Are you still able to live comfortably?

[Kerryd]

As I say every time another one of these threads pops up, it's all "up to you" whether or not you can live here (comfortably or otherwise) on the amount of money you expect to have.

You have to decide what "lifestyle" you can afford, what amenities you are willing to give up, what "standard" of living you can live with.

Your expectations and "comfort" level are not going to be the same as mine or most anyone else's.

Some people expect to eat in restaurants 2-3 times a day with a bottle of decent wine with each meal while moaning about how long it takes the maid to clean their home and do the laundry every day.

Other people get by living in a one room "Thai style" apartment, buying a bag of rice and some skewers of pork/chicken from the street vendors to go with the one (big) Chang beer they budget for each day while they try to mooch some free WiFi so they can check their email and the latest gibberish on ThaiVisa. Why shower or pay for laundry when you can just wait until the next rain and do both for free ?

(But no worries. When they post on ThaiVisa they want you to believe that they really do have 65,000 a month going into their Thai account and they really are spending that much each month !)

Others have settled into a routine where they shop for food and cook at home while watching (whatever) on the TV in air-conditioned comfort and sorting out the photos from their last trip around Thailand before uploading them using their "high speed" (ADSL) internet as "fibre" can't be installed in their area (yet).
Dining out is something they do once/twice a month maybe, but often it's easier (these days) to simply log onto the internet and have that (whatever meal you are craving) delivered. Less hassles with the weather and traffic as well.

People will give you all manner of price ranges of what you "need" to live on here. Many agree that about 60,000 a month is OK, so long as you aren't planning on hitting the bars every night (and bringing home a new "mia" every night).
It also depends (a lot) on if you are renting or purchasing. I used to spend as much on rent as I did on food (about 10k a month for each - I was renting a small 2 bedroom house on the Darkside).
Add in the cable/internet/phone/water/electricity bills, insurance (health and scooter/motorcycle) and other minor expenses and you up to maybe 30,000 a month already, without going to any movies or bars or side trips or dining out.

If you like going to a bar everyday to socialize and watch footie matches (or whatever) and maybe a little more, then you are going to be spending more. A lot more.

If you buy a condo (or company house) and aren't a free spending, bell ringing, bar hopper - you probably can get by (comfortably) on 50,000 a month.
Having the 800k for Immigration in a Fixed Term account won't earn much interest (especially lately) but it's enough to pay for your annual Extension of Stay and gives you that "peace of mind" that goes with not having to worry about the latest exchange rate or forgetting to wire your 65,000 back home each month so it can be re-transferred back to your Thai account while you pretend you are so rich that 65k a month is chump change.

But keep in mind, things aren't the same here as back in (most of Australia I presume). Like Healthcare. Internet/cable standards and prices. Insurance costs. Cost of imported (foreign) foods that you enjoy back home.

When I worked in the Middle East I used to meet a lot of "starry eyed" first time visitors to Thailand who couldn't wait to move there on their next opportunity. I tried to convince them to rent an apartment (instead of a hotel) and try living there "like a local" for a couple of months before making any commitment as living here is a lot different than vacationing here.

Many of them ignored that of course, only to end up being disappointed when they realized that they couldn't afford to live in a hotel and eat in restaurants everyday and going to the bar every night is really, really expensive and gee - the TV in the hotel is really small and doesn't have many English channels and the fridge is tiny and I have to wash my dishes in the bathroom sink.

But living in an apartment/condo/house often means getting the utilities in your name, opening bank accounts, getting a scooter or car (and driving license and insurance), doing the Immigration stuff all the time, buying/cooking food, laundry (etc etc).

If you've got the time, I'd suggest renting a  (cheap) apartment for a couple months, opening a bank account (if you haven't already), getting some utilities (internet/cable) in your name, shop for food and cook at home.
In other words, live like an expat, not a tourist.

That will give you time to see if you like it, if you can afford to "upgrade", maybe find a different place in a different area and so on. You may decide you'd rather buy a condo in Jomtien instead of living in a serviced apartment in Central Pattaya for example. Or that renting a small house on the Darkside for less than renting a condo/apartment in South Pattaya is the better option.
Or maybe that one room, Thai style apartment above your buddy's bar is the cheaper, more convenient way to go. 

