Savings Needed For My Lifestyle

[The Skipper]

I like this retirement calculator.

http://fireseeker.com/firecalc.php

If you plan on taking more than 5% from your investments per year, you could end up broke.

[The Skipper]

Asset allocation is the most important step.

You need a plan. Stick to the plan.

Don't watch CNBC or read too many investment magazines or you will be tempted to trade too often.

Sample, balanced retirement Portfolio at Vanguard.

Rebalance positions once a year, selling the winners(high) and buying the underperformers(low).

Having a portion in an IRA is good as you can sell / reallocate, the winners without tax consequences.

Equities

12% Vanguard Value Index (VIVAX)

12% Vanguard 500 Index (VFINX)

6% Vanguard Small Cap Index (NAESX)

6% Vanguard Small Cap Value (VISVX)

6% Vanguard REIT Index (VGSIX)

6% Vanguard International Value (VTRIX)

6% Vanguard International Growth (VWIGX)

6% Vanguard Emerging Markets Stock (VEIEX)

Fixed income

10%Vanguard Short-term Bond Index (VBISX)

19% Vanguard Short-term Federal (VSGBX)

10% Vanguard Intermediate-Term Bond Index (VBIIX)

10% Vanguard Intermediate Treasury (VFITX)

[siamamerican]

I am confused. It sounds like you have enough to retire a whole village, not just yourself. That amount is an enormous amount here. Are you and other people really concerned it is not enough????? I am no economic wiz, but I really do think that is way way way enough already.

Paul

Depend show you live.. I was surprised to discover my burn rate has gone from about 120k per month to almost 200k in the last half of 2006.. This guy is still young, theres many many more years he needs to make from that.

I am not saying its not possible but I wouldnt have relocated with assets around those levels.. I would definately do a couple more years to add to that and increase the comfort buffer.

The idea of running out of money when old with no where to go would really freak me out. Aint easy to get back into working and making money in your mid 60's after a 20 year break.

It does depend on your needs. Many could be comfortable with my savings, but for you it would be foolish to setup in Thailand with a mere 12-15 mil bt.. You would go through 12 mil bt in 5 - 10 years at your current spending rate. As for me, a few years back, I lived comfortably in Thailand spending about 60k bt per month. I enjoy the nightlife, but spend most of my free time reading and exercising. Both are activities are inexpensive with the exception of the ridiculous amounts I spend on mountain bikes occasionally. If unexpected expenses came up, I would just cut my expenditures the next few months. Some months I would spend 20-30k bt and still have fun.

[siamamerican]

I like this retirement calculator.

http://fireseeker.com/firecalc.php

If you plan on taking more than 5% from your investments per year, you could end up broke.

I like the calculator at 360 Degrees of Financial Literacy.

Under "Retirements Planning Basics" there is a retirement shortfall calculator. I put in 0 years to retirement, $12,000(plan on working in Thailand to supplement my income) annual expenes, 35 years of retirement, 300k savings, 8% return, 3.1% inflation, and 5% fed tax rate( After my deductions I probably won't be paying any taxes most years). At the end of 35 years, I should have 400k in todays dollars. Many things can happen in 35 years, but I think the calculators results are more likely than not.

[siamamerican]

Just one comment. You will be working 7 days a week to make $500 a week in most teaching positions in Chiangmai. Good luck on that figure.

I thought he meant $500 per month, which is now about 19,000 baht/month. It seems ludicrous, though, to go from the incredible earnings he currently claims, to earn 250 baht per hour in Chiang Mai.

Your right, 20,000 bt per month teaching. I could easily do that working part time teaching privates or at a university. It might be a little ludicrous to walk away from my current earnings for most people. I'm doing it because I want to enjoy life and I love living in Thailand. I always seem to land on my feet. Just 4 years ago I was close to broke and cleaning pools after returning from Thailand with little money. I could wait another year and I probably will, but at some point I need stop chasing the dollars. Unlike the first time I arrived in Thailand, this time I'll have the savings to probably stay for the long term.

[Tompa]

Your right, 20,000 bt per month teaching. I could easily do that working part time teaching privates or at a university. It might be a little ludicrous to walk away from my current earnings for most people. I'm doing it because I want to enjoy life and I love living in Thailand. I always seem to land on my feet. Just 4 years ago I was close to broke and cleaning pools after returning from Thailand with little money. I could wait another year and I probably will, but at some point I need stop chasing the dollars. Unlike the first time I arrived in Thailand, this time I'll have the savings to probably stay for the long term.

