When Is A Good Time To Retire...

[robert10]

I've chosen to post this here in CM forum as CM is where I hope to retire to one day

Would like to hear from those who are already retired, or working towards your retirement. If personal finances is not an issue for you, what are your considerations/experiences for deciding when to retire? Would you retire earlier (or later) or, looking back, are you happy with your retirement timing?

[pjclark1]

I don't think you can ever retire too early (if you have the money).

I pretty much retired at 45 but hung around in the UK for another 7 years (what a waste)

Still I have found CM now and have no intention of leaving.

The only big problem I have is how to find the time to do everything.

[beano2274]

Remember that Visas must also be a part of the considerations, Thai law 50 years old for retirement visa.

[ThaiPauly]

Ditto what pj said really.

I never really intended to retire, it just sort of happened.

But once I made the decision , I now find it to be wonderful, my days are full, I am seldom bored.

The only thing I would say is that you need to be financially secure to do it...but having said that it is really cheap to live in CM compared to other tourist type places in LOS.

Good luck

[alant]

Ditto what pj said really.

I never really intended to retire, it just sort of happened.

But once I made the decision , I now find it to be wonderful, my days are full, I am seldom bored.

The only thing I would say is that you need to be financially secure to do it...but having said that it is really cheap to live in CM compared to other tourist type places in LOS.

Good luck

pretty much the same for me and loving every second.

financial crisis was a worry at one time, if my bank had gone taking all of my cash with it that would have been a problem.

and just how long will i live so how much money do i need now that interest rates are reduced?

i have lots of friends in pattaya that are retired and if anything their life is cheaper than here if you exclude the tendency to go to a bar more often. but i prefer chiangmai.

[simcity]

Sorry a Bangkok resident here! but spend few months in CM

Retired at 40 and went straight to live here, keep all assets in my own country.

First few years, not sure if it was a financial right move, but time flow and assets rise.

Not missing the problems from staffs and everyday running a business.

Happy here during the last 12 years

[cpofc]

Same as you some of you blokes. 'Accidently' retired right after my 50th Birthday, in Thailand. You can shove the 'Christian Work Ethic' fair up your clacker! My old man died at 56 YO, so too with alot of my military mates, I'll be buggered if I am going to work until I peg out!

Retire? In Thailand? Sabai, Sabai. Best thing i ever did.

I keep my all assets in Australia and do not wish to own property in Thailand. I am under no illusions as to my 'status' here.

mmmmmmmm I can smell that coffeee again.....

take care and good luck

[Capealava]

Before you cannot get it up any more

[WinnieTheKhwai]

"10 years ago" would be a good time to retire.

Don't worry too much about visas, there's always a way.

[noise]

Of course everyone is different. But I can offer an observation about a group I belong to, mostly older types. A happy, successful retirement requires a "special" mental condition: you either have it or you do not.

I would suggest we reached a plateau where no more advancement was possible and/or it would not offer any challenges. Ego satisfaction no longer mattered while lack of job satisfaction did, i.e., it was no longer important to have this job or the next higher one (we go no joy out of this one and saw no fun beckoning from the next even if we could get it). The job is was no longer our life!

And, as your criteria to create the post in the first place, we no longer had to work to live.

And starting a new career was either not attractive or we realized we were just too old. By that I mean we might have the interest but a 50-60 year old beginner won't be hired for all the obvious reasons. And we didn't want to start our own business. We wanted to retire from the work force.

Sure, we might have occasional thoughts that we do not have the mental stimulation we used to have. But, as all the people who say they do not have enough time to do everything mean, they have found alternative ways to getting it.

You have to be self sufficient. If you require externally applied stimulation and/or direction to have a life (let alone enjoy life), retirement is not for you.

[IanForbes]

The sooner the better. It has been proven that people who retire early live longer. However, you DO need a plan on what to do with yourself. It REALLY helps if you have a lot of passionate interests. I'm fortunate that I am creative and there is a never ending supply of projects to keep me going. You can't just sit around and do nothing... Well, you can, but it cuts down on your quality of life. It's never too late to take up a new hobby.

[Thakkar]

Of course everyone is different. But I can offer an observation about a group I belong to, mostly older types. A happy, successful retirement requires a "special" mental condition: you either have it or you do not.

I would suggest we reached a plateau where no more advancement was possible and/or it would not offer any challenges. Ego satisfaction no longer mattered while lack of job satisfaction did, i.e., it was no longer important to have this job or the next higher one (we go no joy out of this one and saw no fun beckoning from the next even if we could get it). The job is was no longer our life!

And, as your criteria to create the post in the first place, we no longer had to work to live.

And starting a new career was either not attractive or we realized we were just too old. By that I mean we might have the interest but a 50-60 year old beginner won't be hired for all the obvious reasons. And we didn't want to start our own business. We wanted to retire from the work force.

