I will be retiring at the age of 60 in September, married with Thai wife 3 children 4,6 and 12 . Already have a car for my wife and a pickup for myself, have our house in Sakon Nakhorn, would my pension of 1400 Euro monthly be ok for a good life in this area?

all depends on your lifestyle.... you can live anywhere in thailand depending on lifestyle. I live in chon buri on 12000 baht a week which gives me a good lifestyle , and have other money put away for holidays back home

Sounds like more than enough cash for that area dude even with your big family

Sounds like more than enough cash for that area dude even with your big family

If you don't want your children to be educated to any standard,I agree.

For the prent time it will suffice.

In the future I doubt it

Thanks for the reply, we also have 1500 rubber trees and I rai of casava and thinking of growing mushrooms is it a good idea?

Sorry dont know anything about farming.

Also it wasnt mentioned in your original post.

Byyyyeeee.

Sounds like more than enough cash for that area dude even with your big family

If you don't want your children to be educated to any standard,I agree.

If your concerns are education, you should choose another country to rise your kids.

Sorry dont know anything about farming.

Also it wasnt mentioned in your original post.

Byyyyeeee.

Yeah, I sort of get that feeling too

If you already have a thai wife and three children the eldest being 12 and have land here I would presume you have been in a long term relationship and had ties to Thailand for a while ,surely you must no the answers to the questions already unless you have been living with your head in the sand for the last century ,does your wife think it's enough it's up to her what lifestyle she wants or is looking for.

Edited January 13, 201313 yr by taninthai

Should be able to manage on 50,000B a month plus other income from your farming.

The largest monthly cost would be the three children of school age.

I have one 14 year old and it costs 100B a day for the school bus and lunch with drink.

If you do the same that is 6,000B per month. Then there are uniforms and extras to pay for. School uniforms not cheap here.

So yes you could manage, but running two cars and costs for schools I would say you will not be able to save much per month.

As mentioned in previous post, depends what you call a good life.

I like my internet, satellite TV and have a 2,500+ electric bill plus one pick-up. Could just about manage on the money you are talking about but would have nothing spare for emergencies. Such as last week 2 new tyres 12,000B. This is the type of thing that that many don't consider when doing their financial calculations.

Having kids makes it a different ballgame. We live out in the boonies but have no kids. I give my wife 30,000 baht a month and she pays for everything including my cigarettes and our clothes. We have no payments for rent or vehicles. We don't scrimp on anything and have a comfortable but not extravagant lifestyle. I have a retirement visa.

Re farming, you can ask on the farming forum

1 rai of cassava will not contribute any significant amount.

1500 rubber trees, I have no idea, but maybe Jamescollister will be able to give you an idea.

Education for your children has already been mentioned.

What happens to your pension when you die?

There is a fairly high probability that you will be dead before your youngest becomes an adult. Will your family be left with no income when you pop your clogs?

There's such a lot to think about and I wouldn't like to offer any advice, just food for thought.

The OP has a lot of experience living out there. Yet he asks if a monthly B70000 is enough to cope?

Peculiar...

I understand about all that's been saying, but I asked this question because before I was working in Europe and send money to my familly in Thailand it's only now that will be going to live there, have already money for the kids school in bank, my pension will only for our monthly spending.

I understand about all that's been saying, but I asked this question because before I was working in Europe and send money to my familly in Thailand it's only now that will be going to live there, have already money for the kids school in bank, my pension will only for our monthly spending.

You will be fine

your kids are so you, you had them so late, hope you have a plan for them, country schools are terrible.

I understand about all that's been saying, but I asked this question because before I was working in Europe and send money to my familly in Thailand it's only now that will be going to live there, have already money for the kids school in bank, my pension will only for our monthly spending.

56,500 baht (current exchange rate for 1,400 euro) should be fine for monthly expenditure especially if you have already planned for your kids education.

One thing you will have to think about is medical insurance for yourself and family. I understand that after 60, it is another ball-game................

