The wrong reasons to retire to Thailand?

[pineapple01]

4 minutes ago, pookondee said:

I'd say this guys problem is mainly boredom, having no quality of life and a feeling that life is just passing him by.

 

Its not uncommon for Aussies.

 

Every form of fun in Australia has either been way to expensive or legislated against long ago.

All thats left is your preferred drug, and/or alcohol to take home,

even a packet of cigarettes will cost you well over 1000baht.

Yes, everyone knows those things are not good for your long term health, but what else is there?

Forget about the women to unless you like chubbys with a bad attitude.

 

 

And governments have had a hardon for years about people spending $AU overseas, so they have rigged the game to keep Aussies at home. 

 

First,

by making sure investment properties virtually lose money..

with tax laws/capital gains laws/land tax etc.

If you get deemed a "Non resident for tax purposes" you even loose your tax free thresh-hold.

So that means paying over 30c per $ on EVERYTHING you earn.

 

2nd, 

They have got interest rates down to near Zero now,

so if you sell up, you wont get any decent return on your money in the bank.

 

I dont know what the answer is.

 

For your friend (and all of us really)

before selling up:

 

1. You need to find some kind of income stream the government wont mess with.

 

Personally if i was him,

id try to arrange a system whereby he could rent out part of house at a reasonable rate

(and collect in cash) on the condition he has some small living quarters for himself for part of the year.

Divide the year 9 months in Thailand/ 3 months in Aus.

 

Its probably the only way to keep the

bสrstสrds at bay. 

So Cigarettes are Fun.

[bodga]

2 hours ago, CharlieH said:

Its better than being cold and lonely.

or  HOT and  lonely if  he comes  here.

[pineapple01]

Anyone else just postin here cause you cant join yer Mates Lunchtime

[simple1]

2 hours ago, georgegeorgia said:

So i discussed with him,is life for a 50yo going to be much more exciting everyday for him than going to work everyday in Sydney Australia?

If your friend is unable to enjoy himself / make friends in Sydney, IMO, Thailand would be a tough place to live. On the monetary front remember he will need to return to Oz, currently for two years prior to gaining Portability for Age Pension. Also criteria for full Age Pension payment will likely change which currently stands at 35 years residency from age 16.  With no social support or assets it would be a tough ask to reestablish himself in Oz unless he has a reasonable amount of superannuation to access. In the meantime, as with Thailand cost of living will increase. Also criteria for Thai O visa for long term stay (one year) will likely change e.g. increase in funds required. Can't remember when, but last time it increased from 250k to 800k baht for a single person.

[pookondee]

1 hour ago, pineapple01 said:

So Cigarettes are Fun.

Couldnt think of anything worse myself, but others like them.

[natway09]

I think he is a little young to retire & 10M is not enough for more than 8 years at which time 

he will be unemployable back home, & the way things are going no pension available outside of OZ 

when he turns 67.

If his job allows suggest take a one year sabbatical, have a good time (which of course will not start til next year now anyway) & then reassess options.

Even 2021 could be a new way of life as we know it

[Tony125]

4 hours ago, Kadilo said:

“Because you CAN still be lonely in Thailand,even if its Pattaya “

 

Clearly. 
 

Good luck to him. What’s he got to lose? He ends up skint and enjoys the rest of his time on this planet or dies wondering bored out of his brains somewhere he dont want to be.  
 

 

 

 

 

[UbonThani]

1 hour ago, simple1 said:

If your friend is unable to enjoy himself / make friends in Sydney, IMO, Thailand would be a tough place to live. On the monetary front remember he will need to return to Oz, currently for two years prior to gaining Portability for Age Pension. Also criteria for full Age Pension payment will likely change which currently stands at 35 years residency from age 16.  With no social support or assets it would be a tough ask to reestablish himself in Oz unless he has a reasonable amount of superannuation to access. In the meantime, as with Thailand cost of living will increase. Also criteria for Thai O visa for long term stay (one year) will likely change e.g. increase in funds required. Can't remember when, but last time it increased from 250k to 800k baht for a single person.

nonsense, easier to live in thailand than sydney

[tonray]

8 million baht breakdown 

 

Buy hair salon then coffee shop for GF: 250K

But house for wife (former GF)  who is depressed after failure of salon and coffee shop : 3 mil

Buy house for wife's parents : 1.75mil

Buy 2 New cars: 1.5 mil

 

Already burned thru 6.5 MIL before age 60 and not even on second wife yet... 

