damoinparadise

Hi all,

Is it possible to pay in a cheque from a UK bank account in sterling to a thai bank?

Is this a good way to get a healthy exchange rate and how long would it take to clear?

Thanks

Damoninparadise:

oh, there are so many factors to consider.....and really, you do need some professional advice ..but professional advice from someone with actual experience of living in Thailand.

My opinion as to costs etc is slightly gloomier for you than many of the previous posts.

Firstly, where in Thailand have you been? Obviously Bangkok, but are there other areas that you have been to and felt that you'd actually like to live there PERMANENTLY?

This is the first thing you should consider.

Its all well and good to have gone on a holiday in Phuket, or Pattaya and then fallen in love with the "idea" of living there (and I am NOT saying that you have necessarily done this) and then thought, "yes, I can live here". This is going to be a very serious move for you and there are so many aspects to consider.

I would do another investigative trip to Thailand and just see where suits you and also where is the most practical for you to live....remembering you current lifestyle, and also your interests and longer term goals.

Contrary to many in TV, I would NOT rent in the longer term. If you do, you will lose your funds through inflation in rising rentals. I would, after doing your research, look at buying a unit that you feel you can comfortably live in....in an area that you feel comfortable with (and are happy to walk around) and with the facilities that you need.

In BKK, this may cost you 3 million baht..or it could cost you 1 million or 20 million. In other areas, again, the prices are that broad. In Phuket, well, you could pay much, much more.

Then consider what you are going to do with your day....whilst at the same time conserving or trying to grow your cash reserves. A week lying on a beach is pleasant.....a month becomes tedious...and 6 months becomes a sentence. You will need to keep your mind and body active other wise you will go troppo.

Consider all the costings given by posters earlier. These are a helpful guide. Add at least 30% to them and then you will have a fall back position.

Consider too taking out health insurance that either covers you in Thailand or is taken out in Thailand that will allow you to go to the best hospitals if (hopefully not) necessary.

Consider the cost of having a live-in carer further down the track. This is not just because you have MS....but for anyone who is looking at spending the rest of their lives in any part of Asia. I have seen too many elderly foreigners who live as paupers and uncomfortably due to lack of planning and resources. Believe me, you won't be popular with locals if you cannot adequately support yourself.

Food, entertainment, clothing, hobbies etc, as I said, are all pretty well covered in earlier posts.

Also, as an aside, look too at Malaysia. The Malaysian Governement is actively seeking foreigners to live there through their "Second Home" project. They too have very fine medical facilities and the cost of living is comparative. KL offers the additional benefit of being a short drive from some of the most wonderful forests in Asia.

Personally, although it may not sound like it, I would encourage you to make the move...for many more reasons that time now doesn't permit me to go into. But PLEASE, do your homework by actually coming here and taking the time to look around with your future in mind.

Good luck !!

Oh, in case you are wondering: I live for part of the year in Thailand (BKK), also in KL, NYC, London and Melbourne Australia. Yes, thats how I have structured my life.

Thanks London, I did think your message was going to discourage me at first but I know you are only trying to help and make sure I don't make a huge mistake!

There seems to be a huge demand for english teachers in Thailand so I will pursue that route as a possible means of financing my next trip over there. I take on board fully what you are saying, maybe a 2 or 3 month visit is in order to get a broader picture of life over there?

Hi

I am starting a TEFL course in Khon Kaen on Monday, I visited the Institute on Wednesday and was impressed with the set up and the trainer, Steve. I was given the course modules and an audio recording. There are 5 of us on the course 4 Brits and an American. Had a chat with Steve for an hour or so and then we went to check out the accomodation, brand new apartment block in the University grounds, 4000 Baht per month plus 400 Baht per month for laundry. Very nice room with en suite and small balcony, fridge, cable TV and AC. Fully agree with Loaded that the benefit of doing the course in Thailand is that it will give you an idea of the problems Thai learners have with the language. I also opted for the 6 week course Monday - Thursday as I have heard that the four week course is quite intense.

Chris

Hi Chris,

that sounds really good, how much does the course cost?

Damien

Q: would you be old enough to qualify for a Retirement Visa?

Would you be willing to plan around the 90 days limit every 180 days? Frequent trips to neighboring countries and probably the need to maintain two apartments?

Just living expenses, I reckon you can make it on 20,000 Baht a month. Every little helps. A decent furnished studio might start at 6,000 a month for Bangkok. Add 1,000 for phone & DSL. 2,000 for utilities etc.

Thanks for that, I'm 39 so no retirement for me yet....! I think I could get by, but also might look for work just to top things up.

thanks again

The benefits of completing in Thailand are that you will teach Thai students on your teaching practices, you'll understand cultural differences and how they affect classroom management, discipline etc, I'm sure your TEFL course will give you job support and some will even sponsor you to obtain a 1-year multiple-entry non-immigrant B visa.

