How much would you need to retire at 50 to Pattaya?

[tobeornottobe]

What you reckon guys?

[fusionx]

$500k USD invested, minimum, plus your future Social Security or other pension.

[westie1]

What you reckon guys?

 

State Pension age, is 68 in Ireland.

I would say 500k euro.

BUT BUT BUT. it all depends on the lifestyle you want.

[Goolabert]

You need 1,200 - 10,000 USD per month income depending what kind of lifestyle.

[southsidebruce]

you need enough $$ to be happy on a day to day basis - the cost of happiness varies greatly from one person to another... some can live on very little money, don't have to have Western style accommodation and food - and be happy with that, and others need a metricButteTonne of money to maintain their happiness in Pattaya, and others it doesn't matter how much money they have - they choose to be miserable, and they are experts at hating life and trying to share their misery with others, and they are this way no matter where they live... and after that happiness (or lack of it) factor amount of $$, you also need enough to cover for emergencies - health issues - maintenance and emergencies - and the older you are, the higher the odds of shit breaking down in your body, getting back to your FarangLand home of record (for family events, etc)... if you come here with a chunk o' money, and no steady income stream - then you need to be careful to budget and not blow through that chunk o' money... and/or blow through it and become a member of the Pattaya flying team and learn what it feels like to hit maximum velocity before you hit the ground... its a very difficult question to answer - as the amount needed varies SOOOOO MUCH from one person to another... 

[westie1]

you need enough $$ to be happy on a day to day basis - the cost of happiness varies greatly from one person to another... some can live on very little money, don't have to have Western style accommodation and food - and be happy with that, and others need a metricButteTonne of money to maintain their happiness in Pattaya, and others it doesn't matter how much money they have - they choose to be miserable, and they are experts at hating life and trying to share their misery with others, and they are this way no matter where they live... and after that happiness (or lack of it) factor amount of $$, you also need enough to cover for emergencies - health issues - maintenance and emergencies - and the older you are, the higher the odds of shit breaking down in your body, getting back to your FarangLand home of record (for family events, etc)... if you come here with a chunk o' money, and no steady income stream - then you need to be careful to budget and not blow through that chunk o' money... and/or blow through it and become a member of the Pattaya flying team and learn what it feels like to hit maximum velocity before you hit the ground... its a very difficult question to answer - as the amount needed varies SOOOOO MUCH from one person to another...

 

So 500k??????? :-)

[jocky king]

What you reckon guys?

Every individual is different , some drinks a lot , some mongers a lot , eat expensive foods , things like that . Best way to find out of your own budget is to experiment yourself while on holidays . My budget would be around 50,000 to 65,000 bt a month . But now the Thai baht is strong against the euro , so it has put my plans on hold for another while .

[Billy Baht]

I spent 10 years in Thailand and long term averaged about $1,100 USD/month.

5 in BKK, 3 in Pattaya and 2 in Chiang Mai.

Its doable if you don't live like a two week millionaire

 

Paid 5,000 baht/month for this room on the Dark Side. Even had a nice swimming pool!

 

 

 

 

 

 

[jerry]

I spent 10 years in Thailand and long term averaged about $1,100 USD/month.

 

5 in BKK, 3 in Pattaya and 2 in Chiang Mai.

 

Its doable if you don't live like a two week millionaire

 

Including rent , insurances , food , transport ... ? 

[jerry]

In Pattaya i spend about 3k Euro a month and i have a house , car , bike .

In Phnom Penh it's about 3k U$$ including rent for an apartment and rent

of motorbike .  

[westie1]

I spent 10 years in Thailand and long term averaged about $1,100 USD/month.

5 in BKK, 3 in Pattaya and 2 in Chiang Mai.

Its doable if you don't live like a two week millionaire

 

Paid 5,000 baht/month for this room on the Dark Side. Even had a nice swimming pool!

 

13k a year.??

Jaysus. That's tough going.

In Pattaya i spend about 3k Euro a month and i have a house , car , bike .

In Phnom Penh it's about 3k U$$ including rent for an apartment and rent

of motorbike .

 

Are you retired jerry?

[Billy Baht]

Including rent , insurances , food , transport ... ?

Included all of my living expenses. Some months I spent more, some less...

 

I self insure for health care; my motorcycle insurance was the standard government insurance.

 

Some guys will say it can't be done on $1,100/month, up to them.

