Retiring At 32 Next Feb!

[NeverSure]

A basic guess would be to make sure you've got enough money to cover you and your family until you are 95 - however much that may be.

My dad will be 96 in January and lives very well in the US, so maybe 95 isn't a long enough plan.

Of course he no longer buys green bananas, LOL.

[Bluetongue]

This is just my opinion and I'll take a lot of flack, but my observation (just for me) is that most expats who move to LOS are single men who move for the women. For that privilege they put up with a lot of issues from visas to corruption in the system, and poor infrastructure in many places. It's women. Period. End of statement. Fini. Only if you plan to do that too as a married man (no judgement here) can I see why you'd want to be in LOS with your family.

Don't be sexist - have you ever considered that maybe his wife and mother want to move here for the women, and he's just being reluctantly dragged along?

On a serious note, I agree about he schooling issue, he didn't give his daughter's age, but sounds like he's wealthy enough that USD $30K per year may not be a big deal for one of the half-dozen decent international schools in Bangkok.

You can assume that he is wealthy from the brief general overview he has given us. Lets see if it lasts without having to put the Kevlar vest back on.

[BigJohnnyBKK]

Of course he no longer buys green bananas, LOL.

I hope I never get to that sad state no matter how old I am!

PS just learned that 22% of American's now plan to keep working past 70 years of age, presumably most of them not by choice. . .

[NeverSure]

Who was it that said "The best way to make a small fortune is to start out with a large one?" Surely it was an expat.

[Bluetongue]

This is just my opinion and I'll take a lot of flack, but my observation (just for me) is that most expats who move to LOS are single men who move for the women. For that privilege they put up with a lot of issues from visas to corruption in the system, and poor infrastructure in many places. It's women. Period. End of statement. Fini. Only if you plan to do that too as a married man (no judgement here) can I see why you'd want to be in LOS with your family.

Don't be sexist - have you ever considered that maybe his wife and mother want to move here for the women, and he's just being reluctantly dragged along?

On a serious note, I agree about he schooling issue, he didn't give his daughter's age, but sounds like he's wealthy enough that USD $30K per year may not be a big deal for one of the half-dozen decent international schools in Bangkok.

Naiharn is in Phuket.

Its far enough away from Patong for somone to say that they choose to live in Phuket because its such an idyllic paradise'

[Bluetongue]

Who was it that said "The best way to make a small fortune is to start out with a large one?" Surely it was an expat.

Yeah but we can have fun doing that, often not damaging too many other lives in the process. Or letting everyone on the internet know how far we are through it..

[NeverSure]

PS just learned that 22% of American's now plan to keep working past 70 years of age, presumably most of them not by choice. . .

Some by choice because today's 70 is yesterday's 50. People are simply living longer and having their health longer. Many people shrivel up mentally when they retire. Surprisingly, the one's I'm most sure will work into their 70's, and some are, are wealthy and they built their business and fortunes from poor beginnings and their business is how they identify themselves. It's their life.

Others got caught in the housing meltdown. A typical American has most of his net worth in his home, or at least a large part of it. Many people went from having a big equity in a home to being upside down in it. Other had free and clear homes which they planned to sell and downsize, and use the difference. Others planned to get a reverse mortgage but that amount will now be much smaller.

So yes, for various reasons including economics, many will retire later. However, I see most people failing to plan and save long term. I can't believe how many are nearing or entering retirement with large debt for homes and consumer goods and simply can't take a cut in income. That speaks to the American Consumer Idiocy as much as anything.

[yourauntbob]

just be yourself and enjoy it.

stay busy, many get bored after a time, get grumpy and turn to alcahol.

plenty to do if you look around.

HEY! I resemble that remark

[Bluetongue]

PS just learned that 22% of American's now plan to keep working past 70 years of age, presumably most of them not by choice. . .

Some by choice because today's 70 is yesterday's 50. People are simply living longer and having their health longer. Many people shrivel up mentally when they retire. Surprisingly, the one's I'm most sure will work into their 70's, and some are, are wealthy and they built their business and fortunes from poor beginnings and their business is how they identify themselves. It's their life.

