Too Young to Retire to Live...Now What?

[anon676545345]

If you have your ~US$2 million pot silted away already, why on earth is 500k baht such a formidable outlay?

Think of it as an 'investment' in being able to park your arse somewhere.

USD 15k "investment" out of a USD 2.0 million piggy bank is nothing in the scheme of things, and 5 years hassle free visa's (THB 270/day - less than minimum wage in Thailand)

lets put another perspective on this, if you invested your USD 2.0 million in a crappy 2.5% p.a. saving account, (which you wouldnt) if my off the top of my head rough calculation is correct you would have recovered your initial out lay of USD 15k in a little over 3 months, so all one has took is a "knock" of 3 months on your interest to give you 5 years on your visa, seems very viable to me, provided someone has the USD 2.0 million piggy bank of course

I am sure someone will check my numbers and correct me if I am wrong

I've got nowhere near $2 mill and never intimated that I have, that was a figure the guy who previously quoted my post pulled out of thin air.

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I didn't pull the numbers out of thin air or my arse. My quick and dirty arithmetic is based on what YOU stated in an earlier post as follows:

I'm in a very similar position I'm 34 and draw a similar income from the UK which I spend in Thailand though I'm not rich I consider 100,000bhat a month in Thailand allows me to lead a life that I'm comfortable with. I've considered and am still considering the elite card but it would mean realocating funds which aside from being a pain in the ass would efectivly be throwing 500,000bhat down the drain and lets be honest no one really want's to lay out that much for zero return.

You are 34 so barring accidents, engaging in risky sports or undisclosed hereditary medical factors, you are good for another 50 years.

You reckon 100k baht per month would be adequate.

So, using YOUR numbers, 50 (years) x 12 (months) x 100,000 (baht) = 60,000,000 baht.

Or about US$1.8 million (sorry I rounded up in my earlier post... that 200 grand could be critical).

Are you still with me? Good.

Now when I meant 'silted away', I didn't necessarily mean that you have that lump-sum right here and right now. Otherwise, you wouldn't be debating if a 500k baht hit is going to mean more nights at home eating TV dinners (or the Thai equivalent). Or considering the ED visa.

Maybe the word 'retired' that's being increasingly bandied about here by younger and younger people isn't the same 'retirement' that us old buggers are familiar with. The Oxford English Dictionary definition of retired. For example, Mr Henderson retired from being my Primary School headmaster after almost 35 years teaching. What did Mr (and Mrs) Henderson do when he retired? He did a lot of fishing and gardening and not much else. They already owned a nice big house with a lovely garden and a greenhouse. They bought a new luxury car roughly every two years although they hardly drove much. They took one long summer holiday each year, mostly in Europe but once each to Australia (visiting the children as grandparents do) and America (for the experience). He donated to the Church (became a deacon or something) and was founding Chairman of the local branch of the Royal British Legion. But above all this, he did a lot of fishing and gardening and not much else. He was RETIRED.

What I have seen of these new-age retirees is they all need a fast and reliable Internet connection. It's probably the highest priority item on the things needed to survive in LOS. Why? Is it because they don't like fishing or gardening and just burn endless hours looking at stuff, doing emails and participating in forums? I think they are probably still working.

Just because you are not doing the 9-5 you used to be doing but are buying and selling stuff or playing the market or blogging or freelance writing or doing coding jobs or programming or designing websites, it does not mean by any stretch of the imagination that you are retired. In the Mr Henderson definition of retired that is... doing passive things, purely for your pleasure and not much else.

So, based on my arithmetic, Mr. Henderson's story and the fact that you have to really consider the expense of the Elite 'lite' card, are you really retired?

There are a lot of assumptions there posed in a slightly condescending manner. Though you are right I guess stating that I was semi retired wasn't really the best way to put it.

As for the rest I don't want to nor do I feel the need to explain my life story on a forum. I'm in Thai visa bar quite often and am happy to chat over a couple of beers. I'

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[Berkshire]

The one thing common to all these new visa rules threads is someone saying ' why do you think u should be allowed to stay in Thailand when thousands of poor third worlders can't go live in UK/US/Canada/EU/Oz. The simple difference is we don't want or expect anything. We are happy to pay our way. Be it for food, accom, entertainment or medical. We pay VAT on purchases and bring cash into the economy from overseas. Okay many of us aren't 50 but we spend money here and often support Thais. To disinfranchise thousands of 'wealthy' expats.is madness. This is exactly the demographic most countries are trying to attract.

