Retiring In Thailand

Originally Posted by LaDolceVita

This link will give you some idea on the cost of living Ajarn.com cost of living Cost of Living | Help & Guides | Teaching English in Thailand

You can retire with S$1,000 per month in Chiang Mai.

Our CPF Life will give us S$1,000 per month, I think.

So, no need to worry about retirement.

Some more you have your HDB flat and when you sell, you can easily get S$500k at least.

So why worry about retirement? You can even retire now !!!!!!!

LOL !!!!!!

[EC73]

Yes, my wife and I are thinking of retiring to Changmai... We're both in our early 40s... And it's true to live quite comfortably with USD 1,000 per month

Originally Posted by EC73

Yes, my wife and I are thinking of retiring to Changmai... We're both in our early 40s... And it's true to live quite comfortably with USD 1,000 per month

We are in our 50s. We may sell our flat for $600k and plus our cash savings, we will have $1m. This is more than enough for us to retire in Chiang Mai. We can relax and get massages 3x a week.

Originally Posted by EC73

Yes, my wife and I are thinking of retiring to Changmai... We're both in our early 40s... And it's true to live quite comfortably with USD 1,000 per month

How are you going to finance your retirement in Chiang Mai? What's your current net worth and household income?

[EC73]

Originally Posted by Unregistered

How are you going to finance your retirement in Chiang Mai? What's your current net worth and household income?

My humble net worth as below:-

My wife and I cash savings: $300,000
Wife and I investment: $160,000
Both CPF (OA, SA, MS): $500,000
5 Room flat bought at $245,000 in 2003 without gov grant, now worth: $600,000 (fully paid since 2007)
Toyota left 1.5 years of driving duration (fully paid, since 2006)

This net worth is excluding our living policy, medical, term insurances.

Originally Posted by EC73

My humble net worth as below:-

My wife and I cash savings: $300,000
Wife and I investment: $160,000
Both CPF (OA, SA, MS): $500,000
5 Room flat bought at $245,000 in 2003 without gov grant, now worth: $600,000 (fully paid since 2007)
Toyota left 1.5 years of driving duration (fully paid, since 2006)

This net worth is excluding our living policy, medical, term insurances.

In 20 years time, you would have saved more and your investments may also appreciate. Your flat value is uncertain due to the huge oversupply, price will surely fall and then recover a bit. It may be valued at only $700k in 2034. But I think your net worth can reach $2m by the time you retire in 2034. With $2m, you can retire like a rich tycoon in Chiang Mai. Don't forget to invite us to your big mansion there!

Originally Posted by Unregistered

We are in our 50s. We may sell our flat for $600k and plus our cash savings, we will have $1m. This is more than enough for us to retire in Chiang Mai. We can relax and get massages 3x a week.

Do you have a place to stay if things dont work out in CM? My suggestion is to rent out your HDB first and rent a place in CM to see if you like living there full-time. Also, note the burning season in CM and surroundings around Mar-April. It can be as bad as the haze we experienced in SG in 2013. Do have a plan to "escape" when this happens.

This is a good topic. Thank you to those who introduced the idea of retiring in CM. I'm very much excited of the prospect of living in luxury in CM with condo living, restaurant eating, leisure living, massage, etc. I have a flat which is now worth $800k and when I retire in a few years time, we can sell our flat and retire there.

My wife and I owns a 5 room HDB flat now worth S$900k, it is near the city centre. We will be retiring in 5 years time at the age of 55. Our plan could be to sell our flat and retire in Chiang Mai as it is very cheap and we can retire in luxury there. I think we can live in luxury with US$1,000 per month.

Our investment in our HDB flat has paid off many times as we paid very little for the flat many years ago. We thank HDB for the flat. Singaporeans are a lucky bunch of people.

Originally Posted by Unregistered

My wife and I owns a 5 room HDB flat now worth S$900k, it is near the city centre. We will be retiring in 5 years time at the age of 55. Our plan could be to sell our flat and retire in Chiang Mai as it is very cheap and we can retire in luxury there. I think we can live in luxury with US$1,000 per month.

Our investment in our HDB flat has paid off many times as we paid very little for the flat many years ago. We thank HDB for the flat. Singaporeans are a lucky bunch of people.

After you sell your flat at $900k, you can invest in dividend stocks which gives you 5% yield or $45k pa dividends or $3.75k pm. This is more than the $1k pm required to retire comfortably in Chiang Mai. You will be a rich guy there. Enjoy!