Pension Statement

[bratpack 91]

I think monthly and 50-60k seems sufficient for, as you say, a frugal life.

Just the sunshine and warmth may suffice for some.

But I question whether in 5-10 years time, it still will be enough. Whatever income a retiree has, needs to keep up with inflation.

 

 

Jacko,read my post again,didnt think you were blind mate.At 65 i am getting about 15,000gbp per year on top of my present earnings,maybe more with inflation.My life aint frugal,i have never been so happy and extremly happy i am not in Suburbia no more with those middle class wankstains

Edited March 29, 2010 by bratpack

[buriramboy 0]

That's always the problem with these type of threads, some people presume that everyone is a barfly and monger and that is their sole purpose for wanting to live in Thailand, no i have no doubt that that is the criteria for some people but not for most, when i lived in Bangkok and Pattaya there were only a couple of guys i knew (expats) who i would describe as hardcore mongers, now i'm not claiming that most people were faithful to their partners and didn't have a bunk up when the mood took them as they did but it wasn't a major part in anyones life (with a couple of exceptions) that i knew. And also in the main it had nothing to do with money, you live in Pattaya everything is on your doorstep, you are not on a 2 week holiday where you have to cram in as much pussy as you can in that time frame, you know it's there to take or leave anytime you want it so there is no pressure on you placed by time constraints to shag yourself stupid, hence you will spend a lot less money than if you were a tourist which is what i think some people base their calculations on when it comes to working out how much they need to live on in Thailand.

[bratpack 91]

That's always the problem with these type of threads, some people presume that everyone is a barfly and monger and that is their sole purpose for wanting to live in Thailand, no i have no doubt that that is the criteria for some people but not for most, when i lived in Bangkok and Pattaya there were only a couple of guys i knew (expats) who i would describe as hardcore mongers, now i'm not claiming that most people were faithful to their partners and didn't have a bunk up when the mood took them as they did but it wasn't a major part in anyones life (with a couple of exceptions) that i knew. And also in the main it had nothing to do with money, you live in Pattaya everything is on your doorstep, you are not on a 2 week holiday where you have to cram in as much pussy as you can in that time frame, you know it's there to take or leave anytime you want it so there is no pressure on you placed by time constraints to shag yourself stupid, hence you will spend a lot less money than if you were a tourist which is what i think some people base their calculations on when it comes to working out how much they need to live on in Thailand.

 

Very true BB

 

Anyway if somebody cant see that then i wont lose my temper,he can invent what he wants.You seem to see the life much better than some

[Sailfast 503]

Actually, it's interesting and helpful to see several points of view.

[CheshireTom 1,377]

Very true BB

 

Anyway if somebody cant see that then i wont lose my temper,he can invent what he wants.You seem to see the life much better than some

 

It seems to be an oft-repeated fallacy that if you don't live in Pattaya or BKK you're out in the "boonies" scraping a living together by "living like a Thai", whatever that means.

Edited March 29, 2010 by CheshireTom

[buriramboy 0]

It seems to be an oft-repeated fallacy that if you don't live in Pattaya or BKK you're out in the "boonies" scraping a living together by "living like a Thai", whatever that means.

More of an issue seems to be that people are judged on their quality of life by how much alcohol and how many ho's they consume per month, so basically if you don't drink and ain't into banging ho's you must be having a miserable time in Thailand, but if you're banging a different ho and getting smashed out your head everynight, that seems to be classed as the ultimate standard of living in some peoples eyes, the mind boggles at times, it really does.

[CheshireTom 1,377]

More of an issue seems to be that people are judged on their quality of life by how much alcohol and how many ho's they consume per month, so basically if you don't drink and ain't into banging ho's you must be having a miserable time in Thailand, but if you're banging a different ho and getting smashed out your head everynight, that seems to be classed as the ultimate standard of living in some peoples eyes, the mind boggles at times, it really does.

