The wrong reasons to retire to Thailand?

[BritManToo]

7 minutes ago, OneMoreFarang said:

It seems to me that most guys who fall in love with (bar)girls here fall in love because the girls are feminine and they are nice to the guys. They smile, bring you drinks, laugh about your jokes all day long. And then there is maybe 30 minutes sex a day. 

Many of us here had sex with lots of girls. Some good, some not so good, some great. And did we all stay with the girl with the great sex? Or one of the others with additional qualities. 

What's love got to do with it?

[BritManToo]

8 minutes ago, kingdong said:

Dunno,either way you,'re falling in love and staying with a girl who's a prostitute,might be love to you it's a job to her.

Do you insist on a verified resume from every woman you consider living with?

None of us have any idea what a woman's been up to before we met them.

(unless you only date high school students).

 

Love is for teenagers.

I don't love my misses, she's a convenience, and the moment she becomes a liability she's out.

Too many men loyal to women who wouldn't give them a second though if their money disappeared.

These are simple financial transactions, silly to try and make more of them.

Edited May 20, 2020 by BritManToo

[Sujo]

11 hours ago, Ireland32 said:

Malaysia, Nope, yuk

You missed the whole point. It wasnt about which country is best. Its about trying other countries. I planned to live in thailand but once i tried a few places chose not to live there.

[bert bloggs]

7 minutes ago, BritManToo said:

Do you insist on a verified resume from every woman you consider living with?

None of us have any idea what a woman's been up to before we met them.

(unless you only date high school students).

 

Love is for teenagers.

I don't love my misses, she's a convenience, and the moment she becomes a liability she's out.

Too many men loyal to women who wouldn't give them a second though if their money disappeared.

These are simple financial transactions, silly to try and make more of them.

As long as your happy i suppose thats ok for you ,for me and many it would be a very sad life , but horses for courses,as i have always said about life ,as long as when you die you can say what a great time that was thats ok ,for some they will have wanted fortunes ,some travel and some will die happy after sitting in front of the telly eating fish and chips every day .

Myself i have been lucky ,travelled had a bit of money and loved and been loved lots ,and as i come to the last chapter i have a wife who i know adores me ,and i her ,same with our family

stay safe.

[BritManToo]

1 minute ago, bert bloggs said:

Myself i have been lucky ,travelled had a bit of money and loved and been loved lots ,and as i come to the last chapter i have a wife who i know adores me ,and i her ,same with our family

stay safe.

You're living in a dream world matey!

[bert bloggs]

3 minutes ago, BritManToo said:

You're living in a dream world matey!

well its a great dream and has been all of my life ,long may it continue

[kingdong]

29 minutes ago, BritManToo said:

Do you insist on a verified resume from every woman you consider living with?

None of us have any idea what a woman's been up to before we met them.

(unless you only date high school students).

 

Love is for teenagers.

I don't love my misses, she's a convenience, and the moment she becomes a liability she's out.

Too many men loyal to women who wouldn't give them a second though if their money disappeared.

These are simple financial transactions, silly to try and make more of them.

Found your post contradictory,you start by asking a sarcastic question,then you call your "missus" a convenience,are you married?if so when she feels you,'re a liability you,'ll get the Spanish archer.

[kingdong]

23 minutes ago, bert bloggs said:

As long as your happy i suppose thats ok for you ,for me and many it would be a very sad life , but horses for courses,as i have always said about life ,as long as when you die you can say what a great time that was thats ok ,for some they will have wanted fortunes ,some travel and some will die happy after sitting in front of the telly eating fish and chips every day .

Myself i have been lucky ,travelled had a bit of money and loved and been loved lots ,and as i come to the last chapter i have a wife who i know adores me ,and i her ,same with our family

stay safe.

And now the end is near and I must face the final curtain.................

[Nemises]

Based on the provided circumstances, IMHO your mate would be happier living alone in Thailand than alone in Sydney.

 

He has enough money (10M baht) to "rent" in Thailand (but maybe not in Phuket) until he reaches pension age. He will then need to return to Aus and live there for 2 years to qualify for pension portability. Those 2 years could be expensive, so he will need to factor this into his financial equation.

