Just Retired Here - Need Help Making A Budget Before Buying New Car

[Mattchu9999]

If he buys a truck will what happens in America happen to him in LOS, which is namely:

"Hey buddy noticed you have a pickup truck...hey I was wondering I'm moving to a new place and blah blah blah..."

????

[LaoPo]

If he buys a truck will what happens in America happen to him in LOS, which is namely:

"Hey buddy noticed you have a pickup truck...hey I was wondering I'm moving to a new place and blah blah blah..."

????

Nahhhh.....just put one of these in the back of the truck and NOBODY will ever dare to ask...

LaoPo

[Mattchu9999]

If he buys a truck will what happens in America happen to him in LOS, which is namely:

"Hey buddy noticed you have a pickup truck...hey I was wondering I'm moving to a new place and blah blah blah..."

????

Nahhhh.....just put one of these in the back of the truck and NOBODY will ever dare to ask...

LaoPo

LOL,

Actually I'd like to have a couple of these tied wait no errr chained up outside my yard...nothing better than a couple of Hyena's to scare them up a tree, and then use my attack baboon to climb up that tree and chase them back down...lol

Edited August 27, 2008 by Mattchu9999

[Lopburi99]

Life is short.

You appear to be a balanced and intelligent individual.

You have been here a while and are not so niave as to think that all is milk and honey here.

You appear also to have done groundwork, a budget and are prepared for what is ahead......hopefully it will be a positive and happy move for you.

If you have worked out that you can afford it, and if it makes you happy........Just do it!

Hi London (and the others),

Thank you. Yes, life is certainly short --- and fleeting!

My wonderful Thai wife-to-be has provided me with a free and clear house and all the furnishings and takes the best possible care of me, the least I can do for her is to get a good car and try to give her a stable and happy life. Can I afford it? Yes, if life does not throw me any nasty curveballs. If any of us has the misfortune of such a bout, do we actually think we can protect ourselves from this by having a large amount of money stashed away? How many people have you seen lying in their deathbed in a hospital, helpless with all their money?

I am well aware that my relatively meager income offers me little protection from surprises, but these are the cards I have been presently dealt so these are the cards with which I must play. The big things in life are out of our hands anyway so we should try to enjoy life every day and hope the Big Guy upstairs goes easy on us.

My final plans are to get the lower priced Honda City for about 9,000 baht/month unless it is just too small inside for me (I am not a small man). I just don't want the additional uncertainity of a used vehicle. We will limit our touring to going somewhere for a week or two every other month or so, strive to use prudent spending practices in general, and otherwise save as much as we can.

Thanks to everybody for participating in this great discussion. All input has been, and will continue to be taken to heart. I've benefited from all the insights offered.

Take care and best of luck....

Don (from the outskirts of Lopburi)

[think_too_mut]

I just don't know why so many people have bitten this troll.

So many trolls by members who had registrered a few years ago and now come with their 3rd or so post.

Is it an organized attack at the board?

Edited August 27, 2008 by think_too_mut

[zoltannyc]

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"How many people have you seen lying in their deathbed in a hospital, helpless with all their money?"

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Very well said.

[LaoPo]

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"How many people have you seen lying in their deathbed in a hospital, helpless with all their money?"

------------

Very well said.

NO; just people with no money say that

LaoPo

[zoltannyc]

LaoPo: You may have a point there

OP: I hope you are not converting the actual current pension amount (USD to Baht) and making a budget with unforeseeable adjustments in an unforeseeable future, you may have consider cross currency devaluations.

I started to work in Bangkok in May 1996 and the Baht was pegged to USD at rate of 25 in Jan 1998 it reached 56 Baht to USD due to the 1997 Asian Financial Crises, later it became 30 Baht/USD and now it's floating around 33-34 Baht/USD. You must have some degree of flexibility... the USD is climbing up now but we do not now for how long and the Baht may go up and down on long term.

As well as the average life expectancy in your age group is around 78 years i.e you have to plan ahead... you may even become a centenarian or super-centenarian and in that case you have to plan 40-50 years ahead.... (myself I never seen any really old farangs in LOS until now, though some of them was really old looking for some other reasons :D )

[Lopburi99]

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"How many people have you seen lying in their deathbed in a hospital, helpless with all their money?"

