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  1. #1
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    How much money is needed to retire

    I'm going with 1 million quid in a 5% ROI account. Should provide for old age nicely. Guess as a teacher this is but a pipe dream 555

    How much cash do y'all think is needed?

  2. #2
    Thailand Expat

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    Retire where bro?

    1 million NZ dollars hardly buys a house in Auckland these days...

    I would think closer to 10 million would be more realistic (for an expensive country like NZ) 1 million might suffice in Asia.

    Where do you get 5% on your savings mate?

  3. #3
    Thailand Expat VocalNeal's Avatar
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    That would be sufficient for me, assuming all children are educated and the house is paid for. 5% might be optimistic 4% more like it.

  4. #4
    disturbance in the Turnip baldrick's Avatar
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    ha baht

  5. #5
    Being chased by sloths DJ Pat's Avatar
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    Just keep the dole payments going into your bank from UK

    Who needs a lump sum?

  6. #6
    I am in Jail

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    Quote Originally Posted by baldrick
    ha baht

  7. #7
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    @ 5%, that's around 1000 quid a week, 42,000 baht. More than enough in Thailand, and if you already own a house, comfortable enough in NZ.

    You'd have to pay tax on that interest.

    Remember, too, that you can't take it with you, so 1,000,000 would also give you 1000 a week for 20 years, without interest....but with a modest (and more realistic and safer) interest rate of 2%, you can live very comfortably in SE Asia, and can always dig in to the principle the older you get. You're not going to live to 100, are you?

  8. #8
    Thailand Expat Pragmatic's Avatar
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    Quote Originally Posted by Maanaam
    with a modest (and more realistic and safer) interest rate of 2%
    You can get 6% in the Teachers Cooperative bank in Buriram.

  9. #9
    Thailand Expat VocalNeal's Avatar
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    Quote Originally Posted by Maanaam
    Remember, too, that you can't take it with you
    But if you received that money as an inheritance then it is really not one's own money and should be handed on to the next generation. A philosophy which wealthy people use and why there is a growing gap between...

  10. #10
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    Double the amount you imagine, inflation although low now always creeps.
    Imagine living today on the pension, price level of 2 decades ago.

    The other question is your health costs and future expenses, e.g taxes, visas and thinsg you cannot control.

    I'd be surprised if future Thai regimes of any hue do not increase fuel,tobacco ,alchol,land and house taxes esp for fo those inhabited foreigners.

    We are in an era of extremely cheap energy by historic standards fuel,flights and delivery costs of food will rise
    I used to have a job at a calendar factory.
    I got the sack because
    I took a couple of days off.

  11. #11
    Philippine Expat Davis Knowlton's Avatar
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    Quote Originally Posted by Pregomeister View Post
    I'm going with 1 million quid in a 5% ROI account. Should provide for old age nicely. Guess as a teacher this is but a pipe dream 555

    How much cash do y'all think is needed?
    It's an impossible question on which to comment given that you have provided no information.

  12. #12
    Ex TD Fat Club VP Dillinger's Avatar
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    Dont you have any maths teacher mates?

  13. #13
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    Quote Originally Posted by VocalNeal View Post
    Quote Originally Posted by Maanaam
    Remember, too, that you can't take it with you
    But if you received that money as an inheritance then it is really not one's own money and should be handed on to the next generation. A philosophy which wealthy people use and why there is a growing gap between...
    Good point.
    My stance was made with the assumption that the kids are already looked after, if you have any.
    Point of interest...what if you made the money yourself? Is that moral obligation still there? And what if, as any sensible and moderately lucky person would do, increased that inherited wealth?


    You bring up a point that I have pondered before. I put to you that the gap is getting wider because: You need money to make money, and the wealthy already have it. Couple that with longer life expectancy, and you have the Gen Xer's being retired before they get any inheritance, meaning their kids, the Gen Y's, don't get a good start to their lives...and the circle gets worse.

    The major flaw in the "can't take it with you" scenario is the impossibility of predicting your own life span. Get it wrong and you spend your last few years as a pauper. But that flaw can be countered by being conservative, and less so as the years drag by.

