Thailand should welcome retirees

[Brunolem]

There has been a lot of noise lately about the requirements for foreigners wishing to stay in Thailand with a retirement extension. 

 

As usual, Thailand appears to be rowing against the tide. 

 

Every country and its neighbor is rolling the red carpet to attract retirees (see Portugal for example) while Thailand is setting traps to repel them. 

 

Of course, there are the usual "economists" who brandish GDP figures and tourist numbers, in order to "prove" that foreign retirees don't matter. 

 

Yet, the fact is that retirees do matter, and that large aggregate numbers don't prove anything. 

 

In today's world where wealth is hyper concentrated in the hands of a few so-called oligarchs, GDP and national aggregates are meaningless. 

 

In the US, three guys own as much as the lower half of the population, and in Thailand, which was recently ranked most inequal country in the world, things are not better. 

 

Foreign retirees take very little from their host country (sea and sun are freely available) and share everything they have, which cannot be said about oligarchs. 

 

A Western retiree in a village probably brings much more to the locals than 10 million Chinese tourists, whose bulk of the money never reaches the Thai population. 

 

Retirees act like a natural fertilizer on a small scale, whereas mass tourism acts more like a tsunami, leaving mostly destruction in its wake, including destruction of the local culture. 

 

The requirements asked to retirees should be simplified, instead of made more difficult. 

 

Why would they need the equivalent of 2,000 USD per month, when more than a third of working Americans don't even earn that amount? 

 

Isn't Thailand supposed to be much cheaper than the US, on average? 

 

A more appropriate request would be to make it mandatory to have, say 50,000 baht in a one year saving account, together with a health insurance based on the costs of a public hospital. 

 

After all, most retirees don't go to the equivalent of the Bumrumgrad in their own country... why should it be different in Thailand, unless they wish to voluntarily insure themselves for it. 

 

The 50,000 baht would be there to cover the cost of their repatriation, if needed. 

 

Once a year, they would show up at the immigration office with their bank book and their renewed insurance, in order to get a new stamp, or get on a plane if they didn't follow the rules... 

[Psimbo]

How dare you present a common sense solution- this is Thailand. ????

[Puchaiyank]

I had a dream that Thailand would treat retirees fairly...then I woke up and found I needed to go back to work to meet ever increasing immigration demands...????

[Liverpudlian]

Brown envelopes mates, nuff said wink wink.

[Pravda]

So many tears over a petty financial requirement.

[marcusarelus]

10 minutes ago, Liverpudlian said:

Brown envelopes mates, nuff said wink wink.

Daft.  You must not have read the most recent rules. It is because of the brown envelopes that all the recent hassle has started.  BJ is trying to get rid of the brown envelopes to his people without firing them ergo retirees suffer and pay the price because of the brown envelopes not because they want brown envelopes but because they want to rid the system of the brown envelopes.  So you are 100% in error nuff said wink wink.

Edited February 1, 2019 by marcusarelus

[jackdd]

42 minutes ago, Brunolem said:

Why would they need the equivalent of 2,000 USD per month, when more than a third of working Americans don't even earn that amount? 

When you work you don't have time to spend money, so when you don't work you need more money ????

[Lungstib]

44 minutes ago, Brunolem said:

Foreign retirees take very little from their host country

I agree with that. Lot of sense elsewhere in the letter. Your money all comes from overseas and is spent here on a multitude of services which doesn't have to trickle down, it hits the local spots. I honestly doubt many leave debts in hospitals or anywhere else. I am not retired but married. 25 years of overseas (cant work in Thailand) pay has all gone in this country. Much to pay for things my 'family' couldn't afford like hospital bills, house extensions, roofs, sacks of rice and funeral expenses. All gone to local shops and workers. Now if I dont have a big enough bank account I'm in danger of being sent to a country I haven't been to for 10 years. Ludicrous. 

[Brunolem]

6 minutes ago, jackdd said:

When you work you don't have time to spend money, so when you don't work you need more money ????

Older persons are less inclined to engage in big items purchases than younger ones. 

 

They need more money for small things, such as drinks on the beach, or a new Hawaiian shirt, but that's nothing compared with the amount required for the latest 60" flat screen, or a marble countertop for the kitchen, not to mention the education of the children. 

 

Many retirees can live a pleasant life in Thailand for much less than 65,000 baht per month. 

 

In my village, I wouldn't even know how to spend such an amount... 

 

[onera1961]

Ok, now TVF is he a place to publish people's wish list of could, should, would. 

[sometime]

1 hour ago, jackdd said:

When you work you don't have time to spend money, so when you don't work you need more money ????

Sorry but a load of tosh, most of our time is spent in the garden not the bars.

[Neeranam]

2 hours ago, Brunolem said:

Isn't Thailand supposed to be much cheaper than the US, on average? 

Yes, there are 3000 homeless people in Thailand compared to 550,000 in the USA.

 

 

[ocddave]

Well you could always move to Sicily Italy and purchase a retirement home for 1 euro! ????  

 

https://edition.cnn.com/travel/article/one-dollar-home-sambuca-sicily-italy/index.html

 

[Neeranam]

2 hours ago, Brunolem said:

 

A more appropriate request would be to make it mandatory to have, say 50,000 baht in a one year saving account, together with a health insurance based on the costs of a public hospital. 

Yet you want a foreign retiree to invest over 16,000,000 baht to live in your country. Not very fair is it?

