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  1. #151
    Thailand Expat jabir's Avatar
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    Quote Originally Posted by MickLondon View Post
    I plan to retire in Thailand in 2 years with 65k THB.
    Borderline, assuming that's your monthlies and not life savings, but if the drops another baht you won't be able to meet visa requirements.

  2. #152
    I'm in Jail

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    Still trying to figure out the dieing part of the equation. Hell, I figure I should have been retired by now. But I keep getting up..



    fish

  3. #153
    The Fool on the Hill bowie's Avatar
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    Quote Originally Posted by fishlocker View Post
    Still trying to figure out the dieing part of the equation. Hell, I figure I should have been retired by now. But I keep getting up..
    Well FFS Stop Getting Up - problem solved - simple Innit

  4. #154
    The Fool on the Hill bowie's Avatar
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    Retire? How much do you need per month?

    Anyway - why not bump the thread - always interesting "How long is a piece of string?" query. But, I'll change it a bit.

    Your Situation? How much do you spend per month?

    Situation: American Husband, Thai Wife, retirees, own home in Nonthaburi - transferring USD $2,500/mo. to Thailand. Spending about $2k/month. Exempt from calc (annual expenditure of USD $5k for a USD $1M expat medical insurance policy covering the both of us).

    Moo Baan Fee $50
    Electricity $100
    Water $10
    TV & Internet $100
    House Insurance $50
    Car insurance $60
    Transport & Auto $50
    Food $750
    Miscellaneous $750
    Legal $60
    TOTAL/MONTH $1,980

    How 'bout yourself?
    Last edited by bowie; 29-08-2019 at 12:17 PM. Reason: dress

  5. #155
    Thailand Expat
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    ...Legal=USD60 monthly? why?...

  6. #156
    Hangin' Around cyrille's Avatar
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    Quote Originally Posted by bowie View Post
    Last edited by bowie; Today at 12:17 PM. Reason: dress
    Did you put that in miscellaneous?

    Good to have a hobby, I guess.

  7. #157
    Thailand Expat
    aging one's Avatar
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    Bowie, where is your health and perhaps life insurance. These are my two biggest costs.

  8. #158
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    So it looks like nearly 900kUSD would cover a decent retirement? That's a fairly large amount of cash to save over a lifetime. Can't see it happening tbh, I should be more worried about it than I am

  9. #159
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    Quote Originally Posted by Switch View Post
    f you have worked for that many years, you could find it a bit of a shock to the system to stop and retire. You are used to being busy, your partner is used to you being out all day 5 days a week.
    Not as easy as it seems in reality..
    It took me about 30 seconds to "adjust" to retirement. Never looked back and have enjoyed the ride since.

  10. #160
    Member Bettyboo's Avatar
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    The problem is medical, unexpected costs and how long you live.

    Just very hard to cost that out, imho...

  11. #161
    Thailand Expat
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    I seriously need to start putting money into a pension scheme after this latest bout of studying. Would love to retire at 55, but that ain't gonna be happening.

  12. #162
    The Fool on the Hill bowie's Avatar
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    Quote Originally Posted by tomcat View Post
    Legal=USD60 monthly? why?...
    Elder Law Firm watching over my mother in the USA (peace-of-mind)

  13. #163
    The Fool on the Hill bowie's Avatar
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    Quote Originally Posted by cyrille View Post
    Good to have a hobby, I guess.
    hell yes, need a hobby, retiree, gotta keep myself occupied

  14. #164
    The Fool on the Hill bowie's Avatar
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    Quote Originally Posted by aging one View Post
    health and perhaps life insurance. These are my two biggest costs.
    Life insurance, whole life, universal life and term life plans (both of us) $1.5k/annum for @ 125k in coverage for both.

    Health insurance, Cigna Expat Silver $5k/annum, has $5k deductible, USD $1M maximum per illness, covers both of us.

    Both health and life I pay from the accounts in the USA and did not include in my Thai budget. But $6.5k/12 = adds about $550/mo so, my actual spending is on the order of $2,500/mo or about USD $30k/annum

    Complexity of taxation = USA married couple deduction is $24.4k this year so, withdrawals from my IRA are $36k - $24k = my taxable income'll be on the order of $12k at 10% My (our) tax bill will be about $1,200 this year.

    Could tap into my Roths, but, not yet. When I start with my Soc Sec distributions I'll set up my IRA distributions Regular and roth to provide a zero tax bill.

