Passive income recommendations to allow one to retire in Thailand?

[fishlocker]

If you jump up, just fore an instant.,well shit it's all behind you now .

[OhOh]

One advantage of renting a house in your home country is you could go back there should something unforeseen happen.

Try getting a reluctant tenant to move out, legally.

Plus, we only run one car ATM, two is what we'd like, one is what we need.

And allegedly, by the new car manufacturers, used only 4% of its available time. That figure is for the main family vehicle. What a "collectors" car is used for is probably a 1,000 times less.

Taxes, what taxes?
Yes, you pay it but it is depreciable.
Utilities,yes its all by by.

Check with your accountant but as far as I know property taxes utilities Insurance Etc are all a write off.

On an annual basis or over a government determined time scale? Capital gains tax, personal tax, loss of other potential investment schemes. One can try and hide due taxes but whilst ever one has assets in a country they can be seized if determined by a court.

Ok,
So the best advise is:
Work you're ass off.
Get a pension.
Live for a few breaths and die.

Is there another way out?

Invest your disposable income wisely, over time and reject demands for immediate personal indulgent. How often should one purchase, from already taxed income, a personal vehicle replacement? Because of peer pressure, because one has received a windfall or because a car salesman shows the the financial benefit of a new car purchase?

Start your, own plan/children's security plan, off with a small sum, add to it religiously before any other lifestyle choices. At a certain age pass the responsibility to the child, to add further or cash it in. As we know adulthood arrives at different times for many, some are still awaiting that era of "taking responsibility". You may not match world renowned investment gurus alleged gains but you also reduce the risk of the investment of going "splutter, splutter, bang" overnight.

There are three types of living costs of which you decide as an individual;

1. Necessary - shelter, food, clothing. Zero risk, impossible to live without.

2. Optional - future investments to produce income at a time of your choosing, not time limited. These can be accessed, in part of fully, at times of your own decision. Medium risk.

3. Play money - Personal indulgences, or time fixed investment - only accessible at agreed intervals determined upon initial agreement. Higher risk - will that "drink for the road" really bring pleasure to you and others, will that tasty tart really indulge your fantasies tonight and not leave an embarrassing trail on your medical, financial or social standing?

[Begbie]

The pension plan works if you spend your life slaving for the same employer, don’t get laid off and they don’t go bust. Personal saving is hit and miss and timing.

[OhOh]

A "pension" or planned financial savings/investments can be constructed to include many things. If you narrow the definition to government mandated, company contracted, or a selected commercial, fixed timed determined, "pension" you can be correct. It depends on the contract. Government promises can be varied in time - age of availability, amount determination method, and eligibility - residency requirements etc.

Others can be constructed to your own wishes and responsibilities. Some here have suggested buying rental accommodation. Whisky futures or physically stored barrels, precious objects, digital tokens, electronic profit generating machines, etc. All have risks for you to consider and weigh against possible returns. Not salesman's "J curve graphs" based on historical and potentially biased or manipulated data.

Do your own due diligence and take personal responsibility.

[Jack meoff]

Good post mr Oh

[David48atTD]

If that can't make the TD quotes, what will?

Mate, you can self post if you like. I'm was just the OP for that thread

Senses of humour differ ... don't let it be defined by me alone.

Go for it.

[Dead Metal]

I invested, lost it. As they say it can go up or it can go down. Shit happens , got over it now, but it ruined my plans.
Surprisingly they did send me a cheque explaining that they felt I had been badly advised and what to do if I still felt aggrieved.
It was a percentage of the original amount, I accepted and banked the cheque.

[james1995]

there are *ways* if you don't have any morals. #easiest idea...u take out huge amount of in unsecured loans in your home country and buy several condo units to rent out. your choice if you want to repay the loans(wink wink). credit cards are drained via atm withdrawals and gold purchases. you need to have real good credit score to do this. 5-10 million baht invested should give you a nice income stream. enough to retire on.

[Luigi]

Aka Doing a Lulu.

[fishlocker]

I'm thinking of selling my old property appraisal books.
The math still is relevant, not that I'm counting on that.

I'm thinking more of a pizza shuttle.

Well, an electrified pizza shuttle to be precise.

Hey, just joking.

But now is when the pythons and cobras are looking for high ground.

Like buying a hurricane damage boat.

But then again you really can't buy land.
Or time.

