Is $Us2 Million Enough To Retire In Thailand, At Age 40?

[jacktrip]

Haven't ( and not going to ) read all the pages, but unless someone else mentioned it already, how does a 40 y o RETIRE in Thailand. Doesn't qualify for non O and as won't be working a B visa?

Easy, get double entry visas until they say no. After that get one year ed visas which cost about 25k baht a year. At 50 you can't get the ed visa anymore, so you will need a minimum amount in the bank to get the retirement visa, so save your money.

Why do people keep asking this question? It's pretty simple.

[GreenSnapper]

Haven't ( and not going to ) read all the pages, but unless someone else mentioned it already, how does a 40 y o RETIRE in Thailand. Doesn't qualify for non O and as won't be working a B visa?

Easy, get double entry visas until they say no. After that get one year ed visas which cost about 25k baht a year. At 50 you can't get the ed visa anymore, so you will need a minimum amount in the bank to get the retirement visa, so save your money.

Why do people keep asking this question? It's pretty simple.

It's possible. But personally I wouldn't want to be on permanent visa runs for 10 years and the uncertainty which comes with it.

The OP may consider Malaysia, MM2H program. Independent on age, you just need to have some dosh. It is a proper visa, unlike the Thai "extension of stay".

[meatballs]

Haven't ( and not going to ) read all the pages, but unless someone else mentioned it already, how does a 40 y o RETIRE in Thailand. Doesn't qualify for non O and as won't be working a B visa?

So many people here are under 50 and live here. They always find a way.

[rstvictim2]

Easily yes.

However at 40 I would put a large portion into higher risk investments. 40 is too young to go too safe.

Just be sure that none of those high risk investments are marketed by Richard Cayne / Meyer International or Gregory Pitt / Man Investments / Mackenzie Smith Law.

[fletchsmile]

And if you do get married have kids and want the international schools and western life then your 2 million us$ will be ok but dont expect that ot last with BMW's or mercs it wont.

Just IMO of course others will say im talking crap

is this from personal experience ? how much are international schools there?

THB 300k/ USD 10k a year upwards depending on school and child's age, starting say at elementary level. You can easily double that and more for a high school 16-18 year old in one of the top schools. Or you can get the snip for THB 15k/ USD 500 at a top hospital

Overseas university in say UK or US for 3 years or so you'd be lucky to get much change out of USD 100k

[midasthailand]

Thailand visa issue would be a major headache for you at under 50.

The other two, yes you could do but I don't think they lead to permanent residence.

If I were you at your age I would strongly consider countries that offer permanent residence. These may be mostly in South America. Also Ecuador and Argentina. Columbia is up and coming and real estate you buy there would probably be golden long term but I don't understand their visa issues.

Last time I looked, Ecuador, Argentina and Colombia were all in South America!!

[ggold]

I'm sorry, But I have to wonder if this is a serious post by the OP? I wonder if the OP earned the money or won it, or indeed if he really has $2mln. Because If with that amount of money he has to come on TV to ask if it is enough to retire on from the age of 40, is in my opinion dumb.

Think about it!

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[mikekim1219]

I'm sorry, But I have to wonder if this is a serious post by the OP? I wonder if the OP earned the money or won it, or indeed if he really has $2mln. Because If with that amount of money he has to come on TV to ask if it is enough to retire on from the age of 40, is in my opinion dumb.

Think about it!

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I concur. But it sure keeps imaginations run wild..

[Chittychangchang]

Happy Days

[lawman3966]

I'm sorry, But I have to wonder if this is a serious post by the OP? I wonder if the OP earned the money or won it, or indeed if he really has $2mln. Because If with that amount of money he has to come on TV to ask if it is enough to retire on from the age of 40, is in my opinion dumb.

Think about it!

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I'm not sure why it's dumb. A rough calculation of the inflation-adjusted income one could draw from $ 2 mill for the remaining lifespan starting at age 40 could well be from $40K to $45K per year. (I divided $ 2 million by 45 to 50 years, which yields results close to what the inflation-indexed annuity calculators show).

It may well be obvious that one could live on $40K a year as a single adult. However, if the OP ever has a family and wants to send kids to private school, this nest egg may be just reasonable, and not at all excessive. Some would even say that it's insufficient if he plans to have a family and live in style.

Estimates of lump sums needed for retirement vary widely. Some sources would advocate having over $ 2 million even if retiring at 50 or 55 (leaving Social security out of the calculation). At age 40, $ 2 million is not as great as it seems. Moreover, as others have noted, Thailand is likely to experience higher inflation than the developed countries will, in the next 20 years, thereby eating into the initial lump sum even more. There is a whole body of research directed to what is called the "safe withdrawal rate" during retirement, and guys with Ph.Ds in Finance can't agree on the numbers. A long held belief was that one could safely withdraw 4% from a lump sum over 30 year retirement period. However, more recent papers have suggested much lower withdrawal rates, with one researcher recommending a withdrawal rate of 2% or so over retirement periods of only 30 years. The OP needs to prepare for the possibility of a period longer than 30 years. Accordingly, the answer is not simple at all.

[WebBangkok]

Not sure that would be enough.

As a lot of TV members here will say you can not survive on a western lifestyle under 500K a month which most of them earn.

So if you not making 15K USD a month, you can not.

[WinnieTheKhwai]

US$2mil in the bank is enough to retire anywhere, including the USA. Why are we debating this again?

[Naam]

US$2mil in the bank is enough to retire anywhere, including the USA. Why are we debating this again?

because there are clowns who come up with "annui-YUCK-ties, with-bla-bla-drawal, not-yada-yada-enough and should-be-yakety-yak-at-least..."

investing 2 million dollars in a variety of bonds rated from A to BB- and a bunch of dividend stocks should rake in not less than 6% p.a., id est USD10k/THB>300k/month. spend 150k, reinvest 150k and never draw a penny from your capital to make the heirs happy. period!

of course the situation changes with children attending private schools. but then one should not retire in Thailand.

