Have I Missed the Boat ?

[DrJack54]

1 minute ago, Dan O said:

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.

I didn't write the OP.

ONE thing stands out....

"We have NEVER lived together" 

[bunnydrops]

IF the mother will marry you and let you live in her house. The marriage visa is the way to go. I live rural and have an income of 40,000/month and rarely spend that much even paying for one of my wife's sister twin daughters though the university.  But if you are going to live in a city and pay rent, that would be very tough.

[bignok]

40 000 a month is easy outside Bangkok

[Dan O]

11 minutes ago, DrJack54 said:

I didn't write the OP.

ONE thing stands out....

"We have NEVER lived together" 

You should look at your own behavior and conduct before you judge others.

 

If that's a relationship that works for him\her its their choice or why its like that. As I said you don't know the details but that never stops your rude and obnoxious comments does it?

[In the jungle]

I have no idea what some posters in response to the OP do with their money.  Do they burn it in the back garden?  Are they financially incontinent?

 

All the posts saying OMG you will be living in poverty living on 40K a month.

 

I couldn't spend 40K a month if I tried.

 

And guys wittering on about 'lifestyle'.  What on earth are you talking about?  You need to leave off the Kool Aid. 

 

 

[DrJack54]

22 minutes ago, In the jungle said:

I couldn't spend 40K a month if I tried

Clearly you do not have wife and 11 year old child.

Guessing don't drink alcohol and never travel, as 40k might cut it for single guy eating 40b soup it won't cut it for family of 3

[bignok]

23 minutes ago, DrJack54 said:

Clearly you do not have wife and 11 year old child.

Guessing don't drink alcohol and never travel, as 40k might cut it for single guy eating 40b soup it won't cut it for family of 3

She doesnt work? How did you guess that?

[Adumbration]

1 hour ago, lordgrinz said:

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.

You forgot to figure in Inflation.  This year the ATO indexed CPI at 7.6%.  So if his 9M capital was invested at 5% he would actually be losing 2.6% or 234K THB per year.  Over ten years that is 2.34 Million baht loss.

 

That said.  He has enough money.  A mate of mine is living off just the Oz pension, with a missus and a toddler (he is in his 70s).  They rent a reasonable home and have a new car on finance.

[In the jungle]

4 minutes ago, DrJack54 said:

Clearly you do not have wife and 11 year old child.

Guessing don't drink alcohol and never travel, as 40k might cut it for single guy eating 40b soup it won't cut it for family of 3

How wrong can you be.

 

Yes I do have a wife but no children.  My wife runs her own business and could easily support me but I do not want, or ask her, to do that.

 

I eat at restaurants most days because I prefer doing that to spending time buying ingredients, cooking them and cleaning up afterwards.  I eat whatever I want and most days that is not 40 Baht soup; but sometimes it is. 

 

The house is paid for as are the three cars.  The farm generates a healthy income.  I spend about 20% of my income from abroad each month and the rest is poured into more savings and investments. 

 

I readily admit to being careful with my cash.  Mostly because I remember how damn hard it was to earn it.

 

My only real reservation in respect of the OP is about the wisdom of making the leap at his age.  Other than that if he has the determination to make a success of it go for it.  I don't think there is any need for him to torch his assets back home.  That would be unwise.  The income would be enough.

 

 

 

 

[Adumbration]

OP...if you are married how can you be receiving the full aged pension?

 

 

[bignok]

Just now, Adumbration said:

OP...if you are married how can you be receiving the full aged pension?

 

 

Married in Thai only perhaps

[Dan O]

50 minutes ago, DrJack54 said:

Clearly you do not have wife and 11 year old child.

Guessing don't drink alcohol and never travel, as 40k might cut it for single guy eating 40b soup it won't cut it for family of 3

Plenty of people can comfortably live on 40k a month.  The rest is your life style choices good or bad. 

[bignok]

1 hour ago, DrJack54 said:

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.

 

He could though. Only a part time marriage.

[Dan O]

16 minutes ago, Adumbration said:

You forgot to figure in Inflation.  This year the ATO indexed CPI at 7.6%.  So if his 9M capital was invested at 5% he would actually be losing 2.6% or 234K THB per year.  Over ten years that is 2.34 Million baht loss.

 

That said.  He has enough money.  A mate of mine is living off just the Oz pension, with a missus and a toddler (he is in his 70s).  They rent a reasonable home and have a new car on finance.

Your quoting buying power in your comments, he wouldnt lose anything other than opportunity value. 

[bignok]

27 minutes ago, Adumbration said:

You forgot to figure in Inflation.  This year the ATO indexed CPI at 7.6%.  So if his 9M capital was invested at 5% he would actually be losing 2.6% or 234K THB per year.  Over ten years that is 2.34 Million baht loss.

 

That said.  He has enough money.  A mate of mine is living off just the Oz pension, with a missus and a toddler (he is in his 70s).  They rent a reasonable home and have a new car on finance.

That doesnt make sense. Inflation changes all the time and living in Thailand he pays Thai prices.

