Retirement.......To Thailand.

[theblether]

I often see people boasting about the fact they retired young, and I wonder to myself, did they really hate their jobs that much?

I always thought that part of the work - life balance was having a job or business that you enjoyed. Why would you want to retire from something you enjoyed?

Now I can see that some people have been trapped in a golden handcuffs arrangement though. Circumstances dictate that there is an earliest retirement date and it would be financial suicide to leave early. I get that, I was involved in a golden handcuffs deal for three years and the last year was a daily countdown. It's no way to live a life but the alternative is even worse.

I'm not having a go at people in that position, far from it. I could also see how a change of management would be torturous as some new clueless young buck comes in and wastes your enjoyment of your job. On the other hand, I take an attitude that if I am going to be forced to do the hours, I better get paid the maximum for it. If I was in a superannuated job I would put every effort in to getting to the top pay band available, knowing that the pension and lump sum would normally follow at a higher level. The idea of retiring without maximizing the available return would irritate the life out of me.

In my case I'll never retire. I may give up my company but I'll do something else to keep my hand in. I think I fear mental stagnation as much as anything, I see the effects of that every single day here in Thailand.

I admire people that fill their days here in Thailand. I see people heading out to Thai classes, heading out to various clubs every day in life and I think it's magic. I know some people that occasionally wander into the temple for a few days or longer, others heading for the golf course, and many more disappearing on travels around Thailand or further afield. Some have retired to effectively a full time job looking after their garden, such is the growth rate here in Thailand, again magic if you enjoy it.

These people tend to be the happiest as far as I can see, they wake up in the morning with something to do, they may have retired from working, but they haven't retired from life.

On the other hand, I do see a lot of people who appear lost, and that's unfortunate. They seem to have arrived without a plan and after the self awarded doing nothing period, they stagnate as they don't know what to do next.

What's your thoughts on your own retirement? are you enjoying it? or if you haven't retired already, are you dreading it? I know a lot of people that dread it, they fear it in fact...........and what would you advise to anyone considering retirement to Thailand?

Retirement is one of the biggest steps in our lives, and to move to Thailand would make it an even greater step.

What's the secret?

[villagefarang]

Some people are sheep and find themselves lost without a shepherd to tell them what to do and when to do it. While they may make good employees, they often don’t do well in an unstructured environment, like one finds in Thailand.

I, on the other hand, never really liked structure so Thailand was a good fit 36 years ago and is still a good fit today.

[harrry]

Some people like the power and control that running a country or company gives. Some people view money as simply a means to get what they need or enjoy. The first group can never really retire when was the last leader of a country that stepped down voluntarily and then stayed home. The second group can retire. Sometimes if all they knew was the structured environment of a workplace they have dificulty in adjusting to using their time in retirement. Sometimes their families have trouble with having to put up with what their workmates have for years.

One size fits all is not really aplicable here.

Edited October 4, 2013 by harrry

[CharlieH]

Some people can never retire as they are not financially able to do so and must strive everyday to make ends meet, after all, there is no welfare state here. Some probably fear each new month as another challenge to meet their commitments.

Retirement from a financial aspect and therefore lifestyle choice is not the same as the UK for example where you know there is X amount available no matter what, not so here, exchange rates, visa requirements, political unrest etc all contribute to the picture and one that is constantly changing, to say nothing of ever increasing cost of living, which once appeared so cheap and the reason for many to be here to start with.

You may have a business home etc here but that can change rapidly, as can health situations and for some the future is never that certain and can be a constant concern. Some may have in the past never been really bothered or concerned about retirement, pensions etc, then before they know it they reach that time and age tells them they really do need to be concerned and its too late, your out of time and face the reality you may never actually retire.

For those that have financial security its a different ball game and for those lucky few I would imagine that it takes a certain mindset to be motivated and not just fade away as some do. For many, they need that pressure to achieve and be productive as they dont know any other way and couldnt survive without it.

Edited October 4, 2013 by CharlieH

[harrry]

I do not count people who are working here as retired. They are migrants though for many it seems they are fulfilling the dream of owning their own pub so they cannot be thrown out of one ran by someone else.

[weegee]

Been retired a couple of years or more now(Don't count the days anymore).

I am too busy enjoying doing what I have missed all my life before. Everyday I wake up knowing there is something to do around the place here..Great.

That to me is what I call fulfillment in later years of life. some see it different, but different things for different people....whatever makes you tick hey?

[cpofc]

it doesn't matter whether you retire here or anywhere else, it is the same old story, people adhere to the christian work ethic and make excuses for 'having' to remain working, when in reality, retiring from work does not mean retiring from life. Neither is retirement planning all about money. Most people are totally unprepared, mentally, for retirement.

