How much do I need to retire in Thailand with a fairly high standard of living

[wow64]

Yes

Sent from my c64

[mj1971]

To all those who have provided helpful responses - many thanks, it is appreciated.

For those of you who were unclear about my original post, apologies that I didn't specify US$75k to be an annual figure - this was an oversight (which I thought was self-explanatory but obviously it was not to everyone).

The post was genuine and not meant to upset anyone, simply to gain some insight.

Thanks again to all with helpful responses.

[beachproperty]

If you need to ask.....you don't have enough! ........

[metisdead]

A troll post has been removed.

[smokie36]

To all those who have provided helpful responses - many thanks, it is appreciated.

For those of you who were unclear about my original post, apologies that I didn't specify US$75k to be an annual figure - this was an oversight (which I thought was self-explanatory but obviously it was not to everyone).

The post was genuine and not meant to upset anyone, simply to gain some insight.

Thanks again to all with helpful responses.

You have a lot to consider here.

On face value 200k Baht is a good sum and living a single life you will be comfortable.

If you married and had any kids you would have to consider schooling them and that would not come cheap in Thailand.

Other consideration is becoming bored and needing to travel around regularly to stave this off.

Avoid telling ANYONE you have retired....just say you are having a gap year or writing a book....that will keep the beggars or dubious scammers from your door.

All in...I think you are set however...best of luck!

[chickenslegs]

I know that it's a difficult question to answer in the abstract but just trying to get a general sense of whether I can quit now or whether I should do a few more years.

Quit now. You can afford it.

In a few more years you could drop dead at your desk.

[DLock]

You can live on that amount reasonably well...however, it assumes you want to stay at that level and not acquire nice things like cars, motorcycles, condos, boats and various other toys to keep you entertained. It's easy to drop 5,000 - 10,000 baht on a reasonable night out, so you can chew through money quicker than you might think.

It's hard to scale back once you have all this unnecessary stuff.

My bet is that given you current rather intellectual work, you won't be able to stay retired for long without daily mental stimulation. You will have a year or so of fun, but your brain is wired for stimulation and thinking and doing very little is actually very difficult.

So don't burn any bridges or flip your Boss of as you leave...you might just want to go back.

But have fun. Relax and decompress for as long as you can...and don't buy stupid shit like I did.

Good Luck.

[Soutpeel]

You can live on that amount reasonably well...however, it assumes you want to stay at that level and not acquire nice things like cars, motorcycles, condos, boats and various other toys to keep you entertained. It's easy to drop 5,000 - 10,000 baht on a reasonable night out, so you can chew through money quicker than you might think.

It's hard to scale back once you have all this unnecessary stuff.

My bet is that given you current rather intellectual work, you won't be able to stay retired for long without daily mental stimulation. You will have a year or so of fun, but your brain is wired for stimulation and thinking and doing very little is actually very difficult.

So don't burn any bridges or flip your Boss of as you leave...you might just want to go back.

But have fun. Relax and decompress for as long as you can...and don't buy stupid shit like I did.

Good Luck.

this is also one of the reasons I suggested a sabbatical first, he may thin he wants to retire, retires and it sends him bat sh*t crazy, if he does 6 months here "retired" upfront he will know if its for him or not

one only has to look at some of the posts on TV to understand what "retirement" does to some peoples heads..

Edited March 15, 2015 by Soutpeel

[slightlychilled]

I agree with the last two posters. Unless you have very expensive tastes, materially you'll have much of what you'd like but I fear you will struggle emotionally and socially.

IMO there are far better places to retire to.

You might also want to research age requirements for any sensible resident visa, you might be too young to qualify.

[nisakiman]

Thanks. I was hoping to get some helpful responses from people who know better than I do.

Fortunately it looks like I got a couple of helpful responses (as well as a few not so helpful ones).

Thanks for all for your comments. This was my first post and I have learned a couple of things from it.

Assuming you're genuine, dont take any of this too seriously : we do get trolled on a regular basis, often by longtimers reinventing themselves under a different board name and having some fun at our expense. Most here would kill to have access to anything resembling 200k baht a month to live on in Thailand - your only enemy will be the nightlife but I expect that's the same in London / Hong Kong / most US cities.

