I Would Love To Live In Thailand

[Andy Mac]

After visiting Thailand twice now and after a recent announcement at work that there will be a big possibilty of 1/4 of the workforce being made redundant. I would love to change my life in a big way.

If i was made redundant at 43 and to sell my house i would have about just over £100,000 to my name.

I have a girlfriend who works in Patong as a manager of a restuarent and here its that i would love to live and maybe marry her.

I know that if i was to ask the forum a question like would i be able to buy a small house and buy into a small bar and live, with this kind of money. Then answer would be collosal with so many things and pitfalls to think about. But in general would a dream like this be possible or would i need a lot more financial clout and still need income from abroad.

[TizMe]

How would we know? Do you have experience in running a bar? (sitting on the receiving side of the bar doesn't count) What kind of expenses should we consider, are you a cheap charlie that will live in a 4m x 4m room the same as poor Thais or do you want a penthouse at the Ritz? How much does the GF earn? how much will she expect you to give her each month? How much does she expect you to give her for sick buffalos, grandma's hospital stays, brothers motorcycle accidents etc. Do you want to eat Thai food or falang food? Do you want to drink Johnny Walker Blue label or Thai rice wiskey? Do you want to get plastered every day or do you only drink one glass per year with your christmas meal? Do you intend to marry the GF one day? How much sin sod are her parents going to ask for? Will you want to buy a new car? A Mercedes? A Toyota? A scooter? Do you want to be able to travel to the UK a couple of times per year, or a trip to soi 8 on the back of a motorcycle taxi once every 5 years will do for vacations. Will you want to buy name brand clothes at the upmarket shopping centres or will you rustle through the 3 for 100 baht second hand clothes markets.

Once you have answered all these questions then there will be another 342 questions that will need to be answered before an acurate answer can be given to your question.

[easy_jim]

Keep the house and rent it out. That way you will have an income and a house to go back to if things don't work out in Thailand.

And yes it is possible to buy a bar and make a living in Thailand but the odds are not good. A lot of people try but most of them lose their money. Some make a living and a few make a good living.

[jing jing]

Maybe.

[Thai Chi]

How would we know? Do you have experience in running a bar? (sitting on the receiving side of the bar doesn't count) What kind of expenses should we consider, are you a cheap charlie that will live in a 4m x 4m room the same as poor Thais or do you want a penthouse at the Ritz? How much does the GF earn? how much will she expect you to give her each month? How much does she expect you to give her for sick buffalos, grandma's hospital stays, brothers motorcycle accidents etc. Do you want to eat Thai food or falang food? Do you want to drink Johnny Walker Blue label or Thai rice wiskey? Do you want to get plastered every day or do you only drink one glass per year with your christmas meal? Do you intend to marry the GF one day? How much sin sod are her parents going to ask for? Will you want to buy a new car? A Mercedes? A Toyota? A scooter? Do you want to be able to travel to the UK a couple of times per year, or a trip to soi 8 on the back of a motorcycle taxi once every 5 years will do for vacations. Will you want to buy name brand clothes at the upmarket shopping centres or will you rustle through the 3 for 100 baht second hand clothes markets.

Once you have answered all these questions then there will be another 342 questions that will need to be answered before an acurate answer can be given to your question.

TizMe, are you pissed, or just pissed off that you are in OZ at the moment It was Andys first post mate. You are normally a little bit more reserved than this And at least you managed to get back to OZ this year, I have to wait until next November

<{POST_SNAPBACK}>

[sriracha john]

100000 pounds will provide an income of over 40,000 baht a month for 15 years... without buying into anything... and excluding any additional monies from interest accrued over time.

[britmaveric]

100000 pounds will provide an income of over 40,000 baht a month for 15 years... without buying into anything... and excluding any additional monies from interest accrued over time.

<{POST_SNAPBACK}>

Not enough I'm afraid!!!!

[udon]

Keep the house and rent it out.  That way you will have an income and a house to go back to if things don't work out in Thailand.

And yes it is possible to buy a bar and make a living in Thailand but the odds are not good.  A lot of people try but most of them lose their money.  Some make a living and a few make a good living.

