Giving up

[KhunHeineken]

On 2/26/2024 at 3:57 AM, Old Croc said:

I consider the fools to be those who have to live off the pittance handout from the government. 

Some may say the fools are the ones that work all their life, just to give the money to those that have never worked a day in their life. 

[KhunHeineken]

On 2/24/2024 at 10:05 PM, georgegeorgia said:

Still kicking tells a lot of lies unfortunately

Not sure why ,he has 2 investment property's he said but rents out a small flat in the outskirts of Perth 

 

And gets the OAP even though his wife works and his rental income .

I guess if the investment properties were in her name and she is not married to him and living at a different address it could be done

Which would be illegal, and if / when they catch up with him, not only is there the fine, but he'll have to pay it all back. 

 

Actually, for a case like this, he very well may be criminally charged with fraud. 

[Old Croc]

16 hours ago, KhunHeineken said:

Some may say the fools are the ones that work all their life, just to give the money to those that have never worked a day in their life. 

That's certainly one way to approach the situation, but becoming one of the indolent living on the dole would not be my lifestyle choice.

Good luck with your retirement on the government purse.

[GregBow]

On 2/29/2024 at 9:42 AM, Old Croc said:

That's certainly one way to approach the situation, but becoming one of the indolent living on the dole would not be my lifestyle choice.

Good luck with your retirement on the government purse.

Guys

One and all, thanks for all the comments.

There is a nugget of truth and good in each of them and I take what I can.

I looked at renting but it really even with rent assistance eats up most of the pension for something decent.

Keeping my super and investing reduces the OAP.

I had some help to review options as I intend to stay here (Aus) mostly now.

I have bought a nice comfortable unit that will appreciate and after all costs will roll 100k into interest account.

I can live well enough for me on the OAP which I earned by the taxes i paid for years of remote work and OT till I left Aus.

Again 

Thanks for the advice and help.

Be well

[4MyEgo]

3 hours ago, GregBow said:

I have bought a nice comfortable unit that will appreciate and after all costs will roll 100k into interest account.

I can live well enough for me on the OAP which I earned by the taxes i paid for years of remote work and OT till I left Aus.

 

Well done, rent is dead money, and makes it not feasible to return for the 2 years to have the Age Pension portable, it is the only country in the world that does this, and gets away with it, suffice to say, all options have to be considered, sadly for most, who have no other source of funds, if they return, it will be a $hitty existence for those 2 years.

 

For those that don't have the funds like GregBow to purchase a unit to save on the loss of rent, which means they will hardly have anything left from the Age Pension to live on, forget renting in (Sydney/Melbourne) as the Age Pension won't make it for a one bedroom apartment. 

 

@GregBow you seem to have it sorted, as your Age Pension will be reduced minimally as having investments attracts a reduced Age Pension, e.g. if you have $450k in investments, they reduce your pension by $10,150 a year, about 40%, but with your $100k after applying for SAPTO you should have nothing reduced.

 

Good luck with your new life and if you do decide to return here after 2 year, if you rent, remember, there goes your pension basically, and you won't be able to claim any outgoings on your property as you will be a resident of Thailand after 180 days, then you have the Capital Gains Tax to pay down the track.

 

Ah the lucky country. 

[still kicking]

On 2/28/2024 at 4:41 PM, KhunHeineken said:

Which would be illegal, and if / when they catch up with him, not only is there the fine, but he'll have to pay it all back. 

 

Actually, for a case like this, he very well may be criminally charged with fraud. 

So, I tell lies? The 2 properties are not in my name comprente? I still get my full single pension and how many times do I have to post this I have a different address then my wife we live separated. And yes, I still pay 240 AUD on rent for a 2-bedroom unit for 8 years now. Don't believe it? Ask the OP to visit me since he is in Perth now and I posted my copy of my rent payment before. You haven't got a clue.

[KhunHeineken]

On 3/3/2024 at 3:52 PM, still kicking said:

So, I tell lies?

Which can have consequences. 

 

On 3/3/2024 at 3:52 PM, still kicking said:

The 2 properties are not in my name comprente?

Which is interesting if you have a Thai wife. 

 

She might just see a solicitor on the side and make a will leaving YOUR two houses not to YOU, should she pass first.  

 

On 3/3/2024 at 3:52 PM, still kicking said:

I still get my full single pension and how many times do I have to post this I have a different address then my wife we live separated. And yes, I still pay 240 AUD on rent for a 2-bedroom unit for 8 years now. Don't believe it? Ask the OP to visit me since he is in Perth now and I posted my copy of my rent payment before. You haven't got a clue.

Perhaps you are renting the property you bought, but put in your wife's name, for cheap rent.  I don't know, and I don't care, but as you said, "I tell lies" and government data bases are now chatting to each other like never before.

 

Just for the record, are you stating what you are doing is completely legal, or not? 

[KhunHeineken]

On 3/3/2024 at 6:57 AM, GregBow said:

I had some help to review options as I intend to stay here (Aus) mostly now.

The advice I gave, and some others, was due to you saying you would like to go back to Thailand to live in the future. 

 

I wouldn't had given the advice I did, if you were going to live in Australia for the foreseeable future. 