 

After doing his 2 year 'home detention' he can then immediately go back to Thailand (or wherever he wants) with his pension, providing of course that Centrelink is satisfied he's intending to remain in Aus.

 

[simon43]

20 hours ago, scubascuba3 said:

That's 6% interest, ignoring tax, what Thai bank gives that?

No idea - I save in a bank in Laos, no tax to pay....

[BritManToo]

27 minutes ago, kingdong said:

Found your post contradictory,you start by asking a sarcastic question,then you call your "missus" a convenience,are you married?if so when she feels you,'re a liability you,'ll get the Spanish archer.

I'll only be a liability if I run out of money!

[BritManToo]

45 minutes ago, bert bloggs said:

well its a great dream and has been all of my life ,long may it continue

Agreed, my dream would is pretty good too.

Edited May 20, 2020 by BritManToo

[Lacessit]

10 hours ago, talahtnut said:

Steady on mate, do a couple of years here

on a couple of visas first, see how it goes.

Don't burn yer bridges yet.

I have an idea that the Ozzi pension ceases

after being away for a certain amount of time.

Worth checking that.

I've been living in Thailand for ten years, getting an Australian age part pension. The only items that cease are supplements for power, water and phone after six weeks absence, they are about 7% of the full OAP.

I agree keeping the bulk of assets in Australia is sensible. I've always stuck to a ratio of 80% assets in Australia, 20% of assets in Thailand.

[Lacessit]

29 minutes ago, Nemises said:

Based on the provided circumstances, IMHO your mate would be happier living alone in Thailand than alone in Sydney.

 

He has enough money (10M baht) to "rent" in Thailand (but maybe not in Phuket) until he reaches pension age. He will then need to return to Aus and live there for 2 years to qualify for pension portability. Those 2 years could be expensive, so he will need to factor this into his financial equation.

 

After doing his 2 year 'home detention' he can then immediately go back to Thailand (or wherever he wants) with his pension, providing of course that Centrelink is satisfied he's intending to remain in Aus.

 

I think this is a misconception. As I understand it, as long as he returns to Australia prior to applying and becoming eligible for the OAP, and has 35 years residency in Australia, there is no requirement to live in Australia for two years. The ones who get caught by this rule are those who are not in Australia when they become eligible.

[MadMuhammad]

$500Kaud is cutting it fine if he doesn’t have a quality dividend paying share portfolio, and even then it doesn’t Lenape much wiggle from of he likes to drink, party and bed bar girls. It can very easily get out of hand. 
mid he doesn’t invest inflation and genteel living expenses will take its toll. 
I moved here at 40 a couple years ago and $500K is my cut off, go back to oz and work 6 months of the year cut off point. 

[Saltire]

My reason for retiring was simple, I did not want to work so hard ever again. Every job I had was high pressure, ridiculously long hours and very well paid but unsatisfying and efforts not apreciated. I have always wanted to 'work to live. not live to work'.

 

It's all about the maths and financial planning especially with the risk of exchange rates etc. I had a few lucky breaks in 2002 with a redundancy and early pension deal which I sat on with some invested. Every job I had was well paid and had a good pension scheme which I consolidated every time I changed job to a SIPP. At 57 I calculated I had enough to last me until my other pensions kicked in so I lived for the last 8 years on regular drawdowns. 5 years initially in Cambodia, volunteering a lot, working a little. Then moved to Thailand. I have never been able to live so enjoyably and cheaply. I kept my property in the UK as insurance against a ridiculous medical bill, though I have insurance that probably will never pay out.

 

Now looking forward to my UK state pension at 66 next year.

 

He needs to either sit down and work it out with every contingency, or take financial advice. At 50 he still has time to decide, but one bit of advice would for sure to not sell his property too hastily.

