Did you just go on the spur of the moment

[Nemises]

7 hours ago, EVENKEEL said:

You mean if you have xxx amount of savings you can't collect the government money?

If you plan ahead and park your million dollar savings elsewhere 5 years prior to retirement age, then (in the OP's case) he would still collect the full old age AU pension - currently about 45k baht per month for an offshore retiree, indexed to inflation. If you don't plan ahead, then yes, the person mentioned in the OP would miss out collecting this government money.

 

 

Edited October 1, 2023 by Nemises

[charleskerins]

On 9/29/2023 at 9:18 PM, Countryman said:

I did exactly the same thing 35 years ago , small bag of belongings ,

had enough money , never looked back ,never been back to UK , so

it is possible to make it.

 

 

Bravo

 

[rwill]

Let him live his own life.

[Elkski]

21 hours ago, newnative said:

     I think we all understand inflation.  I stick by my answer that 23 million baht can be enough for your friend to live in Thailand for the rest of his life.  Note, 'can be'.  If he blows it all the first few years making bad choices or spending beyond his means, that's another story. 

    Usually the biggest expense is keeping a roof over your head.  If he spends 3 MB to buy a condo, no matter what inflation does, he'll have that roof over his head for the rest of his life with only maintenance charges and utilities to pay for, which are very reasonable in Thailand.  

     That leaves him 20MB.  Spending 60,000 baht a month, the money would last for 27.7 years.  Obviously, spending less, which could easily be done, would stretch the money for more years.  He gets 33.3 years if he spends 50,000 baht a month.   50,000 a month is around 1,600 baht a day.    Some days he might spend more than the 1,600, other days he might spend much less.  In any case, it should be enough.  50,000 baht a month would fund him until the age of 95.

     If he is still alive when the money is starting to run out, he has the option to sell his condo and use the proceeds to live on while he rents or goes into a nursing home for his final years.   All this is assuming the 20MB is just lounging around eating bon-bons and watching soap operas all day.  Some of it can be put to work and invested safely to earn some interest or dividends, which would stretch the money for a longer period.

     

But what if he thinks about planning for his 20 yr younger wife?  Or leaving his kids anything? Then its not plan to die the day the overdraft hits. 

[NORDO]

He is obviously living his dark days presently.  Nothing wrong to escape the environment that caused those dark days.

TELL HIM…do not hook up with a young gal and promise her the world or marriage .   She will lie to him and milk his bank account  dry.  There is more than one cute lassie in Thailand.

There is no need to marry at his age.   Get a nice home (rent or buy) and hire a nice housekeeper. Pay her well.   Take holidays with her.  Treat her exceptionally good.   Record some of the conversations she has with her friends and have them translated.  I did and it presented the real person my ex was.  But never elevate her above housekeeper status.  That would be like giving the Fox a key to the henhouse.  jing-jing.

But never, ever marry again. There is no need for it.  You can have a life long relationship with out the “ball and chain” of marital legal constrictions.  If he is utterly stupid enough to marry again, only do it in the Temple…do not register it.  Marriage is just a path to your destruction.

It is a preacher / politician founded concept to rid you of your monies and rights.

[thaibeachlovers]

On 9/30/2023 at 6:03 PM, Neeranam said:

I'd rather live in Australia than Thailand. 

What's stopping you?

[thaibeachlovers]

1 hour ago, Elkski said:

But what if he thinks about planning for his 20 yr younger wife?  Or leaving his kids anything? Then its not plan to die the day the overdraft hits. 

Why assume he will have kids? Not all of us fall for that scam.

[PJ71]

On 9/30/2023 at 12:51 PM, georgegeorgia said:

I love all your posts but you lack "planning" 

What if he gets sick ?

He is 60 next month ,he won't get the old age pension (67)  because he obviously won't come back. And obviously they won't pay you with a lot of money in the bank 

 

It's planning that's lacking , life just can't fall into place ,it must be planned.

Running away to another country to be escape past life 

 

23 million baht only , no house in Australia, no support , what if something happens?

What if he is involved in a accident or legal dispute in Thailand, how long does 23 million last a 60yo man ? 

