Early Retirement

Any thoughts, from those of you who have done it?

I arrived in Thailand in my early twenties, with nothing much more than my suitcase and a lot of energy. Now, in my early forties, I have enough to retire in style (so much for those who say it's impossible for a foreigner to make money here).

The nay-sayers say I'd be directionless, bored, unchallenged. I say there's hardly enough time to do all the things I want to do before I die: travel, learn another language, spend more time with family and loved ones, read, enjoy sunrises and sunsets.

Anyone?

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[TOQ]

Any thoughts, from those of you who have done it?

I arrived in Thailand in my early twenties, with nothing much more than my suitcase and a lot of energy. Now, in my early forties, I have enough to retire in style (so much for those who say it's impossible for a foreigner to make money here).

The nay-sayers say I'd be directionless, bored, unchallenged. I say there's hardly enough time to do all the things I want to do before I die: travel, learn another language, spend more time with family and loved ones, read, enjoy sunrises and sunsets.

Anyone?

I retired early but only by about 5 years.. Your situation seems a bit different.. There is always the option to return to work if you desire after you have been retired for awhile.. That way you can try retirement and see if you like it..

john

[adman5000]

I stopped working several years ago in my mid-forties and it has worked out great for me. I think it depends on the individual. I have many different interests and I think that is VERY important. For the people where work = their life and don't have a lot of other interests or hobbies I think it is much more difficult for them. I tell people I was adjusted after my first day! I eased myself into it. The year and a half before I stopped working, I went on a part time schedule by taking EVERY Friday off. I quickly saw that it was the right direction for me. A financial plan is also key so you don't spend your new free time worrying. I replaced work with key activities that I totally enjoy such as occasional volunteer work, visiting family, going on vacation to places I always wanted to visit, and spending more time on my hobbies.

If it doesn't work out, you can always go back to work. I quickly dump that thought every time it comes to mind! One of the lessons of observing people in Thailand is how you can survive without many things you "think" you "need."

I retired 4 years ago at age 34 - and will never work again

Of course I had 9 million reasons to retire so young - thanks to the number 17

Haven't had a dull moment since

Try to make sure you have enough money! The longer you stay away from the working world, the harder it usually is to go back to it. It would be psychologically very hard for me to go back to work, and because of not working for years, even if I could find work, it would be at much reduced wages. The younger you quit, the more money you need ...

[yaraboy]

I quit the rat race at 43 and have been happy ever since. I keep my mind active by being an aggressive investor with a side benefit of getting much richer . Technology allows me to keep in touch most of the time regardless of location

You guys are so lucky and brave.
I am 42 now, have been thinking about early retirement since I first visited LOS 3 years ago. I actually posted a message here last year inquiring about early retirement.
Being financially conservative, I am just too afraid that I don't have enough money to live on if I retire now. My total asset is about USD 1.5 million, which includes bank deposit, a house, and 250K in my 401K retirement fund (invested in stock mutual funds), but no pension.
Sure it's cheap and easy to retire early in LOS if you can live there like a Thai. But, no offense, I would not enjoy that. I only stay at 4 or 5 star hotels when visit LOS. If I move to LOS, I would only stay at an upscale apartment there, which I believe should cost at least $1200/ month for rent, plus utilities and maid service. Add entertainment, meals, travel. I concluded I can't afford to retire now.
On the other hand, I don't have much of a life in my farang land now (boring job and boring life with very little sex), so this is becoming a struggle for me.
:bounce:

Scott, you have more than enough.
We aren't all that brave. But you sound like a big chicken. Who are you leaving all your money to because it sounds like it won't be you who is going to enjoy it.

If you had said you were thrilled with your life in farangland, I wouldn't have said what I said, but it sounds like you next a swift kick in the ass.

[Dick]

I remember one lovely chap who planned well for an early retirement. He put as much as he could into his pension plan in his latter working years to maximise his pension, so that when he took his early retirement he had a substantial monthly income for life. Unfortunately he didn't live anywhere as long as he had planned.
As they say, you can't take it with you. If only we could glimpse into that crystal ball to know how long we have on this world. Over cautious and perhaps you sacrifice experiences during your working life for the promise of better in longevity; underplan and your pensionable life is but a waiting for God without the enjoyment it might otherwise bring.
For many the weekly lotto or pools brings hope and the answer to many a dream.
No. #17 was it?

[adman5000]

Scott123- Why not give retirement a try. If it doesn't work out or you feel your spending it quicker than makes you comfortable, you can always go back to work, or work part-time. There are also ways to make the 401k accessible sooner if you need it. It sounds like not having a pension and how to cover your medical will be the biggest items to plan out. There are a lot of free retirement calculators out there which you can use after choosing your assumptions. Just do a search on retirement calculator.