Hi,

You mentioned that you could save up around 10 million baht in about 2 years. If I were you I would stay for at least another 4 years to make sure your savings are well above what you calculate you need. You could always come to thailand for holidays during this time to enjoy yourself before you finally retire.

It might not be as easy as you think getting a part time gig in Thailand with the new laws kicking in. My local labor and immigration department has gotten a lot more careful issuing non b visa and work permits after the new visa regulations this October, requesting a huge amount of additional paper work compared to previous years. I guess you could do it below the radar, but I sure as hel_l would not want to do that right now.

Tompa,

[LoveDaBlues]

You forgot to say (unless I missed it) what specific region of Thailand you plan on living in. I was roughly in the same position as you a couple of years back; I retired in October of 2004. With investments and pay I was grossing roughly 150K per year when I retired. Never regretted my decision to get off the treadmill chasing the almighty dollar.

I think from your postings I have an idea of your lifestyle; but what area do you plan to live in? This is important and can have a bearing on advice given.

[Khun ?]

Siamamerican

Sounds like you have had much of a good life and at a young age no less.

Let us not forget past experiences to say the least to this point in life, you still have a long way to go we hope and life's averages say so. A bit impressive the earnings position you are presently in. Should we use the old saying fell in s*it ( cleaning pools for food money) and come out smelling like a rose ( maybe top 20% of wage earners in the U.S. and most likely top 1% of Thailand wage earners).

Why would you risk ,(at a not so old or young age) of having butter on your bread for maybe the rest of your life in a few years. Never would I estimate a 8% return in the not so ATM like stock markets.

You will need money in good and bad years of the markets and this you hope would leave you a safe

5% which is a no easy "safe" task at hand, considering everything involved with wise investing. One bad year could take 5 decent years to recover from.

Honestly I can say I have seen many of regretful mid and late life people who would tell you get

it while it is there, it may not last much longer anyways specially if you are in Subprime housing markets.

If you believe your chances of stepping in the pool life again will come out as last time you may be wrong and live the life of that pool man that you seem to of not liked ( must of been nice cleaning pools with all the hot chics sitting around). One in the hand is better than 10 in the bush comes to mind.

I've been married to a local before and seen enough of Thailand and I don't care if I ever see it again.

Things just change in life and I spent several years with your same plans and thoughts. To put it one way there is no more of a fool than an old fool or wise fool, and you are a prime candidate at present.

To think you have made your last mistake in life any time soon is a drastic understatement.

To let you know a bit more of my reasoning. I've been a fool about a decade longer than you and

have savings and earnings at present a few times more than you. My work may continue longer and may not and I am also heavy in the markets ( I am not counting that income that has been great lately also).

My parents are ok in their 70's and half of my immediate family had run over by the buss incidents.

I am going to go with the law of averages and stick it out a couple more years if its available for just

staying longer without looking for it. My dreams have grown past Thailand now that I am a bit older

now. I cannot remember how many years or countries I have lived in but there is one thing for sure

I still would like to see many more. I have no ball and chain to worry about anymore also. Yippeee

Life is great even if not fair much of the time.

Go for broke I need another good laugh.

Good Luck

[Khun ?]

You forgot to say (unless I missed it) what specific region of Thailand you plan on living in. I was roughly in the same position as you a couple of years back; I retired in October of 2004. With investments and pay I was grossing roughly 150K per year when I retired. Never regretted my decision to get off the treadmill chasing the almighty dollar.

I think from your postings I have an idea of your lifestyle; but what area do you plan to live in? This is important and can have a bearing on advice given.

You mean a guy making 6 figures in $ needs to woory about a region to live in.

What if the local government say's you know what we have to many retiree's with limited

budgets. ( seems like everyone with a few $ in their pocket wants to retiree young now days).

Under 50, 55 or 60 if you do not have income of $30K a year to spend we are going to limit visas

to 6 months a year. Millions of chinese are soon to be on their way also so most likely something will change in the not so distant future.