 

 

Colleagues tried talking him out of it and to get a job in a petrol station at night or Bunnings hardware store but he was. Emotional 

Sounds to me like you're scared of you're own shadow.

[mania]

23 hours ago, georgegeorgia said:

This is why at 62 I'm doing a lot of overtime at work even 12 hour shifts which is killing me but I don't have enough to last me until 100 which I have a plan for 

I am not saying dont plan but....I have seen too many go too far chasing & in your own words "even 12 hour shifts which is killing me "  Then they die chasing...But everyone has their own level of risk tolerance.

Edited October 2, 2023 by mania

[newnative]

1 hour ago, Elkski said:

But what if he thinks about planning for his 20 yr younger wife?  Or leaving his kids anything? Then its not plan to die the day the overdraft hits. 

     You can have endless 'But what if...'s.   What if this.  What if that.  What if he does this, what if he does that.   Of course, the choices he makes with the 23MB will determine whether it will last his lifetime in Thailand or be gone after a few years.  My post simply showed that it is possible for someone 62 years old to live reasonably well on that amount in Thailand, and the money could be enough for the likely number of years he has left.  

     I imagine there are a number of retirees here living on a pension of around 50,000 baht a month, more or less.  After 38 years, with no COLAs, the pension would have paid out to them around 23MB.  It's really no different for the subject of this thread.  His 23MB is his pension.  The only difference is he is the pension manager--and he can raise or lower the monthly amount he receives.

[Middle Aged Grouch]

Always quite amusing and sad to see the 60 year olds trudging to keep up with their skinny 25 year old "wives"...

[georgegeorgia]

1 hour ago, thaibeachlovers said:

What's stopping you?

Strangely living in Sydney a big city in Australia we have Thai town but I never see thai people in permanent employment unlike Filipino, so it tells me that Thai people don't want to stay in Australia.

 

Filipinos are everywhere in Sydney in government jobs but I never see Thai people,they are all just in casual waiter ,kitchen hand positions which tells me they are not looking to immigrate 

[Olmate]

1 minute ago, georgegeorgia said:

Strangely living in Sydney a big city in Australia we have Thai town but I never see thai people in permanent employment unlike Filipino, so it tells me that Thai people don't want to stay in Australia.

 

Filipinos are everywhere in Sydney in government jobs but I never see Thai people,they are all just in casual waiter ,kitchen hand positions which tells me they are not looking to immigrate 

Thais cannot get work visas to Aus, hard enough to get tourist visa

[georgegeorgia]

3 minutes ago, Olmate said:

Thais cannot get work visas to Aus, hard enough to get tourist visa

Ok I didn't know that, 

I guess chefs maybe a exception though 

 

[SiSePuede419]

[SiSePuede419]

37 minutes ago, Olmate said:

Thais cannot get work visas to Aus

My wife's friend got a work visa to pick crops.

 

Still there.  Got married.  Had kids.  Divorced.  Became Australian citizen.

 

Still humble and working in the fields.  Also makes money by getting other hardworking Thais to come to Australia to pick crops.

 

They're doing what Australians are too lazy to do (for the money they want to pay).  I'm sure agriculture work is hard work, but Thais have done exactly that back in Thailand.  Why not do the same thing in Australia and make more money doing it? ????

 

 

[Neeranam]

2 hours ago, thaibeachlovers said:

What's stopping you?

So much easier to get a visa, and citizenship in Thailand. 

If I had applied before I was 27, I could have done it, but I was an alcoholic then and messed it up.

I could probably have played professional footy.

Would like to buy a holiday home when retiring in 5 or 10 years. 

Ideally, 1 month  in my but n ben in the Scottish highlands, 5 months in Oz, 4 months in Thailand, 2 month in India or other countries, depending on where my kids are; they don't want to live in Thailand for sure after experiencing the great things when staying on Hampton beach for 6 weeks, and Scotland. 

 

Edited October 2, 2023 by Neeranam

[PJ71]

24 minutes ago, Neeranam said:

So much easier to get a visa, and citizenship in Thailand. 