I think by Part 1 and Part 2 you mean the TCT's proposal to make teacher licences compulsory and the steps teachers will need to obtain a Teacher Licence. Currently, the 20-hour Culture Training course is compulsory but it doesn't seem the Knowledge Test is being universally implemented. Schools and teachers are just ignoring this requirement and many teachers are just obtaining renewable 2-year 'temporary' Teacher Licences. In Thailand when resistance is met, compromises are introduced. Anyway, you'll need to have 1-year of teaching experience before you need to worry about any of this as new teachers are exempt.

OK thanks for the info Loaded, I don't think I have enough capital to live off for the interest alone so need a job that will subsidise it. Is it viable that I would get a job teaching? I have a small amount of experience teaching CAD in the UK, but no formal qualification.

I am hoping to teach in Thailand as a way of subsidising my stay there. Can anyone advise if it is better to complete the TEFL course in the UK or in Thailand?

Also will I need the Part1 and Part2 qualification?

chiang mai, I do not disagree that there are many factors to take into accout - I believe I am the only poster here who has actually mentioned the health and health care issues. We also need to keep a balanced view, you tell us your sister believes the NHS "doesn't offer much for MS sufferers" regardless of a definition of what 'Much' means it must be remembered that the Thai health system offers absolutely nothing to a foreigner who cannot pay.

Regardless of that, making an assessment of how one foreigner with MS would get by in Thailand based on the experiences of another person suffering with MS who is not in Thailand does not provide a useful guide. Hence my suggestion of health counselling.

But I think in a sense the OP is asking the wrong question - we can all make a calculation of what is a reasonable Lump Sum to live in Thailand, obtaining that Lump Sum is the difficult part.

I suggest a more informative approach (for anybody considering moving to Thailand) would be to determine the funds that are available and then examine if a move to Thailand is a practical reality based on those funds. Hence my suggestion to take professional advice on finances.

The OP is 39 years old, as you rightly point out, MS for very many people does not mean a shortened life span. Dropping out of employment and earnings with perhaps 30 or more years ahead of you to live on savings (Health Issues asside) requires serious capital.

You have stated that your sister decided to steer clear of a medication - a choice. Not being able to afford a medication is not a choice.

I simply advise careful thought and professional advice.

We're both broadly offering the same advice Guesthouse so no debate to be had on that. Just for information however but not to derail the OP's topic, UK health authorities offer little by way of help to MS sufferers because there is little they can do other than to provide support, there is no cure at present and very little by way of medication that can be offered that may help - others closer to the subject will be able to elaborate more precisely. It is therefore not a question of being able to afford the medication or not since there really is nothing that can be prescribed at any cost anywhere.

Wow, thanks everyone who has commented/replied, I have read all your comments and found them very very interesting.

I totally take on board comments re my MS.

CM is very accurate in saying there is little the UK NHS can do, although there is Predisinole (IV steroid) which I have found very good so far, and general support is very good. For those with an interest in MS, check out the phase 3 trials now going on with Alemtuzumab

http://news.bbc.co.uk/1/hi/health/7680641.stm ...........a cure may not be far away......

I will be seeking professional advice, health and financial, you are all helpful and I appreciate all that you have said.

I too thought maybe my lump sum may be a bit tight hence the original question, and the possible interest rate drop to 2% is great while I still pay my UK base rate tracker mortgage, but worrying if I need to live off the interest rate!

I am also planning on a multi entry visa?? and returning to the UK for 3 or 4 months a year, I can lodge with friends/family.

It sounds like Pattaya or Chaing Mai can be cheap to live in. Has anyone any other comments on this?

I have been to Pattaya and there is a guy from my home city in the UK who owns a bar there who I met this year, along with a about half a dozen others from the same city. I wish I had stayed longer and made more definate contacts but hey ho! Work can be restrictive when it comes to holidays.......

What a great website!

I don't see inflation as being that big a deal, although this of course varies with individual needs. If someone is thinking of leaving the rat race and living a relatively frugal existence in Thailand, inflation is not that big an issue because they would be living life akin to a Thai. Basic housing/food costs aren't going to spiral as your average Thai on 6-10k isn't going to be able to afford them. Inflation may well eat into a westerner's budget if they want to live a western lifestyle, but if they eat and live as cheaply as a Thai, it's not going to be such a big deal IMO.

OP - are you able to claim UK benefits and still live in Thailand? There are many disabled people doing that, who live modestly but easily. DLA etc will bump up your lump sum and provide a monthly income until pension time. If you are thinking of renting rather selling, make sure you use a good agent and be extremely careful who you rent to - it can be a right nightmare.

Thanks Hans,

I claim DLA but only the basic care rate and I wouldn't be able to claim it if I moved to Thailand..........

On what you have told us I think you should seriously reconsider selling up to move to Thailand full time, and consider other options: Renting your place and living off the income may be an alternative. As may be taking longer holidays in Thailand (you only pay the airfare once for longer in Thailand).

The reason I say this is based on your long term health needs. I have a cousin with MS who has just returned from the US to the UK, he wisely did not sell up when he moved to the US and hence maintained a permanent home in the UK that he could move into. Like Thailand, like the US has very limited health care for people who are unable to pay, giving up access to the NHS for anyone with serious long term health problems is not something to do lightly.

