Thinking About Retirement in Thailand? Better Have 1.6 Million Baht in the Bank.

[tandor]

2 hours ago, PGSan said:

Heh, you mean there are none of us elsewhere in the world ? I never knew that! 

 

Speaking as a recent recruit to this supergroup, both in my self and according to the medical data, at 70 I still have a long way to go to even my Best Before date.  Far healthier than I have been for most if the last 30 years.  Mean life expectancy for 70-year olds with my background seems to be around 15-17 years so I have a lot of time for expiring in a couple of decades time.

 

Of course this gives rise to the problem of finding the income to keep up the superman lifestyle for another 20 years or more, but now I am healthy enough to not worry too much about that, so all good.

 

Of course, Khun Pravda, you are welcome to stamp yourself with whatever Expiry Date you wish, but please keep your biased hands off the date stamps of your superior, healthier and wiser elders.????

 

For many life begins at 70, provided they can still afford to live it for another 20 years.  PG  XX ????

..i dont think their capes flutter much these days and a single storey bungalow is getting a bit much to leap over.

[55Jay]

18 hours ago, sammieuk1 said:

I also would counsel anyone moving here full-time to fly on bye????

So would I, and I have at least once in recent years.

[2tall]

they just increased it.... with the new rule requiring minimum balance before and now after extensions. Its just another way of increasing the required cash/spending in thailand.

[Alpine Lake]

Marriage is going to cost you a bundle more in the long run...????

[jacquesslabbert]

There is nothing wrong with this. It is called cost of living. Thailand is still one of the most cheapest countries for retirement for foreigners. Try going to the USA, UK or Australia. Boy oh boy ..... they try and keep out any foreigners that might become a liability to them. So if you want to retire in Thailand you bloody damn well must make sure that you can sustain yourself. Otherwise stay in your home country. Period.

[jacquesslabbert]

4 hours ago, crazykopite said:

If that were to happen I would be relocating to a neighbouring country , it’s bad enough having 800,000 tied up in a Thai Bank just to satisfy immigration. Last week I received a text message from my SCB bank  ( I use two separate Thai banks ) informing me that the branch had closed down and that my account had now been transferred to another SCB bank ,they didn’t even give me an opportunity to close my account they just took it that transferring my account was okay so I now have to drive 15kms more to my new allocated SCB bank even though there was one closer . Thank goodness I do online banking but there will be times when I have to go to for example get my confirmation letter of income for the IMO ☹️ Have to say living in Thailand is getting more of a pain in the @$$

oh wow. 15km is such a very very long way. Living in Thailand getting a pain in the @ss? Try retiring in the USA, UK or Australia. 

[jacquesslabbert]

I find it so amusing how foreigners in another country starts complaining and moaning about the rules of that country. If this new changes really bother you then just go back to your own country or find another country where the foreigner can air his views and demands. After all why leave your country to retire elsewhere? Political difficulties? What a rude awakening it must be for the poor foreigner. Every country in this mad world has its ups and downs.

6 minutes ago, jacquesslabbert said:

There is nothing wrong with this. It is called cost of living. Thailand is still one of the most cheapest countries for retirement for foreigners. Try going to the USA, UK or Australia. Boy oh boy ..... they try and keep out any foreigners that might become a liability to them. So if you want to retire in Thailand you bloody damn well must make sure that you can sustain yourself. Otherwise stay in your home country. Period.

 

[UKresonant]

Why only think of retirement as a single country thing. Dad (at 85), when asked (in Pattaya) why not get a house in Thailand and stay here, "because it would become routine" was his answer, but he does spend 48% of his time here in Thailand.

 

That leaves him 27% potentially for other destinations, and 25% at base camp without complication.

Edited March 5, 2019 by johnwf1963

[Damrongsak]

15 hours ago, Kwasaki said:

Get married. 

No!  That could take years and cost millions of Baht.

 

[baansgr]

11 hours ago, 4MyEgo said:

Irregardless is they double the rate for either the marriage extension or retirement extension from 400,000 to 800,000 or 800,000 to 1.600,000 baht farangs in my opinion should not even think about retiring or moving to Thailand unless they have either a monthly income of double what is the requirement for a marriage extension and or a retirement extension, i.e. 40,000 baht to 80,000 baht per month, or 65,000 to 130,000 baht per month.

