Have I Missed the Boat ?

[lolex]

I need some good advice.

I fear I might have "missed the boat" as far as making a move to Thailand. I had planned to move 7 or so years ago ...and I kept abreast of ThaiVisa and government requirements for retired folk living in LOS until about 5 or so years ago. ThaiVisa is AseanNow ....and, somehow, I find it more difficult to find the info I'm looking for....that's probably my fault !

 

So some background. I'm 72. Australian. I have a luuk kreung daughter who is 11 years old and a Thai wife. We've never lived together but we get on well when I've stayed for a few months. I'm still working ( to generate money to help maintain my superannuation. )

 

Now I could sell up in Australia...raise around B9m and get a pension of about B40,000 per month. But if I live another 15 years the capital might not last long enough to leave some money to my daughter

I understand about the marriage visa and reporting requirements. That's ok. Two things I don't understand.

 

First...medical insurance or self-insurance. I think you can self-insure by putting B1m in a bank account. But what happens if you need to use half of it for a heart attack? Do you have to replenish it? And will they chuck you out if you can't top it back up. (The prices for annual insurance over 70 appear exorbitant.)

 

Second, the Government seems to have been becoming less and less welcoming and comfortable with ordinary farangs (as opposed to super wealthy ones) in the last 10 years. It could change with the new Government, but who knows which way? I worry that the government might continue raising the bar until I'm no longer able to stay (but I've burned my boats in Australia).

 

Any good information and sound thoughts appreciated !

 

[bignok]

Cambodia has a $300 a year visa. No other hassles. Live in Siem Reap and fly to Thailand every 2nd month. Thais can visit Cambodia easy.

 

 

[stoner]

the boat left 20 years ago. 

[impulse]

If you have decided you've missed the boat, consider yourself lucky that you figured it out before you plowed everything you own into Thailand. 

 

I've seen so many western faces walking around Thailand looking like zombies because they underestimated future living costs.  Especially health care, but also the costs created by the changes in visa rules.  Like boiling frogs, their lives get smaller and smaller every year, but not quite bad enough to pack it in. 

 

And I've seen a lot of them that did pack it in when their "visa scheme" (whatever it was) slams shut.  Saw tons of them pack up and move out after the coup, when back to back land visa runs became impossible... 

 

Also saw a bunch that had to leave when immigration decided they had to keep their 400K or 800K in the bank all year long.  Who knows what hurdles they're going to reset next year...

 

Edited September 9, 2023 by impulse

[Eff1n2ret]

24 minutes ago, lolex said:

First...medical insurance or self-insurance. I think you can self-insure by putting B1m in a bank account. But what happens if you need to use half of it for a heart attack? Do you have to replenish it? And will they chuck you out if you can't top it back up. (The prices for annual insurance over 70 appear exorbitant.)

I agree that health insurance will be very expensive and keeping a fund to pay for your healthcare is the way to go. However, I don't understand what you mean by "will they chuck you out if...". There is no immigration requirement to keep B1m for "self-insurance". The requirements are 800k for retirement purposes or 400k for marriage. If you can't maintain those amounts then you are liable to be refused an extension when you next apply. 40k a month is not much to keep a wife and child on and have any sort of lifestyle, unless your wife is contributing.

[Hummin]

Bring your daughter to Australia if you care about her future! 

 

Easier for her to get proper education there the next 10 years, and then she is on her own, and can choose what she want to do with here life.

 

If moving to Thailand, what can your assets do for your monthly income instead of selling it?

Edited September 9, 2023 by Hummin

[FritsSikkink]

12 minutes ago, impulse said:

If you have decided you've missed the boat, consider yourself lucky that you figured it out before you plowed everything you own into Thailand. 

 

I've seen so many western faces walking around Thailand looking like zombies because they underestimated future living costs.  Especially health care, but also the costs created by the changes in visa rules.  Like boiling frogs, their lives get smaller and smaller every year, but not quite bad enough to pack it in. 

 

And I've seen a lot of them that did pack it in when their "visa scheme" (whatever it was) slams shut.  Saw tons of them pack up and move out after the coup, when back to back land visa runs became impossible... 

 

Also saw a bunch that had to leave when immigration decided they had to keep their 400K or 800K in the bank all year long.  Who knows what hurdles they're going to reset next year...

 

Not living with your child could be a burden for some parents.

[bignok]

1 hour ago, stoner said:

the boat left 20 years ago. 

20 to 50yo Thailand is better

[DrJack54]

2 hours ago, lolex said:

 

So some background. I'm 72. Australian. I have a luuk kreung daughter who is 11 years old and a Thai wife. We've never lived together but we get on well when I've stayed for a few months

Are you joking.

You state "never lived together" 

Get on well "when I have stayed for few months.

 

Don't kid yourself that you are a parent or what many would consider a husband/partner.