Others got caught in the housing meltdown. A typical American has most of his net worth in his home, or at least a large part of it. Many people went from having a big equity in a home to being upside down in it. Other had free and clear homes which they planned to sell and downsize, and use the difference. Others planned to get a reverse mortgage but that amount will now be much smaller.

So yes, for various reasons including economics, many will retire later. However, I see most people failing to plan and save long term. I can't believe how many are nearing or entering retirement with large debt for homes and consumer goods and simply can't take a cut in income. That speaks to the American Consumer Idiocy as much as anything.

Getting out of real estate can be matter of timing, I say sell if it gets to some figure beyond what your good sense says is more than it is worth. Many people though dont sit there waiting for their home to get to $x . When the bottom falls out they have to live with it, they certainly do after they just enter into real estate. Consumer moronic behaviour is another befuddling issue. Dont buy it, just doesn't cut it as a message.

[BigJohnnyBKK]

Getting out of real estate can be matter of timing, I say sell if it gets to some figure beyond what your good sense says is more than it is worth. Many people though dont sit there waiting for their home to get to $x . When the bottom falls out they have to live with it, they certainly do after they just enter into real estate. Consumer moronic behaviour is another befuddling issue. Dont buy it, just doesn't cut it as a message.

IMO considering your "purchasing" on credit the home you live in "an investment" is moronic.

[Dancealot]

Congratulations Commando! Great positive news to read.

[payak]

just be yourself and enjoy it.

stay busy, many get bored after a time, get grumpy and turn to alcahol.

plenty to do if you look around.

HEY! I resemble that remark

not saying all are, however i'm yet to find an expat who doesn't.

rarely have i even seen a sober one.

[Bluetongue]

Getting out of real estate can be matter of timing, I say sell if it gets to some figure beyond what your good sense says is more than it is worth. Many people though dont sit there waiting for their home to get to $x . When the bottom falls out they have to live with it, they certainly do after they just enter into real estate. Consumer moronic behaviour is another befuddling issue. Dont buy it, just doesn't cut it as a message.

IMO considering your "purchasing" on credit the home you live in "an investment" is moronic.

That could well be the case but if the exit is timed in your favour, then, in hindsight, it don't look too moronic.

[Beetlejuice]

well done, 32 years old thats fantastic.

hope you love it.

Spent loads of time in Thailand - one of my best mates lives and works there.

Bringing my wife, young daughter, and my mother with me - going to be a great new life for us all

Any advice or input appreciated.

How do you intend to support yourself and family here in Thailand for the remainder of your lifetime or for however much period you propose to stay here?

Do you already have a legally based business somewhere or are maybe hoping that a work opportunity will arise?

Do you have ample financial resources to cover you and your family for housing, transport, education, health medical care, decreases in bank interest and exchange rates, Immigration requirements and for the general cost of living allowing for increased inflation over the years?

Is your wife Thai, otherwise how does she and your daughter intend to stay in Thailand?

Edited November 18, 2012 by Beetlejuice

[meatballs]

I smell a troll? Anyone else?

[MickA]

Good luck to you mate! I retired from the Corps aged 40 and came out here .... never regretted it

[BigJohnnyBKK]

That could well be the case but if the exit is timed in your favour, then, in hindsight, it don't look too moronic.

I sold the car I bought to drive around Europe when I was a teenager at a profit when I was done with it too.

I'm not saying buying a home doesn't make sense economically, obviously depends on many variables. I'm just talking about the myth that doing so is an investment in a true asset any more than most people's automobile purchases.

Particularly when it's done using credit, usually mostly for emotional motivations and most especially when the price-to-rent ratio is so obviously skewed as it has been in most places in recent decades.

[NeverSure]

IMO considering your "purchasing" on credit the home you live in "an investment" is moronic.