There's a big difference between spending two weeks on a vacation you may have saved up for a year to go on, and trying to live here for the next (20/30/40) years !

[BritManToo]

6 minutes ago, Swiss1960 said:

For me, beef is part of my lifestyle and I have yet to find Thai beef that I would want to eat, so I do regular trips to shops with Australian beef products and happily pay the price. Same goes with red wines, mine tend to be from Italy and go well together with Italian pasta and sauces. Or then the cheese… bloody expensive, but (mostly Swiss) cheeses are part of my diet. And my daughter has started to develop the same tastes, expect the wine (still too young).

Never bothered with beef or lamb much when I was back in the UK.

Pork works just as well in a pie/pasty/chilli or covered in gravy.

Always preferred wine coolers (28bht/Full Moon) and cocktails with my meals.

 

I do like cheese, Mainland vintage (263bht/500gm) or Makro cheddar (360bht/Kg) is good enough though.

The mortgage repayments on the misses 3 bedroom house is 9k/month.

Water 300bht/month, electricity 800bht/month, Fibre 650bht/month.

Hardly expensive.

Edited October 1, 2021 by BritManToo

[Kerryd]

Just now, BritManToo said:

I do like cheese, Mainland vintage (263bht/500gm) or Makro cheddar (360bht/Kg) is good enough though.

Have you checked out the cheese prices at Siamburi's ? Even the "commercial" stuff like Mainland's cheeses are usually a lot cheaper than most of the big box stores.

[KannikaP]

4 hours ago, The Cipher said:

f you save just $1,000 a month ($12k/yr) starting at age 30 and invest it at 8% net, you'll retire at 65 with over $2M in savings. If you change that $1,000 to just $500, you'd still make it to over $1M in the same timeframe.

It's a bit too late for that now.

[KannikaP]

6 hours ago, georgegeorgia said:

I'm looking at the aged pension from Australia and it's around 50,000 baht a month..of course you would have to have the 800k in the bank to meet the immigration requirements.

Not if your Immigration will accept the Combination method, as mine does. 50k per month = 600k a year, plus 200k in the bank = the required 800k.

[georgegeorgia]

2 hours ago, bojo said:

Interestingly, what is it in OZ dollars monthly?

$967.50 per fortnight with telephone..electricity supplement added around 50k Thai baht per month $967 X 2 payments

Eligible from 67yo ....allowed to own your own but no other assets although obviously you won't be able to rent out your home whilst in Thailand I guess otherwise you won't get the pension ...you' d have to rent it out in cash I guess 

 

Even if you owe your own home in Australia how do pensioners live on that ?

Better in Pattaya 

 

Edited October 1, 2021 by georgegeorgia

[bkk6060]

7 hours ago, georgegeorgia said:

Many were living very good .

But can it be done nowadays?

Living very good, what is that?  

Golf 3 days a week.

Female company at least 3 days a week.

A nice condo on the beach in Naklua.

Travel during normal times.

Quality insurance.

Eat what ever you want.

 

These to me are being retired and "living good" doubt it is possible on 50,000 b.

5 hours ago, The Cipher said:

f you save just $1,000 a month ($12k/yr) starting at age 30 and invest it at 8% net, you'll retire at 65 with over $2M in savings. If you change that $1,000 to just $500, you'd still make it to over $1M in the same timeframe.

 

Exactly.  Not rocket science is it?

Edited October 1, 2021 by bkk6060

[georgegeorgia]

5 minutes ago, bkk6060 said:

Living very good, what is that?  

Golf 3 days a week.

Female company at least 3 days a week.

A nice condo on the beach in Naklua.

Travel during normal times.

Quality insurance.

Eat what ever you want.

 

These to me are being retired and "living good" doubt it is possible on 50,000 b.

Exactly.  Not rocket science is it?

But in that time U have mortgage repayments...bills to pay .renovations .holidays.....and those who had kids in that time a lot of expenses ..easy to say save $1000 a month much harder to do I reality

[Olmate]

22 minutes ago, georgegeorgia said:

$967.50 per fortnight with telephone..electricity supplement added around 50k Thai baht per month $967 X 2 payments

Eligible from 67yo ....allowed to own your own but no other assets although obviously you won't be able to rent out your home whilst in Thailand I guess otherwise you won't get the pension ...you' d have to rent it out in cash I guess 

 

Even if you owe your own home in Australia how do pensioners live on that ?

