Best Age To Retire To Thailand

[expatdreamer]

Hi All

Long time lurker, first time poster

My story - early 40s male, divorced a few years ago, went to Thailand for the first time a year or so ago, fair to say that since then have been thinking about getting back there on more of a full time basis. Realistically cannot retire until 50 (which works well with the retirement extension age), but of course the longer I work beyond 50 the more cash that builds up in the retirement kitty.

So for those that have done this already, what do you recommend being the best option:

A. Age 50. Sell house, live off interest from proceeds and other money, and have an early retirement (for me) in Thailand - talking around 100k baht / month

B Age 55. Rent house + interest from savings - around 200k baht / month income

C Age 60. Could probably live half time here in Oz and half time in Thailand, with an income around 300k baht / month

Now I know 100k baht / month should be enough from what I have read and experienced, but I guess the question is - for those that made the move as soon as they could, any regrets? Conversely, for those that kept working, any regrets? Your thoughts please.

[kerryk]

Depends on when you are going to die.

[expatdreamer]

Depends on when you are going to die.

lol. Nice one kerry, always enjoy your posts - from what I have read, you look to have led a very interesting and full life.

Both parents still alive and very well/active in their mid 70s. As for me, no health problems I am aware of, but the job has its stresses from time to time.

But no guarantees right...

[letitbe]

I reckon around 25 years make a bundle and then come over and swindle loads of expats as a lot of forangs do here. Dont worry about visa tea money no problem

[TommyDee]

55

[Swiss1960]

Depends on when you are going to die.

lol. Nice one kerry, always enjoy your posts - from what I have read, you look to have led a very interesting and full life.

Both parents still alive and very well/active in their mid 70s. As for me, no health problems I am aware of, but the job has its stresses from time to time.

But no guarantees right...

Few thoughts: You did'nt mention family ties / kids that might be important for you back home and how often you need to see them? That is what stopped me from coming too early. What thoughts do you have to live in a beautiful country but with nothing to do (no job) for the next 30-40 years of life? What thoughts do you have about returning to Oz later in your life, is this an option you want to keep open?

All this does influence your decision and we can't really give you much of advice about those points...

[maccaroni man]

if you can not do it now go for the gold and take long holidays in lol along the way.

[expatdreamer]

Depends on when you are going to die.

lol. Nice one kerry, always enjoy your posts - from what I have read, you look to have led a very interesting and full life.

Both parents still alive and very well/active in their mid 70s. As for me, no health problems I am aware of, but the job has its stresses from time to time.

But no guarantees right...

Few thoughts: You did'nt mention family ties / kids that might be important for you back home and how often you need to see them? That is what stopped me from coming too early. What thoughts do you have to live in a beautiful country but with nothing to do (no job) for the next 30-40 years of life? What thoughts do you have about returning to Oz later in your life, is this an option you want to keep open?

All this does influence your decision and we can't really give you much of advice about those points...

Good points / questions.

One child who will be mid 20s by the time I am 50. Doesnt live with me now as it is, and is becoming more and more independent, so dont think this will be an issue. Parents will be into their 80's if still well, apart from that dont have anything really holding me back.

As for the nothing to do bit, fair comment, but after working for 30 years with deadlines and pressure, the doing nothing much but say reading the paper, going for walks along the beach, wondering about what to have for lunch (one of the members said that was their main decision for the day recently on this forum), going out for a drink and perve at night - all kind of sounds pretty appealing to me. Not really that much for me to return to here once I am done building up the kitty, thinking about it......ex wife can do the grandkid baby sitting thing should that come along in the future

[expatdreamer]

55

short and sweet - fair enough

[expatdreamer]

if you can not do it now go for the gold and take long holidays in lol along the way.

So I take it you mean go to 60. Problem with the job is that long holidays arent really possible whilst I stick with it.

[Swiss1960]

Depends on when you are going to die.

lol. Nice one kerry, always enjoy your posts - from what I have read, you look to have led a very interesting and full life.

Both parents still alive and very well/active in their mid 70s. As for me, no health problems I am aware of, but the job has its stresses from time to time.

But no guarantees right...

Few thoughts: You did'nt mention family ties / kids that might be important for you back home and how often you need to see them? That is what stopped me from coming too early. What thoughts do you have to live in a beautiful country but with nothing to do (no job) for the next 30-40 years of life? What thoughts do you have about returning to Oz later in your life, is this an option you want to keep open?

All this does influence your decision and we can't really give you much of advice about those points...

Good points / questions.

One child who will be mid 20s by the time I am 50. Doesnt live with me now as it is, and is becoming more and more independent, so dont think this will be an issue. Parents will be into their 80's if still well, apart from that dont have anything really holding me back.