Many things could bring on drastic changes. Sources that would hurt the tourist industry like fuel and infastructure limiting resources ( water and electric are a couple more) may force a change in the ones they let settle down long term.

[backflip]

For retirement planning try: www.financialengines.com. It's not free but, despite the old chestnut, the best things are seldom are.

[siamamerican]

You forgot to say (unless I missed it) what specific region of Thailand you plan on living in. I was roughly in the same position as you a couple of years back; I retired in October of 2004. With investments and pay I was grossing roughly 150K per year when I retired. Never regretted my decision to get off the treadmill chasing the almighty dollar.

I think from your postings I have an idea of your lifestyle; but what area do you plan to live in? This is important and can have a bearing on advice given.

Not sure, but probably Chiang Mai. I lived there for a few years and had a great time. The negatives are the pollution and the dangerous drivers. I got in 3 accidents on my bike last time and all were the other drivers fault.

I'm somewhat of a loner, but was treated fine by the locals. While I was in the hospital after one of my accidents, someone took my mountain bike from the police stations storage facility. A few Thais got me free legal representation and the police ended up giving me 120,000 bt for the lost bike.

It does sound as if your situation was roughly the same as my current situation. I'm making over 200k now, but this is well above what I made at my jobs before 2003. 3 years ago I was fortunate to be in the right place at the right time and not taking it for granted. As for chasing the dollar, I'll probably do it for 1 more year. My employer has added a 1 year retention bonus to my comp. It's based on performance, but should be roughly 50-100% of my base if performance targets are hit. I would be happier if I moved to Thailand, but 1 year will fly by. Many of the people in this post recommend working for a few more years and vacationing in Thailand. I've done that the last few years, but it messes with my head. I'm usually depressed for a couple months upon returning to the US.

[Khun ?]

My math may not be what it use to be.

Will the guy have any cash and how will this 109% thing work.

I am sorry hard for me to grasp this retiree young math stuff they use now days.

Please send me some instructions on this stuff I am very interested.

I was thinking of borrowing a bit against my present investments at low rate and try to beat the interest fee's in the market. If I took 6 months of my wages invested it and paid back over a year was a thought.

Asset allocation is the most important step.

You need a plan. Stick to the plan.

Don't watch CNBC or read too many investment magazines or you will be tempted to trade too often.

Sample, balanced retirement Portfolio at Vanguard.

Rebalance positions once a year, selling the winners(high) and buying the underperformers(low).

Having a portion in an IRA is good as you can sell / reallocate, the winners without tax consequences.

Equities

12% Vanguard Value Index (VIVAX)

12% Vanguard 500 Index (VFINX)

6% Vanguard Small Cap Index (NAESX)

6% Vanguard Small Cap Value (VISVX)

6% Vanguard REIT Index (VGSIX)

6% Vanguard International Value (VTRIX)

6% Vanguard International Growth (VWIGX)

6% Vanguard Emerging Markets Stock (VEIEX)

Fixed income

10%Vanguard Short-term Bond Index (VBISX)

19% Vanguard Short-term Federal (VSGBX)

10% Vanguard Intermediate-Term Bond Index (VBIIX)

10% Vanguard Intermediate Treasury (VFITX)

[LoveDaBlues]

Not sure, but probably Chiang Mai. I lived there for a few years and had a great time. The negatives are the pollution and the dangerous drivers. I got in 3 accidents on my bike last time and all were the other drivers fault.

I'm somewhat of a loner, but was treated fine by the locals. While I was in the hospital after one of my accidents, someone took my mountain bike from the police stations storage facility. A few Thais got me free legal representation and the police ended up giving me 120,000 bt for the lost bike.

It does sound as if your situation was roughly the same as my current situation. I'm making over 200k now, but this is well above what I made at my jobs before 2003. 3 years ago I was fortunate to be in the right place at the right time and not taking it for granted. As for chasing the dollar, I'll probably do it for 1 more year. My employer has added a 1 year retention bonus to my comp. It's based on performance, but should be roughly 50-100% of my base if performance targets are hit. I would be happier if I moved to Thailand, but 1 year will fly by. Many of the people in this post recommend working for a few more years and vacationing in Thailand. I've done that the last few years, but it messes with my head. I'm usually depressed for a couple months upon returning to the US.