------------

Very well said.

NO; just people with no money say that

LaoPo

Oh the arrogance of some...

[Lopburi99]

LaoPo: You may have a point there

OP: I hope you are not converting the actual current pension amount (USD to Baht) and making a budget with unforeseeable adjustments in an unforeseeable future, you may have consider cross currency devaluations.

I started to work in Bangkok in May 1996 and the Baht was pegged to USD at rate of 25 in Jan 1998 it reached 56 Baht to USD due to the 1997 Asian Financial Crises, later it became 30 Baht/USD and now it's floating around 33-34 Baht/USD. You must have some degree of flexibility... the USD is climbing up now but we do not now for how long and the Baht may go up and down on long term.

As well as the average life expectancy in your age group is around 78 years i.e you have to plan ahead... you may even become a centenarian or super-centenarian and in that case you have to plan 40-50 years ahead.... (myself I never seen any really old farangs in LOS until now, though some of them was really old looking for some other reasons )

Hi Zoltannyc,

Yes, I am well aware of dollar/baht issues and it's uncertainty. It's highly disconcerting, but I am hoping it will not "half" again to 16 or so. If it does, high numbers of other ex pats also living here on modest pensions will also be in dire straits and will have no choice but to leave Thailand.

So, bottom line, do you think I cannot even afford 10,000 baht/month for transportation?

[LaoPo]

------------

"How many people have you seen lying in their deathbed in a hospital, helpless with all their money?"

------------

Very well said.

NO; just people with no money say that

LaoPo

Oh the arrogance of some...

He Lopburi99....what happened with your humor ? Come on, didn't you see my smiley

Cheer up man, lots of people spent time just for you, since YOU asked questions; I did my best too.

Don't drink sour grape juice, ok?

LaoPo

[GuestHouse]

"How many people have you seen lying in their deathbed in a hospital, helpless with all their money?"

How many people wind up prematurely lying in what is only their death bed because they can't afford medical treatment.

And how many expats in Thailand have jumped into early retirement, met, married a much younger woman, fathered children by her and then departed this life leaving their wife and children to face a future with no income?

[LaoPo]

And how many expats in Thailand have jumped into early retirement, met, married a much younger woman, fathered children by her and then departed this life leaving their wife and children to face a future with no income?

That's a very interesting question.

I certainly hope there aren't many Thai wives and children left alone without income ! They simply don't deserve so, if that would be the case.

Personally I know of a fellow gay country man who married (YES: married!) his long time Thai boyfriend to make sure he is secured with his pension, in case he (farang man) dies.

But, I'm aware that this is not possible in most countries, yet. But Farang men should take care (by means of a will or otherwise) of their wives (or gay partners) and kids.

LaoPo

[Gary A]

He can live VERY well on 60,000 baht per month upcountry. If I were him, I would buy a pickup truck rather than a car. I also live upcountry and have a car and a truck. There are many local places my car can't go because it is too low to the ground. My next truck will be a 4X4 because after a hard rain many of the roads are not passable with my two wheel drive truck.

[LaoPo]

He can live VERY well on 60,000 baht per month upcountry. If I were him, I would buy a pickup truck rather than a car. I also live upcountry and have a car and a truck. There are many local places my car can't go because it is too low to the ground. My next truck will be a 4X4 because after a hard rain many of the roads are not passable with my two wheel drive truck.

LaoPo

[london]

Life is short.

You appear to be a balanced and intelligent individual.

You have been here a while and are not so niave as to think that all is milk and honey here.

You appear also to have done groundwork, a budget and are prepared for what is ahead......hopefully it will be a positive and happy move for you.

If you have worked out that you can afford it, and if it makes you happy........Just do it!

Hi London (and the others),

Thank you. Yes, life is certainly short --- and fleeting!

My wonderful Thai wife-to-be has provided me with a free and clear house and all the furnishings and takes the best possible care of me, the least I can do for her is to get a good car and try to give her a stable and happy life. Can I afford it? Yes, if life does not throw me any nasty curveballs. If any of us has the misfortune of such a bout, do we actually think we can protect ourselves from this by having a large amount of money stashed away? How many people have you seen lying in their deathbed in a hospital, helpless with all their money?

