Retiring In Thailand

[Dixie]

I’m married to a Thai lady and we have been married for 7 years (Happy together), at present we live in the UK. Even before we met it was always my ambition to retire in Thailand as I’ve been visiting there for over 20 years and I’ve been saving for years in preparation for retirement.

We have just come back from a 2 month stay over in Thailand and I nearly purchased a house only I run out of time (no pressure from the wife as she likes it in the UK). While I was over there I had been talking to expats I know and from looking at these forums I’m beginning to wonder if it really is the place to retire. I’ve quite a bit of money in a Thai bank account and I’m starting to wonder if this money is safe or not with the way present government are performing.

It appears to me that this government are making it as difficult as possible for expats who want to live and retire in Thailand. I’m also concerned (judging by the way the present government are handling things) that the new constitution will make things even worse.

Should I hold off until the new constitution is revealed and should I be worried about the money I have invested over there already.

Dixie

[Francis Maube]

The present government, or lack of it, depending which way one look at it, wouldn't be my concern if I was in your shoes. LOS is not about to close it's door, making it difficult for foreigners, most certainly but it has always been the case.

My concerns would be with activity, I have met too many retirees seriously bored which lead to all sort of anti social behaviours, drinking too much, not understanding Thai behaviour and generally bunching with people of the same nationality.

I can remember a post from a retiree who decided to go home after 5 years because he was bored.

The key is to avoid : nowhere to go and all day to get there.

I wouldn't buy a house either, rather rent first and travel around till a suitable location is found and prices are reasonable.

That's my 2 bits, good luck.

[qwertz]

The present government, or lack of it, depending which way one look at it, wouldn't be my concern if I was in your shoes. LOS is not about to close it's door, making it difficult for foreigners, most certainly but it has always been the case.

My concerns would be with activity, I have met too many retirees seriously bored which lead to all sort of anti social behaviours, drinking too much, not understanding Thai behaviour and generally bunching with people of the same nationality.

I can remember a post from a retiree who decided to go home after 5 years because he was bored.

The key is to avoid : nowhere to go and all day to get there.

I wouldn't buy a house either, rather rent first and travel around till a suitable location is found and prices are reasonable.

That's my 2 bits, good luck.

Fair comment FM. I will consider your advice too as I'm looking for somewhere comfortable to retire.

[MTW]

I think your question is not about living here but is your money safe? The next question should be: how much can you afford to lose if that is the worst case senario?

If this money is everything to you, I suspect you would not have brought it here. Is the money in your name, or your wife's name or both? Now is proabably not the best time to change it back to your country's money since the exchange rate is bad and most people seem to expect the baht will drop again.

Can you even get it out of the bank and back to your country if you want to?

If your Thai spouse has control of the money here, maybe she will not want you to send to back to yourself and will have plenty of excuses why it cannot be done ... although there are many reasons it cannot be done apparently.

Re buying a home here. Please live here first, whatever city you are considering. If you have never lived here, you cannot believe the bizzare problems which could make you unhappy in your home choice because these things don't exist pretty much in Western countries. And the possibility that you can never sell your home to someone else does exist here.

I think nobody without a full picture of your finances, your age, your plans, can possibly answer the question you asked, and those who have that info can only guess unless it is totally obvious.

The best advise I have seen/read/heard from farangs here, is DO NOT INVEST ANY MONEY YOU CANNOT AFFORD TO LOSE in Thailand.

[bmanly]

I’m married to a Thai lady and we have been married for 7 years (Happy together), at present we live in the UK. Even before we met it was always my ambition to retire in Thailand as I’ve been visiting there for over 20 years and I’ve been saving for years in preparation for retirement.

We have just come back from a 2 month stay over in Thailand and I nearly purchased a house only I run out of time (no pressure from the wife as she likes it in the UK). While I was over there I had been talking to expats I know and from looking at these forums I’m beginning to wonder if it really is the place to retire. I’ve quite a bit of money in a Thai bank account and I’m starting to wonder if this money is safe or not with the way present government are performing.