As for the nothing to do bit, fair comment, but after working for 30 years with deadlines and pressure, the doing nothing much but say reading the paper, going for walks along the beach, wondering about what to have for lunch (one of the members said that was their main decision for the day recently on this forum), going out for a drink and perve at night - all kind of sounds pretty appealing to me. Not really that much for me to return to here once I am done building up the kitty, thinking about it......ex wife can do the grandkid baby sitting thing should that come along in the future

Interesting... same situation with me now (being 51)... I decided to do it with 55 and 1mio Swiss in cash and 150K Baht retirement money starting with 65... gives me the opportunity to live on my cash (assuming 150K / month) for the first years and travel back home for two holidays a year to see kid, mom, grandkids (hope not too early...) and have some party with friends... so I go for the financially middle secure solution just in case anything happens to health, economy etc.

[kennkate]

Plan B sounds about right. Don't burn your bridges in OZ you never know .

Good luck whatever you decide on.

[expatdreamer]

Thanks Swiss, appreciate your input

Also, thanks Kennkate. Looks like the middle of the road option is the early favourite, and to be honest if I had to say, it is the one I am leaning most towards and means I wont burn any bridges and provides a comfortable buffer.

I also stand to inherit another $400k or so AUS when parents pass (not that I am waiting for that to happen, hope they continue to be well for many years to come). So that provides a further hedge against inflation. With my assets, wont be entitled to old age pension I think but assuming I dont build too many houses and buy blocks of land up in Issan, dont think I will need it :-)

[Swiss1960]

Thanks Swiss, appreciate your input

Also, thanks Kennkate. Looks like the middle of the road option is the early favourite, and to be honest if I had to say, it is the one I am leaning most towards and means I wont burn any bridges and provides a comfortable buffer.

I also stand to inherit another $400k or so AUS when parents pass (not that I am waiting for that to happen, hope they continue to be well for many years to come). So that provides a further hedge against inflation. With my assets, wont be entitled to old age pension I think but assuming I dont build too many houses and buy blocks of land up in Issan, dont think I will need it :-)

Careful.... Thai ladies can be more expensive than building houses

[BEENTHEREDONETHAT]

If you can set up a budget that allows you to save 10% of your earnings (from rents, interest or pension) you should have no problem at any of those ages. Just don't charge anything you can pay for with cash.

My wife and I did that 27 years ago when I was 50, our money has grown every year since then and we are quite comfortable now. In that 27 years we have paid essentially 0 interest. I have never regretted retiring at 50 and have never been bored with it.

Now we spend the summers in the states and the northern winters in Thailand. Works great for us.

Go for it. You only live once so enjoy it as much as you can. Having a hobby or two helps keep you busy and thinking.

[jamescollister]

Op Thailand is gettingexpensive, What may be OK income today may not keep the dogs from the door in years to come. It's a big move and many have had to head home, broke or to live out their lives with less than they could have.

I make the move at 53 years old, but started preparing when I was 44 years old.

Here's my blog on how I got here. Start at the beginning, which is where I started. Jim

http://jamescollister.blogspot.com/

[Kwasaki]

Fleg me, 100,000 baht a month at 50 or 300,000 baht a month at 60. you have got to be pulling my pisser. :lol: :lol:

I managed to retired at 57 wish it could of been sooner if I had your figures I'd retired at 50 but everyone to decide on there own destiny.

Edited October 12, 2011 by Kwasaki

[ludditeman]

A age 50

Time to get a new wife, have a new family, and see them through uni.

You get a much better choice of woman if you are prepared to breed with them.

Bonus

New young wife and new kids will really piss off the ex.

Edited October 12, 2011 by ludditeman

[IanForbes]

It all depends on your life style and what you expect from life. There have been hundreds of discussions about how much money you need in Thaiand. A lot depends on your life style. There have also been studies that show the earlier a person retires the longer they live. But, I imagine those studies would concentrate on people who have enough money to continue a similar life style. Can you live a simple life like a Thai, and not get bored doing nothing all day? It sure helps to have a lot of hobbies if you are retired. A busy mind keeps a person young.

[sotsira]

Do it as early as you feel you can afford to, but don't sell your property at first,

rent it out so you always have something to go back to if you need to, once you've

lived in Thailand for a few years and your sure it's the place for you then you can sell up in your

older years ie: 60+

Don't burn your bridges!

Until you've lived here you won't know if you'll really like it.

Holidays and living here are very different.

[astral]

On no account sell your house back home.

With the current economic crisis, inflation has to come.

Money in property has to be the safest bet.

Also, if life in LOS goes pear shaped you have somewhere to go back to.

[IanForbes]

That is excellent advice from sotsira and Astral. DON'T BURN BRIDGES!

I am fortunate that I can live in two countries and bounce back and forth when I get bored of either one. One thing I've learned as I got older is you can exist quite happily with far less then you THINK you need. There is no need for the fancy big home on the hill unless you do a LOT of entertaining. You can only sit on one chair at a time and sleep in one bed at a time.

[expatdreamer]

A age 50

Time to get a new wife, have a new family, and see them through uni.

You get a much better choice of woman if you are prepared to breed with them.

Bonus

New young wife and new kids will really piss off the ex.