It is this sort of pompous and delusional attitude that makes me have very little sympathy for people of your lot. Firstly, there are a tiny number of truly "wealthy" expats being impacted. Less than 1% and that's being generous. Most are barely getting by, such as yourself. "The demographic that most countries are trying to attract?" Do you think that a rich Thai or Chinese can just get a free pass to live in the USA for as long as they want?

I have much more sympathy for the poor Cambodian or Burmese who come to Thailand out of desperation, willing to do anything to help support their families back home. They have my sympathy and support. For the free-loaders who feel a certain sense of entitlement and think that the laws shouldn't apply to them, go home. Or go to these countries that you think are trying to attract people such as yourself.

[farang000999]

For the free-loaders who feel a certain sense of entitlement and think that the laws shouldn't apply to them, go home. Or go to these countries that you think are trying to attract people such as yourself.

Who is a free loader in Thailand? I'm confused.

[JLCrab]

The query it seems:

I do not meet any of the current visa and/or extension requirements for long term stay in Thailand; how can I stay long-term in Thailand?

[farang000999]

The query it seems:

I do not meet any of the current visa and/or extension requirements for long term stay in Thailand; how can I stay long-term in Thailand?

Pretty much. Obviously there are still currently ways to scam the system. But assuming that the Thai Immigration follows through and really cleans house, these people will have to choose if it is worth 500,000 baht to live in Thailand full time...

but first you will see a lot of fake marriages and education visas.

[duanebigsby]

The query it seems:

I do not meet any of the current visa and/or extension requirements for long term stay in Thailand; how can I stay long-term in Thailand?

Or....I want to work illegally online; what visa or way to stay can I use as a front for my business?

[NanLaew]

I am married and semi-retired.

After my last Non-B's for business expired (Plan- and no other work coming up on the Thai market, I availed my self legally of a Non-O and a subsequent couple of marriage extensions. It was a sound Plan-C and fitted my needs.

They are a bit of a chore when it comes to paperwork, approval times and requiring my wife to tag along so despite the higher fiscal proof requirement, I 'converted' to a retirement extension. So Plan-D was born and is in effect.

Now that the 'new-improved' Thai Elite option is available, I am pretty sure that I will 'convert' to that. Changing from the 800k baht annual surety to a 500k baht purchase of 5-years peace and quiet? That's Plan-E.

I totally agree that there are no guarantees and certainties with Thai Immigration but the same can be said for life in general. I may get killed in a car crash or win the lottery with mostly equal amounts of probability. Until such time though, I still have a sustaining Plan-A in place which is if it all goes pear-shaped, even after 35 years of living all over the world (but mostly in LOS), I go back home to the UK.

PS. I just saw an article in the Telegraph that claims that 1 in 10 pensioners in the UK are millionaires. Wow! I won't be alone then when I up-sticks and Plan-A myself back to the clan cave.

[maanoi]

I have been waiting for someone to post something like this as I am too in a very similar situation and see very little practical advice from people actually doing something. Myself, I have come to these conclusions.

I am too busy to go to school and I am not gonna just get married for a visa, the only thing really left are two options.

1. Go to your home country and apply for a one year multi-entry business visa. I have a friend that did this a couple years ago with no hassle, he said he was planning to start a company in Thailand and they gave him a one year 90 day per entry business visa to do research in the country to start his business.

2. Actually start or buy a company. I am leaning towards this one as I don't want to even be bothered going back once a year and I don't want the chance to get denied a business visa. I already have companies in both China and Hong Kong but I don't know that much about the limitations and workings of a Thai company so for both myself and the original poster let me ask some questions to the forum about this.

- Can a company a foreigner owns basically do anything? For example, could I own a small bar, coffee shop or restaurant and have a staff of 4 people and that gets me the working visa? Of course as long as the place didn't take much work and didn't lose money that is a decent option.

- If you open a company does the first foreign visa come without 4 staff or do you need 4 staff to even secure 1 foreign working visa?

Of course I'm gonna wait to see how hard core they get about the whole thing but if you have enough money to throw 500,000 THB for elite status, it would only cost maybe 100,000 - 200,000 to have some business that could hopefully break even every year and maintain your visa.

