GregBow Posted January 20 Share Posted January 20 Could use some helpful advice please. Been around here based out of remote Issan for many years. Worked away mostly and unfortuneately put all into land via my Thai wife to save for retirement. Yeah yeah I know. Surprise mostly gone! I have about 500k in Aus in super and at nearly 70 was thinking of going home to Perth close to the grandkids etc. My plan was to use the super to buy a simple unit in Perth and then get the old age pension to live. I am told I must stay in Aust no break for 2 years but can get the pension straight away. Worked in Aust paying tax till 97 but non resident since. Inputs please 1 Link to comment Share on other sites More sharing options...
Popular Post Nemises Posted January 20 Popular Post Share Posted January 20 (edited) That’s correct, you will get the pension straight away but it won’t become portable for two years should you want to move back overseas. You will find the cost of living very expensive compared to Isaan, but if bored and lonely in Thailand then going back to be with the grandkids etc should be a good option for you…providing the pension is enough to give you the lifestyle you want. Good luck. Let us know the outcome! Edited January 20 by Nemises 2 3 Link to comment Share on other sites More sharing options...
simple1 Posted January 20 Share Posted January 20 Sounds as though you have sufficient funds to buy an apartment and car, with money to spare. Should you wish to return to Thailand or visit elsewhere overseas for a few weeks at a time during the two year period you can do so. Obviously the decision to return to Oz is yours alone, but if you have good friends / family who love you why not return. Plus of course as you get older you will not have to worry about medical costs. Note Australia is not cheap to live, prices nave gone up, but pensioner concession card reduces some costs e.g. energy bills, public transport and so on. 1 1 Link to comment Share on other sites More sharing options...
gearbox Posted January 20 Share Posted January 20 49 minutes ago, GregBow said: Could use some helpful advice please. Been around here based out of remote Issan for many years. Worked away mostly and unfortuneately put all into land via my Thai wife to save for retirement. Yeah yeah I know. Surprise mostly gone! I have about 500k in Aus in super and at nearly 70 was thinking of going home to Perth close to the grandkids etc. My plan was to use the super to buy a simple unit in Perth and then get the old age pension to live. I am told I must stay in Aust no break for 2 years but can get the pension straight away. Worked in Aust paying tax till 97 but non resident since. Inputs please 400k for unit in Perth, 10-15k for a car, 80k stand by cash in high interest account like Ubank and full OAP... should work ok for you. You don't need to be tax resident to get a pension and seems that you lived long enough in Australia to qualify...just turn up at Centrelink and demand pension asap. You can set up camp pretty easily, probably would take you a week or two to get Medicare card and open bank accounts. 1 1 Link to comment Share on other sites More sharing options...
Celsius Posted January 20 Share Posted January 20 1 hour ago, GregBow said: Worked away mostly and unfortuneately put all into land via my Thai wife to save for retirement. Yeah yeah I know. Surprise mostly gone! So, when you posted on Thaivisa 20 years ago that you want to retire in Isaan and buy a house did people tell you not to be a fool and did you say to them mine is different? 1 11 1 Link to comment Share on other sites More sharing options...
GregBow Posted January 20 Author Share Posted January 20 21 minutes ago, gearbox said: 400k for unit in Perth, 10-15k for a car, 80k stand by cash in high interest account like Ubank and full OAP... should work ok for you. You don't need to be tax resident to get a pension and seems that you lived long enough in Australia to qualify...just turn up at Centrelink and demand pension asap. You can set up camp pretty easily, probably would take you a week or two to get Medicare card and open bank accounts. Thank you all for advice. I was born in Aus, Tassie boy but I think my hippie days like my issan days are best left behind ;) I have an Aust bank account still I have been using to get the super paid monthly which will stop when I cash it out to buy a unit Dont drive anymore, I admit my lack of competence. One query, the 2 years I need to stay in Aust does that mean I cannot leave at all for that time? I did try use the centrelink site but it confused me. Thanks again Greg Link to comment Share on other sites More sharing options...
Popular Post GregBow Posted January 20 Author Popular Post Share Posted January 20 17 minutes ago, Celsius said: So, when you posted on Thaivisa 20 years ago that you want to retire in Isaan and buy a house did people tell you not to be a fool and did you say to them mine is different? Bit of yes and no. I listened and thought she was smarter to realise retirement means no salary. But payments to make etc. I therefore follow the never spend what you cant afford to lose rule. My health is another reason and being 50 km from Bueng Kan hospital and 300 from Udon is a bit daunting. Thanks for your concern but was just looking for advice. Grreg 1 4 Link to comment Share on other sites More sharing options...