 

It would be interesting if someone could actually put a figure on how much you need per month for overpriced drinks and so-called ladydrinks to lead the "good life" in Pattaya. Someone must have some idea of what the additional costs are to live in Pattaya as compared to the rest of the country.

[sinbinjack 251]

I think monthly and 50-60k seems sufficient for, as you say, a frugal life.

Just the sunshine and warmth may suffice for some.

But I question whether in 5-10 years time, it still will be enough. Whatever income a retiree has, needs to keep up with inflation.

I don't know what the future will bring as far as inflation is concerned, and to be honest as a working man with a job I used to do quite well out of inflation as I had no savings but the price of my house shot through the roof,but I think the guy had savings as well as a pension.He could always save his lump sum in long term ISAs (4.5 - 5%over 4 - 5years)and that would help to defray any reasonable inflation.or he may even have an inflation linked pension ,I know many do.

But to give my real opinion I would give it a go if thats what he wants ,be careful not to spend up everything and always give himself a back door home if things go wrong,just like I would no matter where I was to retire.

I should also admit that over the last few days I have decided not to go on holiday(to Pattaya) this year due to the falling pound and some unexpected costs I have to pay at home,(new shower and Boiler)so I am failing to follow my own advice but the holiday money needs to be spent a little more wisely this year.

[Big_Brian 179]

At retirement I will have the same money whether I live in the UK or Thailand. It will go further in Thailand and life will be more pleasant as well. The idea of a retirement in the UK on limited income scares the shit out of me.

[bratpack 91]

It would be interesting if someone could actually put a figure on how much you need per month for overpriced drinks and so-called ladydrinks to lead the "good life" in Pattaya. Someone must have some idea of what the additional costs are to live in Pattaya as compared to the rest of the country.

 

 

The way Torrevona(sp) talks he would be the guy who wastes money like water,but he is good at estimating how many million baht a year we all need to have a small existance here.

eg

 

My mate lives in Bangkok and Buriram,great guy,pleasant,courtious,no troubles or problems

he spends at least 2,000 baht a night on expensive drinks/lady drinks etc,in the space of 2 hours,so thats 60,000 a month approx.35,000 baht a month condo,and he spends about 2/3 of the month in there.

 

Are you listening torrevona

 

he is a ballon chaser,fucking hilarious when he pretends he is skint

 

that guy has a budget of 200,000 baht a month,and his life is no better then mine,he is 42 and retired,and not a wannabee like some.

[jacko 8,814]

Jacko,read my post again,didnt think you were blind mate.At 65 i am getting about 15,000gbp per year on top of my present earnings,maybe more with inflation.My life aint frugal,i have never been so happy and extremly happy i am not in Suburbia no more with those middle class wankstains

I read so many posts that exact details might be overlooked.

How old are you? I estimated 56 so in 9 years you get a further £15k p.a. Whoopee....

That could be an extra 10,000 baht/ week by then.. An LD will be 250 baht and a bottle in Tony's about the same.

 

If you are happy that is good. Whatever others say is irrelevant.

But Torrenova's post said what I meant....

Okay, perhaps I can withdraw frugal, and say 'economical', or not being a spendthrift.

I think I spend approximately 60k/month now, but that excludes my big ticket items, insurances, flight tickets, house jobs and purchases. I would say I live a frugal life, relative to some who brag of 5k bar bills. I don't think I ever had a bar bill over 4k to pay, and would be pretty much flattened by a restaurant bill of about that......

Good luck mate.....

Edited March 31, 2010 by jacko

[bratpack 91]

I read so many posts that exact details might be overlooked.

How old are you? I estimated 56 so in 9 years you get a further £15k p.a. Whoopee....

That could be an extra 10,000 baht/ week by then.. An LD will be 250 baht and a bottle in Tony's about the same.

 

If you are happy that is good. Whatever others say is irrelevant.

But Torrenova's post said what I meant....

