Could I Retire in Thailand with 45,000 baht/month?

[Pleng]

I guess a car is convenient for out-of-town travel, but I couldn't personally deal with driving around in Hua Hin as part of my daily routine. I get frustrated sitting in traffic.

[Coldmike]

wow lots of different opinions here.

If you dont play golf and avoid buying bottles of wine then everything else is very cheap including girls.

I have lived in Hua Hin and BKK and the costs are very similar, with the cost of beer being maybe 20-30 baht cheaper in HH.
The cost of girls a lot cheaper in HH, once they know you are potential repeat client.

Hua Hin is tricky for good value long term places,
You can get a guesthouse room on soi 80 for under 9000, this means you dont need transport,
or get a nice townhouse 1-2km out of town for 8-12k, if you like more space+garden.
Budget 10'000 for total rent+bills minimum.

This leaves you 35k = 8.75k per week.

if you drink 5 night out of 7 and have 7 beers per night at 80Baht each = 2800 baht on beer.
3 thai meals per week at 100Baht each and 4 farang meals at 400baht each = 1900 baht on evening meals
Lunchtime meals or snacks = 7x150 baht = 1050 baht on lunches.

Total cost per week on food and beer = 5750 baht.

Leaving 3k spare per week for other things, you could have a university gik if your not too old.

Sound great .....if you're 25 and no margin for error. Snacks after drinking or buying a round when you're happy, forget it. At retirement age, you'll probably get bored and wish for an a/c room, occasional drinks in nice places and maybe buying companions instead of 'university giks'. After all these are supposed to be your golden years, not just 'getting by'.

Personally, I do think I could get by on 45k easily IF you own housing and car or motorcycle. But I hope to have much more ...... Just in case I want to play an occasional round of golf or drink a bottle of wine.

[jumusman]

So things can change I know that but if I retired today I would be getting around 45,000 Thai baht a month. What do you think would that be enough to get by monthly for food and rent and maybe a treat or two? I was looking around at rent in Hua Hin and the cheapest I found was for 5,000 baht a month but is that crazy? I do not need much. A.C would be nice and internet and such just wanted your thoughts. What would you consider average and what would you consider as about right for safe income/pension per month.

Yes.

[malcolminthemiddle]

The OP doesn't say how old he is but let's assume he is 50 and will live to be 80.

Let's also assume that the OP will draw down on his pension pot at the rate of 3% per annum.

This means that the OP needs a pension pot of Baht 18 million or GBP 330K at todays exchange rate to maintain the level of Baht 45,000 per month assuming capital growth over and above 3% is sufficient to neutralise the effect of inflation and also assuming exchange rate fluctuations have a neutral effect in the long term.

The question therefore is not whether the OP can retire on Baht 45,000 per month but whether he would eventually run out of money if he did?

[Korkenzieher]

Too many assumptions - if there is a pension and a pot, then you have a more complicated scenario where draw down is slower and probably lumpier. You can't be a s 'broad brush' as that.

[malcolminthemiddle]

Too many assumptions - if there is a pension and a pot, then you have a more complicated scenario where draw down is slower and probably lumpier. You can't be a s 'broad brush' as that.

You're missing the point.

[Korkenzieher]

Maybe a different point. If the 45k is a pension, rather than savings drawdown, then the lifetime of the pension and revisions to it become operable. It is a reasonable question - but assuming all the income is a savings pot is pretty unrealistic, whatever the point.