Retirement At 30

[TommoPhysicist]

sounds good income from investement though ,If you can get them all rented out 12 months per year ..........

You could rent some out just as storage rooms, to high rollers who want to stay in CM in expensive apts. for 6 months a year.

Or to Uni. students, or to the poorer expats.

[barefoot1988]

4 million baht savings at the age of 29. unless its a inheritance or lottery prize there is nothing to worry about him for the later years. if he is able to achieve that amount of savings, he would be wise enough

simple enough to do some basic research and live off stocks dividends

[wana]

i know someone who came over from europe ,also had a small amount of cash initially

bought a guesthouse and a few scooters to rent to tourists

sells snacks + drinks as well

not richie rich but not poor either

as long as you dont start drinking in expat bars from about lunchtime everyday and get into the old rut

that many fall into in thailand its possible to live quite reasonably on a smaller sum than most retirees

[geriatrickid]

I came here much younger and with much less. I say let him try. What he thinks he wants right now and what he might want in a couple of years is anyones guess.

You guys are thinking like old men. The guy is young enough to make a few more mistakes along the way and recover from them all. I don’t think we should stomp on his dream.

Granted it was a very different time but my dream came true. Perhaps his will as well.

Some people are better able to cope under limited asset circumstances. You could, and I cannot. I don't want to worry or to take jobs that are unpalatable. This kid sounds like the type that ends up pushing the vacation rentals or working in a boiler room. Suggesting that the fellow finds a job sounds nice, but the number of legal jobs available to foreigners are limited. Unless he's professionally qualified, he's got limited job prospects,

. Some folks will get by on 15K and others will need 200K per month. If this chap meets a girl an decides to have a family he will have to ask his g/f to go work the bars and to also beg with the kids on the BTS overpass at Asoke. (Don't try it on Rat U in Patong as the limbless beggers and Cambodians with their rent a babies are protective of their turf.}

No decent woman is going to cast her lot in with a guy living at a subsistence level.

BTW did you know that a small bag of Royal Canin dog food costs 500B. My friend spends 1000 baht a month on his dogs.

How can one live in a world without a dog?

Not criticizing you, and I rather admire your ability to have succeeded. I might have, but I doubt I'd be as happy and stable as you. I'd have been stressing out 24/7. I'm more terrified of poverty than i am of death. (I'm also terrified of upsetting the broomstick rider, but that's for a different thread. )

Edited April 16, 2012 by geriatrickid

[TommoPhysicist]

No decent woman is going to cast her lot in with a guy living at a subsistence level.

Your idea of subsistence level is not a Thais idea of subsistence level.

My wife and I (and kids) do very well on my pension of 10kbht a month, and the produce from her 25rai farm.

She is certainly a decent woman, and she still entered into an arranged marriage with me, happy to join/share our relatively small finances.

[chrisinth]

I would say it depends if he is indeed retiring to Thailand or simply moving to Thailand. If he is retiring (not working), where would he be living? If he plans to live in Bkk, Pattaya, etc, etc, then no, 4 million wouldn't be enough.

Still, he is young enough to have so many options available to him, why not give it a go? He can always readust his plans at a later stage.

[Time Traveller]

If you can show me right now where i can get 200,000thb per year from a low risk 4mil baht investment ill take that low risk as well as many others i know . 4mil is only about 130k usd so that would end up being about a stable 5%, you get me a stable easy 5% and ill have alot more than 130k to invest in that...

There are quite a few stocks in the SET50 index that pay dividends of 5% or more per year. As long as you have no urgency to sell the shares, then you can be pretty confident of reliable long term return of that much. In fact, if you are a tax resident in Thailand you would only need dividend yields of 4% return (since most dividend paying companies have tax credits and these can be claimed back via annual tax filing) giving 200k from 4mill invested once tax return is included.

