I had a good discussion recently with Lancelot about cost of living in Thailand - he lives for about $1k/mth while my budget is about 1.5K/mth(more travel). None of us are making any sacrifices to live for this kind of money compared to our lifestyle in home country (besides living in Thailand 8)).
We concluded that by simply living in Thailand (or other low cost/good standard of living place), and without doing any other "sacrifices" a retiree with a decent nest egg could consider the "living in Thailand" to be ones (only) job.
The $1M retiree earning 4% real after inflation would still see growth of 2-3% real, or $20k-30K per year - being more than most manage to save while working.
Even the $500k retiree earning the 4% real would see see some real growth.
For Lancelot and I it does probably not matter much as we love Thailand anyway but for others it might make sense to see a move to lower cost areas (even in ones home country for that matter) as ones "job" - comparing some of the hurdles of a new place (language/weather or whatever) with the cumbersome 8-10 hours a day one did in the hamster wheel before certainly puts the new life into perspective - and makes some of the petty challenges so much easier to cope with.
Cheers!
We concluded that by simply living in Thailand (or other low cost/good standard of living place), and without doing any other "sacrifices" a retiree with a decent nest egg could consider the "living in Thailand" to be ones (only) job.
The $1M retiree earning 4% real after inflation would still see growth of 2-3% real, or $20k-30K per year - being more than most manage to save while working.
Even the $500k retiree earning the 4% real would see see some real growth.
For Lancelot and I it does probably not matter much as we love Thailand anyway but for others it might make sense to see a move to lower cost areas (even in ones home country for that matter) as ones "job" - comparing some of the hurdles of a new place (language/weather or whatever) with the cumbersome 8-10 hours a day one did in the hamster wheel before certainly puts the new life into perspective - and makes some of the petty challenges so much easier to cope with.
Cheers!