Thailand's foreign retirees see their good life slip away

[Bruntoid]

6 hours ago, simon43 said:

I'm happy that I moved to Laos.  I get 4% more Lao kip for my USD income than last year - sits nicely with my 6% pa interest savings account... ????

Laos ?!?! The absolute <deleted> end of the planet ! 
 

How desperate do you have to be to live there ?!

[robsamui]

5 hours ago, ChipButty said:

100 taxi's returned to the finance company last week so Thai's are suffering

Ye's indeed, they are s'uffering.

[gk10002000]

9 hours ago, webfact said:

Country opens up to a wealthier class

such total hogwash.  The wealthier people could always go there.  Thailand has not opened anything except maybe give the wealthier the "special price" which is no bargain

[gk10002000]

8 hours ago, RJRS1301 said:

My personal concern about keeping the 800,000 in the bank, is not that I cannot access it,or afford to lock that amount up, but if Thailand decides to change the laws during a time of unrest, and  acquire the funds of farang and order us from the country, then we are royally screwed.

That is all some people have for security.

 

 

I would never trust keeping 800,000 baht in Thailand.  Transfer out, accessing money, delays as accounts are "frozen", presumptive guilt or source laws or policies that can be used to at best slow down getting the money while proving where money came from. source, etc.  in good times or emergency times is a significant risk.

[CGW]

12 minutes ago, gk10002000 said:

I would never trust keeping 800,000 baht in Thailand.  Transfer out, accessing money, delays as accounts are "frozen", presumptive guilt or source laws or policies that can be used to at best slow down getting the money while proving where money came from. source, etc.  in good times or emergency times is a significant risk.

I can understand your concern, whether it is justified is debatable though?

I have had the same 800k in a bank account for well over 10 year now - with no issues! Yearly visa extension's take usually 20 minutes, 90 day reports 5 minutes, risks - not seeing them at this time.

[Soikhaonoiken]

10 hours ago, NCC1701A said:

as the country opens up to a wealthier class of retirees.

Where are all these wealth retirees, I think the Author of this report is dreaming or been miss informed. 

[Edwin Cameron]

They will just move to Phillipines or somewhere else.my Dad used to say "50% of something,is better than 100% of nothing"...

[gk10002000]

5 hours ago, CGW said:

I can understand your concern, whether it is justified is debatable though?

I have had the same 800k in a bank account for well over 10 year now - with no issues! Yearly visa extension's take usually 20 minutes, 90 day reports 5 minutes, risks - not seeing them at this time.

yes things work well when they work. 

[chrissables]

14 hours ago, from the home of CC said:

The good life slipping away lol, it's called being financially unprepared. Anybody who tries to retire in a foreign country on the cheap is a fool..

Did you know the baht would crash from 75 to a pound to 39? One can make allowances, but that is a huge drop, add that to the banking crisis and the affects, it proves even with planning some things are outside of ones control.

[baansgr]

14 hours ago, from the home of CC said:

The good life slipping away lol, it's called being financially unprepared. Anybody who tries to retire in a foreign country on the cheap is a fool..

But nobody can forsee or even plan for a 50% decrease in their currency or ever changing visa rules....how much buffer do you have to allow for. 

 

[ThaiBunny]

2 minutes ago, baansgr said:

But nobody can forsee or even plan for a 50% decrease in their currency or ever changing visa rules....how much buffer do you have to allow for. 

I'd have thought anyone who thinks that one-year stays, renewable at the whim of a government, is a long-term proposition has no idea how to do a risk assessment

[mberbae]

Judging from the beached whale in speedo's , Thailand could use

a retirees that can at least afford proper swimsuits. ????????

[new2here]

While I agree that the article is lacking in specifics - and I don’t think it was designed to be a point-for-point technical read of the situation - I DO think the larger message is on point... that being the “old days” of a combination of a) weaker baht and stronger western currency plus b) the more complex and rapidly changing visa rules have made living here on a “permanent” basis, a bit more difficult for some.. not all.. but some.

I myself don’t see that changing anytime in the immediate near future.. but like all things governmental, I don’t think it will stay like this forever.

[Nyezhov]

14 hours ago, phuketrichard said:

Camboida pays up to 8% ( - 7% tax) on 1 year term deposits

 

Nyezhov ,why cant ya go to Bangkok? or if in SR just hop over to surin.

waiting for the virus to go poof, bye.....

[mickey rat]

Unless you live in the far south you'll be dead sooner anyway due to the horrendous air pollution so you actually will be saving about 10 to 20 percent by knocking years off your life expectancy! Once you add that into your calculations it's not nearly so expensive. ????

[dingdongrb]

15 hours ago, madmen said:

<deleted> journalism with zero due dilligance 

"Applicants must now also have health insurance" 

Really since when? 