"Most here would kill to have access to anything resembling 200k baht a month to live on in Thailand"

To be honest, I can't think how I'd be able to spend that much, for both me and my wife. When we're in Thailand, even when we're staying in Bangkok, eating out every meal, staying in a hotel (we don't do 5 star, just comfortable), taxis, BTS and metro, shopping etc etc etc, I don't think I get through much more than 40K Baht in a month. And that's in holiday mode, when you spend more freely than when you're resident mode. Ok, we don't do nightlife, but even when I was single and doing that stuff, I don't remember it being that expensive.

200K? I'd have to be buying expensive cars, expensive women and always eating in top restaurants to even approach that sort of expenditure.

[topt]

Thanks. I was hoping to get some helpful responses from people who know better than I do.

Fortunately it looks like I got a couple of helpful responses (as well as a few not so helpful ones).

Thanks for all for your comments. This was my first post and I have learned a couple of things from it.

Assuming you're genuine, dont take any of this too seriously : we do get trolled on a regular basis, often by longtimers reinventing themselves under a different board name and having some fun at our expense. Most here would kill to have access to anything resembling 200k baht a month to live on in Thailand - your only enemy will be the nightlife but I expect that's the same in London / Hong Kong / most US cities.

"Most here would kill to have access to anything resembling 200k baht a month to live on in Thailand"

To be honest, I can't think how I'd be able to spend that much, for both me and my wife. When we're in Thailand, even when we're staying in Bangkok, eating out every meal, staying in a hotel (we don't do 5 star, just comfortable), taxis, BTS and metro, shopping etc etc etc, I don't think I get through much more than 40K Baht in a month. And that's in holiday mode, when you spend more freely than when you're resident mode. Ok, we don't do nightlife, but even when I was single and doing that stuff, I don't remember it being that expensive.

200K? I'd have to be buying expensive cars, expensive women and always eating in top restaurants to even approach that sort of expenditure.

Your not trying hard enough.......I ended up spending about 30k in BKK in about 4 days in December doing exactly what you mentioned but including nightlife.

Seriously if the OP plays golf (or wants to) that could easily be 24-35k a month playing 2 -3 times a week. It could also only be 15k if he picked cheaper courses.

Private medical insurance also needs to be considered but the OPs figure should allow pretty much a free reign on his spending - as long as the $US does not tank like the Euro in the near future.......

[losgrad]

I think using the retirement visa income requirement as a base figure is a good place to start - 65k baht per month. As international currency fluctuates and inflation results may reduce your available income in the future, it is probably best to project years ahead in conservative terms. For me, over the next 10 years means at least double the current 65k or 130k baht per month.

Yes, I know many retirees currently living on less than half the 65 k requirement, but theyve bern here awhile, have adjusted their lifestyles accordingly, etc.., but to start at that amount would not be the best long term plan.

I agree with the above posters "DLock" and "Soutpeel" on what you'll be doing with your time and whether you'll be supporting only yourself or a family especially the cost of private education.

Enjoy the preparations and planning. It's an adventure.

[benalibina]

Thanks. I was hoping to get some helpful responses from people who know better than I do.

Fortunately it looks like I got a couple of helpful responses (as well as a few not so helpful ones).

Thanks for all for your comments. This was my first post and I have learned a couple of things from it.

Assuming you're genuine, dont take any of this too seriously : we do get trolled on a regular basis, often by longtimers reinventing themselves under a different board name and having some fun at our expense. Most here would kill to have access to anything resembling 200k baht a month to live on in Thailand - your only enemy will be the nightlife but I expect that's the same in London / Hong Kong / most US cities.

"Most here would kill to have access to anything resembling 200k baht a month to live on in Thailand"

To be honest, I can't think how I'd be able to spend that much, for both me and my wife. When we're in Thailand, even when we're staying in Bangkok, eating out every meal, staying in a hotel (we don't do 5 star, just comfortable), taxis, BTS and metro, shopping etc etc etc, I don't think I get through much more than 40K Baht in a month. And that's in holiday mode, when you spend more freely than when you're resident mode. Ok, we don't do nightlife, but even when I was single and doing that stuff, I don't remember it being that expensive.

