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BarrieSawadee

Will I have enough to Live in Udon Thani with this

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Just keep the house in the UK and let a letting agency look after it for you this way they can sort out insurance and any problems that you might have regarding bad tenants etc and remember never spend purchase more in Thailand than you can just walk away from if some major problem arises here in Thailand be it family or medical. Always have an opt out plan for the future.

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I think you had better realistically incorporate your low maintenance beauty taking her share of the house (100%) while seeking maintenace for the child you will probably end up having, into your calculations

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Personally I cannot follow what has been paid for and what hasn't

Land paid for

(Wonder why you do n ot mention what you paid...are you that sure you got a good deal???)***

***That would be a good indicator as to how the rest of your plans might go

Generally, whatever you pay for consider lost

You will have to pay to get half of whatever back

As for 'a rock-solid relationship'......I have heard it too many times...

250,000 baht/year is only 20,000 baht per month.......not much at all....especially if you will have to be paying workers to get things done....

Good luck

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Keep everything in your name....don't sell your UK property and protect what assets you have now....you ain't no spring chicken...prepare for the worst and expect less.....??

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I'm about 10 years ahead of you in that we have been married for that long. I've got a marionette in the UK that has been rented through an excellent agent just outside London near the M1 and M25 for the last 25 years.

If you can get a good agent then don't sell the house.

As to the land you can get an Usufruct that is for life much better than a 30 year lease. There is some debate over the possibility that if it is done after marriage it may be able to be cancelled by a divorce. However if you get it before marriage neither marriage nor divorce makes any difference. But if you do breakup having a legal right to live on the land makes no difference if the local people want you out.

If you want more information you can PM me

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Just remember the land you have bought is probably either in your girl friend's name or buy so called company name. In either way probably you can never sell it again. Whatever you will build has the same fate.

Now it is up to you to sell your house in UK or not. Just imagine your future with the facts.

Anyway 20 000 Baht a month is not a big deal and you have to live probably hand to mouth too.

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If it was me ( which it is not...) i would NOT sell the house in the UK.It is your back up if it all goes " Pete Tong " in Thailand. I am sure your'e Thai lady is very nice but nobody can predict the future...Get your lady to go out and work,it will bring in an income and also give you both some " independence "( the most important word in a healthy relationship ).Your current relationship status might well be compared to a " Gone with the wind " movie at the moment but it's also rather interesting in a relationship that when you possibly hit " financial turbulence " These Thai ladies can disappear faster than a " Paul Daniels magic card trick " .....

Farang Jaidee wai2.gif

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You have far too much $$$.

I suggest that you either -

be a monk

start a poker game

Ready?

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I think you are more than safe if u have a working brain but would NEVER sell Uk property but rent it out. I would also NOT Inform Thai gf/wife about status of global finances. None of her biz. 555, in fact I would skip the whole gf thingy ;)

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no one on this forum know what is going to happen tomorrow. we are in uncharted economic territory.

what will the exchange rate be in thirty years?

policies of your UK government? USA government? China?

What type of government in Thailand?

have you projected forward and factored in inflation?

i used excel to build a spread sheet to project costs forward for 20 years. Look at 2% inflation per year.

don't forget ongoing costs like bank service and transfer fees, immigration fees, drivers license fees, fuel, entertainment or hobbies, your Thai extended family, travel back to UK for family emergencies or holidays, vehicle maintenance, house maintenance, taxes, tools, clothing, shoes, new electronics, internet, cellphone, higher electricity costs, medications, health insurance, dental, divorce and unexpected costs like minor to serious injuries and having all your belongings stolen.

Trying to still save money is also important at 45 years old.

Are you going to have cash in the bank for Thai immigration requirements for 30 years or more?

To plan for 30 to 40 more years is not easy. I am 59 and living in Thailand and the laws are changing so fast here and in the USA.

I fully expect to be told in the future social security will not be paid out if you live abroad. Anything is possible.

Why "buy" property you don't really own when you can rent super cheap Thai style houses all over the country?

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25 years - your likely life expectancy - is much too long to plan with the money you have. Too many variables to consider/control.

And I believe you will find that you will get very bored if you are not engaged in some activity.