Better in Pattaya 

 

U know your supplements etc stop when OS. Approx 44k baht now.

[Rimmer]

Troll post and a reply removed

[BritManToo]

6 minutes ago, georgegeorgia said:

But in that time U have mortgage repayments...bills to pay .renovations .holidays.....and those who had kids in that time a lot of expenses ..easy to say save $1000 a month much harder to do I reality

You forgot the divorce that costs you 50%+ of everything you ever saved/owned.

Edited October 1, 2021 by BritManToo

[newnative]

6 hours ago, Swiss1960 said:

It can be done, but why live in a city of fun (or in a city that used to be that), when you can not really enjoy the fun?

 

Your base is 50K. You will spend 10K/month on rent, water, electricity, phone. If you are not stupid, you will spend 10K/month on health insurance. That leaves you with 30K or 1K per day. 

 

1K per day in Pattaya is possible, IF... 

- you mostly cook yourself with stuff from market OR live from street food

- don't smoke and/or drink heavily

- don't expect Australian Wagyu on your plate weekly

- don't expect to have a permanent girlfriend/boyfriend

- don't want to travel

- don't want to enjoy yourself with cinema, water parks etc

- don't... basically everything I like to enjoy (except the girlfriend which I replaced by a family)

You will be living a Thai style live and will have to forego many of the perks that you can enjoy today in Australia, because they are cheap (i.e. beef, wine). Anything western in Thailand has its price which might not fit in a tight budget.

 

This is purely based on my experience and my expectations, you will need to define for yourself what you expect your life to look like. 

    How much will rent, water, electricity, phone, etc. run you monthly in Oz?  I'm not Australian so I have no idea but usually keeping a roof over your head is your biggest monthly expense and it is very cheap to do that in Pattaya, especially with the low rents these days.  What would 10,000 baht get you in Oz for a rental at a beach city?   I imagine some of the other things on your list--smoking, travel, cinema, boyfriend/girlfriend, etc. would also cost as much or more in Oz--and probably also things like eating out.   I know, as an American, that if I were on a very tight budget in Thailand and having to live frugally due to only a small pension I would be in even worse shape trying to do that in the US.   

[Pravda]

It's more than possible right now. Unfortunately many people seem to forget when they move to Thailand that they don't have any rights whatsoever. The laws, requirements, visa rules can change at the whim. 

 

Never sell your primary residence back home.

[Pravda]

And I have a question? Basic pension in Australia is 50k baht a month? That's 2000 aus dollars. The government really gives that much to old people? This is much better than Canada where you only get 600-700 a month....the rest is income supplement for old people, but to qualify you have to actually live in the country.

 

Is this the same in aus? How do pensions work there?

[rhodie]

1 hour ago, Pravda said:

And I have a question? Basic pension in Australia is 50k baht a month? That's 2000 aus dollars. The government really gives that much to old people? This is much better than Canada where you only get 600-700 a month....the rest is income supplement for old people, but to qualify you have to actually live in the country.

 

Is this the same in aus? How do pensions work there?

I will give you rough figures but, I have a friend who gets just shy of $1100 a fortnight with rent assistance etc. If you live outside OZ, you lose a smallish amount. Also there are residency requirements. But because you are getting 26 payments a year, you probably would end up with close to AUD$2000 a month. If you are single you can still own a home and have around $275,000 in assets and still get the full pension.

[Pravda]

5 minutes ago, rhodie said:

I will give you rough figures but, I have a friend who gets just shy of $1100 a fortnight with rent assistance etc. If you live outside OZ, you lose a smallish amount. Also there are residency requirements. But because you are getting 26 payments a year, you probably would end up with close to AUD$2000 a month. If you are single you can still own a home and have around $275,000 in assets and still get the full pension.

 

Ok. But can you live in another country and still get full 2000? No residency requirements to live for example 6 months a year?

Edited October 1, 2021 by Pravda

[Will B Good]

I am now....god honest truth.....last night wife told be she had signed a contract to build a three bed house on about 5 rai of land she bought 10 years ago!!!!!

 

All her money.

 

Assuming she doesn't dump me, it means I can now live rent free....back of the net.