Now, I have not done this in Thailand so I am in the position for people to shoot my theory down if they have real experience.

Most businesses you will have to put in more than 500k to get going and then it may run at a loss and cost even more.

IMO you're better of paying dor the elite card rather than setting up a business.

I'm in the same situation. My plan is just to get married on paper with the gf. We wont have a ceremony or anything. Just get it done on paper and then 400k in the bank for the 1yr extension.

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[WonnabeBiker]

I've been in a similar situation for years, before starting to work. (Had overseas income, was just basically living here. Am married - but there are paperwork issues costing a 6-figure amount in Baht and I refuse to go there for some b.s. "certificate allowing me to get married" when I've been married for years (in China).

This crackdown is just dealing with employees etc. When I started working, our school sent all foreign teachers on a Visa run. Some later got a B-Visa and a WP. But that's when I encountered the messy issues when dealing with Thai adminsitrators.

• some don't know a fake degree when it bites them. Google FAMCARE INTERNATIONAL for example.
• then there is a deadline and once my B-Visa expired before the school got round to changing my status at Immigration.
• => suddenly, one is back, working on a T-Visa. It happens.
• Later, I worked at a school which never bothered with B-Visa, WP etc. (As they collect money "for the foreign teachers" and those rely on frequent Visa-runs, I wonder how they will be operating in future?)

Cui bono - who benefits?

It takes two to tango. And corrupt employers should be targeted as well!

AFAIK, the hapless TEFLer gets fined 100,000 B and depoted. While the Thai employer pays a 10,000 B fine. Fair?

NES have been replaced by non-NES at all my schools. Can't pretend to be a judge of people's ability to speak English, but some are not suited for such a position IMHO. Turns out one such guy has a tOEIC score in the low 500s. Now tell me how this is legal?!?

***

OP: can you establish a residence in Cambodia and just come and go? Cambodia sells an annual Visa... Just a thought.

[VocalNeal]

I applied for and was told I would receive a multi entry but when I picked it up I'd received a single entry which is useless as I have to return home to see the family in a couple of months.

You can get a re-entry permit at the airport.

[mrtoad]

I applied for and was told I would receive a multi entry but when I picked it up I'd received a single entry which is useless as I have to return home to see the family in a couple of months.

You can get a re-entry permit at the airport.

Correct

1,000 baht for a single re-entry or 3,900 for a multiple rentry permit -

Think there might be a scamcharge at the airport, so going to the local immigration office is better

[Dogmatix]

Personally I wouldn't go for the Elite card, if under 50 and independently wealthy enough to retire in Thailand without ever having to work again. Perhaps the original one at B1million for life and no monthly dues but not the current one for 20 years at B2million plus B20,000 annual fees. Anyway it was a Thaksin brain child that has cost the taxpayer a bundle with a lot of leakage and was about to be axed by the Abhisit govt when they lost the election and revived by Yingluck. It could be axed at any time. I would rather sink B10million into a condo (of some in a condo and the balance in govt bonds) and get annual investment extensions.

I have just seen that there is no a B500k Easy Access 5-year elite card. I might consider that option but would still prefer the investment visa, if I had the B10million. You would be grandfathered in at B10million, if they were to increase it, as happened when it went back up to B10million from the temporary rate of B3million, but the Elite card is a political issue that could get torpedoed without much notice. It is easy to justify terminating it because it is loss making and prone to corruption, while there is only a very small number of holders, whereas there is no cost to the taxpayer from the investment extensions and the benefits are clear cut. I wouldn't be surprised to see the Elite card scrapped and a longer-term investment visa issued in its place like the Malaysian scheme.

Edited July 19, 2014 by Dogmatix

[SpankTheLing]

The stupidity of people thinking you need two million dollars under their mattress before they can retire is mind blowing. Yes, they may require 60 million baht over 50 years but they certainly don't need it today.

500k baht is still 500k baht and someone contemplating retireing early should think long and hard about how they spend that sort of cash. Especially when the scheme is not thoroughly tested and appears to come with dubious reliability.

Personally, I think an ED Visa... especially if you have some intention of actually attending some of the lessons and learning a bit, would be a much better option for me at the moment. Not sure I will do this for up to 8 years though.

