If I had $5m, age 60, would I relocate? Where? Occupy my time?

[Naam]

Age - 60

Dependants - zero

ie free as a bird!

Not a jetsetter. Just an ideal location to live an optimal life (inside or outside one's native country).

income tax should be one of your concerns. if you solve that problem you can have a very comfortable life without spending a penny of your capital.

[Muzarella]

If I had $5 mill US when I was retiring in California....my first choice was Lake Chapala in Mexico, close to Guadalajara.

Amazing place, amazing people, good weather, an interesting expat community, beautiful local ladies, good tequila, good wine, good beer, good beef, good food...easy immigration rules, many English speakers, safest area in Mexico, low cost of living and real estate comparing with California..and about 3 hours fly to LA, Cancun, Miami, Jamaica, Cuba...

Better than that? Spain, Portugal, and Italy....if you do not have trouble with immigration.

Edited July 27, 2015 by Muzarella

[Naam]

The correct answer is where your partner / best friends / family / interesting, decent people are so you can socialise with them.

Location, as in province, region, country are not so important.

And as Never Sure pointed out, 5 million dollars will not give you the keys to the world.

the key to the world is also not handed over by socialising with decent people.

[rijit]

Interesting

rijit

[stoneyboy]

I would donate it to spurs so they could buy a striker.

[bartender100]

I would donate it to spurs so they could buy a striker.

Or Norwich City FC even

[Jupiterjim]

You can do better than 3%

Read here: http://money.cnn.com/retirement/guide/annuities_basics.moneymag/index.htm

If you have that much cash and want to make it last until you die. Annuities are your safest easiest investment.

Have a look at this calculator: http://money.cnn.com/tools/annuities/

Can you survive on US$25,000/month?

That will get you to 95 or a bit more.

Invest 50% in diversified stocks/index funds.

50% in bonds of fixed income.

Withdraw 4% forever.

Annuities are good for annuity salesman. Avoid.

[geriatrickid]

$5 million invested at a measly 3% would still give you $150,000 a year. If you can't live comfortably on that there's something wrong.

You neglect to allow for tax and the cost of making that 3%. Some countries tax interest income at a significant rate. Honestly, 150K before tax isn't anything special if one wishes to have a comfortable life. TVF has been filled with cost of living threads and I appreciate that it's all a matter of preferences. However, quality medical care, lodging and lifestyle do not come cheap in much of the developed world, and it's no bargain in Thailand either.

[fang37]

It is apparent that the census of opinion is -

1) live in Thailand - location is to be determined by proximity to family, relatives & friends

2) invest in stocks/bonds & bank deposits. Tax considerations should be examined

3) gain an interest ie hobby

4) contribution to the community

[giddyup]

$5 million invested at a measly 3% would still give you $150,000 a year. If you can't live comfortably on that there's something wrong.

You neglect to allow for tax and the cost of making that 3%. Some countries tax interest income at a significant rate. Honestly, 150K before tax isn't anything special if one wishes to have a comfortable life. TVF has been filled with cost of living threads and I appreciate that it's all a matter of preferences. However, quality medical care, lodging and lifestyle do not come cheap in much of the developed world, and it's no bargain in Thailand either.

I calculated the income with a 3% return, I'm sure $5 mil. could generate more than 3% with a good financial adviser. So what about a 5% return? That would generate $250,000. Still not enough after tax and allowing for health care etc?

[geriatrickid]

The correct answer is where your partner / best friends / family / interesting, decent people are so you can socialise with them.

Location, as in province, region, country are not so important.

And as Never Sure pointed out, 5 million dollars will not give you the keys to the world.

the key to the world is also not handed over by socialising with decent people.

Maybe not, but at least one has a better shot at finding the keys in the company of decent people, and when one does have them, they are less likely to be stolen. This is demonstrated everyday in Thailand. Hua Hin and Pattaya are of similar size, yet Hua Hin has less crime, is considered cleaner and of course is considered to be a much classier place. Hua Hin attracts quality people with manners. I can't recall any lady boy crime stories in Hua Hin, yet they are a weekly event in Pattaya. I don't think anyone has jumped from a Hua Hin condo this year. Sadly, it seems to be a weekly occurrence in Sodom & Gomorrah by the sea aka Pattaya.

