I was divorced a few years ago. I still have something left. I am now 46 and remarried. My wife is Thai and we both want to move back to Issan Thailand to retire. I would like to go at age 50. I am not sure if I can afford it.
Here in the USA:
I will be selling my house. It is now worth 430K-100K mort=330K
My 401K - 275K
My IRA’s -30K
Cash- 75K
Saving 13K/year in my 401K
The earliest I can get my pension is when I turn 55. At the greatly reduced rate of 50% I will get 700.00/month –No COLA
Then SS at 62..Not sure what amount. I think about 1300.00/month
In Thailand:
I will need to buy a house 70K-100K
And a car 22K
I will need to pay for my own medical or buy insurance.
What do you think? Can I do it?
I am looking for a financial advisor now because I feel like I am unable to project what my future withdrawals can be. Where should my money be invested and what amount can I safely withdraw? What about when my pension and SS kicks in? Will the withdrawal amount change or will I need that extra money because of inflation?
Thanks
mikeL
Here in the USA:
I will be selling my house. It is now worth 430K-100K mort=330K
My 401K - 275K
My IRA’s -30K
Cash- 75K
Saving 13K/year in my 401K
The earliest I can get my pension is when I turn 55. At the greatly reduced rate of 50% I will get 700.00/month –No COLA
Then SS at 62..Not sure what amount. I think about 1300.00/month
In Thailand:
I will need to buy a house 70K-100K
And a car 22K
I will need to pay for my own medical or buy insurance.
What do you think? Can I do it?
I am looking for a financial advisor now because I feel like I am unable to project what my future withdrawals can be. Where should my money be invested and what amount can I safely withdraw? What about when my pension and SS kicks in? Will the withdrawal amount change or will I need that extra money because of inflation?
Thanks
mikeL