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Hey everyone. I thought Pattaya would be my retirement destination, but with the immigration restrictions going on now I'm thinking Cambodia instead. The thing is I'm tired of waiting. I'll be 58 in August. I'm won't be eligible to draw my pension for 5 more years, and I have a $230,000 nestegg put away in investments accounts.

I've got a couple of degrees but thinking of getting a TEFL and move to Phnom Penh and teach for 5 years till I'm 63. I've got a graduate degree so I think with a TEFL I could negotiate at least $1200 or more a month salary. Not real sure.

Once I'm 63 then it will be time to kick back and relax based on my nest egg and pension.

Annuity: $1,971.45 (before taxes)
Investments: $1,000
Social Security: $1,200 (estimate)

The number one thing young early (58) retirees say is "I wish I had worked more and saved or invested more money for retirement."

I've got zero debt.

I'm torn between sticking it out 5 more years and putting away another $50,000 into investments, or jump ship now and head to Phnom Penh. Can an old dude like me live comfortably on an ESL teachers salary for 5 years and not dip into my nestegg? I'd hate to have a misfire and screw this up by trying to do this to soon.

“too soon”.


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With 230,000 put away id have been gone a long time ago, but there again I'm irresponsible, Iv seen too many of my mates dropping down dead from heart attacks and stress.
I suppose it all depends on how you want to live over here, Im happy with a quiet life and not spending much money.

Advice would be to visit first, and that goes to not just here but anywhere you decide to retire.

Being on holiday in Pattaya for two weeks and living in SEA are two completely different things.

Just my thoughts, Im sure on here somebody will have a difference of opinion.

DaveG wrote: ↑Sun Jun 02, 2019 12:29 pm Being on holiday in Pattaya for two weeks and living in SEA are two completely different things.

True that. I've been stationed in South Korea, and Japan a couple years during my military service, and spent a couple crazy weekends in the Philippines back in the 80's. Spent three days in Bangkok when I worked for an airline in 1996. Never really "lived" in Asia, ...military bases don't count. I've only spent time there. Loved every minute of it, and have spent decades trying to figure out how to get back.

if u have $230,000 in an investment account how can the new regulations of having 800,000 in a thai account or transfers of 65,000/month, make a dif to you?

Have you ever taught English to non english speakers before? Its NOT for everyone ( i tried it decades ago and hated it).

AS above, visiting in se asia, ( or being on an Army base) is not even close to living here...

You can have a good life on $24,000/year in Thailand or Cambodia
PS ; SS starts at 62 not 63

TO me, nothing worse than dying with money in the bank
I want to go out with my credit cards max'd out...

Such a personal choice balanced between financial considerations/requirements/aspirations and the degree to which you value personal freedom and enjoy your chosen work.

I took the early option in Pattaya because I valued freedom ahead of further stressful and not particularly enjoyable work. The uncertainty of lifespan also played a part, who wants to croak it before really enjoying the fruits of their hard earned labour ?

I think a major consideration Is how confidently you can fill every day enjoyably/productively if not working, after the initial experience a lot of people struggle if they’ve not had to do it before. Luckily I’d been swinging off the rafters for a couple of decades in Pattaya before retiring so it’s been a healthy and natural move away from that scene which is a shadow of its formal self now anyway so no regrets on that front. Wherever you live the considerations are the same.

First thing, you must visit PP before you make a decision. It does not suit everyone.
If you do like it, then don't assume it will stay the same and you will continue to like it (or it like you). Cambodia is growing and changing rapidly. Political stability cannot be assumed anywhere in Asia.
If you have not taught EFL before then this also may not suit you. Even if it does, Cambodia is not a good place to practice that skill because the salaries are low and the schools are somewhat chaotic (so I hear).
Annuities offer poor value because life expectancies are high in the West. Your life expectancy will reduce considerably once you live in Cambo but you won't get a better annuity rate in return.
Your principal financial risks are:
1. Getting into a relationship with a Khmer and losing a lot of money to her.
2. Investing in a local business and losing it that way.
3. Drinking and/or smoking too much and getting sick - hospital costs
4. Your investments doing poorly (this can happen whether you leave the US or not).

I think so far this has been factual. Now for my opinion.

You need to do something with your time or you risk getting into trouble with 1-3 above.
Do online work of some kind. Not a business, just work for people (not in Cambodia) on a freelance basis. Get paid into your US bank account. Under FATCA, you have to pay US tax on all of your worldwide income in any case.
Take a keen interest in your investment nest egg. Most advisers do not offer a good service. Good ones do exist but they are not cheap and they take some finding. Consider paying for a quality subscription service and just make all of your own investment decisions (this will end up being a part-time job and will obviate the need for any other work). Hedgeye.com is a good one, costs about $1000 per annum. You can keep 10% of your nest egg in Cambodian MDIs that pay about 7% p.a. interest, net of tax, on one year fixes. Not more than 10% because there is no guarantee behind any banks here.

Most important, ask yourself how much self-discipline you have. If you don't have enough then risks 1-3 will probably overwhelm you. If you have enough, by all means come over but stay nimble and keep your head on a swivel.

Excellent post from armchair lawyer.

You need to consider a couple things:

1. Your health. Medical care in Cambodia is improving but its not where you want to have a heart attack. Anything major means getting yourself to Bangkok and likely paying out of pocket.

2. Are you willing/able to not fly back to the states every year? That means for weddings, funerals, to visit family, Thanksgiving, CMAS, etc.

3. Do you enjoy teaching? If your going to be doing it for 5 years I'd make sure its something you get enjoyment from.

4. Quality of life issues - things like pollution are very different here. Ease of acquiring many things. Availability of some things. Level of corruption. If your an easy going type person these thing may not bother you much - if your not they can drive you to insanity.

5. Teaching at $1200/month will allow you to live "just getting by" with the basics. And yes, you can get a room with a fan for $200 a month - but is that really how you want to live?

6. I assume you're not going to maintain a house in the USA. Plan out how your going to maintain a US address for things like credit cards, various statements, etc.

Personally, I'd consider at least working a few more years and setting up an emergency fund - say $20K or $25K before considering leaving the job and relocating overseas. That also lessens the # of years that your planning on just getting by before a retirement income kicks in - and it might also allow you to delay SS for a year or two which means higher payouts in future years.

Need to visit and really try to understand if the quality of life issues are ok with you. Thailand (IMO) has a much higher quality of life so I would think twice before deciding to pick Cambodia over Thailand.

Good luck.

DaveG wrote: ↑Sun Jun 02, 2019 12:29 pm Advice would be to visit first, and that goes to not just here but anywhere you decide to retire.

Being on holiday in Pattaya for two weeks and living in SEA are two completely different things.

Even when you come here. In the beginning you just see everything at a superficial level. The longer you are here, the clearer things become.

Dont cut all ties at home and make it so you cant go back, at least for several years.

I plan to live in Australia and have long visits to Cambodia.

For example, there are places without a reliable water supply. So if you want to have a shower you have to wait. If they planned sensibly, life would be so much easier. I get fed up with things which could be done properly, but are not.

Things are changing rapidly. If you work out what it costs to live here, in years to come it will be more expensive. I would not make any long term committent.