How much money is "enough" money?
Re: How much money is "enough" money?
Yep, agreed, which is why I mentioned 'a bit more risk than I would be comfortable with'.
VisionFund offer 11% pa on Riel and 7% on USD$ for 5 years;
http://www.visionfund.com.kh/savings
But, like you said, I wouldn't be happy that I could trust them enough to invest heavily with them.
Another thing a lot of advisors / calculators fail to take into account is I don't want a cent left when I die. No dependants, no estate. So I don't need to live on interest alone, and can draw down some principle as well.
Firecalc (http://www.firecalc.com) shows that I have a +90% chance (based on 140 years historical data) of lasting 30 years with a $500K pot, drawing $20K per year and inflation adjusted at 3% pa.
I'll probably want a bit of a buffer before I finally pull the trigger, maybe $600K. Who knows, tomorrow I might just get fed up and jump.
GeeMan
VisionFund offer 11% pa on Riel and 7% on USD$ for 5 years;
http://www.visionfund.com.kh/savings
But, like you said, I wouldn't be happy that I could trust them enough to invest heavily with them.
Another thing a lot of advisors / calculators fail to take into account is I don't want a cent left when I die. No dependants, no estate. So I don't need to live on interest alone, and can draw down some principle as well.
Firecalc (http://www.firecalc.com) shows that I have a +90% chance (based on 140 years historical data) of lasting 30 years with a $500K pot, drawing $20K per year and inflation adjusted at 3% pa.
I'll probably want a bit of a buffer before I finally pull the trigger, maybe $600K. Who knows, tomorrow I might just get fed up and jump.
GeeMan
Re: How much money is "enough" money?
We have social security in the US also, but that fund has been pillaged by politicians for other uses with no plan (or possibility) to pay that money back. It was always a Ponzi scheme. I wouldn't want to solely rely on government promises for my future welfare. It all has to come crashing down some day.ozzydom wrote:In that case being an Australian has its advantages,we get paid $1500 a month for getting old and living disgracefully.Soi Dog wrote:What if you last beyond age 70, though? Outliving your savings and trying to gain income at that age is can be a tough proposition. Hence, my stupid spreadsheets.Cowshed Cowboy wrote:My own philosophy was 20 years education, 30 years work and 20 years retirement. Anything else is a bonus depending on health. So financially for me that equates to a minimum of 20 * £15,000 = £300,000 in today's terms and for my own personal circumstance.
Re: How much money is "enough" money?
We seem to agree on what we need for our retirement lifestyles, but I plan for 50 more years instead of your 30....just in case.GeeMan wrote:Another thing a lot of advisors / calculators fail to take into account is I don't want a cent left when I die. No dependants, no estate. So I don't need to live on interest alone, and can draw down some principle as well.
Firecalc (http://www.firecalc.com) shows that I have a +90% chance (based on 140 years historical data) of lasting 30 years with a $500K pot, drawing $20K per year and inflation adjusted at 3% pa.
I'll probably want a bit of a buffer before I finally pull the trigger, maybe $600K. Who knows, tomorrow I might just get fed up and jump.
Thanks for that link. It shows my own spreadsheet isn't too far off possibility.
Re: How much money is "enough" money?
Good to know. I need about 15 years money until my UK state pension kicks in. I don't need to leave anyone money either. I'll probably jump this winter.GeeMan wrote:
Firecalc (http://www.firecalc.com) shows that I have a +90% chance (based on 140 years historical data) of lasting 30 years with a $500K pot, drawing $20K per year and inflation adjusted at 3% pa.
GeeMan
Re: How much money is "enough" money?
I am with you on this one. I have about 15 years until the UK pension kicks in. I have already paid in the new requirement. So if the numbers add up...UKJ wrote:Good to know. I need about 15 years money until my UK state pension kicks in. I don't need to leave anyone money either. I'll probably jump this winter.GeeMan wrote:
Firecalc (http://www.firecalc.com) shows that I have a +90% chance (based on 140 years historical data) of lasting 30 years with a $500K pot, drawing $20K per year and inflation adjusted at 3% pa.
GeeMan
I like the idea of a little business out there, keep me out of mischief. Although the afternoons I spent in un-rushed chat with a certain builder of boats, outside The Cavern Bar, PP were some of the best memories of that last visit and those evening 'Sun Downers' at Kandels Bar, with a wide range of really interesting and nice people. One od whom called my yesterday, for a chat, because he is in the UK, I really am to busy atm, but just wanted to jump a train (270km) just to revisit that 'Have a beer' experience.
I can't wait for the flight I book one way !
Remember your Karma helps a Wet Child In Wigan !
Re: How much money is "enough" money?
To arrive st the right figure, You should start with your current budget, top it up with the inevitable extras, then multiply the total by 16 (assuming a 7% return).
For instance , and this is an extremely basic calculation not is probably not quite accurate , my current budget is
Housing costs 600 all in
Transportation 750 (large car + deprecistion over 2,years, no resale value as I suck at maintenance ), parking costs included
"Fun" : 1500(outings , trips within Cambodia , food and gf/wife pocket money)
Let's round it up to 3000/month
Add stuff such as
Traveling abroad 10k!year
Insurance / Medicals. 1500/year
Misc 2500
Thus 50k/year for simplicity's sake
I'd need something like 50k x17 in a bank at 7% to provide enough spending money , thus about 850k
Now the ballpark figure itself is less relevant than the income stream it generates , for instance if you own rental properties with a 50k/year net return in rents then that's your threshold. Not considering the capital gains you're likely to get over the long run.
