5 Million in the bank and want to chill out

[baneko]

I posted some time ago that I had 3 M in the bank and asked how long I could survive in Thailand.

 

My contract in Africa is finished next rotation so after 3.5 yrs there plan to relax....for a while anyway.

 

I haved saved 5M baht. Could have been more but payed off my house, bought a couple of rai(Chonburi) and paid off the car.

 

Now I dont want to survive but live within my means. I live in a small village. No pubs, restataunts. Have a trip to BKK rarely to stock up on farang food I enjoy occasionslly. One daughter who goes to a good Thai School.

 

The wife has a mushroom buisness and makes 20k a month.

 

How long can I chill before becoming farang Kee Nok?

[bbi1]

"The wife has a mushroom buisness and makes 20k a month." - Please clarify exactly what "type" of mushrooms are in her business. Is it the legal or illegal kind? 

 

"Now I dont want to survive but live within my means. I live in a small village. No pubs, restataunts. Have a trip to BKK rarely to stock up on farang food I enjoy occasionslly. One daughter who goes to a good Thai School." - Sound like an absolutely boring place with nothing about. You could probably live a few decades on those funds as there's nothing to do at all therefore you would spend only money for food and water.

[55Jay]

How old are you?

 

Does this 5 million represent your entire portfolio, or do you have other assets and cash/investments?

 

Paying off debt items was a good move.  Doesn't that feel great?

Edited June 17, 2017 by 55Jay

[tonray]

Invest it and after tax generate about 16K baht per month (assume a 4.25% return and 10% tax rate). Add that to your wife's 20K per month and you are good for eternity out in the sticks.

[tomwct]

Apply for 10 year visa.

[Jingthing]

Quote

How long can I chill before becoming farang Kee Nok?

Warning. 

CLICHE ALERT.

 

How long is a piece of string?

[baneko]

"The wife has a mushroom buisness and makes 20k a month." - Please clarify exactly what "type" of mushrooms are in her business. Is it the legal or illegal kind? 
 

"Now I dont want to survive but live within my means. I live in a small village. No pubs, restataunts. Have a trip to BKK rarely to stock up on farang food I enjoy occasionslly. One daughter who goes to a good Thai School." - Sound like an absolutely boring place with nothing about. You could probably live a few decades on those funds as there's nothing to do at all therefore you would spend only money for food and water.

BKK 1hr 30 and Pattaya around the same. Amata Nakhon and Bang Saen 45 mins and if I do need a blow out its pretty much on my doorstep.

The mushies are Het Fa I beleive they put in Tom Yam. If they were magic I could eat and party in a purple haze forever.

Boring is what you make of it. Lots happening friendy people.

[baneko]

How old are you?
 
Does this 5 million represent your entire portfolio, or do you have other assets and cash/investments?
 
Paying off debt items was a good move.  Doesn't that feel great?

I still own a property in the UK with no mortgage and an income of 700uk per month. Approx 150k uk for the apartment. 2 Rai in Chonburi possibly 1.1 million and my home here probably 3.5. Im 44 and do have oppertunities. Just fancy a break before im too old to enjoy it.

[Techno Viking]

own the house and car, budget 40k a month spend and you should be good for 10 years or so.

[champers]

I hope you haven't told your wife that you have 5 Million Baht.

[howard ashoul]

7 hours ago, tonray said:

Invest it and after tax generate about 16K baht per month (assume a 4.25% return and 10% tax rate). Add that to your wife's 20K per month and you are good for eternity out in the sticks.

Can you eloborate how you invest money with a guarantee return of 4.25%? 

Edited June 17, 2017 by howard ashoul

[tonray]

13 minutes ago, howard ashoul said:

Can you eloborate how you invest money with a guarantee return of 4.25%? 

Where do you see guarantee anywhere in my post? Long term investment for income is a tried and true method of generating income from a nest egg when not working.  Over the long term can be done with a relative degree of safety and predictability but not with a guarantee.

Edited June 17, 2017 by tonray

[meechai]

If as you say car house etc paid for

15 years on 5 mill baht easily

Not even counting your wife's 20k baht per month

 

[Ahab]

Make the move, you can rent a house or apartment in the country for a bunch less than 10,000 baht a month, and live very comfortably on 20,000 to 40,000 baht total per month. We are renting a three bedroom western style house in the sticks for 5,000 baht a month. A/C, hot and cold running water, single family home with an enclosed yard. Some will say they cannot live on one satang less than 100-200K baht per month. That may be true for the lifestyle and area they have closen to settle, but not true in rural Thailand. My opinion.

[overherebc]

15 hours ago, Jingthing said:

Warning. 

CLICHE ALERT.

 

How long is a piece of string?

half the length it would be if it was twice as long.

??

