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


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3 minutes ago, Huckenfell said:

With that amount of money, go for it. But forget any ideas of business, you will get ripped off.

Leave some of your money in the UK for a"rainy day"   and do not get married.

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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

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II am in a similar boat in that I have a pension fund of £640k. I have had a few jobs, so I have had 5 different pension providers over 25 years. All bar one have achieved a return of 7% over the long term, even with covid and 2008. I believe they have earned the same as my property (5% price gains 2% rent) and I live in a property hotspot. So the return on shares/bonds is excellent. 

 

I would therefore, invest in the shares. You are losing money in the bank due to inflation, whereas shares should rise with inflation. Take no risk, loose money, take risk earn 42k per annum on average.

 

I am not a financial advisor. Just started reseArching it. 

Edited by LeeUklondon
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35 minutes ago, LeeUklondon said:

II am in a similar boat in that I have a pension fund of £640k. I have had a few jobs, so I have had 5 different pension providers over 25 years. All bar one have achieved a return of 7% over the long term, even with covid and 2008. I believe they have earned the same as my property (5% price gains 2% rent) and I live in a property hotspot. So the return on shares/bonds is excellent. 

 

I would therefore, invest in the shares. You are losing money in the bank due to inflation, whereas shares should rise with inflation. Take no risk, loose money, take risk earn 42k per annum on average.

 

I am not a financial advisor. Just started reseArching it. 

The big question is: Will the pention fund survive the next couple of decades? 

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13 minutes ago, Tagged said:

The big question is: Will the pention fund survive the next couple of decades? 

I have idea and I don’t think anyone knows, and I am invested in pensions, not because I am a genius, it is a no brainier to invest in pensions if your employer contributes and that is why I did it. Pure luck.

 

maybe it is herd mentality because interest rates are so low, there is no where else to put it, like buy to let? 

 

Maybe be it is politics as all governments seem to bail out big companies/ stock markets. 

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11 hours ago, Tagged said:

The big question is: Will the pention fund survive the next couple of decades? 

In the UK there are various safeguards in place to protect your pension should your company or pension provider go bust....

 https://www.gov.uk/workplace-pensions/protection-for-your-pension#:~:text=Defined benefit pension schemes&text=You're usually protected by,below the scheme's pension age

 

Protection for your pension

How your pension is protected depends on the type of scheme.

Defined contribution pension schemes

If your employer goes bust

Defined contribution pensions are usually run by pension providers, not employers. You will not lose your pension pot if your employer goes bust.

If your pension provider goes bust

If the pension provider was authorised by the Financial Conduct Authority and cannot pay you, you can get compensation from the Financial Services Compensation Scheme (FSCS).

Trust-based schemes

Some defined contribution schemes are run by a trust appointed by the employer. These are called ‘trust-based schemes’.

You’ll still get your pension if your employer goes out of business. But you might not get as much because the scheme’s running costs will be paid by members’ pension pots instead of the employer.

Defined benefit pension schemes

Your employer is responsible for making sure there’s enough money in a defined benefit pension to pay each member the promised amount.

Your employer cannot touch the money in your pension if they’re in financial trouble.

You’re usually protected by the Pension Protection Fund if your employer goes bust and cannot pay your pension.

The Pension Protection Fund usually pays:

  • 100% compensation if you’ve reached the scheme’s pension age
  • 90% compensation if you’re below the scheme’s pension age
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