<{POST_SNAPBACK}>

Good advice and forget the bar!

[sriracha john]

100000 pounds will provide an income of over 40,000 baht a month for 15 years... without buying into anything... and excluding any additional monies from interest accrued over time.

<{POST_SNAPBACK}>

Not enough I'm afraid!!!!

<{POST_SNAPBACK}>

True, if your lifestyle is one that includes the aforementioned:

a penthouse at the Ritz

drink Johnny Walker Blue label

want to get plastered every day

A Mercedes

travel to the UK a couple of times per year

buy name brand clothes at the upmarket shopping centres

If it's not, and assuming even a modest interest accruing to bump it to 50K/month, a very enjoyable and quite pleasant lifestyle could be his for a lengthy amount of time without the pitfalls of throwing the money away on a bar.

Edited December 11, 2005 by sriracha john

[dereklev]

If it's not, and assuming even a modest interest accruing to bump it to 50K/month, a very enjoyable and quite pleasant lifestyle could be his for a lengthy amount of time without the pitfalls of throwing the money away on a bar.

I have to say I have great admiration for all of you who can live an enjoyable and pleasant lifestyle on 50K a month.

I can live well on that amount if I exclude my car repayments, insurance (home, car, health), travel in Thailand, nights out with the boys in Korat, buying spontaneous gifts for my wife and son...etc, etc

But then I guess I would not be having an enjoyable and pleasant life.....

He is only 43 what happens to the poor s*d when he is potless at 58! !

[sriracha john]

If it's not, and assuming even a modest interest accruing to bump it to 50K/month, a very enjoyable and quite pleasant lifestyle could be his for a lengthy amount of time without the pitfalls of throwing the money away on a bar.

<{POST_SNAPBACK}>

I have to say I have great admiration for all of you who can live an enjoyable and pleasant lifestyle on 50K a month.

I can live well on that amount if I exclude my car repayments, insurance (home, car, health), travel in Thailand, nights out with the boys in Korat, buying spontaneous gifts for my wife and son...etc, etc

But then I guess I would not be having an enjoyable and pleasant life.....

He is only 43 what happens to the poor s*d when he is potless at 58! !

<{POST_SNAPBACK}>

ahhh...the "what to do then" angle IS the only real hangup... as I suppose there's no real answer for that.

As for the other aspects, on 50K one can certainly still travel and have nights out and buy gifts for loved ones...I guess it just depends on whether it's a 5 carat diamond or a dozen roses for the gift selection.

[johnnyk]

100000 pounds will provide an income of over 40,000 baht a month for 15 years... without buying into anything... and excluding any additional monies from interest accrued over time.

<{POST_SNAPBACK}>

...and then he is 58.

[dereklev]

If it's not, and assuming even a modest interest accruing to bump it to 50K/month, a very enjoyable and quite pleasant lifestyle could be his for a lengthy amount of time without the pitfalls of throwing the money away on a bar.

I have to say I have great admiration for all of you who can live an enjoyable and pleasant lifestyle on 50K a month.

I can live well on that amount if I exclude my car repayments, insurance (home, car, health), travel in Thailand, nights out with the boys in Korat, buying spontaneous gifts for my wife and son...etc, etc

But then I guess I would not be having an enjoyable and pleasant life.....

He is only 43 what happens to the poor s*d when he is potless at 58! !

ahhh...the "what to do then" angle IS the only real hangup... as I suppose there's no real answer for that.

As for the other aspects, on 50K one can certainly still travel and have nights out and buy gifts for loved ones...I guess it just depends on whether it's a 5 carat diamond or a dozen roses for the gift selection.

Never mind the "what to do then" angle, he would have died from worrying about his ever diminishing capital long before then.......

I don't buy 5K diamonds but I do often buy flowers....

[sriracha john]

100000 pounds will provide an income of over 40,000 baht a month for 15 years... without buying into anything... and excluding any additional monies from interest accrued over time.

<{POST_SNAPBACK}>

...and then he is 58.

<{POST_SNAPBACK}>

There's no easy answer... but I reckon it's better than being 44 and in the same boat because of flushing 100K pounds down a bar's drain.

