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Even at 38 baht to the pound most retirees won’t and cannot leave Thailand


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Posted

Even at 38 baht to the pound most retirees won’t and cannot leave Thailand

By Dan Cheeseman

 

leave-thailand.jpg?resize=800,500&ssl=1

 

The UK pound continues to drop against the Thai baht and at time of writing it is floating around the 42 baht to the UK pound.

 

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It was not long ago that Brits enjoyed a healthy 70 baht to the pound if you go back a 8 or 9 years ago, but since then things have gone from bad to worse.

 

According to pensionbee.com the average UK pension is £403 a week, this drops to £369 after tax. At todays price that is 62,000 baht a month, back when it was 70 baht to the pound retirees would have had 103,320 baht per month so the drop in income has been huge. In fact I would go as far to say that it has been devastating.

 

Many Retirees say 40 baht to the Pound is their breaking point, but is it?

 

Many retired expats comment on forums like Thaivisa.com that the breaking point for them is 40 baht to the pound, which if that is the case means we could see many British expats soon up sticks and leave Thailand. But, would they? What we don’t know is how sticky Thailand as a retiree destination is and there are other factors at play that I discuss later. I would suspect a fall any further will not attract more retirees but for those already here maybe home is still home whatever their budget.

 

For curiosity I wanted to run a scenario at a 38 baht to the UK pound and crunch some numbers around that point. To me it looks fairly tight. The lowest UK pensions come from the North East of England where they get on average, after tax, £269 a week. So let’s say £1,069 a month which is 45,000 baht to live on in Thailand.

 

Full story: https://danaboutthailand.com/2018/08/17/even-at-38-baht-to-the-pound-most-retirees-wont-and-cannot-leave-thailand/

 

-- DAN ABOUT THAILAND 2018-2018-08-17

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Posted (edited)

If I was in this situation I'd have a thorough look at some European countries, Portugal in particular. But only for guys without a family. And the option may go after Brexit.

Edited by KiChakayan
Posted
1 minute ago, Henryford said:

 

Once we are free of the shackles of the Evil Empire Britain and the Pound will flourish.

Right.. ? 

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Posted
1 hour ago, robblok said:

I wonder how many of the Brexit supporters (expats) would still support Brexit at 38 to the pound.

Forget what it was before Brexit 49 I think.

Posted
1 hour ago, Henryford said:

As the Pound drops though i just spend less and less on bars and hookers.

And stop wasting the bit I have left !

Posted
1 hour ago, Joinaman said:

lowest pension of 269 pounds ?

most people i know, me included, get the state pension of 164 pounds

 

Yeah, I wondered where that figure came from, it's certainly not right! Maybe the person he was talking to had a small private pension?

Posted
27 minutes ago, wgdanson said:

So how do you get your Retirement Extension?

Through an agency or get married and get a 1 year marriage extension.

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