I am Done With Thai Retirement Extensions - Relocating to Ecuador or Mexico on Permanent Residency

[Jingthing]

44 minutes ago, Chris.B said:

You have got to be a Yank with that attitude.

 

More like a person that hates their work.

[Gecko123]

1 hour ago, The Hammer2021 said:

No. Just smart. There is no reason to work after 60 and 50 can be achieved with thought and planning

Generations in the wake of WWII saw huge gains in property values due to baby-boom housing demand. Post-Volcker era monetary policy has also fueled inflation of stock market values, as has monetary policy in response to the 2008 housing crisis, as well as the 2020 pandemic. So much of the wealth that baby boomer retirees / early retirees accumulated during their working years came from outsized increases in both housing and stock market values.

 

For the vast majority of people, the lion's share of these windfall profits had very little to do with investment acumen, but were more a matter of when you caught the wave, and whether your life circumstances allowed you to fully benefit from these demographic and monetary policy trends during your working years.

 

With housing taking an ever bigger bite out of personal income, today's generations 10-20 years away from retirement, are not only finding it more difficult to accumulate retirement savings, but they have probably realized far less house appreciation returns than many baby boomers. With the S&P 500 PE ratio sitting at 40, it is doubtful that the stellar stock market returns realized between 1982-2020 are going to continue into the future.

 

Consider, too, how the value of the USD (or any other Western currency) has depreciated in the past 20 years in relation to other currencies. Consider, as well, how globalization has made the costs of labor, food, clothing, appliances, etc. more uniform no matter where you live. That's having a big impact on the ability of a Westerner to retire early overseas as well. Also, consider the dependability of safety net retirement benefits of 20 years ago compared to what they're likely to be 20 years down the road.

 

If you want to pat yourself on the back that you were able to retire early that's fine, but saying in today's world "with a little planning and a few smarts that anybody can retire before age 60" fails to take into account how much the retirement landscape has changed in the past 50 years.

 

For the record, I retired at age 50.

Edited November 8, 2021 by Gecko123

[Gandtee]

2 hours ago, KarenBravo said:

So what? It's happened many times before. In fact, 18 times already. Each time, they handed back to a civilian government (who didn't seem to do much better).

I've lived here through a few of them and absolutely nothing changed for me at all in my daily life.

You forget Dr Anund, who brought a breath of fresh air and common sense that unfortunately petered out when he went.☹️

[KarenBravo]

13 minutes ago, Gandtee said:

You forget Dr Anund, who brought a breath of fresh air and common sense that unfortunately petered out when he went.☹️

Yes, he was against corruption and angered the pigs at the trough at the time.

 

We had the same happen in Phuket. A new governor that decided to look around the island on his motorbike to see what problems the island suffered and how to put them right.

He lasted three months. The corrupt Hi-So families that run Phuket vociferously complained to their powerful friends in Bangkok and he was removed. I forget his name as he's never mentioned.

 

Chuan Leekpai was an honest man himself, but he tolerated corruption among all his cabinet and followers.

A land scandal in Phuket finally brought his government down

Edited November 8, 2021 by KarenBravo

[NoshowJones]

3 hours ago, KarenBravo said:

So what? It's happened many times before. In fact, 18 times already. Each time, they handed back to a civilian government (who didn't seem to do much better).

I've lived here through a few of them and absolutely nothing changed for me at all in my daily life.

So the strength of the Baht rising between 2014 and now did not bother you? I suppose it depends on your nationality.

You have obviously been in Thailand a very long time and can remember proper governments, so I can't argue with you.

It has been mostly soldier governments in the time I have been here, and this unelected poser of a PM is hated by the majority of members of this forum going by the posts, but it is working for you and you are happy about it, so that's fine.

[KarenBravo]

17 minutes ago, possum1931 said:

So the strength of the Baht rising between 2014 and now did not bother you? I suppose it depends on your nationality.

You have obviously been in Thailand a very long time and can remember proper governments, so I can't argue with you.

It has been mostly soldier governments in the time I have been here, and this unelected poser of a PM is hated by the majority of members of this forum going by the posts, but it is working for you and you are happy about it, so that's fine.

Why do you say "it is working for you and you are happy about it, so that's fine"?

I haven't expressed an opinion at all on military governments.

My point, which I thought I'd made plain, was that for me personally, it really doesn't matter who runs this country. They're all the same. Please don't put words into my mouth.