Celsius Posted January 20 Share Posted January 20 (edited) 1 hour ago, gearbox said: 400k for unit in Perth, 10-15k for a car, 80k stand by cash in high interest account like Ubank and full OAP... should work ok for you. You don't need to be tax resident to get a pension and seems that you lived long enough in Australia to qualify...just turn up at Centrelink and demand pension asap. You can set up camp pretty easily, probably would take you a week or two to get Medicare card and open bank accounts. Are you sure this is a good idea? In Canada, condo fees double (or triple) every 10 years. Here is a breakdown of all the feel I googled on a 400k condo. Interest rates won't stay high forever. Strata $2650 per quarter including $1029 into reserve fund. Council $1592 per annum Water $1160 per annum If Perth is anything like a major Canadian city, living downtown would negate any need for a car. I assume public transport is very good over there, Edited January 20 by Celsius 2 Link to comment Share on other sites More sharing options...
Will27 Posted January 21 Share Posted January 21 16 hours ago, GregBow said: Thank you all for advice. I was born in Aus, Tassie boy but I think my hippie days like my issan days are best left behind ;) I have an Aust bank account still I have been using to get the super paid monthly which will stop when I cash it out to buy a unit Dont drive anymore, I admit my lack of competence. One query, the 2 years I need to stay in Aust does that mean I cannot leave at all for that time? I did try use the centrelink site but it confused me. Thanks again Greg Leaving Australia will only affect your portability I think. So if you're intending to stay in Australia you shouldn't have a problem in holidaying. All the best mate. 1 Link to comment Share on other sites More sharing options...
GregBow Posted January 21 Author Share Posted January 21 33 minutes ago, Will27 said: Leaving Australia will only affect your portability I think. So if you're intending to stay in Australia you shouldn't have a problem in holidaying. All the best mate. Thanks all. Another thought is as I have family to stay with could I just leave the super where it is as an asset and not have a home? Is there any agent or company in Aust you could recommend to show me the best options before I broach Centrelink again? They are a little difficult to navigate through. Thanks again Link to comment Share on other sites More sharing options...
Nemises Posted January 21 Share Posted January 21 (edited) 25 minutes ago, GregBow said: Thanks all. Another thought is as I have family to stay with could I just leave the super where it is as an asset and not have a home? Is there any agent or company in Aust you could recommend to show me the best options before I broach Centrelink again? They are a little difficult to navigate through. Thanks again could I just leave the super where it is as an asset and not have a home? YES https://www.servicesaustralia.gov.au/assets-test-for-age-pension?context=22526 Edited January 21 by Nemises 1 1 Link to comment Share on other sites More sharing options...
Dan747 Posted January 21 Share Posted January 21 "GOOD LUCK" 1 Link to comment Share on other sites More sharing options...
still kicking Posted January 21 Share Posted January 21 Now I live in Perth as well just on my pension, you still can find cheap apartments I am renting since I lost everything in Thailand just don't rent a house, it will set you back just over 500.000 AUD to buy a decent 3-bedroom apartment. I am paying since 7 years just 240 AUD. The Australian pension is about 1200 AUD per fortnight. (for a single person including rent assistance and electricity assistance.) You get Medicare for free cheap medications discounted bus and train fares. I lost all my super when I moved to Thailand, so I live on my OAP. But I still can travel once or twice every year to Thailand. Never move to the Eastern States you could not live on your pension. Perth is the best city to live in. You are lucky you still have your super. 1 Link to comment Share on other sites More sharing options...
GammaGlobulin Posted January 21 Share Posted January 21 Sorry to hear you lost your land in Thailand. Link to comment Share on other sites More sharing options...
georgegeorgia Posted January 22 Share Posted January 22 They say Alice Springs is cheap to live on the old age pension And .... apparently Alice Springs has twice the amount of Centrelink offices 😳 1 Link to comment Share on other sites More sharing options...
KhunHeineken Posted January 22 Share Posted January 22 17 hours ago, still kicking said: Now I live in Perth as well just on my pension, you still can find cheap apartments I am renting since I lost everything in Thailand just don't rent a house, it will set you back just over 500.000 AUD to buy a decent 3-bedroom apartment. I am paying since 7 years just 240 AUD. The Australian pension is about 1200 AUD per fortnight. (for a single person including rent assistance and electricity assistance.) You get Medicare for free cheap medications discounted bus and train fares. I lost all my super when I moved to Thailand, so I live on my OAP. But I still can travel once or twice every year to Thailand. Never move to the Eastern States you could not live on your pension. Perth is the best city to live in. You are lucky you still have your super. What about those that haven't lost their life savings in Thailand, are they "lucky" or something else???? 1 1 1 Link to comment Share on other sites More sharing options...
