Life Expectancy, Baht And Inflation Rate For Retirement Planning

[dumspero]

Gregb- Are you trying to say that we've passed peak oil production? We haven't even made a serious effort to find much of the oil out there, let alone tap into it. And the whole peak production thing will be overrun and made irrelevant as fossils fade in importance.

I think you don't understand the world very well. Yes, it is possible that everything will grind to a halt. But it is far more likely that the world economy will continue to grow because most of the billions on the planet have needs and wants that aren't being met, and there are people, resources and rapidly improving tehnologies that will answer those needs and wants, thereby making the world economy grow. Sure, it will continue to grow in a messy, uneven way, and total catastrophe is always a possibility, but ongoing growth is the most likely scenario.

Your line about all you can do is give advice, and it's up to us to listen or not--isn't that a little arrogant? In any event, I choose not to listen to storing gold at the bank as a retirement plan.

[lilBob]

Gregb- Are you trying to say that we've passed peak oil production? We haven't even made a serious effort to find much of the oil out there, let alone tap into it. And the whole peak production thing will be overrun and made irrelevant as fossils fade in importance.

I think you don't understand the world very well. Yes, it is possible that everything will grind to a halt. But it is far more likely that the world economy will continue to grow because most of the billions on the planet have needs and wants that aren't being met, and there are people, resources and rapidly improving tehnologies that will answer those needs and wants, thereby making the world economy grow. Sure, it will continue to grow in a messy, uneven way, and total catastrophe is always a possibility, but ongoing growth is the most likely scenario.

Your line about all you can do is give advice, and it's up to us to listen or not--isn't that a little arrogant? In any event, I choose not to listen to storing gold at the bank as a retirement plan.

To the above poster this is not having a shot at you, I'd just like to highlight that it was me who put up the figure quoted by many of 80,000bht per mth and my statement to increase the equity.

the interest rates quoted by some don't apply toothers (me) My pension fund is currently paying 14-15%.

So the sum of millions are a dream or wish and not necessary.

The sum of 500,000 is achieveable to ensure my comfortable retirement.

Hey I worked hard for it and have saved both for retirement and my trips to the LOS (2-3 times a year). I intend to live on 5%of my pension fund and re-invest the rest thereby getting the 80,000bht previously quoted.

I sometimes worked 2 jobs and don't hang oput in pubs eat/cook at home to save money and my pension fund payout will be more then the half mill quoted/assumed by some.

Some may live on less but I intend to live in Pattaya so my costs will be higher.

a brief breakdown of my expected expenses are as follows

Rent 10,000bht

food 10,000bht

Party time60,000bht

I have visited the LOS approx 25-30 times in the last 18 years and have seen /experienced the following variations in exchange rates.Which everyone should considered when planning retirement

First Trip89 19.2 Bht to the Aus dollar

Crash of 97 36 Bht to the Aus dollar

Date unkown 16 bht to the Aus dollar

My pension fund in the past has paid zero like 5 years ago but the Eddie the experts say an average is 9% which will enable me to increase the equity. by the way it's a little bit more than 500,000.Sorry I just repeated myself.

The thing I fear most is trying to survive in poverty.For examplle I have had to inspect retirement homes for my employment and have seen first hand elderly persons living 5 to a room with the smell of stale urine.

That's why I have worked for a comfotable retirement.

I would also like to live a dignified retirement and don't want to have to beg for money from strangers outside Mikes Dept. store or become a ballon chaser.

I think some people have higher expectations than reality and I hope it works for them. Good Luck.

If I live that long in20 years time those of us who have planned well will be still having a great time in the LOS and there will be those who won't.

I hope everyones plans work out for them and the monies I leave when I die will go to someone I care about ie a woman and child or family members in Aus.

To those posters who quoted why note live in NY london or Paris I can't afford those places,and I assume the ladies are not that friendly and/or downright expensive.

Good Luck to all lilBob

ps May the devil hear of your death half an hour after you have arrived in heaven.

[Naam]

You should invest all of your money in non discretionary commodities, gold is particularly easy and safe. Don't worry too much about ROI. If commodities drop, so will the inflation rate, so you are well hedged.

My best advice.

how would retirees have fared if they took your "best advice" buying gold 28 years ago? are you telling us that during that period inflation did not exist but deflation prevailed and prices dropped in tandem with gold? how did those survive who bought gold in 1980 @>$800 an ounce and saw the price down to $250 an ounce in 2000?

[egg6447]

this is exactly the same question young married couples have, ie, can i afford children, the answer is the same to both scenareos, once committed you manage. you never have enough, yet you always seem to have enough. cant be easier than that now can it. and bendix if your ma,pa had the same reservations you have you wouldnt be here. haveing unplanned babies in my case, and unplanned retirement in my case i can vouch for it. mind you i,m a lucky bas,,,,

[Felt 35]

I thought most Westerners settling in Thailand would receive both pension and a health insurance based on the cost of living in their respective countries! Which of course also would have to increase every year in line with increasing costs.

If I should base my retirement on savings and as an example expects to live to I’m 85 years old I would need at least US 2million only to cover basic pension.

Some months in a hospital for example for a heart disease can set anyone back to scratch.

A relative had a Bypass surgery (in the West) some 10 years back and with the hospital stay, surgery and four weeks in a rehabilitation centre afterwards it said at that time it would have cost nearly a half million US if he should have paid himself.

Personally and if living in Thailand compared to the West, I would be more worried about life expectancy than funds.