[sriracha john]

If it's not, and assuming even a modest interest accruing to bump it to 50K/month, a very enjoyable and quite pleasant lifestyle could be his for a lengthy amount of time without the pitfalls of throwing the money away on a bar.

<{POST_SNAPBACK}>

I have to say I have great admiration for all of you who can live an enjoyable and pleasant lifestyle on 50K a month.

I can live well on that amount if I exclude my car repayments, insurance (home, car, health), travel in Thailand, nights out with the boys in Korat, buying spontaneous gifts for my wife and son...etc, etc

But then I guess I would not be having an enjoyable and pleasant life.....

He is only 43 what happens to the poor s*d when he is potless at 58! !

<{POST_SNAPBACK}>

ahhh...the "what to do then" angle IS the only real hangup... as I suppose there's no real answer for that.

As for the other aspects, on 50K one can certainly still travel and have nights out and buy gifts for loved ones...I guess it just depends on whether it's a 5 carat diamond or a dozen roses for the gift selection.

<{POST_SNAPBACK}>

Never mind the "what to do then" angle, he would have died from worrying about his ever diminishing capital long before then.......

I don't buy 5K diamonds but I do often buy flowers....

<{POST_SNAPBACK}>

as do I....

In actuality, I'm more in the camp that recommends renting the house out and living off the proceedings, provided the monthly rent obtained is enough.

btw, at what age can Brits obtain a monthly retirement stipend from the government? I do understand from a few older Brits I know here that it's at a reduced rate compared to what they can draw in the UK and I found that to be rather unsettling.

[RamdomChances]

After visiting Thailand twice now and after a recent announcement at work that there will be a big possibilty of 1/4 of the workforce being made redundant. I would love to change my life in a big way.

If i was made redundant at 43 and to sell my house i would have about just over £100,000 to my name.

I have a girlfriend who works in Patong as a manager of a restuarent and here its that i would love to live and maybe marry her.

I know that if i was to ask the forum a question like would i be able to buy a small house and buy into a small bar and live, with this kind of money. Then answer would be collosal with so many things and pitfalls to think about. But in general would a dream like this be possible or would i need a lot more financial clout and still need income from abroad.

<{POST_SNAPBACK}>

I was in a very simular situation about 5 years ago, except that I was younger than you and had less money I also was going to Phuket, fortunatly I was still getting paid for nearly 4 months while I was out so it gave me some time to look around and get to know the place and the buissineses in the area without commiting myself.

I looked at lots of things in Phuket and to be honest when you looked at the financial fig's they did'nt look sustainable as everything is lease hold and IMO way overpriced. Renting your house out at least initially is a good idea, it gives you something to go back to if needs be. Do you have any pensions coming out when you are older? Thats got to be a big thing as 100,000 pounds is not a lot for the rest of your life, if it's only got to last till your 60 then you have more of a chance.

It can be done but to be honest the odds are against you especially if you want to stay in Phuket (I doubt that I would still be here if I stuck to staying down there). My advice would be to try and rent out your house, and come out and stay there for a few months, rent an apartment and just live and look around , get to know the place and the buisinesses there. Keep and open mind on what sort of thing you want to do. The failour rate for bars in Patong is huge with many people just lasting out for 1 term of their lease, dont forget if you lease a bar for say 2 million for 3 years, at the end of that time you have to find an other 2 million and so on...ect

Anyway it can be done but the odds seem stacked against you, good luck...you'll need it

RC

[dereklev]

If it's not, and assuming even a modest interest accruing to bump it to 50K/month, a very enjoyable and quite pleasant lifestyle could be his for a lengthy amount of time without the pitfalls of throwing the money away on a bar.

I have to say I have great admiration for all of you who can live an enjoyable and pleasant lifestyle on 50K a month.

I can live well on that amount if I exclude my car repayments, insurance (home, car, health), travel in Thailand, nights out with the boys in Korat, buying spontaneous gifts for my wife and son...etc, etc

But then I guess I would not be having an enjoyable and pleasant life.....

He is only 43 what happens to the poor s*d when he is potless at 58! !

ahhh...the "what to do then" angle IS the only real hangup... as I suppose there's no real answer for that.

