My organization paid good salary with health insurance, travel allowance, education allowance, Severance pay (Thai laws). But they don’t have 401K or retirement plan. Therefore, if I do not save money I will not have any saving.
Currently, I open to Thai bank account–Standard Charter Thai and Siam Commercial Bank. I used them on my daily activities–paying bills etc.
Can you please suggest financial plan? What kind of program I can enroll to save about 10-20% of income each month without me using them to buy "nice-to-have" staff lol?
Some Thai companies do make contributions to pension plans for employees, but I rarely see it.
Saving 20% of your monthly income is a good start, but just saving money isn’t good enough. You need accounts to provide you with interest on your money so you can stay above inflation.
You should consult with a financial adviser at a reputable bank in Thailand or Singapore.
I would suggest is to buy a property something like a LPN condo and rent it out use that as a pension plan it will provide you with a regular topup of your salary and when you reire you can either sell it and use the sale price as income or continue to reap the rewards of rent from a tenant.
I do not believe in any pension company.