 

I mean let's face it, you can't expect to sponge off the Thai public hospitals as a Thai, i.e. unless you work and pay taxes here or have done so in the past and obtained Thai Citizenship. I mean just think about it, how would you feel if a foreigner did this back in your 1st world country, not right and sure they do, but two wrongs don't make a right.

 

Fact of the matter is if you cannot afford to pay for private health cover here in Thailand, i.e. if you are eligible, e.g. under the entry age to enter most private hospital policies, around 60-65 years of age, you shouldn't even be here, in particular that applies to those older, no offence, life's beach. One needs a minimum of 10,000 baht per month for cover so do the math, and that is my reason for stating the above, so for those who have an income of 80,000 baht per month for marriage extension and 130,000 for retirement extension, your fine, for the others, well you made your bed, now you lay in it, calling a spade a spade, that's all.

 

For those who worked their buns off, saved, invested and are now reaping the rewards, give yourself a pat on the back, because you wouldn't even be bothered with the baht dropping further, because as we all know, what goes down, must comeback up.

 

For those who want to have a go, yeh well the truth hurts oi !

Some people did work hard and save but maybe got ripped off by their tirak or another business adventure, some lost their pensions through no fault of their own and various other reasons out of their control. Shouldnt even be here hey, well karma does come around, lets see.

[Kwasaki]

58 minutes ago, Damrongsak said:

No!  That could take years and cost millions of Baht.

 

Or costs millions more being single in Thailand.

[4MyEgo]

7 hours ago, baansgr said:

Some people did work hard and save but maybe got ripped off by their tirak or another business adventure, some lost their pensions through no fault of their own and various other reasons out of their control. Shouldnt even be here hey, well karma does come around, lets see.

Tis a cruel world.

 

1) Love = finances separate = only invest as much as prepared to lose = 10% of one's worth = 90% fall back position

 

Businesses = risk, especially with partnerships = Never put all of your eggs in one basket.

 

One hopes those that did fall, can at least pick up the pieces and perhaps start again, as difficult as it may appear, as long as you have your health, you can start climbing that mountain that awaits you, as challenging as it may appear. 

 

[brianthainess]

On 3/4/2019 at 8:25 PM, RJRS1301 said:

Got all that, and (considerably more)but the problem of opening a Thai bank account without a 12 mnth lease is proving difficult. (have 6 month lease, as I wanted flexibility to move+  Income of 60, 000 bht per month from pension.

I was not informed when granted visa that funds had to be held in Thai Bank, do not feel comfortable transferring funds into a Thai account with all the changes, and have been caught before when a regime change occurred elsewhere and accounts for foreigners seized, and not ever returned

.

 

 

Go to the "Yellow" bank and open an account.

[brianthainess]

21 hours ago, 4MyEgo said:

Irregardless is they double the rate for either the marriage extension or retirement extension from 400,000 to 800,000 or 800,000 to 1.600,000 baht farangs in my opinion should not even think about retiring or moving to Thailand unless they have either a monthly income of double what is the requirement for a marriage extension and or a retirement extension, i.e. 40,000 baht to 80,000 baht per month, or 65,000 to 130,000 baht per month.

 

I mean let's face it, you can't expect to sponge off the Thai public hospitals as a Thai, i.e. unless you work and pay taxes here or have done so in the past and obtained Thai Citizenship. I mean just think about it, how would you feel if a foreigner did this back in your 1st world country, not right and sure they do, but two wrongs don't make a right.

 

Fact of the matter is if you cannot afford to pay for private health cover here in Thailand, i.e. if you are eligible, e.g. under the entry age to enter most private hospital policies, around 60-65 years of age, you shouldn't even be here, in particular that applies to those older, no offence, life's beach. One needs a minimum of 10,000 baht per month for cover so do the math, and that is my reason for stating the above, so for those who have an income of 80,000 baht per month for marriage extension and 130,000 for retirement extension, your fine, for the others, well you made your bed, now you lay in it, calling a spade a spade, that's all.

 

For those who worked their buns off, saved, invested and are now reaping the rewards, give yourself a pat on the back, because you wouldn't even be bothered with the baht dropping further, because as we all know, what goes down, must comeback up.