KhunHeineken Posted January 22 Share Posted January 22 17 hours ago, GammaGlobulin said: Sorry to hear you lost your land in Thailand. How can you lose land that you can never really own in Thailand? The purchase money just gets redistributed to Thai's, one way or another. 1 1 Link to comment Share on other sites More sharing options...
georgegeorgia Posted January 26 Share Posted January 26 On 1/22/2024 at 5:19 AM, still kicking said: Now I live in Perth as well just on my pension, you still can find cheap apartments I am renting since I lost everything in Thailand just don't rent a house, it will set you back just over 500.000 AUD to buy a decent 3-bedroom apartment. I am paying since 7 years just 240 AUD. The Australian pension is about 1200 AUD per fortnight. (for a single person including rent assistance and electricity assistance.) You get Medicare for free cheap medications discounted bus and train fares. I lost all my super when I moved to Thailand, so I live on my OAP. But I still can travel once or twice every year to Thailand. Never move to the Eastern States you could not live on your pension. Perth is the best city to live in. You are lucky you still have your super. How did you lose everything in Thailand? Omg you even lost your super? I guess that's why your so bitter in here ? Understandable now 2 Link to comment Share on other sites More sharing options...
still kicking Posted January 26 Share Posted January 26 5 minutes ago, georgegeorgia said: How did you lose everything in Thailand? Omg you even lost your super? I guess that's why your so bitter in here ? Understandable now I am not bitter at all I still have Thai family in Thailand been married to a Thai for 20 years and travel to Thailand ones or twice every year. 2 Link to comment Share on other sites More sharing options...
georgegeorgia Posted January 26 Share Posted January 26 (edited) 4 minutes ago, still kicking said: I am not bitter at all I still have Thai family in Thailand been married to a Thai for 20 years and travel to Thailand ones or twice every year. I have nothing but empathy for you🩷 ,you worked hard all your life and lost all your savings and superannuation in Thailand somehow , now your back in Australia at nearly 80 forced to rent a house and wash dishes in a restaurant on a Saturday night . Mate I would be bitter too , I hope it works out for you old-timer ,enjoy your trips although it's not the same as living there obviously,all the best 😉 Edited January 26 by georgegeorgia 3 1 Link to comment Share on other sites More sharing options...
still kicking Posted January 26 Share Posted January 26 2 minutes ago, georgegeorgia said: I have nothing but empathy for you🩷 ,you worked hard all your life and lost all your savings and superannuation in Thailand somehow , now your back in Australia at nearly 80 forced to rent a house and wash dishes in a restaurant on a Saturday night . Mate I would be bitter too , I hope it works out for you old-timer You got it wrong 1 1 Link to comment Share on other sites More sharing options...
Furioso Posted January 26 Share Posted January 26 I would go back to Perth to get the pension but don't buy an apartment with the super. After 2 years leave and go back to Thailand or another cheap/fun place to live. 1 Link to comment Share on other sites More sharing options...
still kicking Posted January 26 Share Posted January 26 6 minutes ago, Furioso said: I would go back to Perth to get the pension but don't buy an apartment with the super. After 2 years leave and go back to Thailand or another cheap/fun place to live. I guess toy haven't read the whole story. 1 Link to comment Share on other sites More sharing options...
Popular Post Will27 Posted January 27 Popular Post Share Posted January 27 10 hours ago, georgegeorgia said: I have nothing but empathy for you🩷 ,you worked hard all your life and lost all your savings and superannuation in Thailand somehow , now your back in Australia at nearly 80 forced to rent a house and wash dishes in a restaurant on a Saturday night . Mate I would be bitter too , I hope it works out for you old-timer ,enjoy your trips although it's not the same as living there obviously,all the best 😉 You mop floors for a living don't you? At least he's lived here. Unlike yourself who just continually talks about it. 1 1 1 6 2 Link to comment Share on other sites More sharing options...
KhunHeineken Posted February 1 Share Posted February 1 On 1/26/2024 at 5:00 PM, Furioso said: I would go back to Perth to get the pension but don't buy an apartment with the super. After 2 years leave and go back to Thailand or another cheap/fun place to live. You didn't mention anything about not making the same mistake twice. Many do. 1 1 1 Link to comment Share on other sites More sharing options...
still kicking Posted February 1 Share Posted February 1 (edited) On 1/27/2024 at 12:24 AM, still kicking said: You got it wrong Your old timer has this Edited February 1 by still kicking picture missing Link to comment Share on other sites More sharing options...
still kicking Posted February 1 Share Posted February 1 And this Link to comment Share on other sites More sharing options...
georgegeorgia Posted February 1 Share Posted February 1 Still kicking if you own those how would you get the old age pension? You can live in one that's ok your own house is not counted,so you don't declare the investment property's? Link to comment Share on other sites More sharing options...
impulse Posted February 2 Share Posted February 2 (edited) On 1/20/2024 at 4:16 PM, gearbox said: 400k for unit in Perth, If Aus is anything like the USA, it's not the same place we left many years ago. Not sure someone would want to tie up 80% of their assets in buying a home, especially given that he hasn't lived in Aus for many years. He may want to spend a year or 3 getting the lay of the land before he ties himself so firmly to one location. There's also a reasonable chance that he may decide he's better off back in Thailand, just not in the same situation. Edited February 2 by impulse Link to comment Share on other sites More sharing options...
KhunHeineken Posted February 2 Share Posted February 2 14 hours ago, georgegeorgia said: Still kicking if you own those how would you get the old age pension? You can live in one that's ok your own house is not counted,so you don't declare the investment property's? Don't mention any possible fraudulent activity, or tax evasion, someone might beg the Mods to have you banned for life. Link to comment Share on other sites More sharing options...
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