[baneko]

Make the move, you can rent a house or apartment in the country for a bunch less than 10,000 baht a month, and live very comfortably on 20,000 to 40,000 baht total per month. We are renting a three bedroom western style house in the sticks for 5,000 baht a month. A/C, hot and cold running water, single family home with an enclosed yard. Some will say they cannot live on one satang less than 100-200K baht per month. That may be true for the lifestyle and area they have closen to settle, but not true in rural Thailand. My opinion.

I live in the sticks already. Much cheaper than any of the holiday resorts.

[little mary sunshine]

5M Baht is a nice saving account to fall back on, 

however unless you have a guaranteed monthly

income of an additional 45-60K Baht, and you won't 

"chill" for very long....

[pumpjack]

"   Approx 150k uk for the apartment. 2 Rai in Chonburi possibly 1.1 million and my home here probably 3.5. "

 

150k  in uk is approx  6.6 million baht + your 1.1 for land in chon buri adds up to  7.7 million baht,  so your sums dont add up 

 

are you dreaming ? 

[RBOP]

I estimate 4 - 5 years tops if nothing happens like paying for school tuition, health issues, insurance, car replacement, vacations etc. Note that at 44 and planning to take a break for 2 or more years doesnt look good on your resume. You dont qualify yet for retirement visa either. Enjoy your break. 

[al007]

How long is a piece of string

 

I live in the sticks Issan and use 120,000 per month, on a good month

 

I also generate around 22% PA on my investments, I self manage, I am a retired FCA, (Chartered Accountant)

 

Be very careful of those wanting to give you investment advice, Thailand and asia are very full of rip off merchants, my wife ten yrs knows all I have, and that gives me comfort

 

Medical insurance ??

 

What government pensions

 

For comfort levels I would suggest 15M with house and car paid for, but many will say you could be OK on 5.0M

 

We have 2.5 people helping us, and live on a small plot 5 rai !

 

Be lucky Be careful and stay safe

[RBOP]

21 hours ago, tonray said:

Invest it and after tax generate about 16K baht per month (assume a 4.25% return and 10% tax rate). Add that to your wife's 20K per month and you are good for eternity out in the sticks.

where do you get 4.25% return from? Thats very good. Please share.

[MyFriend You]

How long can I chill before becoming farang Kee Nok?

 

as long as there is not someone in the familky that decides life is too slow where you are now and needs 5MB to move to Bangkok..............the trick t surviving in Thailand is being worth more alive than dead............I would move it off-shore in an interest bearing account and draw from it when you need it, nothing less.  I only have about one tenth of what I am worth in country, not that I don't trust my lady, I don't trust anyone.

[johnnysunshine]

Buy Gold at least 10% of your 5 Million so that you have some real currency rather than fiat currency!

[tonray]

36 minutes ago, RBOP said:

where do you get 4.25% return from? Thats very good. Please share.

A portfolio composed of dividend paying ETFs and individual stocks. US stock market for me but I assume you can do the same in Thai or any established market.

 

To share would be meaningless without knowing your goals and risk and also your ability to invest in the US market. But I will list the ETFs and you can configure them to your liking using allocations that make sense to you:

 

HDV

IDV

PFF

LQD

HYG

XLU

 

F

HSBC

ABBV

CVX

 

You can configure anyway to like to more or less yield than 4.25% but my portfolio is based upon these holdings and generates 4.25% per annum in income.

[Kabula]

With the current, worldwide financial/political, currency devaluations, threating wars and hyper-inflation, no one can answer that question accurately, even the 1 percenters.

Edited June 18, 2017 by Kabula

[dotpoom]

I don't have the money you have but I have never been happier in my whole life than I am today.

   I put this down to a few things.....I do my best to live one day at a time , in the now.I make plans but realise that the results are out of my hands so don't think about them too much. I live every moment with an Attitude of Gratitude (there were times when I had a lot more material stuff, inc. money but didn't realise how well off I was.

    I see the families in the London fire, I see the boat migrants drowning escaping wars etc., etc., etc., and say " there but for the Grace of God".

    I know this stuff has nothing to do with your question but sometimes a reminder to " count our blessings" can put many things in perspective.

[Foozool]

Wow, a wealthy man ‼️ ???

 

 

[Pat in Pattaya]

How about buying some friends and a personailty??

 

Tragic indivdual.

[eeyang wah]

1 hour ago, TunnelRat69 said:

the trick t surviving in Thailand is being worth more alive than dead..

"Like"

[Na Lee]

Only asking a very pertinent question. I thought thats what a forum was about. If I require attention I ask my wife.

And will she give it to you[emoji30] [emoji30] [emoji30] [emoji30]

Sent from my BLL-L22 using Thailand Forum - Thaivisa mobile app