[joey88tc]

I think it would be a great idea to retire that early......depends alot on his maturity.......he also needs to pay more into social security.....I would like for him to see some type of guranteed money coming in every month (you will all have diffent amounts in mind)....maybee risk half on a business adventure..or buy a small condo in his homeland... in my area of the usa a condo bought at 130k will net you at least 900 us a month ...............the possibilities are endless ...but i wish him the best of luck.......

[mjj]

4million......never, unless they want to live poor. As we all know you can live in Thailand very cheaply, but its things like buying somewhere to live, buying and running a car, kids education and health insurances that will eat that money quicker than it will grow.

It may sound like a god idea to retire at that age, but my guess is that they wil get very bored of living like a pauper after a while.

[TommoPhysicist]

4million......never, unless they want to live poor. As we all know you can live in Thailand very cheaply, but its things like buying somewhere to live, buying and running a car, kids education and health insurances that will eat that money quicker than it will grow.

Find a woman who already owns a house, move in, cheap as chips.

You don't need a car, you don't need private schools, health insurance is for wimps.

(although to be honest, private health care is Thailand is often cheaper than in the UK where health care is supposedly free. Once you factor in the little extras like car parking fees and prescription charges)

[Berkshire]

There are loads of ways to stay in Thailand legally, and with not much inconveniece.

Please do tell. Additional information is... all are well under 50, single (or married to non Thai), not working and not in education.

Well, it's simple really.

Sincere request for details and examples please.

And I understand that the meaning of "legally" is somewhat flexible here, I imagine notmyself is being rather more strict in his interpretation.

I honestly wasn't trying to be a smartass when responding to this guy's inquiry, but it seems he'd already done some checking on his own. Thailand provides a number of ways to stay legally, from student visas, to work permits, to retirement visas, to investments related to job-creation, to marriage visas, etc. If after all that, one still can't find a legal way to stay, then it's time to go. That's what I meant by it being rather "simple."

[Berkshire]

I came here much younger and with much less. I say let him try. What he thinks he wants right now and what he might want in a couple of years is anyones guess.

You guys are thinking like old men. The guy is young enough to make a few more mistakes along the way and recover from them all. I don’t think we should stomp on his dream.

Granted it was a very different time but my dream came true. Perhaps his will as well.

Not criticizing you, and I rather admire your ability to have succeeded. I might have, but I doubt I'd be as happy and stable as you. I'd have been stressing out 24/7. I'm more terrified of poverty than i am of death. (I'm also terrified of upsetting the broomstick rider, but that's for a different thread. )

I agree with you, GK, it's certainly better to plan ahead in hindsight, especially in a place like Thailand. I'd never have come to Thailand if I wasn't already financially secure. 4 mil baht is not financially secure if that's all you've got. Although VF also has a point, that "the guy is young enough to make a few more mistakes along the way and recover," well maybe not. There are mistakes and then there are MISTAKES. If the kid really believes in his mind that 4 mil baht is a lot for Thailand, he's going to blow through half of it in the first year before he even realizes it. Heck, just a nice new car will set you back about a mil. And if he really intends on retiring, what's he going to do every day? Spend money, of course. And if he meets a savvy BG with the mindset that he wants to impress her with his riches...well, he'll learn what many before him have learned and the hard way.

[sandgroper2]

I have gotten along just fine without health insurance, pension or other government handouts. For more than 35 years I have listened to Chicken Little saying the sky is falling. Thailand is still here, I am still here and life is good. Let the guy enjoy this phase of his life before he moves on to the next. I guarantee there will be a next phase.

No health insurance? Who is going to pay when, you need to have your legs saved after the motor bike accident, the heart attack,the slipped disc,the detached retina etc etc etc? Crazy.

[wana]

I have gotten along just fine without health insurance, pension or other government handouts. For more than 35 years I have listened to Chicken Little saying the sky is falling. Thailand is still here, I am still here and life is good. Let the guy enjoy this phase of his life before he moves on to the next. I guarantee there will be a next phase.

