Hypothetical Situation...

[mettech]

19 hours ago, LazySlipper said:

Right now the loonie is down to 23.27 bht to the dollar. It was for many years 30 bht to the dollar. I could get 3000 bht for 100 $. Now only 2300... I am suffering to say the least. 

 

I still wonder why the bht is so strong. I guess in Canadog the Americans don't appreciate that we are going to replace the color of our flag to green and the maple leaf to a pot leaf. 

 

But I will try to  hold out as long as possible.

My old age pension was good atb 30bht for a dollar but now it is too low and this pension of mine do not meet with the 60000 bht per month revenue. so back in the snow till find another cheap place to go.

 

[Jingthing]

7 minutes ago, mettech said:

My old age pension was good atb 30bht for a dollar but now it is too low and this pension of mine do not meet with the 60000 bht per month revenue. so back in the snow till find another cheap place to go.

 

Don't be silly. Use the combination method. Many people do. 

[meechai]

2 minutes ago, Jingthing said:

Don't be silly. Use the combination method. Many people do. 

Combination method? Is that where you give him what he is short?

Because perhaps pension is all that poster has.

 

[Jingthing]

12 minutes ago, meechai said:

Combination method? Is that where you give him what he is short?

Because perhaps pension is all that poster has.

 

Based on what he wrote, it sounds like his shortfall isn't large. Many people don't even know the combo method exists and think it's 65K per month pension or forget about it. Yes I did assume he could cover a shortfall of 100 or 200K baht.

[JLCrab]

9 hours ago, bwpage3 said:

Yesterday's Bangkok Post was reporting exports increased 10%  and have not been hurt at all by the current currency levels.

That same article also quoted the Thai trade official in saying that Thai exporters' income will diminish if the baht is left unharnessed.

[LazySlipper]

4 hours ago, Jingthing said:

Based on what he wrote, it sounds like his shortfall isn't large. Many people don't even know the combo method exists and think it's 65K per month pension or forget about it. Yes I did assume he could cover a shortfall of 100 or 200K baht.

 

When you lose 7 bht to the dollar the shortfall is actually quite steep.

 

It is equal to 20 % more or less... hurts like hell... when will the Thai balloon burst? Hope it is soon.

[starky]

22 hours ago, WinterGael said:

My wife and I have talked about this briefly.  We could still get by at 20 baht per Canadian dollar,  but we would be giving up some holidays.  I was worried, but when we pricrd out a new condo at 1000000 baht, 10% down and 18000 baht per month income and bank happy.   So ... do we live broke in Canada or broke in Thailand?

Good post.That is really the heart of the matter for quite a few I would say especially Aussies saying that if the baht stays below 23 they can't  even make the minimums for a retirement visa. So basically they are broke. I know if I was ever in that horrible position I would be doing my best to hang in here. I would posit life as a broke here is exponentially better than life as a broke back in Oz. I remember being here when the baht was around 18-19 for us Aussies it was bearable but everything seemed really expensive. I am staying regardless but if it dipped down around that again life would be less fun and I make a good earn. 

[starky]

20 hours ago, lopburi3 said:

Faark me imagine living in that? No thanks.

[starky]

15 hours ago, Lacessit said:

I think if the baht was less than 20 to the Australian dollar I would be re-evaluating. Oh the days not so long ago when it was 33 to the AUD.

Every nation fiddles its currency with interest rates and money printing. My guess is the Thai government would intervene if the baht got too strong - hurts exports. Increased purchasing power for imports doesn't mean much with the tariffs they have in place.

No offence but some of you Aussies mustn't have been here long harping about 33 baht to the Oz. It was above 30 for a very short amount of time and 32- 33 for about five minutes. Since '98 I've seen the baht at everything from 18 to the oh so glorified, unrealistic and never to be seen again 30+. I would generalise that in my time that the average would be @27-28 to have a great life here. However given the current state of the Aussie government and economy I would imagine that 22-23 is probably more likely to be the norm for the foreseeable future. 