Well I stayed in CM for 3 weeks and your take on the pollution is correct in my opinion and will only get worse. Of course nothing like BKK. No way would I own/drive a motorcycle in Thailand; possible exception short/slow trips to local market etc. Everyone in my wife's family has had at least one wreck on a motorcycle. I had a wreck while driving my Fortuner; collided with a 17 year old Thai male driving his 100cc Honda. Guess who spent 3 days in the hospital? In Thailand it's not IF you're going to have a wreck it's WHEN. I prefer to have 4,000 pounds of steel around me when my wreck(s) happen.

I'm also in the 'rent' camp but just recently got a good deal on a piece of land. I can just about build a house on the money I saved so it's a no-brainer for me to build (hoping for the Baht to weaken though).

You may consider this to be REAL SURE your money lasts. Buy a nice condo in CM and keep working until you have earned back the cost of the condo. Your monthly 'nut' will then be much lower and with your current block of cash you should be just fine. Later on (say a few years) if you decide CM is no longer your cup of tea you can sell the condo; even if you take a small loss you will probably be ahead considering the rent saved.

I fully understand where you're coming from with regards to GETTING OUT of the rat race. Good luck.

[LoveDaBlues]

You forgot to say (unless I missed it) what specific region of Thailand you plan on living in. I was roughly in the same position as you a couple of years back; I retired in October of 2004. With investments and pay I was grossing roughly 150K per year when I retired. Never regretted my decision to get off the treadmill chasing the almighty dollar.

I think from your postings I have an idea of your lifestyle; but what area do you plan to live in? This is important and can have a bearing on advice given.

You mean a guy making 6 figures in $ needs to woory about a region to live in. What if the local government say's you know what we have to many retiree's with limited

budgets. ( seems like everyone with a few $ in their pocket wants to retiree young now days).

Under 50, 55 or 60 if you do not have income of $30K a year to spend we are going to limit visas

to 6 months a year. Millions of chinese are soon to be on their way also so most likely something will change in the not so distant future.

Many things could bring on drastic changes. Sources that would hurt the tourist industry like fuel and infastructure limiting resources ( water and electric are a couple more) may force a change in the ones they let settle down long term.

Yes, because when he stops working he is no longer making the 6 figure pay. It's a LOT cheaper to live in say Udon Thani than Bangkok

[Khun ?]

Humm would of never realized it. Lucky I sold my 3bdrm house in Thailand and now come and go

as I please without a thought of what was left behind or where in Thailand I will visit next. What a relieve not being tied down any where. No worrying about break in's or tieing up funds that could be earning money. I guess you could say life in the last lane from here on out.

[PeaceBlondie]

siamamerican, your story as you've presented yourself puts you in the top 0.1% of all human beings. From pool cleaner to $200,000 per year, even when you make trips to Thailand and stay depressed afterward. Hey, come on over to clean, uncongested Chiang Mai, where every backpacker who falls off the turnip truck makes 1,800 baht per hour for teaching corporate executives who are thicker than thieves at Tha Pae Gate. Speaking of absurd, how ridiculous would it be to have 98 trillion satang in the bank and be working illegally for 250 baht per hour? The starting rate in Chiang Mai for teaching at a language school is 200 to 250 baht per hour, and if you're freelancing, I'd hate to see the schedule it would take to earn even 15,000 baht (roughly 15 hours per week).

Good luck. Hey, buddy, could you give me 500,000 spare baht?

[JimsKnight]

siamamerican, your story as you've presented yourself puts you in the top 0.1% of all human beings. From pool cleaner to $200,000 per year, even when you make trips to Thailand and stay depressed afterward. Hey, come on over to clean, uncongested Chiang Mai, where every backpacker who falls off the turnip truck makes 1,800 baht per hour for teaching corporate executives who are thicker than thieves at Tha Pae Gate. Speaking of absurd, how ridiculous would it be to have 98 trillion satang in the bank and be working illegally for 250 baht per hour? The starting rate in Chiang Mai for teaching at a language school is 200 to 250 baht per hour, and if you're freelancing, I'd hate to see the schedule it would take to earn even 15,000 baht (roughly 15 hours per week).

Good luck. Hey, buddy, could you give me 500,000 spare baht?

LOL!

Yeah there is some reason to Blondies comments here.