[ukrules]

Personally I wouldn't go for the Elite card, if under 50 and independently wealthy enough to retire in Thailand without ever having to work again. Perhaps the original one at B1million for life and no monthly dues but not the current one for 20 years at B2million plus B20,000 annual fees. Anyway it was a Thaksin brain child that has cost the taxpayer a bundle with a lot of leakage and was about to be axed by the Abhisit govt when they lost the election and revived by Yingluck. It could be axed at any time. I would rather sink B10million into a condo (of some in a condo and the balance in govt bonds) and get annual investment extensions.

I have just seen that there is no a B500k Easy Access 5-year elite card. I might consider that option but would still prefer the investment visa, if I had the B10million. You would be grandfathered in at B10million, if they were to increase it, as happened when it went back up to B10million from the temporary rate of B3million, but the Elite card is a political issue that could get torpedoed without much notice. It is easy to justify terminating it because it is loss making and prone to corruption, while there is only a very small number of holders, whereas there is no cost to the taxpayer from the investment extensions and the benefits are clear cut. I wouldn't be surprised to see the Elite card scrapped and a longer-term investment visa issued in its place like the Malaysian scheme.

I have no problem buying a 5 year elite card for 500k as it saves lots of money and time on unnecessary travel which more than pays for itself in just a couple of years in my case but I would have serious reservations about investing 10 Million Baht in the available overpriced property in Thailand. In fact I have no plans to ever buy any property in Thailand. The whole industry is full of overpriced scammers, lawyers who randomly steal your property, etc.

Now they're cracking down on people doing these back to back visas I suspect a lot of people will opt for the 500k Elite Easy Access membership.

I've done a 1 year Ed visa, many tourist visas and plenty of visa exempt entries over the past few years. Just doing the travel was very tedious and it can easily cost more than 100k a year, especially if you add 1 business class trip a year back to Europe or the US to get a triple entry tourist visa which generally isn't available in Asia.

I had no idea the Easy Access membership was available until very recently. When I found out about it on this forum I applied and had the visa within a month. I then cancelled a planned trip to Europe which saved me 150,000 Baht so I'm already ahead.

In my opinion even in the highly unlikely event that they cancel the Elite program which has been running for 11 years now if you already have the visa you can continue to use it regardless of whether they are issuing new memberships or not.

Edited July 19, 2014 by ukrules

[sambatsmith]

I think what the OP is saying is that Thailand cracking down on visas will ultimately harm the country. This guy comes here on a tourist visa as a genuine tourist spending a lot of money by Thai standards that he earns elsewhere. He probably rents a decent property from a Thai and no he should not take it lightly marrying someone. There are people here in Thailand doing no harm committing no crimes spending a lot of money earned elsewhere on enjoying thailand keeping the tourist economy thriving. Thailand needs a better system to tackle the criminals and illegal workers. Maybe tackle the companies happy to employ illegal workers, maybe tackle the excessively bureaucratic system that means its time consuming and expensive to employ foreign workers with the skills thailand needs such as teachers and other professionals. Thailand is about to face huge problems when the tourists/ residents up and leave and the condos and houses they rent lie empty and the street dogs the foreigners look after and donate money to stop getting help what will the country do then? There are businesses here that rely on the long term tourists like car rental, bike rental, condo and villa rental all things that local Thais don't do but rely on the income from. There isn't a visa this guy can get. Why would he open a business in this uncertain climate? He's way too young for retirement visa. When a country thrives on foreign money and expenditure they need to be extremely careful with the doors they are closing to people here to enjoy the climate local food and beautiful scenery.

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[mrtoad]

The stupidity of people thinking you need two million dollars under their mattress before they can retire is mind blowing. Yes, they may require 60 million baht over 50 years but they certainly don't need it today.

500k baht is still 500k baht and someone contemplating retireing early should think long and hard about how they spend that sort of cash. Especially when the scheme is not thoroughly tested and appears to come with dubious reliability.

Personally, I think an ED Visa... especially if you have some intention of actually attending some of the lessons and learning a bit, would be a much better option for me at the moment. Not sure I will do this for up to 8 years though.

2 million IMO is not a large sum.to base retirement on though is it?

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[SpankTheLing]

I reckon that it depends on what sort of monthly budget you are going to be happy with.

