Is 1 million baht enough to retire in Thailand?

[BuddyPish]

If I was in such a predicament, I'd go home to the UK. 
At least I wouldn't have to pay for healthcare.
The cold might get me though

[Jonathan Swift]

Regard your million baht as a nest egg that you can build on for 14 years, not as a fixed amount that you'll have to slowly drain. Once you settle here you will know how much you will need on a yearly basis. based on your budget You should take part of it and invest it where you will get a return on it, and can easily liquidate it in an emergency. I keep my nest egg in the Vanguard High Yield Index mutual fund where it pays me a dividend, but even a money market fund would be better than letting it just sit doing nothing. It won't take more than 2 years or so to evaluate your trajectory and make the necessary plans and changes. You should have more confidence by then. 

[spidermike007]

No. Absolutely not. I would say a minimum budget for someone who's willing to live like a monk, live on a shoestring and never treat themselves to anything would be 25 or 30,000 per month, to live well 60 to 100,000 a month, so your budget wouldn't last me one year. But I know a lot of people who could live on that budget for three or four years, maybe. 

[Celsius]

I took 200 baht from ATM yesterday to buy some noodles so today's balance is 1,042,156.23.

 

I think i' will be fine especially if I put these big money into interest savings account at 1.5% which is additional 15,000 bahr per year. That's extra 41 baht spending money per day.

 

[madmitch]

2 minutes ago, Celsius said:

I took 200 baht from ATM yesterday to buy some noodles so today's balance is 1,042,156.23.

 

I think i' will be fine especially if I put these big money into interest savings account at 1.5% which is additional 15,000 bahr per year. That's extra 41 baht spending money per day.

 

mThe fact that you already have a Thai bank account and are here at the moment, you know the answer to your original question, Definitely a troll thread.

[transam]

8 minutes ago, Celsius said:

I took 200 baht from ATM yesterday to buy some noodles so today's balance is 1,042,156.23.

 

I think i' will be fine especially if I put these big money into interest savings account at 1.5% which is additional 15,000 bahr per year. That's extra 41 baht spending money per day.

 

Really..........

[khunPer]

On 12/6/2024 at 6:08 AM, Celsius said:

 

But Thais can do it

Minimum salary in Thailand is around 350 baht per day, raising soon to 400 baht per day. With typically two days off per month for low income workers, it's still more than 10,000 baht per month.

 

How would you plan stay in Thailand as retired, when a retired needs either 800k baht in bank deposit or 65k baht minimum each month transferred from abroad?

[digger70]

10 hours ago, Hummin said:

My parents in law life for less, unless they have some extraordinary coming up.

 No tax, no rent, 600,- baht a month water and electricity, gas 400. Food? But they have family, and can live a decent life because of them. 

Well now that's a different story, You could do same .

Bludging  of you Family and Friends (if you have any) and pay no rent  . 

[Ralf001]

A Mill is plenty.

get it done.

[Ralf001]

50 minutes ago, khunPer said:

Minimum salary in Thailand is around 350 baht per day, raising soon to 400 baht per day. 

 

When is min daily raising to 400 ?

[transam]

2 minutes ago, Ralf001 said:

When is min daily raising to 400 ?

You're not allowed to work.....................................🤣

[Ralf001]

1 minute ago, transam said:

You're not allowed to work.....................................🤣

my work permit trumps your bullsh1t post

[transam]

Just now, Ralf001 said:

my work permit trumps your bullsh1t post

Great, enjoy your 400 bht per day...................

[simon43]

Although this is a troll thread, I'm still confused why you aren't working at that 'young' age.

 

[Caldera]

On 12/6/2024 at 12:00 PM, Celsius said:

Times are tough and I am going through some financial difficulties. All I have left in my bank account is 1,042,356.23 baht. Will this be enough until i get my government pension in 14 years?

 

No, of course it won't be enough. The solution should be rather obvious: Work until you either get your government pension or have amassed enough savings.

[jaywalker2]

On 12/6/2024 at 12:00 PM, Celsius said:

Times are tough and I am going through some financial difficulties. All I have left in my bank account is 1,042,356.23 baht. Will this be enough until i get my government pension in 14 years?

