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Do I have enough money to live in Thailand, and how to do it


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Come to Thailand. Soon you will meet other people who will tell you about those great business opportunities. Like invest 500k and a year later you will have a million. That's the usual way for new gu

I live here in a nice 3 bedroom house with a younger Thai woman and 2 Thai kids. Costs me around 12kgbp/year, 600k would last me 50 years. 40,000bht/month.   If you had the will po

Over my garden wall earlier this week ....... not exactly Jungle. On the other side of the house is 7-11/Mini BigC/swimming pool, within about 200m. I'm 12Km from the moat in Chiang Mai, 1KM

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Here is what I would do. Get a makeover. If not already in shape, get a work out program sorted. Invest in some self help programs..better your life, how to communicate, learn about love, those sort of things. 

Take 6 months and start dating locals.

 

42 is too young to waste here in Thailand. By making yourself a more attractive person you will attract likewise. Living out your life with a loving partner in the UK, US, Canada, or wherever would be preferential to the possibility of 40 years here in Thailand. Buying young pussy is still just that. Buying. Finding a loving spouse is much more rewarding.

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4 hours ago, gordog said:

Thanks for the responses.

 

As I mentioned in some posts. I have an elite visa currently, speak Thai (I have lived here sporadically since a teenager) and know the culture as well as a foreigner can. I just don't have any knowledge of business or investing.

 

Reading the responses it seems I need to do something with the 600k to create income. Given I don't know anything about investing, would the best option be to use a service or 3rd party, like this Vanguard that everyone talks about? As I don't think i'd be knowledgeable enough to pick investments myself.

 

 


Do some reading. As your a Brit I’d recommend Money Week. They offer fairly decent advice. Investors Chronicle is another decent publication. For someone with no interest in the markets a tracker fund would be ideal. Go for a well established fund manager, with a solid reputation. Avoid active funds (where the manager picks the stocks) as these can sometimes go wrong. A recent example being a fund operated by the celebrated fund manager Neil Woodford. It went badly wrong and investors lost a chunk of their money. So before you do anything read as widely as possible. 
 

Vanguard is a well respected fund manager, and over a long time a market tracking fund should do better than most stock pickers (active managers). Bear in mind there will be periods when the market dips, but over a long period it’s trajectory is upwards.

 

I personally believe this is the safest and easiest way of generating an income whilst growing your capital. Property generates rent but it only takes one bad tenant to screw that up, and it can be an asset that takes time to sell. Even if you buy in the UK you will still need people to manage it. 
 

The final advice is to avoid drains on your income. You don’t sound like someone who’ll fall into a party lifestyle or start funding a Thai family, or get conned into buying someone property in Issan. So I suspect you don’t need advice here, as you won’t fall into these traps.

 

What you are proposing is doable, as long as you plan sensibly. Good luck.

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29 minutes ago, rct99q said:

Here is what I would do. Get a makeover. If not already in shape, get a work out program sorted. Invest in some self help programs..better your life, how to communicate, learn about love, those sort of things. 

Take 6 months and start dating locals.

 

42 is too young to waste here in Thailand. By making yourself a more attractive person you will attract likewise. Living out your life with a loving partner in the UK, US, Canada, or wherever would be preferential to the possibility of 40 years here in Thailand. Buying young pussy is still just that. Buying. Finding a loving spouse is much more rewarding.

Is this what you did?

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12 hours ago, DDBKK said:

Easily enough. 

 

400K into a UK property will yield some nice monthly income to live off whilst always ensuring you have that safety net to return to and have a foot in the UK property market. 

 

I'd be tempted to buy a condo somewhere along the new BTS line in BKK also and either rent it out or live in which could be the base in Thailand or just rent something nice but cheap in any other location. 

 

Another 50K GBP on some higher risk investments and pay attention to how well they perform and play the markets somewhat. 

 

Another 50K in slush fund for travel etc but try not to touch it and live purely off the yield from UK property. 

 

Sorted.

 

Sounds like a plan.

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19 hours ago, nauseus said:

 

Yes. It can certainly keep one on one's toes. 

It was a joke ,i have been married so long i trust her and our son with my life ,which they have really looked after recently through an illness

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On 1/13/2021 at 8:05 AM, BritManToo said:

I live here in a nice 3 bedroom house with a younger Thai woman and 2 Thai kids.

Costs me around 12kgbp/year, 600k would last me 50 years.

40,000bht/month.

 

If you had the will power not to spend/spend/spend, you could do the same.

Or the foolish urge too invest or speculate (I always lost money doing that)

You might also want a party lifestyle, which would cost you a lot more.

Yes. I would say that would work. But you have to live a very quiet life, in or near a small village well away from the bright light money pits...and if you want a relationship, find a trustworthy Thai lady who doesn't gamble or take drugs. Those habits would destroy your savings, your relationship or both. Some Thai ladies can be very persistent about money, gold, gifts to the point of driving you crazy.

Factor in transport and rent or the cost of buying. Health insurance too. Plus visa and annual extension financial requirements and cost.

At 42 I doubt that you really want a very quiet life for so long. At 69 it's just about acceptable for me. 9 years ago it wasn't!

 

Good luck!!

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Go for it! Ignore naysayers and failures. YOU CAN NEVER RETIRE TOO EARLY! Have a great time and if necessary pick up work later along the way.

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13 minutes ago, Bangkok Barry said:

Why Thailand? There are many places in Europe that are very cheap to live in - I know a Dutchman who has bought a nice property in Hungary, for example. Infrastructure is often better in Europe, many food prices are cheaper, as is alcohol if you fancy a bottle of wine or two. More people speak English to a reasonable standard and I'd venture might be more trustworthy than many Thais who routinely bend the truth to suit themselves. I personally would choose Spain in a heartbeat if I didn't have family now in Thailand.

The OP SPECIFICALLY ASKED NOT for your kind of response.

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7 hours ago, ivor bigun said:

It was a joke ,i have been married so long i trust her and our son with my life ,which they have really looked after recently through an illness

 

Yes, I was joking too.

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