Expat Net Worth

[AFKAFSinLOS]

The meek shall inherit the earth.. But what will be left of it after the bold have had thier way !!

The meek shall inherit the earth... if that's OK with you

[Naam]

I just aint buying that at all..30 % of TV forum posters have over 1 million USD..ha ha..now you can really see the advantages of anonymous forums..ha ha

right you are! most posters on TV are all paupers... like you and me

[AFKAFSinLOS]

by the way, your french is not too bad. just make sure to use plural "riches" in context with "nouveaux"

and beware the young ladies looking to become "nouvelles riches" at your expense

[teej]

Ouch! I'll excuse (once only) your vulgarity in flaunting your riches on a (Thailand ) forum for God's sake, but if you're for real why not join the Cannonball 8000 rally I spoke of? (link is embedded in earlier post). I see some of your other posts are about cars (although I can't be bothered to read in detail): grab yourself some flash metal and join in the fun. There you can pose to your heart's content, in real life, and no one will even notice! Like I say, it will be fun.

I wasn't flaunting, just repsonding to one particular member (but I see you edited your post for an "excellent verbal joust.")

Can I enter my Triton as 'flash metal?"

I'm not sure how fun the rally could be going from KL to Phuket, you don't get the same feel as the Euro Version, not by far. But that rickshaw thing, I'd be in for something like that. Or something like an "Across Asia" rally. I'd love to drive from Bangkok to Stockholm.

But alas, we're off topic now. Sorry Mods.

Back on topic. I don't think that other poster was justified in attacking Mobi. From what I've read, Mobi is a helpful guy. So is Naam. Oh wait, that's not on topic either.

Back on topic Version 2.0. oh forget it, Bendix what a retarted thread

[LaoPo]

I just aint buying that at all..30 % of TV forum posters have over 1 million USD..ha ha..now you can really see the advantages of anonymous forums..ha ha

1. you read wrong....it's 30% of the 450 VOTERS, not 30% of the (more than) 50,000 TV-Forum posters/members.

2. 70% of the voters don't have a net worth of $ 1 Million. Maybe you're forgetting that there are modest voters too...not wishing to show off...

3. I didn't vote

LaoPo

[Naam]

by the way, your french is not too bad. just make sure to use plural "riches" in context with "nouveaux"

and beware the young ladies looking to become "nouvelles riches" at your expense

a good one!

[Mobi]

Thank you Nam, and many others on this thread who have defended the good name of Mobi

While I don't deny talking about my house, car, electricity bills etc in the past, I can assure you that it was never my intention to 'flaunt' my assumed? wealth, but simply to enter into intelligent discussion. If this was a motor forum and we were discussing the performances of car and I had a Mercedes (which I don't ), and started discussing it's performance, would I be "flaunting" it. In some people's eyes, most probably it would seem.

As for the Mobi mansion, I first coined this epithet some 2 years ago, and has always been used pretty much in jest. My house is rather large - larger than I ever intended when I started building, but somehow it got a bit out of hand , so it's not an inappropriate title, but was never intended to be taken too seriously. In the same way, I sometimes used to call my Fortuner my "Mobi mobile".

If I have offended some by all this then I apologise, as it was never my intention.

Now I will set the cat amongst the pigeons.

I agree with many who contend that the cost of living in Thailand has increased sharply over the past year or so, and in many respects, but by no means all, the cost of things are now comparable to our home countries. Somewhat perversely, I have started to convert Baht prices back to pounds as a reality check to see if the price I am being charged for something is more or less than it would cost back home. I never used to do this, as previously, just about everything, apart from certain imported luxury items, would always be much cheaper.

All this leave me to contend that, depending on your age and desired lifestyle, a retiree in Thailand would probably need net worth, ( and by that I mean income producing assets - not a house that can't be sold), of something approaching 2 million dollars, or a million pounds, clear a free, to be sure of living happily and comfortably into old age.

I really don't believe a million dollars is enough to protect you from all that is likely to happen over the next 20 years or so.

What say you?

[tijnebijn]

What I say ? Total bullocks it is .

[Mobi]

What I say ? Total bullocks it is .

Let's see if you still say that in 20 years time.

Most of you don't have the first notion of what your precious Euros/pounds dollars are going to be worth a few years down the line, when you are too old and feeble to do much about it

[LivinLOS]

If this was a motor forum and we were discussing the performances of car and I had a Mercedes (which I don't ), and started discussing it's performance, would I be "flaunting" it. In some people's eyes, most probably it would seem.

