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#1
01-11-2006, 16:15
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Helpful article
HI all...
I wanted to let everyone know about a free e-book that gives a little overview of living in Thailand. Not sure if the moderators will allow it - but i'm sure they'll just yank this post if they so wish... I wrote a free ebook about living in thailand. It's a long article really - very long. There is nothing to buy at the site and no links to anything else - just sharing it for anyone that want's to read it.  VJ VJ Free e-book: Living in thailand Living in Thailand (Nothing to buy on the site) 
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#2
01-11-2006, 20:51
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hi thaipulse!
thanks for the post. as im planing on my relocation to thailand too next year im sure a very good read. will give some thoughts on it later. cheers,
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#3
02-11-2006, 03:20
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Well I enjoyed the insight VJ and yes, I did read through it all. I like to see differing perspectives and your descriptions of various events are quite vivid.
Your experiences in the classroom bring back a few memories for me. I dabbled in TEFL in South Korea and HCM and it's bloody hard work. You have certainly got under the sometimes very tough skin of certain aspects of Thailand. I'm sure others may disagree...........I don't care! You are doing what you want to do, grasped the metal and gone for it. I hope you find what you seek, you seem well on the way to finding it. Denver
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The idea is to die young.........as late as possible. 
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#4
02-11-2006, 03:34
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Nice read, thanks for taking the time. I know what you mean about the stress of being 'responsible' and successful in the US.
 I started getting gray hair in my late 20's! Glad to hear that you found a nice, quality lady. I really didn't know that you could live on the interest of $100,000 USD. That's only about $400 a month at 5%, provided you don't pay any US taxes. Only about 15,250 baht. Did you mean to say $100K? I hope so, gives me plenty of encouragement. I'm sure that is for a very modest lifestyle, even by Thai standards right? But to get rid of all the stress it may well be worth it. It sounds like you are very content with your decision to leave the US. I wish it was me. Good luck.
__________________
My Thai girl smokes the competition,......... and now it hurts when I pee. 
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#5
02-11-2006, 05:00
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First you need to figure out how much you need (in today's value) and before applicable taxes (which I am sure you will have so somewhere). Generally you can safely invest your money with an average return of 2-4% over inflation. Obviously some years are better than others, some years you actually may lose money and others you can realize 6-8% over inflation (average). If you use 3% as a guide you will need 33 times the expected before-tax withdrawal amount. I have read in a thread a calculation by LiveInLOS that at about the 80,000 baht per month mark you can start to have some fun. Assuming 20% tax on a modest income you will need 100,000 baht per month or 1.2M baht per year or $32,000 per year (withdrawal). Multiply that with 33 and you will need about $1,000,000. If the 80,000 baht per months is too high calculate with another amount, but don't forget things like health insurance, visits to family at home and other high ticked expenses. If you indeed can live on $400 per month it would require $160,000 in cash. I emphasize again that the [x33] calculation is assuming a semi conservative return on investment and that the nest egg should never deplete. As you get older you may consider a depleting nest egg and you may also be eligible for pension/retirement/social security benefits that will help you later.
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#6
02-11-2006, 05:52
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Regarding the last two posts, I think this is why he left the US.
He seems to enjoy his work and makes well above average money by Thai standards, wants to get away from farang, live a traditional life in the provinces and be a novelty there. Worrying about money is what we do best here in the good ole US. He didn't want to anymore. The TanMan
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#7
02-11-2006, 06:05
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Personally, I see a move to Thailand as (someday) putting a halt to my money worries as I could proberbly be happy with 1/3 the nest egg, but I still have to have a sound plan. Now I realize that the last statement put me back to American (of farang) thinking, but some of may not be able to let go 100%.
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#8
02-11-2006, 06:25
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Points well taken, but in this post alone, I see 5 references to money, 3 to worry, and 3 to plan. Hence, my previous post. The TanMan
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#9
02-11-2006, 07:10
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Just for the record.. I say 80k is currently enough to have a LOT of fun living in Patong, Phuket.. You can start to have fun at around 60k I estimate, and thats for here.. Upcountry things are (so I am told, never lived up there) much cheaper and a simple life again is not expensive.. Its the bar life that rapidly sucks cash from your wallet. Secondly if your 'income' is return on investments and savings then you wont need to have it taxed here.
__________________
Men have only 2 emotional states, hungry and horny.. So ladies, if you see me without an erection, make me a sandwich.
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#10
02-11-2006, 07:20
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Unfortunately for US citizens, if you make money anywhere in the world, Uncle Sam still wants his cut. Even if you live outside the USA.
