Pension = Fantasy for my generation

 

I have accepted that fact, so I don't spend any time pondering about it.

 

 

 

More Thai sufficient for us to live on.

I started working when I was 16 and retired at 48.

Start retirement investments early and you get to retire early.

Would have been an interesting poll.

31 minutes ago, IMA_FARANG said:

Not that it is really any of your business, but I will tell you anyway.

I get $1790 U.S. monthly.

I started paying when I started working at age 15, and retired at age 64.

Since September 2014 it has been sent direct deposit to my Bangkok Bank account.

I have a 3 month rental contract with the place where I live in Bangkok, but I pay rent monthly

My rent runs betwen 18K and 19K Baht monthly.

Another 2K baht each month for meals sometimes 3K baht. (there is a resaurant downstairs where I live where breakfast is less than 200 Baht a day).

Depending on dollar/baht  exchange rate I usualy get about 60K Baht each month and I have about 40K Baht leftover each month, which goes into my bank account.

 

 

 

u spend less than 100 baht/day for food? MY GOD

never go out, never buy anything,  no entertainment,  other than computer?

how is that living??

$97.000 a year or about 3.4 million baht.

Currently I'm receiving an impairment benefit of ฿115K baht per month. Once my civil case settles I'll be able to add a ฿67500 per month rental to that figure.

Only kick in the pants is that I'm 38 with permanent life changing disabilities. Would rather have my health. 

This is a small silver lining I guess, can still travel, live well and save.

Edited September 17, 20169 yr by MadMuhummad

None of your business.

I get so much it is hard to close my wallet ...

 

On a military pension from Australia

I hate to be a killjoy ,and you guys obviously love giving your personal money details to a complete stranger,,Well,i'm doing quite nicely thank you.So mind your own business.

18 minutes ago, DUS said:

I get so much it is hard to close my wallet ...

 

That must be a very small wallet, I have a man to  carry mine for me............. when I say  carry  what I mean is  pull behind  him in a wheelbarrow

39 minutes ago, phuketrichard said:

u spend less than 100 baht/day for food? MY GOD

never go out, never buy anything,  no entertainment,  other than computer?

how is that living??

To some people that's all they need. Just because you move to Thailand or anywhere in the world for that matter. Does not mean to say your suddenly going to become something your not. The sun/culture/diffrent surroundings from a hard working life you had before is living and living well. Entertainment can mean diffrent things to diffrent people. Although even 3000 bht a month for food if breakfast is 150 bht per day say that's 4500bht a month. But good luck to him I expect he is happy within himself.

17 hours ago, returnofthailand said:

how much you make from your pension

Might be more productive as a survey and additional comments as desired by TVers.

IMA_FARANG, you are one thrifty man. Wow. I don't know how long you have been living on 1/3 of your income but you must have an impressive savings at this point. 

 

 

Tell me yours and I'll tell you mine, lets not be one sided about it!

18 minutes ago, kannot said:

That must be a very small wallet, I have a man to  carry mine for me............. when I say  carry  what I mean is  pull behind  him in a wheelbarrow

Show off! I have to hire a truck???

17 hours ago, manfredtillmann said:

nothing! my government has decided that i am too wealthy to gain any benefit from the A$ 1,000,000 plus of taxes i have paid...

 

As It should be.  Taxes are for government expenses to run tje country.  How much did you contribute to a superannuation plan?

I paid several million In tax, and was never going to be given an aged pension, so contributed to my own retirement plan, for 30+ years.

 

Unable to edit typo  tje = the

While in California in July I read an article where the reporter made a very good argument for doubling the pension Social Security payments in the USA. Stated that it was financially doable and all the doomsayers were wrong about the system collapsing. If anybody is really interested in reading it I will find a link....I actually have the article with me, but it is pretty long to post here.

My wife has no idea of how much I get. Why would I post it on a public board? Suffice to say that I live comfortably.

I paid into the u.k state fund all my working life of 50 yrs & i draw 570 GBP per month (26-27,000 baht present rate).I visit & stay for long holidays up to 6 months ,i would'nt be able to live in Thailand as i find it more expensive than in the u.k. I do make the money up from my savings for the long stays but im ok as im not skint just yet. 

comfortable, and bored out of my mind

 

I washed my car in the rain the other day, futile, but at least it was something to do

 

11 minutes ago, F4UCorsair said:

As It should be.  Taxes are for government expenses to run tje country.  How much did you contribute to a superannuation plan?

I paid several million In tax, and was never going to be given an aged pension, so contributed to my own retirement plan, for 30+ years.