I have had a few 'careers' in my lifetime and the last one I had, that balance tipped. The gyro toppled. What started out as a hobby became a job. And worse. It was a skill that few had and everyone wanted. Sounds great doesn't it? Believe me it is not all its cracked up to be

Today, I have plenty of things to do. And I don't even have a garden.

[Jasun]

I love my job, but Pina Coladas on the beach would beat it hands down.

[ToddWeston]

I love my career and I miss it daily - I can't fill 60 seconds without being bored these days. I scramble to find new hobbies that excite me. Personally under 50 was too early to settle into retirement whilst my Thai has taken to it like and duck to water.

The good news is it's been months since I awoke and got dressed for work

[Swiss1960]

I love my job, I get paid pretty well and love that money, but after a burn-out some years ago, I realized that it is not a job to be done up to 65...

I will retire in 2-4y, depending on many factors (economy in Switzerland and Thailand, situation in Thailand at time of retirement), but the main factor is to have enough money to spend for the rest of my lifespan. I did my budgeting 3y ago after having been to Thailand many times over a period of 4y and after having fallen in all the possible traps known and written about on here..

I looked into different places, from the south of Europe to South America to Florida to Indonesia and Thailand - and Thailand is my choice. My budget includes an apartment / townhouse and spending for me and my Thai GF and her kids of around 100K monthly, while receiving around 80K from the Swiss pension fund when reaching 65y... and I can reach 100y without running out of money.

I have already made friends and joined clubs, will try to do some charity stuff through my friends, will learn golf and "perfect" my Thai and Russian language skills, but will mainly be family man and enjoy reading, travelling around Thailand and otherweise enjoy to do nothing.

And of course... will do my best to reach 10'000 posts and 5'000 likes on ThaiVisa and apply for a moderator job...

[theblether]

^^ Good thinking sir, you've obviously planned it out well.

I hope you are gentle with me if you ever achieve your ambition though

[Swiss1960]

^^ Good thinking sir, you've obviously planned it out well.

I hope you are gentle with me if you ever achieve your ambition though

Yesssir... I'll put you on top of my charity-worthy farang list and will invite you for drinks from time to time, since I really enjoy reading your posts

Edited October 4, 2013 by Swiss1960

[FiftyTwo]

Most people I know in the UK hate their jobs.

It's something they have to do to get money.

I worked full-time until 45, two days a week until 52, don't intend to work again.

Edited October 4, 2013 by FiftyTwo

[jocko]

Interaction with people around you and something to look forward to is a must .

[GuestHouse]

Something to remember.

If you plan to spend your retirement in Thailand then you need to meet the retirement income requirements. (which have never gone down)

If you haven't the means, or an effective plan to meet those requirements - then retirement in Thailand is not going to be a long term thing.

[GreenSnapper]

A few hints for early retirement:

Plan your retirement early, start early saving money. Don't trust in your Western pension system. It will pay out much less than what you believe.

Start early to learn how to invest you money with high returns. A 2% fixed account at Bangkok Bank is not good investment and not high return.

Better have your own business than being employed. Make serious money when you are 20-40 years old.

Avoid by all means a Western divorce. That implies never marry in a Western country (hint for the young guys here). 50% of Western marriages end in divorce and you shall not think "my woman is different".

You shall not think "my woman is different" in Thailand too. Keep your assets out of the country.

You cannot retire if you believe "I can live on 20000 Baht/month".

If you follow these rules, you can with some luck retire at age 40-45. Or even earlier with lots of luck.

[FiftyTwo]

I've always had the impression that those who enjoyed work so much lacked the ability to make friends and had little imagination.

Work provides them with instant captive friends and something to do all day.

I am so busy, now retired, it doesn't seem possible that I once had time in my life for working.

@GS

I can live on 20,000bht/month but choose not to, and thankfully don't have to.

Edited October 4, 2013 by FiftyTwo

[GuestHouse]

I've always had the impression that those who enjoyed work so much lacked the ability to make friends and had little imagination.

Work provides them with instant captive friends and something to do all day.

I am so busy, now retired, it doesn't seem possible that I once had time in my life for working.

@GS

I can live on 20,000bht/month but choose not to, and thankfully don't have to.

This is an example of the misunderstanding we have amongst ourselves.

I'm sure your choice is right for you, it does not follow that people who choose to work are social misfits.

[Hedghog]

What's to love about sixty hour work weeks.

Only the paycheck.

Then early retirement.

It worked for me.

Also young enough to go back to the work place if I so wish.

Financial security is number one.

[Dararasmi]

I wish I could add something to the discussion, but in order to retire, one had to have worked. That's me out.

[pomchop]

I know way too many farangs in Thailand whose "retirement plan" is sitting around waiting for their mother or father to die so they can inherit enough money to live. Lucky that their parents worked and saved and made enough money to support "little johnny" who never was able to make or save or plan anything.

