This is a brilliant idea.
In Chiang Mai, you can live very well with S$1k pm. So your S$1m can last for many, many years. However, instead of just spending the S$1m, you may want to invest in blue chip stocks which can give you 4% pa or S$40k pa. Since you may just spend S$12k pa in Chiang Mai, you can even save the rest.
Wishing you and wife the best. You both deserve the good rest after working so long and so hard. Don't be a fool to wait so long to retire.
Quote:
Originally Posted by Unregistered
My wife and I have been working for more than 25 years and we are getting really tired. Luckily we still manage to have holiday breaks. When we go for our holidays, we always study whether the places we visited are location where we can retire.
We finally decided that Chiang Mai in Thailand would be a good place where we can retire very comfortably - eating in local restaurants every other day, relaxing and can afford to employ a maid and a driver.
How is this possible? Here is how.
Our 5 room HDB flat is now worth S$700k and plus our cash savings we can have S$1m in CASH after selling our HDB flat. We will then convert the S$1m to get 25m Thai Baht !!!! That is a lot of money to retire on in Chiang Mai.
We hope to retire in a couple of years time when we hit 55.
Our investment in our HDB flat is our best investment ever !!!!!!!! |