 

The Baht to US$ is determined by international markets, supply and demand, not single governments. The Baht isn't the only regional currency that gained against the dollar.

If it was, the UK wouldn't have had to exit the ERM back in 1992.

 

Edited November 8, 2021 by KarenBravo

[Destiny1990]

6 hours ago, The Hammer2021 said:

The onerous paperwork you describe: 'hundreds of signed copies'...if true then PAY AN AGENT!!! to help you just as we pay an accountant to help us sometimes or get your wife to help!

Well i just stopped with staying long term just like so-many other expats did. That’s a quick fix..I don’t want to live in a country were the visa process is uncomfortable and over complicated  because in the end it just discourages the foreigner for continuing his stay. I will still visit in future but just for 2/3 months trips.

[KhunLA]

6 hours ago, The Hammer2021 said:

No. Just smart. There is no reason to work after 60 and 50 can be achieved with thought and planning

So true.  I could have retired before 30 yrs old, if not such a LPOS, but I was having too much fun at the time, to think that forward.  When I did actually think about it, took less then 5 yrs to retire.  Sort of, as I was building equity while having fun.

 

 

[zzaa09]

6 hours ago, KarenBravo said:

 

 

Chuan Leekpai was an honest man himself, but he tolerated corruption among all his cabinet and followers.

A land scandal in Phuket finally brought his government down

One could challenge the honesty and honorable integrity of Chuan if he turned a blind eye to the traditional corruption and criminal organisations that were of his choosing - 

[KarenBravo]

Just now, zzaa09 said:

One could challenge the honesty and honorable integrity of Chuan if he turned a blind eye to the traditional corruption and criminal organisations that were of his choosing - 

Yeah, that's one way to look at it.

[Tony125]

On 11/7/2021 at 3:28 PM, Cleareye said:

I'm planning on leaving as well. I would stay if it were easier, but I switched to using an agent the last couple of years because I was tired of going through all the hassle of filing for an extension. Plus, I didn't want to put 800,000 in a Thai bank and just let is sit there. This system doesn't make any sense to me. Why force retirees to keep 400,000 in the bank? You would think they would want you to spend the money and help the economy. You can't use it for emergencies either because the moment your balance dips below 400.000 you're technically in default of the visa rules. And tha'ts not even to mention the issue of how safe the money is.

 

I have to say the agent was great. 14,000 for an extension and I didn't have to do a thing. Courier picked up my passport and it was returned by EMS a few days later. The agent also handled all of the 90 day reports, reminding me when they were due, filing the report, and sending the receipt by mail. It was well worth the price.

 

Many will say that the extension is not a hassle but I just don't want to think about what my  balance is every month, whether I might have fallen below the minimum inadvertantly, having to get banks reports for all my monthly statements, and then have to worry about an I/O telling me my application is refused because of some techinal violation. I don't wnat to have to think about filing a TM30 when I move, a residence report every 90 days, or wondering whether next year all foreigners are going to have to have an app on their phone that that allows immigration to track them at all times.

 

However, all the agents are on hold now apparently because of the reshuffle of the top immigration officials, so i don't know if I'll be able to do another extension. And of course there's the risk involved in using an agent.

 

So I'm planning on going to Mexico. It's hard because I've been here since 2004. At that time, getting the retirement extension as a breeze. It took 15 minutes at immigration, no questions asked, and no need for money in the bank. They didn't even care if you did the 90 day reports. I was never once asked for proof of a 90 day report when I did an extension for the first 14 years.

 

But things change. Thailand isn't that cheap anymore and the value for the money isn't there anymore. I also feel like Westerners aren't really wanted anymore.

 

 

 

 

 

 

 

 

Is it safe for Americans to vacation to Cancun? What travelers should know

 

https://www.yahoo.com/news/safe-americans-vacation-cancun-travelers-131317616.html

 

Ecudor a better option, read the entire report

[MarkyM3]

On 11/6/2021 at 9:25 AM, NanaSomchai said:

I did that for a while, Portugal winter/UK Summer and then the DWP <deleted> me over and so did the Brexit.

 

"No benefits for you".

 

TL;DR: <deleted> the UK.

And why should the UK taxpayer, of which I am one, be furnishing you with benefits in these circs? Considering how lax the benefits system is in the UK and the numbers leeching off it, you must have been seriously taking the p_ss to have them withheld LOL.