Sure, we might have occasional thoughts that we do not have the mental stimulation we used to have. But, as all the people who say they do not have enough time to do everything mean, they have found alternative ways to getting it.

You have to be self sufficient. If you require externally applied stimulation and/or direction to have a life (let alone enjoy life), retirement is not for you.

Best comment on the subject I've ever read, and represents somewhat my state of affairs, on the matter of work satisfaction. We've all heard this: 'I don't mind the Rat Race, but I could do with a bit more cheese.' Well, even additional cheese, even if I were to get it, just wasn't doing it for me.

[siggie2]

Of course everyone is different. But I can offer an observation about a group I belong to, mostly older types. A happy, successful retirement requires a "special" mental condition: you either have it or you do not.

I would suggest we reached a plateau where no more advancement was possible and/or it would not offer any challenges. Ego satisfaction no longer mattered while lack of job satisfaction did, i.e., it was no longer important to have this job or the next higher one (we go no joy out of this one and saw no fun beckoning from the next even if we could get it). The job is was no longer our life!

And, as your criteria to create the post in the first place, we no longer had to work to live.

And starting a new career was either not attractive or we realized we were just too old. By that I mean we might have the interest but a 50-60 year old beginner won't be hired for all the obvious reasons. And we didn't want to start our own business. We wanted to retire from the work force.

Sure, we might have occasional thoughts that we do not have the mental stimulation we used to have. But, as all the people who say they do not have enough time to do everything mean, they have found alternative ways to getting it.

You have to be self sufficient. If you require externally applied stimulation and/or direction to have a life (let alone enjoy life), retirement is not for you.

Very good post,just about sums it up for me too.I worked from 15 yo to retire at 50 and i did it.Same as you,i didnt want any more promotions as i was national sales manager and good pensions.

[Jingthing]

This is such a personal decision!

I retired ten years earlier than I planned for economic reasons. I thought I had enough money but then the global asset meltdown hit and I was hit. I still don't regret my decision, but I may one day regret it. Do consider if you are forced to reenter the workforce, how incredibly difficult that would be for most older people after a 5 year plus idle period. Aside from it being difficult to find good paying satisfying work, you likely won't WANT to work anymore, unless you are one of the lucky ones whose work is their life passion. For me the bottom line is work ethic. I don't think workaholics would even consider quitting at 40 or 50.

[anonymouse]

Well I'm 43 and in no financial state to retire at the moment. I usually spend around 6 months in Thailand and then 6 months slogging my guts out in the UK.

I seem to keep busy here doing nothing really, This morning took the kids to school, went up to my secret little exercise spot and did an hour's exercise, came down and went for a massage, picked up a few items in the seven Eleven. Got home had some coffee and fruit, read the newspaper and now on the Internet - half the day is gone already.

I couldn't envisage myself being bored if I was here the whole year, it's the lack of cash that keeps me away

[siggie2]

I have been hit with losing money on stocks and shares but i also planned that i would have much more money when i am 65.I live here on about 50,000 baht a month but have house,car,motorbikes and dont go crazy too much lol.When i am 65 i will have another 45-50,000 baht so when i need more money as i get older it will be there.

[Jingthing]

Here is a good resource to check out on this topic.

http://www.retireearlyhomepage.com/

Some of it is practical financial advice only of relevance to Americans. But there is also more general info such as Is there a "Retire Early" personality type?

[thaimiller]

I have semi retired at 35, I have a business in the UK which im now only a silent partner. It used to be fully mine but my brother in law deals with the day to day running and gives me a percentage of profit, I have had to start a business up over here for visa reason's, it doesn't take up more than 4 hours a day and allows me to live comfortably, only problem is at 35 i get slightly bored and want to do more each day and theres only so many times you can paint the house.

[gpdjohn]

I have semi retired at 35, I have a business in the UK which im now only a silent partner. It used to be fully mine but my brother in law deals with the day to day running and gives me a percentage of profit, I have had to start a business up over here for visa reason's, it doesn't take up more than 4 hours a day and allows me to live comfortably, only problem is at 35 i get slightly bored and want to do more each day and theres only so many times you can paint the house.

Or walk that vicious man killer around the mooban laughing whilst he attacks unsuspecting old retired guys ...

Nice aviatar!

yer 'ol friend now in the middle of nowhere

[Pantip]

I’m 75 years old, been in Thailand since the days of Methuselah and still working, have business in Bkk & CM. Happy as a pig in sh’t. I am hoping that I can keep working till I kick the bucket.

I think it keeps me alert and ‘with it’. I wouldn’t know what to do with myself if I retired. I suppose that we are all different – to each is own!