And if you've got some spare cash to invest, to me old apartments here in the centre are a no brainer. Ignore inflated new properties, go for value investment rather than hyped new places. 40-50 k still gets you a run down 75-80 sq m apartment in a central location. Given the trends in expats influx over the last 2-3,years the existing supply of cheap well located apartments won't last forever. Aim at a 7-12 years range to triple your investment. That's a conservative estimate.
For instance , and this is an extremely basic calculation not is probably not quite accurate , my current budget is
Housing costs 600 all in
Transportation 750 (large car + deprecistion over 2,years, no resale value as I suck at maintenance ), parking costs included
"Fun" : 1500(outings , trips within Cambodia , food and gf/wife pocket money)
Let's round it up to 3000/month
Add stuff such as
Traveling abroad 10k!year
Insurance / Medicals. 1500/year
Misc 2500
Thus 50k/year for simplicity's sake
I'd need something like 50k x17 in a bank at 7% to provide enough spending money , thus about 850k
Now the ballpark figure itself is less relevant than the income stream it generates , for instance if you own rental properties with a 50k/year net return in rents then that's your threshold. Not considering the capital gains you're likely to get over the long run.
And if you've got some spare cash to invest, to me old apartments here in the centre are a no brainer. Ignore inflated new properties, go for value investment rather than hyped new places. 40-50 k still gets you a run down 75-80 sq m apartment in a central location. Given the trends in expats influx over the last 2-3,years the existing supply of cheap well located apartments won't last forever. Aim at a 7-12 years range to triple your investment. That's a conservative estimate.
Re: How much money is "enough" money?
^ where on earth are you getting 7% in this day and age? Deposits in Riels?
Re: How much money is "enough" money?
I do like the cut of your gib, but isn't capital gains exempt ( UK Tax Laws ONLY ), if you buy and sell correctly ( 5 year rule )logos wrote:To arrive st the right figure, You should start with your current budget, top it up with the inevitable extras, then multiply the total by 16 (assuming a 7% return).
For instance , and this is an extremely basic calculation not is probably not quite accurate , my current budget is
Housing costs 600 all in
Transportation 750 (large car + deprecistion over 2,years, no resale value as I suck at maintenance ), parking costs included
"Fun" : 1500(outings , trips within Cambodia , food and gf/wife pocket money)
Let's round it up to 3000/month
Add stuff such as
Traveling abroad 10k!year
Insurance / Medicals. 1500/year
Misc 2500
Thus 50k/year for simplicity's sake
I'd need something like 50k x17 in a bank at 7% to provide enough spending money , thus about 850k
Now the ballpark figure itself is less relevant than the income stream it generates , for instance if you own rental properties with a 50k/year net return in rents then that's your threshold. Not considering the capital gains you're likely to get over the long run.
And if you've got some spare cash to invest, to me old apartments here in the centre are a no brainer. Ignore inflated new properties, go for value investment rather than hyped new places. 40-50 k still gets you a run down 75-80 sq m apartment in a central location. Given the trends in expats influx over the last 2-3,years the existing supply of cheap well located apartments won't last forever. Aim at a 7-12 years range to triple your investment. That's a conservative estimate.
Terms and conditions may apply, your investment may rise or fall. Cold beers can get warm with time...
Remember your Karma helps a Wet Child In Wigan !
- phuketrichard
- Expatriate
- Posts: 16875
- Joined: Wed May 14, 2014 5:17 pm
- Reputation: 5781
- Location: Atlantis
Re: How much money is "enough" money?
i have been living on around $35,000 for past 10 years an 12,000 of that goes to my daughters schooling ( past 2 years in the us was cheaper than international here). past 4 years with gf with us
And i have found as i age more i spend less so figure if i have $20,000/year for 20 more years i am good.
And i have found as i age more i spend less so figure if i have $20,000/year for 20 more years i am good.
In a nation run by swine, all pigs are upward-mobile and the rest of us are fucked until we can put our acts together: not necessarily to win, but mainly to keep from losing completely. HST
Re: How much money is "enough" money?
Much better with private money lenders. I think it works out to 20% per year ($6,000=$100./mo 1,200/yr) and paid monthly too.Soi Dog wrote:^ where on earth are you getting 7% in this day and age? Deposits in Riels?
"i'm the one who has to die, when it's time for me to die, so let me live my life the way i want to"
jimi hendrix
jimi hendrix
-
- Similar Topics
- Replies
- Views
- Last post
-
- 3 Replies
- 2331 Views
-
Last post by John Bingham
-
- 9 Replies
- 5191 Views
-
Last post by armchairlawyer
-
- 9 Replies
- 2219 Views
-
Last post by Alex
-
- 4 Replies
- 2643 Views
-
Last post by crob
-
- 5 Replies
- 2050 Views
-
Last post by Pseudonomdeplume
-
- 1 Replies
- 548 Views
-
Last post by AndyKK
Who is online
Users browsing this forum: angsta, Big Daikon, Chuck Borris, lurcio, Moe, ron100, Semrush [Bot] and 632 guests