 

 

 

 

[BritManToo]

Just now, MadMuhammad said:

$500Kaud is cutting it fine if he doesn’t have a quality dividend paying share portfolio, and even then it doesn’t Lenape much wiggle from of he likes to drink, party and bed bar girls. It can very easily get out of hand. 
mid he doesn’t invest inflation and genteel living expenses will take its toll. 
I moved here at 40 a couple years ago and $500K is my cut off, go back to oz and work 6 months of the year cut off point. 

Been in Thailand nearly 12 years, and I've seen hardly any inflation.

Gas and pork more expensive, electricity, water, milk, Pepsi much the same price, petrol and cheese considerably cheaper.

 

Only the exchange rate has significantly changed for the worse.

[Lacessit]

9 hours ago, CNXexpat said:

With 10 million Baht only? He lived in a house in Australia, I guess he doesn´t want to live in a 35 sqm Condo in Thailand. Phuket is the most expensive place in Thailand. He needs a health insurance, perhaps he wants a car, I am sure he wants a good steak, a burger and some beers from time to time. For sure he wants to travel through the country. That´s not cheap. 

I relocated in the age of 55 with 20 million Baht and still had a 6 MB house (ok, on paper my wife), 2 cars and a scooter - and get yearly 1 million Baht in dividends. That makes me feel safe.

 

I've found it's very cheap to travel around Thailand in low season, me and my GF would spend about 1500 baht a day, food, accommodation, fuel. Plenty of clean, comfortable hotels for 500-600 baht a night, handy to have someone who can read Thai signs.

Your dividends may take a fair hit, most blue chips in Australia are cutting or suspending dividends entirely.

[Trujillo]

A wrong reason to retire to Thailand? 

 

"I will find a nice local girl who genuinely loves me and will genuinely take care of me (if I keep supporting her)."

 

Generally, this is a myth. If that's your main reason for coming here, don't. 

[Oliver Holzerfilled]

22 hours ago, finnsk said:

 

Many western man is getting tired of the western woman and are looking for something different from a dominating 150 pound masculine western "woman".

You misspelled kilogram.

[MadMuhammad]

34 minutes ago, BritManToo said:

Been in Thailand nearly 12 years, and I've seen hardly any inflation.

Gas and pork more expensive, electricity, water, milk, Pepsi much the same price, petrol and cheese considerably cheaper.

 

Only the exchange rate has significantly changed for the worse.

Yep fair point, duly noted. I guess I’m referring more to having to head back west. Average inflation of 2-2.5%. 

The exchange rate is a very pertinent point that you make. I hear of so many, particularly English expats worry as they retired when the baht was 70 plusto the pound. It’s lost over 50% since it’s peak in just over a decade? Brutal.
The AUD has lost over 10% since I moved in just a couple of years. I factored in the possibility of it losing 30% to my general living costs. Thankfully it has survived so far 

[BritManToo]

2 minutes ago, MadMuhammad said:

Yep fair point, duly noted. I guess I’m referring more to having to head back west. Average inflation of 2-2.5%. 

The exchange rate is a very pertinent point that you make. I hear of so many, particularly English expats worry as they retired when the baht was 70 plusto the pound. It’s lost over 50% since it’s peak in just over a decade? Brutal.
The AUD has lost over 10% since I moved in just a couple of years. I factored in the possibility of it losing 30% to my general living costs. Thankfully it has survived so far 

If they'd retired before 1997 when the pound was 35 to the Baht, they'd be quids in!

From the time I moved, I've lost 20% on the pound, but in the same time the Oz$ lost 25%.

Edited May 20, 2020 by BritManToo

[Lacessit]

1 hour ago, BritManToo said:

Do you insist on a verified resume from every woman you consider living with?

None of us have any idea what a woman's been up to before we met them.

(unless you only date high school students).

 

Love is for teenagers.

I don't love my misses, she's a convenience, and the moment she becomes a liability she's out.

Too many men loyal to women who wouldn't give them a second though if their money disappeared.

These are simple financial transactions, silly to try and make more of them.

I can't say I love my GF; however, I am very fond of her and she will do anything for me. I don't delude myself the relationship would endure after the ATM closed.

