Old men, where in the world did all your money go

[mrfaroukh]

Good idea you want to write your book based on all these old people you are talking about, and then show them how smart you are and how they should save 63000 dollar in 20 years.

[Squeegee]

Troll must be loving this: how many pages since he last replied and you suckers are still talking to him. At least make him work for it....

[TheRascal]

Wow 120 replies so far!

Sorry this must be bulls***t.

Writing a book with the literacy of a 12yr old- maybe it's fashionable these days- no .

The best bit was living in luxury- well maybe if the OP lived in some truly ghastly Government housing full of crack dealers and then moved to a shack by the beach- maybe.

What did us old guys do- well we saved a heap of money into pension funds - and now enjoy a decent income for life- never stops and we can travel the world and have the luxury of never worrying too much about the future ( apart from the grim reaper of course, but as they say taxes and death are the only certainties in life )

ah, you missed the point that most 'young' people have literacy skills that stopped at the age when they got their first moblie phone m8, innit?

it should be a best seller to 'dakids'

It's not just the young folk who can't write - I worked on a project before I moved out to Thailand that involved communication with a lot of different people of all age groups. The level of literacy in the UK actually depressed me.

It's also not just the old folks frustrated by this kind of thing either. Also when did never having finished a book become a boast... this is something I've seen fairly often on Facebook - it's a pretty good indicator that person might not be my cup of tea so to speak.

[PHP87]

hehehehe 60,000 dollars really isn't that much, last 20 years maybe

If I did my math correctly, it would be more like 4-5 years.

60,000 USD

Figure 1200 a month for a single guy, depending where he lives and if he drinks, visits gogo bars, etc...

I think 1200 USD minimum per month for someone living in Chiang Mai and doesn't have many vices.

As for myself, I live in the SF Bay Area where the cost of living is sky high and saving money is very difficult.

I also spent my savings when my Mother was diagnosed with Brain Cancer and passed away after 6 months.

Even though she had insurance, there were costs that weren't covered which I covered.

I currently have about 20k USD saved and plan to have another 20k in savings when I retire in a few years.

I will also have a monthly Social Security check of about 1,800 USD per month that I will live on and I will probably try to generate a few hundred a month on the internet, but I've found that to be tough going so far.

I don't drink or smoke, but will get an occasional massage as well as visit a gogo bar once in a while.

I plan to live in Chiang Mai, but once I get a handle on my actual monthly expenses, I will probably re-locate somewhere else, depending on the cost of living.

So that is where this "old guy's" money went.

I may also move somewhere else in the US with a lower cost of living before heading off to the LOS so I can save more money.

Unless Social Security goes broke, I will have enough money to live on and will have a nest egg of about 30k USD as I figure it will cost my about 10k USD total to get a retirement Visa and to fly to Thailand and find a place to live and buy furnishings, clothing, etc...as well as a 125cc Scooter to run around town for short trips.

30k USD isn't much of a "nest egg,"especially if one gets sick and starts to run up medical bills.

If my savings gets below 5k, I will bail and return to the US and live on my SS in a state that has a low cost of living.

But I would also like to generate at least a few hundred a month on the internet and bank that money.

I currently live on about 1,700 a month in the SF Bay Area, so I should be able to live on a little more than that in CM in a few years.

Either way, you are too young for a Retirement Visa. I would have liked to move to Thailand 30 years ago, but it just wasn't possible and I doubt you will be able to do so.

Sorry to say, but you will have to wait like the rest of us. Save as much money as possible, then re-assess your financial situation when you turn 50 and see if you can make it financially and if you will have a monthly income like SS when you turn 62 or some other form of a guaranteed cash flow per month.

And have an exit plan so you're not living on the streets or worse, end up becoming a Phuket Frequent Flyer.

Good luck.

Edited June 3, 2014 by PHP87

[snottgoblin]

What kind of visa do you have? At 33 you're too young for retirement visa and no mention of a wife, which would eat up 400K of that 2 million for starters. Visa runs are now a no-no. I don't see how you can survive/stay in Thailand.

The OP probably has never even set foot in Thailand, but spends days on days, having virtual sex online and dreaming of Thai girls.

If he is indeed here, given his attitude it is likely to be a significant train wreck approaching.

