Seb
Working in Bangkok
Monthly Earnings 162,000
Q1. How is that income broken down? (full-time salary, private students, on-line teaching, extra work, etc)
I hold a senior management position in a cookie-cutter international school and my gross salary is around 200K baht, which comes to 162,000 net after deductions. I also get a free economy class return flight to US every two years.
Q2. How much money can you save each month?
I put 50,000 baht into a US 401k (via SWIFT) holding low cost ETFs. I'm in my late 50s and have rather neglected saving for retirement, hence this significant contribution. I'd much rather be spending it on something else but I hope to pull the retirement trigger at 65, at which point I'll start drawing it down and my lifestyle will transition to nuclear holocaust.
Q3. How much do you pay for your accommodation and what do you live in exactly (house, apartment, condo)?
42,000 baht a month including bills. It's a standard condo in central Bangkok with a gym, pool, etc. This leaves me with around 70K a month to live my life.
Q4. What do you spend a month on the following things?
Transportation
BTS and taxis consume around 6,000 baht a month I'd say.
Utility bills
Bills are included in the 42,000 rent. I pay around 2,000 for air-con and water.
Food - both restaurants and supermarket shopping
I eat out every night and I don't spare the horses here. Haute cuisine adds up, particularly when paying for two on many such occasions. Let's say 30,000 baht a month.
Nightlife and drinking
I'm out a lot. I love the Bangkok nightlife. I'll often be found entertaining a lady on rooftop bars and those cocktails don't pay for themselves. I'm going with another 30,000 here once 'miscellaneous services' are factored in.
Books, computers
Zero. I use a work laptop.
Q5. How would you summarize your standard of living in one sentence?
Living the dream.
Q6. What do you consider to be a real 'bargain' here?
Necking a few pints of Hoegaarden Original at 350 a pop on Palate Rooftop Bar at sunset is superb value. I'll often drop a grand there after a hard day of deciding what our school's core values are, observing teachers teach and avoiding cover classes at all costs.
Q7. In your opinion, how much money does anyone need to earn here in order to survive?
70K a month to survive but 100K to thrive.
Phil's analysis and comment
I know that feeling well Seb when you didn't worry about retirement in your younger years and suddenly your golden years need fast-tracking with some serious cash injections. You're not going without though by the sound of things. Plenty of nights out, good food, and a fine place to come home to at the end of each day. I bet you wouldn't know what to do with that extra 50,000 baht anyway. LOL
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