I really don't agree with people who aren't even english qualified teachers coming over here to blag their way into a job. For a start a lot of them don't even speak thai! I mean when I was at school the french and german teachers spoke fluent french and german AND could speak fluent english so we knew <deleted> they were saying.

English teachers who can't speak even conversational thai getting work at a thai school teaching english... Amazing!

Getting paid mega bucks... Incredulous!

I'm not digging at you Siam American but you are aiming at pie in the sky on the english thing!

[PeaceBlondie]

JimsKnight, that's how TEFL is taught - by a trained teacher who needn't speak one word of the students' native tongue! And 17,000 baht is probably the LOW AVERAGE or mean salary of Thai teachers of English, since most of them are fully tenured, senior teachers. We just heard of a Thai teacher of English earning over 60,000 baht in the north!

siamamerican, let me come clean and tell you openly: your story is fantastic. It's difficult to believe.

[qualtrough]

JimsKnight, that's how TEFL is taught - by a trained teacher who needn't speak one word of the students' native tongue! And 17,000 baht is probably the LOW AVERAGE or mean salary of Thai teachers of English, since most of them are fully tenured, senior teachers. We just heard of a Thai teacher of English earning over 60,000 baht in the north!

siamamerican, let me come clean and tell you openly: your story is fantastic. It's difficult to believe.

I too think it is fantastic and have had some doubts since the beginning. The bit about not qualifying for SS although working part-time for 20 years doesn't make sense to me. I left the US more or less for good at age 26. I paid SS a few years more after that in low wage jobs, yet still meet the minimum for SS payout, if it and I still exist when I am retirement age. Going from pool cleaner to saving 200,000 a year to wanting to teach for peanuts and eke out a lifetime retirement on two years savings is also hard to understand. But the topper is being recompensed 120,000 Baht for a missing mountain bike by Thai police. Oh please! If the OP's story is true he should write a book, as it sounds like an unbelievable story. I smell a rat.

[Naam]

Oh please! If the OP's story is true he should write a book, as it sounds like an unbelievable story. I smell a rat.

perhaps we shouldn't be too hard on "siamamerican" as far as his earnings are concerned. he mentioned that he is working in the mortgage business. that business was exploding until recently as people refinanced over and over. assuming he was paid a commission on deals concluded he might have earned indeed the money he claims.

[Beavis and Butthead]

Just one comment. You will be working 7 days a week to make $500 a week in most teaching positions in Chiangmai. Good luck on that figure.

I thought he meant $500 per month, which is now about 19,000 baht/month. It seems ludicrous, though, to go from the incredible earnings he currently claims, to earn 250 baht per hour in Chiang Mai.

I would call it monumentally ludicrous and perhaps throw in insane. Also, I would never ever put your retirement egg in the hands of the likes of Goldman sachs and the wall st ripoff artists. They will rape and pillage you. How you gonna time that entry point? enter at the wrong time and you lose 8% annually or more.

[Beavis and Butthead]

Not sure, but probably Chiang Mai. I lived there for a few years and had a great time. The negatives are the pollution and the dangerous drivers. I got in 3 accidents on my bike last time and all were the other drivers fault.

I'm somewhat of a loner, but was treated fine by the locals. While I was in the hospital after one of my accidents, someone took my mountain bike from the police stations storage facility. A few Thais got me free legal representation and the police ended up giving me 120,000 bt for the lost bike.

It does sound as if your situation was roughly the same as my current situation. I'm making over 200k now, but this is well above what I made at my jobs before 2003. 3 years ago I was fortunate to be in the right place at the right time and not taking it for granted. As for chasing the dollar, I'll probably do it for 1 more year. My employer has added a 1 year retention bonus to my comp. It's based on performance, but should be roughly 50-100% of my base if performance targets are hit. I would be happier if I moved to Thailand, but 1 year will fly by. Many of the people in this post recommend working for a few more years and vacationing in Thailand. I've done that the last few years, but it messes with my head. I'm usually depressed for a couple months upon returning to the US.

Well I stayed in CM for 3 weeks and your take on the pollution is correct in my opinion and will only get worse. Of course nothing like BKK. No way would I own/drive a motorcycle in Thailand; possible exception short/slow trips to local market etc. Everyone in my wife's family has had at least one wreck on a motorcycle. I had a wreck while driving my Fortuner; collided with a 17 year old Thai male driving his 100cc Honda. Guess who spent 3 days in the hospital? In Thailand it's not IF you're going to have a wreck it's WHEN. I prefer to have 4,000 pounds of steel around me when my wreck(s) happen.

