amount to any large degree (obviously subject to market fluctuations). Just depends on how much per month somebody needs.

 

As a general rule of thumb, dependent on your capital being invested (and doesn't need to be in anything too risky) you should be able to generate/spend 4% per annum of capital without ever running out of capital. In fact, it shouldn't even reduce greatly over time. Inflation will need to be taken into consideration though along with tax. 

 

Personally, I have my SIPP which I can drawdown on if required (I am now 55 years old). During my "saving" years I built up a healthy pot within a Stocks and Shares ISA rather than just going down the pension route. This is withdrawn tax free in the UK. I can in theory take up to my personal tax free allowance from the pension and top up the income from the ISA, also tax free. Tax of any significant amount will only come into play when I get my state pension which is some 12 or 13 years away.

 

I have heard of it referred to as the 25 rule. Work out what you need per year and multiply by 25. That is the pot of money you will need to generate your required monthly income. 

[JimTripper]

1 hour ago, noobexpat said:

 

I think you are overestimating ...or maybe i'm just a bit cheap. Possibly the latter!

 

I just don't see £800k as that much, at that age and having to commence drawing down. 

 

I think it's safe to say not many expats in pattaya have 800k pounds, at least not the ones I know.

[MangoKorat]

7 hours ago, proton said:

Boring, rather have a good dump

Hmmmm maybe you've been having sex with the wrong gender .

[scubascuba3]

9 hours ago, JimTripper said:

Disease. 2x a week and you're going to catch something in pattaya.

 

you're being too careful. that's roughly 1 million baht a year, or $2,500 usd a month every month until 85. not counting weird medical problems. no problems in general, at least not for awhile. could easily cut back if things got weird.

 

the problem is, if you have 35 million do you really want to live in a 30k place forever? your expectations go up when you have that amount of savings. you feel like you deserve better things.

You haven't quoted the correct post. For the 1m thing you need to account for inflation, medical costs and exchange rate movements

[jacko45k]

More is always better!

Who can predict whether inflation or an appreciating baht will take a serios chunk out of that. 

If big ticket items, like Premium flights home twice a year are avoided, I think 30 mil baht is good. 

BUT, heaven forbid, don't condemn him to regularly eating at Kiss!

[kinyara]

My idea of a comfortable single life here in today's terms at 60 is owning my own property - 5 million baht, taking future market/exchange fluctuations of the biggest regular cost out the equation, guaranteed inflation increasing after tax annual pension income of 600k baht + a savings/investment pot of 18 million baht equivalent generating a low risk 4% 700k baht annually. A decent health insurance policy should leave a disposable income after a few other fixed annual costs of circa 90k baht a month, I can live a heathy lifestyle that suits me on a 1/3 of that so plenty to look forward to.

 

With that set-up I'm not stressing about money, not interested in spending time and effort increasing it, but concentrating on maximising enjoyment out of what I have. Time and good health is the most precious commodity not the money.

[georgegeorgia]

Mid 50's 

Means he should budget to say 83

So 30 years 

 

If he intends to get a Government pension at 67 (UK) Australia

 

Average living 600,000 baht a year 

 

[Ralf001]

2 million per year would be sufficient I reckon.

[Ben Zioner]

16 hours ago, Denim said:

200 million should cover it assuming he lives to a ripe old age. That includes self insuring and any medical bills in later life.

I'd say that with this lifestyle he needs at least 200k a month, so with a 30 years life expectancy, and with some padding, 100 million looks about right. And don't forget he would have to prove that those 100 million were earned before Jan 1, 2024, otherwise up that number by 25% to 30%.