Your solutions on 3 million baht to find longevity here

[Spitfire]

If you had 3 million baht ($100K US/60k UK pounds) and wanted to start a sustainable expat life here with a wife/kid plus achieve longevity, but weren't of retirement age or in receipt of a pension or any other income.....what would you suggest or do?

Only parameters are not opening a bar or teaching.

Is it enough or is it do-able, and if so....then how? Any suggestions?

If you think "Nay", then say so.

Interested to know what you guys would do in that situation despite many of you being in much more lavish settings/circumstances.

I had this question asked of me by a few friends (some with Thai girlfiends or wives) that say they have some money but not too much and are seriously considering moving from the UK. I must admit that I suggested starting a 7-11 or something after being here for a year or so.

Thanks for any replies as I don't live by the beach so have limited authority on such beach touristy destinations.

[apollokeith]

Have thought about it myself. Depends where you are, but a corporate business is more likely to succeed if you are not a Thai National.

[dtaai-maai]

Lump sum 3 million baht, no other income, under 50, married + kid, give up job and come to live in HH with no prospect of employment. Can't teach to make an honest buck.

Not to put too fine a point on it, you'd have to be barking mad.

[kendo]

I often think " stop the ride, i want to get off " i will watch this thread with great interest Spitfire.

Some times i get quite unhappy with my life in the UK i work as a Super Post Panamax crane driver, and have good terms and conditions and a final salary pension.

I also have a small courier business that i run on my four days off each week with one employee.

I think recession don't moan work harder for the good things in life, but the more i do the harder it is to slow down some times i feel like a burnt out greyhound, so when i do take a few days off i cant relax for very long no more than a day, i am biting at the bit.

Now i am 41, and at 47, i would have clocked up 25, years of 12, hour shift work, if i clock up my full service to 63, i recon i will be in my box before i have had time really to enjoy my life in Thailand.

I wish i had the answer to come over now and enjoy my life young but i cant see anything i can do to support my family and even with a fairly large some of funds if sold up, that does not last long when not working.

For me working off shore is not what i got married and had a baby for and over 7 years with my Mrs i am no closer to finding the answer.

This thread is already very thought provoking as this is something that i think and dream of a lot in my very fast life.

Kendo.

[STEVE G]

I don't have the answer, if I did I'd be there! On the other hand I'm sure it's possible and would be worth a try as long as you're not burning any bridges by investing the money that you do have.
If you could start some kind of business that could be run by a partner that would then give you the option of doing some sort of contract work overseas at times to supplement your income, it would make it less of a risk.

[dtaai-maai]

I don't have the answer, if I did I'd be there! On the other hand I'm sure it's possible and would be worth a try as long as you're not burning any bridges by investing the money that you do have.
If you could start some kind of business that could be run by a partner that would then give you the option of doing some sort of contract work overseas at times to supplement your income, it would make it less of a risk.

Surely the whole point of Spitfire's question is that you're burning all your bridges and coming here with 3 million baht and no prospect of any other external income. That's the basis of my "barking mad" comment. If you could work overseas and earn real money, that would presumably be your income rather than a supplement and would be a whole different ballgame with no risk at all.

[hhfarang]

Not nearly enough.

[brianks]

Agree with HH Farang. Not nearly enough and someone has to be dreaming to think they can make it very long with those resources.

[richard]

Go and live in an Isaan village. Don't smoke, don't drink, eat off the land and quietly go mad. Bank 2 of the 3 million in order to buy yourself a straight jacket and a ticket home

[icebear]

With B 20'000 a month expenditure you'll last 12 years and a few months,

with B 15'000 a month expenditure you'll last 16 years and a few months.

I leave it up to you to decide.

[buksida]

Supporting a wife and kids will hit you 50k a month minimum so your longevity is about 4-5 years. This is without leaving the country or any major expenses such as vehicles, property, insurances, healthcare etc.

I'd say its impossible without the ability to make an income, otherwise consider it an extended holiday.

[Spitfire]

Yes, it probably isn't enough to cruise it but it is enough to do something, but you'd have to be shrewd. I guess most businesses are done via proxy here for us through the partners name etc and she'd be working as the principle operator.

How about the not so heard of business options like opening a gardening shop/hardware shop/gift store in MV/small guest house/car care center/2nd hand car sales garage and that sort of thing as opposed to the usual restaurant/bar or teaching default stuff?

I can guess that many local shops survive because they own the land and shop so have fewer overheads but was wondering about point of view on slightly more unorthodox solutions.

I mean, surely you should be able to something with US$ 100k (other than piss it away).......shouldn't you?

OK, it might not be a royal paradise but that could come with time if you get it right.

Thanks for the replies so far.

[Korkenzieher]

Well, not opening a bar and not teaching doesn't mean being totally econmically inactive, but I can't see too many things other than those that someone could get into, without investing a considerable part of the cash-pot as start-up money. Is the wife Thai (which would smoothe the wheels of opening a business a bit), if not then I would agree, it is impossible.

With a pension of some kind, it might just be do-able as long as you invest the capital, and only draw to supplement the pension. Otherwise (say age 50), zero chance.

[kendo]

Buksida just beat me to it, how about the things in your own country you take for granted i.e health care ( well UK any way ) schooling, pension.

I have friends than are having to cut back on these very essential things and it's causing problems so would be, back healing your own country for a life in Thailand be the right choice for your family looking at the bigger picture.

Kendo.

[Pleng]

The only way I could possibly see it working out would be if you were to study Thai language to post-grad university level and hope to attract employment in a large multi-national financial or legal institution working in translation.

It's a big risk to take and I have no idea the amount of jobs available for farrang in these corporations.

You'd probably be better off at least getting to graduate level in your home country.before contemplating it.