[ocddave]

2 minutes ago, Neeranam said:

Yet you want a foreign retiree to invest over 16,000,000 baht to live in your country. Not very fair is it?

To be fair, the cost of living in his country is higher, so obviously the requirements would be higher as well.

[Neeranam]

9 minutes ago, ocddave said:

To be fair, the cost of living in his country is higher, so obviously the requirements would be higher as well.

The cost of living in Bangkok is only 43% lower than in New York. Yet, he thinks a retiree in New York should pay 35,000% more than in Bangkok.

Edited February 1, 2019 by Neeranam

[ocddave]

Just now, Neeranam said:

The cost of living in Bangkok is only 43% lower than in New York.

Not even close!!!!! A closet in New York would cost almost $2000 a month in rent, not sure where you got your numbers. 

[Kwasaki]

Thailand does welcome retired people as long as they have 800,000 baht and health insurance. 

Or if your married 400,000 baht that's the way it is. 

[Neeranam]

4 hours ago, Liverpudlian said:

Brown envelopes mates, nuff said wink wink.

Quite right, mate. Seen it all before.

When in Rome..... Politely ask if there is anything you can possibly do to get around this problem, and they will give you a figure, directly linked to how gullible they think you look/act.

Corruption will always be here.

 

[BritManToo]

1 hour ago, Kwasaki said:

Thailand does welcome retired people as long as they have 800,000 baht and health insurance. 

Or if your married 400,000 baht that's the way it is. 

Or 25k for a visa agent.

[bkk6060]

I hope most of you eventually realize you are not important to this place.  The people here and government could care less about you. Talk to the right people and they will tell you this to your face.

But, it is not unlike many countries where foreigners are not truly wanted or looked upon favorably.

If many leave, there would be a short adjust ment period but then things and people would move on like they always do.

This country will not fold or cry if you go.

Sorry..  

 

[ubonjoe]

1 hour ago, Kwasaki said:

Thailand does welcome retired people as long as they have 800,000 baht and health insurance. 

Health insurance is not required to apply for a extension of stay at immigration or to apply for OA visa at a embassy or official consulate in your home country. It is only required for a non-ox visa in your home country.

[Sprog71]

BKK6060

Totally agree.

You should not invest more in this country than you are prepared to lose.

When you are too old to be insured you should be able to finance your own medical care.

 

[jacko45k]

15 hours ago, Pravda said:

So many tears over a petty financial requirement.

It is not petty to many. It seems to be 800k sitting idle and a further need to find money to live off.

[Old Croc]

15 minutes ago, jacko45k said:

15 hours ago, Pravda said:

,So many tears over a petty financial requirement.

It is not petty to many. It seems to be 800k sitting idle and a further need to find money to live off.

I would think there are many, many more, who, before moving here understood that the visa conditions required 800k in the bank, and didn't consider that that money would also double as day to day living expenses.

In fact I don't understand how it can be used for both things. After meeting that condition, you still need to import money, over and above,  to live on.

If the 800k is used for expenses it must be replenished anyway. That is, unless it doesn't actually exist and is temporarily conjured up for the once-a-year purpose. To pay agents a fee to temporarily lend you that money is a scam, and I can understand why Immigration want to end this form of cheating.

I also don't like my money sitting idle in a bank, but know it is still mine, and regard it as an emergency fund if ever needed.

Virtually all countries place financial requirements on people wanting to live there long term, for good reason. Wide open borders attract criminals, beggars, scammers and other scum of the earth. I've had more Westerners trying to rip me off here than Thais, not talking small money.

As someone who understood the requirements, and made the effort to meet them, I don't have a great deal of sympathy for those who didn't. Although, I do get the anguish of people with families who have made their life in Thailand for many years and now find they may be in trouble. Perhaps there should be some sort of case by case exemption for these people.   

 

 

[jacko45k]

9 minutes ago, Old Croc said:

I would think there are many, many more, who, before moving here understood that the visa conditions required 800k in the bank, and didn't consider that that money would also double as day to day living expenses.

Or considered that income could be accumulated in their home country while they comfortably lived off the  800k for 9 months in Thailand, and had money in their home country if they visited. 

[jacko45k]

12 minutes ago, Old Croc said:

I can understand why Immigration want to end this form of cheating.

You may be deluded, I believe they want to force it!

[Suradit69]

16 hours ago, Psimbo said:

How dare you present a common sense solution- this is Thailand. ????

Gee what an original comment from someone who obviously has an abundance of common sense.

[Suradit69]

16 hours ago, Brunolem said:

 

Every country and its neighbor is rolling the red carpet to attract retirees (see Portugal for example) while Thailand is setting traps to repel them. 

Great example. There's a reason why Portugal belongs to an economic grouping called the PIGS (Portugal, Italy, Greece, Spain). They're all in intensive care and red carpets for retirees isn't a solution.

 

if you have sufficient money to live in Thailand, there's nothing to discourage you. If you're one of those who claims he can manage on baht 12,000 a month, you're not doing much for the Thai economy. Maybe you can help prop up some crumbling Southern European country.

Edited February 2, 2019 by Suradit69

[Old Croc]

12 minutes ago, jacko45k said:

Or considered that income could be accumulated in their home country while they comfortably lived off the  800k for 9 months in Thailand, and had money in their home country if they visited. 

You don't seem to understand, visa requirements relate to the country issuing the visa. The Thai economy gains nothing from money held elsewhere.

Incidentally,  I have large reserves in my home country, but don't have difficulty understanding that the visa condition require the 800k has to be in Thailand.