I'm also in the 'rent' camp but just recently got a good deal on a piece of land. I can just about build a house on the money I saved so it's a no-brainer for me to build (hoping for the Baht to weaken though).

You may consider this to be REAL SURE your money lasts. Buy a nice condo in CM and keep working until you have earned back the cost of the condo. Your monthly 'nut' will then be much lower and with your current block of cash you should be just fine. Later on (say a few years) if you decide CM is no longer your cup of tea you can sell the condo; even if you take a small loss you will probably be ahead considering the rent saved.

I fully understand where you're coming from with regards to GETTING OUT of the rat race. Good luck.

I've got an even better strategy than having 4000 pounds of steel around me when I have an accident. It's called have no vehicle even if that means having living expenses around the 100K mark per month in central BKK. I have never comandeered any vehicle in this country and never will. I will pay my premium to live in the center of the city where I can walk or transit everywhere. Only now I have bombs going off nearby

[siamamerican]

JimsKnight, that's how TEFL is taught - by a trained teacher who needn't speak one word of the students' native tongue! And 17,000 baht is probably the LOW AVERAGE or mean salary of Thai teachers of English, since most of them are fully tenured, senior teachers. We just heard of a Thai teacher of English earning over 60,000 baht in the north!

siamamerican, let me come clean and tell you openly: your story is fantastic. It's difficult to believe.

I too think it is fantastic and have had some doubts since the beginning. The bit about not qualifying for SS although working part-time for 20 years doesn't make sense to me. I left the US more or less for good at age 26. I paid SS a few years more after that in low wage jobs, yet still meet the minimum for SS payout, if it and I still exist when I am retirement age. Going from pool cleaner to saving 200,000 a year to wanting to teach for peanuts and eke out a lifetime retirement on two years savings is also hard to understand. But the topper is being recompensed 120,000 Baht for a missing mountain bike by Thai police. Oh please! If the OP's story is true he should write a book, as it sounds like an unbelievable story. I smell a rat.

Thanks for the vote of confidence.

When did I stated that I didn't qualify for SS? In an earlier post, I did state I would receive roughly $1000 per month in 36 years( meant 26 years). I expect SS to be around, but I'm not depending on it.

I cleaned pools for 6 months after returning form Thailand. I had been out of the job market for 3 years and jobs were hard to find in 2002. In lieu of staying home(my parents house) and feeling sorry for myself, I worked for a friend cleaning pools. It was the hardest job I ever had. The Arizona heat was unbearable at times.

Cleaning pools was a humbling experience, but it motivated me to look that much harder for a god job. I had great jobs before going to Thailand and I knew it was just a matter of time until I found another one. 6 months later I found that job and a year after that, I found an even better one.

My bike story is unbelievable, but it happened. I was fortunate to know some influential Thais I had met through mountain biking; without them I wouldn't have received a penny. It was odd how it ended, but probably the norm in Thailand. I met with the police chief(title?) and my lawyer. A couple days later my girlfriend(wife now) receive a phone call, instructing me to meet a police officer at a restaurant. The police officer gave me an envelope with 120,000 bt and apologized. My few non-Thai friends thought I was crazy to accept the cash.

I don't think I can make you understand why I would leave my current situation to eke out a retirement in Thailand. I don't plan on eking out a living. I'm not going to live the high life, but plan on being comfortable and enjoying myself.

I also can't make you believe me and I realize my bike story isn't going to further this cause.

[siamamerican]

Oh please! If the OP's story is true he should write a book, as it sounds like an unbelievable story. I smell a rat.

perhaps we shouldn't be too hard on "siamamerican" as far as his earnings are concerned. he mentioned that he is working in the mortgage business. that business was exploding until recently as people refinanced over and over. assuming he was paid a commission on deals concluded he might have earned indeed the money he claims.

I am in the mortgage industry and your right, the mortgage industry had a great run through 2005. Unlike the rest of the industry that had a rough 2006, my department( I head the subprime department ) continues to grow. We had a record 4th quarter. I'm happy with my compensation, but it is far from unrealistic. I'm the lowest paid exec at the company. My performance warrants otherwise, but they took a risk in hiring me and I feel very fortunate. If my good friend wasn't the CFO, I would have never been hired.