Have you put aside money to pay for contingencies such as;

1) Medical care and,

2) University education for 3 kids.

It is not uncommon for a medical crisis such as an accident to consume 200,000- 500,000 baht. Have you considered the cost of a medical insurance plan for you and your family? The assumption some have that that the 30 baht plan health plan will respond is a dangerous one. I am dealing with this now as a longtime friend is undergoing cancer treatment. If not for the money from me and others , he wouldn't have proper treatment and no home care especially since his family just can't pay the extra costs. He's already paid 150,000 out of pocket in 4 months.

A university education is necessary for your kids if you do not want them to live a hand to mouth existence. The diploma is requirement for most basic entry jobs such as a bank teller. Even if the kids want to enter a skilled trade, they must attend a vocational school.

Sorry, but I think 1400 Euro is inadequate. I appreciate that some TVFers have a high threshold for stress or just don't worry about such things. They don't mind not using the AC or using a squat toilet or living restricted lifestyles since that is how they have lived their lives. As such, a low pension works for them. However, I have done my own numbers and know that as a single male with my lifestyle and an inability to part with basics such as toilet paper that doesn't rip up my bum, I, as an individual, need at least 1500 euro a month just for basic living expenses excluding health care, travel and extras. Only you will know if the money is adequate, but with 4 mouths to feed and the expected additional family members that will at some point show up with palms outstretched, you are going to have one meager existence.

I still don't understand how some people people manage to live with their limited incomes. One thing that I recognized long ago is that SE Asia is a very class conscious society and that a foreigner who doesn't look like he is at least of comfortable means is treated like dirt. I see it at immigration, at the hospital and in some day to day dealings with the locals.

If your concerns are education, you should choose another country to rise your kids.

Do any of these posters take the time and effort to do their own research, there are squillions of threads here.

Since you are going to move here anyhow why don't you tell us after you have been doing it for a few months what your personal answer is.

OP.keeps moving the goal posts.

impossible to answer.

"Have you put aside money to pay for contingencies such as;...

2) University education for 3 kids."

He said he has done that. A good university is not as expensive as many people believe.

KKU

Business = 8000 baht per term for tuition.

Science = 10000 baht per term.

"Sorry, but I think 1400 Euro is inadequate."

Since that is the amount he'll be getting, any suggestions on where he should take his family to live?

"...know that as a single male with my lifestyle and an inability to part with basics such as toilet paper that doesn't rip up my bum, I, as an individual, need at least 1500 euro a month..."

I think you've hit on the answer to that age old question;

"Why is the financial requirement for extensions for retirement higher than the extensions for marriage?

Terry

If your wife is a cheap charlie (like mine) and stay off the drink your ok. If not, your in trouble.

If your wife is a cheap charlie (like mine) and stay off the drink your ok. If not, your in trouble.

Yet has no problem spending 1000 B a head on stupid Japanese and korean buffets/BBQs.

" We need food you don't need beer"

Thanks for the reply, we also have 1500 rubber trees and I rai of casava and thinking of growing mushrooms is it a good idea?

Mushrooms is hard.

First year you get great crops, after that you get pest problems that move into the buildings forever.

There must be a way to overcome this, but I haven't found it.

Temporary buildings that you burn to the ground at every infestation might do the trick.

If your wife is a cheap charlie (like mine) and stay off the drink your ok. If not, your in trouble.

Yet has no problem spending 1000 B a head on stupid Japanese and korean buffets/BBQs.

" We need food you don't need beer"

Don't get me wrong, I like my beer, but have a lot more baht to piss away than he will.

If your wife is a cheap charlie (like mine) and stay off the drink your ok. If not, your in trouble.

Yet has no problem spending 1000 B a head on stupid Japanese and korean buffets/BBQs.

" We need food you don't need beer"

Don't get me wrong, I like my beer, but have a lot more baht to piss away than he will.

We both like our beer, just my wife's logic.

Thanks for all your advice, will try to go about with it as it's already dicided to come and live in Thailand. For info I don't drink or smoke and I think that will help with the family spending