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

[newbee2022]

...how long is a string..?

..😳

[Thingamabob]

I don't know about a lump sum but in terms of income I would say around 200k baht per month. It all depends in how you want to live in terms of accomodation, food and drink, social life, travel etc.

[bkk6060]

With inflation 1 million USD should last aprrox 20 to 25 years.

[Freddy42OZ]

22 hours ago, advancebooking said:

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. 

 

What sort of life has he lived so far?  Was a rich when he was younger?

If he's single why would he need to pay 30k a month in rent?

So you think he needs to spend around a million baht a year to live in Pattaya for the next 35 years?!?!!   Hahahahahaha!!

 

[vukovar77]

I own condo 36 m2 near the beach.I live with Thai wife which cook food every day.We have motorcycle and bycicle .About 5-6 time per month and we eat in restaurants,mostly in Terminal 21.Monthly cost does not exceed 45000 BHT per month.Average 35-40.000 BHT.We have a pool,jim and we are close 400 m. to the wonderful beach in Wongamat.My monthly income-pension  is about 65000 BHT.You can rent nice studio in a good location for about 4000-6000 THB per month.

[Scouse123]

13 hours ago, JimTripper said:

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

 

 

Safe to say?

 

Many don't have 800K THB for their extension of stay.

 

Stupid question anyway from the OP, I have seen this asked here so often.

 

Also, another' asking for a friend' post.

 

It depends on lifestyle, does he drink and smoke, does he want nice cars, Health insurances, does he like trips back home, chances of getting stung in a relationship.

 

A ridiculous amount of variables to form a realistic opinion or give a figure.

 

And to give the impression somebody is going to bum along in life having sex twice a week, cooking their own breakfast in a condo, blah blah blah.

 

What a mundane existence. It smacks of being in God's waiting room. Next he'll be joining those having beer for breakfast.

 

And to cap another poster, 800K GBP is a tidy amount to have saved in their fifties in cash and anybody saying different, is talking out of their ASEAN NOW ass.

 

How many times do we hear and get questions from guys surviving on pensions from many countries and nationalities?

 

I'm 61 and have a number of UK properties and a substantial house here.

 

I will continue along the path of semi retirement in Thailand whilst buying and selling properties in the UK, until it's time for me to leave this Earth.

 

@advancebooking have you got 35 million stashed?.............

 

 

 

 

 

 

 

[john donson]

I assume this post is a big joke

 

so TVF is full of rich millionaires with nothing better to do that to be on here ?

 

I envy UK/USA bank deposit interest rates... 5% and more

 

my money is here in thailand, yeah... stupid

 

but I moved it because after 2008, EU banks gave 0.01% interest

 

and in that time, some thai banks gave up to 3% gross

 

I also missed the bitcoin speculation boat... 

 

currently in my home country, the max they offer is  2.8% gross, but moving money back home, is at an exchange loss of 1.5-2% of your money, at least...

 

weird santander is the best online bank giving 2.8% in Europe, but 5% in UK

 

guess I need to be registered in UK to be eligible... lol

 

 

Thai stocks also are not worth the money to invest in...  but sending money now for a US broker to play the s&p500 will be taxed 10-15% in USA plus 30-35% when you send over dividends

 

[noobexpat]

26 minutes ago, Scouse123 said:

And to cap another poster, 800K GBP is a tidy amount to have saved in their fifties in cash and anybody saying different, is talking out of their ASEAN NOW ass.

 

 

That was me.

A tidy amount compared to whom?

I compare against other degree educated professionals, like myself.

 

[Celsius]

I always wondered why rich and educated westerns decide to settle in Pattaya. 

 

Even Tim Sharky knew better and left due to pollution. His last Facebook posts were biatching and moaning about pm2.5

[Antiparovian]

22 hours ago, proton said:

 

Boring, rather have a good dump

Agree. Sex with a whore from a bar is boring. Probably even more so for the tart.

[JimTripper]

22 hours ago, proton said:

Boring, rather have a good dump

What's stopping you?

[HuaHinNew]

Up to 35% more than budgeted from Jan 1 2024..............

[Andycoops]

Hundreds of millions if you are going to live along time..

 

[JimTripper]

26 minutes ago, Celsius said:

I always wondered why rich and educated westerns decide to settle in Pattaya. 

Usually just because it's easy and relatively anonymous. You blend in with a bunch of tourists and most places have english menu's. If thai's cop an attitude or get weird at your local eatery, you can just go next door.

[dayo202]

I moved out here 6 years ago with equivalent of 15M baht at 51 year's of age.

My pension will kick in when I'm 67, the return on my 15M keep me going until my pension.

 

[Jingthing]

I came very early for a retired person with a quite modest nest egg but eventually receiving US social security was part of the plan. I think that's a key -- to eventually have some kind of pension coming later if retiring early. If not then you really do need a lot more money to start.

Over time as I've been quite frugal, so my net worth (investments) has grown quite a bit.

Now I'm in a position of thinking about ways to spend MORE money!

Harder than it sounds. 

[bbi1]

On 1/11/2024 at 3:34 PM, 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.

At least 350 million baht of the OP's friend shouldn't even consider coming to Pattaya

[kingstonkid]

23 hours ago, OneMoreFarang said:

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

Now that will change the whole equation.