[Naam]

I'm not sure why it's dumb. A rough calculation of the inflation-adjusted income one could draw from $ 2 mill for the remaining lifespan starting at age 40 could well be from $40K to $45K per year. (I divided $ 2 million by 45 to 50 years, which yields results close to what the inflation-indexed annuity calculators show).

dumb² is thinking of withdrawing from the capital!

[thaibeachlovers]

US$2mil in the bank is enough to retire anywhere, including the USA. Why are we debating this again?

because there are clowns who come up with "annui-YUCK-ties, with-bla-bla-drawal, not-yada-yada-enough and should-be-yakety-yak-at-least..."

investing 2 million dollars in a variety of bonds rated from A to BB- and a bunch of dividend stocks should rake in not less than 6% p.a., id est USD10k/THB>300k/month. spend 150k, reinvest 150k and never draw a penny from your capital to make the heirs happy. period!

of course the situation changes with children attending private schools. but then one should not retire in Thailand.

Are you saying that one should not retire in LOS with children, or is it just the schools that you consider deficient?

What about sending them to boarding school back home?

[krisb]

Plenty if you dont rent jetskis everyday

[Naam]

US$2mil in the bank is enough to retire anywhere, including the USA. Why are we debating this again?

because there are clowns who come up with "annui-YUCK-ties, with-bla-bla-drawal, not-yada-yada-enough and should-be-yakety-yak-at-least..."

investing 2 million dollars in a variety of bonds rated from A to BB- and a bunch of dividend stocks should rake in not less than 6% p.a., id est USD10k/THB>300k/month. spend 150k, reinvest 150k and never draw a penny from your capital to make the heirs happy. period!

of course the situation changes with children attending private schools. but then one should not retire in Thailand.

Are you saying that one should not retire in LOS with children, or is it just the schools that you consider deficient?

What about sending them to boarding school back home?

i'm saying that an excellent basic education in a private school in Thailand costs a big bundle. if you can afford it... why not? what i know is that the majority of expats in Thailand can't afford it.

[WebBangkok]

wow really? I thought living on western lifestyles here earning a min 500,000 baht per month, you can send your kids to the top schools easily

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[Naam]

wow really? I thought living on western lifestyles here earning a min 500,000 baht per month, you can send your kids to the top schools easily

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what percentage of expats in Thailand has an income of THB 500k a month?

sent from the Gamma Quadrant on encrypted modulated subspace wave.

[jacktrip]

wow really? I thought living on western lifestyles here earning a min 500,000 baht per month, you can send your kids to the top schools easily

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what percentage of expats in Thailand has an income of THB 500k a month?

sent from the Gamma Quadrant on encrypted modulated subspace wave.

or with 42 million?

[meand]

Is 2 million enough to retire? Who are you? The answer is YES! Take half of it and shove it up your ass, and you'd still have plenty.

[Naam]

Is 2 million enough to retire? Who are you? The answer is YES! Take half of it and shove it up your ass, and you'd still have plenty.

may i assume you don't have "plenty"?

[Penefattore]

However, this is clearly a fantasy on your part. I say this because no serious individual with assets in the 7 figures would be soliciting financial advice from a forum. They would be consulting with their accountant or financial advisor.

Those who do don't stay rich for long

[thaibeachlovers]

For normal people, yes, as long as you don't do anything too stupid. Not enough for the 1 percenters who I'm sure will be showing up shortly to explain how how it's not enough to cover even the basic necessities.

I think if you had that kind of money you would be smart enough to answer that question for yourself!

That said, I'll entertain you!

Buy a small apartment building in a major city in your home country (I'm talking 4 or so apartments). The rent roll on a $2 million building will give you around $8,000/month. Hire a building management company to run things for you (they generally take 15% of the rent roll and handle everything related to payment collection, finding tenants, etc.). That should give you steady net income of around $5,000/month ($60,000/year).

Property in a major city generally appreciates at around 6%/year. You can sell anytime and recover your initial principle + any compounded return on the asset.

However, this is clearly a fantasy on your part. I say this because no serious individual with assets in the 7 figures would be soliciting financial advice from a forum. They would be consulting with their accountant or financial advisor.

You sir are a charlatan!

Hmmmm. How many accountants or financial advisors in the early 2000's were advising to buy subprime or invest in Bernie Maidoff's scheme?

[BEENTHEREDONETHAT]

IMHO, its enough. I know you talk about $US2M, but an Oz resident could get 5% bank interest right now at zero risk on $2M (ie $100k per annum) and only have to pay 10% tax as a non resident for tax purposes if living in Thailand (ie end up with $90k per annum after tax). That's less tax than you would pay if you lived in Australia, and you could still live comfortably on that in Oz (let alone Thailand) even with the higher tax rate (most people in fact do, as the average wage is less than this).

where are you getting this 10% tax rate for non resident? the 100k interest would only end up being $66600 after paying tax as a non resident in Australia, see ATO Website

I have an Australian bank account and only pay 10% tax on the earnings. It is automatically deducted at maturity. If 10% is too much go to New Zealand and only pay 2% for handling no tax if you live outside of the country. Interest rates similar to Australia +-.

[irishken]

just living on the interest alone at about 3.2 % would give you about 160000 baht a month.if thats not enough for anyone they dont deserve it

[poanoi]

For a modest fee of 10.000 baht/month i can set you up with

visa, living the party life, avoid pitfalls etc,

i think 2 month would be enough for introduction in pattaya party life

at a sustainable cost of less than 60.000,

tho depending on just how much of a luxury condo you need.