 

Brexit got voted for precisely for reasons such as these, as you must surely realise? Anyone who wanted to stick around and contribute genuinely had no issues at all, as indeed millions have done. The UK has made it a lot easier than some of their bitter neighbours in the EU have for UK citizens. 

 

Having read about your Brazilian passport scheme and marriage advice, you clearly have a inventive approach to getting through life, I will say that..!

Edited November 8, 2021 by MarkyM3

[NanaSomchai]

7 hours ago, MarkyM3 said:

Having read about your Brazilian passport scheme and marriage advice, you clearly have a inventive approach to getting through life, I will say that..!

The World is full of wonders and surprises my friend.

[Jen65]

On 11/6/2021 at 5:59 PM, robertson468 said:

Eventually, perhaps, Thailand Immigration will go fully IT and devise a form that asks questions like, "have you applied for a ...............Visa before and if so what is the number of your Visa.  This, together with your full name should immediately log you on and all you have to do is go through (in the majority of cases) a YES/NO questionaire, then produce an updated bank statement to support the application.  90% of the questions could be answered this way and submitted online.  Not only would this save 1,000s of trees, but would reduce the cost of staff.  Oh, sorry this is Thailand!

wishful thinking !  whatever form Thai Immigration introduce you can be sure it will dig deep into your personal details and finances -  remember they only want your money ! 

[Mr Dome]

On 11/6/2021 at 11:45 PM, ChaiyaTH said:

Young thais are not like that much at all and it is a decade or so before they rule.

I was talking about the present. The future is a complete unknown, as SARS-COV2 taught us again.

[The Hammer2021]

On 11/8/2021 at 11:09 AM, Chris.B said:

You have got to be a Yank with that attitude.

 

British actually. Never got a full time job till I was 39 so retired at 60...

[The Hammer2021]

Currently the commercial tourist centre of Cancun has yielded to outbreaks of cartel violence.

[Jingthing]

1 hour ago, The Hammer2021 said:

Currently the commercial tourist centre of Cancun has yielded to outbreaks of cartel violence.

Funny. The Riviera Maya is ALL of Mexico now?

To me, the major downside of Mexico isn't crime but it is cost. It's considerably more expensive than Ecuador and Colombia. 

Edited November 9, 2021 by Jingthing

[olfu]

On 11/6/2021 at 12:29 AM, andy said:

Definitely visit Ecuador before jumping into retirement there.  I went to Quito and Cuenca as a tourist, find them and Ecuador as a whole just "meh..." and not that interesting.  Mexico on the other hand I've really enjoyed every time I've visited and the diversity of the food and places there would keep you busy for a long time.  I'd just ignore the "you'll be stabbed/shot as soon as you get to Mexico" comments that pop up every time Mexico is even mentioned on this board, no doubt from posters who have never set foot there...????

Yes, I never been in Mexico but Youtube  video are educational and give enough to avoid Mexico altogether.

[Jingthing]

2 minutes ago, olfu said:

Yes, I never been in Mexico but Youtube  video are educational and give enough to avoid Mexico altogether.

Depends on the youtube videos and depends on where in Mexico.

[meechai]

On 11/8/2021 at 12:07 AM, Destiny1990 said:

Well i just stopped with staying long term just like so-many other expats did. That’s a quick fix..I don’t want to live in a country were the visa process is uncomfortable and over complicated  because in the end it just discourages the foreigner for continuing his stay. I will still visit in future but just for 2/3 months trips.

Same for us & at first we were sure we made a mistake but after a year or two we realized we sure were glad we did.

It is much,much nicer visiting our Thai home for 3 months a year than living there was overall.

Now we cherry pick the 3 best months a year in Thailand (Cool season)

 

But...It helps that we live in a great spot the other 9 months though ????

Better weather no pollution no immigration, no cops hassling for petty cash etc etc

 

[Jeffr2]

2 minutes ago, meechai said:

Same for us & at first we were sure we made a mistake but after a year or two we realized we sure were glad we did.

It is much,much nicer visiting our Thai home for 3 months a year than living there was overall.

Now we cherry pick the 3 best months a year in Thailand (Cool season)

 

But...It helps that we live in a great spot the other 9 months though ????

Better weather no pollution no immigration, no cops hassling for petty cash etc etc

 

Where is your main home?  Just curious...