 

 

How are you and the missus doing lol

[PingRoundTheWorld]

On 1/11/2024 at 10:31 AM, advancebooking said:

I told him about 35 million if he lives to 85 yrs old.

It sounds like you are assuming the money will be laying around doing nothing while he only depletes it. That's one way to do it, but not how most do. Even a conservative investment can easily get you 5-6% a year and probably more. Judging by the criteria you posted 175k/mo - even after tax - should be plenty to keep him afloat without ever touching the original 35mil, so age is irrelevant.

 

Realistically 35mil is on the high side, but the typical problem in Pattaya is that guys get a gf/wife and end up spending significantly more than they originally planned as those ladies have a talent for bleeding you dry. If he keeps single and sticks to ONLY ST he could do it every day and still be within his budget.

 

Another factor is alcohol and partying - it depends on your personal style but it could be anything from a minor expense to many thousands a day.

[Scouse123]

2 hours ago, noobexpat said:

 

That was me.

A tidy amount compared to whom?

I compare against other degree educated professionals, like myself.

 

 

 

Yeah, yeah,

 

It's an anonymous forum, you can be anything you want to be.

 

I'm a Nigerian Prince this week.

 

You are actually trying to say, with or without a bloody degree, (which is completely irrelevant), that 800K GBP cash savings in a bank, no house equity involved, plus he'll have other income, is a paltry sum?

 

Bloody nonsense!

[Keeps]

6 hours ago, advancebooking said:

do you hold any btc or ethereum?

No. Far too speculative for my taste. An investment like that would keep me awake at night.

 

I predominantly hold a diversified portfolio of funds and shares. I also keep a cash buffer of two/three years expenditure in case the markets takes a fall (like during Covid) and you don't want to be selling any holdings at this time. A cash buffer is also useful when buying opportunities arise (again, like during Covid).

 

Whilst saving I mainly invested in growth funds and shares. Now I am nearing the time when I need to generate an income, I realised some large profits from some of these investments and reinvested in income funds and shares. Some of the large UK financials are yielding 7-10% per annum. I keep growth holdings aswell to balance the portfolio.

 

I am by no means an expert in this field, far from it. I have however done my homework over the years and have come to a landing on what will hopefully work for me and provide a steady, growing income during my retirement years.

[thrilled]

A year for me in Thailand I spend an average a million baht annually. So 20 years would be 20 million. 30 years 30 million baht or close to a million dollars for 30 some years.

[Acharn]

On 1/11/2024 at 5:08 PM, Sato said:

No prostitution. Girl friends on a leasing bases.

Ladies of negotiable virtue.

[HappyExpat57]

On 1/11/2024 at 4:00 PM, dingdongrb said:

Tree-Fiddy

 

I ain't givin' you no tree fiddy you goddamn loch ness monster!

[khunPer]

On 1/11/2024 at 9:31 AM, advancebooking said:

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. 

That sounds fair enough, if he heads for the affordable P&P-ladies and don't let some move in...

[advancebooking]

2 hours ago, Keeps said:

No. Far too speculative for my taste. An investment like that would keep me awake at night.

 

I predominantly hold a diversified portfolio of funds and shares. I also keep a cash buffer of two/three years expenditure in case the markets takes a fall (like during Covid) and you don't want to be selling any holdings at this time. A cash buffer is also useful when buying opportunities arise (again, like during Covid).

 

Whilst saving I mainly invested in growth funds and shares. Now I am nearing the time when I need to generate an income, I realised some large profits from some of these investments and reinvested in income funds and shares. Some of the large UK financials are yielding 7-10% per annum. I keep growth holdings aswell to balance the portfolio.

 

I am by no means an expert in this field, far from it. I have however done my homework over the years and have come to a landing on what will hopefully work for me and provide a steady, growing income during my retirement years.

You sound clued up and knowledgeable but cannot believe someone with your skills hasn't considered putting some money into bitcoin. Since inception it has a compounding return of 140%. Just hold through the ups and downs and you have that return. 

 

All you have to do is to follow these simple steps:

1. buy a hardware wallet. https://trezor.io/

2. Register with a crypto exchange and pass KYC

3. Send fiat to your wallet there

4. Buy bitcoin and ethereum

5. Send your crypto to the trezor

6. Wait 5 yrs. Probably return 700%.. Better than 7%

 

To sell, do the reverse. 

[advancebooking]

3 hours ago, Jingthing said:

I came very early for a retired person with a quite modest nest egg but eventually receiving US social security was part of the plan. I think that's a key -- to eventually have some kind of pension coming later if retiring early. If not then you really do need a lot more money to start.

Over time as I've been quite frugal, so my net worth (investments) has grown quite a bit.

Now I'm in a position of thinking about ways to spend MORE money!

Harder than it sounds. 

Buy bitcoin and ethereum

[advancebooking]

3 hours ago, dayo202 said:

I moved out here 6 years ago with equivalent of 15M baht at 51 year's of age.

My pension will kick in when I'm 67, the return on my 15M keep me going until my pension.

 

what do you have the 15m invested in?

[advancebooking]

5 hours ago, john donson said:

I also missed the bitcoin speculation boat... 

You could have bought btc at 20k last year and doubled your money already. It will crash and always does. Buy in then chap

[Jingthing]

3 minutes ago, advancebooking said:

Buy bitcoin and ethereum

God no.