Retired with 1500usd month - recommended max. condo rent?

[fey]

As mentioned, $1,500 a month is doable depending on where you choose to live in Thailand.

Obviously, it would be tough in Bangkok, but more doable in Chang Rai or Phayao in the North, for example.

I would also suggest having a nest egg of 6 figures USD for medical and other emergencies and for an exit plan in case things go South.

Bottom line is to use the many resources that the internet offers and keep in mind the cost of a Retirement Visa which you can combine your monthly/yearly income + Savings to meet the 800k Baht requirement. You must also be 50 years of age or older to qualify as well and not have any felonies/criminal background.

Figure out your monthly expenses the best that you can, then add 25% to that figure. Don't forget the "Farang tax" either.

One thing that is free or almost free is to learn to speak and understand Thai - that will save you a lot of money and problems.

Good luck.

Thanks. Although I really prefer a sea view I decided to start in ChiangMai (again) buying a cheap condo, start a small but smart food business on my gf's name, with the goal to make netto 5000b/day that's not so hard. Maybe go for a very basic marriage without the traditional kitsch I hate that anyway and my gf does not care about it too much either. I speak fluently basic Thai and lived there 25% of my life already just having a lower budget and different situation now so need to be smarter now.

Are you for real?

Not to hard for a Thai i to make 5000 Baht clear profit a day from a start up food business

Dream on

maybe the guy could rent a quitio cart and pull in 60k year. he would be so well off he could buy a new condo.

[PHP87]

Not sure how you came to the conclusion I lived on the cheap. I have always lived well. As I said, I went to school, worked hard, and got good jobs, white collar family-accompanied jobs. In my early years overseas, the companies provided cola bonuses, housing, transportation, home leave airfare, and perdiem; later as I held more responsible positions, I had personal services contrcts which paid me the benefits in cash--and yes, I saved from that too, but lived well. As I said, I lived within my means and saved from that.

I mentioned what I owned in response to comments like yours that said I had nothing and lived on the cheap--as I said, they weren't mansions or Bentleys. The properties are investments, they have made more money. The fact that so many others did not invest, spent all their income, and stayed in the same dead-end jobs all their life only points to their poor planning.

As for where I lived, I said I worked overseas for most of my life, when I went back to the States, I went back to where I got the good contacts, Washington, D.C. That's where my first home and most of my rental property was. I don't believe you could say the cost of living there is cheap.

I believe I have had significant experiences after 42 years living and working all over the globe in three careers--software engineer, management consultant and college professor-- but I also knew I had to have the financial wherewithall to exist when the work stopped.

As far as parties go, well, I will have to leave that to your imagination. You've been wrong about everything else, why stop you now?

"I, I, I...." Are you Obama's speech writer?

Such a clever retort. I was writing about things I did. I surely wouldn't want you to think it was about you.

The topic is about the OP and his question of living on 1500 a month, not about you bragging about your material possessions and how you're "living large" in a 3rd world country.

Whoopdee-freakin'-doo, good for you.

[fey]

As mentioned, $1,500 a month is doable depending on where you choose to live in Thailand.

Obviously, it would be tough in Bangkok, but more doable in Chang Rai or Phayao in the North, for example.

I would also suggest having a nest egg of 6 figures USD for medical and other emergencies and for an exit plan in case things go South.

Bottom line is to use the many resources that the internet offers and keep in mind the cost of a Retirement Visa which you can combine your monthly/yearly income + Savings to meet the 800k Baht requirement. You must also be 50 years of age or older to qualify as well and not have any felonies/criminal background.

Figure out your monthly expenses the best that you can, then add 25% to that figure. Don't forget the "Farang tax" either.

One thing that is free or almost free is to learn to speak and understand Thai - that will save you a lot of money and problems.

Good luck.

Thanks. Although I really prefer a sea view I decided to start in ChiangMai (again) buying a cheap condo, start a small but smart food business on my gf's name, with the goal to make netto 5000b/day that's not so hard. Maybe go for a very basic marriage without the traditional kitsch I hate that anyway and my gf does not care about it too much either. I speak fluently basic Thai and lived there 25% of my life already just having a lower budget and different situation now so need to be smarter now.

Are you for real?

Not to hard for a Thai i to make 5000 Baht clear profit a day from a start up food business

Dream on

6 figure nest egg for "medical emergencies" in case my balls fall off

[PHP87]

If you can buy a small condo, do it, rent is money lost forever.

after 15 years the condo owes you nothing.

just pick the right place.