I believe he generally hangs around under bridges, FWIW

[ironbark]

I spend all my money on boats, boys and booze ..... the rest I just waste

Seriously though, $1000 or B30000 a month you can live modestly but not great ... thats 60 months or 5 years, Unless you have additional income (and a work permit) your savings will not last anywhere near 20 years.

Edited June 3, 2014 by ironbark

[aboctok]

Yeah that's right, how could they resist him

OP, It's time to wake up, your plan whilst almost perfect doesn't take into account various things such as; healthcare, incidentals, visas, travel, airfares, inflation, taxes, replacement of equipment, clothing, common sense and so forth. Time to fly back home and see if your old boss will give you your old job of folding pamphlets back.

They really need to tighten conditions for Passports and visas. Poor Thailand, why do you attract so many winners.

Giving a fat Like for the common sense and the pamphlets.

Edited June 3, 2014 by aboctok

[neverdie]

What kind of visa do you have? At 33 you're too young for retirement visa and no mention of a wife, which would eat up 400K of that 2 million for starters. Visa runs are now a no-no. I don't see how you can survive/stay in Thailand.

The OP probably has never even set foot in Thailand, but spends days on days, having virtual sex online and dreaming of Thai girls.

If he is indeed here, given his attitude it is likely to be a significant train wreck approaching.

I believe he generally hangs around under bridges, FWIW

You speak wise words Snottgoblin, a train wreck, on it's way indeed.

A wise man once said, those whole fail to plan, plan to fail. Or words to that effect.

[joeydeacon]

What kind of visa do you have? At 33 you're too young for retirement visa and no mention of a wife, which would eat up 400K of that 2 million for starters. Visa runs are now a no-no. I don't see how you can survive/stay in Thailand.

The OP probably has never even set foot in Thailand, but spends days on days, having virtual sex online and dreaming of Thai girls.

If he is indeed here, given his attitude it is likely to be a significant train wreck approaching.

I believe he generally hangs around under bridges, FWIW

You speak wise words Snottgoblin, a train wreck, on it's way indeed.

A wise man once said, those whole fail to plan, plan to fail. Or words to that effect.

Mr Die, always a wise word. I doubt though that leosuntime will take heed of any advice, as he is far too much in love with himself .

[smotherb]

Got to laugh at the abuse on this site, its like racism in Texas "cooked just right".

Its incredible how personal everyone got at the beginning of this post, and then continuing to abuse someone who is obviously going through some sort of a mid-life crisis. Divorce etc...

In my opinion there is no set figure that you need to live on in any country, £40k could last 5 life times with the right attitude or it could last 5 minutes depending on your vices. For example you could find a nice little property with a bit of a land, invest in solar, irrigation systems and farming equipmen etc. Find a like minded partner who isn't interested in shiny things and live like a king whilst working on more entrepreneurial ventures like websites, novels and a small teak plantation to pay for retirement. This is something I would like to do myself but unfortunately it does not fit in with my children's education or wife's addiction to city living. I think the modern world has lost touch with reality when it comes to wealth, being rich should be having more than you need to survive. A lot of people on this site will never understand that a life of luxury means different things to different people. To them its just a nice condo, a bar girl and retirement visa, just like it said in the brochure. There are a lot of small minds on this site who don't realize that having health insurance and dental are NOT essential to life.

On another note I think you reacted far to aggressively to the post's on here and you will not get far here with that attitude.

Best of luck!

What five lifetimes on 40k sterling are you talking about? Sometime during the dark ages?

[arnold40844]

5 generations of monks in a Napalese temple, a farming community based on permaculture and renewable living or maybe setup a small Amish community in Chaing Mai, use your imagination, thats what its there for!

Got to laugh at the abuse on this site, its like racism in Texas "cooked just right".

Its incredible how personal everyone got at the beginning of this post, and then continuing to abuse someone who is obviously going through some sort of a mid-life crisis. Divorce etc...

In my opinion there is no set figure that you need to live on in any country, £40k could last 5 life times with the right attitude or it could last 5 minutes depending on your vices. For example you could find a nice little property with a bit of a land, invest in solar, irrigation systems and farming equipmen etc. Find a like minded partner who isn't interested in shiny things and live like a king whilst working on more entrepreneurial ventures like websites, novels and a small teak plantation to pay for retirement. This is something I would like to do myself but unfortunately it does not fit in with my children's education or wife's addiction to city living. I think the modern world has lost touch with reality when it comes to wealth, being rich should be having more than you need to survive. A lot of people on this site will never understand that a life of luxury means different things to different people. To them its just a nice condo, a bar girl and retirement visa, just like it said in the brochure. There are a lot of small minds on this site who don't realize that having health insurance and dental are NOT essential to life.

