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Do I have enough money?

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11 hours ago, lopburi3 said:

Only one has to meet retirement financials - the legal spouse can stay as dependent. 

That's definitely good to know. I have a good bit of time to prepare, and things may very well change in the coming months. I haven't obtained a disability rating yet, so I'm being extremely conservative with my numbers. Depending on that, we may not even have to worry if both need 65,000 a month. 

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On 2/25/2018 at 7:43 PM, Mook1e said:

I'm 43 and still 5 to 7 years from retiring for good with my wife. We're still deciding between Malaysia, Thailand, and a few other locations. I currently will be retiring from my first career with a 3000usd/month pension. I hope to have 50k usd saved in 7 years and then we'll move. Will that be enough for 2 people for retirement visas and living expenses in Hua Hin?

So you worked for presumably 20 years or so, and do not have 50k USD saved?  Now your pension will be what, 1/2 of what your salary was, or 1/3?  Ask your self this, right now, if your pay was but in 1/2 could would you have a positive cash flow?   The bottom line is, a good rule of thumb is to check that you could live as do now, on 1/2 or less pay.  Many people think they will spend so much less in retirement than when they were working, but they often grossly mis calculate and under estimate what they really need.  You don't seem to have any investments or passive income, so I suspect you live up to your means, meaning you spent all of your pay every month and saved very little.  That is not necessarily horrible if one will get a 36,000 a year pension.  But right now, could you live on that?  If you don't pass that test, then your retirement would be a measly one, living in a small cramped place.  And we are not even talking about proper medical.

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Posted (edited)
25 minutes ago, gk10002000 said:

So you worked for presumably 20 years or so, and do not have 50k USD saved?  Now your pension will be what, 1/2 of what your salary was, or 1/3?  Ask your self this, right now, if your pay was but in 1/2 could would you have a positive cash flow?   The bottom line is, a good rule of thumb is to check that you could live as do now, on 1/2 or less pay.  Many people think they will spend so much less in retirement than when they were working, but they often grossly mis calculate and under estimate what they really need.  You don't seem to have any investments or passive income, so I suspect you live up to your means, meaning you spent all of your pay every month and saved very little.  That is not necessarily horrible if one will get a 36,000 a year pension.  But right now, could you live on that?  If you don't pass that test, then your retirement would be a measly one, living in a small cramped place.  And we are not even talking about proper medical.

No, I have investments including stocks, tsp (401k), and my home will be paid off by the time I will retire. I live below my means each month in order to invest and save. I don't have a savings account with cash, though. That will be where I hope to have 50k for emergencies. Also, my retirement will be 2/3 my pay and I'll be working making over double my current salary between now and my actual retirement. I don't include those assets in my calculations, as they won't be touched until I'm at least 62.

Edited by Mook1e
Wasnt finished
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The medical care question is also interesting. US military and retirees get tricare overseas which is quite comprehensive. It's one of the highlights of military benefits.

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BANGKOK 22 July 2018 03:53
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