[Henryford]

1 hour ago, LazySlipper said:

 

When you lose 7 bht to the dollar the shortfall is actually quite steep.

 

It is equal to 20 % more or less... hurts like hell... when will the Thai balloon burst? Hope it is soon.

It is only going to get worse. The western countries can only survive by low interest rates and printing trillions of funny money. Their currencies will slowly decline until they are worthless. I suppose i could mange with the Pound at 30 but i would have to cut out all but essential spending. Still better than living in a cold Islamic State like the UK though.

[GreasyFingers]

Living here with the baht dropping is no great hassle but I need to bring money over to buy a house for the wife (do not need the stupid comments, it will be her retirement fund as I will die long before her). I did the figures at 26 to aud:

$200K @ 26 = 5.2M baht

200K @ 23 = 4.6M baht.

That lost 600K really makes the decision much harder now.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

[lovelomsak]

13 minutes ago, GreasyFingers said:

Living here with the baht dropping is no great hassle but I need to bring money over to buy a house for the wife (do not need the stupid comments, it will be her retirement fund as I will die long before her). I did the figures at 26 to aud:

$200K @ 26 = 5.2M baht

200K @ 23 = 4.6M baht.

That lost 600K really makes the decision much harder now.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

I feel the same will stay but losing a lot on exchange. The difference between now and 5 years ago for me is about 50,000 a month if it stays at 23 as compared to 30 something 5 years ago. That is a lot of baht to not have every month. That is 600,000 a year I am losing now. But better poor here than in Canada

[Jingthing]

6 hours ago, LazySlipper said:

 

When you lose 7 bht to the dollar the shortfall is actually quite steep.

 

It is equal to 20 % more or less... hurts like hell... when will the Thai balloon burst? Hope it is soon.

Fair enough but I still think the vast majority of long term retirees here could make up a shortfall in pension of 100K to 200K baht using the combination method (income plus bank account). Of course not all, but most. 

[Lacessit]

19 minutes ago, Jingthing said:

Fair enough but I still think the vast majority of long term retirees here could make up a shortfall in pension of 100K to 200K baht using the combination method (income plus bank account). Of course not all, but most. 

I thought the combination method was when you combined with a Thai woman to lower the deposit required to 400K baht. Although the logic of that escapes me.

Please clarify - for a single retiree, what income and what account balance is necessary?

[Lacessit]

5 hours ago, starky said:

No offence but some of you Aussies mustn't have been here long harping about 33 baht to the Oz. It was above 30 for a very short amount of time and 32- 33 for about five minutes. Since '98 I've seen the baht at everything from 18 to the oh so glorified, unrealistic and never to be seen again 30+. I would generalise that in my time that the average would be @27-28 to have a great life here. However given the current state of the Aussie government and economy I would imagine that 22-23 is probably more likely to be the norm for the foreseeable future. 

None taken - I'm quite happy with anywhere between 25 - 27 baht on the AUD.

If you look at Australia's current account deficit, agriculture exports to Asia are steadily increasing. And there's a lot of natural gas coming on stream, which means less import expenditure on capital equipment, and more energy exports. So I'm reasonably optimistic without saying I can predict the exchange rate at any time.

[Jingthing]

10 minutes ago, Lacessit said:

I thought the combination method was when you combined with a Thai woman to lower the deposit required to 400K baht. Although the logic of that escapes me.

Please clarify - for a single retiree, what income and what account balance is necessary?

Talking about retirement extensions, not marriage extensions.

 

To financially qualify for retirement extensions (legally) you have three choices --

 

800K in a Thai bank seasoned for two months for first extension and three months for subsequent extensions

 

OR

 

65K per month income

 

OR

 

COMBINATION of income plus Thai bank account money totaling at least 800K. 

 

Could be combined in any way. For examples -- 200K annual income plus 600K in Thai bank account OR 200K in Thai bank account plus 600K annual income.