On another note I think you reacted far to aggressively to the post's on here and you will not get far here with that attitude.

Best of luck!

What five lifetimes on 40k sterling are you talking about? Sometime during the dark ages?

[neverdie]

What kind of visa do you have? At 33 you're too young for retirement visa and no mention of a wife, which would eat up 400K of that 2 million for starters. Visa runs are now a no-no. I don't see how you can survive/stay in Thailand.

The OP probably has never even set foot in Thailand, but spends days on days, having virtual sex online and dreaming of Thai girls.

If he is indeed here, given his attitude it is likely to be a significant train wreck approaching.

I believe he generally hangs around under bridges, FWIW

You speak wise words Snottgoblin, a train wreck, on it's way indeed.

A wise man once said, those whole fail to plan, plan to fail. Or words to that effect.

Mr Die, always a wise word. I doubt though that leosuntime will take heed of any advice, as he is far too much in love with himself .

THANKYOU for your kind words JD. It's nice to see another senior on the forum spreading and recognising experience.

Gentlemen such as us are rare indeed. Good day to you sir !

[duanebigsby]

thank you for the advice so far, some very good advice!

Inflation and health i have taken care of, im not planning on travelling much and i DONT want a gold digging whore of a gf... sry for the sterotype...

and way i have a sex friend who always insists on paying half, she is so sweet, we went to the movies, and she fed me popcorm the whole way through the movie, she strokes my face and lips all the time, idk why its kind of a fetish for her or something lol, if any one want to know about the yala girl, ;_; ill write an update, but u mean ppl were right, i didn't right an update because it the rude comments are so foul to the eyes. I dont mind a bit or sarcasim and scorn but rubbing people faces in the dirt is sickening, that leads me to why i dont wanna a go back to the west, i cant deal with western people any more. The place is unbearable. I will learn phython, html and write a few website designs that ive had in my mind for a few years, one similar to redit but much much better!! and another that is a dating website with a really special algorithm that im quite proud of!!!a

After your OP, I thought "what kind of book could he have written." After this post I realize not a coherent one by any means.

You really are very arrogant and condescending to many people who have experienced so much more in their lives.

2 million baht is really only good for 6 years, so these phantom endeavors you are so proud of will have to kick in quickly.

[JohnDodd]

Got to laugh at the abuse on this site, its like racism in Texas "cooked just right".

Its incredible how personal everyone got at the beginning of this post, and then continuing to abuse someone who is obviously going through some sort of a mid-life crisis. Divorce etc...

In my opinion there is no set figure that you need to live on in any country, £40k could last 5 life times with the right attitude or it could last 5 minutes depending on your vices. For example you could find a nice little property with a bit of a land, invest in solar, irrigation systems and farming equipmen etc. Find a like minded partner who isn't interested in shiny things and live like a king whilst working on more entrepreneurial ventures like websites, novels and a small teak plantation to pay for retirement. This is something I would like to do myself but unfortunately it does not fit in with my children's education or wife's addiction to city living. I think the modern world has lost touch with reality when it comes to wealth, being rich should be having more than you need to survive. A lot of people on this site will never understand that a life of luxury means different things to different people. To them its just a nice condo, a bar girl and retirement visa, just like it said in the brochure. There are a lot of small minds on this site who don't realize that having health insurance and dental are NOT essential to life.

On another note I think you reacted far to aggressively to the post's on here and you will not get far here with that attitude.

Best of luck!

All so very true. Great post. jd

[catweazle]

I bet the title of the book will be "20 Years of Grave Pissing with my Yala Sex Friend"

Just when you think you have seen it all...

Edited June 3, 2014 by catweazle

[snottgoblin]

I bet the title of the book will be "20 Years of Grave Pissing with my Yala Sex Friend"

Just when you think you have seen it all...

I'm guessing that his Yala Sex Friend, is in fact the name he's given his right hand.

[cosmont]

Retire with 2M baht, what a joke.

