Retirement ext financial requirements increase

[marcusarelus]

19 hours ago, Hoppyone said:

Good point agree fully can live comfortably on 50,000, if not needing to play the bars ect

If you add up all the money Western men who have been scammed by farm girls and families in the sticks as opposed to Western men who have been scammed by bar girls in the city and divide it by the total of Western men in Thailand I think the 800,000 is probably on the low side. 

Edited August 27, 2018 by marcusarelus

[Mike Teavee]

5 minutes ago, marcusarelus said:

There are threads about going back 10 years.  Brits are still whinging about the ease of being an American or Aussie for immigration purposes. 

No whinging from this Brit, I found the process to be absolutely painless & did it all via email from Singapore (took about a week between applying & the letter arriving at my address in Bangkok - Don't know if it would have been more difficult if I'd have used my SG address)

[marcusarelus]

3 minutes ago, Mike Teavee said:

No whinging from this Brit, I found the process to be absolutely painless & did it all via email from Singapore (took about a week between applying & the letter arriving at my address in Bangkok - Don't know if it would have been more difficult if I'd have used my SG address)

You got a Thai retirement extension via email from Singapore?  Wow.

[Mike Teavee]

11 minutes ago, marcusarelus said:

You got a Thai retirement extension via email from Singapore?  Wow.

No, we were talking about the Proof of Income letter from the British Embassy

 

I'm on my 1st Non-Imm O which I got in July from Penang using the 800K in the bank route, however I was advised that Penang like to see some proof of income as well as the 800K, hence I got the POI letter.

 

Fri: Flew to Bangkok, updated my bank passbook, got a letter from the Bank proving funds & picked up my POI Letter

Sun : Flew to Penang, watched the World Cup 

Mon: Banana Visa put the application in

Tue: Flew back to Singapore with a shiny new Non-IMM O (multi) 

 

As I said, getting the POI letter was very painless.

Edited August 27, 2018 by Mike Teavee

[KiChakayan]

22 minutes ago, marcusarelus said:

If you add up all the money Western men who have been scammed by farm girls and families in the sticks as opposed to Western men who have been scammed by bar girls in the city and divide it by the total of Western men in Thailand I think the 800,000 is probably on the low side. 

Well.. The cost of maintaining my new family the 6 years I was stayed in Geneva plus the cost of establishing our home in Buriram was more like 10 000 000 Bahts. But so far, after 10 years, no regrets. And 10 000 000 divided by 10 is 1 000 000 or about 27000 Euros, that's what I used to spend for holidays in a year in my previous life.

[Henryford]

100,000 baht a month at current exchange rates is 2,400 GBP a month. If that relates to net income you would need a gross income of @3,000 GBP a month. I can't see many pensioners having that sort of pension.

[Tanoshi]

3 hours ago, Mike Teavee said:

I think you may be getting mixed up with the US Embassy, as the British Embassy do need to see (& far as I can tell check) proof of income

Not getting confused at all, I'm also a Brit.

I do a few online applications on behalf of some of the more elderly British expats and I notice some glaring errors between the documents they provide as proof and what they enter on the form.

The POI letters always state the amount submitted on the handwritten application form.

[marcusarelus]

2 hours ago, Henryford said:

100,000 baht a month at current exchange rates is 2,400 GBP a month. If that relates to net income you would need a gross income of @3,000 GBP a month. I can't see many pensioners having that sort of pension.

I know a lot of expats with that kind of pension.  SS and military and corporate.  The guys who live in Thailand for tax purposes are many. 

[bkk6060]

2 hours ago, Henryford said:

100,000 baht a month at current exchange rates is 2,400 GBP a month. If that relates to net income you would need a gross income of @3,000 GBP a month. I can't see many pensioners having that sort of pension.

How do they do it?

I could not live here on that low money.

 

[billd766]

3 hours ago, Henryford said:

100,000 baht a month at current exchange rates is 2,400 GBP a month. If that relates to net income you would need a gross income of @3,000 GBP a month. I can't see many pensioners having that sort of pension.

 

Please try not to confuse people living on only one pension with those who have more than one pension.

 

Also people may have other sources of income or investments in other countries.

[billd766]

14 minutes ago, bkk6060 said:

How do they do it?

I could not live here on that low money.

 

 

Perhaps you could not but many others can and do live on less than 100,000 per month.

 

Their wives may own land and property, their transport bought and paid for. Children finished school and Uni.

 

No need to go out to eat every night or drink expensive whisky etc, no need to visit bars etc.

 

It is so easy to do, but it depends on you to set the bar for what you want to spend.

[Get Real]

On 7/25/2018 at 1:00 PM, theguyfromanotherforum said:

 

Why?

Quite easy. A family will normally need more money to live, than a single person on retirement.

[KiChakayan]

7 minutes ago, Get Real said:

Quite easy. A family will normally need more money to live, than a single person on retirement.

Yes you are absolutely right. There is a reform in the pipeline, the will increase the financial requirement  for the marriage extension to 3000000 Bahts a months. If no met they'll deport the Farang, euthanise the kids, and sell the wife to a Soi 6 bar owner.

Sorry for the sarcasm...

[Joe Mcseismic]

.......all these posts over an unsubstantiated rumour. Amazing.

[Henryford]

18 minutes ago, Joe Mcseismic said:

.......all these posts over an unsubstantiated rumour. Amazing.

It may be unsubstantiated but an increase is bound to come soon. The 800k has been there for many years. The 100k a month is more than likely. With the drop in the exchange rates though it equates to more like 130k.

[JackThompson]

On 8/11/2018 at 12:13 PM, quadperfect said:

On 7/25/2018 at 5:14 PM, Happy enough said:

there was an italian bloke on here the other day who said he gets paid 18k a month. i can only assume he had accommodation and food for free. how the hell can someone get by on 18k. i know some do but i'd rather not live in thailand on that kind of money, it's not worth it. soi food and water, great fun

 

100,000 a month is a much more realistic amount

Fan-Room Rent 3K / mo (or less)
Utilities (no air-con) 1K / mo
Eat at Home - 5K / mo (or less)
Baht-Bus to/from work - <500 Baht / mo
Internet 4G 1-Mbps / mo - 300 Baht / mo

Health Insurance included with his Thai job - free (doc-visits 30 Baht)

Total so far = 9800 Baht / mo

 

The other 6200 Baht / mo he can spend on beer or whatever.  At 50-Baht per beer (many bars), that is plenty for a couple nights out per-week, like most subsist on working back in their passport-country.

 

I have met single spendthrifts - who have plenty of money in the bank, btw - that choose to live like the 16K/mo guy, or close to it. 

 

8 hours ago, Henryford said:

It may be unsubstantiated but an increase is bound to come soon. The 800k has been there for many years. The 100k a month is more than likely. With the drop in the exchange rates though it equates to more like 130k.

As to the policy of the Thai govt:

The "Italian bloke" in the example above was working, so his money was being recycled in the Thai economy.  But a retiree living on a smaller-amount is taking that money from abroad and enriching Thailand with it.  It's all upside for Thailand. 

 

I cannot find a rational reason why anyone would want people with foreign-sourced income to leave - even if it is a lower income - as long as they are not panhandling in the streets or otherwise being a public-nusance.  Therefore, there is no reason to set the amount higher, or even set it as high as the current level. 

 

40K Baht is plenty, and 20K is survivable.  Even less would work out in the sticks, where small (in city-terms) contributions to the local shops and markets have even more relative value to the Thai recipients.