Okay, perhaps I can withdraw frugal, and say 'economical', or not being a spendthrift.

I think I spend approximately 60k/month now, but that excludes my big ticket items, insurances, flight tickets, house jobs and purchases. I would say I live a frugal life, relative to some who brag of 5k bar bills. I don't think I ever had a bar bill over 4k to pay, and would be pretty much flattened by a restaurant bill of about that......

Good luck mate.....

 

Jacko

nearly right mate 58,next month,been retired since 50.

Maybe i should call it living within my means,but still better than working in uk,even though i earned over 42,000 gbp per year gross.5k bar bills are crazy,i cannot drink that much and why should i buy loads of lady drinks.If i needed to get a couple of million baht thats not a problem,and the extra 15,000 gbp will allow me to save more.

Anyway i understand what you mean and i am far from being a ballon chaser lol.

[Owen` 2]

I missed this thread when it was more active. My only comment is to caution guys to greatly de-emphasize their personal experience with regard to inflation and more or less almost anything else. This is not the world we all grew up in and I think the odds are very poor that it will ever return to what it was.

 

If the future is to be devastated by scarce oil, then there will be no economic growth anywhere in the world -- and oddly, despite the scarcity of oil, probably not much inflation. If that is what unfolds, then the focus should be on safety because crime will be rampant from the hundreds of thousands who can't find work.

 

If money printing means a future filled with inflation, we have different problems to solve.

 

My overall point is neither scenario looks anything like our lives to date. It's very hard to reach our ages and then face a need to reject all those years as experience of no value, but that's my read.

Edited April 8, 2010 by Owen`

[jonny_two_combs 3]

I think iam missing somthing here

 

how do you get 13k tottal p.a from 71k in the pot ?

 

annuity returns are around 6%

[torrenova 644]

The way Torrevona(sp) talks he would be the guy who wastes money like water,but he is good at estimating how many million baht a year we all need to have a small existance here.

eg

 

My mate lives in Bangkok and Buriram,great guy,pleasant,courtious,no troubles or problems

he spends at least 2,000 baht a night on expensive drinks/lady drinks etc,in the space of 2 hours,so thats 60,000 a month approx.35,000 baht a month condo,and he spends about 2/3 of the month in there.

 

Are you listening torrevona

 

he is a ballon chaser,fucking hilarious when he pretends he is skint

 

that guy has a budget of 200,000 baht a month,and his life is no better then mine,he is 42 and retired,and not a wannabee like some.

 

So your mate has a couple of million a year ? so what ? Hardly Rockefeller is he ?

 

A life balloon chasing on the one hand, lying to people to gain favour, whilst actually having some money in the bank, would appear to qualify him for the next vacancy up Soi 14. At least his friends will be able to chip in if his marriage fund or jolly boys outing to AC costs get the better of him.

 

The main point is that 200k at age 42 might seem to you at age 58 like a king's ransom but it isn't. At age 42 you could reasonably expect to live for another 40 years or more. Unless your hero's 200k is inflation linked in some way, he'll be well fooked in 2050 when after 40 years of inflation (assumed 7%) his 200k a month is actually worth about Bt13,356 a month (200,000/(1+7%)^40) in today's money.

 

On the other hand, a lady drink (currently Bt120) will cost Bt1800, a current Bt700 barfine will be over Bt10,000 and a muppet paying a current Bt2500 LT now will have to fork out around Bt37500 in 2050 for the pleasure !

[harro1 256]

Torrenova I appreciate your posts and hope negative feedback doesn't stop you from giving your views. I plan for the worst and hope for the best. Cheers for your insight.

[sinbinjack 251]

So your mate has a couple of million a year ? so what ? Hardly Rockefeller is he ?

 

A life balloon chasing on the one hand, lying to people to gain favour, whilst actually having some money in the bank, would appear to qualify him for the next vacancy up Soi 14. At least his friends will be able to chip in if his marriage fund or jolly boys outing to AC costs get the better of him.