200K? I'd have to be buying expensive cars, expensive women and always eating in top restaurants to even approach that sort of expenditure.

40k bth a month incl comfortable hotel ......with wife......in bkk....on holiday....yeah right....

[fey]

Why do you talk in American dollars when you work in London < we have Solicitors not layers.

I can't imagine a lawyer asking this. Must be a troll thread to brag about income???

[j7general]

Why do you talk in American dollars when you work in London < we have Solicitors not layers.

He was talking ""lawyers""---Layers are East Coast Lawyers---or lairs. We get you out of trouble. Give us enough money-----we will get you out of anything!

[Chonburiram]

Stop thinking in terms like workday, weekend, holiday, retirement.

I assume you are in your mid 40ies and have 4 - 5 000 000 $ in assets... not enough!

Unhappy with your live/ work? Invest a few 10 000 $ in psychoanalysis, dietetics, do an exercise routine, stop alc, coffeine, nicotine, drugs, get a new job/ profession.

Being a lawyer must really suck!

Moving out of mothers granny flat could also be helpful.

[TallGuyJohninBKK]

$75,000 U.S. per year, $6250 per month, is more than enough to live comfortably anywhere in Thailand -- including the bigger cities -- in the manner described by the OP.

OP, just remember, to qualify for a retirement extension of stay as part of your early retirement plan, you need to be at least age 50, in addition to meeting a financial requirement, which you would have no problem with.

If you're under 50, then the visa/permission to stay issue would become a bigger issue than your finances.

Edited March 15, 2015 by TallGuyJohninBKK

[Xircal]

I agree with the last two posters. Unless you have very expensive tastes, materially you'll have much of what you'd like but I fear you will struggle emotionally and socially.

IMO there are far better places to retire to.

You might also want to research age requirements for any sensible resident visa, you might be too young to qualify.

What slightlychilled mentioned about age requirements is a very good point. If you're in your 40's, you won't qualify for a retirement visa: http://www.thaiembassy.com/retire/retire.php

Here are the visa alternatives: http://www.thaiembassy.com/thailand/thailand-visa-types.php

[NeverSure]

OP, please slow down. Thailand is a littered, smelly shithole lacking the rule of law and filled with any kind of scam and corruption you can think of.

The biggest scam is likely to come from that pretty Thai woman who is "different" from the others.

Thailand is a great place to vacation because it has a lot of things you don't have in England or New York. It's a good bet that if your weren't looking for those things you'd be looking at Florida.

You won't be happy retired and Thailand will lose its luster quickly. Heck, I wouldn't want to live at Disneyland for more than three days.

I tried retiring in Thailand and had a one year extension of stay for retirement. You can't get that. I lasted less than the year and pulled up stakes and headed back to Oregon. Now I just visit as a tourist, usually for about 90 days.

Others have asked you to do this on a trial basis. I give you 90 days. Once you've built up enough assets and income that you can afford a first world environment, you aren't likely to want Thailand 24/7/365 and there aren't many who do. Those I know who do, to put it politely, are addicted to certain things in certain areas and it isn't healthy emotionally or physically. Either that or they have a very limited pension.

Good luck

[smokie36]

OP, please slow down. Thailand is a littered, smelly shithole lacking the rule of law and filled with any kind of scam and corruption you can think of.

The biggest scam is likely to come from that pretty Thai woman who is "different" from the others.

Thailand is a great place to vacation because it has a lot of things you don't have in England or New York. It's a good bet that if your weren't looking for those things you'd be looking at Florida.

You won't be happy retired and Thailand will lose its luster quickly. Heck, I wouldn't want to live at Disneyland for more than three days.

I tried retiring in Thailand and had a one year extension of stay for retirement. You can't get that. I lasted less than the year and pulled up stakes and headed back to Oregon. Now I just visit as a tourist, usually for about 90 days.