 

To top it off you are elderly and some would class as poor with a 40k monthly income.

 

The train has left the station. 

 

At best you could live ongoing on extensions based on marriage which requires 400k in bank for only 2 months. 

Edited September 9, 2023 by DrJack54

[Shop mak]

Your gut feeling tells you that you have missed the boat.

Trust you gut feeling, it's seldom wrong.

 

Can you find any insurance that will accept you at age 72?? I doubt it, previous topics mentioned max age 60, a few 65. Yearly premium at your age maybe 6,000 Usd+ for a good insurance.

 

Time has changed. B1m for emergency and self insure isn't enough these days.

At least B3m for serious medical emergency at age 70+ in private Hospital and 14 days hospitalization. First days can be 60-70k and add on surgery in range B300k to B3m.

Public hospital 10-20k day, surgery way less than above.

 

We expect some changes to married visa and retirement, although personally I don' think it will be as much as some fear. Was a topic about that 1-2 months ago here.

 

B9m if you sell everything, but do you think that is a smart move?

Many of my expats friend surprisingly moved back home to their country due to serious health diagnose, most was age 65+

You want to move away from home. At 72.

If you kept 2/3 of your assets back home or in separate emergency fund, and added 1/3 to your monthly pension, you would have 56,000 monthly. Enough for a family of 3 living in the province.

 

As other mentioned, bring your daughter (and wife) to Australia. Daughter get excellent education and english

You can continue work as long you feel for it. And when health decline, you have medical care you're used to. Win. Win.

 

You missed the boat, choose a better alternative, bring your family there.

 

Edited September 9, 2023 by Shop mak

[DrJack54]

33 minutes ago, Shop mak said:

As other mentioned, bring your daughter (and wife) to Australia. Daughter get excellent education and english

I find these type of posts poor advice.

The OP via his own statement has not even lived with "wife and daughter" 

Typical farang statement to imply improving daughter life by moving to Oz.

 

Clearly not a wealthy guy and being Oz I'm aware of cost living there.

The OP pension is 40k baht. 

[Dan O]

2 hours ago, lolex said:

I need some good advice.

I fear I might have "missed the boat" as far as making a move to Thailand. I had planned to move 7 or so years ago ...and I kept abreast of ThaiVisa and government requirements for retired folk living in LOS until about 5 or so years ago. ThaiVisa is AseanNow ....and, somehow, I find it more difficult to find the info I'm looking for....that's probably my fault !

 

So some background. I'm 72. Australian. I have a luuk kreung daughter who is 11 years old and a Thai wife. We've never lived together but we get on well when I've stayed for a few months. I'm still working ( to generate money to help maintain my superannuation. )

 

Now I could sell up in Australia...raise around B9m and get a pension of about B40,000 per month. But if I live another 15 years the capital might not last long enough to leave some money to my daughter

I understand about the marriage visa and reporting requirements. That's ok. Two things I don't understand.

 

First...medical insurance or self-insurance. I think you can self-insure by putting B1m in a bank account. But what happens if you need to use half of it for a heart attack? Do you have to replenish it? And will they chuck you out if you can't top it back up. (The prices for annual insurance over 70 appear exorbitant.)

 

Second, the Government seems to have been becoming less and less welcoming and comfortable with ordinary farangs (as opposed to super wealthy ones) in the last 10 years. It could change with the new Government, but who knows which way? I worry that the government might continue raising the bar until I'm no longer able to stay (but I've burned my boats in Australia).

 

Any good information and sound thoughts appreciated !

 

Despite what one of the old bitter commenters wrote yes you can make it but lifestyle changes may be in order. I say that as you really havent given a lot of detail\background and other than many being noisy its not needed. There is no required self-insured option although healthcare is required (expensive) depending on the visa you get. Cost of living is much cheaper in Thailand so with planning it shouldn't be a problem although you wont live like a king it can be quite comfortable. I would make a plan to feel out everything before making anything permanent selling out completely in AU or in buying a house etc here until you see how your relationship is fairing. Then you can adjust as you need or see fit.

[stoner]

2 hours ago, impulse said:

Also saw a bunch that had to leave when immigration decided they had to keep their 400K or 800K in the bank all year long. 

not true.

[DrJack54]

13 minutes ago, Dan O said:

. I say that as you really havent given a lot of detail\background and other than many being noisy its not needed

Read this 3 times from the OP..

 

"I'm 72. Australian. I have a luuk kreung daughter who is 11 years old and a Thai wife. We've never lived together but we get on well when I've stayed for a few months."

 

That's not remotely a husband and father. 

Laughable thread. 

[Furioso]

Do whatever is best for your daughter and her mother. Live a very healthy lifestyle.

 

We're very lucky we have options, most people in the world don't have what we have. 

[bignok]

13 minutes ago, DrJack54 said:

Read this 3 times from the OP..