This is probably why offshore accounts are popular. It's nice to know you don't also have to pay Thai tax. The way I understand it, if a US citizen wants to become a citizen of another country, he has to give up his US citizenship and can never get it back. The US government does not allow dual citizenship.
__________________
My Thai girl smokes the competition,......... and now it hurts when I pee.
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#11
02-11-2006, 07:31
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OK sorry, you meant US taxes.. I knew they were like that on income, didnt realize they were like thast on your saved assets.. though thinking about it UK funds tax investment returns but only for those registered as onshore and ordinarily resident.
Not being allowed dual nationality is a bit heavy handed.. My cousin was a comms / sat tech and did a lot of military and civilian defense contracting.. After years of being a foriegner living in the states he finally went and got green carded and claims it was the biggest mistake he ever made, like the mafia once in and he could never get out..
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Men have only 2 emotional states, hungry and horny.. So ladies, if you see me without an erection, make me a sandwich. Last edited by LivinLOS : 02-11-2006 at 07:34.
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#12
02-11-2006, 07:33
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As I said in my first post I am not pretending that I have any knowledge of the actual living expenses in Thailand (I just learned a little more about Phuket). I do know that if you want to plan live of a nest egg you need to give your overall finances some serious thought. This includes occasional trips back to farang-land to visit family or other ventures outside of Thailand, health care, etc. Tan Man reminded me that I think (in this respect) like an America. I realize that and I am not about to stop. Therefore my perspective may somewhat or greatly differ form others. With all the information I have and with as little of a need one may have, I do thing that living off a nest egg of $100,000 in Thailand would be tough, to say it the least.
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#13
02-11-2006, 07:46
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Yeah people often lowball Thai living costs and also dont think through things like visa run costs, visits to family back home, medical costs, etc and as you rightly point out inflation (also as this is a devloping nation playing catch up that inflation and asset appreciation here has the potential to far outpace inflation in developed nations)..
Its also heavily dependant on age and style of living.. If you want to live a quiet retiree lifestyle, go to the beach, do your garden, enjoy the warmth and sunshine you really can do all that cheaply.. If you want to be with ladies of negotiable affection and out till dawn regularly then you will spend a lot..
__________________
Men have only 2 emotional states, hungry and horny.. So ladies, if you see me without an erection, make me a sandwich.
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#14
02-11-2006, 08:01
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I guess I'll be needing minimum 160,000 baht per month then.
 It's a good thing I started collecting recyclable aluminum cans.
__________________
My Thai girl smokes the competition,......... and now it hurts when I pee.
Last edited by Bushdoctor : 03-11-2006 at 05:17.
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#15
02-11-2006, 10:53
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DK, you have factored in inflation which is important to consider but you are turning figures to acheive a reason to not move abroad. It is far more likely that you will get caught out by unexpected or unconsidered expenses than by inflation at 3%. When you live by figures you can make them say what you want to acheive, living in reality, as you age your income requirement lowers, additional income or lump sums come into your life say from inheritances or from pension income, own and state provided.
Inheritances are different for each of us and obviously unknown whens but are real, pension is structured, you know dates and can received projected benefits, if you started to allow for this your 3% drops, what are we considering now as a try to stop me growth rate??? I am not having a go at you, I am hearing in your post the same I heard in my own head when I didn't move to Spain, the same when I didn't take the business opportunity in the States or move to Slovakia, convinced myself with all manner of numbers and possible scenarios, have you done the same for how much you must save to stay living in the states or Denmark??? if not in such detail ask yourself why???
__________________
If I havn't done it already, then i'm gunna do it today.
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#16
02-11-2006, 11:48
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In terms of inflation, I have not factored anything. No one could ever make any such prediction. The 3% is the return on investment that you could realistically realize above the current inflation. If the rate of inflation is 2% I assume that you can get a return of 5%; at 6% you could get 9%. While that is never a guarantee, it is statistically very achievable. If it is far more likely that you will get caught by unexpected or unconsidered expenses then you should make some provisions for that too. My whole argument was based on the fact that someone would have X amount of money in the bank and the draw form that and the proceeds wpuld provide an income for the remainder of ones life, in which case you better account for the unexpected. On the other hand my calculations are based on not depleting the you nest egg, which for most would be an overkill too. Depleting the nest egg in the early years can have a profound effect on the plan, whereas in the later years may have little meaning. When are the later years by the way? You mentioned that income requirement lowers at my age. I THINK NOT, or at least I should say that the requirements for disposable income is not going down. When I stop or slow down on work I will start spending more, at least for some years. As for inheritances, I am on the top of the family tree and unless there is a rich uncle that I don't know about there will be no more to be had in that department. Personally I am expecting Social Security payments from the US government in about 20 years, but I am honestly not counting on much (just to be safe). I am sorry that you did not jump on any of the many opportunities that you had, especially if you now think they could matured to something special. I moved to the US at the age of 23, with $2000 in my pocket and hardly spoke English.