 

For those who want to have a go, yeh well the truth hurts oi !

A: It is not possible to "SPONGE" off the Thai Govt Hospitals  where did you get this drivel from, they even ask for money upfront in case you die on the table, upward of 10,000 bt. B; Utter balderdash i can live here comfortably on 30,000 a month, and yes i did work all my life even before i left school. i don't need a fancy lifestyle and never have, that's how i saved my money,only brought something when i had the money to pay cash, you come over as a snob. 

[4MyEgo]

9 minutes ago, brianthainess said:

A: It is not possible to "SPONGE" off the Thai Govt Hospitals  where did you get this drivel from, they even ask for money upfront in case you die on the table, upward of 10,000 bt. B; Utter balderdash i can live here comfortably on 30,000 a month, and yes i did work all my life even before i left school. i don't need a fancy lifestyle and never have, that's how i saved my money,only brought something when i had the money to pay cash, you come over as a snob. 

I know many Franangs who have had operations in Thai Government Hospitals and paid very little, same same what Thai's pay, drivel (not) !

 

30,000 Baht per month comfortably, I doubt it, living on a fine line, yes, 30,000 baht per month if your eating less than 3 meals, per day, farang food that is, or eating Thai food which is not nutritional, rent, private hospital cover, car, bike, insurances, holidays, entertainment, clothing, furniture, etc etc. 

 

Do yourself a favour and write every baht you spend every day and on what you spend it on and come back to me 12 months later, bet you it's more than 30,000 baht per month, must include the above, otherwise your not living comfortably.

 

Snob, definitely not, I know where I came from, what I have, how to live comfortably and keep making money while in retirement so as to sustain a comfortable lifestyle. 

 

My budget for the family, wife and 4 kids is 60,000 baht per month, in reality, writing down what is spent everyday for 12 months tells me it's more like 100,000 baht to live comfortably, 60,000 baht per month would be nice, but in reality if you want a comfortable life, you have to spend more.

 

If you can do it on 30,000 baht per month, good luck to you.

[BritManToo]

24 minutes ago, 4MyEgo said:

30,000 Baht per month comfortably, I doubt it, living on a fine line, yes, 30,000 baht per month if your eating less than 3 meals, per day, farang food that is, or eating Thai food which is not nutritional, rent, private hospital cover, car, bike, insurances, holidays, entertainment, clothing, furniture, etc etc. 

I have a family of four living off 40k/month (me, 7yo, 20yo, gf). Including her uni fees/expenses and his school.

No insurance, they are all Thai and covered as citizens, and I am happy to die if I ever get sick.

I have 3-4 local foreign holidays/year (China, Vietnam, Laos, Cambodia, Philippines) included in that 40k/month.

Watching a 60" tv and using a 100/50MB fibre. Transport 1 pickup (battered) , 3 scooters, 4 bicycles.

 

Entertainment, tv, music, movies, books (all included in the 631bht fibre fee), hiked 12Km in the mountains yesterday at Goat Mountain (just past san Kampaeng), sometimes I cycle ....... cost 10bht for the scooter petrol. Got a bit drunk in the afternoon on Mojitos, about 20bht, grow my own mint, sugar, limes and soda doesn't cost much. Played Gears of war 3 (co-op) on the xbox 360 with my 7yo for a couple of hours.

 

I eat home cooked British meals every day ......

Pizza costs about 30bht to make at home, potatoes are 35bht/Kg, pork steaks 79bht for two (Tesco lotus), mushrooms 20bht/bag, bell peppers 10bht for 3. Spagetti 79bht/kg at Makro.

 

Learn to cook, and shop at the local markets for vegetables.

Just has muesli with fresh strawberries and milk for breakfast, obviously not nutritional.

Later I will have roast pork, baked potato, mushrooms in gravy for around 50bht.

I've also made Pizza dough (in the fridge now), will chop up a fresh tomato, with cheese and toppings about 30bht.

That's 3 western meals for under 100bht, are they nutritional ..... up to you .... and your personal beliefs. 

