How much are your outgoings each month?

[big jimmy]

Its nice to be a dreamer at 23...the world is your oyster....good luck son...you will need it......

[The understudy]

DrDuke
You are still young for this I would suggest a monthly expense of 35k to 45k for adequate but if zou wanna go to Phuket and Bangkok than I sugeest 60k to 65k.
DrDuke you can apply for work as an Private English language teacher with Parents who are willing pay a native english speaker by that way you can earn extra money but as I read you are working Online so working is not a problem for you. Once you are here and live here for a while have the feel for the Ctiy, region, people and culture. than please be my guest and participate in my discussion "Hua Hin in the year 2029!!!"

Your's sincerly The understudy!

[sargeant]

DD another thing at 23 years you will need to keep a serious third eye on exchange rates and they can go in both directions 60,000 this month can be 50,000 next

[Rider]

Dukey,
My advice is to save, save, save. If you stay on the straight and narrow and work hard you could retire to LOS by the time you are in your forties or fifties.
If you keep coming back and forth to LOS you may drain your cash reserves and when it comes to retirement time you'll find you won't have a pot to piss in or a window to throw it out of. On the other hand you may pull it off so...
As an old man once said, you pay the dues when you are young or you pay the dues when you are old, either way you will pay your dues.

[Pagey]

Migrant : How much is enough ?

I work in accounts and have formulated a retirement spreadsheet with interest earned on my capital less projected outgoings in Thailand. The capital erodes slightly each year,which is not a problem, until my Govt and company pension kick in at age 65, when it increases again.

A mate of mine retired to Jomtien near Pattaya says 'if you wait until you have enough, you will never have enough'.

[Norseman]

Migrant : How much is enough ?

I think you should reread last post from The understudy because he is right with his estimates of the monthly expences.

[STEVE G]

I would agree with The understudy as well on basic expenses but obviously there is a huge difference from person to person when it comes down to entertainment costs. I’ve met guys living up in Issan who farm for something to do, who are living on practically nothing and at the other end of the scale there is the crowd swanning around Hua Hin playing golf everyday.

[Pagey]

Norseman : I read all the posts. The Understudy states how much per month. Migrant stated when he has enough indicating a figure which means he can stop work, not a monthly outgoings figure.

[Norseman]

But isn't this still a question of mathematics?
Age, income, savings and expenses?

[Pagey]

Exactly Norseman, not a monthly figure quoted by the understudy hence my spreadsheet. I'm 46 so need my lump sum to last until I am 65. Do I need 200,000 GBP or 300,000 GBp etc.

I am interested in other peoples opinions and calculations to see if I am on the right track.

[migrant]

Migrant : How much is enough ?

I work in accounts and have formulated a retirement spreadsheet with interest earned on my capital less projected outgoings in Thailand. The capital erodes slightly each year,which is not a problem, until my Govt and company pension kick in at age 65, when it increases again.

A mate of mine retired to Jomtien near Pattaya says 'if you wait until you have enough, you will never have enough'.

I think it depends on the individual. I factored in a home purchase, utilities, entertainment, transportation, etc.

My kids are almost grown, and independent. My Thai Lady has land still in Hua Hin area.

My biggest expense is we want to travel, not just Thailand, or Asia, but back to the US (kids), and other areas, so that is my biggest expense.

Also, I am reserving enough if I need to come back to the states for something, long term.

Pagey, as you mentioned, you have the spreadsheets and interest rates. I think you have to work in personal expenses based upon the good people here and their input.

Being younger, in a way there is an advantage. Returning to the States at 60, looking for work would be much more difficult than your age.

Hope this was useful, anything else, please ask

[STEVE G]

Exactly Norseman, not a monthly figure quoted by the understudy hence my spreadsheet. I'm 46 so need my lump sum to last until I am 65. Do I need 200,000 GBP or 300,000 GBp etc.

I am interested in other peoples opinions and calculations to see if I am on the right track. :thumb:

Pagey, I did a few calculations on this during an idle moment and I reckon for every 10,000Bt per month that you need, you would have to invest just under 40,000 pounds. That is if you were investing in reliable bonds, such as US Treasury or similar, and allowing for a realistic degree of Thai inflation. What is difficult to take into account though are currency fluctuations, especially with the unstable nature of the Thai administration at present.

[DawnHRD]

One thing I've not seen mentioned is imported food & drink. If you can quite happily eat Thai all the time & go to street stalls rather than restaurants, or if you have a Thai wife/partner who shops at the market & cooks for you, you'll eat very cheaply. If you get hankerings for imported cheeses & deli meats, Sunday roasts with the trimmings, things like Branston pickle, or PG tips tea, (can you tell I'm British? ) or bottles of decent wine (scratch that, even cr@p plonk isn't cheap!) then you will find your outgoings going through the roof. It's amazing the difference in prices when you start indulging your tatebuds' homesickness!

[Pagey]

Dawn :

I do like and mainly eat Thai food although after 2 weeks of rice I ocassionally for lunch have a plate of chips with my couple of beers.

I have been living in saudi for over 4 years and not been to the UK so my drinking habits consist of home made wine and beer and Liptons yellow label tea so a visit to thailand and cold Singha is a treat !!

[Pagey]

Steve G :

Thats about what I am getting. 40,000 GBP at 4.5% is approx 10,000 per month. Thats in a basic offshore account and tax free. Not very adventorous but safe.

I have read Swiss Jerry ? investor page so may have to visit him next time I am in HH.