Where should I start if I am in this category?

[TTL2]

I was hoping to get some limelight of advise here before one really get ready at the age of 54 to get a retirement visa in Thailand. 

Append is the criteria currently possessed,

1. Saved up USD60,000 and monthly still having personal income. ( about 10 years to go before hitting 55 y.o.)
2. Multilingual well verse but very basic Thai (considering of taking Thai language class but due to unexpected situation have to re-schedule in another 5 years time)
3. Fast learner, high school graduate with many years of experience in maritime and mechanical repairs.
4. In mid 40's now and not on any medication.

 

 Since student visa is not an option now.

What is the best option(s) available to proceed by investing financially and prospect in long term in Thailand before switching to Retirement Visa Investment or Citizenship by Investment?  

Edited August 3, 2019 by TTL2
spelling

[Sheryl]

Investment visa requires investment of over USD300,000.

 

Your best option is an Elite Visa.

https://www.thailandelite-direct.com/program-overview

[NCC1701A]

2 hours ago, TTL2 said:

What is the best option(s) available to proceed by investing financially

you said USD so i am assuming you are American. Buy a house, payoff the mortgage and rent it out. don't ever sell it.

be thinking about the possibly of having to return to the USA at some point, maybe when you are 75-80. It will be nice to have a house rent free.

 

a friend of mine just bought two cheap houses in Tennessee. now he has about $2400 coming in.

save enough money to live in Thailand from retirement to collecting social security.

 

get rid of every unnecessary thing in your life. sell your car and get very basic transportation. don't buy a flatscreen or anything. just start adding money to your requirement now. don't plan on bringing anything to Thailand.

 

and unfortunately, Thailand is changing so fast and your retirement is so far off you should really focus on saving, investment and make the call later as to where you will end up.  could be Vietnam. could be North Korea. 

no one knows what the exchange rate will be so that will be huge consideration.

 

Don't forget to factor in inflation. I used a spread sheet to project 20 years planning in Thailand. So far I am right on course and budget.

 

Don't "invest" in any property in Thailand. Don't buy a bar. Don't get railroaded into getting married. 

 

Diet and exercise is very important now and through the whole process. can't be happy if you don't have your health.

 

Good luck

 

 

 

Edited August 3, 2019 by NCC1701A

[MangoPineappleBanana]

3 hours ago, NCC1701A said:

Don't get railroaded into getting married. 

 

Diet and exercise is very important now and through the whole process. can't be happy if you don't have your health.

The two best pieces of advice one could give. Take a hobby like climbing or diving, there's plenty of that here. 

[sirineou]

12 minutes ago, MangoPineappleBanana said:

The two best pieces of advice one could give. Take a hobby like climbing or diving, there's plenty of that here. 

but not climbing and diving 

[MangoPineappleBanana]

Climbing and diving? lmao
Sure....you see farang all the time getting athletic...esp old codgers
/sarc/

I dont know about you but my climbing & diving is done in the comfort of my bedroom.

[TTL2]

On 8/4/2019 at 1:39 AM, Sheryl said:

Investment visa requires investment of over USD300,000.

 

Your best option is an Elite Visa.

https://www.thailandelite-direct.com/program-overview

At the moment I don't have that much. Barely USD100,000 savings and now 30% of it going gradually expense into supporting an ailing father who is on extensive medical care without insurance for another 5 years (if he didn't survive) as his conditions included of multiple complications due to surgery mishaps.

Edited August 5, 2019 by TTL2