Depends on it you changed your handle to corkscrew2

!!

[geriatrickid]

All this leave me to contend that, depending on your age and desired lifestyle, a retiree in Thailand would probably need net worth, ( and by that I mean income producing assets - not a house that can't be sold), of something approaching 2 million dollars, or a million pounds, clear a free, to be sure of living happily and comfortably into old age.

I really don't believe a million dollars is enough to protect you from all that is likely to happen over the next 20 years or so.

What say you?

You make sense. Unfortunately, it won't register with many and they'll be caught and then start looking to blame someone, anyone, but themselves. We are masters of our own fate and must act accordingly. Reminds me of the old faerie tale about the grasshopper and the ant. Maybe TV can get the Disney animation and screen it next event.

For what it's worth, people like you keep me from making bad investment decisions here. (Just don't send me the invoice for the counsel.)

[LindsayBKK]

A poll like this is a good target for Immigration to see if they can increase visa fee's. Thanks alot. no vote for me. Delete poll now.

[siamamerican]

What I say ? Total bullocks it is .

Let's see if you still say that in 20 years time.

Most of you don't have the first notion of what your precious Euros/pounds dollars are going to be worth a few years down the line, when you are too old and feeble to do much about it

I enjoyed your previous post. You are far from pretentious and don't condescend to those of us that have less material wealth. I disagree with the 1 mil requirement, but from your perspective, it makes sense. I've lived a different lifestyle; making a lot of money in spurts, and then spending it traveling. In the end, I've managed to accumulate a decent nest egg. I've always understood that nothing comes free and I was sacrificing retiring with millions for living rationally in the moment.

I would have a hard time retiring on 17k bt, but could could easily do it on triple that amount and be happy. One caveat, I would want to have at least half a million dollars nest egg, which would allow me not to worry too much about the future. Some, like yourself, have expensive tastes and need much more. You've sacrificed and deserve the luxuries. I haven't, but what a life it has been.

[AFKAFSinLOS]

All this leave me to contend that, depending on your age and desired lifestyle, a retiree in Thailand would probably need net worth, ( and by that I mean income producing assets - not a house that can't be sold), of something approaching 2 million dollars, or a million pounds, clear a free, to be sure of living happily and comfortably into old age.

I really don't believe a million dollars is enough to protect you from all that is likely to happen over the next 20 years or so.

What say you?

You make sense. Unfortunately, it won't register with many and they'll be caught and then start looking to blame someone, anyone, but themselves. We are masters of our own fate and must act accordingly. Reminds me of the old faerie tale about the grasshopper and the ant. Maybe TV can get the Disney animation and screen it next event.

For what it's worth, people like you keep me from making bad investment decisions here. (Just don't send me the invoice for the counsel.)

Yes both you old guys make sense. . Wise posts in my opinion.

USD2mio/GBP1mio is more in line with what I currently feel I need, to feel comfortable, and to live out my days, if not working, and no access to other income outside this capital. This number will no doubt change over time.

Sure I could manage on USD1mio/GBP500k, and probably quite a bit less. The questions in my mind would remain though: for how long? and what about unforeseen events?I wouldn't feel comfortable enough. I would make do on less of course, but the key is being happy and with peace of mind. That's a personal call. For me, I want a cushion for the bad times, given hopefully the many years ahead.

Similar to you both highlighted, I remember when I was a kid and we used to say, "imagine being a millionaire. You could easily just live off the interest". You could still say that, but these days it doesn't seem as easy. Those of us that project forward, as you say, know that it will be more difficult still in the future.

I appreciate for some financial peace of mind comes easier and on lower amounts (and for some higher). I'd rather be over-cautious with a big fat cushion though, than end up sleeping on the floor through miscalculations. That's my nature. Some would need more, and some less. For some sleeping on the floor rough would be no problem. Each to their own.

And yes, I appreciate the different perspectives people have either way. Always useful to listen whether I agree or not...

Edited April 17, 2008 by AFKAFSinLOS

[Mobi]

Another very important point - for me anyway.

I have so many chronic medical conditions, such as dabetes and heart disease, that medical insurance is almost worthless. (it won't cover pre-existing conditions)

If I become very sick - I recently had a cancer scare which mercifully turned out to be a false alarm. Repatriation is becoming less and less likely due to the UK refusing to cover expats, and also it may not be physically possible to make the journey.

The cost of hospitalisation and intensive treatment/ surgery at any decent private hospital in Thailand has gone up in leaps and bound in recent years, and you are really talking in terms of millions of Baht for a major operation or long term treatment for cancer etc.