Personnally I would be happy with 120k baht per month given I own my own condo. The OP was happy with 100k Baht/month. 2 million dollar investment returning 4% and you are looking at 200k baht/month ... roughly.

I would rather retire 5-10 years earlier than chase another million dollars.

The stupidity of people thinking you need two million dollars under their mattress before they can retire is mind blowing. Yes, they may require 60 million baht over 50 years but they certainly don't need it today.

500k baht is still 500k baht and someone contemplating retireing early should think long and hard about how they spend that sort of cash. Especially when the scheme is not thoroughly tested and appears to come with dubious reliability.

Personally, I think an ED Visa... especially if you have some intention of actually attending some of the lessons and learning a bit, would be a much better option for me at the moment. Not sure I will do this for up to 8 years though.

2 million IMO is not a large sum.to base retirement on though is it?

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[rgs2001uk]

The stupidity of people thinking you need two million dollars under their mattress before they can retire is mind blowing. Yes, they may require 60 million baht over 50 years but they certainly don't need it today.

500k baht is still 500k baht and someone contemplating retireing early should think long and hard about how they spend that sort of cash. Especially when the scheme is not thoroughly tested and appears to come with dubious reliability.

Personally, I think an ED Visa... especially if you have some intention of actually attending some of the lessons and learning a bit, would be a much better option for me at the moment. Not sure I will do this for up to 8 years though.

2 million IMO is not a large sum.to base retirement on though is it?

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$2 million equals 60 million baht.

Investing in the UK property market, 30 million baht will give an income of 100k baht per month, lets keep it simple, a 200k Pounds house (10 million baht) will provide 40,000 baht per month income, ergo 3 houses with an outlay of 30 million baht provides 100k baht per month income.

Thats about 4% return, not taking into account capital appreciation on the house or future rental prices.

[mrtoad]

The stupidity of people thinking you need two million dollars under their mattress before they can retire is mind blowing. Yes, they may require 60 million baht over 50 years but they certainly don't need it today.

500k baht is still 500k baht and someone contemplating retireing early should think long and hard about how they spend that sort of cash. Especially when the scheme is not thoroughly tested and appears to come with dubious reliability.

Personally, I think an ED Visa... especially if you have some intention of actually attending some of the lessons and learning a bit, would be a much better option for me at the moment. Not sure I will do this for up to 8 years though.

2 million IMO is not a large sum.to base retirement on though is it?

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

$2 million equals 60 million baht.

Investing in the UK property market, 30 million baht will give an income of 100k baht per month, lets keep it simple, a 200k Pounds house (10 million baht) will provide 40,000 baht per month income, ergo 3 houses with an outlay of 30 million baht provides 100k baht per month income.

Thats about 4% return, not taking into account capital appreciation on the house or future rental prices.

RG, excuse my ignorance, that is based on my phone screen, easier to read on the tablet. $2 million is perfectly acceptable to have a nest egg and work it on investments. My bad, too much time looking at the scratchers that look at 2 million baht as something to attain to. Edited July 19, 2014 by mrtoad

[farang000999]

You guys realize that this analysis means the person will never spend the initial $2m in their lifetime...

[mrtoad]

You guys realize that this analysis means the person will never spend the initial $2m in their lifetime...

I certainly could.

[mrtoad]

You guys realize that this analysis means the person will never spend the initial $2m in their lifetime...

I certainly could.

[Soutpeel]

I reckon that it depends on what sort of monthly budget you are going to be happy with.

Personnally I would be happy with 120k baht per month given I own my own condo. The OP was happy with 100k Baht/month. 2 million dollar investment returning 4% and you are looking at 200k baht/month ... roughly.

I would rather retire 5-10 years earlier than chase another million dollars.

The stupidity of people thinking you need two million dollars under their mattress before they can retire is mind blowing. Yes, they may require 60 million baht over 50 years but they certainly don't need it today.

500k baht is still 500k baht and someone contemplating retireing early should think long and hard about how they spend that sort of cash. Especially when the scheme is not thoroughly tested and appears to come with dubious reliability.

Personally, I think an ED Visa... especially if you have some intention of actually attending some of the lessons and learning a bit, would be a much better option for me at the moment. Not sure I will do this for up to 8 years though.

