How Many $hundred Thousands Is Ideal

[thaiknot]

i am wondering how much money one came to thailand with and was it enough.

i have close to $300,000 in cash and am too young for the retirement visa and don't want to start a business in thailand just continue trading and managing my investments.

if i go for the 3 million baht investment visa,that would leave me with $200,000 presently.am sure if i stay for a few more years here in the states,my investments and income should grow my $300,000 to close to $500,000,but since i can work anywhere i can have an internet connection,don't

know if i should wait or just go.

what would be the lifestyle and necessities and safety net nest egg be like for someone with:

$100,000

$200,000

$300,000

etc.

[GuestHouse]

You have the question wrong.

You need to first define what you want from your life and then work out how much that would cost.

$300K could be cut in two on the purchase of a 'mediocre' appartment in Thailand.

If that leaves you $150 to get an income from, then (to my mind) you are underfunded.

Of course you might choose to rent or live somewhere cheap.

I take the view I'd like to have an income of 70% of my current salary in order to retire with comfort in Thailand (I choose this figure on the basis that I do not discount things in Thailand going t1ts up and that meaning I have to go live elsewhere).

So, assume 5% income on investment the calculation of necessary capital is (current income*0.7*19).

This calculation assumes there is no need for capital expendature (House/Car etc).

[SunbeltAsia]

i am wondering how much money one came to thailand with and was it enough.

i have close to $300,000 in cash and am too young for the retirement visa and don't want to start a business in thailand just continue trading and managing my investments.

if i go for the 3 million baht investment visa,that would leave me with $200,000 presently.am sure if i stay for a few more years here in the states,my investments and income should grow my $300,000 to close to $500,000,but since i can work anywhere i can have an internet connection,don't

know if i should wait or just go.

what would be the lifestyle and necessities and safety net nest egg be like for someone with:

$100,000

$200,000

$300,000

etc.

Depends on your lifestyle. Some people live off of 30,000 Baht per month and others spend that in one night. If you have a Western lifestyle, you can spend $5,000 a month while if you like in moderate lifestyle, it can be $2,000 per month. As stated, some live quite comfortable with just $750 per month.

Why not come here for a couple months and then decide.

[BKK90210]

My advice

If you've always been thrifty, penny-wise, frugal or a saver......You probably will find a way to make it be enough for you

But if you've always been a consumer........no amount will be enough for you, doesn't matter where you want to live

Edited June 9, 2006 by BKK90210

[thaiknot]

thanks for the quick replies andi had looked into buying a condo to go towards the 3 million baht visa,but decided against it for now and want to just rent.actually like the idea of having $75,000 in thai bahts in a thai bank despite the low interest.not sure i want to invest in a condo which is illiquid and new laws or depreciation could hurt it.also know i dont want to live in bkk but not sure which beach area i will decide on.also my lifestyle is very basic-good food and a beautiful clean beach is all i really need and don't care about material goods,fashions,luxuries,etc.

[SunbeltAsia]

thanks for the quick replies andi had looked into buying a condo to go towards the 3 million baht visa,but decided against it for now and want to just rent.actually like the idea of having $75,000 in thai bahts in a thai bank despite the low interest.not sure i want to invest in a condo which is illiquid and new laws or depreciation could hurt it.also know i dont want to live in bkk but not sure which beach area i will decide on.also my lifestyle is very basic-good food and a beautiful clean beach is all i really need and don't care about material goods,fashions,luxuries,etc.

Just so you know, the interest rate is 4.5% on the fixed deposit for the extension of stay based investment.

www.lawyer.th.com.

[udon]

Stick to rentals and you can choose to move all over Thailand at your leisure.

How would you feel if you found that your neighbours were from hel.l after investing in a condo.

Good luck.

