How much Superannuation is enough

[georgegeorgia]

Quick question in your opinion 

How much Superannuation is needed by an Australian retiring at 60yo to say Thailand 

 

Remember he needs to last the 7 years until pension age 

 

However there is a twist .yes 

He will need to last to 65 plus 2 years in Australia 

500k ? More ?

Less ? 

 

You see $500,000 Australian dollars may seem a lot at 60yo moving to Thailand.

But....unlike the British we  cannot remain to get the old age pension 

 

I'm aiming for 800k 

 

 

[Nemises]

The 2 years in Australia could be very expensive indeed. Depends where he intends to stay in Aus and if he can get the dole or other benefits whilst there. Need more info. 

[Njoku]

$114,000 a year to live in Thailand? I could live in Monaco on that and have change, on your calculations you will be broke 3 months after you start receiving the pension.

[gearbox]

6 hours ago, georgegeorgia said:

Quick question in your opinion 

How much Superannuation is needed by an Australian retiring at 60yo to say Thailand 

 

Remember he needs to last the 7 years until pension age 

 

However there is a twist .yes 

He will need to last to 65 plus 2 years in Australia 

500k ? More ?

Less ? 

 

You see $500,000 Australian dollars may seem a lot at 60yo moving to Thailand.

But....unlike the British we  cannot remain to get the old age pension 

 

I'm aiming for 800k 

 

 

Any amount between $100k and $3m depending how you want to live.

[SAFETY FIRST]

6 hours ago, georgegeorgia said:

Quick question in your opinion 

 

How much Superannuation is needed

It depends on the company he wants. 

 

A beautiful Thai girl ain't cheap these days. 

 

[KhunHeineken]

On 9/24/2024 at 11:45 AM, SAFETY FIRST said:

It depends on the company he wants. 

 

A beautiful Thai girl ain't cheap these days. 

 

I agree.

 

Start buying land in Issan, a house, a farm, a shop, a bar etc etc, then all bets are off. 

 

Rent, and do not buy, including "company" and one could have a long and comfortable life, retiring early, Thailand. 

 

It's nothing new, and well documented.  Keep it "real" here and enjoy.  Start shifting liquidating assets in Australia and shifting cash here, based on emotion, and you roll the dice. 

[still kicking]

On 9/24/2024 at 4:56 PM, Njoku said:

$114,000 a year to live in Thailand? I could live in Monaco on that and have change, on your calculations you will be broke 3 months after you start receiving the pension.

Plus you don't pay tax in Monaco 

A third of Monaco residents are millionaires  

[still kicking]

On 9/24/2024 at 1:32 PM, georgegeorgia said:

Quick question in your opinion 

How much Superannuation is needed by an Australian retiring at 60yo to say Thailand 

 

Remember he needs to last the 7 years until pension age 

 

However there is a twist .yes 

He will need to last to 65 plus 2 years in Australia 

500k ? More ?

Less ? 

 

You see $500,000 Australian dollars may seem a lot at 60yo moving to Thailand.

But....unlike the British we  cannot remain to get the old age pension 

 

I'm aiming for 800k 

 

 

Keep aiming, you never make it to that amount mopping floors .

[georgegeorgia]

5 hours ago, still kicking said:

Keep aiming, you never make it to that amount mopping floors .

Well we can't all be like you...paying low rent in Social housing and getting the old age pension!

[KhunHeineken]

On 9/30/2024 at 12:46 AM, georgegeorgia said:

Well we can't all be like you...paying low rent in Social housing and getting the old age pension!

You forgot to mention, he is living in the middle of nowhere, with his missus sending all her earnings back to Thailand. 

 

What a great way to see out your twilight years, before you die.