Are you spending more or less than you had planned before coming here?

[sidjameson]

The old adage of financial planning of making a retirement budget for Thailand then doubling it didn't apply to me. 

I'm spending less than I thought. 

In planning I had populated the future with a larger appetite than I had. In fact the opposite was true.

I needed less beer than I had planned, less Aircon, less restaurants, less dating etc

Budgeted 70k a month life but only spend 50k.

How about others?

[Mike Lister]

We do similar, I spend around 50/60k a month but bank much more. 

[itsari]

I manage on 15000 baht per month and have pension income of 50,000 per month.

My home expenses are paid by rental income and have no rent to pay. 

It has taken 10 years to creat the rental income and much work . The bulk of the rental income has been put back into more rental accomodation.

I have good health at the moment and manage to squeeze a number of beers each day and that is my largest single expense. 

My partner has helped to achive our position as well and works every day and has a small business .

I had little idea what i would need to live here to be quite honest. I have never been so well of as i am now at 71 years of age.

 

 

 

 

[susanlea]

8 minutes ago, itsari said:

I manage on 15000 baht per month and have pension income of 50,000 per month.

My home expenses are paid by rental income and have no rent to pay. 

It has taken 10 years to creat the rental income and much work . The bulk of the rental income has been put back into more rental accomodation.

I have good health at the moment and manage to squeeze a number of beers each day and that is my largest single expense. 

My partner has helped to achive our position as well and works every day and has a small business .

I had little idea what i would need to live here to be quite honest. I have never been so well of as i am now at 71 years of age.

 

 

 

 

Thai condos?

[itsari]

1 hour ago, susanlea said:

Thai condos?

We have listings on short term rentals and all are on the one property.

2x 2bedroom and 3x 1 bedroom apartments.

[itsari]

1 hour ago, itsari said:

I manage on 15000 baht per month and have pension income of 50,000 per month.

My home expenses are paid by rental income and have no rent to pay. 

It has taken 10 years to creat the rental income and much work . The bulk of the rental income has been put back into more rental accomodation.

I have good health at the moment and manage to squeeze a number of beers each day and that is my largest single expense. 

My partner has helped to achive our position as well and works every day and has a small business .

I had little idea what i would need to live here to be quite honest. I have never been so well of as i am now at 71 years of age.

 

 

I wrote this to emphasis that you don't need 100,000 baht a month to have a good life in Thailand as many like to boast about on ASEAN Now.

 

 

 

[susanlea]

5 minutes ago, itsari said:

 

I don't believe most of the stories I read on here. A single person could totally live on 25,000 imo if they wanted.

[itsari]

25 minutes ago, susanlea said:

I don't believe most of the stories I read on here. A single person could totally live on 25,000 imo if they wanted.

Yes I agree with your statement.

Even if it were true they want to flaunt there wealth in some strange way.

Thank you for your reply

 

 

[susanlea]

2 minutes ago, itsari said:

Yes I agree with your statement.

Even if it were true they want to flaunt there wealth in some strange way.

Thank you for your reply

 

 

Probably drinkers

[novacova]

3 hours ago, sidjameson said:

How about others?

It varies widely and I don’t keep track and I can care less about how much I spend and care even lesser of how much others have or spend. Who frik’n cares…good grief!

[itsari]

3 minutes ago, susanlea said:

Probably drinkers

Or would be if they could bee's 

[BKKKevin]

Given a Durian stall has opened on about every corner I'm shelling out more... 

[itsari]

1 minute ago, BKKKevin said:

Given a Durian stall has opened on about every corner I'm shelling out more... 

Long as you can put up with the smell and stomach discomfort,good for you

[georgegeorgia]

2 hours ago, itsari said:

I manage on 15000 baht per month and have pension income of 50,000 per month.

My home expenses are paid by rental income and have no rent to pay. 

It has taken 10 years to creat the rental income and much work . The bulk of the rental income has been put back into more rental accomodation.

I have good health at the moment and manage to squeeze a number of beers each day and that is my largest single expense. 

My partner has helped to achive our position as well and works every day and has a small business .

I had little idea what i would need to live here to be quite honest. I have never been so well of as i am now at 71 years of age.

 

 

 

 

Well probably another 10 years left or less....so you enjoy your money and stop being stingy ,you can't take it with you 

[georgegeorgia]

4 minutes ago, novacova said:

It varies widely and I don’t keep track and I can care less about how much I spend and care even lesser of how others have or spend. Who frik’n cares…good grief!

Well at your age of 80 ,too right !

Everyday is a blessing my friend .

You enjoy it , could be your last 

[itsari]

1 minute ago, georgegeorgia said:

Well probably another 10 years left or less....so you enjoy your money and stop being stingy ,you can't take it with you 

I do think that way as you say, yet I want the partner to have a chance of income without working in her old age.

In saying that there is an element of work to keep the flow of money from the property if I am out of the picture as I am constantly maintaining the buildings .

Thank you for your reply

[susanlea]

7 minutes ago, georgegeorgia said:

Well at your age of 80 ,too right !

Everyday is a blessing my friend .

You enjoy it , could be your last 

When you going back to Thailand?