No health insurance? Who is going to pay when, you need to have your legs saved after the motor bike accident, the heart attack,the slipped disc,the detached retina etc etc etc? Crazy.

you can go to a govt hospital like 90% of thai people .........

[exeter]

Tell to him acrue more funds and think again when he is 50! The only way you can retire at 30 is if you have an inhertance or you win the lottery or similar.

[sandgroper2]

I have gotten along just fine without health insurance, pension or other government handouts. For more than 35 years I have listened to Chicken Little saying the sky is falling. Thailand is still here, I am still here and life is good. Let the guy enjoy this phase of his life before he moves on to the next. I guarantee there will be a next phase.

No health insurance? Who is going to pay when, you need to have your legs saved after the motor bike accident, the heart attack,the slipped disc,the detached retina etc etc etc? Crazy.

you can go to a govt hospital like 90% of thai people .........

Ive had two eye operations, detached retina, and a back operation ,Bangkok Pattaya Hospital and Rutnin Eye Clinic. Over 400.000 bt, paid by ins. Trust anyone other medical centre, NEVER.

[wana]

I have gotten along just fine without health insurance, pension or other government handouts. For more than 35 years I have listened to Chicken Little saying the sky is falling. Thailand is still here, I am still here and life is good. Let the guy enjoy this phase of his life before he moves on to the next. I guarantee there will be a next phase.

No health insurance? Who is going to pay when, you need to have your legs saved after the motor bike accident, the heart attack,the slipped disc,the detached retina etc etc etc? Crazy.

you can go to a govt hospital like 90% of thai people .........

Ive had two eye operations, detached retina, and a back operation ,Bangkok Pattaya Hospital and Rutnin Eye Clinic. Over 400.000 bt, paid by ins. Trust anyone other medical centre, NEVER.

im not saying you shouldnt have insurance but thai people have eyes and backs and retinas also

how much do you pay yearly for this kind of insurance ?

[sandgroper2]

I pay $1200 PA for travel insurance, Travelmore , travel insurance.

[mjj]

Luckily I have not needed to go to hospital in Thailand, but my initial thoughts were to go to a govt hospital. However, of the Thai's that I've met, if they can find the money to go private, they do. Now I don't mean hi-so Thai's, but poor by our standards. They say govt hospital have poor care and poor medication, I dont know, but it makes me think twice about going to a govt hospital. And that fear alone means my family will never go to a govt hospital.

[wana]

I pay $1200 PA for travel insurance, Travelmore , travel insurance.

circa 37,000thb ,seems reasonable enough

does it include visiting doctors for minor sickness or just serious accidents ?

[Orac]

I pay $1200 PA for travel insurance, Travelmore , travel insurance.

circa 37,000thb ,seems reasonable enough

does it include visiting doctors for minor sickness or just serious accidents ?

More importantly is it travel insurance or health insurance???

[KNJ]

29 years old and already has 130kUSD cash. Does not sound too much like a fool to me.

The OP never mentioned if he had additional income from working, trust other investments, so all of this back and forth do it dont do it is financial advice without understanding his entire financial situation.Further information is required.

If he can amass 130 kUSD at his age, and I ask how many of you had that at 29 ( cash not tied in property, pensions, investments ) then he is doing well.

130kUSD is sufficient to invest and grow.

If on the other hand that is all he has and he expects to sit on a beach forever, then it will be a big struggle, if not impossible. never the less a great adventure, and he could make it last a few years

[geriatrickid]

im not saying you shouldnt have insurance but thai people have eyes and backs and retinas also

how much do you pay yearly for this kind of insurance ?

Yes, they do and they have more complications and post op infections as public hospitals are understaffed, poorly equipped and crowded.

They also have long waiting lists.

None of my Thai friends will go near a public hospital.

[Berkshire]

29 years old and already has 130kUSD cash. Does not sound too much like a fool to me.

The OP never mentioned if he had additional income from working, trust other investments, so all of this back and forth do it dont do it is financial advice without understanding his entire financial situation.Further information is required.

