How Much Money (banked and income) is Now Needed to Retire to Thailand

[Pilotman]

This has probably been done to death in earlier posts, but it may help others to debate how much is sensibly needed to retire to Thailand, in the light of recent visa changes and possibly new ones in the pipeline.  Obviously, any figures come with many caveats, as life style in retirement and ongoing commitments play a big part.  But all things being equal (and they are not of course), my (wild) guess, that the minimum required before contemplating moving here is:

 

Banked in Thailand and the home country - circa £50,000 (US$ 65,500)

Yearly income, post tax  -  £38,000 (US$ 50,000)

 

Lots of assumptions in my figures. I haven't taken into account buying a car, health cover, buying a house/condo, expensive hobbies, travel/holidays. I am also assuming using the 800K in a Thai bank for Extensions. 

 

Interested to hear the views of other forum member's , as this may be helpful for others planning to come here in the near future.  

 

 

[Puchaiyank]

You appear to be sparking a debate....????

Edited February 2, 2019 by Puchaiyank
Yes

[KhunBENQ]

38 minutes ago, Pilotman said:

Banked in Thailand and the home country - circa £50,000 (US$ 65,500)

Yearly income, post tax  -  £38,000 (US$ 50,000)

Let me roughly translate to Thai Baht.

Banked 2 million Baht.

Yearly income 1.565 million Baht (130'000 per month).

 

With that high income I would not bother about the 800k and the banked money is sufficient.

I needed more in the bank in 2011 as I quit without income. Pension starts next year and just around the 65k Baht.

But as always, it depends on lifestyle, spending habits.

 

Edited February 2, 2019 by KhunBENQ

[Pilotman]

2 minutes ago, Puchaiyank said:

You appear to have more than enough to maintain a retirement visa in Thailand.  Would advise renting for awhile and explore different areas of the country before sinking money into real estate. 

I think that you misunderstand my post. I wasn't asking, I live here already and I am well settled.  I was sparking a debate for the benefit of others who are yet to relocate. 

[wgdanson]

Yearly income £38,000 (THB 1556000 = 130k a month) before house, car, health insurance etc. What the hell are you buying? Half of that is easliy adequate, and what is required by immigration to get a retirement extension. And with that you could include about 5k for health insurance, 10k for rent. Car is up to you.

 

2 Million Baht in the bank is not really needed. Half that is fine.

 

You are trying to start a debate and start it with wild guesses and assumtions. And yes it has been done to death too many times before. Why not start something interesting.

 

I am out of this one.