2012

[TEXASMAC]

Good advice Sid except for one thing. I am NOT putting my fat butt on a motorbike. On the plan taking shape I will need to spend 8 weeks in either Pattaya or Bangkok to attend the school to enable me to teach englsih. I have read much about Hua Hin and would like to visit there.

[PigDogg]

Hey Mac,

If you roll some of your 401K money into an IRA you can then take 72(t) distributions, aka Separate Equal Periodic Payments (SEPP). There is no 10% penalty but you would have to pay tax. However by limiting your distributions to about 9K per year then you would be in the 0% tax bracket so there would be no tax.

Btw, for those folks who are between 55 and 59, under most 401K plans if you separate from service during or after the year you turn 55 then you can also avoid the 10% penalty.

Lastly the Merril Lynch brokers do not have a fiduciary responsibilty to act in your best interest. So strangely you can get better financial advice on a transexual forum than at Merril Lynch.

Lemme know if you have any questions bro.

[moe666]

Reading more of your post here I think you probably need to wait a while. If you think living on 1000.00dollars a month will suit you think again. Yes Thailand is cheap but it is getting more expensive mainly due to the declining value of US dollar. I stay in Chiang mai which is cheaper than Bangkok but going out with the girl friend for dinner and a few drinks can add up fast and you will get tired of eating 30 baht bowls of noodles.
Lets say the teaching doesn't work out how will you finance a retirement visa. It is either 800,000baht in the bank or 65,000baht a month income about 2300dollars there abouts.
Be wise you donot want to pull up stakes in the states and then have nothing to fall back on if it all goes belly up in Thailand.

I met an English guy a year ago and he lives on tourist visas and stays in monastaries until he wears out his welcome. He is a praticing Buddhist and speaks ok Thai he does it but after a month at the monastary I wouldn't want to nor do I have too thats the catch I have options that allow me to live any life style I want. Thats something you really need to think about before you pull the trigger.

[PigDogg]

(TEXASMAC @ Jul. 22 2011,23:07) By the way talked to the crooks, oops I mean Merrill Lynch. If I take the 401k I say good-bye to 42%.    

When you retire it is your right to rollover (direct transfer) the money from your Merril 401K to the IRA of your choice.  I personally likie Fidelty because of a great website, great customer service and no fees.

You will want a direct transfer where you never touch the money.  It goes from Merril Lynch to Fidelity.  

One thing you do have going for you is I assume Texas, with no state income tax is your offcial residency.

If you don't need to be close to good hospitals then consdier teaching in Phnom Penh.  Many international schools and unis but not many barang (we're not farang in Cambo) so the supply/demand situation is good for teachers.

[COIN FLIP]

Don't forget that moving here isn't a one way ticket...

Maybe you could plan a budget to move over for a year with the intention of returning.

Of course whether you actually do return is something you can decide on later.

[TEXASMAC]

The teaching job, where to live, and even when seem somewhat flexible decisions. The big issue will be the 401K. I had forgotten all about the old fashioned IRA. Yes PD I am a residence of Texas for the past 8 years and you are correct on te no income tax. Moe the $1000.00 a monthwas how much I could live on for 3 years if I nevr worked. The more information you gentlemen give me the more work I end of doing. I will keep on planning and thansk again for the information.

[Gle0326]

Hey Texasmac I also live in Texas(El Paso) and I have only been to Thailand one tine and that was last year from Sept. to the latter part of Oct.
actually it was 6 weks in all. I stayed in Bangkok for 4 days looked around and went to nana several times and also guess bar. Ididn't like Bangkok except for the LB's. Went to Hua Hin and stayed for 2 days had a blast nice laid back city, clean and friendly. Then went to patong on Puket Is. didn't like it at all left after 1 day. Now I spent the rest of my time in Pattaya and rally enjoyed it very much.
I'm in my 70's and in good health and I am also considerinr retireing to Thailand. My proble is my cancer of the prostate. Matbe after I get that takn care of i'll be able to get back to LOS and continue my quest for retirement.
Every once in a while I'll take a look on the internet at houses for rent in pattaya. This would be a good way to go and have some time to look around.
I don't think I would like chaing Mai because I don't like the cold. In the outskirts of Pattaya might be nice maybe even Jomtien would do.
I just need more time to look around some more. I would also need to think about my family 2 kids 6 grand kids .
f I can help in any way let me know Cheers aged;

[TEXASMAC]

Thanks Gleo. I have now been to Pattaya 5 times. When I first thought about the move I think it was all about mongering. Now with the advice I have been given and the research I have been doing its more about leaving the rat race, leaving the 55-60 hour work weeks. I am not materialistic, have not seen my sisters in over 7 years so I dont have much holding me back. I talked to one BM who met a nice Lady and moved over to LOS. I asked him would he have moved even if he had not met her and he said yes. I will not rush into anything ( well the trip to the Big Bash was a spur of the moment decision ) so I am continuing my studies. The issue I am working on is the moving of the 401k. I have contacted Fidelity as PigDogg suggested so that is moving forward. I am sorry about your health issues and I wish you well so you may continue.

[TEXASMAC]

I have almost worked it out where I can get 12 weeks unpaid vacation that protects my job. I have done some research and talked to my doctor and I am working on her to fill out paperwork so I can go on non - paid FMAL leave. It protects my job. Anybody have and reasonable priced locations where I can stay for the 12 weeks in Pattaya. It will be my test run and I still keep the job and $$.

[BlueBallz]

I hear they have very cheaply priced rooms on Soi 6!! just kidding Texas!! I only spend a couple of nights and a time in Patts so i really dont know. Thats about all i can stand!!! You know years a go, I could easily have seen myself living in Patts fulltime. I dont think I would like to now!!!

[TEXASMAC]

BB, I am not sure Patts is the place either. I like the idea of taking a few months looking around, but I the two schools I have investigated have classes in BKK and one has classes in Pattaya and the other Phuket. If I can get the 12 FMLA from work it will give me time to explore.

[L B F]

Let me know when you get here. You can stop over my place and we can drive to Hua Hin for a couple of days/nights! Plus you get my advice for free for whatever that is worth! Bring a big bottle of Beer Chang!

[TEXASMAC]

LBQ, its a deal and the advice will be welcome and I am sure enlightening. Thanks