garyk

1 hour ago, Cabradelmar said:

You are delusional if you think this will not apply (soon) to those holding "retirement" visas or every other type of long stay status

I agree, I am kinda curious what else they will do to extract money out of the expats, and long term hanger owners. I thought 800K was a stretch, then the 400K hit, that one caught me completely by surprise.  Now the insurance!  Damn, we need to start a pole to see who can guess the next thing they will hit us with... haha

10 to one it will be a sweep across the board. 

What a total mess.

8 hours ago, klauskunkel said:

Thai exporters have now joined the exalted ranks of Thai tourism, congratulations

Haha, I think you summed it up with one sentence.  

Lets see how many Chinese tourists pour into Thailand now. 25% tariffs went into effect. Chinas stock market is in a pretty steep sell off. With all the recent events Thailand is in a very poor position IMO.

Thailand pretty much sealed their fate with the ridiculous retirement rules, regarding western countries. That will trickle down to even poorer numbers of western tourists coming to Thailand.

I for one am very curious to see how this plays out for Thailand. 

The Chinese stock market is tumbling, S&P has dropped over 500 points today. But Thailand is seeing a surge in tourist arrivals.  Haha. I can't wait to hear the spin next month.

This nonsense never ends in the LOS's

1 hour ago, Father Fintan Stack said:

That will be the straw that breaks yon camel's back.

 

A slowdown in China will pop the bubble here.

 

It's coming and you're right may be Trump's tariffs that spark it 

Yep, Thailand is in for some rough time's ahead IMO on the tourist front.

I lived there for months while birding in Hala Bala... 

I think that is all I need to say... haha

1 hour ago, garyk said:

 

how can a decline of 0.7% represent 3.5 million people?
if that's the case what's the total of visitors to thailand in 2018?

It should of said 7%. 7% = .07.  So 3.5 million  = .07 = 50,000,000 

Which is in line with the tourist info I think. 

They had the 3.5 million right but the .7% should of been 7%

On a side note, the Chinese economy is not doing good. I have some Chinese stock and it is in the toilet. Trump is going to up the tariffs next week with another 300-400 billion ready to put in place. IMHO if that happens Thailand could see another significant drop in tourists from China.

4 hours ago, NotYourBusiness said:

Another humbling graphic (only 20 years away):

 

Just buy some stock in a good index fund in China, then ride out the Chines run to power with a smile on your face... haha.  Personally I think these charts are Way over blown. But, to hedge the bet pick up some stock... ????

I agree with the report actually. But, Thailand is stupid to shun westerners IMO. You never know what is going to happen and how markets are going to change. This kind of mentality never ends well.

Anyone ever spending much time in Thailand knows it is a horribly polluted country. And a 3rd rate retirement and tourist destination at best.

It is only good for one thing... haha.  And that is it basically.

I agree with others here that say the Chinese, Indians don't know any better. They are first timers. And they will drive the economy in Thailand. But, what westerner in his right mind would want to be in that environment..!

Go home and do not come back Westerners! I think that pretty much sums up the current state of affairs in Thailand.

Coming to Thailand for one last Abdominal massage. 

I have to say, it you gotta go, I could not think of a better way to meet your maker..

On 4/7/2019 at 8:55 PM, gk10002000 said:

As far as money and interest, I keep my money fully invested in the USA and in mostly tax free investments or my ROTH IRA.  I hate paperwork, and while the FINRA 10K USD filing stuff is not hard, I hate to file paperwork with the USA if I have $10,000 USD in any overseas account.  And if I had 800k baht or about 24,000 USD on deposit in Thailand that would not only require me to file the 10k document, I would also now have to report any interest earned on that when I do my USA taxes.  Just my preference to hate to do additional paperwork or filing.  And that $24,000 USD can earn me a decent penny in the USA in my tax free investments, easily over $1,000 a year.  The fact I can afford to not earn that is irrelevant.  I got to where I am in life by not throwing away $1,000 silly nilly.  Income method was a nice simple thing and something I could easily proved and document before.  Now with the recent changes, the whole thing is a mess.  I have no desire to setup any sort of automatic transfers, or withdrawals, pay fees, risk account security, overseas issues, etc.  But, it is what it is.  Will see how things shake out in the next year when I do the Thailand thing as I semi retire

Same boat, in a nutshell. Screw Thailand and their new retirement rules.  haha

Google and read this if you have time,  Thailand: Shifting Ground between the US and a Rising China

It ain't going to get better in Thailand for westerners IMO. 

2 hours ago, JustAnotherHun said:

You really think 75% of the US retirees are not able or willing to switch from the income to the 800k method?

Yep I do.  The only ones that will switch to the 800K rule are the ones that are here already, Most are stuck and in a relationship. New retiree's will avoid Thailand. To many other places that want retiree's. Thailand is a joke IMO for retirement. I still have 11 months on my retirement visa there. But, I have already moved on. You would have to be an idiot to put that kind of money in a Thai bank... for what? I will get hammered for this but it is the truth, Thailand is an extremely unfriendly retirement destination IMO.

6 hours ago, ousaou said:

The US Embassy in Bangkok is refusing to notarized the annual income of US citizen. The majority of US permanents US residents are Social Security recipients. The social Security Administration sent a letter on Social Security letter head, every recipient, in December of every year “Your new benefit amount” for the following year. It shows your gross retirement and your deductions, if you have any. It shows your retirement net, before taxes.

 

The US Embassy represent the Federal Government and as such as access to all US Social Security Account on line, on the Federal Government network, which is secured.

 

I cannot stomach an official government, so call, embassy that say, on their web site, that they cannot “verify”. This can of lie is not acceptable. An embassy purpose is to take care of the US Citizen, a side from the diplomatic relations, with the Thaï government, they refuse, there is a name for these kinds of people?

 

 

 

They are stopping all notery services everywhere. Personally I think it is to reign in retirees (baby boomers) from retiring overseas. It will stop 75% or more from the states from going to Thailand IMO. With Thailands retirement rules, it is a dead end for most retiree's. So mission accomplished. 

46 minutes ago, sometimewoodworker said:

No it is your stupidity, if I had to do that I would be getting at least 820 Baht a month, and that is in a standard savings account, you can certainly get more interest than that.

Haha, 820 Baht a month... 800,000 Baht. One of the cheapest countries in the world to live, and the most expensive and unfriendly retirement rules in the world. 

Got to love LOS's and the people that defend these new rules.. LOL

A fool and his money comes to mind when I think of the new retirement rules in Thailand. 

Personally I would not be surprised if the banking system was pumping huge amounts of money his way. The changes in the retirement extension, smelled to high heaven IMO.