If he can amass 130 kUSD at his age, and I ask how many of you had that at 29 ( cash not tied in property, pensions, investments ) then he is doing well.

130kUSD is sufficient to invest and grow.

If on the other hand that is all he has and he expects to sit on a beach forever, then it will be a big struggle, if not impossible. never the less a great adventure, and he could make it last a few years

I'd bet it was an inheritance. But you're right, we don't know.

[villagefarang]

I have known several people over the years who like me, rejected the conventions others tried to impose upon them. We struck out in directions that others assured were fraught with danger and uncertainty.

Some may call me lucky or say I am blessed with good genes. While that might be true, I also seem to have better judgement and make fewer bad choices than those around me.

I don’t know this guy or his potential. He may crash and burn in the first year. If he does he will have learned some valuable life lessons. Perhaps he is one of those unlucky souls who struggle through life regardless of their best efforts. At least he will have given himself a chance to live a more interesting life.

Maybe, just maybe, he will sprout wings and learn to fly high above those individuals who hug the ground and fear their shadow.

Edited April 17, 2012 by villagefarang

[topt]

II don’t know this guy or his potential. He may crash and burn in the first year. If he does he will have learned some valuable life lessons. Perhaps he is one of those unlucky souls who struggle through life regardless of their best efforts. At least he will have given himself a chance to live a more interesting life.

Maybe, just maybe, he will sprout wings and learn to fly high above those individuals who hug the ground and fear their shadow.

Icarus.....

OP - was this a rhetorical question or is there actually a real person/situation? Just curious....

[space9000]

silly billy..i say.i think he has discovered this beautiful country to early..at 30 and with 4million bht.buy 2 condos rent and keep coming on holidays and see in 5yrs time...good luck to anyone...what ever his or her age....to the land of smiles :-) ka

[maxme]

29 years old and already has 130kUSD cash. Does not sound too much like a fool to me.

The OP never mentioned if he had additional income from working, trust other investments, so all of this back and forth do it dont do it is financial advice without understanding his entire financial situation.Further information is required.

If he can amass 130 kUSD at his age, and I ask how many of you had that at 29 ( cash not tied in property, pensions, investments ) then he is doing well.

130kUSD is sufficient to invest and grow.

If on the other hand that is all he has and he expects to sit on a beach forever, then it will be a big struggle, if not impossible. never the less a great adventure, and he could make it last a few years

I'd bet it was an inheritance. But you're right, we don't know.

If he has experience with Asian business I wouldn't call him foolhardy but if he doesn't I would call him daring. To achieve anything U need to take certain risks but if he is like me, he already has a backup plan and some reserve money. Otherwise I would wish him the best of luck.

[wana]

II don’t know this guy or his potential. He may crash and burn in the first year. If he does he will have learned some valuable life lessons. Perhaps he is one of those unlucky souls who struggle through life regardless of their best efforts. At least he will have given himself a chance to live a more interesting life.

Maybe, just maybe, he will sprout wings and learn to fly high above those individuals who hug the ground and fear their shadow.

Icarus.....

OP - was this a rhetorical question or is there actually a real person/situation? Just curious....

sorry ,just to update

this is a real person and i have spoken to him again since the thread was started in more depth about his plans

1. He is 29 years old

2.Currently in BKK searching acomodation to stay in or a year or more and a school to learn thai + acquire visa

3.He was a self employed designer + acquired the cash from saved wages (not a win on lottery )or inheritance like everyone thought

4.He is thinking about options to work here (not intending to spend life on beach or in a bar etc )

everyone comes with good intentions though ,and most will blow way more money than they anticipated on stuff like girls and drinks and partying .....

i know i did !

[strollling]

4.He is thinking about options to work here

So he isn't thinking of retiring, he thinking of moving to Thailand.

And he's looking at moving to BKK for a year to study Thai? How much of his capital is going to be left after that? I doubt that investing it overseas for 6% is going to go too far at 16,000thb.

Sounds like the guy's in dreamland.