 

 

[ChaiyaTH]

Would not say a wrong reason to move here, but a wrong understanding I have learned about:

To be easy, I will stereotype most people and call them 'Retirees'. So many retirees want to find a girlfriend (or even potential wife) here that is not a bar girl. 
Yet they tell me to keep meeting wrong ones and having problems with money requirements. Now the thing many seem to forget is, they want this girl who is not too young or old and be available all the time BUT not be a bar girl or bad girl too. Like which person in the world is? People need a job to make money.

They think from their retiree mind to be free all the time, and see the tourists, but the good girls are all busy and rarely on dating sites too.
If those guys would be a bit more realistic, it been easy, you just gotta pay the girl her salary then or change expectations. 

My best guess is that chances are equally low for a Thai girl to find a long term Foreigner,
and a Retiree to find a good Thai girl, who is always free, and not need any money.

Edited May 19, 2020 by ChaiyaTH

[UbonThani]

10 minutes ago, tonray said:

8 million baht breakdown 

 

Buy hair salon then coffee shop for GF: 250K

But house for wife (former GF)  who is depressed after failure of salon and coffee shop : 3 mil

Buy house for wife's parents : 1.75mil

Buy 2 New cars: 1.5 mil

 

Already burned thru 6.5 MIL before age 60 and not even on second wife yet... 

 

 

solution

dont buy anything but an old car

[1FinickyOne]

5 hours ago, georgegeorgia said:

the answer i believe is NO

Yes, If he enjoys learning about another culture it could be very positive... and companionship is easy to find here... 

 

if he thinks he is in a strange suburb of Sydney, no. 

[ChaiyaTH]

12 minutes ago, UbonThani said:

solution

dont buy anything but an old car

Pay more on rent what you save on the car and be near everything + motorbike.

[ChaiyaTH]

26 minutes ago, tonray said:

8 million baht breakdown 

 

Buy hair salon then coffee shop for GF: 250K

But house for wife (former GF)  who is depressed after failure of salon and coffee shop : 3 mil

Buy house for wife's parents : 1.75mil

Buy 2 New cars: 1.5 mil

 

Already burned thru 6.5 MIL before age 60 and not even on second wife yet... 

 

 

Like why would you even do that. You could just have rented + given pocket money on the returns of that amount. That's like A LOT.
Unless you are trying hard to get rid of your endless money hehe. 

Edited May 19, 2020 by ChaiyaTH

[BTB1977]

If he doesn't have a life back home , why would he have one here. Does he become more interesting once he gets off the plane? 

[UbonThani]

43 minutes ago, ChaiyaTH said:

Pay more on rent what you save on the car and be near everything + motorbike.

fair point

 

[simple1]

1 hour ago, UbonThani said:

nonsense, easier to live in thailand than sydney

You someone who cannot build a reasonable life experience whilst living and working in Sydney I disagree.

[NoshowJones]

6 hours ago, baansgr said:

Thailand is a great place to retire..easy visa extensions for over 50s, cheap as chips to eat at home, with internet keeping in touch and downloading TV is easy. Nirmall circumstances airports and travel anywhwre.If he keeps his senses and doesn't start building houses or buying land and gold for the fairer sex he'll be fine.

Do you live in Thailand? Do you know about all the immigration issues he may have to put up with? If he doesn't join the "scared of your own shadow" brigade, he may have a chance.

[pineapple01]

What immigration issues.?. if you have a prob you cant afford to be here anyway.

[newnative]

6 hours ago, cranki said:

He should go for it !!! 10 million baht will be more than enough (if he's sensible) to last him for 10 years.

So, then he's 60 and broke.  Hope he does a little more planning than that.  

[Martyp]

I am 64 and moved here in 2017. Bangkok. I am financially comfortable with savings and a pension.

 

I am one of those that thinks your friend doesn't have enough money to retire here at his age. 

 

It sounds like he has been here often enough so he knows Thailand however he knows Thailand as a tourist. Retirement is not like being on vacation. And being here as a tourist is not quite the same as living here full time. In the end though no one can answer this dilemma for him. Changing up your life is a bit of a gamble any way you look at it. It is a leap of faith. You won't know if it was a good thing or a bad thing until after you have done it.

 

If it is just a matter of loneliness then I would rather be lonely here than in my home country (USA). Also, note that with the current epidemic, Thailand, as everywhere isn't quite what it used to be even 6 months ago.

Edited May 19, 2020 by Martyp

[Mangkhut]

To cut away from it all like that, sell house and other valuables and leave it all behind - is not such a good idea for many obvious reasons.