Others have asked you to do this on a trial basis. I give you 90 days. Once you've built up enough assets and income that you can afford a first world environment, you aren't likely to want Thailand 24/7/365 and there aren't many who do. Those I know who do, to put it politely, are addicted to certain things in certain areas and it isn't healthy emotionally or physically. Either that or they have a very limited pension.

Good luck

Its clear you didn't retire to Bangkok.

If you retired from Bangkok to rural Oregon probably you would be just as disappointed.

Just saying mate.....

[MrWorldwide]

I agree with the last two posters. Unless you have very expensive tastes, materially you'll have much of what you'd like but I fear you will struggle emotionally and socially.

IMO there are far better places to retire to.

You might also want to research age requirements for any sensible resident visa, you might be too young to qualify.

What slightlychilled mentioned about age requirements is a very good point. If you're in your 40's, you won't qualify for a retirement visa: http://www.thaiembassy.com/retire/retire.php

Here are the visa alternatives: http://www.thaiembassy.com/thailand/thailand-visa-types.php

OP, be aware that this is a major bone of contention here - nonetheless, some claim to be living in Thailand courtesy of this option for under-50s.

http://www.thailandelite.com/glimpse.php

If you genuinely have the kind of income you are talking about, I think this may be a possibility - starting a business here is fraught with risk as is trying to stay on a student visa.

[NeverSure]

OP, please slow down. Thailand is a littered, smelly shithole lacking the rule of law and filled with any kind of scam and corruption you can think of.

The biggest scam is likely to come from that pretty Thai woman who is "different" from the others.

Thailand is a great place to vacation because it has a lot of things you don't have in England or New York. It's a good bet that if your weren't looking for those things you'd be looking at Florida.

You won't be happy retired and Thailand will lose its luster quickly. Heck, I wouldn't want to live at Disneyland for more than three days.

I tried retiring in Thailand and had a one year extension of stay for retirement. You can't get that. I lasted less than the year and pulled up stakes and headed back to Oregon. Now I just visit as a tourist, usually for about 90 days.

Others have asked you to do this on a trial basis. I give you 90 days. Once you've built up enough assets and income that you can afford a first world environment, you aren't likely to want Thailand 24/7/365 and there aren't many who do. Those I know who do, to put it politely, are addicted to certain things in certain areas and it isn't healthy emotionally or physically. Either that or they have a very limited pension.

Good luck

Its clear you didn't retire to Bangkok.

If you retired from Bangkok to rural Oregon probably you would be just as disappointed.

Just saying mate.....

I don't get your point, sorry. I retired to Chiang Mai. I'm not in rural Oregon except when I visit where I grew up. I love it there for a spell, too.

Anyone who has sufficient assets and income and would prefer the suffocating heat and humidity, seasonal smoke, litter, odors, filthy canal, dodgy food and water etc. to a clean first world environment with a nice climate puzzles me unless they want certain things I don't want. I forgot to mention the crazy driving, "suicides", and general culture that can disturb a sane person.

It's a matter of choice. Some like it fine and some don't. An attorney from New York and London needs to try it out for a while.

[MJP]

OP, please slow down. Thailand is a littered, smelly shithole lacking the rule of law and filled with any kind of scam and corruption you can think of.

The biggest scam is likely to come from that pretty Thai woman who is "different" from the others.

Thailand is a great place to vacation because it has a lot of things you don't have in England or New York. It's a good bet that if your weren't looking for those things you'd be looking at Florida.

You won't be happy retired and Thailand will lose its luster quickly. Heck, I wouldn't want to live at Disneyland for more than three days.

I tried retiring in Thailand and had a one year extension of stay for retirement. You can't get that. I lasted less than the year and pulled up stakes and headed back to Oregon. Now I just visit as a tourist, usually for about 90 days.

Others have asked you to do this on a trial basis. I give you 90 days. Once you've built up enough assets and income that you can afford a first world environment, you aren't likely to want Thailand 24/7/365 and there aren't many who do. Those I know who do, to put it politely, are addicted to certain things in certain areas and it isn't healthy emotionally or physically. Either that or they have a very limited pension.