I agree totally and never thought of a home as an investment per se. However, over the years I did manage to pay off a mortgage so my living, despite taxes and insurance etc. is far cheaper now than rent. Also the property taxes are deductible from my income taxes. While I had the mortgage, the interest was also deductible, helping some with the payments by making my "take home" pay larger.

Because there is always somehow the cost of housing in the budget, I think the goal of paying off a home is worthwhile. Also, my plans of moving to LOS included keeping my home "just in case" and giving it to a property management company to rent. I don't like the numbers so I'm now going to sell it, increasing my money supply for LOS. I'm going to take 1/2 of the sales price and pay cash for a duplex in the US, rent out 1/2 and keep 1/2 with its garage for my own storage and a place to call my "residence" and a place to land when I want to visit back in the US.

Different strokes...

[cheechoo]

well done, 32 years old thats fantastic.

hope you love it.

Spent loads of time in Thailand - one of my best mates lives and works there.

Bringing my wife, young daughter, and my mother with me - going to be a great new life for us all

Any advice or input appreciated.

sorry,

but thailand is no place to raise a non thai child!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

youll be sorry!!!!!!!!!!!!!!!!!!!!!!!!

[BigJohnnyBKK]

I agree totally and never thought of a home as an investment per se. However, over the years I did manage to pay off a mortgage so my living, despite taxes and insurance etc. is far cheaper now than rent. Also the property taxes are deductible from my income taxes. While I had the mortgage, the interest was also deductible, helping some with the payments by making my "take home" pay larger.

Because there is always somehow the cost of housing in the budget, I think the goal of paying off a home is worthwhile. Also, my plans of moving to LOS included keeping my home "just in case" and giving it to a property management company to rent. I don't like the numbers so I'm now going to sell it, increasing my money supply for LOS. I'm going to take 1/2 of the sales price and pay cash for a duplex in the US, rent out 1/2 and keep 1/2 with its garage for my own storage and a place to call my "residence" and a place to land when I want to visit back in the US.

Different strokes...

Yes of course everything you're talking about is sensible optimization of what is usually one's largest expense.

My whole life everywhere I've lived has had crazy rent-to-price ratios, and I've always valued lifestyle flexibility more than most, so buying's never made sense to me financially.

I have built houses for several of my wives though, but it never cost me any money, nor did I consider getting any sort of financial reward for the years of labour invested.

[notmyself]

My whole life everywhere I've lived has had crazy rent-to-price ratios, and I've always valued lifestyle flexibility more than most, so buying's never made sense to me financially.

With you on that one. Makes even less sense in LoS because you cannot buy the land.

[rene123]

When I say 'Play the long game' I am not necessarily talking about money.

That people assume I am talking about money, suggests to me they don't understand 'the long game'.

But understanding will come - do be aware it will not come alone.

I know exactly what you mean. It's all about having a driving interest in life that will occupy your time and keep you young and healthy. Boredom is a number one killer for many people.

Congrats to the early retirement. If people have a thriving interest or hobby to keep them occupied, then early retirement can not only fulfill your life, but extend it as well. I think there are stats that say people who retire early live longer.

[cheechoo]

ive seen stats that say those that retire early die earlier..................

[BigJohnnyBKK]

Actually I've been developing plans for modular housing that's easily relocated for when I've got enough to invest in a 30-year lease.

Will need to make sure the payment terms make sense in case for when the neighbors become intolerable or the landlord changes their mind or I just get tired of that location.

But at least I'll be able to take the house itself with me to the next location.

[The Pundit]

just be yourself and enjoy it.

stay busy, many get bored after a time, get grumpy and turn to alcahol.

plenty to do if you look around.

Oh for sure - I posted a few months ago and got absolutely ripped apart. Seems to be a lot of haters on here, but that's the nature of the beast with forums.

First 6 - 12 months will be devoted to training and getting healthy again, spent way too much time in an office over the last few years!

After that, running a few other businesses I'm involved in remotely from Thailand, and also looking at starting a few smaller businesses in country. More than enough to keep me occupied

What do you do?

