Farang Giving Up All To Come And Live In Pattaya

[meatballs]

I think at your age you are looking at min 30 million baht in savings and investments to guarantee a good retirement income preferably around 40 million.

Just to make sure I understand, are you saying that approx $1.3 million in US Dollars would be needed?

Thanks.

Sure if you want to live a good life in Thailand you would need something like this.

30k a month just doesnt cut it neither does living in a bedsit for the rest of your life and chasing happy hours at gogos.

What sort of life is that?

Why come to Thailand to live a dogs life?

Most people I know live in a reasonably nice house or apartment and drive a car. Why wouldnt you expect to live the same in Thailand?

I would also expect to have a few trips a year to different countries. You would need medical insurance and then if you have any dependents you would obviously need to support them eg wife, kids, girlfriend.

Further you need to hedge against inflation and currency flucuations to preserve your capital.

Given at 48 you might live another 30 odd years even at 30-40million baht you would still need to be very prudent.

Actually I would rather live like a dog than go back home.

[Tolley]

Given at 48 you might live another 30 odd years even at 30-40million baht you would still need to be very prudent.

You forgot that he get a pension at 65, so it is a matter of 17 years.

And you estimate that he have to live prudent on 2.35 million baht per year,

which translates into just under 200.000 baht per month.

That is also under the assumption that those money generates nothing,

i.e that he wouldn't even get bank interest.

Well guess what, he doesn't even make that money in UK,

where it is more expensive to exist,

so the sooner he get out of there, the more money he save.

Try apply math in your guesstimate's before giving 'advice'

Firstly you are assuming that the pension will still be available in 20 years and secondly that it will keep pace with inflation.

I wouldnt want to bank on that at all. The pension age is also rising all the time.

Further in 20 years time how expensive do you think thailand might be?

Then you assume that you should eat into your capital. That is a major mistake. In fact any retirement planning includes saving a portion of your investment income to hedge against inflation.

Lastly you need to consider potential health costs in a foreign country which can be quite horrendous as you age.

You have clearly shown by your post that you are financially illiterate when it comes to retirement planning.

You can live a fine lifestyle in Thailand on 500k a year,

Enough to support a MIL, wife and two children if you want.

Enough to take a different woman home every other night, if that is your wish.

13M bht in a Thai bank can generate that much income at the current 3.3%.

(or 10M bht in an Australian bank account at 5.3%)

(That's 200-250kUKP)

If you want to make random assumptions about the future, why not assume you will be dead in a m/c accident within 10 years or everyone will be dead due to plague or nuclear war ............ at some time in your life, you have to decide you have enough money, or do nothing forever.

Hedge against poor health/inflation/currency exchange rates/war with Cambodia ..... I'm surprised some people ever get up enough courage to cross a road, really.

Your post perfectly illustrates why the majority of people live a meagre existence in their old age because they didnt understant how to plan finacially for their retirement.

As for living well on 500k baht a year roughly a bit over 40k baht a month that has to be a joke yeah.

[Spalpeen]

So under assumption you are 48 and pension kicks in at 65,that is 30.000*12month*17years = 6.12 million baht

assuming of course there is a state pension to hand out when he hits 65..

State pension? He's from Ireland. There may not even be a state in 20 years time !

[CHRISTIANa9]

As for living well on 500k baht a year roughly a bit over 40k baht a month that has to be a joke yeah.

This I agree. More like you need B1M annually.

[TommoPhysicist]

As for living well on 500k baht a year roughly a bit over 40k baht a month that has to be a joke yeah.

I'm living quite well on 10k a month, but then I am married to a woman who owns a farm which we work together.

Not everyone insists in living in a five star hotel in Pattaya, with a woman that owns nothing, you know.

If I actually make it to UK retirement age, in about ten years, our cash income will be quadrupled.

Edited September 2, 2012 by TommoPhysicist

[hotandhumid]

As for living well on 500k baht a year roughly a bit over 40k baht a month that has to be a joke yeah.

This I agree. More like you need B1M annually.

More like 1.5mil.