[thaiknot]

thanks for the quick replies andi had looked into buying a condo to go towards the 3 million baht visa,but decided against it for now and want to just rent.actually like the idea of having $75,000 in thai bahts in a thai bank despite the low interest.not sure i want to invest in a condo which is illiquid and new laws or depreciation could hurt it.also know i dont want to live in bkk but not sure which beach area i will decide on.also my lifestyle is very basic-good food and a beautiful clean beach is all i really need and don't care about material goods,fashions,luxuries,etc.

Just so you know, the interest rate is 4.5% on the fixed deposit for the extension of stay based investment.

www.lawyer.th.com.

thanks and that's better than most of my current saving accounts and cd's.will use your company to arrange my visa process and any future real estate investment.

[thaiknot]

Stick to rentals and you can choose to move all over Thailand at your leisure.

How would you feel if you found that your neighbours were from hel.l after investing in a condo.

Good luck.

that was exactly what i had decided on to do.rent and spend a few months in phuket,hua hin,koh

samui,etc.,then decide where i liked best to settle down in.i could easily live out of a couple suitcases with my laptop.

may even venture into vietnam as heard good things about it and with its entry into the wto and their booming economy,could be good ground floor investment opportunites there.read how its even cheaper there than in thailand and that they are probably a decade or two behind thailand in development and costs of living.

[ChiangMaiThai]

I know plenty of guys who have a few hundred grand in the bank and do nothing but go to the pool, the gym, the bar and the internet shop to manage their investments. None of them have 'real visas. Everyine just goes to the broder once a month. Kind of a grey area, but obviously more than tolerated by Thai immigration.

The amount you need all depends on how you want to live. I know guys who live on 10,000 baht a month. I know others who wouldn't think twice about spending that on a nice dinner and night out.

[JimsKnight]

My advice

If you've always been thrifty, penny-wise, frugal or a saver......You probably will find a way to make it be enough for you

But if you've always been a consumer........no amount will be enough for you, doesn't matter where you want to live

Here Here!

Above all remember to set a budget, stick to it and thailand can become a very very nice place to live out the rest of your days!

$300,000 invested will (assuming interest is at 5%) give you roughly 50K baht per month to play with! More than enough for careful spenders! My advice is save some more, then come on over. Once you are at 100,000 baht a month income you can start building up your empire here!

Enjoy!

[topfield]

My friend works at Santi Asoke in Bangkok.

His salary is Baht 3,000 a month but he gets food and a floor to sleep on.

ABOVE ALL he is happy.

PS He is a falang !

Edited June 18, 2006 by topfield

[rainman]

My friend works at Santi Asoke in Bangkok.

His salary is Baht 3,000 a month but he gets food and a floor to sleep on.

ABOVE ALL he is happy.

PS He is a falang !

you mean he's happy to still be alive?

[topfield]

My friend works at Santi Asoke in Bangkok.

His salary is Baht 3,000 a month but he gets food and a floor to sleep on.

ABOVE ALL he is happy.

PS He is a falang !

you mean he's happy to still be alive?

No he says he gets contentment being in the community.

His not , repeat not, a monk or in any religious order but very much a layman. like you and me.

[bendix]

i hope he doesnt rely on those pesky Thai Banks to convert his 3000 a month, topfield. He'd better be careful, or he may lose 30 baht a month from those cheats, huh?

[rainman]

My friend works at Santi Asoke in Bangkok.

His salary is Baht 3,000 a month but he gets food and a floor to sleep on.

ABOVE ALL he is happy.

PS He is a falang !

you mean he's happy to still be alive?

No he says he gets contentment being in the community.

His not , repeat not, a monk or in any religious order but very much a layman. like you and me.

if i only had 3000 baht income per month i'd seriously consider going back to my home country to get a better job and then come back to thailand later. you realize 3000 baht is even below the minimum wage requrement in thailand? so i assume he's working illegally as well..

[topfield]

i hope he doesnt rely on those pesky Thai Banks to convert his 3000 a month, topfield. He'd better be careful, or he may lose 30 baht a month from those cheats, huh?

Santi Asoke is a Thai community so he is paid in baht.