It appears to me that this government are making it as difficult as possible for expats who want to live and retire in Thailand. I’m also concerned (judging by the way the present government are handling things) that the new constitution will make things even worse.

Should I hold off until the new constitution is revealed and should I be worried about the money I have invested over there already.

Dixie

Dixie you seem like a pretty well grounded person and congrats to the 7 years marriage. I'd be inclined to talk to the missus a bit more because usually they give the best guidance. There is no point retiring in LOS if the missus doesn't want it.

If she does though, well and good and you can start your plan.

I would not worry about your Thai baht in your bank account, the Government won't take it but of course there are no guarantees in life.

About visa, as you are married you can get a multiple entry Non imm O visa which you can get based on your marriage. You can try Thailand on this for a year and if you want to stay you can get a retirement visa or marriage visa later.

I myself am married too and I am on the Non O multiple and I am happy with that. The catch is I must do a border run every 90 days with that. you can progress to the next level where you don't need to make border runs.

As far as buying property I am not interested but then that is because of my own personal beliefs and really I only live here 6 Months a year. It's a bit different for the the guys that live here forever.

If I was you, I would do a trial run for a year with your wife and just rent, after a year you will be able to make an informed opinion of what is right or wrong for you both. Cheers and good luck.

[suegha]

Agree with the comments to try it and see. Rent a cheap property, move around a bit, get a better feel for the place and then make you mind up.

Also agree with the point about only investing what you wouldn't mind loosing!

[Dixie]

Thanks for the replies everyone.

FM,

I’m not to concerned about getting bored as I am easily pleased and like doing things with my hands. My wife also has family over in Thailand which keeps me busy. I’ve travelled quite a bit of Thailand and have already made my mind up where I would like to live, which would be Chiang Mai, my wife is from Lampang (South of Chiang Mai) which is where her father lives with her younger sister. She also has an older sister who is married and lives in Lamphun.

I like Chiang Mai and also my wife would like to live there to be near her family if we move over to Thailand. I also think it only fair to her that we live somewhere she wants to live, you also don’t know what might happen in the future and she would be left on her own.

The only reason I’ve been looking at buying a house is because of the cost of renting for a year, I could put that amount towards the purchase of the house. I understand that I could lose the house anyway, but that’s no different to losing everything in the UK (which has already happened to me).

MTW,

Your right, the money is not everything (and I know I might loose it) to me but it is all part of “the plan” The money is all in my name, my wife has her own bank account, should anything happen to me the money in my name would automatically go to her. I can get the money out of the bank without any problems, I’m not sure about getting it out of Thailand. I could change my ATM card for one that can be used abroad. I’ve already used one before and only stopped because I had to pay for the privilege of having it and I was taxed on the account. (As some body has already pointed out I'd lose quite a bit in exchange rates but it is an option)

I’m 53 years of age and my wife will be 40 this year. I’ve over one million in the bank in Thailand (this is was to be used for obtaining a retirement visa every year) and have the money in the UK to purchase a house, If I live there for one year renting I will have less money to purchase the house.

I planned on selling my house in the UK and investing the money to live on the interest in Thailand that way if anything did happen between me and the wife I would at least still have the money from the house to go back to. I’d say I would get £180,000 - £190,000 from the house in the UK and no I don’t want to rent it out, I’d like to start fresh and live somewhere else, In my opinion the UK is washed out. I don’t know how much more expensive Thialand will become but it’s still allot cheaper than the UK to live in.

Bmanly,

Thanks for your comments you sound like a decent chap, if I was only visiting for six months every year i’d probably be doing the same as yourself. I’m at a point where I have to decide while I have everything I need to retire as I’m still quite young as retiring goes. If I were to have a Non O multiple would I be able to purchase and register a car etc. in my name?

Edited April 16, 2007 by Dixie

[Lite Beer]

You can buy and register a car on a non o visa.

Agree with whatevery one else has said.

If your wife wants to come , you will not regret it.