Edited March 23, 2018 by Jingthing

[sanemax]

8 minutes ago, Jingthing said:

Talking about retirement extensions, not marriage extensions.

 

65K per month income

 

 

Does that income have to be into a Thai bank account ?

[Scooby and Puppy]

22 hours ago, Kimber said:

 

300 to 500 is reasonable,  1000 as in the Nightwish Bars on Soi 6 Pattaya is damned extortionate. 

I have heard..wink wink...that if you pick one just before their shift is about to end, then arrange to meet them after, and you can give them a little more. She makes a bit more, and you save a bit more..win/win.

I don’t know myself, but heard it from a ‘friend’. It works for m...er, him.

[rickudon]

When i came to Thailand you got 68 baht to one GBP, free ATM use and no charges on the debit card for foreign use. None of these now apply. If the GBP falls below 30 baht (not impossible, due to a loony referendum) my pension may not cover my marriage extension and leaving would become a distinct possibility - that would be tough for the wife and daughter.

[impulse]

On 3/22/2018 at 9:36 AM, cnx355 said:

No, but in 1990 I had my Canadian dollars here at about 19 B and there was no problem as prices were real low at the time.  Most things were priced  less that half today prices.    

 

For prices to double in the 28 years between 1990 and today, the inflation rate would have averaged 2.5% per year.

 

I suspect globalization has increased local prices in Thailand a lot faster than 2.5% as locals (and expats) are now effectively bidding against customers all over the world, as opposed to 28 years ago when a mango grown in Thailand was going to be eaten in Thailand and the only "bidders" for those mangoes were those in Thailand. 

 

Contrast that to back home where they can now buy those Thai grown mangoes at a lower price than a mango grown in, for example, California. 

 

Bottom line, the cost advantages of living in Thailand are shrinking, and I expect them to shrink even further as more and more escapees (and their money) from China drive up demand for housing and other resources.  If Fukushima gets (or even appears to get) a little worse, it could be a stampede.

 

All regardless of what the baht does.

 

Edited March 23, 2018 by impulse

[Lacessit]

2 hours ago, Jingthing said:

Talking about retirement extensions, not marriage extensions.

 

To financially qualify for retirement extensions (legally) you have three choices --

 

800K in a Thai bank seasoned for two months for first extension and three months for subsequent extensions

 

OR

 

65K per month income

 

OR

 

COMBINATION of income plus Thai bank account money totaling at least 800K. 

 

Could be combined in any way. For examples -- 200K annual income plus 600K in Thai bank account OR 200K in Thai bank account plus 600K annual income.

Thanks - you've just confirmed for me the baht has to hit 15 to the AUD, and even then I'd be OK.

[Kimber]

2 hours ago, Scooby and Puppy said:

I have heard..wink wink...that if you pick one just before their shift is about to end, then arrange to meet them after, and you can give them a little more. She makes a bit more, and you save a bit more..win/win.

I don’t know myself, but heard it from a ‘friend’. It works for m...er, him.

"Their shift"  usually ends when they get you to Bar fine them. 

Unless you want to hang around until 4.00 am then the TG is too drunk /tired to be of much value to you. 

 

Seriously, if you can't make the BF decision before 9-10 pm night time you've missed the boat. 

 

The choice is yours really, do you want to booze along into the wee hours, or catch an early enough BF so you can enjoy a full night of sex action ?  

[impulse]

2 hours ago, Kimber said:

"Their shift"  usually ends when they get you to Bar fine them. 

Unless you want to hang around until 4.00 am then the TG is too drunk /tired to be of much value to you. 

 

Seriously, if you can't make the BF decision before 9-10 pm night time you've missed the boat. 

 

The choice is yours really, do you want to booze along into the wee hours, or catch an early enough BF so you can enjoy a full night of sex action ?  

 

Not to mention, all the good ones are gone long before the wee hours. 

 

The consolation is that a 4 at 9:00 PM turns into an 8 after another dozen beers, and among the diminished choices at closing time.