If I had applied before I was 27, I could have done it, but I was an alcoholic then and messed it up.

I could probably have played professional footy.

Would like to buy a holiday home when retiring in 5 or 10 years. 

Ideally, 1 month  in my but n ben in the Scottish highlands, 5 months in Oz, 4 months in Thailand, 2 month in India or other countries, depending on where my kids are; they don't want to live in Thailand for sure after experiencing the great things when staying on Hampton beach for 6 weeks, and Scotland. 

 

where in scotland out of interest?

[Olmate]

43 minutes ago, SiSePuede419 said:

My wife's friend got a work visa to pick crops.

 

Still there.  Got married.  Had kids.  Divorced.  Became Australian citizen.

 

Still humble and working in the fields.  Also makes money by getting other hardworking Thais to come to Australia to pick crops.

 

They're doing what Australians are too lazy to do (for the money they want to pay).  I'm sure agriculture work is hard work, but Thais have done exactly that back in Thailand.  Why not do the same thing in Australia and make more money doing it? ????

 

 

Well.done,would be interesting to hear more on such work visa, nowadays such agriculture Oz workers come from.south pacificeg.fiji somoa 

[Will27]

1 hour ago, Olmate said:

Well.done,would be interesting to hear more on such work visa, nowadays such agriculture Oz workers come from.south pacificeg.fiji somoa 

The majority of Thai's working in Oz would be on student visas IMO.

[Expat68]

On 9/30/2023 at 8:38 AM, Will27 said:

Yep

 

Had a mate from the UK who was loaded.

Was 67 and still working in a highly paid job plus getting a service pension.

 

Had a Thai wife in Thailand.

He used to come for holidays twice a year and fly her over to England twice a year.

 

Last time he was here a few years ago, I caught up with him and asked him why he didn't relocate to Thailand as he loved it here.

"A few more years" he kept telling me.

 

Caught Covid in Spain on a work trip a month later and died.

Life is now drink it whilst it is Fizzing. Many people in the world are not as lucky as us, we are still here

[Neeranam]

2 hours ago, PJ71 said:

where in scotland out of interest?

My brother has a little summer cottage in Ballater, very near the river and golf course, beautiful views/walks there.

[PJ71]

1 hour ago, Neeranam said:

My brother has a little summer cottage in Ballater, very near the river and golf course, beautiful views/walks there.

Royal Deeside, yes....very nice.

 

I looked at a static home along deeside for the summer months ( days ), just before Banchory, it's lovely up there. Used to go camping as a lad up at Linn o' Dee and Marlodge etc - great memories.

[Olmate]

46 minutes ago, PJ71 said:

Royal Deeside, yes....very nice.

 

I looked at a static home along deeside for the summer months ( days ), just before Banchory, it's lovely up there. Used to go camping as a lad up at Linn o' Dee and Marlodge etc - great memories.

Static homes are just so cool hey! ????

[PJ71]

6 minutes ago, Olmate said:

Static homes are just so cool hey! ????

You're Australian, so obviously no idea about FA.

 

Apology accepted.

[Olmate]

Just now, PJ71 said:

You're Australian, so obviously no idea about FA.

 

Apology accepted.

Trailer trash is the term pj

[PJ71]

4 minutes ago, Olmate said:

Trailer trash is the term pj

You're american?

 

 

[noobexpat]

1 hour ago, Olmate said:

Static homes are just so cool hey! ????

Quite expensive in UK. Minimum 3 million baht??

I have a client who has one, probably paid 7m baht UK equivalent. Just a weekend getaway. Had starlink fitted too.

[Olmate]

38 minutes ago, noobexpat said:

Quite expensive in UK. Minimum 3 million baht??

I have a client who has one, probably paid 7m baht UK equivalent. Just a weekend getaway. Had starlink fitted too.

Great,  guessing thats just the type pj was"looking at"! 

[rickudon]

On 10/1/2023 at 7:42 AM, georgegeorgia said:

How did U live each year ?

You must of budgeted carefully 

Budgeted for the next 7 years, until state pension kicked in. Now just about break even, still have half a million savings in Baht left.