Good luck

Its clear you didn't retire to Bangkok.

If you retired from Bangkok to rural Oregon probably you would be just as disappointed.

Just saying mate.....

I don't get your point, sorry. I retired to Chiang Mai. I'm not in rural Oregon except when I visit where I grew up. I love it there for a spell, too.

Anyone who has sufficient assets and income and would prefer the suffocating heat and humidity, seasonal smoke, litter, odors, filthy canal, dodgy food and water etc. to a clean first world environment with a nice climate puzzles me unless they want certain things I don't want. I forgot to mention the crazy driving, "suicides", and general culture that can disturb a sane person.

It's a matter of choice. Some like it fine and some don't. An attorney from New York and London needs to try it out for a while.

Difference is Uncle some of these people come from places like Leeds and Birmingham. Chiang Mai is a paradise in comparison.

[thaitorrent1]

Troll thinking about Bkk or Phuket for retirement !

Why not Irak or Lybia ?

[chris2004]

What a pointless question. $900k a year would buy you a good life in any city in the world, more so in Thailand. If the OP doesn't know that he must be a very poor solicitor.

[Soutpeel]

Thanks. I was hoping to get some helpful responses from people who know better than I do.

Fortunately it looks like I got a couple of helpful responses (as well as a few not so helpful ones).

Thanks for all for your comments. This was my first post and I have learned a couple of things from it.

Assuming you're genuine, dont take any of this too seriously : we do get trolled on a regular basis, often by longtimers reinventing themselves under a different board name and having some fun at our expense. Most here would kill to have access to anything resembling 200k baht a month to live on in Thailand - your only enemy will be the nightlife but I expect that's the same in London / Hong Kong / most US cities.

"Most here would kill to have access to anything resembling 200k baht a month to live on in Thailand"

To be honest, I can't think how I'd be able to spend that much, for both me and my wife. When we're in Thailand, even when we're staying in Bangkok, eating out every meal, staying in a hotel (we don't do 5 star, just comfortable), taxis, BTS and metro, shopping etc etc etc, I don't think I get through much more than 40K Baht in a month. And that's in holiday mode, when you spend more freely than when you're resident mode. Ok, we don't do nightlife, but even when I was single and doing that stuff, I don't remember it being that expensive.

200K? I'd have to be buying expensive cars, expensive women and always eating in top restaurants to even approach that sort of expenditure.

Wow you really think 200k.m is a rock star life style ?... ...show how out of touch with reality you are

expensive cars/women, top restaurants, 5 star hotels

How about an average car (s), decent education for your kids, half decent house, living an "expat type life style", a few bucks in the bank / investments for a rainy day, annual holiday somewhere nice, and insurances

that's what 200k/m buys you in Thailand

[mesquite]

What a pointless question. $900k a year would buy you a good life in any city in the world, more so in Thailand. If the OP doesn't know that he must be a very poor solicitor.

It's $75k per year.

[Soutpeel]

What a pointless question. $900k a year would buy you a good life in any city in the world, more so in Thailand. If the OP doesn't know that he must be a very poor solicitor.

he must be a very poor solicitor.

or your illiterate, the OP clarified many many post ago, he was talking about 75k p.a. which means per annum, which comes from the Latin meaning per year...

[theslime]

Maybe me with my cynical mind, but this post does not seem to be true.

I was going to write some smart arse reply about, go and ask your Mummy. I like your post better.

[Berkshire]

$75,000 U.S. per year, $6250 per month, is more than enough to live comfortably anywhere in Thailand -- including the bigger cities -- in the manner described by the OP.

OP, just remember, to qualify for a retirement extension of stay as part of your early retirement plan, you need to be at least age 50, in addition to meeting a financial requirement, which you would have no problem with.

If you're under 50, then the visa/permission to stay issue would become a bigger issue than your finances.

Has the OP answered this question regarding visa? Of course with his income, the Elite Card shouldn't be a problem.