Retiring At 32 Next Feb!

[The Pundit]

I retired from Singapore at the age of 28 !!!!!!!!!!! (year 2000) and I'm 41 now. With my farm (in Thailand), I'm earning close to a million Thb per annum and will be expending next year. Yes of course i still have some businesses in Singapore to sustain me during my early years so as to ensure i do not fail... Planning ahead is crucial...

Ergo...you are NOT retired,are you?

[The Pundit]

Just to put things into perspective here for the people who 'claim' to have retired in their early 30s and even twenties!Here's an article about Greg Coffey,'The Wizard Of Oz',one of the most successful traders in the world who's just retired at 41.

http://www.dailymail.co.uk/news/article-2219556/UKs-biggest-hedge-fund-star-Greg-Coffey-RETIRES-430m-fortune--age-41.html

Maybe it's just me but I find it hard to believe there's more successful people posting on Thai Visa!

[MAJIC]

Chiang Mai is the best place to live.

That's if you don't mind being a passive smoker,when they burn off all the rice fields!

[poanoi]

Just to put things into perspective here for the people who 'claim' to have retired in their early 30s and even twenties!Here's an article about Greg Coffey,'The Wizard Of Oz',one of the most successful traders in the world who's just retired at 41.

http://www.dailymail...ne--age-41.html

Maybe it's just me but I find it hard to believe there's more successful people posting on Thai Visa!

Yes it's just you that are under the delusion that it takes 430 million pound to retire in Thailand.

[Naam]

Going by your avatar you look a little over 32 I would say?

And I believe you are staying in the Pattaya area which is a lot different from some hick town in Thailand where the OP is considering staying.

As for income tax I have been trying to avoid paying taxes for years and have succeeded to some extent having done a long stint in the ME and just recently in Singapore. Unfortunately I still have a company in Australia and income producing assets there so I still make a hefty contribution to the tax take in Oz.

two correct assumptions. when i was 32 i started to earn my first "real" money (finished studies when 29). could have retired at age 40 but was too greedy and worked till 46. now happily retired since 22 years, 11 months and 22 days, living since ~8 years in the Pattaya area.

as far as "hick town" is concerned, i believe Nai Harn is a nice quiet place on Phuket Island not too far from shopping opportunities if one is keen on western goods (food).

[NeverSure]

Beg to differ there Herr Naam, key word missing from the above, NO, as in no income tax.

Gotta love Thailand, they aint taxing me to support a bunch of Greek tax dodgers, or failed de facto commie states.

i stand corrected!

For the US, I pay income tax on every dime I make and living in LOS doesn't change that. My Social Security income is taxed, my investment income is...

[Naam]

Beg to differ there Herr Naam, key word missing from the above, NO, as in no income tax.

Gotta love Thailand, they aint taxing me to support a bunch of Greek tax dodgers, or failed de facto commie states.

i stand corrected!

For the US, I pay income tax on every dime I make and living in LOS doesn't change that. My Social Security income is taxed, my investment income is...

you should have been more careful when selecting your parents.

[rgs2001uk]

Beg to differ there Herr Naam, key word missing from the above, NO, as in no income tax.

Gotta love Thailand, they aint taxing me to support a bunch of Greek tax dodgers, or failed de facto commie states.

i stand corrected!

For the US, I pay income tax on every dime I make and living in LOS doesn't change that. My Social Security income is taxed, my investment income is...

Oh how brutal, I feel your pain.

Thankfully BTGOG I aint American.

[GuestHouse]

I presume the OP got the response ge was seeking.

[farang000999]

I am sure the Germans and other Europeans will address this loophole at some point. We are all in this together mind you.

[Naam]

I am sure the Germans and other Europeans will address this loophole at some point. We are all in this together mind you.

sure they will. but the procedure, if/when any, will have to be agreed and ratified by 27 EU parliaments. that means it would apply to me after my next reincarnation. even then it wouldn't concern me because i hold dual citizenship since birth.

[farang000999]

I am sure the Germans and other Europeans will address this loophole at some point. We are all in this together mind you.

sure they will. but the procedure, if/when any, will have to be agreed and ratified by 27 EU parliaments. that means it would apply to me after my next reincarnation. even then it wouldn't concern me because i hold dual citizenship since birth.

For something as important as collecting taxes, I bet they will find some means of expatiating the process. But good job with the dual passports. I got a couple as well.

[Naam]

I am sure the Germans and other Europeans will address this loophole at some point. We are all in this together mind you.

sure they will. but the procedure, if/when any, will have to be agreed and ratified by 27 EU parliaments. that means it would apply to me after my next reincarnation. even then it wouldn't concern me because i hold dual citizenship since birth.

For something as important as collecting taxes, I bet they will find some means of expatiating the process. But good job with the dual passports. I got a couple as well.

compared to my wife i'm a choir boy, she has three.

[pokerkid]

I am sure the Germans and other Europeans will address this loophole at some point. We are all in this together mind you.

sure they will. but the procedure, if/when any, will have to be agreed and ratified by 27 EU parliaments. that means it would apply to me after my next reincarnation. even then it wouldn't concern me because i hold dual citizenship since birth.

even klingons have to pay the taxman, how else could they afford to go to war all the time

[joorakee]

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

The climate? The lack of necessity to migrate seasonally every winter?