I am well aware that my relatively meager income offers me little protection from surprises, but these are the cards I have been presently dealt so these are the cards with which I must play. The big things in life are out of our hands anyway so we should try to enjoy life every day and hope the Big Guy upstairs goes easy on us.

My final plans are to get the lower priced Honda City for about 9,000 baht/month unless it is just too small inside for me (I am not a small man). I just don't want the additional uncertainity of a used vehicle. We will limit our touring to going somewhere for a week or two every other month or so, strive to use prudent spending practices in general, and otherwise save as much as we can.

Thanks to everybody for participating in this great discussion. All input has been, and will continue to be taken to heart. I've benefited from all the insights offered.

Take care and best of luck....

Don (from the outskirts of Lopburi)

Hi Don,

what you say is 100% correct.

I'm sure that ALL the members have your best interests at heart.

Enjoy your life in LOS....and IF life does throw you a curveball....you can always sell the car. Hopefully that won't happen.

Thanks for your comments and chock dee !!

Regards

[neverdie]

The Mazda and Ford 0% interest is for Government Employees only (written in fine print in thai at the bottom of some of the ads).

Mazda interest for the rest of us is 3.5%, toyotas 3%, having driven fords half my life I wouldnt drive another if it was given to me.

I hope you have at least bail insurance for the motorcycle, might save you spending time in the clink when you cant come up with bail insurance after you run your motorcycle into the side of the local police chiefs mercedes.

I wish you all the best in your retirement, sounds as if you've been smashed by some F.U.F.M.G.W.(Filthy Ugly Farang Money Grabbing Woman) in the past, I dont think you need any advice about WOMEN!

Enjoy your retirement. :-)

[neverdie]

Forgot to mention in my last post, apparently a 25% deposit on a new car will avoid you requiring a garantor signing for you, they prefer lending to people with jobs, but some original paperwork about your US pension may cut it.

Insurance starts out somewhat expensive but lessens each year providing you dont wipe too many people out. (No different to your insurance back home). They won't consider your NO CLAIM BONUS back home, because THIS IS THAILAND (TIT).

Has your wife thought about selling her home and repurchasing somewhere a bit more central which may remove the need to spend money on a car, remember they need maintance too .

No one here likes to see some like you even in a harder situation. Have you considered the US Economy and the very real danger of your US Dollar being worth less in the future, despite the most recent trend.

[Lopburi99]

------------

"How many people have you seen lying in their deathbed in a hospital, helpless with all their money?"

------------

Very well said.

NO; just people with no money say that

LaoPo

Oh the arrogance of some...

He Lopburi99....what happened with your humor ? Come on, didn't you see my smiley

Cheer up man, lots of people spent time just for you, since YOU asked questions; I did my best too.

Don't drink sour grape juice, ok?

LaoPo

My apology to you, LaoPo. You have spent much time offering your opinions and suggestions for me to consider, which I have done and continue to do. Some of us with no money are more than a little sensitive about it - and it is so easy with the internet to post hastily and regret it later, as I do now. Lately I've been looking into health insurance here, and even looking at 4x4 pickups. I have never owned one, never thought I would, but your (and others') opinions need to be taken seriously. You all know a lot about living in Thailand and I know diddly squat. Also, the damned uncertainty of the USD is an ongoing nightmare knowing my income will always be held hostage to it, but there is nothing I can do about it other than not to overcommit or overspend and to bank as much as I can.

[Lopburi99]

"How many people have you seen lying in their deathbed in a hospital, helpless with all their money?"

How many people wind up prematurely lying in what is only their death bed because they can't afford medical treatment.

And how many expats in Thailand have jumped into early retirement, met, married a much younger woman, fathered children by her and then departed this life leaving their wife and children to face a future with no income?

Two good points. There is a huge element of risk in an older expat marrying a much younger woman on both sides. Those of you out there considering this, take extreme caution and go very very slowly!

[Lopburi99]

The Mazda and Ford 0% interest is for Government Employees only (written in fine print in thai at the bottom of some of the ads).

Mazda interest for the rest of us is 3.5%, toyotas 3%, having driven fords half my life I wouldnt drive another if it was given to me.