As for the other aspects, on 50K one can certainly still travel and have nights out and buy gifts for loved ones...I guess it just depends on whether it's a 5 carat diamond or a dozen roses for the gift selection.

Never mind the "what to do then" angle, he would have died from worrying about his ever diminishing capital long before then.......

I don't buy 5K diamonds but I do often buy flowers....

as do I....

In actuality, I'm more in the camp that recommends renting the house out and living off the proceedings, provided the monthly rent obtained is enough.

btw, at what age can Brits obtain a monthly retirement stipend from the government? I do understand from a few older Brits I know here that it's at a reduced rate compared to what they can draw in the UK and I found that to be rather unsettling.

The problem with renting out is I fear he still has a mortgage to pay and that would take the majority of his rental money. I base this assumption on the fact he says he will have 100, 000 after selling his house.

At present it is 65 to get a pension from the government in UK. I have never heard it is at a reduced rate, but nothing would suprise me with New Labour! !

Sorry Andy but the best advice I can give you is get another job, save like mad, and come here in another 10 years.

[sendbaht]

You have to follow your heart Son. We all have been there in one way or the other. That falling in love thing is a very strong pull. Good luck in what ever you do.

[sua yai]

I came here at 40 - that's knocking on 8 yrs ago - ran a bar for 2.5 years and now do sweet FA. I own a property in central London that I rent out. That's my income, pension etc etc.

It's definitely not easy.

The bar's one thing, but I wouldn't ever expect it to make more than pocket money. Some people are good at it - just don't expect to be so yourself.

My property is rented out at 100,000 Baht a month and I just about make ends meet over a financial year. 16% goes in agent's fees, there's still a small mortgage, there will always be void periods between the tenancies and there's the small matter of maintenence - which dosn't come cheap in the UK.

I could sell tomorrow and net 300,000 pounds, but if I do the sums with

current interest rates, it's a thin line to walk. I too have a wife to support.

I don't mean to dampen your dreams, but believe me, it won't be easy given your set of circumstances. I've been doing it for ages.

[malcolminthemiddle]

At present it is 65 to get a pension from the government in UK. I have never heard it is at a reduced rate, but nothing would suprise me with New Labour! !

<{POST_SNAPBACK}>

My understanding, please feel free to correct.

The full pension amount maybe subject to reduction depending on the level, time and amounts of contributions made.

Also, for a retiree living overseas, (depending on country of residence) the pension is paid at a fixed rate, whereas for a retiree living and drawing their pension in the UK, the pension is subject to incremental increases to offset the effect of inflation and increases in the cost of living.

[thaiflyer1]

Not sure if this post is in the right Forum but what the heck here's my 2 Satangs worth.

I/m 43 (yesterday ) been here in Thailand for over 7 years..........my advice to you would be hang on to your property and consider 6 months here a year and 6 months back at home working .

The way i did it was to build up a property portfolio up to the age of 35 which i now live off.

With 100k you aint going to have enough to last .................i can see you getting to 50+ ok but what then?

At 43 you would need closer to 250k to see you through IMO.

Stick it out for a few more years then consider a permernant move.

Good luck anyway.

[albert dickinson]

I would like to disclose a few facts about pensions from the UK government.I am 81 years of age I have lived in Thailand for the last 10 years. My pension has been frozen since ileft the UK at 58 pounds a week.I am only one of half a million of us world wide who's pensions remain frozen. Albert

[The Dude]

The Dude has read all of the advice given here thus far and would discard a good deal of it. Far and away the sanest, realistic and most solid advice is that of Dereklev. The Dude digs his advice so much that he feels he needs not post his own. I hand out a shovel to the OP to dig this advice also and take heed. On this advice: Learn it, know it, live it. Cheers

Edited December 12, 2005 by The Dude

[sriracha john]

I would like to disclose a few facts about pensions from the UK government.I am 81 years of age I have lived in Thailand for the last 10 years. My pension has been frozen since ileft the UK at 58 pounds a week.I am only one of half a million of us world wide who's pensions remain frozen. Albert

<{POST_SNAPBACK}>

It's a bit disheartening to read it, but thank you for your reply, sir.