  14. #14
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    Quote Originally Posted by Pragmatic View Post
    Quote Originally Posted by Maanaam
    with a modest (and more realistic and safer) interest rate of 2%
    You can get 6% in the Teachers Cooperative bank in Buriram.
    I did say "safer", lol. Would you put your life savings into a Thai co-op?

    Anyway, aren't there caveats on those deposits? On being able to deposit?

  15. #15
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    The difference is in what you plan to do in retirement. A rocking chair at a yard sale can be had for about 45usd, add a pair of wings and the cost skyrockets.

    If one can invest early and often in some dividend paying stocks he may be able to live off the dividends alone later in life without ever touching the principal. That's my plan anyway, I'm about half way to making that a reality. I figure 50 to 60k after taxes is a resonable goal.

  16. #16
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    Quote Originally Posted by Maanaam
    impossibility of predicting your own life span
    Savings to be made by 'floating around amongst the turds of Pattaya"
    a combo of drink drugs, crimis, drunk drivers , scamming locals , mafias and the balcony hazard " can mean that 500 baht for as long as live can be arranged.

    If it were not for the pies life would be meaningless, I'm sourcing a non pieholder insurance as we fart

  17. #17
    Thailand Expat cyrille's Avatar
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    Quote Originally Posted by Maanaam View Post
    Would you put your life savings into a Thai co-op?
    I don't think anyone would advocate putting one's life savings in any one single place, but perceptions of where is 'safe' and 'unsafe' seem to me to be changing quite rapidly.

    Or at least they should be.

  18. #18
    Can I still change this?
    Bogon's Avatar
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    I've decided I want to die poor, so I have started getting used to it now rather than later.

  19. #19
    Philippine Expat Davis Knowlton's Avatar
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    Pensions rule.

    In addition, I also get Social Security checks for me and my twins until they turn 18. When I croak, wife keeps getting 60% of my pension for life. She also can start getting part of my SS when she hits 60. Also included is comprehensive health insurance for life for me and spouse, and for the kids until age 26.

    I retired at 51. To date, they've already paid out about a million USD. May they pay much more.........for many more years.....

  20. #20
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    fishlocker's Avatar
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    Take payment of less than 36k usd per year and pay no tax on dividends. That's about 3100 usd per month or about 109k Thai baht. I feel that is a resonable amout if your asking for my personal goal. It all depends on the lifestyle one lives.


    Your welcome davis. Wish you and yours all the best. Youve paid in you should enjoy taking out. SS is kind of a ponzi scheme. And the politicians treat it as a grab bag. I don't count on it later in life, its not part of the plan, it's a nice thought if I live long enough to collect. May be nothing left by then.
    Last edited by fishlocker; 27-10-2016 at 02:20 PM.

  21. #21
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    Well done Davis. To borrow from another member since I have no greens to give...I salute your wisdom instituted a long time ago.

  22. #22
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    I know a guy I'll call Master Chief. Did his time and now gets to double dip so to speak as he is still employed. He loves this shit or something (working) probably doesn't really need the money but hey he has a nice place up north, a big out building to park the RV, atvs,sleds and all the other stuff one thinks one needs to retire with. All about lifestyle I guess. As George Carlin once said it's what you will do for ten dollars, what you will do with ten dollars.

  23. #23
    Philippine Expat Davis Knowlton's Avatar
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    Quote Originally Posted by fishlocker View Post

    Youve paid in you should enjoy taking out. SS is kind of a ponzi scheme. And the politicians treat it as a grab bag. I don't count on it later in life, its not part of the plan, it's a nice thought if I live long enough to collect. May be nothing left by then.
    SS was never a part of my plan. In fact, I never expected to draw SS at all due to my USG pension. The monthly total (self and twins) is only about $500 in any case. Basically an unexpected small bonus.

  24. #24
    Head Skivvie Stacker Storekeeper's Avatar
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    Quote Originally Posted by Pregomeister
    How much cash do y'all think is needed?
    In the states cash isn't really needed. Just write a check ...
    Last edited by Storekeeper; 27-10-2016 at 02:50 PM.

  25. #25
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    ^ Do people still use cheques?

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