[georgegeorgia]

Just now, susanlea said:

When you going back to Thailand?

Maybe this year for a short trip BUT not to Pattaya to be detained in a shoe box bored out of my mind for 6 weeks!

Never again !!!!!!!

[Hummin]

I was ready to spend 8 million baht at a condo with sea view, and those who I liked was around 12 and up, so I postponed it for better exchange rate. Since then our valuta have plummeted several times. 

 

So I have spent alot less than I planned to. 

[Will B Good]

Much less.

 

Budgeted for 80k/month, spending less than 40k/month....actually saving money in retirement.

[itsari]

5 minutes ago, Hummin said:

I was ready to spend 8 million baht at a condo with sea view, and those who I liked was around 12 and up, so I postponed it for better exchange rate. Since then our valuta have plummeted several times. 

 

So I have spent alot less than I planned to. 

Norwegian currency was up in 5 to 6 baht 12 years ago but now around 3.4 and therefore I can understand your desire to spend less

[OneMoreFarang]

It is possible to live cheap in Thailand. But it is also possible to get great food, great coffee and lots of other expensive things. All that adds together.

I could live spending less, but I love the good life... 

[Hummin]

27 minutes ago, itsari said:

Norwegian currency was up in 5 to 6 baht 12 years ago but now around 3.4 and therefore I can understand your desire to spend less

 

For those who invested on 1nok - 6,3 baht and sold at 2,83, made quite good money. I know one who invested above 6, and  managed to get out at exactly the lowest point.

[john donson]

people with property back home, are you not tax seriously on the rental income ?

 

people with property here, do you pay the 12.5% tax or 'nothing to declare'

[Utalk2mutt]

16 hours ago, sidjameson said:

The old adage of financial planning of making a retirement budget for Thailand then doubling it didn't apply to me. 

I'm spending less than I thought. 

In planning I had populated the future with a larger appetite than I had. In fact the opposite was true.

I needed less beer than I had planned, less Aircon, less restaurants, less dating etc

Budgeted 70k a month life but only spend 50k.

How about others?

I’m similar to you I too budgeted on around 70k a month and I actually spend approx 46k. What I now do is adjust the amount of my military pension I send over here per month to about 50k and leave the rest in the UK building up for my uk return shopping and family visits. Amount im saving is approx £500 pound a month in total.

[Dionigi]

Planning! You can plan, damn why didn't I think of that

[Celsius]

All these numbers are useless once you get hit with a million baht hospital bill

[JimTripper]

13 hours ago, OneMoreFarang said:

It is possible to live cheap in Thailand. But it is also possible to get great food, great coffee and lots of other expensive things. All that adds together.

I could live spending less, but I love the good life... 

Wearing flip flops saves money on shoes.

[Wrwest]

17 hours ago, sidjameson said:

The old adage of financial planning of making a retirement budget for Thailand then doubling it didn't apply to me. 

I'm spending less than I thought. 

In planning I had populated the future with a larger appetite than I had. In fact the opposite was true.

I needed less beer than I had planned, less Aircon, less restaurants, less dating etc

Budgeted 70k a month life but only spend 50k.

How about others?

My approach, facing retirement was to figure out what my sustainable monthly retirement budget would be. I figured $2400 USD (induced US SS) would not be comfortable in my own country of the USA. Thirteen years later here in Chiang Mai, Thailand the budget continues to hold. So, the USA Social Security ($1570 this year), then add funds from my retirement savings to equal the $2400. I transfer $2200 a month to Thailand, $200 stays in US bank to offset any US credit card use. Funds not used for monthly bills (family of 3), are deposited in a separate account for use in travel or other mostly discretionary costs. Ha! We seem to have no trouble using 65K baht a month.

[KhunLA]

Actually didn't have a plan, before retiring to TH.   As it was a spur of the moment thought, and TBH, didn't do much research at all, if any.   Figured I'd just wing it, knowing I could simply leave when ever I wanted.

 

Then I started spending a bit more than I thought I would after arriving.   Now 23 years later, I actually spend less per month, than when I first arrived 

 

Yes, you can live inexpensively here, though depends on a few factors.   Having a honest, savvy partner, or single and renting 'ALL' your needs.   Owning home & car takes an investment, but avoids monthly bills.

 

Not needing a car, cuts your monthly bill considerably.  A scooter or public trans, if available is inexpensive.

 

One's health is a whole another subject, along with home country's cost & accessibility.  I'm a Yank, so basically most places would be better for healthcare, financial wise.

 

When I first got here, monthly expenditures were about ฿15-20k.   Then up to ฿50k.  Then ฿65-100k, back to ฿30k.  Now ฿10-15k, usually on the lower end, unless O&A.

 

Rarely rented housing, and have owned home, MB, car most of the time here, so no monthly loan or rental payments.  Only 6 yrs out of 23 have we rented housing.  And not expensive, ฿2500 & ฿6000, both for about 3 yrs each.

 

If not all 'bought in', I calculated before, renting & payments, I'd need a monthly budget of about ฿70k.  Not exactly inexpensive, but much cheaper than USA.

 

You can exist cheaply here, but takes a bit more, whether investment to own, or renting, to actually enjoy living here.  Options abound.