2 million IMO is not a large sum.to base retirement on though is it?

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

So one assumes by one of your remarks you have already made your first million cash in the bank then ?

Actually if talk to any decent financial people the USD 2.0 million number is the one most thrown around by them as regards the sort of sum that is needed ?

I know my financial/retirement planning which was done by a professional also showed I needed about 1.9 million in my piggy bank to ensure a stress free retirement, and I can assure you the person who did all this for me is far from stupid, so who I am inclined to believe as to who is stupid you ? Or a professional financial planner ? My money is on the financial guy

[mrtoad]

I reckon that it depends on what sort of monthly budget you are going to be happy with.

Personnally I would be happy with 120k baht per month given I own my own condo. The OP was happy with 100k Baht/month. 2 million dollar investment returning 4% and you are looking at 200k baht/month ... roughly.

I would rather retire 5-10 years earlier than chase another million dollars.

The stupidity of people thinking you need two million dollars under their mattress before they can retire is mind blowing. Yes, they may require 60 million baht over 50 years but they certainly don't need it today.

500k baht is still 500k baht and someone contemplating retireing early should think long and hard about how they spend that sort of cash. Especially when the scheme is not thoroughly tested and appears to come with dubious reliability.

Personally, I think an ED Visa... especially if you have some intention of actually attending some of the lessons and learning a bit, would be a much better option for me at the moment. Not sure I will do this for up to 8 years though.

2 million IMO is not a large sum.to base retirement on though is it?

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

So one assumes by one of your remarks you have already made your first million cash in the bank then ?

Actually if talk to any decent financial people the USD 2.0 million number is the one most thrown around by them as regards the sort of sum that is needed ?

I know my financial/retirement planning which was done by a professional also showed I needed about 1.9 million in my piggy bank to ensure a stress free retirement, and I can assure you the person who did all this for me is far from stupid, so who I am inclined to believe as to who is stupid you ? Or a professional financial planner ? My money is on the financial guy

SP, it 'twas a mistake by using my phone. 2 mil is a fine sum to be working towards.

I've spent too much time today looking at those worrying about 500 thousand or 2 Million Baht.

If said person has that, should be absolutely fine.ppp

Will crawl off under a stone for 5 minutes

[Soutpeel]

You guys realize that this analysis means the person will never spend the initial $2m in their lifetime...

I certainly could.

Of course setting up a TGAU factory ain't cheap these days, the labour costs are horrific, of course on could consider getting rid of the Cambodian workers and taking on destitute "English" teachers as I am sure they will do anything for a long term visa, including QA/QC testing TGAU's

[Soutpeel]

I reckon that it depends on what sort of monthly budget you are going to be happy with.

Personnally I would be happy with 120k baht per month given I own my own condo. The OP was happy with 100k Baht/month. 2 million dollar investment returning 4% and you are looking at 200k baht/month ... roughly.

I would rather retire 5-10 years earlier than chase another million dollars.

The stupidity of people thinking you need two million dollars under their mattress before they can retire is mind blowing. Yes, they may require 60 million baht over 50 years but they certainly don't need it today.

500k baht is still 500k baht and someone contemplating retireing early should think long and hard about how they spend that sort of cash. Especially when the scheme is not thoroughly tested and appears to come with dubious reliability.

Personally, I think an ED Visa... especially if you have some intention of actually attending some of the lessons and learning a bit, would be a much better option for me at the moment. Not sure I will do this for up to 8 years though.

2 million IMO is not a large sum.to base retirement on though is it?

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

So one assumes by one of your remarks you have already made your first million cash in the bank then ?

Actually if talk to any decent financial people the USD 2.0 million number is the one most thrown around by them as regards the sort of sum that is needed ?

I know my financial/retirement planning which was done by a professional also showed I needed about 1.9 million in my piggy bank to ensure a stress free retirement, and I can assure you the person who did all this for me is far from stupid, so who I am inclined to believe as to who is stupid you ? Or a professional financial planner ? My money is on the financial guy

SP, it 'twas a mistake by using my phone. 2 mil is a fine sum to be working towards.

I've spent too much time today looking at those worrying about 500 thousand or 2 Million Baht.

