Study claims you will spend $389,000 for 14 years of retirement in Cambodia
- General Mackevili
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Re: Study claims you will spend $389,000 for 14 years of retirement in Cambodia
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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Re: Study claims you will spend $389,000 for 14 years of retirement in Cambodia
I think a recent poll, probably KFH's handywork, revealed the average spending by expats was around the $2000 a month mark.General Mackevili wrote: ↑Thu Mar 04, 2021 9:32 amI 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.
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
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.
- Bitte_Kein_Lexus
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Re: Study claims you will spend $389,000 for 14 years of retirement in Cambodia
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.General Mackevili wrote: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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Re: Study claims you will spend $389,000 for 14 years of retirement in Cambodia
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.Bitte_Kein_Lexus wrote: ↑Thu Mar 04, 2021 10:54 amKeep 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.General Mackevili wrote: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.
" Tried being reasonable. Didn't like it" (Clint Eastwood)
Re: Study claims you will spend $389,000 for 14 years of retirement in Cambodia
Live for today, humans.
Be here now.
Be here now.
_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
I may be going to hell in a bucket,
but at least I'm enjoying the ride.
I may be going to hell in a bucket,
but at least I'm enjoying the ride.
Re: Study claims you will spend $389,000 for 14 years of retirement in Cambodia
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)
What's a poor man do when the blues keep following him around.(Smoking Dynamite)
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Re: Study claims you will spend $389,000 for 14 years of retirement in Cambodia
Guess I am Fuc#$d. I frequent the streets of shame and I live on death street.General Mackevili wrote: ↑Thu Mar 04, 2021 9:32 amI 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.
AND I have lasted for half the 14 years so who knows when my name is in CEO lights?
Re: Study claims you will spend $389,000 for 14 years of retirement in Cambodia
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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