 

It wasn't 'tough going' for me.

 

I could spend more if I want to, but why?

 

Thailand is a developing nation, so I expect it to be cheap.

[jocky king]

Included all of my living expenses. Some months I spent more, some less...I self insure for health care; my motorcycle insurance was the standard government insurance.Some guys will say it can't be done on $1,100/month, up to them.It wasn't 'tough going' for me.I could spend more if I want to, but why?Thailand is a developing nation, so I expect it to be cheap.

Healthcare cost 50,000 bt approx a year in Thailand !!! Am I right ?

[davidge]

If you wanted to live off the interest and keep the capital intact AND have a very comfortable ex-pat lifestyle in Pattaya, I reckon you'd need 1.5 million Euro in the bank.

 

That would give you 90000 baht a month if rates were 3.5%

[westie1]

If you wanted to live off the interest and keep the capital intact AND have a very comfortable ex-pat lifestyle in Pattaya, I reckon you'd need 1.5 million Euro in the bank.

That would give you 90000 baht a month if rates were 3.5%

Would you keep that kind of money in a Thai bank account.

[jocky king]

Would you keep that kind of money in a Thai bank account.

Agreed , never put all eggs in one basket .

[davidge]

No. I was looking at interest rates for Savings accounts in a Dublin bank today to do the calculations.

 

Arrange for an automatic transfer each month.

 

Keep enough in Thailand just to get the Retirement Visa.

 

Edit: I wouldn't actually keep that amount in any single bank account. It just made the calculations easier to work off a single lump sum and single interest rate.

[westie1]

Included all of my living expenses. Some months I spent more, some less...I self insure for health care; my motorcycle insurance was the standard government insurance.Some guys will say it can't be done on $1,100/month, up to them.It wasn't 'tough going' for me.I could spend more if I want to, but why?Thailand is a developing nation, so I expect it to be cheap.

 

Billy

The 'tough going' comment is coming from a two week millionaire.

40000 baht a month does not seem a lot.

Bike,Room,Insurance,Food,Drink,Girls, hobbies, Etc

[jocky king]

No. I was looking at interest rates for Savings accounts in a Dublin bank today to do the calculations.

Arrange for an automatic transfer each month.

Keep enough in Thailand just to get the Retirement Visa.

What Irish bank are you referring to ?

[overseas516]

I had budgeted back in 1999 when I first came to LOS that I would need to have as a monthly income of around 150,000 Baht per month to be able to retire. When I first came to LOS in 1999 it was 76 Baht to the £.

 

According to my financial advisor I will have achieved this figure (at today's exchange rate) that is index linked by the time I retire from working completely at the age of 52. It would have been at the age of 48 if it was not for the financial crash.

 

On reflection I would say that the minimum amount I would consider to be able to retire is around 100,000 Baht per month and must be index linked. I would also base it on the British £ was around 40 Baht to the £. The lowest I have seen the £ against the Baht is around 42.30.

 

I look forward to hearing other BM's thoughts.

[westie1]

Agreed , never put all eggs in one basket .

 

When are you making the big move???

[jocky king]

When are you making the big move???

Don't know yet , came home last week and find my house in a mess , my 20 years old daughter having a party there since I went to thailand . Trust is lost there . Plus the euro is weak against the baht . Decided to move next march 2016 but that might change because of this . She put the gas heating on to a 24/7 instead of automatic on/off timer . Lol .

[davidge]

What Irish bank are you referring to ?

Sorry Jocky. I did a quick search, went to a website and just looked at the rate quoted on first page.

 

It was KBC Bank, the 3.5% is for regular Savings each month. Normal deposit accounts are under 2%. Trying to search and watch the Merseyside Derby at the same time!

Guess you'd need more of a lump sum!

 

It would take a bit of looking around but, given rates are at an all time low in most of Europe, I reckon you can look for 3.5% on average over 15-20 years, which is the sort of timescale we're looking at.

[overseas516]

Don't know yet , came home last week and find my house in a mess , my 20 years old daughter having a party there since I went to thailand . Trust is lost there . Plus the euro is weak against the baht . Decided to move next march 2016 but that might change because of this . She put the gas heating on to a 24/7 instead of automatic on/off timer . Lol .

Some Party she had "Jockey King" weren't you in LOS for a month or more?

[jerry]

Are you retired jerry?

 

I retired when i was 40 ... that's 8 years ago now .