Troll

[Chris Daley]

1m?  Thats about 2 whores and a pizza.

[persimmon]

It`s possible - live under a bridge and sit on the pavement / sidewalk with a begging bowl . Or busking in Pattaya ( until the police arrest you ).

 

[JoseThailand]

17 hours ago, Bohemianfish said:

Maybe Cambodia can be cheaper for you. 

 

Cambodia is more expensive that Thailand

[JoseThailand]

8 hours ago, spidermike007 said:

I would say a minimum budget for someone who's willing to live like a monk, live on a shoestring and never treat themselves to anything would be 25 or 30,000 per month

 

Even if you have 30k per month. A modest room or studio is 10k or less, food another 10k. Then you have 10k for 'treats', which is not bad.

[khunPer]

5 hours ago, Ralf001 said:

When is min daily raising to 400 ?

That's part of the Pheu Thai-governments election campaign promise, and they have mention that it comes, probably some time next year, 1st January 2025 has been mentioned.

Bangkok Post: 
B400 minimum wage ‘a New Year present’.

[rwill]

12 hours ago, Celsius said:

 

Just looked it up. That is a crazy yield. Did it just start trading in April? A bit scary, but.....

 

If they don't cut the dividend in 1 year you basically made all the money and then some.

 

Where do you trade this?

Pretty much any broker that handles USA stocks.

[Ralf001]

6 hours ago, khunPer said:

That's part of the Pheu Thai-governments election campaign promise, and they have mention that it comes, probably some time next year, 1st January 2025 has been mentioned.

Bangkok Post: 
B400 minimum wage ‘a New Year present’.

 

Thanks.

[G_Money]

16 hours ago, Celsius said:

I took 200 baht from ATM yesterday to buy some noodles so today's balance is 1,042,156.23.

 

I think i' will be fine especially if I put these big money into interest savings account at 1.5% which is additional 15,000 bahr per year. That's extra 41 baht spending money per day.

 

What a miserable life.

 
Better you than me.

[BritManToo]

8 hours ago, JoseThailand said:

 

Even if you have 30k per month. A modest room or studio is 10k or less, food another 10k. Then you have 10k for 'treats', which is not bad.

 

In Chiang Mai,

Thai rooms are 1,500-2,500bht a month.

Room with tv, internet and air-con 5,000bht a month.

2 bed house 5,000bht a month

[Celsius]

1 hour ago, BritManToo said:

 

In Chiang Mai,

Thai rooms are 1,500-2,500bht a month.

Room with tv, internet and air-con 5,000bht a month.

2 bed house 5,000bht a month

 

Cool. I'm coming to CM to hang out 🥰

[KhunLA]

1 hour ago, BritManToo said:

 

In Chiang Mai,

Thai rooms are 1,500-2,500bht a month.

Room with tv, internet and air-con 5,000bht a month.

2 bed house 5,000bht a month

฿1M  ÷ 14 yrs  ÷ 12 months = ฿5952 a month

Minus ฿5000 = ฿952 = ฿31 a day to live on 

 

With no visa.  Unless spending ฿10-฿20k a year for agent X 14 yrs, so now ฿140k-280k less to live on.  At only 10k for an agent, that's 322 days of living expense, so now he can eat 3 or 4 days a month 

 

1M for 14 years ... good comic relief. 

 

Many thought they could do that, hence the multiple members of the "Flying Club" 

[Celsius]

After reading this thread I became a little depressed. As the money may not be enough I decided to become an English teacher.

 

Any free TEFAL courses?

 

 

[simon43]

5 minutes ago, Celsius said:

After reading this thread I became a little depressed. As the money may not be enough I decided to become an English teacher.

 

Any free TEFAL courses?

 

 

Back under your bridge....

[madmitch]

55 minutes ago, Celsius said:

After reading this thread I became a little depressed. As the money may not be enough I decided to become an English teacher.

 

Any free TEFAL courses?

 

 

What, Thai cooking classes?