I have read of many people on this forum who have been distraught and in severe financial straights due to the cost of unplanned medical emergencies. Some have simply had to forego the treatment, and others have been forced to return to their home countries and try pot luck.

When I had my recent cancer scare, I realised that if I did have tumours, then it was going to cost me lot - but it wouldn't break the bank, and really wouldn't effect my lifestyle. I might postpone buying a new car until I was back on my feet and the hospital bills were all behind me, but this is of many reasons why I believe you need a considerable financial 'buffer' to give you that 'sleep easy' in LOS.

You just don't know what the future may bring, and there is no safety net or social services to protect you.

[tijnebijn]

What I say ? Total bullocks it is .

Let's see if you still say that in 20 years time.

Most of you don't have the first notion of what your precious Euros/pounds dollars are going to be worth a few years down the line, when you are too old and feeble to do much about it

In 20 years time I'll be almost 52 years old . Still not feeble I guess .

I must say and do think that everything you wrote is very interesting and knowledgeable .

And its not bullocks what you write down at all( I'm teasing ) , but its not in reach for people like me .

If I got to think about everything what might happen , sure I would not have a life , and would prefer

to live day by day or year by year for that matter , and what I can save I save .

I do think your lifestyle is much above average if you come to a number like that .

Of course if it is in ones reach I would also take it , but that's not in my league , I'm happy

to live how I live and don't think this lifestyle will ever change , cause its not that much anyway .

When the children are grown up , and they will be 23 and 33 when I'm 50 , I'm even less in need for cash .

For me an income between 30 -50k baht the month and 5 mil in the bank will do for my older age .

Perhaps our different ways of thinking comes form different kinds of needs , and maybe even sometimes

it could be better not to think and plan too much , and perhaps live your life and when its over its over , there is

nothing what you or I can take with us when we pass over . But like I said when someone can save such an amount

it does make it more comfortable no doubt . Just not choose to go that way and will see what happens and when my time comes it comes and will be .

Edited April 17, 2008 by tijnebijn

[Naam]

I really don't believe a million dollars is enough to protect you from all that is likely to happen over the next 20 years or so.

What say you?

a tricky question Mobi because those with less (or much less) than a million dollars have to manage somehow... come rain or sunshine. the big unknown factor is (as you pointed out) medical. in this respect i can only advise younger TV-members to get into a health insurance scheme AS SOON AS POSSIBLE because every year you hesitate the premiums go up. i speak from my narrow minded view and do not possess much information what kind health insurance is available locally for expats. in my (our case) we have an AAA rated german/swiss health insurance for which we pay "peanuts" (something like 4,800 €URos per annum) because i am a member (we call it "member" in Germany) since 1971 and my wife since 1979. no limitations, no restrictions, any hospital or any fancy medical treatment worldwide is paid for and no questions asked. but even that "cheap" insurance premium (~20,000 Baht per month) might be out of the financial reach of many

[Naam]

What I say ? Total bullocks it is .

Let's see if you still say that in 20 years time.

Most of you don't have the first notion of what your precious Euros/pounds dollars are going to be worth a few years down the line, when you are too old and feeble to do much about it

In 20 years time I'll be almost 52 years old . Still not feeble I guess .

Tijnebijn, once you cross 50... and you wake up in the morning... and everything feels OK... nothing hurts... THEN YOU ARE DEAD!

[tijnebijn]

Thanks Naam , good to know , I'll remember it , if I ever get that far ....

[Mobi]

I really don't believe a million dollars is enough to protect you from all that is likely to happen over the next 20 years or so.

What say you?

a tricky question Mobi because those with less (or much less) than a million dollars have to manage somehow... come rain or sunshine. the big unknown factor is (as you pointed out) medical. in this respect i can only advise younger TV-members to get into a health insurance scheme AS SOON AS POSSIBLE because every year you hesitate the premiums go up. i speak from my narrow minded view and do not possess much information what kind health insurance is available locally for expats. in my (our case) we have an AAA rated german/swiss health insurance for which we pay "peanuts" (something like 4,800 €URos per annum) because i am a member (we call it "member" in Germany) since 1971 and my wife since 1979. no limitations, no restrictions, any hospital or any fancy medical treatment worldwide is paid for and no questions asked. but even that "cheap" insurance premium (~20,000 Baht per month) might be out of the financial reach of many

Of course Nam, I do understand that for many, 1 million dollars, let alone 2 million is an unachievable dream. But I worry that many of these folk, like tijnebijn ,(and thank you, tijnebijn, for your kind words), will one day find themselves in financial straights if they elect to live the rest of their lives in a country like Thailand.