Thailand does of course have private health care, though this is not as cheap as it was, I believe I am right in saying that inflation in the Thai Health Sector is way way above that in the general economy.

On the subject of Inflation - I believe Thailand's inflation rate is currently around 8.5% (inflation for foreigners who have different spending patterns than do Thais is undoubtedly higher). Keep the 7:10 rule in mind - 7% inflation means prices will double in 10 years. 10% means they will double in 7 years.

Putting aside the current financial woes, inflation at 8.5% is eating away at spending power of anyone on a fixed income.

Sorry to hear your health news, and sorry if my response is cautionary.

Thanks Guesthouse, I appreciate all you have said and your caution is very understandable.

I am throwing caution to the wind a little, mainly due to my MS. As I say, I am lucky in that I have only 'invisible symptoms' at present, and want to do something before or if things get worse. If I stay here and things get worse then the state will only end up taking what I have worked hard for and I don't want that...........

I joined this site to get honest and unbiased comments so thank you again.

Can I ask whereabouts you are in the world?

If only I could see into the future

Hi, thanks fo your reply. I am 39 and am basing it on the sale of my house which would give me about 100k. I have multiple sclerosis but my symptoms are mild and no-one notices there is anything wrong so I'm very lucky in that respect. After holidaying in Thailand this year and seeing how cheaply someone can live there, it has triggered thoughts of moving there as I think it would be good for me, no stress etc....

I did a pretty good budget last year, rented a two floor apartment in Chiang Mai - my cost was as follow (actual cost divided per month):

Rent: 2,700

Utilities: 1,000

Gasoline: 800

Food: 6,000

Health: 2,500 (savings account if not used)

Internet: 800

Cell: 500

Insurance: 1,500

Goods: 4,000

Total: 19,800

This was the basic costs just too live - in addition I spent in average 50k more on just crap (restaurants, drinks and travel). But this basic budget is a decent standard, Chiang Mai is cheap and you could live on much less if you tried too ... my neighbour which live in the same complex has a budget of 9000 per month and is happy and content.

Good luck!

Thanks Kash,

sounds like it is possible for me to do. Where would you say is cheaper to live, Chang Mai, Pattaya or Bangkok? Or somewhere else?

What do you get for 2,700 rent?

Hi, thanks fo your reply. I am 39 and am basing it on the sale of my house which would give me about 100k. I have multiple sclerosis but my symptoms are mild and no-one notices there is anything wrong so I'm very lucky in that respect. After holidaying in Thailand this year and seeing how cheaply someone can live there, it has triggered thoughts of moving there as I think it would be good for me, no stress etc....

I did a pretty good budget last year, rented a two floor apartment in Chiang Mai - my cost was as follow (actual cost divided per month):

Rent: 2,700

Utilities: 1,000

Gasoline: 800

Food: 6,000

Health: 2,500 (savings account if not used)

Internet: 800

Cell: 500

Insurance: 1,500

Goods: 4,000

Total: 19,800

This was the basic costs just too live - in addition I spent in average 50k more on just crap (restaurants, drinks and travel). But this basic budget is a decent standard, Chiang Mai is cheap and you could live on much less if you tried too ... my neighbour which live in the same complex has a budget of 9000 per month and is happy and content.

Good luck!

Thanks Kash,

sounds like it is possible for me to do. Where would you say is cheaper to live, Chang Mai, Pattaya or Bangkok? Or somewhere else?

Damon,

following on from Guesthouse's suggestion, how much monthly rental / income, do you think your property could generate?

Don't forget your outgoings, rates, repairs, etc.

BTW to the forum.

Thanks Gungadin for the welcome, unfortunately renting for an income would not be an option as there is not enough profit in it, my house loan to value ratio is about 50/50.

Hi all,

I am very vey seriously looking to sell up and move to Thailand, can any one tell me what amount of money I would need in the bank to be able to live off the interest? I am workingg on a 5% interest rate just to get started. Its quite confusing, I've seen anything from £70,000 to £200,000. Anyones help would be appreciated!

At what age?

I will be interesting to see what type of numbers people come up with. These threads come up now and again and there's never a firm answer, but the last time I saw that question come up in this forum the markets were still rising and people were poppoing up expressing confidence that they could make 15 to 20% annually on their money over the long term. Of course, if you can do that you don't need a lot of money to retire no matter what your age, but these days people seem to be more hoping that their money doesn't get wiped out raher than thinking that the can just sit around and get rich by pouring their money into the hot investment de jour.

Hi, thanks fo your reply. I am 39 and am basing it on the sale of my house which would give me about 100k. I have multiple sclerosis but my symptoms are mild and no-one notices there is anything wrong so I'm very lucky in that respect. After holidaying in Thailand this year and seeing how cheaply someone can live there, it has triggered thoughts of moving there as I think it would be good for me, no stress etc....

Are you living there permanent?

Hi all,

I am very vey seriously looking to sell up and move to Thailand, can any one tell me what amount of money I would need in the bank to be able to live off the interest? I am workingg on a 5% interest rate just to get started. Its quite confusing, I've seen anything from £70,000 to £200,000. Anyones help would be appreciated!