 

The main point is that 200k at age 42 might seem to you at age 58 like a king's ransom but it isn't. At age 42 you could reasonably expect to live for another 40 years or more. Unless your hero's 200k is inflation linked in some way, he'll be well fooked in 2050 when after 40 years of inflation (assumed 7%) his 200k a month is actually worth about Bt13,356 a month (200,000/(1+7%)^40) in today's money.

 

On the other hand, a lady drink (currently Bt120) will cost Bt1800, a current Bt700 barfine will be over Bt10,000 and a muppet paying a current Bt2500 LT now will have to fork out around Bt37500 in 2050 for the pleasure !

And the point of this post is?

I know that inflation is a pernicious problem for people on a fixed income ,but If your imaginary man does live for 40 years then no matter where he lives he will still have the same income and inflation.The point surely is that with that income he would still be better of now in LOS and as he would need less than if he lived in the UK or USA then he would be able to save some of his (to you)small income and invest it to offset the inflation ,he would still be better of in LOS than if he lived in either UK or USA.

As I said before you should not assume that what you spend to live in LOS, is what others need to spend to live in LOS because that is just not true.From your point of view your costs are X so everyone else must spend this to have a decent lifestyle,wrong 100%.Everyone lives their lives in differing ways and not all of that difference is down to money but a lot of it is ,What is really different is the fact that some (like me ) have never had a large income so are expecting less in any case,that is just a fact of life.Speak in large amounts and large numbers of people will only switch of as you sound like a stupid politician who know nothing of real life and how it is lived by "normal" people,people like my mother who died aged 73 and left the grand sum of £12000 as her life savings ,she actually thought of herself as better off than most of her family as she had no "DEBTS". Now I am not as badly off as her but I have no notion of the amounts of money that you seem to think of as "necessary"and whilst I do not think of myself as better of than most of my family I do feel that no one in my extended family has the sort of money that you seem to think is normal and I only personally know 2 or maybe 3 guys who could raise that sort of money and I have a great many friends and acquaintances.

So whilst I might agree that your figures are right ,as far as they go,I don't think you have any real knowledge of the real world and how "normal" people manage to live in it.

[Gary 4,119]

I totally burned out on the bars and nightlife of Pattaya and Bangkok. I now live upcountry and am quite content. I could VERY easily live on 35,000 baht a month and give up nothing. Do I have to live on 35,000 baht per month? That answer is no. I'm not wealthy by any means but I do have a healthy surplus. I would NOT be happy if I had to live on a budget or have to worry about the exchange rate.

[jeffo999 0]

Hello,

 

Just discovered the Expat issues thanks to MM.

 

I have been asking myself these same questions for the last 6 years or so. Now have turned 50 and am still questioning whether moving is a good idea. I spend about 4-5 months a year in Thailand already, usually on 70k baht a month. I will have no health insurance in the USA, so much cheaper alternative to be in Thailand. I think I could tap out pension at 65k a month today (baht 31/$) plus significant savings for settling into my new life, plus social security (haha) at 62. While watching the $ drop and never seeing it regain except for small periods of time so I have held off on the big move. Also, it seems like pension plans are getting a little to much notice these days, nothing in life is guaranteed except for the obvious.

 

Where I live the housing prices are almost comparable to say, the darkside. I used to think Thailand was maybe 1/4 the cost of living in the USA but now is getting much closer, minus the ladies of course. I think planning on the dollar at least to go back to the 25 range, with the GBP and Euro lowering also to the baht.

 

So....I would not make the move on less than 70k guaranteed in a month no matter where I live in Thailand. even If I lived in Buriram or wherever (speaking of which my buddy got a house in Buriram province for 500 baht a month, nice place too, like 17 baht a day but has ghosts so Thai's will not live there). I would spend more traveling than I would if I had a place east of the Suk. Anyways....keep on saving at 1% interest.

Edited April 21, 2010 by jeffo999