I think what keeps us going after 7 years is the fact we are not together 24/7. She spends a night with me in the condo, I spend a couple of days in her village.

I have a pretty good idea what my GF was up to before I met her, and I don't care. A double standard anyway, I was banging my way through Loi Kroh Road before I met her..

She did surprise me when we got around to unprotected sex, producing a medical certificate dated a couple of days before with a full array of STD tests. I guess that might have been her way of saying she was committed to me.

[Pravda]

58 minutes ago, BritManToo said:

Been in Thailand nearly 12 years, and I've seen hardly any inflation.

Gas and pork more expensive, electricity, water, milk, Pepsi much the same price, petrol and cheese considerably cheaper.

 

Only the exchange rate has significantly changed for the worse.

 

There is inflation in Bangkok.

 

Also the price of the land skyrocketed even in the boonies.

[BritManToo]

6 minutes ago, Pravda said:

There is inflation in Bangkok.

Also the price of the land skyrocketed even in the boonies.

We can't buy land so it's irrelevant.

Doesn't seem to have affected rent prices, they appear to be going down.

 

Land prices up, rental prices down ...... amazing Thailand!

 

Mortgage interest rates also down, was 6.25% 7 years back, down to 5% now and talk of reducing it further because of COVID, maybe even a repayment holiday in the offing.

COVID has saved me $$$$s on electricity, water, education (x2), VISA fees, foreign holidays, and no end to the savings in sight.

Edited May 20, 2020 by BritManToo

[scubascuba3]

2 hours ago, simon43 said:

No idea - I save in a bank in Laos, no tax to pay....

Inflation in Laos is 6.5% so not a good interest rate

[OneMoreFarang]

3 hours ago, kingdong said:

Dunno,either way you,'re falling in love and staying with a girl who's a prostitute,might be love to you it's a job to her.

Why are you so sure about that?

Are girls who sell their "services" in the job 24/7? Do they never fall in love? Do they have no boyfriends and husbands?

Obviously there are some relationships which seem to be only based on money. But many couples seem to be together because they are happy together.

[OneMoreFarang]

3 hours ago, BritManToo said:

What's love got to do with it?

 

[Nemises]

2 hours ago, Lacessit said:

I think this is a misconception. As I understand it, as long as he returns to Australia prior to applying and becoming eligible for the OAP, and has 35 years residency in Australia, there is no requirement to live in Australia for two years. The ones who get caught by this rule are those who are not in Australia when they become eligible.

 

I think this is a misconception. As I understand it, as long as he returns to Australia prior to applying and becoming eligible for the OAP, and has 35 years residency in Australia, there is no requirement to live in Australia for two years. The ones who get caught by this rule are those who are not in Australia when they become eligible. - Lacessit

 

 

 

G'day Lacessit, I know a TV member who is in Aus now doing his 2 years "home detention" before returning to Thailand immediately after completing the required 2 years needed for returning expats wanting to obtain OAP portability.

 

Do some more research. If you still think it is a misconception, let me know, so I can advise him the results of your research. I'll then post his comments of your advice.

 

 

 

Edited May 20, 2020 by Nemises

[4MyEgo]

On 5/19/2020 at 1:01 PM, georgegeorgia said:

We've all heard it before,a farang retiring to Thailand because he is not "happy" with his life in farangland, usually as some of us say he wont be happy in Thailand either.

 It's a long reply, but I think it will cover it all.

 

Now it all depends on whether he is ready to throw the towel in early without covering all basis, which I discuss below.

 

Every situation is different, suffice to say I will give an example of how things went for me, i.e. if I didn't meet my "bargirl" wife back in 2006 when I was on holiday in Phuket, I would have been pretty much in that not so "happy" life state having been divorced since 1999 with a daughter, although did have another unhappy relationship with a Thai girl for 2 years, and my job sucked, even though I was making a good coin. Never had a problem with picking up woman, but found out that most are jealous, and that I cannot handle, ex wife and ex Thai girlfriend classic examples, whereas my current wife knows how to handle any emotion that enters and that suits me, e.g. if a woman has an emotional meltdown, then that is her problem, not mine, moving right along.