So you're NOT retired then?

[David006]

The 'Long Game' is many things.

When I was 18 the 'long game' was my old man advising me to join the company pension.

When I was 30 the 'long game' was an older friend and colleague telling me to make investments at 30 so I had the choice 'to walk' in my mid fifties (not so that I would have more money at 65 than the plan my old man advised me to put in place).

In life the long game is to tell yourself the truth today, lest the truth bite you in the ass tomorrow.

On TVF the long game is, our posts are not deleted, they can be searched and reposted in the future.

This is the internet, be who or what you want to be....... but whoever you choose to be you will not buck the long game.

The only way to play the long game is upfront truth now - you cannot win lying to yourself.

phew ..quite the philosophizer....So in short you spend your life planning for the last years . commendable no doubt but a bit boring methinks.

Sorry but I am a bit dense re the lying to yourself bit.

Goodonya OP ....the whole world to choose from and you pick Kamala beach Thailand.....was this an elimination process ? As one poster said ......holiday experience and residence are two very different animals.

Could you not have got visas for somewhere like Australia.( assuming you're not Aussie)..lotsa beaches and palm trees there...better for the family also methinks.

Anyways good luck ...don't let the kids swim during SW monsoon !!!

[ExCommando]

Thanks for all the replies.

I am not a troll - what would the purpose be?

I'm on here to try and meet a few people before we arrive.

My daughter is 6 months old; will we stay in Thailand until she is at school age? Who knows.

For us, it's a 1 - 3 year plan to relax in the sun and chill out. If it becomes our home, so be it.

I've picked Thailand because we know the country from holidaying there and the cost of living is relatively low.

[NeverSure]

I've picked Thailand because we know the country from holidaying there and the cost of living is relatively low.

The cost of living isn't low unless you choose to live as the natives do. If you want Western housing and Western food and two cars and all else that is West, you won't save a dime. What you save in housing you'll lose in Western food, sundries, durable goods, cars, and most else.

Expats go to Thailand for the girls. </subject> They can live cheaper if they rent cheap, eat as Thais do, (I can't hack that even most of the time) do without a good car and use public transportation, maybe buy a used scooter, and so on. Most important, they can have a girl much younger and cheaper if they are wise about it.

Unless you actually are coming for the bar girls, I give you 6 months. Actually I give your wife 6 months in any event.

[thedistillers]

I wonder what is it that attract people to Thailand (beside the obvious, of course). It's great to visit for a short vacation, but there really is no reason to move there, especially if you have a family. If you've experienced negativity in this forum in the past, it's because there is a lot of bitterness from people who are stuck in the LOS. I would be bitter too, if I would be stuck there; I currently live somewhere else and my life is much better in every way than my short time in Thailand.

One of the biggest challenge that people probably overlook at your age is the challenge of making friends and networking. There are very few people who are in the same situation as you, and if you live outside Bangkok, it's extremely likely you'll end up with a deeply unsatisfying social life. (Even in Bangok, it's pretty hard to make friends).

Prima facie, Thailand might appear like a bargain destination, but it really isn't, unless you live in the middle of nowhere. But then if you live in the middle of nowhere, it's pretty depressing.

If you would be alone, I would just say go for it. But seeing you're dragging your family, I would strongly advise against it.

[manly100]

I like it, a few years break, catch up with life and family and thoughts. And near a beach in Thailand. Could end up being the best 3 years of your life. I moved here under similar circumstances 5 years ago, and really never want to live anywhere else. My TW and I bought a nice home in a nice soi in patong and its worked out great. Unlike the west, I don't get local government bills for rates; water is $15 a month. Garbage is $10 per year. Power is a fraction of the price of the west. The people both expat and local are so friendly, and I really mean that. The tax is 7% vat and that’s cheap. The food is terrific. I only have a beer when I go out once or twice a week with darn nice people. And the government makes it easy for an expat married to a Thai to live here. My lawyer handles all the paperwork, never a problem. Live a good life in Thailand? Sure Can!