I suppose that's what my friend was referring to (the freezing of the rate) as he's been here 14 years and received a "pittance" compared to what he would have received in the UK. I recall his also wondering outloud if there was any sort of organized protest against this discriminating practice, although he finished that by saying, "by God, not likely with those crooked politicians."

Gotta luv the Brits...

[The Dude]

That UKFFF (UK Frozen Funds Factor) is certainly a bum trip. I think investing in a tin cup might be a better option.

[RamdomChances]

The Dude has read all of the advice given here thus far and would discard a good deal of it. Far and away the sanest, realistic and most solid advice is that of Dereklev. The Dude digs his advice so much that he feels he needs not post his own. I hand out a shovel to the OP to dig this advice also and take heed. On this advice: Learn it, know it, live it. Cheers    

<{POST_SNAPBACK}>

Your right it's good sound, sane,safe advice. It's the sort of advice that I would of given myself when I was thinking about coming out here (it's also the advice everyone else gave me), the sort of advice your bank manager would give you for better or worse I did'nt listen though and came anyway and many other people do.

Nothing in life is certian, there are people that have came here with less and made a good life for themselfs, although there are many, many more who have came and lost it all. Some people will take a risk, others want cast iron garenties

Fortunatly I dont have to rely on the UK gov pension, but I still cant touch mine for an other 15 years.

RC

[Gary A]

Unfortunately age 43 is too young to be able to make accurate predictions. Things like inflation, exchange rate and health problems can upset the apple cart. I retired at age 58 and have been extremely lucky here in Thailand. I bought a condo that has appreciated about 35% since I bought it. I found the right lady and now live in her house in Loei province. I am VERY content and live on about 25% of what I could afford to spend. Since I AM a cynic it could all go bad and if it does I have the condo in my name as well as my car. I really think you have to be older than 43 to feel comfortable with your savings and pensions being enough to live comfortably for the rest of your life.

[jing jing]

I really think you have to be older than 43 to feel comfortable with your savings and pensions being enough to live comfortably for the rest of your life.

<{POST_SNAPBACK}>

Either that, or have have a lot more in savings and pensions.

[dereklev]

The Dude has read all of the advice given here thus far and would discard a good deal of it. Far and away the sanest, realistic and most solid advice is that of Dereklev. The Dude digs his advice so much that he feels he needs not post his own. I hand out a shovel to the OP to dig this advice also and take heed. On this advice: Learn it, know it, live it. Cheers    

Your right it's good sound, sane,safe advice. It's the sort of advice that I would of given myself when I was thinking about coming out here (it's also the advice everyone else gave me), the sort of advice your bank manager would give you for better or worse I did'nt listen though and came anyway and many other people do.

Nothing in life is certian, there are people that have came here with less and made a good life for themselfs, although there are many, many more who have came and lost it all. Some people will take a risk, others want cast iron garenties

Fortunatly I dont have to rely on the UK gov pension, but I still cant touch mine for an other 15 years.

RC

Thanks The Dude, I 100% do not think that someone aged 43 can sell their home in the UK be left with 100,000 pounds and expect to live a good life out here on the proceeds.

Random sure my advice is not to everyones liking but by the time th OP had blown his money he would be homeless and with very little chance of employment back home in the UK! !

By the way Random did I come across to you as a Bank Manager when we met at Richard's (Cheeky Farang) party.......

[Noel]

I would like to disclose a few facts about pensions from the UK government.I am 81 years of age I have lived in Thailand for the last 10 years. My pension has been frozen since ileft the UK at 58 pounds a week.I am only one of half a million of us world wide who's pensions remain frozen. Albert

<{POST_SNAPBACK}>

I believe the UK Pensions Commission recently voiced a proposed gradual rise in the pension age to 68, possibly 69.

People seem to be selfishly living too long...

Edit: That remark is not directed at you Albert in any way, I am commenting on the con the British government has perpetrated on people who thought their contributions were 'invested' for their future retirement needs.

That has never been the case as pension payments have always been made from new contributions and any surplus spent on whatever. The problem now is that new contributions cannot match the outgoings.

Also, to penalize people living abroad by freezing their pension is scandalous in my view.

Edited December 12, 2005 by Noel