Study claims you will spend $389,000 for 14 years of retirement in Cambodia

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General Mackevili
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Re: Study claims you will spend $389,000 for 14 years of retirement in Cambodia

Post by General Mackevili »

Doc67 wrote: ↑Thu Mar 04, 2021 9:21 am $389,000 /14 = 27,785 / 12 = $2315 per month.

Sounds about right...
I just did that same math, and I'd say MOST retirees could cut that in almost half easily, so I'd say $200,000 is probably fair for most. Stay away from 104/110/130/136 and $200,000 would be more than enough. Stay away from deathpat street 172 and you might accidentally live too long.
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Doc67
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Re: Study claims you will spend $389,000 for 14 years of retirement in Cambodia

Post by Doc67 »

General Mackevili wrote: ↑Thu Mar 04, 2021 9:32 am
Doc67 wrote: ↑Thu Mar 04, 2021 9:21 am $389,000 /14 = 27,785 / 12 = $2315 per month.

Sounds about right...
I just did that same math, and I'd say MOST retirees could cut that in almost half easily, so I'd say $200,000 is probably fair for most. Stay away from 104/110/130/136 and $200,000 would be more than enough. Stay away from deathpat street 172 and you might accidentally live too long.
I think a recent poll, probably KFH's handywork, revealed the average spending by expats was around the $2000 a month mark.

And another thing, if you're on pension it doesn't matter how long you live. If you have a $400k lump sum then Prasac will give you $2200 a month interest (after tax) so there is your monthly spending with capital preserved (although depleted by inflation).

Whether you could manage to keep a $400k balance in the bank for 14 years without getting fleeced by someone, is quite another matter.
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Re: Study claims you will spend $389,000 for 14 years of retirement in Cambodia

Post by Cameron_Newbe »

I'm pretty frugal, but spend about $14k a year, so $200k in 14 would be easy without living a particularly high life, and not counting medical expenses etc.
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Bitte_Kein_Lexus
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Re: Study claims you will spend $389,000 for 14 years of retirement in Cambodia

Post by Bitte_Kein_Lexus »

General Mackevili wrote:
Doc67 wrote: ↑Thu Mar 04, 2021 9:21 am $389,000 /14 = 27,785 / 12 = $2315 per month.

Sounds about right...
I just did that same math, and I'd say MOST retirees could cut that in almost half easily, so I'd say $200,000 is probably fair for most. Stay away from 104/110/130/136 and $200,000 would be more than enough. Stay away from deathpat street 172 and you might accidentally live too long.
Keep in mind dental/medical costs for retirees, travel plans and so forth. Most don't want to live in a hovel either, plus inflation over 14 years needs to be taken into account. That $2300 in ten years will likely be equivalent to like $1300 now.
Ex Bitteeinbit/LexusSchmexus
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lagrange
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Re: Study claims you will spend $389,000 for 14 years of retirement in Cambodia

Post by lagrange »

Bitte_Kein_Lexus wrote: ↑Thu Mar 04, 2021 10:54 am
General Mackevili wrote:
Doc67 wrote: ↑Thu Mar 04, 2021 9:21 am $389,000 /14 = 27,785 / 12 = $2315 per month.

Sounds about right...
I just did that same math, and I'd say MOST retirees could cut that in almost half easily, so I'd say $200,000 is probably fair for most. Stay away from 104/110/130/136 and $200,000 would be more than enough. Stay away from deathpat street 172 and you might accidentally live too long.
Keep in mind dental/medical costs for retirees, travel plans and so forth. Most don't want to live in a hovel either, plus inflation over 14 years needs to be taken into account. That $2300 in ten years will likely be equivalent to like $1300 now.
Which should still work out ok for those of us on inflation adjusted pensions, and anyway, living here will always be more affordable (and provide a better quality of life) than in Manchester or Sydney or Auckland.
" Tried being reasonable. Didn't like it" (Clint Eastwood)
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Re: Study claims you will spend $389,000 for 14 years of retirement in Cambodia

Post by sigmoid »

Live for today, humans.

Be here now.

:goodluck:
_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
I may be going to hell in a bucket,
but at least I'm enjoying the ride.
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atst
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Re: Study claims you will spend $389,000 for 14 years of retirement in Cambodia

Post by atst »

sigmoid wrote: ↑Thu Mar 04, 2021 12:56 pm Live for today, humans.

Be here now.

:goodluck:
That's all good until you wake up tomorrow and find you blew all your money living yesterday, now what?
I'm standing up, so I must be straight.
What's a poor man do when the blues keep following him around.(Smoking Dynamite)
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theKid
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Re: Study claims you will spend $389,000 for 14 years of retirement in Cambodia

Post by theKid »

atst wrote: ↑Thu Mar 04, 2021 1:15 pm
sigmoid wrote: ↑Thu Mar 04, 2021 12:56 pm Live for today, humans.

Be here now.

:goodluck:
That's all good until you wake up tomorrow and find you blew all your money living yesterday, now what?
Find the nearest ATM?
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Arget
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Re: Study claims you will spend $389,000 for 14 years of retirement in Cambodia

Post by Arget »

General Mackevili wrote: ↑Thu Mar 04, 2021 9:32 am
Doc67 wrote: ↑Thu Mar 04, 2021 9:21 am $389,000 /14 = 27,785 / 12 = $2315 per month.

Sounds about right...
I just did that same math, and I'd say MOST retirees could cut that in almost half easily, so I'd say $200,000 is probably fair for most. Stay away from 104/110/130/136 and $200,000 would be more than enough. Stay away from deathpat street 172 and you might accidentally live too long.
Guess I am Fuc#$d. I frequent the streets of shame and I live on death street.

AND I have lasted for half the 14 years so who knows when my name is in CEO lights? :hattip: :hattip: :hattip:
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Josh_76
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Re: Study claims you will spend $389,000 for 14 years of retirement in Cambodia

Post by Josh_76 »

Doc67 wrote: ↑Thu Mar 04, 2021 9:46 am
And another thing, if you're on pension it doesn't matter how long you live. If you have a $400k lump sum then Prasac will give you $2200 a month interest (after tax) so there is your monthly spending with capital preserved (although depleted by inflation).
You can make a deposit contract with them for 14 years, really?
Acleda will do 60 months but a MiFi probably not. I believe 36 months is more like it and interest rates are falling in the meantime.

7.25% for USD is the max. at the moment and I project us to be closer to 6.5% in 24 months and plateu out around the 5% - 6.5% rate long-term (would be happy to be wrong here).
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