[Phil Conners]

Lots of expats manage a reasonable lifestyle on 30k per month. It is really up to the individual what kind of a lifestyle you expect. Of course it's possible to burn a lot more than that if you expect a luxury home, a luxury car, going to expensive restaurants daily and party in walking street nightly, but you don't have to live a boring life just because you don't do all that.

[tropo]

fast forward about 5-7 years:

your a fat old geezer, warming a bar stool every night, and drinking yourself into oblivion, and leering at those pretty butts.

Not everyone turns into an alcoholic in Thailand, though at places like Pattaya the chance is a lot higher then elsewhere.

I don't know about that. I think boring towns where there's nothing to do are more likely to turn people into alcoholics.

[tropo]

. Go for the ED visa. It makes life so simple. Explore other cities in Thai and around Asia. Saigon, Singapore, and Philippines are all close and interesting.

That would be the worst visa choice for 6 months or to bridge the gap from 48 to 50. He's be stuck doing lessons making travel problematic.

A double entry tourist visa is the way to go. Getting 3 of those shouldn't be a problem. An Ed visa would be the standby if all others fail.

[gk10002000]

You say you have a "Wedge of Savings". Do you make any money? Do you earn interest, own dividend paying stocks, bonds, etc? Just having savings and drawing down on them often leads to bad situations. Enjoy 5 years maybe 10 then be 60 and broke with no way to earn significant money? Tread carefully on giving everything up. Do come and check the place out and spend more than 30 days. See if you want to be a burned out drunk hanging out at the bottom of Pattaya Klang. See if you can keep a fitness regimen up and eat decently. Get a feel for how much money and monthly and yearly expenses you will really have. Consider all the issues, health insurance, ties back home, banking, Identification cards (varies from country to country what you need or can keep). Keeping a US Passport residence out of country are doable, but then you don't have a US Driver's license. Do think about older age and retirement.

I personally am taking the middle road at the moment. Working and vacationing. I could punch out, and every month is getting better, but it doesn't take much to wipe things out with one or two bad events. I prefer working a little bit and next year will cut back my contracting hours a bit. Don't get short sighted. Think 5 years down the road, then jump to 20.

[tropo]

Don't get short sighted. Think 5 years down the road, then jump to 20.

There's a lot to be said for living in the present too.

You must have a very depressing existence with such clear vision of the future. Have you planned your funeral yet?

[gerry53]

Don't get short sighted. Think 5 years down the road, then jump to 20.

There's a lot to be said for living in the present too.

You must have a very depressing existence with such clear vision of the future. Have you planned your funeral yet?

Obviously a sharp tongue, large ego and too much time on ones hands makes some go overboard on their responses?

Edited September 2, 2012 by gerry53

[hotandhumid]

Lots of expats manage a reasonable lifestyle on 30k per month. It is really up to the individual what kind of a lifestyle you expect. Of course it's possible to burn a lot more than that if you expect a luxury home, a luxury car, going to expensive restaurants daily and party in walking street nightly, but you don't have to live a boring life just because you don't do all that.

Single, lonely men who eat noodles every day and live in a shoebox, then maybe, yes. Otherwise that is totally impossible.

[Tolley]

Don't get short sighted. Think 5 years down the road, then jump to 20.

There's a lot to be said for living in the present too.

You must have a very depressing existence with such clear vision of the future. Have you planned your funeral yet?

Silly comment really.

Since when does making sensible forward planning for retirement preclude one from enjoying living in the present?

In fact I would say quite the opposite. If you plan well you will probably be more content with your life.

[Phronesis]

. Go for the ED visa. It makes life so simple. Explore other cities in Thai and around Asia. Saigon, Singapore, and Philippines are all close and interesting.

That would be the worst visa choice for 6 months or to bridge the gap from 48 to 50. He's be stuck doing lessons making travel problematic.

A double entry tourist visa is the way to go. Getting 3 of those shouldn't be a problem. An Ed visa would be the standby if all others fail.

Not true... The Ed visa is the best, cheapest, and most convenient option.

The Ed visa avoids the cost and inconvenience of visa runs and the risk of a "no further toursit visas" stamp in your passport. And a number of schools now offer classes via skype. Live where you want, travel where you want, just log on to do your lessons.