I hope you have at least bail insurance for the motorcycle, might save you spending time in the clink when you cant come up with bail insurance after you run your motorcycle into the side of the local police chiefs mercedes.

I wish you all the best in your retirement, sounds as if you've been smashed by some F.U.F.M.G.W.(Filthy Ugly Farang Money Grabbing Woman) in the past, I dont think you need any advice about WOMEN!

Enjoy your retirement. :-)

Hi Neverdie,

Thanks for the info about the 0% interest, I wasn't aware of this. About car makes, I also would never own a Ford here, or GM either for that fact. I want Honda or Toyota quality. I'm even leery of Mazda because I've owned one before and it wasn't that great. Also, the resale of a Chevy or Ford here is most likely awful.

Thanks for the best wishes, good luck to you too.

Regarding FUFMGW, have you had ESP all your life?

[LaoPo]

My apology to you, LaoPo.

No hard feelings. I really and honestly wish you and your Lady well, a long life and wisdom in your decision buying a car !

LaoPo

[Lopburi99]

Forgot to mention in my last post, apparently a 25% deposit on a new car will avoid you requiring a garantor signing for you, they prefer lending to people with jobs, but some original paperwork about your US pension may cut it.

Insurance starts out somewhat expensive but lessens each year providing you dont wipe too many people out. (No different to your insurance back home). They won't consider your NO CLAIM BONUS back home, because THIS IS THAILAND (TIT).

Has your wife thought about selling her home and repurchasing somewhere a bit more central which may remove the need to spend money on a car, remember they need maintance too .

No one here likes to see some like you even in a harder situation. Have you considered the US Economy and the very real danger of your US Dollar being worth less in the future, despite the most recent trend.

Yes, I have been told by Honda for me 25% will work, and Toyota has said 20% will be ok. I'll believe it when I see it. Obviously if the financing ultimately doesn't come together, my decision about buying a new vehicle will be made for me. But I still like the idea of biting the bullet now with a new vehicle costing about 10k/month, taking perfect care of it, and keeping it for the long term. The car we have access to on weekends now is a 1991 Toyota Corolla and not pretty but ok, so after almost 18 years (even in Thailand) a vehicle can still keep running. Regarding insurance, 10,000/yr. or so doesn't seem too bad, assuming it is for full coverage.

About possibly relocating, I considered that (especially since there are so few farang here in Lopburi - almost none). But my wife has lived here almost all her life, has many close friends and family, and I just can't bring myself to asking her to move. She has already said "Up to you", but I think it would be a mistake. Maybe in a few years, we'll see. Personally I'd like to live on the seashore somewhere, like maybe in Pranburi. You are right, no vehicle needed if we lived there because there would be no burning desire to tour.

On previous posts you can read my major concerns about the USD/Baht.

Thanks, and good luck!

[desktop]

Lopburi, I think you said you were from the USA, so

don't forget you may be able to receive Social Security payments at 62.

[lanny]

In all the replies to the OP, no one has mentioned the lack of taxes from OP's budget. His projected income seems to be from a Federal civil service pension, which is probable fully taxable. No Thai taxes but he will owe US income tax and will probably have some tax withheld. If he did not take that into consideration in estimating his income at 60,000 to 65,000, then is could have as much as 6,000 taken from each month's paycheck.

Remember, the foreign exclusion is for currently earned income, it does not apply to pensions, etc.

[Lopburi99]

In all the replies to the OP, no one has mentioned the lack of taxes from OP's budget. His projected income seems to be from a Federal civil service pension, which is probable fully taxable. No Thai taxes but he will owe US income tax and will probably have some tax withheld. If he did not take that into consideration in estimating his income at 60,000 to 65,000, then is could have as much as 6,000 taken from each month's paycheck.

Remember, the foreign exclusion is for currently earned income, it does not apply to pensions, etc.

Hello desktop and Lanny,

Actually it is U.S. Social Security benefits which I currently receive. Although Lanny is correct and the benefits are fully taxable, at my level and with no other income my taxes are zero. Others have projected SSA benefits will increase by about 3% annually so at least there is some growth, albeit minimal. Supposedly this is an annual cost of living adjustment due mostly to inflation but from what I've read the Fed's method of calculation is, shall we say, "conservative" at best.

Thanks for your replies.