 

800k or 65k. Wow amazing and never mentions the 400k

 

Nothing to see here folks 

 

 

Isn't the article about retirees and not those maaried to and supporting a Thai?

[Penicillin]

15 hours ago, aussienam said:

Yes, if there was ever a run on the banks similar to what has occurred in other developing nations and the government blocked withdrawals then we would all be screwed.  And complain you'll be deported LOL.

I think most expats here are getting screwed on a regular basis. 

[dingdongrb]

8 minutes ago, mickey rat said:

Unless you live in the far south you'll be dead sooner anyway due to the horrendous air pollution so you actually will be saving about 10 to 20 percent by knocking years off your life expectancy! Once you add that into your calculations it's not nearly so expensive. ????

Like there is no pollution here in the north?

[DPKANKAN]

15 hours ago, aussienam said:

Yep, as well as Australia.  We have lost 25% since it was 25 Baht to 1 AUD, and we were always the 'poor cousins' of Europe and the USA.  Us Aussies have always been looked down on as the Cheap Charlies and now we are even cheaper!

I know Cheap Charlies of many nationalities!! ????????????????????????????????

[mikebike]

55 minutes ago, ThaiBunny said:

I'd have thought anyone who thinks that one-year stays, renewable at the whim of a government, is a long-term proposition has no idea how to do a risk assessment

I’d have thought you would understand that every individual has a different takeaway from risk assessment based on their individual needs and circumstance.

[crazykopite]

I think the £ has dropped more than 30%

Edited March 6, 2020 by crazykopite

[samsensam]

59 minutes ago, ThaiBunny said:

I'd have thought anyone who thinks that one-year stays, renewable at the whim of a government, is a long-term proposition has no idea how to do a risk assessment

 

doesn't make sense, do you understand what a risk assessment is?

[sahibji]

16 hours ago, RJRS1301 said:

My personal concern about keeping the 800,000 in the bank, is not that I cannot access it,or afford to lock that amount up, but if Thailand decides to change the laws during a time of unrest, and  acquire the funds of farang and order us from the country, then we are royally screwed.

That is all some people have for security.

 

 

it is part of the trade off but the individual has own decision to make.

[sahibji]

unfortunately this disease is seeing no borders. life has been impacted world wide for everybody, in one way or the other.

[Brer]

16 hours ago, aussienam said:

Yep, as well as Australia.  We have lost 25% since it was 25 Baht to 1 AUD, and we were always the 'poor cousins' of Europe and the USA.  Us Aussies have always been looked down on as the Cheap Charlies and now we are even cheaper!

Mate we have lost much more we used to get nearly 33 baht to the dollar. Your maths is <deleted> or you really don’t know where to change your dollars for the best rate.

Never ever come across Thai’s or other nationalities looking at us as cheap Charlies that’s term is reserved for Poms only. 

Poms never stop whinging, they can only talk about the weather or soccer, and you can observe paying for beers sometimes counting out one baht coins or they wait for 5 baht change, now that is a cheap Charlie and there are heaps of them. The ones who come from the north of England are the worst the southerners have a bit better breeding.

We are elevated much above the term cheap Charlie. 

So I don’t know your personal circumstances but if you come across Poms calling us cheap Charlie’s give them a dig in the ribs and tell them to eat chit and bark at the moon.

 

 

Edited March 6, 2020 by Brer
Anger

[SiSePuede419]

16 hours ago, webfact said:

Thailand's foreign retirees see their good life slip away

 

Good life?  In Pattaya?  Take off your beer goggles and face the stone cold sober facts sometime, will ya? ????

[onekoolguy]

On the 800k deposit. If you die better have a Thai will or it will be very difficult for relatives to recover the funds.

[jonwilly]

16 hours ago, RJRS1301 said:

My personal concern about keeping the 800,000 in the bank, is not that I cannot access it,or afford to lock that amount up, but if Thailand decides to change the laws during a time of unrest, and  acquire the funds of farang and order us from the country, then we are royally screwed.

That is all some people have for security.

 

 

When I first did my retirement visa I was only required to have B800K in the bank on the morning of visa issue and to take a letter plus my bankbook to immigration for the issue. Then Frangs started cheating so now I, must have B800K in for 2 months before three months after and must keep B400K for 12 months.

Cheers all you *&^%$^&* s.

john

[Orton Rd]

some people are easily pleased

 

6 minutes ago, onekoolguy said:

On the 800k deposit. If you die better have a Thai will or it will be very difficult for relatives to recover the funds.

Just make the Mrs co signature (not joint account) then she could go in after you die and take it all out. Technically fraud but they will never know you died.

[JustAnotherHun]

Me and my family's good life here won't slip away cause of a strong Baht but it might come to an end because of watchmen, health ministers and generals.