If someone is over the age 50, buying isn't the wisest choice and you are also stuck in one place.

I would prefer to be able to move every few years to experience life in various Thai provinces/cities, especially with rentals being so inexpensive.

As mentioned earlier, a single guy or even a couple does not need a large home unless they plan to have children, and a single guy will spend much of his time out and about and will be home mostly to sleep and to relax.

But everyone has different wants and needs.

Bottom line is that 48k Bhat is easily doable and one would not be living in poverty or even close to it.

I wonder how the OP is doing and I wish him well.

[PHP87]

As mentioned, $1,500 a month is doable depending on where you choose to live in Thailand.

Obviously, it would be tough in Bangkok, but more doable in Chang Rai or Phayao in the North, for example.

I would also suggest having a nest egg of 6 figures USD for medical and other emergencies and for an exit plan in case things go South.

Bottom line is to use the many resources that the internet offers and keep in mind the cost of a Retirement Visa which you can combine your monthly/yearly income + Savings to meet the 800k Baht requirement. You must also be 50 years of age or older to qualify as well and not have any felonies/criminal background.

Figure out your monthly expenses the best that you can, then add 25% to that figure. Don't forget the "Farang tax" either.

One thing that is free or almost free is to learn to speak and understand Thai - that will save you a lot of money and problems.

Good luck.

Thanks. Although I really prefer a sea view I decided to start in ChiangMai (again) buying a cheap condo, start a small but smart food business on my gf's name, with the goal to make netto 5000b/day that's not so hard. Maybe go for a very basic marriage without the traditional kitsch I hate that anyway and my gf does not care about it too much either. I speak fluently basic Thai and lived there 25% of my life already just having a lower budget and different situation now so need to be smarter now.

Are you for real?

Not to hard for a Thai i to make 5000 Baht clear profit a day from a start up food business

Dream on

Not sure how the OP thinks he can net 5k Bhat per day as that would be a LOT of food orders. Figure the average order would be around 60 Bhat. His Wife would be very busy and would have to work long hours in order to net 5k.

Perhaps he meant gross and not net?

That would be more reasonable - 100 orders per day average at about 50 Bhat per. But the profit wouldn't be worth it unless the profit margin is much higher than the usual 10%-12% or so that most businesses in the US net.

Investing in a good Mutual Fund would be a better option. An after-tax, 10%-12% annual return is doable if the investor does a little homework.

And his wife won't be slinging street food in the heat and humidity.

[willyumiii]

I think you are expecting a lot with only 1500USD per month coming in.

I would forget the "Sea View Condo" and look into a small house in Northern, rural Thailand.

Good luck!

Needs:

Visa: tourist I guess

Will buy a new motorbike cash

Need the best available internet

Entertainment: not into drinking with friends that much more occasionally, usually stay home work/socialize on the internet

Sport: daily fitness (only cross trainer) and walking

Food: sidewalk food and self cooking

Drinking: no beer (must sound weird for many guys here) no daily liquor

Girls: Occasionally a bar girlie let's say once a month

But I love a 2hrs massage about 2x per week, no happy ending

Other expenses: gasoline, insurance, moto tax, electric, water, ?

Also want to add some to savings account and for the rest have a modest life

Edited March 28, 2015 by willyumiii

[rhodie]

.........

Investing in a good Mutual Fund would be a better option. An after-tax, 10%-12% annual return is doable if the investor does a little homework.

.........

Care to share this. Where can I start the homework. I would think you may get that in a good year or two, but continuous?

[Lukecan]

If you drink booze regularly, and hangout with bargirls you'll need at least 4-5k a month

No booze, no bargirls, frugal lifestyle? 1500 is more than enough, provided that you know how to cook or are willing to eat thai food.

[ryanhull]

$1500 = 48843bhat

is easily doable in my view, especially if you have no family to support:

10,000 bhat p/month reasonable condo 38sqm

2,000 bhat p/month electric/water

15,000 bhat p/month food

3,000 bhat p/month petrol/fuel for motorbike

3,000 bhat p/month visa (hopping to cambodia for the night)

3,000 bhat p/month clothes

2,500 bhat p/month pharmacy

1,000 bhat internet

= 39,500

Leaving you with 9,343 bhat for things I have not thought about which I am sure there is a few, probably missed something, to be honest I would sooner live on that here than in the UK/US, in the UK it would be a bit of a struggle.

Anyway good luck