[Phil Conners]

Definitely not a bad idea to learn Thai if you intend to live here. I tried, but just don't have the patience for it

[tropo]

Don't get short sighted. Think 5 years down the road, then jump to 20.

There's a lot to be said for living in the present too.

You must have a very depressing existence with such clear vision of the future. Have you planned your funeral yet?

Silly comment really.

Since when does making sensible forward planning for retirement preclude one from enjoying living in the present?

In fact I would say quite the opposite. If you plan well you will probably be more content with your life.

There's nothing silly about it - Just different philosophies on life.

Most people who aren't obsessed with the future are happier and more content in the present because that's all they have.

Edited September 3, 2012 by tropo

[hotandhumid]

Definitely not a bad idea to learn Thai if you intend to live here. I tried, but just don't have the patience for it

The other that put me off too was that most Thais laugh at you when you start speaking Thai.

[tropo]

Don't get short sighted. Think 5 years down the road, then jump to 20.

There's a lot to be said for living in the present too.

You must have a very depressing existence with such clear vision of the future. Have you planned your funeral yet?

Obviously a sharp tongue, large ego and too much time on ones hands makes some go overboard on their responses?

Who's going overboard?

You don't agree with another's philosophy, so you flame them instead.

That's a bit lame.

[Tolley]

Don't get short sighted. Think 5 years down the road, then jump to 20.

There's a lot to be said for living in the present too.

You must have a very depressing existence with such clear vision of the future. Have you planned your funeral yet?

Silly comment really.

Since when does making sensible forward planning for retirement preclude one from enjoying living in the present?

In fact I would say quite the opposite. If you plan well you will probably be more content with your life.

There's nothing silly about it - Just different philosophies on life.

Most people who aren't obsessed with the future are happier and more content in the present because that's all they have.

Just because you plan for the future doesnt mean you are obsessed with the future. In fact part of living in the present entails planning for the future.

Whether it be saving for a house, studying for degree, training for a better physique etc what we do in the present affects our future. That doesnt mean we dont enjoy the journey.

A life without purpose or direction is rather meaningless isnt it?

[McMagus]

OK, So all the Pattaya expats will flame me but here goes. I worked in Pattaya for 6 months but couldn't wait to transfer out to Bangkok; why? The last straw was one Sunday morning, early, as I drove to get some milk, A half naked woman jumped out almost in front of the car near the Dolphin roundabout, shouting something at me I couldn't quite hear. I thought at first she was in some sort of trouble and actually slowed down, only to hear..'Hallo you want massage special handsome man?' I mean, it was about eight frickin thirty on a Sunday morning for chrissake. It is basically a brothel city and although I am sure there are some nice (good) girls there it would not be my first choice of a place to find them. There are lots of respectable expats there but it also attracts the dregs of society. There are lots of lovely, genuine Thai ladies who want nothing more than to take care of you AND you take care of them but I wouldn't be looking for them in Pattaya. Just my 2 satangs worth... good luck.

[tropo]

Just because you plan for the future doesnt mean you are obsessed with the future. In fact part of living in the present entails planning for the future.

Whether it be saving for a house, studying for degree, training for a better physique etc what we do in the present affects our future. That doesnt mean we dont enjoy the journey.

A life without purpose or direction is rather meaningless isnt it?

That all depends on whether you're obsessed or not. When you spoke about clear vision for 20 years, that sounded obsessed.

You can have purpose and direction without being obsessed.

If you're 50 plus, a clear vision for 20 years is not something you would want. If you're 20 years old, that's another story.

Edited September 3, 2012 by tropo

[Tolley]

Just because you plan for the future doesnt mean you are obsessed with the future. In fact part of living in the present entails planning for the future.

Whether it be saving for a house, studying for degree, training for a better physique etc what we do in the present affects our future. That doesnt mean we dont enjoy the journey.

A life without purpose or direction is rather meaningless isnt it?

That all depends on whether you're obsessed or not. When you spoke about clear vision for 20 years, that sounded obsessed.

You can have purpose and direction without being obsessed.

If you're 50 plus, a clear vision for 20 years is not something you would want. If you're 20 years old, that's another story.

