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How can expats living and working in Thailand as EFL teachers be able to save or invest for retirement?

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How can expats living and working in Thailand as EFL teachers be able to save or invest for retirement?

Postby gregor » Mon Apr 22, 2013 5:43 pm

I know an American who just left Korea to teach at a bilingual school in Thailand. The cost of living in Thailand is cheap, but at the same time the salary would also reflect that. Here I am in Korea, and I know that if I move to Thailand, I would not have the prestige with the benefits I got here in Korea. Apart from the fact that I can save a good amount of money in Korea, I also have a pension here in Korea. If I move to Thailand I would not have a pension and if I get one, it will come out of my pocket and I would not have much left for disposible income..
A penion alone is not going to be enough to save for my future when I get old. I am in my mid-to late 30's and I need to get an RSP in Canada to invest in my reitrement. I do however have a life insurance policy which includes financial investment.
But for young expats going to Thailand to teach EFL, how can they do it? How can they save money for retirement when the salary there for EFL teachers is not worth as much as it is in parts of Northeast Asia?
gregor
 
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How can expats living and working in Thailand as EFL teachers be able to save or invest for retirement?

Postby edison » Mon Apr 22, 2013 5:47 pm

You have covered it pretty well already. EFL pay is low and although you can live cheap in Thailand you can't live WELL for cheap. You won't save any money, for retirement or anything else. The way to do it is make your money elsewhere and then retire to Thailand.
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How can expats living and working in Thailand as EFL teachers be able to save or invest for retirement?

Postby rameez » Mon Apr 22, 2013 5:49 pm

Every time you ask a question about teaching here you are trying to convince yourself why should I leave Korea for Thailand. Why do I feel their is a women involved here? If not you proved to me you are better off in Korea than Thailand. I can never understand why young people try to make a go of it in Thailand and not wait until they have retired and have the benefits and pensions to enjoy themselves here.
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How can expats living and working in Thailand as EFL teachers be able to save or invest for retirement?

Postby kangee88 » Mon Apr 22, 2013 5:56 pm

I'ts actually very simple :-) Teachers in Thailand make upwards of 30,000 baht the cost of living here is cheap real cheap. You live well on 12,000 baht a month. This leaves 18,0000 to save each month, that's a lot by any standard. I recently documented a month of living in Thailand with $400 on my website.
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How can expats living and working in Thailand as EFL teachers be able to save or invest for retirement?

Postby esaw » Mon Apr 22, 2013 6:00 pm

They can't. Incomes are too lousy.
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