 

My STRONG advice to him would be to keep holidaying in Thailand, read TVF posts....lol, take the good with the bad, study the girls, don't wear your heart on your sleeve, he is not their saviour and he doesn't know what is under their skin, and ALWAYS....ALWAYS.....ALWAYS keep finances separate and those finances are his, so no need to discuss or show off with others unless he is a dork and wants to come undone as others have, also he should only invest as much as he is prepared to lose.

 

10 million baht is not enough to retire on, at 50 in Phuket, if he is going to eat like a farang and IMHO he will want to have private health cover which is not cheap because if he does end up in hospital, it can chew into his savings/retirement nest egg like there is no tomorrow if he isn't covered, and then what is his fall back position ?

 

I would suggest if he allows for a budget of 60k baht per month inclusive of private health cover, now on the 10 million he will be out of money in say 14 years, but I would imagine sooner than that because he will no doubt be going back to Australia for a couple of visits to see his son or friends, if not, well he might make the money last for those 14 years, but what then when it runs out at age 64, does he return to Australia and go on the dole till he gets to the old pension age which would be 70, doesn't sound like a good scenario to me.

 

If he is serious about coming here on that money, he is still going to need to earn from that money, e.g. not just let it sit in the bank and draw down on it, he needs good solid financial advice, and if he lives here for more than 183 days in a financial year he can become a non-resident for tax purposes, nothing to do with his citizenship, and if he has a good financial planner, he could earn an income per month which would be his budget, tax free.

 

I moved here 4.5 years ago but had and still have 3 times that money when I retired at age 55, that said, I manage my own investments and have on average been earning 100k baht per month although I don't need to, that said, but it provides me with an income of 4% tax free every year and my money is still there as opposed to using my money, so in other words I am making my money work for me as opposed to just letting the balance go down every year.

 

Keeping his property and renting it is something one would have done in the past, but laws change constantly and non-residents pay taxes of 32.5c in every $ earned from rent, then you have council and water rates, house insurance, or strata levies if strata titled like a unit/villa/townhouse, and of course tenant insurance, agents commission, reletting fees, advertising and maintenance, so at the end of the day it's really a 50/50 split, then they slug you capital gains tax when you sell, and as a non-resident, its at the highest tax bracket, so any increase in the property, you could say another half goes to the government by the time you pay agents fees, advertising and solicitors fees.

 

If he meets his dream girls here like I did and wants to build in the sticks as we say, well he is going to need a couple of mil baht for a comfortable house with land, then you the furniture, the car and the wedding, so his 10 million has gone south pretty quick, on the other hand if he wants to just chill and live here 6 months of the year and 6 months back in Oz and keep his house, he gets to keep his residency and pay tax under the norm so if he has a job that he can keep going to and coming back to 6 months a year, the 1st $18,200 is tax free, so his tax won't be too high, then it's all a matter of saving for the 6 months to come and live the dream, and he will also still get Medicare in Oz and can then take out 6 months of travel insurance at a time when holidaying here.

 

To sum it up, he is not too young to retire, but with the amount of money he has, it's not enough, some might say 60,000 baht per month is too high, well they are entitled to their opinion and of course their quality of life, however I like to eat quality, not over the top, not indulge, but I as I have always been a forward planner and a realist, it's easy to write down what you spend for a day, every day and on what you spend it on and only then when you do the tally at the end of the year will you realise what it costs you per month to live here, naturally if he hasn't got a car, it will be cheaper, but I would assume he is coming here to have a good time and not sit on a bar stool, last time I checked taking a young good looking filly it cost 2,000 baht, plus bar fine, plus drinks, so I suppose you could off set that on the car...lol

 

Tell him best to do the 6 month stint if he can, as the benefits of having a fall back position outweigh him not having a fall back position, he might be able to rent a room or two in his house for cash, not in bank, which will also help him with a cash income, rates need to be paid as does insurance for the house while he is away.     

Edited May 20, 2020 by 4MyEgo