There is a distinct advantage to socialising with decent people.

Edited July 27, 2015 by geriatrickid

[Naam]

$5 million invested at a measly 3% would still give you $150,000 a year. If you can't live comfortably on that there's something wrong.

You neglect to allow for tax and the cost of making that 3%. Some countries tax interest income at a significant rate. Honestly, 150K before tax isn't anything special if one wishes to have a comfortable life. TVF has been filled with cost of living threads and I appreciate that it's all a matter of preferences. However, quality medical care, lodging and lifestyle do not come cheap in much of the developed world, and it's no bargain in Thailand either.

I calculated the income with a 3% return, I'm sure $5 mil. could generate more than 3% with a good financial adviser. So what about a 5% return? That would generate $250,000. Still not enough after tax and allowing for health care etc?

"enough" depends what lifestyle the OP is striving for. in some countries (especially Europe) you are hit with up to 50% income tax, 20% VAT on goods and services, high property prices or rental and utility cost as well as mandatory health insurance (very expensive at an entry age of 60). then suddenly the 250k become a fiction and in reality the purchase power is down to 100-120k.

[fang37]

#42.

The government is just trying to help us. Wonderful organisation!

So, it costs a LITTLE more. BS!

I was a CPA specialising in Taxation Law.

[giddyup]

$5 million invested at a measly 3% would still give you $150,000 a year. If you can't live comfortably on that there's something wrong.

You neglect to allow for tax and the cost of making that 3%. Some countries tax interest income at a significant rate. Honestly, 150K before tax isn't anything special if one wishes to have a comfortable life. TVF has been filled with cost of living threads and I appreciate that it's all a matter of preferences. However, quality medical care, lodging and lifestyle do not come cheap in much of the developed world, and it's no bargain in Thailand either.

I calculated the income with a 3% return, I'm sure $5 mil. could generate more than 3% with a good financial adviser. So what about a 5% return? That would generate $250,000. Still not enough after tax and allowing for health care etc?

"enough" depends what lifestyle the OP is striving for. in some countries (especially Europe) you are hit with up to 50% income tax, 20% VAT on goods and services, high property prices or rental and utility cost as well as mandatory health insurance (very expensive at an entry age of 60). then suddenly the 250k become a fiction and in reality the purchase power is down to 100-120k.

I'd be more than happy with an income of $100-120K or $2000 per week. If you couldn't survive on that, allowing for health insurance, in other than the most expensive countries, you'd either be a chronic gambler, drug addict, spendthrift or womaniser, or a combination of the four. I would think 90% of retirees to Thailand would be living quite comfortably on less than half that amount, myself included. Of course it wouldn't matter what amount was mentioned, an income of $10,000 a week would be considered insufficient by some.

[Briggsy]

What happened to Baht? Yet another thread denominated in U.S. Dollars. You're not in Kansas now, Dolly.

[fey]

when all is said and done there are not that many options. but some of them are:

traveling around is a great cure for boredom.

rinse and repeat until you meet someone who makes it worthwhile to stay in one place.

one thing about a lot of money like that is you get really bored really soon, and need more extreme measures to stay occupied.

[dotpoom]

Maybe offer some help to somebody in need...Where?........ didn't see that on the list.

Edited July 28, 2015 by dotpoom

[ronthai]

OP, you're and stupid man and ask stupid questions, but probably just trolling.

$5m = 160+Mbaht or any other number in any other country.

I would start with a simple study of Google search engine.

[giddyup]

What happened to Baht? Yet another thread denominated in U.S. Dollars. You're not in Kansas now, Dolly.

The reason that the amount is in US dollars is because it wasn't necessarily about living in Thailand.

[giddyup]

OP, you're and stupid man and ask stupid questions, but probably just trolling.

$5m = 160+Mbaht or any other number in any other country.

I would start with a simple study of Google search engine.