Just one advise, stop to dreaming dude

[smudger1951]

Let me ask you why you got into a relationship and whether you understood why a woman want to do that. Anyone expressing such ignorance has nothing to offer let alone pontificate. Lock the door and stick your face in that computer screen - idiot !

[schnazzy]

I think a lot of people are going to beat up on the OP as 2m baht is not a lot.

Your day-to-day expenses can be cheap, it's the INVENTORY and YEARLY expenses that creep up on you.

People forget these things in their calculations:

refresh of inventory (need a new cell phone every 3 years?, clothes, computer, tv, new-to-you scooter every 5 years, etc)

visa costs... Someone under 50, should figure 45k baht a year for all visa costs (pictures, renewals, border runs, new visas, edu visa, etc)

health insurance cost... you won't buy it and then you break something or are in the hospital for 2 weeks and bam, there goes 50k baht (200k if in a good hospital) this is 10-15k a year at the cheap end for catastrophic.

costs go up! if you are not calculating 3% costs per year. you need to factor that.

if you had 12m in an annuity in the west, you could live off the payments. Something like 45k hath to 60k baht a month. Haven't looked in a while.

but note, this doesn't include inflation. so, in 20 years, the money will feel-like 25k baht

you may also find that if you go to Thailand for any length of time 3+ years, trying to go back into the job market back home might be tough. things change and people rather hire those that are working for someone else and not "laid out on a beach for 3 years. (jealousy or just thinking you are lazy). Also as you age, it is just harder to get a job that pays much more than the minimum. people will hire 24 year olds more than 44 year olds for a variety of reasons (even if it is illegal to discriminate).

Another option if you think, you will "figure something out" and essentially gamble your life savings and your ability to live well in more advanced years, is just "invest" that money in the lotto. Might be a better option kidding aside, save more money, be realistic in your calculations, go on vacation for 3+ months and calculate every baht you spent and be honest. That is your day-to-day expense. Then add up all the THINGS you have and figure out their "lifetime" and their replacement cost.

[John Clarke]

Yes, I see you are 33 years young. I am now 60 and lost everything (business, marriage, home,life savings at age 50).

I have 2 daughters aged 26 and 29..

Short answer is I have many skills, but in the west no one really wants to employ a bankrupted bloke, no matter his skills.

So do not judge to harshly those poor men you see, they all have a story.

By the way, at age 33 I owned my own home at the then value of 12,000,000 baht (1989)

:-) :-(

[ota101]

This so funny.

[ota101]

I admire the men who saved and planned. I, a graduate of the Woodstock Festival and the school of hard knock didn't think of how much less ability you have when you reach your 60's. Wishing you do because your future self will appreciate the love of family and an income for life be it 65 or 95.

I envy your idealist atitude. Ignorance is bliss.

[catweazle]

I'd like to see that binary code you are so proud of given that you seem to have problems not only with your temper and attitude, but simple math. Retiring on 2m THB is one of the most pathetic jokes I ever read here on T.V.

[MRYANG]

01. The abuse from all of you is partly funny, partly tragic. Is this the best you can do?

02. If one can't survive in Thailand with work, FL projects and 2 million Bath in backup, one can wonder how the locals do it. Surely it's then "possible".

03. Neither of you can't use math properly. European stock-market rose 8.3% average during the last 20 years. Inflation 1.5%. Net difference makes for an "interest-based" living 11125B for beginning of year 2, excluding the income for the current work, let's say 20000B/month. So that would make for an average living of about 31000B/month, which I would say is "fair" giving a cheap living standard.

04. One should never compare how other survive or live, coz it can me done in 10 billion different ways. Some people live for the day. Other people try to survive. Either way, it's up to you.

05. If I had 2 million in reserves I would invest them in a living of some kind. Because population growth is faster than allocated global resources, property will always increase in value.

06. If you want love in life, get a woman and a baby. If you want to stay cheap and trouble free, don't.

07. Some of you have been in this forum so long that cynical and dystopic answers come automatically. Isn't it time for you to move on? Or you really feel your input is making this forum better?

Take care out there.

Edited June 4, 2014 by MRYANG

[snottgoblin]

I don't think I'll be taking financial advice of Mr Yang.

[JB300]

Perhaps they also thought 2MB would last 20 years?