[EveryDayTheSame]

Question: If you could retire NOW, and afford to lead a reasonable life here in Thailand, without ever having to work again,(say around £20-25K P.A.).......How many of you who "LOVE MY JOB" would turn it down?....and Continue working?........and.....WHY?......I am genuinely interested to know.

[Gsxrnz]

I've always been a lazy git, so early retirement was a personal ambition from birth.

Been lucky in life and the cards have always fallen my way, so count myself lucky that I'm 98% retired and living the dream in Thailand. It has it's ups and downs as I'm sure it would in any country. Still have business interests but they're well managed by others - however I still have to do a lot of thinking and planning for them which keeps the brain ticking over on the golf course.

Two catch phrases come to mind about retirement, early or otherwise. "Nobody ever went to their grave wishing they'd spent more time at the office." And "I'm so busy in my retirement I don't know how the hell I found the time to ever go to work."

Both those apply to me - getting bored or getting out there and making the most of things is a lifestyle choice. I've generally found that those that choose boredom are miserable buggers and would be bored miserable buggers no matter where they lived.

[wileycoyote]

I would love to retire to Thailand

[i claudius]

I retired at 58 , well did a bit on my own little buisness ,but basically retired ,i then came to live here with my wife and son , now i cant imagine having to actually work although i have been offered a job here twice ,i am one of those lucky people who is basically a lazy sod and enjoy just coming on the computer to read the papers ,going for a drive with the wife or watching a bit of tv ,,actually i am just to busy doing nothing ,to even think about working ,lovely jubbly.

[StreetCowboy]

I've always had the impression that those who enjoyed work so much lacked the ability to make friends and had little imagination.

Work provides them with instant captive friends and something to do all day.

I am so busy, now retired, it doesn't seem possible that I once had time in my life for working.

@GS

I can live on 20,000bht/month but choose not to, and thankfully don't have to.

This is an example of the misunderstanding we have amongst ourselves.

I'm sure your choice is right for you, it does not follow that people who choose to work are social misfits.

The way he phrases it "lacked the ability to make friends and had little imagination" almost sounds like a criticism, as if he's trying to put down people that enjoy their work. I'd like to think that was just poor phrasing, and not a product of his jealous nature

SC

[somtampet]

I retired at 51,having had a divorce in 1998,after 27 years of marriage.Spent 3 months in Pattaya,then decided to totaly retire here.

Good financial management,even at 77 baht to the gbp then,and allowing for a 5% inflation annualy has helped me to retire easily.My income has increased over the years,with cashing more pensions,savings matured etc etc,and at 65,a nother little earner,my state pension,which i have paid into for 36 years.

I have sold my house in uk now and have nothing there,except my bank account with private pensions monthly.The only problem i have had is jealousy,from certain members of family, i ncluding my son sometimes,but their loss not mine.A few on here seem to be jealous of the expats,saying we are all pissheads or have no money

[Kerryd]

One thing I learned a few years ago at a (military) retirement seminar. What things cost today, won't be the same as they'll cost in the future. You may think you are making enough retirement income to live on now, but as inflation grows and prices climb, 10, 15, 20 years in the future you may find it isn't enough.

At the seminar, they gave examples of prices for various items 20 years earlier (i.e. a liter of gas, pound of butter, loaf of bread, pack of cigarettes, etc) and what they cost currently. It was surprising to see just how high prices had gone up. Gas (petrol) alone had gone up something like 300+% over the previous 20 years in some places.

Some examples I pulled from a UK website today:

Item

1993 Price

2013 Price

% Change

1 litre of unleaded petrol

50p

£1.38

+276 %

Loaf of bread

39p

£1.35

+346%

First class stamp

25p

£0.60

+240%

A pint of milk

34p

£0.49

+144%

So keep in mind, 20+ years from now are you going to be making enough to get by on, or are you going to be looking for a new home in an even cheaper part of the word to live in ?

If your income today is barely enough to get by on, guaranteed it won't be enough a few years from now.

[Naam]

The Blether

What's your thoughts on your own retirement? are you enjoying it?

i liked my job very much but like the 8,315 days of retirement better. if i had to do it again i'd retire at age 42 and not at age 46.

somebody who claims he is not retired because he is running a company abroad but spends months gallavanting in Thailand and hours writing novels in Thaivisa is in my book "quite retired"

[harrry]

The Blether

What's your thoughts on your own retirement? are you enjoying it?

i liked my job very much but like the 8,315 days of retirement better. if i had to do it again i'd retire at age 42 and not at age 46.

somebody who claims he is not retired because he is running a company abroad but spends months gallavanting in Thailand and hours writing novels in Thaivisa is in my book "quite retired"

At least while he is posting here his employees can get on with their work and not have to worry about the thousands of pages of emails he probably would send them if it was not for ThaiVisa.