 

[mstevens]

On 3/22/2018 at 9:48 PM, Kimber said:

My own dual pensions allow me just over 100,000 baht at the 24 baht per Aussie $, as a monthly lifestyle support,  and no way would I draw from my reserve funds just to live in LoS.

IMO a 4 baht margin is still to close for comfort,  yeah I know many of you will sneer and state that 100,000 monthly is easy going,  but my point is that's where I want to be consistently if I was ever to relocate to Thailand.

 

So at this point in time I'll continue to holiday 2 to 3 times yearly in LoS,  while monitoring the situation.

This makes perfect sense financially and is easy to understand.  I used to think similar to this with financial issues at the forefront of my consideration.  However, what I have realised over the period of my association with Thailand which goes back roughly 20 years is that the country is changing and in terms of a retirement destination, the changes are not for the better.  I just don't find Thailand nearly as welcoming as before and in some ways I regret not enjoying it more when it was easier to enjoy life there.  So while I absolutely get the financial aspect, I also worry that the country I once loved is changing in to a country I no longer feel anything like the same place I once had a strong affinity for.

[Kimber]

2 hours ago, mstevens said:

This makes perfect sense financially and is easy to understand.  I used to think similar to this with financial issues at the forefront of my consideration.  However, what I have realised over the period of my association with Thailand which goes back roughly 20 years is that the country is changing and in terms of a retirement destination, the changes are not for the better.  I just don't find Thailand nearly as welcoming as before and in some ways I regret not enjoying it more when it was easier to enjoy life there.  So while I absolutely get the financial aspect, I also worry that the country I once loved is changing in to a country I no longer feel anything like the same place I once had a strong affinity for.

Agreed,  IMO the golden era for farang ex-pats has well and truly passed. 

 

[MaeJoMTB]

15 hours ago, Scooby and Puppy said:

I have heard..wink wink...that if you pick one just before their shift is about to end, then arrange to meet them after, and you can give them a little more. She makes a bit more, and you save a bit more..win/win.

I don’t know myself, but heard it from a ‘friend’. It works for m...er, him.

Arrange to meet them in the afternoon before their shift starts.

They have more energy and you have less chance of sloppy seconds.

[MaeJoMTB]

13 hours ago, Kimber said:

The choice is yours really, do you want to booze along into the wee hours, or catch an early enough BF so you can enjoy a full night of sex action ?  

These days I always choose the 'booze' option.

[starky]

17 hours ago, Lacessit said:

None taken - I'm quite happy with anywhere between 25 - 27 baht on the AUD.

If you look at Australia's current account deficit, agriculture exports to Asia are steadily increasing. And there's a lot of natural gas coming on stream, which means less import expenditure on capital equipment, and more energy exports. So I'm reasonably optimistic without saying I can predict the exchange rate at any time.

All true of course but many would admit that the conditions that caused us to get that better than 30 baht plus rate were rare. Our amazing above parity exchange rate with Us$ and the mining and resource boom of that time won't be repeated. Resources are finite. I work offshore. It's LNG that keeps my family fed but all these projects produce no gas for us. They pay bottom dollar for it and also, as you would know zero tax as well. Unless the Aus government mans up and starts doing what the other major gas exporters do we are screwed. Add to that increasing and aging population the fact that we basically produce nothing anymore and that a lot of our agriculture is now being taken over by foreign concerns, to me says Australias economy longer term is going only in one direction. Though I am no economist or Forex expert I just buy baht when I have to like everyone else. Lol

[Thaiwrath]

5 hours ago, Kimber said:

Agreed,  IMO the golden era for farang ex-pats has well and truly passed. 

 

The golden era in my home country, England, passed well before it did in Thailand.

For me, Thailand is the better option, by a country mile 

[sanemax]

4 hours ago, MaeJoMTB said:

Arrange to meet them in the afternoon before their shift starts.

They have more energy and you have less chance of sloppy seconds.

Dont you use a condom ?