You would be much better served if you could find some sort of business you could engage from your residence, even if it made almost no money, but perfect if it made enough for you to live on without having to spend your savings. A simple online business comes to mind.

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Basically, you're talking about retiring at age 45. That is, having no income stream other than the assets you current have and/or own, which is perfectly normal for a retiree.

Let's say you were to retire at age 45 in the UK. How would you decide if you'll have enough funds for the rest of your life? You would make a budget, of course, and see how that relates to your assets and any income you can generate from them. This process should be no different for retiring in Thailand versus retiring in the UK (although some of the line items in your budget might be very different). So basically, you'll end up with a monthly/annual budget, and an assessment of you current assets as well as a projection of your anticipated income derived from your assets.

In developing your budget, the significant line items for living in Thailand (assuming you own your home and vehicles) will be Utilities (electricity, internet, water, cable tv, etc), Telecom (cell phones), Health Insurance (without it, one illness/accident can wipe you out financially), Food/Groceries, Gas/Petrol, Home Furnishings, and Travel & Entertainment (including funding any trips back to the UK). It would also be wise to budget a little something for savings. Also, remember that you need to adjust your budget each year to account for inflation.

Now that you've got your budget - take a look at your assets, and how they can help you meet the demands of your budget. If you can rent out your home in the UK for 250,000 baht/year keep in mind that you'll most likely have to pay for the services of a property manager to look after the property and handle any issues that may come up (typically about 10% of the rental proceeds). You'll also need to consider maintenance costs, and any periods of time in which the property will be vacant. This could reduce the income generated by your home to about 200 - 225k per year, or about 18,000 baht per month. Now look at your savings in the UK - the stock market isn't looking very promising these days for most people, and the interest income from decent bonds, CDs and bank accounts is just about nil. You'll need to work up a projection for the future income stream, so make an assumption as to how much the rent you charge will increase each year, as well as any interest/dividend income you might derive from your savings.

If you don't want to go through the whole projection exercise on your assets, you can take the following shortcut. Assuming you'll never sell the UK house, and it will be left to your wife or family when you die, just use the following formula to calculate how much you can siphon off of your assets to fund your retirement:

(Net Monthly UK Rental Income) + (4% of Savings)/12 = Total Available Monthly Cash

(the 4% is what most experts recommend as an annual maximum to withdraw from their retirement savings starting at normal retirement age, and assuming a normal annual rate of return on the balance)

Finally take your monthly budget and compare to your total available monthly cash (above), and draw your own conclusion.

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Op. My buddy started coming to Thailand in 80s with 10x more money in the bank and several properties in the west. He earned after taxes during his career between 4000-7500 euro per month. He has no kids. Etc. In other words he had very little to worry about. At present he lost several pickups, several houses, millions if thb and several honest caring #wifes# in los. He's 68 now and has still not learned from his mistakes. Lol. So again the most important factor is BRAIN not money...

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I reckon you're too young for a permanent move.. Work hard and save for another five years. You and your GF can make much more in the UK then you ever can in Thailand. Spend all your holidays in Thailand. Put in place all your property improvements (ponds, fences, bores, landscape/fruit trees, driveway, house pad etc).

I've been in Thailand for 18 months, but am 55 and have a pension. I started like you building a new house, buying a car etc. I've always wanted to have a bit of land to rehabilitate, attract wildlife and keep a few exotic pets. Well, that is what I am doing on our 5 Rai near Mahasaraham.

I don't think you have enough money. Another poster mentioned long term costs. I started on a pension of 100,000 Baht per month 18 months ago. Since then the Aussie dollar has gone down 20% against the Baht so I am down to 80,000 Baht. Under Australian law I have to pay tax at a flat 33% if I am living overseas for more than 12 months which has taken me down to 65,000 Baht. Plus part of my pension is dependent on the stock market which is currently down about 10%. So now I get about 58,000 Baht per month. This is only after 18 months. Maybe it will be cheaper to live in Australia after another 18 months, but I have put my savings into Thailand and have nothing left in Australia. Don't sell your UK house just now, keep your options open.

I reckon you need about 60,000 - 80,000 Baht to live comfortably. You can live on much less, but without luxuries. If you don't chase girls, your wife/relatives are undemanding,and you have no rent, so much the better.

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