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How many millions of baht does my friend need to retire in Thailand.


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My friend is intending to move to Thailand and not work. He is well off but asked me how much money to live here long term. ie how many millions of baht to retire here permanently. He has visited a fe

With the pollution in bangkok he will not live till 80 so he should be ok

How long is a piece of string?, almost impossible to answer as there are far too many variables. Lifestyle likes dislikes, standard of living, drinker/non drinker and so on etc.   Could be a

1 hour ago, advancebooking said:

He has visited a few times as short term tourist

Then he should have a pretty good idea... swap out an apartment for a hotel and some savings here and there... I think the person will have a better chance of figuring it out on their own, than strangers from TVF... 

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Well there are so many personal factors. 

 

If he has lots of money, a lot of it should still be invested for growth. 

 

Then will he have any pensions, or be eligible for any future pensions such as social security?

 

I would ignore the visa requirement of 65K per month. That's arbitrary. Many people especially if they buy a condo live on much, much less and the visa thing is often satisfied with a bank account in Thailand as opposed to income. 

 

Obviously as you already know, the younger you quit work the bigger the chance a person will eventually run out of money. 

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2 hours ago, advancebooking said:

Essentially I said to him he could easily spend a 100,000 a month in Bangkok living quite well. 

Quite well is a relative concept.  

Just tell your friend how you precisely calculated the 100000.

He will then decide by himself if it is too much, not enough or fair. 

People have different priorities too. 

I have a house, a car, and a pied-à-terre to pay. 

An acquaintance has ca. the same monthly income, he lives in a small room, no car, no motorcycle, he loves to go out and ring the bell. 

He spares a lot of money lately. 

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Ask him how much he pays in rent (or would if he was renting not owning the house he lives in.

Half that amount. Add what he spends a month where he is to that total.

Add a few 1000 bht a month for health insurance costs.

That total will give him a good idea of what Bangkok will cost to live his idea of a comfortable life.

 

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5 hours ago, advancebooking said:

My friend is intending to move to Thailand and not work. He is well off but asked me how much money to live here long term. ie how many millions of baht to retire here permanently. He has visited a few times as short term tourist but never long term

 

I told him he should have budget of 100k a month minimum. If he is aged around 50 and lives to 80 then he might need 36 million

 

Essentially I said to him he could easily spend a 100,000 a month in Bangkok living quite well. 

 

Any thoughts on this. I expect this is the first time this kind of thread has ever been raised

 

 

 

4 Bitcoin should do it!

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In the current climate he will be able to buy a province each month for a 100k and wait for this government to deal with the pandemic and he will get change as well🤔

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20 minutes ago, sidjameson said:

That total will give him a good idea of what Bangkok will cost to live his idea of a comfortable life

 

Bangkok has many areas, cost of live is different in Thonglor than in Bang Na. 

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