  15. #165
    The Fool on the Hill bowie's Avatar
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    Quote Originally Posted by Mandaloopy View Post
    900kUSD would cover a decent retirement?
    Everything depends on ROI. I have my "nest egg" in a managed investment portfolio with a major brokerage firm. They're charging 1.25% to manage my investments. Roth and traditional IRA's in @ 15 varied mutual funds. They are "historically" returning @ 10% per annum.

    The 10% return is then diluted by their 1.25% fee and whatever the tax burden is. All in all I'm getting more than a positive 5% which more than covers what we are spending.

    Long range - we are in very good shape and can handle what life throws at us. Big decision is when will the cost or our health insurance justify switching to "self-funded"? It'll happen eventually. Within a decade for certain.
    Last edited by bowie; 29-08-2019 at 09:20 PM.

  16. #166
    The Fool on the Hill bowie's Avatar
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    Quote Originally Posted by Mandaloopy View Post
    nearly 900kUSD would cover a decent retirement?
    To amplify @ 5% ROI spending use $30k = $600k

    Now that's a Gross Generalization. For myself and wife. In a few years we'll be tapping our USA social security retirement benefits - at that point in time we may well not have to take any distributions from or accumulated "nest egg". We will see.

  17. #167
    The Fool on the Hill bowie's Avatar
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    Quote Originally Posted by cisco999 View Post
    It took me about 30 seconds to "adjust" to retirement. Never looked back and have enjoyed the ride since.
    Yup, living the life and loving it...

  18. #168
    The Fool on the Hill bowie's Avatar
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    Quote Originally Posted by Bettyboo View Post
    Just very hard to cost that out, imho...
    Crystal Ball - for myself and my wife. I would like to think we will both just forget to wakeup one day.

    If either gets a cancer - when does, or is, chemo justifed - had a friend with a bladder cancer - had a most horrible time with chemo over the course of a year, said he would refuse it is cancer reappeared. Wife says "no way", just let me die. Myself - well, my bucket list is empty, I'd like to think I would take the same attitude, but, unless you are in those shoes, you cannot answer the question.

    I have no responsibilities - so, I am allowed to die without "grossly" impacting others. No one will be worse off when I kick the bucket. But, those deep philosophical questions - I can't answer.

  19. #169
    The Fool on the Hill bowie's Avatar
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    Quote Originally Posted by Mandaloopy View Post
    putting money into a pension scheme
    Yup, a difficult task to start, easy once you have started.

  20. #170
    CCBW JPPR2's Avatar
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    Quote Originally Posted by Bettyboo View Post
    The problem is medical, unexpected costs and how long you live.

    Just very hard to cost that out, imho...
    You can't and shouldn't. People get all wrapped around the axle on med costs and insurance, especially Americans. They have been brow beat with a constant fear about it. The people then tend to be gripped by it. Now I think its prudent to have some reserves set aside but to have it be a deal breaker for places you want to live or just retire is a sad state. I know quite a few that will not retire because they do not want to be without a company med insurance.

  21. #171
    Thailand Expat
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    Quote Originally Posted by bowie View Post
    a difficult task to start, easy once you have started
    ...not so difficult to start (at least, not in the US)...and watching one's nest egg grow over the years towards a pre-determined financial goal allows for many restful nights...

  22. #172
    CCBW JPPR2's Avatar
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    @ Bowie. Your numbers are about the same as ours except our food bill is about $300 and Misc is probably $1000. That's primarily for garden and property upgrades and my motorcycle hobby.

  23. #173
    CCBW JPPR2's Avatar
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    Quote Originally Posted by tomcat View Post
    ...not so difficult to start (at least, not in the US)...and watching one's nest egg grow over the years towards a pre-determined financial goal allows for many restful nights...
    I was able to retire because of my 401k return over the years.

  24. #174
    Thailand Expat
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    ...I was able to retire because tax-free sand dollars were deposited into a tax-free (before withdrawals) retirement account: now, I edit PhD dissertations, master's theses and sundry other documents to pass the time...as well as contribute scintillating restaurant reviews to a local forum...

  25. #175
    Days Work Done! Norton's Avatar
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    Quote Originally Posted by tomcat View Post
    as well as contribute scintillating restaurant reviews to a local forum...
    Big bucks doing it, I heard.

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