[LoveDaBlues]

Not sure, but probably Chiang Mai. I lived there for a few years and had a great time. The negatives are the pollution and the dangerous drivers. I got in 3 accidents on my bike last time and all were the other drivers fault.

I'm somewhat of a loner, but was treated fine by the locals. While I was in the hospital after one of my accidents, someone took my mountain bike from the police stations storage facility. A few Thais got me free legal representation and the police ended up giving me 120,000 bt for the lost bike.

It does sound as if your situation was roughly the same as my current situation. I'm making over 200k now, but this is well above what I made at my jobs before 2003. 3 years ago I was fortunate to be in the right place at the right time and not taking it for granted. As for chasing the dollar, I'll probably do it for 1 more year. My employer has added a 1 year retention bonus to my comp. It's based on performance, but should be roughly 50-100% of my base if performance targets are hit. I would be happier if I moved to Thailand, but 1 year will fly by. Many of the people in this post recommend working for a few more years and vacationing in Thailand. I've done that the last few years, but it messes with my head. I'm usually depressed for a couple months upon returning to the US.

Well I stayed in CM for 3 weeks and your take on the pollution is correct in my opinion and will only get worse. Of course nothing like BKK. No way would I own/drive a motorcycle in Thailand; possible exception short/slow trips to local market etc. Everyone in my wife's family has had at least one wreck on a motorcycle. I had a wreck while driving my Fortuner; collided with a 17 year old Thai male driving his 100cc Honda. Guess who spent 3 days in the hospital? In Thailand it's not IF you're going to have a wreck it's WHEN. I prefer to have 4,000 pounds of steel around me when my wreck(s) happen.

I'm also in the 'rent' camp but just recently got a good deal on a piece of land. I can just about build a house on the money I saved so it's a no-brainer for me to build (hoping for the Baht to weaken though).

You may consider this to be REAL SURE your money lasts. Buy a nice condo in CM and keep working until you have earned back the cost of the condo. Your monthly 'nut' will then be much lower and with your current block of cash you should be just fine. Later on (say a few years) if you decide CM is no longer your cup of tea you can sell the condo; even if you take a small loss you will probably be ahead considering the rent saved.

I fully understand where you're coming from with regards to GETTING OUT of the rat race. Good luck.

I've got an even better strategy than having 4000 pounds of steel around me when I have an accident. It's called have no vehicle even if that means having living expenses around the 100K mark per month in central BKK. I have never comandeered any vehicle in this country and never will. I will pay my premium to live in the center of the city where I can walk or transit everywhere. Only now I have bombs going off nearby

If I lived in BKK I wouldn't own a vehicle either. But I don't like BKK except for a visit and where I live in the country a vehicle is a must.

[Heng]

For single folks, that's fine. If you have a family, a vehicle (and often more than one) is a must IMO.

[Bruce1]

I wouldn't ride a motorcycle in Thailand. Three quarters of the road fatalities are motorcyclists, and I blame that equally on the riders and on the crazy motorists. The riders do idiot things like turning in front of vehicles and riding on high speed roads at 50km/h and riding in the opposite direction to the traffic. and some of the drivers, particuly those in pickups, are just loony and force everyone off the road. The bigger you are the safer you are. If I could afford a Range Rover or a Hummer I'd buy one just to feel safer.

If I were you I'd budget to buy a vehicle. If nothing else, it's a convenient way to go touring around the country.

[Khun ?]

another closure in subprime land --

They have cut many jobs in subprime.

Mortgage Lenders Network Halts Loans as Housing Slows (Update2)

By Bradley Keoun

Jan. 2 (Bloomberg) -- Mortgage Lenders Network USA Inc. became the third company in a month to stop issuing some loans as U.S. housing sales slowed and defaults by borrowers rose.

The company, known as MLN, said today in a statement it will ``temporarily discontinue'' wholesale lending operations. The Middletown, Connecticut-based company is ``involved in strategic negotiations with several Wall Street firms'' about the wholesale unit, which consists of a network of independent mortgage brokers that bring in loan requests.