Thanks ludditeman, and there I was thinking about getting the snip soon. If I get the snip, does that really narrow down my choices should I want a new wife.

[expatdreamer]

Kwasaki

These numbers are about right, have been over the sums many times. Keep in mind the numbers effectively include a forced private pension scheme (superannuation) introduced by the Oz govt not long after I started working - for many who would have retired ten or twenty years ago, there would have been very little if anything in this pot for them. Having a salary well into six figures from building a career since leaving uni > 20 years ago also doesnt hurt.

[expatdreamer]

Jim Collister

Yes Jim, have already read through your blog - it is a pleasure to read, and have marked it as a favourite. Shows how long I have lurking on this site and living the dream vicariously through you guys on this forum.

Really enjoyed the "Losers and Dreamers" post with the 55 yo US guy with $4M to his name, marrying the first hot go go girl that he meets, only to feel that he still doesnt have enough at $4M and goes back to the US, leaving his nubile young wife up country in her new home, car, etc. Dont want that guy to be me in 10 years time! Even I know $4M is more than enough.

Edited October 12, 2011 by expatdreamer

[Ijustwannateach]

This thread seems likely to go the way of many, many, many, many 'how much money does it take to live in Thailand' threads. Let's be creative and try not to make it that.

Here are some thoughts for OP.

1. It seems that you have already decided, in your early 40s, that your life is in Thailand (even though you are not). Are you really going to wait 15 years to start 'really' living your life (once you can retire) and use that as a reason to put off any potential living that might distract you in the meantime? I mean, this means that you're going to wait another 10 years before you START looking for a 2nd wife (being at the disadvantage of different country, different language, etc., etc.)- and if you're dating real Thai women they're going to want you to be a husband- and then possibly children- how old will they be when they finish high school?? Because if you're going to have a wife and children before then, you wouldn't want to be moving them across the world. Maybe you're already done with that, but in any case if you're deciding to be here 15 years from now, or potentially almost 20 years from now, are you really going to put your emotional availability on hold that long?!?

2. I'm no psychic, but I'm pretty sure that in 20 years 100K a month isn't going to be all that it used to be, even if it's still better than what many people get.... and this will be just as you're STARTING the older part of retirement, when illnesses and special medical needs all go up, in a country that will probably never have real public health care?

3. On the other hand, no one knows how long they'll live. Maybe you've had some early warning signs about illness telling you to retire sooner rather than later. That would tend to cancel out #1 and #2 to some extent- but you would know best if this were the case or not.

I guess I would recommend, that if you really and truly decided life in Australia (or any other English-speaking country where you could work) was no longer for you, and/or you are troubled by significant early signs of likely terminal illness, you should probably take early retirement, put all the money in the bank, and come over as soon as possible and find a way to keep making a living to pay your monthly expenses until you can retire more comfortably and/or enjoy yourself until the health problems stop you- and then really LIVE here.

On the other hand, if you're not too bothered about living where you are awhile yet, if you're shooting for the maximum safety and security (and financial reward) and your work is enjoyable and you are not experiencing health problems and your family has a history of longevity, I'd say hold out as long as you can. Maybe you'll find out your life happens otherwise while you're making future plans.

[expatdreamer]

Astral, Ian and Sostsira

Thanks. Bottom line, dont sell house, got it. It's not easy paying off a house on one income in Oz (with house prices here) whilst at the same time paying $1,000 AUS child support every month - believe me, a lot of blood, sweat and tears to get it paid off. So I imagine when it comes to the crunch I would find it hard to sell emotionally in any event

By the way Ian, really enjoy your posts here too - you put some great photos as well on the forum for others to see.

[ludditeman]

A age 50

Time to get a new wife, have a new family, and see them through uni.

You get a much better choice of woman if you are prepared to breed with them.

Bonus

New young wife and new kids will really piss off the ex.

Thanks ludditeman, and there I was thinking about getting the snip soon. If I get the snip, does that really narrow down my choices should I want a new wife.

It restricts you to 40+ women or women who have 3 children already, cos the girls here ALL want at least 2 children.

Although IMHO no woman is ever really yours until you have had children with her, so no children with them = no real commitment from them.

There are a lot of people here that will disagree with me BUT, all the guys I know who have had the snip have become, sort of, soft.

Hard to describe but they no longer seem manly, might be a psychological effect on them, but I think it's physical.

Edited October 13, 2011 by ludditeman

[BuffaloRescue]

Sell house now. Australian property is at least 30% overvalues and will fall even further when the US economly finally fails. Australia is very closely tied to the US with over 400 billion of austrlaians money invested in the USA

Buy gold and hold. Maybe some farm land in australia.

Rent.. work until you are 55.

See what the economic situation is by then.. anything could happen. Personally im seeing a large correction between east and west and the value of currencies etc. Commodities are more or less the same price around the world now, only labour and and artificial perception of the value of currency that is different.

[BuffaloRescue]

If you move to thailand now she cant chase you for child maintenance