Edited March 6, 2019 by BritManToo
spelling

[4MyEgo]

1 minute ago, BritManToo said:

I have a family of four living off 40k/month (me, 7yo, 20yo, gf). Including her uni fees/expenses and his school.

No insurance, they are all Thai and covered as citizens, and I am happy to die if I ever get sick.

I have 3-4 local foreign holidays/year (China, Vietnam, Laos, Cambodia, Philippines) included in that 40k/month.

 

I eat home cooked British meals every day ......

Pizza costs about 30bht to make at home, potatoes are 35bht/Kg, pork steaks 79bht for two (Tesco lotus), mushrooms 20bht/bag, bell peppers 10bht for 3. Spagetti 79bht/kg at Makro.

 

Learn to cook, and shop at the local markets for vegetables.

Just has muesli with fresh strawberries and milk for breakfast, obviously not nutritional.

Later I will have roast pork, baked potato, mushrooms in gravy for around 50bht.

I've also made Pizza dough (in the fridge now), will chop up a fresh tomato, with cheese and toppings about 30bht.

That's 3 western meals for under 100bht, are they nutritional ..... up to you .... and your personal beliefs. 

Good luck to you, however I don't think it's living in the comfortable range, which was my main point, living, sure we can all eat pizza, baked beans, etc, etc.

 

Alternating breakfasts: 2 Poached eggs over two wholemeal pieces of toast with avocado, oats with almond milk with cinnamon and some sprinkled organic Chia seeds, freshly squeezed watermelon juice 

 

NO white bread, rice, pasta, pizza, only wholemeal bread, Basmati brown rice, brown pasta.

 

Salmon, prawns, red meat Thai/French.

 

We are what we eat, and the cars in this family run on good fuel and oils, no future tyre's around human waistlines, no down the track ailments like diabetes, stroke, heart attacks.

 

Good clean living, comfortable living, however you have to pay for it, but what price do you put on your and your families health. Thai government hospitals, not a chance in the world, sure my wife and kids can have free cover, but to me it would be like taking them to a veterinary clinic Vs a proper hospital with doctors at Thai government hospitals which I have seen on many occasions spending more time paying attention to their mobiles than their patience well being. 

 

I am not ready to die and will continue to look after my health and my families well being until my last breath, i.e. that is my responsibility, feeding them crappy food will only impact their health in the long run, I prefer to educate them on the nutritional values of food, what to eat and what not to eat, and I can only hope one day, Thai schools embrace this instead of feeding them rice and pork, ones can only imagine the diabetes epidemic the country has, but then again, all you have to do is look at the world and the obesity problems out their with the fast food chains, people not having time to cook or know how to cook.

 

The sooner they introduce nutrition and cooking into schools, the faster people can fight back against the fast food chain giants.

 

Anyways, nuff said, gone off the topic, each to their own and their budgets ????

 

 

[BritManToo]

1 hour ago, 4MyEgo said:

Good clean living, comfortable living, however you have to pay for it, but what price do you put on your and your families health. Thai government hospitals, not a chance in the world, sure my wife and kids can have free cover, but to me it would be like taking them to a veterinary clinic Vs a proper hospital with doctors at Thai government hospitals which I have seen on many occasions spending more time paying attention to their mobiles than their patience well being. 

The more you pay in living expenses, the less healthy you and your family are.

Processed foods, driving everywhere ........ completely the opposite to what you suggest (outside the USA).

You seem to be spending lots of time in hospitals (and worrying about hospitals) which sort of proves my point.

Edited March 6, 2019 by BritManToo

[4MyEgo]

27 minutes ago, BritManToo said:

The more you pay in living expenses, the less healthy you and your family are.

Processed foods, driving everywhere ........ completely the opposite to what you suggest (outside the USA).

You seem to be spending lots of time in hospitals (and worrying about hospitals) which sort of proves my point.

No, nothing out of the usual, seasonal flu, and regular blood tests making sure that the LDL is down, the liver fine, etc etc all good as we age, a bit like taking the car in for a service regularly, checking the oil, the brakes, one life, why not take are of it, keep it in check.

 

I have to admit, am a little of a worrier, have had too many mates go well under 50

[KonaRain]

If I come over to retire, can I just bring my bank of Bangkok(n.y.) statement, or must be deposited for 3 months to season it?

Aloha