Very General Newbie Question!

[ProfessorFart]

I'm wondering what planet some of you live on? £100K (approx THB7M) would be enough to retire on in the UK let alone Thailand.

[meemiathai]

Don't say I didn't warn you!  Foreigners are being killed by Thais everyday tying their hands at their back and putting plastic bags on their heads, making them look like suicides for the police.

Sounds just like where i live, especially Fri or Sat night. Even worse happens to wind up merchants.

As long as you do not associate with the wrong people I think you'd be OK!

But I think 7M baht would not be enough unless you got something else coming in.

Do also ignore ProfessorFart, he's like me!

[Peewee]

I envy you - you have a nice ambition there. I have a house (or my Thai wife does) in Lamphun - its great up there by the mountains. We tend to spend about 15% of our time in Thaialnd and the rest in the UK. The plan is that we will grandually turn those ratios around over the next few years.

However, I have to say, the life style would not suit everyone one so you should take an extended break to a few places over there to check it out. By the way you would not be able to buy your own property presently and so you would have to rent. Only Thai Nationals are allowed to buy land. You could always build something an then lease it for 30 years from some intermediary, but the place would never be your own.

[KhunPadThai]

I'm wondering what planet some of you live on? £100K (approx THB7M) would be enough to retire on in the UK let alone Thailand.

<{POST_SNAPBACK}>

Prof.,

How do you figure that? My calcullation is that on 4% interest they can spend 42,000 Baht per month and will be out of money in 20 years at age 77. And that assumes that the exchange rate remains stable which is not likely. If they spend only 36,000 per month they could stretch it to 25 years. Do you think two people could live on less than that in Thailand?

Khun Pad Thai

[ProfessorFart]

Well, I'd say 42,000 would go a ###### of a long way even for two people particularly a couple.

My ex and I did ourselves very well on 30,000 a month, which included rent (4,500) all of the creature comforts inc elec, gas, cable tv (1000) Shopping (4000) and 2 weekend blow outs a month in BKK (10,000) We'd also have nights out at out local (cheap, cheerful but good Isaan restaurant) several times a week.

I'm also taking account that maybe as a married couple more advanced in years than we were, the need to blow out in BKK (or wherever) may not be as strong for them as it was for us.

I would also assume that they would also be getting some form of pension at 60/65.

I'd say it would go a long way.

[thaiflyer1]

I/m with the borderline crowd on this one, it is doable if your planning on another 20 years life expectancy........if the figure had been 10m baht i/d be happier, there again we dont know what sort of pensions you are due to collect.

[ProfessorFart]

I guess the bottom line here is lifestyle. If you're a pipe, slippers and a good novel on the verandah with a G and T kind of person then its more than enough. If you're an out to the bright lights every night type its not going to last you.

It did for me and my ex because I suppose we fell somewhere between the 2 stools. Breaking down a fortnight, we'd have 2 big nights, 5 nights at out local, and 7 nights at home.

Had we prefered the quieter life we would have been very well off, had we been more outgoing it would have been a stretch.

[basinboy]

Like Whitehawk I'm another absolute newbie, also only came accross the forum yesterday. Great forum and a very interesting thread, I could have asked the same question myself. It's very interesting, some people think that 8 million is plenty some don't think it's enough, whether Thailand the UK or anywhere else, everyone has a different idea about what constitutes enough. I imagine Whitehawk doesn't think he is going to live off the interest, but If half of it is used up before the pensions arrive and the remainder can supplement the UK pension, wouldn't that represent a reasonable life style?

Anyway as a raw newbie I'll do more reading than posting for a while I'm sure. I think I'm really going to get a lot from the forum, Thanks guys

[KhunPadThai]

Well, I'd say 42,000 would go a ###### of a long way even for two people particularly a couple.

My ex and I did ourselves very well on 30,000 a month, which included rent (4,500) all of the creature comforts inc elec, gas, cable tv (1000) Shopping (4000) and 2 weekend blow outs a month in BKK (10,000) We'd also have nights out at out local (cheap, cheerful but good Isaan restaurant) several times a week.

I'm also taking account that maybe as a married couple more advanced in years than we were, the need to blow out in BKK (or wherever) may not be as strong for them as it was for us.

I would also assume that they would also be getting some form of pension at 60/65.

I'd say it would go a long way.

<{POST_SNAPBACK}>

Interesting to see your actual expenses.

An older couple may not need the blowouts, but they have more need of medical care, which didn't figure into your expenses. In Thailand medical care may be a bargain, but with two people there is a pretty good chance of some major medical emergencies.

They could get a better return than 4%, but that would entail taking on investment risk. The exchange rate could tip further in their favor, but I think at least as likely to go the other way.

So, in my opinion, they might be able to do it, but they would be right on the edge and with a high risk that one of them would end up broke.

[A. BOOZER]

Well, I'd say 42,000 would go a ###### of a long way even for two people particularly a couple.

My ex and I did ourselves very well on 30,000 a month, which included rent (4,500) all of the creature comforts inc elec, gas, cable tv (1000) Shopping (4000) and 2 weekend blow outs a month in BKK (10,000) We'd also have nights out at out local (cheap, cheerful but good Isaan restaurant) several times a week.

I'm also taking account that maybe as a married couple more advanced in years than we were, the need to blow out in BKK (or wherever) may not be as strong for them as it was for us.

I would also assume that they would also be getting some form of pension at 60/65.

I'd say it would go a long way.

<{POST_SNAPBACK}>

Interesting to see your actual expenses.

An older couple may not need the blowouts, but they have more need of medical care, which didn't figure into your expenses. In Thailand medical care may be a bargain, but with two people there is a pretty good chance of some major medical emergencies.

They could get a better return than 4%, but that would entail taking on investment risk. The exchange rate could tip further in their favor, but I think at least as likely to go the other way.

So, in my opinion, they might be able to do it, but they would be right on the edge and with a high risk that one of them would end up broke.

<{POST_SNAPBACK}>

At 57 they will need to keep National Insurance contributions paid up, to ensure that they achieve maximum pension rights at 65. 7,000,000 Bht should provide a reasonable living until the UK pension kicks in, and that on it's own should provide a more than adequate standard of living. Just don't forget the cost of health insurance.