What he should donis to rent out his house for a year or two and try to live in Thailand. Maybe the hot season isnt so great after all? Maybe the rainy season too? Maybe going out «for a couple of beers» every night turns into addiction? Maybe «rented female company» isnt the answer to his lonliness?

Maybe money spending goes faster than he thought? (doesnt it always for the majority of us?) 

And if being lonely in his own country is his major problem, how about lonliness in a totally strange country where hardly anyone speaks english to the extend that you can have a meaningful conversation with? 

At least dont burn all bridges, give it a try for a year or two and see how that goes.

 

I have a friend with similar ideas, he wasnt lonely though, he is married to a thai woman and they have two children. They moved to Thailand and tried to settle there. Luckily they just rented out the house for a year at the time. But they came back after 8-9 months and had to spend a few months in his mothers cramped flat. At least they could move into their old house after those months and they had some of their ecpenses covered by the rent...

 

Edited May 19, 2020 by Mangkhut

[sidjameson]

7 hours ago, stephenterry said:

No. I had several years planning to retire here with a lovely Thai women I met in 2006 - which I did in Nov 2009. The wrong reasons were later being caught up in the hedonistic ex-pat lifestyle of constant wine, women, and financial freedom - for a long while.

 

Basically, i screwed up my relationship, and the one after that. Now I live a quiet inexpensive life with my housekeeper carer who is an ideal partner, and my cats and dogs. I've blown my savings, now living off UK pensions that keep me afloat - but today's Thailand is NOT the place I would choose to retire - if only hindsight was available then. 

 

I would tell your friend that life is what he makes of it - take responsibility for his actions and never ever complain if it doesn't work out wherever he lands up. The grass is greener where he makes it a happy place. 

 

 

Very nice post.

What's the total cost per month for the live in carer? Sounds like a possibility for me.

[Lacessit]

8 hours ago, cranki said:

He should go for it !!! 10 million baht will be more than enough (if he's sensible) to last him for 10 years.

So he gets to 60 or 61, then has to wait for an age pension until 67. With the possibility he will live to the average Australian age of 83.5 years. I take it financial planning is not one of your strengths.

[Aussieroaming]

7 hours ago, cmarshall said:

8 million baht at age 50 is not nearly enough to retire and maintain anything approximately resembling a first-world standard of living for the next thirty or forty years.  Unless he will eventually have a good pension from somewhere, his life will sink into misery, probably in the not too distant future.

 

The height of foolishness.

Damned right, problem is also once he sells up and moves here he then forgoes his future pension, as I did unless he moves back to Australia for a re-qualifying period at 65 in order to qualify at 67. Best he rents the apartment out, lives on the rental return plus whatever savings he has and therefore could return to Aust to re-qualify at that time.

 

Also, moving to Asia doesnt mean an automatic end to lonliness. 

 

 

[Kwasaki]

9 hours ago, georgegeorgia said:

Yesterday I was talking to a work colleague who is only 50yo, he was depressed and telling me he is thinking of selling his house worth about 8 million baht in Australia and going off forever to Phuket where he holidays twice a year.

Up to him. 

[Lacessit]

24 minutes ago, sidjameson said:

Very nice post.

What's the total cost per month for the live in carer? Sounds like a possibility for me.

Nurses at government hospitals are compulsorily retired at age 45. Some go into caring, 10K - 15K/month. Helps if one can speak and read Thai.

Plenty of women on ThaiFriendly who are happy to live with a farang for the same or less, but sorting the wheat from the chaff would take time.

[Aliflair]

Interesting topic as I can identify with it. I'm similar age to old mate referred to by OP, had the crisis with the wife in Oz over a year ago and wanted a big change as my kids are adults. Been in Patts over a year, love it but to be honest it's a bit quiet at the moment, however to be fair most places around the world may be like that Sweden excepted. But I'm somewhat more comfortable money wise, I don't think 10M is enough for him to sell up and retire "forever" in LOS, maybe better to rent out his digs and test drive this life as there will be an adjustment period. But he could always try cheaper countries if it doesn't work out here. Who knows when he'll be able to start his new adventure though with this covid life we're all living. Good luck to him hope his dreams come true.

[IAMHERE]

Multiply the cost of a two week vacation by 26, then multiply that by how many years you have left. If you have that much money in the bank (wherever) then I say go for it. Otherwise you'll be old, lonely and poor before your time.

[finnishmen]

only totally idiot falang buy all cow if need sometime only glass of milk. not smart men waste lot money stupid. lot lot better life have whitout anythink wife, girls can rent night or weekend or month if want but no newer take own cow. or buy expensive thai cow to home.