 

Unable to edit typo  tje = the

 

when i migrated to australia in 1981 as a self - financed immigrant i entered into a ' contract' with the then government. and part of this contract was the commitment of the commonwealth to pay me the standardised government pension upon me reaching the age of 65.

 

in australia income tax payments contain a levy for government health insurance and government pension. other countries, like germany, might actually call these tax components by name, but there are still TAX.

 

apart from 'running the country', which they really don't, perhaps they administer it, and not too well for all i care, my tax payments also finance welfare payments to the needy and the not so needy ones, foreign aid, warfare etc., and these components are also not shown separately in my tax assessment.

 

my personal provisions for my retirement and my present life are not superannuation, i make all my current income from residential investment property. why that appears to give the oz government an excuse to not pay me is beyond me.

2 hours ago, IMA_FARANG said:

Another 2K baht each month for meals sometimes 3K baht. (there is a resaurant downstairs where I live where breakfast is less than 200 Baht a day).

 

200 baht x 30 days = 6,000 baht/month

10 minutes ago, Gary A said:

My wife has no idea of how much I get. Why would I post it on a public board? Suffice to say that I live comfortably.

 

58 minutes ago, Khon Kaen Dave said:

I hate to be a killjoy ,and you guys obviously love giving your personal money details to a complete stranger,,Well,i'm doing quite nicely thank you.So mind your own business.

i think that few people know who we posters really are, that's why we all have our little forum names.

one thing not to tell your wife how much pension you get but posting it here seems fairly anonymous.

 

anyway, it gave me the opportunity to have a spat about my favourite pet - hate.

happy weekend, everyone.

mft

Who knows? The future of some Europe countries, the pension's system  will be soon in a collapse. Spain; Zero Euro in 2021.

8 hours ago, returnofthailand said:

I m under 50 and paid just a little for my retirement, but not enough to live decently as I have worked and live in foreign country most of the time and didn't work very much . so 0 for me. I don't believe the retirement system will exist in 15 tears time. oh yes you will still get retirement at 105 years old. lol

retirement has been invented after the 2nd world war and at the time there were 7 workers for 1 retire . now we have 2 workers for 1 retired. and soon 1 worker for 3 retired. .
do you see the trend here ? do you think it s improving in a good way or in a bad way.?


instead I saved good money already.
and in case I finish on the streets, I will ask for assistance. and then I will probably live like a king. free housing free food free pocket money free transport free holiday to Thailand... and worse case, I apply as a refugee in Germany.... lol

 

1.  Modern state pension systems began when Bismarck created one in Germany along with national health insurance and accident insurance in the 1880's.  It's true that the US has lagged behind. 

 

2.  The Social Security system was however created in 1935.  Private pensions did become more widespread in the US in the 50's.

 

3.  Your demographic prediction of a coming crisis in Social Security is frequently heard from innumerate folks like yourself.   Apparently you have never stopped to ask yourself why there was no such crisis when the ratio of workers to retirees fell from 5 to 1 in the 60's to 3 to 1 in the 90's.  In fact, the standard of living of both SS recipients and workers increased significantly during that 30 year period.  How do you suppose that was possible?   You have assumed that workers in the immediate post-war economy produced the same amount of output as workers today.   But that's obviously ridiculous.  In the 50's GM had 400,000 workers and produced fewer cars per year than today with 40,000.  Productivity gains affect not only manufacturing workers, but in fact are the source of the rising standard of living across the whole economy.  And that includes supporting retirees.  Today's workers make more than their predecessors in real terms even after paying more in payroll taxes.  That's the effect of productivity gains. 

 

I hope that you will be able to fund your retirement with your savings, but if you do manage it without SS you will be among a small minority of workers.

I worked for 45 years. paid Social Security, plus 19 years in

a private State pension, and another 10 years to the

Teamsters Union Retirement.  I will never look at a price

tag for the rest of my life.  Do what I want, when I want, life

is wonderful, Especially in Thailand and Singapore!!

2 hours ago, phuketrichard said:

u spend less than 100 baht/day for food? MY GOD

never go out, never buy anything,  no entertainment,  other than computer?

how is that living??

 

Ever heard of crafts, hobbies, skills, self-education and so on? There is a surprising amount of life outside the tourist ghettos.

Well OP that's my business but like to keep extension money intact so on paper l'm a millionaire. 

when I'm 60 I'll get about 45,000 UK NHS pension and at 65 I'll get around 22,000 old age pension plus my current 23,000 private pension so that's more than enough in a  few years time