Thread: If you had $150k and wanted to...

I doubt $150k is enough to live off.

Originally Posted by DaveP

If you were 50 yrs old, had $150k in a balance portfolio of no load/no fee mutual funds, and wanted to move/stay in LOS (teach some, etc.)...

Would you

- try to move the $ to offshore accounts?which ones?
- buy a condo here?
- siphon off a little at a time?
- something else?

Thx,
DP

At the age of fifty, you will easily outlive $150,000 USD, assuming you will withdraw an amout (e.g. $1,000 per month/[BKK?) from the Principle. Even you are getting 3-7% above the U.S. inflation rate from the diminishing principle you will statistically outlive the money. (You did note teaching on the side). That would greatly help.

If you, or someone is 50 years old, and you haven't done your own research about the various financial and tax options, you or whoever, needs to do so right away.

Feel free to add more details about your lifestyle, any possible real-estate, length of time you want to stay in LOS, future pension (if any) or any other info.

A lot of folks think about this and exchange ideas as they age. Heck, I'd love to spend my latter time in LOS with a cushion under me. (I'm not acting upon that very well right now however. )

Thread Title:

If you had $150k and wanted to...
...stay in LOS, what would you do?

Work and don't spend any of it, unless you have a medical condition that will lower your life expectancy.

There's this bird named "Nok" down Soi Cowboy that can help you plan it all out. Down to the last cent.

DaveP, perhaps you could spend $100 or even $200 for a good planning session (one or two visits), but I don't think you have the balance of US$ that merits paying regular fees to a professional financial advisor. Also, unless you're making 40K baht per month teaching, I can't see that you can retire on that small a sum, without a pension.

Sorry. But, you might find a fund, a no-load mutual fund, that invests in the areas you want, and that doesn't require active management. Good luck.

Dave....a year in the dunes can put $20,000-25,000 into your bank account, depending on the job you take and your personal spending habits. Stay 5 years and collect a nice 5 month bonus (many Saudi places offer this). Whether or not you can "handle" the Middle East is up to you. There's no easy way around this problem. Unless you have other sources of income, or a life of easy-going poverty is appealing to you, you will have to consider going to high-salary country in order to live comfortably in your later years.

I'm in a similar situation, I am 50 years old and thinking about moving to LOS to teach. But I have $150K cash (balanced mutual fund), and $300K IRA as backup. US pension will kick in at age 62. I feel that I can live comfortably on 50K baht in LOS. Plan to draw on savings for a while at about that rate, explore the country a bit, then find a teaching job (hopefully making 30-40K). Presentable, MS degree, TEFL, all that stuff. My money will stay invested in US dollar mutual funds. Earning local money will offset some of the risk if the dollar falls relative to the baht.

I strongly disagree with poster that indicated you can draw $1K per month from a $150K account indefinitely. The rule of thumb is generally that you can draw 4% of the balance indefinitely, which in that case is more on the order of $500 per month. In my case, at retirement, I feel I can draw $1K per month which is 4% of the current $300K balance.