[poanoi]

I had a need of moving here since i was freezing every single day of my life

[Naam]

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

The climate? The lack of necessity to migrate seasonally every winter?

whatever shortcomings i encounter here at the edge of civilisation i bear with patience except Thailand's climate. that is something i truly hate!

[Naam]

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.

except for (perhaps) "dragging your family" you are entitled to receive the award "possesses a wealth of no idea concerning life in Thailand."

[ExCommando]

Hey everyone

Thanks for all the replies. Even though there seems to be alot of angst and drama, I still appreciate all of you taking the time.

A few of you have posted me private messages, and I'll definitely catch up with you when I arrive in country - it'd be great for you guys to then post on this topic to let people know I'm "real" and not a troll. Not that it matters to me, but I'm sure there are other people in my situation, who will stumble upon this topic.

I'd like them to be able to contact me so I can build up a base of likeminded people.

The cost of living will be substantially lower for us - we'll be renting a 2 bed townhouse, which equates to around $1,200 AUS per month - this is what we pay per WEEK on our mortgage here in Australia.

Just on housing we will be saving over $3,500 per month - which will cover the majority of our other expenses. I don't drink or smoke; I spend most of my time training, kayaking or studying.

I find it funny the stereotyping that's going on in here - I'm pretty confident in my moral fibre, and think I can abstain from cheating on my partner.

I do appreciate all the advice - I think it's about us finding out whether Thailand is for us or not. If not, we will try somewhere else. I think Thailand will be amazing, but it might turn out to be a terrible place to live.

Great thing is we're not held down to anywhere or thing - my daughter will be just on 1 year old.

Thanks again everyone, and please feel free to PM me - I really am looking to chat and then catch up with people when I arrive in country.

Cheers!

[Humbugged]

Hey everyone

Thanks for all the replies. Even though there seems to be alot of angst and drama, I still appreciate all of you taking the time.

A few of you have posted me private messages, and I'll definitely catch up with you when I arrive in country - it'd be great for you guys to then post on this topic to let people know I'm "real" and not a troll. Not that it matters to me, but I'm sure there are other people in my situation, who will stumble upon this topic.

I'd like them to be able to contact me so I can build up a base of likeminded people.

The cost of living will be substantially lower for us - we'll be renting a 2 bed townhouse, which equates to around $1,200 AUS per month - this is what we pay per WEEK on our mortgage here in Australia.

Just on housing we will be saving over $3,500 per month - which will cover the majority of our other expenses. I don't drink or smoke; I spend most of my time training, kayaking or studying.

I find it funny the stereotyping that's going on in here - I'm pretty confident in my moral fibre, and think I can abstain from cheating on my partner.

I do appreciate all the advice - I think it's about us finding out whether Thailand is for us or not. If not, we will try somewhere else. I think Thailand will be amazing, but it might turn out to be a terrible place to live.

Great thing is we're not held down to anywhere or thing - my daughter will be just on 1 year old.

Thanks again everyone, and please feel free to PM me - I really am looking to chat and then catch up with people when I arrive in country.

Cheers!

I did pretty much same as you a few years later...so ignore the nay sayers.

[jacktrip]

Beg to differ there Herr Naam, key word missing from the above, NO, as in no income tax.

Gotta love Thailand, they aint taxing me to support a bunch of Greek tax dodgers, or failed de facto commie states.

i stand corrected!

For the US, I pay income tax on every dime I make and living in LOS doesn't change that. My Social Security income is taxed, my investment income is...

i guess its possible, if you really never want to go back...

[jacktrip]

methinks...

pay your income tax or get your passport revoked.

Edited November 23, 2012 by jacktrip

[steelepulse]

Op, you should post in the Phuket forum and you would probably get some good info and advice if you're moving to Nai Harn.

[seefaonuma]

Congratulation ! I wish I had that success too , retire while young .

[poanoi]

Financial security is good to have, but it get boring & pointless with no purpose.

I'm on medical retirement btw

[NeverSure]

Beg to differ there Herr Naam, key word missing from the above, NO, as in no income tax.

Gotta love Thailand, they aint taxing me to support a bunch of Greek tax dodgers, or failed de facto commie states.

i stand corrected!

For the US, I pay income tax on every dime I make and living in LOS doesn't change that. My Social Security income is taxed, my investment income is...

i guess its possible, if you really never want to go back...

Well, we could all guess that Uncle Sam knows how much social security he pays me, and my investment income is also reported. All that would happen is that they would file for me and deduct that plus large penalties from my Social Security and revoke my passport. I long ago decided that it's always better to just obey the law. I sleep better too.

[Morakot]

Congratulation ! I wish I had that success too , retire while young .

I'm sorry but "retiring" with 32 is a success of what?

[Humbugged]

Congratulation ! I wish I had that success too , retire while young .

I'm sorry but "retiring" with 32 is a success of what?

If you need to be told.

[Morakot]

Congratulation ! I wish I had that success too , retire while young .

I'm sorry but "retiring" with 32 is a success of what?

If you need to be told.

Well, when I retired at the tender age of 23, I had inherited a stately dwelling, a sizeable library, a manservant, a horse, and a donkey. My faithful servant and I have been roving the land ever since in pursue of chivalry. I am delighted to tell you my friend, what a success it has been.

Edited November 26, 2012 by Morakot

[Humbugged]

Manservant says it all.