If said person has that, should be absolutely fine.ppp

Will crawl off under a stone for 5 minutes

Toadie, I quoted the wrong post anyway sorry , not directed at you but "spank the monkey"

[mrtoad]

I hope RG and SP will cut me some slack

[kevozman1]

I reckon that it depends on what sort of monthly budget you are going to be happy with.

Personnally I would be happy with 120k baht per month given I own my own condo. The OP was happy with 100k Baht/month. 2 million dollar investment returning 4% and you are looking at 200k baht/month ... roughly.

I would rather retire 5-10 years earlier than chase another million dollars.

The stupidity of people thinking you need two million dollars under their mattress before they can retire is mind blowing. Yes, they may require 60 million baht over 50 years but they certainly don't need it today.

500k baht is still 500k baht and someone contemplating retireing early should think long and hard about how they spend that sort of cash. Especially when the scheme is not thoroughly tested and appears to come with dubious reliability.

Personally, I think an ED Visa... especially if you have some intention of actually attending some of the lessons and learning a bit, would be a much better option for me at the moment. Not sure I will do this for up to 8 years though.

2 million IMO is not a large sum.to base retirement on though is it?

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

So one assumes by one of your remarks you have already made your first million cash in the bank then ?

Actually if talk to any decent financial people the USD 2.0 million number is the one most thrown around by them as regards the sort of sum that is needed ?

I know my financial/retirement planning which was done by a professional also showed I needed about 1.9 million in my piggy bank to ensure a stress free retirement, and I can assure you the person who did all this for me is far from stupid, so who I am inclined to believe as to who is stupid you ? Or a professional financial planner ? My money is on the financial guy

What kind of financial people are they then? It obviously comes down to lifestyle, what age one is retiring and what other kinds of income the person in question will also be receiving. Two million dollars in the bank or invested in property with a pension for some would be a dream retirement. For a jet setter playboy type who has been used to purchasing a new Yacht every other year and driving around in super cars would probably seem like a near poverty retirement.

It obviously comes down to the individual and their lifestyle. Unless you like paying financial types to give you an arbitrary number. They sure don't mind the easy money.

number

[Soutpeel]

I reckon that it depends on what sort of monthly budget you are going to be happy with.

Personnally I would be happy with 120k baht per month given I own my own condo. The OP was happy with 100k Baht/month. 2 million dollar investment returning 4% and you are looking at 200k baht/month ... roughly.

I would rather retire 5-10 years earlier than chase another million dollars.

The stupidity of people thinking you need two million dollars under their mattress before they can retire is mind blowing. Yes, they may require 60 million baht over 50 years but they certainly don't need it today.

500k baht is still 500k baht and someone contemplating retireing early should think long and hard about how they spend that sort of cash. Especially when the scheme is not thoroughly tested and appears to come with dubious reliability.

Personally, I think an ED Visa... especially if you have some intention of actually attending some of the lessons and learning a bit, would be a much better option for me at the moment. Not sure I will do this for up to 8 years though.

2 million IMO is not a large sum.to base retirement on though is it?

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

So one assumes by one of your remarks you have already made your first million cash in the bank then ?

Actually if talk to any decent financial people the USD 2.0 million number is the one most thrown around by them as regards the sort of sum that is needed ?

I know my financial/retirement planning which was done by a professional also showed I needed about 1.9 million in my piggy bank to ensure a stress free retirement, and I can assure you the person who did all this for me is far from stupid, so who I am inclined to believe as to who is stupid you ? Or a professional financial planner ? My money is on the financial guy

What kind of financial people are they then? It obviously comes down to lifestyle, what age one is retiring and what other kinds of income the person in question will also be receiving. Two million dollars in the bank or invested in property with a pension for some would be a dream retirement. For a jet setter playboy type who has been used to purchasing a new Yacht every other year and driving around in super cars would probably seem like a near poverty retirement.

It obviously comes down to the individual and their lifestyle. Unless you like paying financial types to give you an arbitrary number. They sure don't mind the easy money.

number

The financial guy who did my stuff is a childhood friend, who is a chartered accountant,and all round financial "Whizz kid" who works for a large commercial bank and charged me nothing for the financial planning and advice, so who do you think I am inclined to believe TV's George Soros' or someone I know and trust to give me decent advice ?

[rgs2001uk]

I hope RG and SP will cut me some slack

No worries Mr T, you and SP are amongst the good guys on here.

No offence meant or intended.