[rhodie]

5 minutes ago, Pravda said:

 

Ok. But can you live in another country and still get full 2000? No residency requirements to live for example 6 months a year?

Yes, you can. There are some hoops to jump through, but if you have lived in Australia for 35 years when you reach pension age, you can claim it and go and live anywhere forever. No need to return. You will continue to be paid and get annual increments.

[vinci]

Gen-X has learn a lot from boomer, never relied on pension because with that amount and inflation its just garbage, i have set up myself not to relied on pension alone.

[Will B Good]

3 minutes ago, vinci said:

Gen-X has learn a lot from boomer, never relied on pension because with that amount and inflation its just garbage, i have set up myself not to relied on pension alone.

The UK pension, if you spend carefully and budget, allows you to live in abject poverty.

[thaibeachlovers]

5 hours ago, Rampant Rabbit said:

Sometimes you  get  good  luck and dont grab it with both hands though,  I remember meeting a guy 15  years  ago in Thailand  and it changed my financial  life here for the better substantially.

I did get good luck at one point. I had a choice of going to Saudi or America to work. America made it hard to do so, so I went to Saudi instead, and that is why I ended up lovin' LOS, as LOS was the closest place to Saudi to have fun. Only 6 hours from the dreadful kingdom to party time in paradise. I certainly grabbed that with both hands.

I doubt it made my financial life better, though I certainly improved the financial life of a few ladies.

[ozfarang]

12 minutes ago, rhodie said:

Yes, you can. There are some hoops to jump through, but if you have lived in Australia for 35 years when you reach pension age, you can claim it and go and live anywhere forever. No need to return. You will continue to be paid and get annual increments.

Yes, but you will not be paid the full pension when you move overseas

[thaibeachlovers]

1 hour ago, Pravda said:

It's more than possible right now. Unfortunately many people seem to forget when they move to Thailand that they don't have any rights whatsoever. The laws, requirements, visa rules can change at the whim. 

 

Never sell your primary residence back home.

I didn't sell mine- my ex got it.

[1FinickyOne]

8 hours ago, OneMoreFarang said:

It's all in our minds how much we think we need to make us happy.

some people have minds that live in high rent districts...

 

op - I think there is no question that there is a difference in how much 50k baht will buy now as opposed to 20 years ago... I used to fill to overflowing a cart of groceries and such at Big C for 1000 baht ++ but now, not even close. 

 

Pattaya - and what is has to offer, well, I would think 50K a month is not going to go to far... though maybe the question is better looked at in terms of - - as compared to what? what kind of lifestyle will it buy at home in OZ?

[rhodie]

1 minute ago, ozfarang said:

Yes, but you will not be paid the full pension when you move overseas

I was referring to the 2000 figure. Please don't muddy the waters. You will be paid the full pension less the 2 small supplements. In fact I have a friend who received the full pension plus rent assistance as long as he returned every 6 months. You lose the 2 supplements after 6 weeks. Lost the rent assistance now as he couldn't return with covid restrictions.

[david555]

22 minutes ago, Will B Good said:

I am now....god honest truth.....last night wife told be she had signed a contract to build a three bed house on about 5 rai of land she bought 10 years ago!!!!!

 

All her money.

 

Assuming she doesn't dump me, it means I can now live rent free....back of the net.

Ah  .... must be wonderful to live the "Toy Boy " life ... ????

????

[BritManToo]

Just now, david555 said:

Ah  .... must be wonderful to live the "Toy Boy " life ... ????

????

Yeah, but think what she probably looks like!

[Will B Good]

Just now, david555 said:

Ah  .... must be wonderful to live the "Toy Boy " life ... ????

????

On tenter hooks now.....is she going to become my boss???

 

One wrong word and I'm out on my ear!

[Will B Good]

1 minute ago, BritManToo said:

Yeah, but think what she probably looks like!

Tempted to post a pic.....but you wouldn't know it is was actually her.

[BritManToo]

4 minutes ago, Will B Good said:

Tempted to post a pic.....but you wouldn't know it is was actually her.

PM it to me ..... I trust you and I'll give an honest opinion.

My misses has a few too many miles on the clock now.

But this is my step-daughter on my M/c from last year, and my misses looked better than this when we met

.

 

Edited October 1, 2021 by BritManToo