[Adumbration]

15 minutes ago, bignok said:

Married in Thai only perhaps

You have to have a free to marry document certified by the Australian Embassy to marry here.  So no such thing as a secret marriage.

[In the jungle]

15 minutes ago, Dan O said:

Your quoting buying power in your comments, he wouldnt lose anything other than opportunity value. 

 

4 minutes ago, bignok said:

That doesnt make sense. Inflation changes all the time and living in Thailand he pays Thai prices.

I don't think the whole "masters of the universe" schtick really works in the OPs case but do carry on if you insist.

 

By that I mean Dan O!

Edited September 9, 2023 by In the jungle

[Caldera]

2 hours ago, In the jungle said:

I couldn't spend 40K a month if I tried.

It's a lot easier than you think.

[mania]

6 hours ago, lolex said:

Have I Missed the Boat ?

 

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. )

Bad News

Not to be rude but yes you have missed the boat but not the boat you think. You missed the boat of spending time with your daughter & wife. Although it is hard to tell from your post if that was something you wanted

 

Good News

You still have time. The boat you pretty much missed was the life with your Thai wife & watching your daughter growing up. The boat to move to Thailand was always there & still is.

 

You still have some great years ahead if you choose to be in her life.

 

Money wise what you describe is fine as most have said. It is not a lot but it is sufficient. Yes medical is the tough nut for all as they age but put a million or two aside for that & you should be ok.

 

But mainly realize your 72 & you probably do not qualify nor can you afford insurance. So get on with it & enjoy your final years (if you want) with your daughter & wife rather than working towards some $$$ goal.

 

At 72 you do not have all that much time left. Even if you remarkably had 20 years left that is just a blink of the eye. Remember Y2k? That was 23 years ago!

 

If you were on your death bed now what would you be saying ?

 

I wish I moved to Thailand years ago? or I wish I had more $$ to leave my daughter who I never really knew?

 

Good Luck!

Edited September 9, 2023 by mania

[bbko]

Never lived with your Thai wife and the mother of your 11 y/o daughter, and now expecting things to work smoothly? 555.

[murraynz]

12 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 !

 

You would need a lot more than 1mil baht, itself insure. 

A heart attack would cost you far far more than 500,000baht,in a Thai hospital.. 

Your 40,000 baht month income, would not be sufficient to support a wife and a child, as well. 

Your 9mill baht savings may last last 20 years if you are careful and not buy house for Thai wife or family etc etc. 

[daveAustin]

11 hours ago, Eff1n2ret said:

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.

Common misconception those amounts need to be ‘maintained’ all year. Whilst monies should be seasoned at or above 400/800 for this or that extension (marriage/retirement, for example), one is then free to draw down (as far as 400k on retirement) in the interim. To not do so might suggest one is getting monies elsewhere, such as working on the sly. Any immigration office telling folks that money HAS to be there all year is wrong.
 

Op, you haven’t missed the boat as you’re still alive. Get off the fence and get over here. You can easily get a visa and subsequent extensions. Don’t worry about dying, we’ll all do that. Come and be with your daughter, and avoid the notion of needing to leave large sums. Giving her your time and a good start is more important so she has the tools to make her own way as most of us did. 

[Yeah rightio]

7 hours ago, Adumbration said:

OP...if you are married how can you be receiving the full aged pension?

 

 

Section 24 from Centrelink, because of wife living overseas.

[Yeah rightio]

6 hours ago, Adumbration said:

You have to have a free to marry document certified by the Australian Embassy to marry here.  So no such thing as a secret marriage.

As the freedom to marry documents expire after three months, plus the fact you can use any Amphur to marry; I think it highly unlikely the Embassy will be trawling through every one of them, looking for every application to catch anyone out. 

However, returning to Australia as a couple in any circumstances would be likely to bring on an avalanche of undesirable woes....... 

[Artisi]

9 hours ago, bignok said:

Why care about the daughter so much? Care about yourself

Not everyone is as self centred as some other people, plus it is his daughter and it's faurly normal to consider your kids welfare, or it is for some. 

[BritManToo]

12 hours ago, impulse said:

I've seen so many western faces walking around Thailand looking like zombies because they underestimated future living costs. 

At 72 I don't think the op has much future to worry about.

[Hummin]

6 minutes ago, BritManToo said:

At 72 I don't think the op has much future to worry about.

Live everyday like you would live forever, I'm confident and positive that will give you a lot more pleasure than living like everyday is the last? 

 

Just a positive outlook helps

[bignok]

2 minutes ago, Hummin said:

Live everyday like you would live forever, I'm confident and positive that will give you a lot more pleasure than living like everyday is the last? 

 

Just a positive outlook helps

Set goals like you will live forever

Live each day like it's your last

[Hummin]

5 minutes ago, bignok said:

Set goals like you will live forever

Live each day like it's your last

Harmony and moderation make for a happier life

 

I lived my life like it was my last to my 36. Birthday, and still on my motorbike, I know it could be.my very last day, still, I'm not to stupid, but make room for another day as well.

[Ralf001]

1 mill don't last long if you have a serious medical turn.