Of course people can live a lot cheaper than you or I do, and I accept that my lifestyle is on the extravagant side. However, I think there is a "Walter Mitty " syndrome amongst many of the farangs living here on relatively low incomes, and they seem to adopt the philosophy of living for today and not worrying about tomorrow.

Much as they would disagree, they would probably be much better off back in their home countries where the State provides a safety net and appropriate social services, particularly when they become old and feeble and have limited incomes.

On the subject of medical insurance, I was quoted around 100,000 Baht annual premium for me, and even my wife and step son would have to pay 30K plus. But as I have so many pre existing conditions I am not sure it is worth it, but I'm still considering it.

[Edonista]

So ,according to the poll,30% of the respondents are millionaires in $US terms,, what would be the % of millionaires in the expat community as a whole I wonder.

Not that I would for one second think that the posters here would be given to stretching the truth,but 30% expat millionaires residing in a developing nation that is not even a"tax haven".

You are assuming our money resides in the same country we are, while there's absolutely no need for that

[teej]

In 20 years time I'll be almost 52 years old...

For me an income between 30 -50k baht the month and 5 mil in the bank will do for my older age .

Inflation anyone? It can be a killer.... I wouldn't count on 30-50k THB to get you very far in 20years + (far far to many people ignore Inflation in retirement calculations)

But again, it's all relative to individual needs, which is why a thread like this is going to be all over the place with some living well (subjectively) off of nothing and others living well according to a different standard.

Another issue: Leaving a Legacy. I would like to leave my children (to be) all that I can to give them a head start in life. Do with it what they may, grow it or squander (or leave that for the 3rd generation), I'd still like to pass some material wealth on to help them through potentially hard times. And then there is the issue of their Education.....

Long Term Health Care is a big issue, as Mobi and Naam have mentioned. It's expensive. Very expensive.

Mobi: You don't have Health Insurance?!

[jasreeve17]

I don't believe the poll results. Indeed they seem to reflect the propensity for exageration rather than real wealth.

Of course my jealousy might be stimulating these thoughts....

[Jingthing]

Of course, the poll only reflects the small subset of board members who bothered to vote on it. So it means very little. But I believe the people who voted were mostly being honest; why not?

[Naam]

On the subject of medical insurance, I was quoted around 100,000 Baht annual premium for me, and even my wife and step son would have to pay 30K plus.

that' not expensive Mobi (considering that you are an old fart like me ), but it all depends what is offered "in case".

[Naam]

Another issue: Leaving a Legacy. I would like to leave my children (to be) all that I can to give them a head start in life.

others would appreciate to be as lucky as you. our only son and heir died 2½ years ago.

[Mobi]

On the subject of medical insurance, I was quoted around 100,000 Baht annual premium for me, and even my wife and step son would have to pay 30K plus.

that' not expensive Mobi (considering that you are an old fart like me ), but it all depends what is offered "in case".

I agree it would be worth it if it gave me decent cover - but it won't due to all my pre existing conditions. Almost anything that happened to me would be traced to my existing conditions. That's why I am undecided at the moment.

But I will cover my Thai family.

I used to have medical cover until I was 60 when it could no longer be renewed

[jasreeve17]

Of course, the poll only reflects the small subset of board members who bothered to vote on it. So it means very little. But I believe the people who voted were mostly being honest; why not?

because they are richer than me .

You never can tell on this forum. I know that I tell the truth at all times (you couldn't make that crap up...), but many others I take with a pinch of salt. A million dollars is quite wealthy even by western standards (I'm waiting for the 'a million dollars is nothing nowadays twot.), and I've never considered Thailand to be a place for wealthy folk. It's ok to visit. It's fine if you're potless or can just about affor4d to live, but for wealthy folk? Italy, Singapore, Australia, NZ, ++ have to be better if you've got enough cash. Just my opinion.

[Naam]

Of course, the poll only reflects the small subset of board members who bothered to vote on it. So it means very little. But I believe the people who voted were mostly being honest; why not?

looking at the sudden jump of percentage (40million and above) i too have some doubts whether the votes were honest. but so what?

[teej]

Another issue: Leaving a Legacy. I would like to leave my children (to be) all that I can to give them a head start in life.

others would appreciate to be as lucky as you. our only son and heir died 2½ years ago.

Very sorry for your loss, Naam.