 

"I'm 72. Australian. I have a luuk kreung daughter who is 11 years old and a Thai wife. We've never lived together but we get on well when I've stayed for a few months."

 

That's not remotely a husband and father. 

Laughable thread. 

Why do you care? 

[n00dle]

3 hours ago, stoner said:

the boat left 20 years ago. 

im not certain its even a boat anymore

[n00dle]

24 minutes ago, DrJack54 said:

Read this 3 times from the OP..

 

"I'm 72. Australian. I have a luuk kreung daughter who is 11 years old and a Thai wife. We've never lived together but we get on well when I've stayed for a few months."

 

That's not remotely a husband and father. 

Laughable thread. 

who are you to judge?

 

[n00dle]

3 hours ago, lolex said:

So some background. I'm 72. Australian. I have a luuk kreung daughter who is 11 years old and a Thai wife.

you have some options. you can live here on a retirment visa, a marriage visa -- the requirments are not as stringent as you seem to beleive. You can also get a visa based on visiting your daughter until she is 18. Im noit sure however if the marriage complicates that. 

 

[DrJack54]

1 minute ago, n00dle said:

who are you to judge?

 

I have an opinion.

You are entitled to yours..

Again from OP words....

 

"We've never lived together but we get on well when I've stayed for a few months."....

 

Part time husband father.

"We have never lived together" 

 

"When I have stayed few months" 

 

Thread is a wind up surely

 

[n00dle]

1 minute ago, DrJack54 said:

I have an opinion.

You are entitled to yours..

Again from OP words....

 

"We've never lived together but we get on well when I've stayed for a few months."....

 

Part time husband father.

"We have never lived together" 

 

"When I have stayed few months" 

 

Thread is a wind up surely

 

and if it is real, as one of the few folks around in a position to offier accurate advice, you refuse it on moral grounds. gotcha 

[DrJack54]

1 minute ago, n00dle said:

and if it is real, as one of the few folks around in a position to offier accurate advice, you refuse it on moral grounds. gotcha 

From one of my previous posts..

"At best you could live ongoing on extensions based on marriage which requires 400k in bank for only 2 months" 

 

So I have posted easy option.

If you cannot read into the OP his main concern is not family.

 

Again read from OP "WE HAVE NEVER LIVED TOGETHER" ????

 

[ViajeroLA]

3 hours ago, lolex said:

.. Now I could sell up in Australia...raise around B9m and get a pension of about B40,000 per month. But if I live another 15 years the capital might not last long enough to leave some money to my daughter...

 

Your daughter would prefer to see you happy these years ????  There's only one way to not miss the boat - to jump in!

 

I don't think you need a medical insurance with the family visa; I was never asked for one; maybe after a certain age the rules change? But that'll be weird, that's not a retiree visa... The embassy should know, but my mission is to tell you as the son: if you really think about the daughter, just move!

[bignok]

Why care about the daughter so much? Care about yourself

[lordgrinz]

Interesting read, exactly what do the commentors consider to be ideal finances to move to Thailand? He says he has 9 Million Baht and 40,000 baht per month pension at 70 years old, that's probably more than most of the people posting here have, otherwise what are they using agents for? Personally, he should leave the 9 million in his home country gaining interest at 5%+, or invest in stocks, and moving some of that interest over every year, the interest alone is almost as much as his pension, which would give him almost 80,000 baht per month at current rates.

[DrJack54]

4 minutes ago, ViajeroLA said:

I don't think you need a medical insurance with the family visa; I was never asked for one; maybe after a certain age the rules change?

There is no insurance requirement for non O extensions based on marriage or retirement.

The only insurance requirement is for extension based on retirement from a non O-A 

[simon43]

Or just live in Laos on the other side of the Friendship Bridge.  A 'retirement' visa costs $750 a year through an agent, no medical insurance or money in the bank required.

[bignok]

3 minutes ago, simon43 said:

Or just live in Laos on the other side of the Friendship Bridge.  A 'retirement' visa costs $750 a year through an agent, no medical insurance or money in the bank required.

Whats the minimum age?

[Dan O]

53 minutes ago, DrJack54 said:

Read this 3 times from the OP..

 

"I'm 72. Australian. I have a luuk kreung daughter who is 11 years old and a Thai wife. We've never lived together but we get on well when I've stayed for a few months."

 

That's not remotely a husband and father. 

Laughable thread. 

You are no one to judge others and you don't know the whole history only the snap shot he wrote. Your comments are pathetic but usual for you.

[DrJack54]

2 minutes ago, simon43 said:

Or just live in Laos on the other side of the Friendship Bridge.  A 'retirement' visa costs $750 a year through an agent, no medical insurance or money in the bank required.

Seriously?

The wife and daughter are Thai.

And no way would want to live in Laos.

Also the OP has much cheaper option to live in Thailand being married to Thai national.

Annual Extension 1900 baht with easy financials.