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#17
02-11-2006, 12:15
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Yep tanman - not worrying about money was THE primary motivation for leaving the usa. I lived well there - very well, but the toll in stress to get there and stay there just wasn't something I cared to do anymore...
I know I'm one of those guys that doesn't need much $ to get along here. In Isaan I payed 1500 b for a dorm room for 6 months - no air - during songkran time period and it was hot at night sometimes, but not a biggie. I'm very young (40) cough cough - and I find that for long periods I can go without much at all really. A mat on the floor, rice cooker and an electric range... is about it. I'm thinking that by saving 20,000 baht each month here from this age I'm going to be OK by the time I'm 60. Factoring in interest and the fact that I'll probably never really STOP working - just slow down a lot after 60. I'll still teach some English classes to beautiful young university students just to get me out of bed every other day. 4 Million baht (100k usd) gives over 16000 baht interest each month. Add to that another 10,000 - 20,000 teaching 1-2 classes (3 times/week for 1-1.5 hours each) and I should be fine. I didn't factor in inflation and my intention to keep working to some degree probably wasn't mentioned in the article. add a kid or two to this equation and things change also - but then so would my efforts now to save more. I should have some other income too which should help - but that's not a given. There are so many things that could change between now and 20 years from now that the future is completely up in the air. If one had 100K today and was getting 5% interest you'd be pretty OK if your needs are few. Rent 2500 b elect 500 b water 50 b 5 gallon water in jug (2/week): 20 b food 8000 b (eating at home mostly w/girlfriend cooking as I do) motorbike gas 300b/mth phone cards and internet on my phone 500/mth drinks? smokes? cable? p4p? none of those apply to me - but for others - yep, might factor in quite heavily... Here in Surat at present I'm really living high society! We found a new furnished house to rent with 3 bedrooms, 4 showers, great kitchen, great location, etc, etc. for 7000b/mth. Teaching some, and doing some photography - needed the nicer place. We're spending 500 for elect. on average. 8000 for food, 2000-4000 for misc. and we go to movies sometimes. Eat out sometimes. So, spending under 20,000/mth and we're happy. Anyway - so, everyone is different. I don't think I'm the average guy - most others would have more expenses. glad you enjoyed the read...
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#18
03-11-2006, 03:08
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#19
04-11-2006, 09:32
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Thaipulse,
Thank you for the online book. I agree it was a very good read. I have a couple questions for you. 1. Did you have any experience teaching enlglish before you went to Thailand? 2. Did you actually need your degree certificates? Thank you for the insight on how much you actually live on. I am very close to making the move myself but it's funny that I just can't seem to let go yet. I am 44 and I keep telling myself "just one more year". I know I have enough to live very comfortably on the interest without touching the principle (even in an area like Patong) , but I just can't seem to give up my life (ok, income) here yet. God there is so much that goes into that decision.  But anyway, thanks for the book and the insight. Matt
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#20
04-11-2006, 09:43
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Hi Matt,
Nope, no experience teaching english. I have a master's in arts. I do not have any teaching certificate. You don't really need one. Just a bachelor's degree in anything at all. While I talked about just existing here in Thialand and what it would take I have also at times, worked some extra classes. It's very possible to make 50,000 baht a month here. With expenses for 2 of us at 20,000 b. We can save $500 or more usd per month without a problem. You could do the same by working at a school - they'll pay somewhere around 30,000 b outside BKK. You can have 1-4 extra classes that give you some extra cash. I charge 5000 b for one student for 15 hours. I charge 7000 for 2 students (at same time) for 15 hours and 8000-10000 for 3 or more depending if I want to teach them or not... with groups the dynamics between everyone either works or doesn't - and I charge more if I'm working too hard to get them to contribute to the lesson. If you have enough to leave the usa now - why not? You'll still be making $ here and saving even... try it for 6 months or a year and see what happens. Probably you won't go back... probably you'll be much more relaxed... definitely you'll have experiences you could never have in the usa...
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#21
04-11-2006, 09:46
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Oops, I think i misread... you asked if I needed my degree certificates... yes, to make a copy. You can make a copy yourself and bring the copy. If you don't HAVE one - you can create one in photoshop or some other graphics program and it will suffice. Keep in mind, the degree means virtually nothing - a master's in psychology doesn't give me the skills I need to teach English - but I seem to be doing OK. You will too - with any effort, with or without a college degree.
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