Fish

[Jack meoff]

^ just stick to double barreled shots into lame stags at 10 foot away Cooter.

[david44]

Seldom see a pimp on a bike

[cyrille]

5-10 million baht invested should give you a nice income stream. enough to retire on.

Rent from a 5-10 million baht condo alone is enough to retire on?

Either your numbers are from 1995 or you live on fried rice in your wife's place.

[TizMe]

Rent from a 5-10 million baht condo alone is enough to retire on?

Either your numbers are from 1995 or you live on fried rice in your wife's place.

I'd think 8% return would be maximum. 400K-800K per year would be enough for some people..... not me though....

[fiddler]

Bought a fixer upper house when i was young and worked on it every night for 3 1/2 years and sold it for 3 times as much.
Took the profit and bought a better one in a better neighborhood.
Got a roomate.
I travelled the world while he paid off my mortgage. (worked seasonal jobs half the year and travelled the other half)
Once it was paid off, I rented it out to a family for bigger bucks and moved to Thailand.
Then built an apt above my garage.
Rented that out too.
Now, my wife and I bought a house here in Thailand and rent that out too.
Life is good.

[cyrille]

I'd think 8% return would be maximum. 400K-800K per year would be enough for some people..... not me though....

30K+ a month on a place that cost just 5 million seems unlikely in Thailand.

Not impossible, but unlikely.

And remember, james is maintaining that can be retired on, so you're covering your own accommodation too.

So...let's go with the ten million place instead, and that would take some hunting, bargaining and doing up nicely to get you about 5-6%.

50K a month and you're living...umm...OK.

[headhunter]

for them thinking of retirering to thailand ONCE known as a cheap place to live,had better do some homework before taking the plunge.
yes if you can live on RICE,NOODLES,SOM TAM and chicken,pork and their offal you could just about make it.
it is easy to lose the value of ? me being a brit.oops a taff.just think about what you like to eat.
baked beans 2.50 gbpounds.
spam 340grm. 6gbp.a tin.
hp sauce 2.80 gbp.220ml.
angus ausi.beef steak 46gbp.kilo 21gbp.-LB.
fish I am going to try 14.50gbp.kilo.6.60LB.
potatoes 50p.a LB.imported from china.
bacon and good sausages 6gbp.kilo.
bisto gravy,oxo cubes,mustard,around the same 2-3gbp.
instant coffee nescafe about 7gbp.200grms.
so if you have to rent a place,there is more than likely you will have to pay a community charge,water bill,electric is at least double to what it is at home [uk]
unless you plan to live alone,having a local partner comes out at the top.
headhunter HAPPY TO LIVE HERE.

[PAG]

^

Have to dispute your comparisons. For utilities, I have a reasonably large house with lots of electrics, though only use air con in our bedroom at night. Average monthly electric bill is circa 50 pounds equivalent, which as the average ambient temperature remains constant throughout the year means it's cheap. Bottled gas consumption cost is fairly minimal, to the point of being unable to put a cost on it. Water, again we use quite a lot, and average monthly bill is circa 8 pounds. Big thing of course is that there are no property rates here in Thailand, which in the UK would be a minimum of 100 pounds a month. We pay around 8 pounds a month for my mobile phone which has excellent 4G coverage, and X amount of free calls etc.

Big cost item in the UK is vehicle fuel, which here is less than half the cost.

You're mentioning food items, though the freshest of fruit and vegetables are available here at a fraction of the cost, as well as proteins such as good quality pork and chicken.

Imported food will naturally be more expensive, though if you live near an international inhabited area with the resultant specialist shops, you can get reasonably priced products. Some examples:

Large tin of Heinz beans, 75 baht.



Some cheeses, various.



T bone steak, about 6-7 pounds



Pork chop, around 1.50 pounds



Duck breast, about 1.80 pounds



Good piece of cod loin, abut 3 pounds



Australian striploin, again about 3 pounds



Cumberland sausages, around 3 pounds a half kilo



Daddies sauce, 400g, 3 pounds



You get my drift. You also need to get real time with western prices also. I haven't been in the UK for the past 3 years, and was shocked by how expensive things were.

