Managing retirement income

[MahasarakhamMitch]

I think it is a great idea and you will be fine on that amount. You will also have that back up money to cover any illness or accident that may happen here. Just rent small and cheap till you are sure where in Thailand you want to be.  Remember you can always visit the wilder places from a much more peaceful place where rents are much cheaper.    Good luck

My wife has a decent house and farmland in maha sarakham which we will use as a base. I really love the sea so would look at renting a condo for a month at a time for breaks away from the in laws


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[MahasarakhamMitch]

 

This is a 'how long is a piece of string' type question.

 

My first question would be how long have you previously spent in Bangkok?

 

 

I reckon the absolute minimum to have a half decent life in Bangkok is 60,000 THB a month and then for every extra 10,000 THB you add life gets noticeably better.  

 

If you have between 80,000 THB and 100,000 THB to spend per month then life should be pretty good.   You won't be living like a king but you will be able to enjoy life without worrying too much.   

 

Bringing in 1300 GBP a month is around 56,000 THB (today's rate).   That is just below my minimum level, and unfortunately you are also at the mercy of the exchange rate.

 

I'm not sure why you'd want to buy a car in Bangkok, personally I'd save your money.

 

12 years until your pension kicks in is a long time.... 

 

None of us really know how long we have but it's good to have a longterm plan. 

 

Nothing wrong with part of that plan being an inheritance.   

 

 

I am not a fan of Bangkok and wouldn’t live there as it’s just too busy and the air is so polluted.

There will be a large inheritance from my mum at some stage unless it’s eaten up with care Home fees.

 

 

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[ThaiPauly]

I rent out two properties in the UK through a very efficient management company.

 

They are rarely empty, I think about 2 weeks in 15 years, not saying that some tenants are not a pain in the ass the odd few are but generally I find it satisfactory

 

In four years the value has increased by around 20% , plus the income from the rent, I'm very happy.

 

However, I will probably sell one when I start to collect my pension at 65 as 20% of the income will go directly to the taxman, so I will re-invest in bonds.

Edited March 3, 2018 by ThaiPauly