Sent from my GT-I9500 using Thaivisa Connect Thailand mobile app

Or maybe they thought that nobody would ever need more than 64KB...

Sorry, crappy IT Joke (if you have to explain it, it's not funny) based on something Bill Gates once said about memory in PCs, but there does seem to be a parallel here.

[catweazle]

01. The abuse from all of you is partly funny, partly tragic. Is this the best you can do?

02. If one can't survive in Thailand with work, FL projects and 2 million Bath in backup, one can wonder how the locals do it. Surely it's then "possible".

03. Neither of you can't use math properly. European stock-market rose 8.3% average during the last 20 years. Inflation 1.5%. Net difference makes for an "interest-based" living 11125B for beginning of year 2, excluding the income for the current work, let's say 20000B/month. So that would make for an average living of about 31000B/month, which I would say is "fair" giving a cheap living standard.

04. One should never compare how other survive or live, coz it can me done in 10 billion different ways. Some people live for the day. Other people try to survive. Either way, it's up to you.

05. If I had 2 million in reserves I would invest them in a living of some kind. Because population growth is faster than allocated global resources, property will always increase in value.

06. If you want love in life, get a woman and a baby. If you want to stay cheap and trouble free, don't.

07. Some of you have been in this forum so long that cynical and dystopic answers come automatically. Isn't it time for you to move on? Or you really feel your input is making this forum better?

Take care out there.

Think you missed the point here, Mr. Yang. This thread and all the (partially) insulting posts are a result of the ignorant, arrogant, aggressive and naive childish attitude the author of the original post has expressed in this and other, previous posts. This all, combined with an early retirement plan on a mere 2m THB of backup stash is just hilarious.

You can crunch numbers as much as you want, but the result will still be: "mission impossible". You also should do a bit more research and get down NOT to inflation rates presented to you by puppet politicians and so-called market researchers, but the true numbers which are downright shocking, due to banks and governments creating money out of thin air and simply printing more if the river runs dry.

Our Mr. Leo Sun Time here will certainly have some rough 20 years ahead, taking into account that he hardly will find an employer since he might tell the future boss in his job interview that he will piss on his grave, as soon as the boss says something, he don't wanna hear...

Edited June 4, 2014 by catweazle

[catweazle]

I don't think I'll be taking financial advice of Mr Yang.

Who would?

[MRYANG]

To OP:

I say again Leosuntime - No matter your question or thought - you and any member are always welcome to share your thoughts. It might be naive, childish, arrogant and maybe even stupid - but the combined maturity and level of expertise far exceeds any emotional "uprising" some might have here. Because that too, could be the result of a bad hair day.

Catweazle -> Your assumptions about me will fail you. But don't let us start getting into polemics, for that there are far better contestants in this thread already spoken.

[alanrchase]

01. The abuse from all of you is partly funny, partly tragic. Is this the best you can do?

02. If one can't survive in Thailand with work, FL projects and 2 million Bath in backup, one can wonder how the locals do it. Surely it's then "possible".

03. Neither of you can't use math properly. European stock-market rose 8.3% average during the last 20 years. Inflation 1.5%. Net difference makes for an "interest-based" living 11125B for beginning of year 2, excluding the income for the current work, let's say 20000B/month. So that would make for an average living of about 31000B/month, which I would say is "fair" giving a cheap living standard.

04. One should never compare how other survive or live, coz it can me done in 10 billion different ways. Some people live for the day. Other people try to survive. Either way, it's up to you.

05. If I had 2 million in reserves I would invest them in a living of some kind. Because population growth is faster than allocated global resources, property will always increase in value.

06. If you want love in life, get a woman and a baby. If you want to stay cheap and trouble free, don't.

07. Some of you have been in this forum so long that cynical and dystopic answers come automatically. Isn't it time for you to move on? Or you really feel your input is making this forum better?

Take care out there.

You may like to rethink your maths. OP stated 2MB would last 20 years without the need to work. Stock market may have averaged an 8.3% rise over the last 20 years but this figure is compounded and requires nothing being taken out over that period. If you are taking 5% out each year the return would be a lot lower. If you were unfortnate and markets had a couple of bad years at the start and you took 5% out as well it would be hard to recover from.

Sent from my GT-I9500 using Thaivisa Connect Thailand mobile app