[fishlocker]

[headhunter]

these i got today from tesco uk.
baked beans 2 for 1.30 pounds.
spam 2.00pound.
hp.brown sauce 450grm.2.15 pounds.
so where do you do your shopping PAG.the exchange rate pounds to bht.is about 42.so for an example 2tins of baked beans come to,eq.55bht.spam 84bht.
I don't know what I have done to you,but it seems you DONT LIKE ME.
when you asked on TD.has anyone whose dog had been having nose bleeds,and I replied yes for 3yrs.and I can give you all what he experienced.
you threw it all back in my face,saying you would rather trust a vet rather than an anonymous poster on the net.
taff a true and honest person.

[bowie]

Money - deep subject, many layers to this onion. I could write pages but am not inclined to.

Thailand is a cheap place to live. But, how much it will cost you to live in Thailand is entirely based on the lifestyle you maintain. Or in better wording, the "Standard-of-Living" you require. It doesn't matter how much money you have, what matters is how much money you have in comparison to how much money others have, that is what determines the Standard of Living you can afford. Businesses need customers so their prices will reflect what their customers can afford. The USA and Europe folk have a lot more money than the Thai folk, so, the prices are considerably higher. Broad brush strokes here, itemized comparisons do differ.

You can live quite cheaply in Thailand if you can live like a Thai, handle money like they do, eat like they do, travel like they do, sleep like they do, spend money like they do... if you can, in fact, do this, well more power to you, I can't.

Bought a house, @ THB 8-9M when all was said and done. I have legal control via a Usufruct for 30 years with 30 years renewal, so I'll die here. Annual cost is on the order of USD $35k, including everything. The only flexible thing not included is "Travel". Spent a couple of years traveling around Thailand, during those years USD $90k was more the norm (partial years with time in the USA and Thailand). Travel is expensive. Our typical USA Standard-of-Living cost us USD $60k.

So, for comparative purposes, for me and my wife, as homeowners, maintaining the same or similar Standard-of-Living these are our numbers: Northeast USA USD $60k/annum, Nonthaburi Thailand USD $35k/annum. These numbers do not include travel expenses, but include everything else.

[Neverna]

baked beans 2.50 gbpounds.

I bought some yesterday: 31 baht a can (~75p).

potatoes 50p.a LB.imported from china.

You think that's expensive?

[headhunter]

Money - deep subject, many layers to this onion. I could write pages but am not inclined to.

Thailand is a cheap place to live. But, how much it will cost you to live in Thailand is entirely based on the lifestyle you maintain. Or in better wording, the "Standard-of-Living" you require. It doesn't matter how much money you have, what matters is how much money you have in comparison to how much money others have, that is what determines the Standard of Living you can afford. Businesses need customers so their prices will reflect what their customers can afford. The USA and Europe folk have a lot more money than the Thai folk, so, the prices are considerably higher. Broad brush strokes here, itemized comparisons do differ.

You can live quite cheaply in Thailand if you can live like a Thai, handle money like they do, eat like they do, travel like they do, sleep like they do, spend money like they do... if you can, in fact, do this, well more power to you, I can't.

Bought a house, @ THB 8-9M when all was said and done. I have legal control via a Usufruct for 30 years with 30 years renewal, so I'll die here. Annual cost is on the order of USD $35k, including everything. The only flexible thing not included is "Travel". Spent a couple of years traveling around Thailand, during those years USD $90k was more the norm (partial years with time in the USA and Thailand). Travel is expensive. Our typical USA Standard-of-Living cost us USD $60k.

So, for comparative purposes, for me and my wife, as homeowners, maintaining the same or similar Standard-of-Living these are our numbers: Northeast USA USD $60k/annum, Nonthaburi Thailand USD $35k/annum. These numbers do not include travel expenses, but include everything else.

I have to agree with everything you say,i can go back as far as1983 when things were a lot different then,mostly you had a job to get any farang food.our apartment in bkk.wasnt that expensive and we lived well.me & wife moved back to the uk.spent 20yrs.there and moved here full stock and barrel.
house here 6m.bht.no debts.live as best we can,if there is anything we want,its there for the taking.but this last yr.or 2 I found I have lost the value of bht.against the pound.our budget is 500k.bht.a yr.eat well,only a drink now and then,and that's limited.so all in all we live quite well.my only concern is that the wife looks after herself when I go to the temple.

[fishlocker]

https://www.youtube.com/watch?v=YmPwYhHX_jY

[fishlocker]

Honestlly I've never livedin Bangkock though can only imagine it is less of an evil than other parts of the planet in terms of life cost.