A question no more stupid that 90% asked on this forum., and where do you get off calling someone you don't know stupid? I'd say you were a very arrogant man, or woman.

Edited July 28, 2015 by giddyup

[fang37]

OK now - no bickering & other silly antics.

I will take my dog (a bitch) for a walk. She's not very good in bed but at least she cleans her teeth.

[mesquite]

What happened to Baht? Yet another thread denominated in U.S. Dollars. You're not in Kansas now, Dolly.

The USD is the world's reserve currency, getting stronger every day. Of course it makes sense to mention it here.

[steven100]

Age - 60

Dependants - zero

ie free as a bird!

Not a jetsetter. Just an ideal location to live an optimal life (inside or outside one's native country).

OP .... sex & beer ..... stay thailand and have sex ... and beer.

I just want beer & sex.

[NeverSure]

You neglect to allow for tax and the cost of making that 3%. Some countries tax interest income at a significant rate. Honestly, 150K before tax isn't anything special if one wishes to have a comfortable life. TVF has been filled with cost of living threads and I appreciate that it's all a matter of preferences. However, quality medical care, lodging and lifestyle do not come cheap in much of the developed world, and it's no bargain in Thailand either.

I calculated the income with a 3% return, I'm sure $5 mil. could generate more than 3% with a good financial adviser. So what about a 5% return? That would generate $250,000. Still not enough after tax and allowing for health care etc?

"Good financial advisers" have destroyed more than one portfolio. Most of them don't make money unless they churn your account. In today's - today's - environment shooting for 5% passive would be a real gamble because the real rate is more like 0% to 2% and stock markets might seem high to some.

First rule of investing: Don't lose your assets - aka preserve capital. #1.

The OP is $5 million. Someone with that much money might feel suddenly rich and blow through a lot of it as many lottery winners and young professional athletes have done. It's not rich. If you tried to live rich your neighbors would have a $10 - $50 mil home and a $200 mil Boeing.

Naam has it right. Job one would be to legally avoid income taxes as much as is possible. Job two would be to spend only your income and not your capital. If you had $5 million in the bank it would be hard not to start spending it and one could wind up broke.

Cheers.

[flynn]

Do you have $5m or are you just dreaming?. All the people I know who are living here in thailand don't have anywhere near that kind of money,,,,,,

[lannarebirth]

Not much difference between 3 million and 5 million except that you can afford an extra mistake or two. The most important part of your post wasn't the amount of the money, it was the fact that you are unencumbered by wife and family. If you're 60, with a normal life expectancy, basically, you can live where you want, do what you want, for as long as you want.

[giddyup]

Do you have $5m or are you just dreaming?. All the people I know who are living here in thailand don't have anywhere near that kind of money,,,,,,

...and yet, according to some, it's still not enough.

[lannarebirth]

Age - 60

Dependants - zero

ie free as a bird!

Not a jetsetter. Just an ideal location to live an optimal life (inside or outside one's native country).

income tax should be one of your concerns. if you solve that problem you can have a very comfortable life without spending a penny of your capital.

Exactly! I was on to that good thing for many years but it came time to get everyone "naturalized". I hope they appreciate it. I'm going to have to get super creative now. Would you like to be a member of the board of my foundation?

[Naam]

Age - 60

Dependants - zero

ie free as a bird!

Not a jetsetter. Just an ideal location to live an optimal life (inside or outside one's native country).

income tax should be one of your concerns. if you solve that problem you can have a very comfortable life without spending a penny of your capital.

Exactly! I was on to that good thing for many years but it came time to get everyone "naturalized". I hope they appreciate it. I'm going to have to get super creative now. Would you like to be a member of the board of my foundation?

too busy with my own foundations.

[houlicha]

Fun to speculate (daydream?) but I think I have outgrown wealth and spending it. I have maybe $1.5 Million in investments, but never spend any of it. At 67, I'm content with a simple lifestyle, no longer drink, and can easily live on my pensions in the US. I travel overseas once a year, don't feel the need to get to know any 25 y.o. companions, and expect to leave whatever my estate is worth to my 2 daughters. Maybe I'll go whacko when I hit 75, who knows.