Retirement

[golfnut505]

hello. i'm a newbie, 52 yr. old American VA pensioner, single male.

i'm trying to decide on the best place for me to retire on my small pension, which is $910/month. I've been to thailand twice and absolutely love it. i don't know a lot about the visa situation. if possible, i would love to stay single and be able to stay in thailand permanently, but i surely don't meet the financial requirements even if i combined everything.

whatever help/info you can provide me with would be greatly appreciated. thank you, and take care.

al

[Krub]

hello. i'm a newbie, 52 yr. old American VA pensioner, single male.

i'm trying to decide on the best place for me to retire on my small pension, which is $910/month. I've been to thailand twice and absolutely love it. i don't know a lot about the visa situation. if possible, i would love to stay single and be able to stay in thailand permanently, but i surely don't meet the financial requirements even if i combined everything.

whatever help/info you can provide me with would be greatly appreciated. thank you, and take care.

al

If you can make up the difference between your pension x 12 and 800k baht in a Thai bank account, you should be able to stay on a one yea extension.

I must say 900 US$ is not a lot even in Thailand although it is surely possible outside of Bangkok

Good luck

[tijnebijn]

So a quick calculation,12 months 900=10800 dollars ,exchange rate 35 times is about 380.000 baht.if you can put about 4 to 5oo.ooo in a savings account you can probarly get an extension of stay.but suspence in what area you want to make your base,I have noticed that in the south is the most easiest.But different posters can help you out better I imagine.the other thing that you can do is take a multiple nonO,when you are over 50 years old ,what you are,and show approx 1500 dollars on your bank account,you can stay for over a year but have to go over the border every 90 days.but when the visa time is over you probably will have to fly back to the states to make a new one ,so their are different ways,more expensive,but it is a way.

[ProThaiExpat]

I didn't use a calculator, but I came up with about 30K Baht a month as your income stream upon which you must live.

That is very possible, but you would have to live in a more remote areas where your rent is the most reasonable.

I have no difficulty living on 30K baht a month in Chiang Mai, however, I pay no rent nor do I have car payments.

Thus, I would conclude that if you were careful and stayed away from restaurants and bars and payed no more than 5k for an apartment, lets say in Chiang Mai, you could make it.

I believe you can find a nice apartment for less than that, Huay Kaew apartments with internet go for a bout 3k I believe.

However, to satisfy immigration every year you would have to have 520K Baht in the bank and never touch it. Yes you could borrow it for the three months before you have to show it to immigration.

Guys living in remote villages do it for less, I am sure.

[LivinLOS]

The question my mind asks.. Is if your 52 now.. How do you plan to survive as you get older, less able to work or earn, the dollar keeps going south, etc etc etc..

Do you have a pension or something thats going to kick in later, otherwise your looking at a very lean retirement which I feel is dangerous in a developing country.

[golfnut505]

I receive a 4% Congressional COLA (cost-of-living-allowance) every January. I also have a few other things i'm looking into. Nothing bit, just a few extra dollars here and there.

[retiredusn]

hello. i'm a newbie, 52 yr. old American VA pensioner, single male.

i'm trying to decide on the best place for me to retire on my small pension, which is $910/month. I've been to thailand twice and absolutely love it. i don't know a lot about the visa situation. if possible, i would love to stay single and be able to stay in thailand permanently, but i surely don't meet the financial requirements even if i combined everything.

whatever help/info you can provide me with would be greatly appreciated. thank you, and take care.

al

The Thai retirement visa is pretty stright-up on the requirement for 65000bt, you can use your 1099 tax form issued by the va for a portion of the monies and then the remaining can be in the form of a bank account/statement . I strongly suggest if you are planning on thailand to get your first retirement visa/mult. entry stamp in the US prior to arrival here the yearly extensions of visa are really no problem and the thai immagrations are normally more than helpful.

[wpcoe]

The question my mind asks.. Is if your 52 now.. How do you plan to survive as you get older, less able to work or earn, the dollar keeps going south, etc etc etc..

Do you have a pension or something thats going to kick in later, otherwise your looking at a very lean retirement which I feel is dangerous in a developing country.

In addition to an annual COLA adjustment, hopefully (if the Iraq war doesn't totally bankrupt the US federal coffers) he (and I) will be able to receive Social Security payments starting at age 62.

That's not something I am counting on, though, but would be a nice bonus if I get it. I am also 52 this year. I am relying on savings and real estate investment in the USA for my retirement. My pension is currently owned by the PBGC (Pension Benefit Guarantee Corporation), a government agency which can also go bankrupt and cease paying benefits, since my employer eagerly handed over the underfunded pension plan under protection of the bankruptcy courts. <sigh...>