``The economics of the wholesale mortgage market have deteriorated dramatically over the past two months industrywide,'' MLN Chief Executive Officer Mitchell Heffernan said in the statement, which added that retail operations and the mortgage-servicing unit remain open. ``Until we see credit quality and margins return to acceptable levels, we have determined that MLN needs to pause from wholesale broker originations.''

Lenders including Ownit Mortgage Solutions Inc. and Sebring Capital Partners LP, which also specialize in ``sub-prime'' mortgages, were among companies that closed operations and cut staff in 2006 as loans to high-risk customers soured. Nationwide, late payments on sub-prime loans rose during the third quarter to 12.56 percent of the total, the most since the first quarter of 2003, the U.S. Mortgage Bankers Association said.

Sub-Prime Shakeout

Ownit, based in Agoura Hills, California, and the 16th- biggest issuer of sub-prime home loans, filed for bankruptcy court protection last week. Sebring, of Carrollton, Texas, closed in December. Morgan Stanley bought mortgage lender Saxon Capital Inc. for $706 million early last month and announced plans to slash 170 jobs.

``What you're seeing is a shakeout as it relates to the lower-tier mortgage players,'' said Rui Pereira, a managing director in the residential mortgage group at Fitch Ratings.

MLN opened a decade ago with seven people. It grew to employ 1,800 people as falling interest rates early this decade spurred record mortgage applications. As recently as Dec. 8, Heffernan, 49, said in a statement that MLN was ``actively accepting loan submissions'' and that the company ``continues its growth and expansion.''

In May, the company broke ground on a 305,000-square-foot headquarters in Wallingford, Connecticut, in a ceremony attended by Governor Jodi Rell and the town's mayor, William Dickinson. Heffernan said he planned to add almost 1,000 jobs in the state within the next three years.

Brokerages Are Buying

The company told officials the project, which is now in early construction, would cost $60 million to $70 million, Dickinson said in an interview. MLN separately announced plans to open a 180,000-square-foot facility with 650 jobs in Phoenix and expand offices near Philadelphia and Atlanta.

Closely held MLN is the 15th-biggest issuer of sub-prime mortgages, with $3.3 billion of loans in the third quarter, according to the industry publication National Mortgage News. Sub-prime mortgages are made to people with low incomes, a track record of missed payments or limited credit histories.

Brokerage firms including Morgan Stanley, Barclays Plc and Deutsche Bank AG have been buying mortgage companies, including sub-prime lenders and servicing units, because they can repackage home loans into larger securities and sell them to clients who want interest income. On Dec. 30, Merrill Lynch & Co. completed the $1.3 billion purchase of National City Corp.'s First Franklin sub-prime lending and servicing unit, National City said today.

[backflip]

I cannot vouch for the veracity of the OP or his story. However, it's not beyond the scope of reality that some people consider other things more important than money. I know that this concept is difficult to accept for some TVers - some would sell their souls for a beer. How do explain the fact that Osama bin Laden is still walking around? With a $25 million bounty on his head, you'd expect that he'd be turned in within an hour. However, his crowd is more interested in things religious, rather than financial. I resigned from a job that paid in the neighborhood as the OP's employment, and then moved to mainland China to work for considerably less (though, for more than 250THB/hour). I made the move to experience living and working, as compared to "visiting" in mainland China, and to placate my irrational desire of Chinese women.

[siamamerican]

JimsKnight, that's how TEFL is taught - by a trained teacher who needn't speak one word of the students' native tongue! And 17,000 baht is probably the LOW AVERAGE or mean salary of Thai teachers of English, since most of them are fully tenured, senior teachers. We just heard of a Thai teacher of English earning over 60,000 baht in the north!

siamamerican, let me come clean and tell you openly: your story is fantastic. It's difficult to believe.

PeaceBlondie, My story is somewhat unbelievable. I've been extremely lucky the last few years. Three years ago I knew eventually I would recover financially, but I never dreamed it would happen so fast. As for teaching for peanuts(250 bt/hr), hopefully I can make more. 5 years ago a language school paid me 300 bt in Chiang Mai. I don't have enough money to retire without working. 20-30 hrs at 250-400 bt an hour would suffice.

Another thing to consider is that my story has been consistent. Most people that lie get caught either because they aren't that intelligent or they contradict themselves. I'm not that intelligent, but still haven't contradicted myself.