That wasnt me who spoke about the 20years it was another poster.

Anyway I am off to the plastic tent to work off some flab.

[tropo]

That wasnt me who spoke about the 20years it was another poster.

Anyway I am off to the plastic tent to work off some flab.

Sorry about that. Enjoy the plastic tent.

[TommoPhysicist]

Lots of expats manage a reasonable lifestyle on 30k per month. It is really up to the individual what kind of a lifestyle you expect. Of course it's possible to burn a lot more than that if you expect a luxury home, a luxury car, going to expensive restaurants daily and party in walking street nightly, but you don't have to live a boring life just because you don't do all that.

Single, lonely men who eat noodles every day and live in a shoebox, then maybe, yes. Otherwise that is totally impossible.

As I previously said I live on 10k a month

My wife and I have a farm with a large farmhouse, together with our children and step-children (sometimes my SIL), out back we have 25 rai of farmland, and up the mountain we have another 30 rai of forest. I am neither lonely nor living in a shoebox.

Edited September 3, 2012 by TommoPhysicist

[tropo]

As I previously said I live on 10k a month

My wife and I have a farm with a large farmhouse, together with our children and step-children (sometimes my SIL), out back we have 25 rai of farmland, and up the mountain we have another 30 rai of forest. I am neither lonely nor living in a shoebox.

Is that 10k additional to the food and proceeds from the farmland? Surely that farmland was a big investment? How big is that in hectares?

[hotandhumid]

OK, So all the Pattaya expats will flame me but here goes. I worked in Pattaya for 6 months but couldn't wait to transfer out to Bangkok; why? The last straw was one Sunday morning, early, as I drove to get some milk, A half naked woman jumped out almost in front of the car near the Dolphin roundabout, shouting something at me I couldn't quite hear. I thought at first she was in some sort of trouble and actually slowed down, only to hear..'Hallo you want massage special handsome man?' I mean, it was about eight frickin thirty on a Sunday morning for chrissake. It is basically a brothel city and although I am sure there are some nice (good) girls there it would not be my first choice of a place to find them. There are lots of respectable expats there but it also attracts the dregs of society. There are lots of lovely, genuine Thai ladies who want nothing more than to take care of you AND you take care of them but I wouldn't be looking for them in Pattaya. Just my 2 satangs worth... good luck.

What half of her was naked?

[Naam]

OK, So all the Pattaya expats will flame me but here goes. I worked in Pattaya for 6 months but couldn't wait to transfer out to Bangkok; why? The last straw was one Sunday morning, early, as I drove to get some milk, A half naked woman jumped out almost in front of the car near the Dolphin roundabout, shouting something at me I couldn't quite hear. I thought at first she was in some sort of trouble and actually slowed down, only to hear..'Hallo you want massage special handsome man?' I mean, it was about eight frickin thirty on a Sunday morning for chrissake. It is basically a brothel city and although I am sure there are some nice (good) girls there it would not be my first choice of a place to find them. There are lots of respectable expats there but it also attracts the dregs of society. There are lots of lovely, genuine Thai ladies who want nothing more than to take care of you AND you take care of them but I wouldn't be looking for them in Pattaya. Just my 2 satangs worth... good luck.

some people have all the luck. but whatever... now i know where to drive on sunday mornings

[TommoPhysicist]

As I previously said I live on 10k a month

My wife and I have a farm with a large farmhouse, together with our children and step-children (sometimes my SIL), out back we have 25 rai of farmland, and up the mountain we have another 30 rai of forest. I am neither lonely nor living in a shoebox.

Is that 10k additional to the food and proceeds from the farmland? Surely that farmland was a big investment? How big is that in hectares?

Not everyone marries a woman who owns nothing.

There are plenty of Thai ladies out there with their own homes, farms, transport and businesses.

This country is full of independent and eligible single women.

2.5 rai = 1 acre, so that's 10 acre of arable and 12 acre of forest.

Edited September 3, 2012 by TommoPhysicist

[irishlad]

THANKS everyone.

I get the general jist !!

Anyhow I arrive October 15 and defo looking to meet some or all of you for beers !!

THANKS