[georgegeorgia]

If your married , your wife's property is yours too.

AND you can't  claim the OAP if your partner is working 

 

Your OAP is based also on  your partners income and assets they are also half yours 

 

She doesn't need to make a Will and even if she did the partner takes it first ....it's a marriage 

 

So if he gets the OAP , he can't be married ,she lives at a different address or declared a different address, he doesn't declare he has a partner 

 

Edited March 28 by georgegeorgia

[GregBow]

On 3/24/2024 at 5:31 PM, KhunHeineken said:

The advice I gave, and some others, was due to you saying you would like to go back to Thailand to live in the future. 

 

I wouldn't had given the advice I did, if you were going to live in Australia for the foreseeable future. 

Thanks to you and the others for the inputs.

All have value and were part of the decision process to leave

1.For a while get set up and return to Thai

2. Get set up and just visit Thai occasionally.

3. Try it and see how it goes.

As i went down the path of getting my pension and medicare set up then buying a unit, the choices get a bit more murky but I will stay a while and have a life with family here a bit

As I said I appreciated all the inputs which covered all the options

Thanks all

 

 

[KhunHeineken]

On 3/29/2024 at 12:40 PM, GregBow said:

Thanks to you and the others for the inputs.

All have value and were part of the decision process to leave

1.For a while get set up and return to Thai

2. Get set up and just visit Thai occasionally.

3. Try it and see how it goes.

As i went down the path of getting my pension and medicare set up then buying a unit, the choices get a bit more murky but I will stay a while and have a life with family here a bit

As I said I appreciated all the inputs which covered all the options

Thanks all

 

 

Have you considered that in purchasing a property, that only suits residing in Australia for several years.  Anything other than that and you lose money on that property deal, unless zoning changes, or there is a new development go up nearby that raises the value of your property overnight. 

[GregBow]

On 4/6/2024 at 4:41 PM, KhunHeineken said:

Have you considered that in purchasing a property, that only suits residing in Australia for several years.  Anything other than that and you lose money on that property deal, unless zoning changes, or there is a new development go up nearby that raises the value of your property overnight. 

Thanks for your follow up.

Yes I have considered this and combined with the new proximity to my now grown family here and my health requirements it still made sense.

The village was just too remote and not lifebcomfortable as I got older and the leader of the opposition would not change her location so I did.

My 15 year old will also.advantage from this with the ability to finalise education with citizenship and Aus school later.

For now a number of issues are still pending like the time to OAP and some medical procedures now scheduled here - which will take time and support which I have plenty of here.

I will update as I get the pension approval etc.

Regards

Greg

[KhunHeineken]

On 4/8/2024 at 7:08 AM, GregBow said:

Thanks for your follow up.

Yes I have considered this and combined with the new proximity to my now grown family here and my health requirements it still made sense.

The village was just too remote and not lifebcomfortable as I got older and the leader of the opposition would not change her location so I did.

My 15 year old will also.advantage from this with the ability to finalise education with citizenship and Aus school later.

For now a number of issues are still pending like the time to OAP and some medical procedures now scheduled here - which will take time and support which I have plenty of here.

I will update as I get the pension approval etc.

Regards

Greg

Given the high cost of living, including property costs, it sounds like you will be in Australia for the foreseeable future. 

 

You are lucky because you got out while you still had just enough left to start a life back in Australia.  Many lose the lot in Thailand. 

[BritManToo]

On 3/3/2024 at 5:58 PM, 4MyEgo said:

Well done, rent is dead money, and makes it not feasible to return for the 2 years to have the Age Pension portable, it is the only country in the world that does this, and gets away with it, suffice to say, all options have to be considered, sadly for most, who have no other source of funds, if they return, it will be a $hitty existence for those 2 years.

If OP had rented in Thailand and not bought,he wouldn't have encountered this problem!

[4MyEgo]

4 hours ago, BritManToo said:

If OP had rented in Thailand and not bought,he wouldn't have encountered this problem!

 

Life is full of risks, and of course you have to do your due diligence.

 

I have been here for almost a decade, and I never considered renting, why, because in the time frame the rent paid, would have exceeded what it cost me to build this house. e.g. lets assume a rental of 20,000 baht a month for a 2 bedroom condo in Hua Hin x 12 x 10 years = 2.4 million baht.

 

In those years, I might have had to move if the landlord wanted to move in or sell up, and of course, then you have rental increases, so the 20,000 baht per month would go up.

 

1. I don't like rental increases

2. Disputes with landlords over electricity bills, bonds when moving out.

3. Given notice to leave for whatever reason, whether it be a year, 2, or 3 when I want to be in the same place as moving is stressful.

 

I built a place on my wife's land, so technically speaking you could say she is the landlord and I am as exposed as much as a tenant would be when it comes to any rights, and yes I am aware foreigners can't own land, and yes I am aware of the Usufruct agreement which offers protection to the farang who built the place, but I have never been interested in such an agreement, as I only invest what I am prepared to lose in this case say 2 mil plus furnishings.

 

As my "landlord", has been with me for almost 2 decades, she deserves the house in return for looking after me all of these years, albeit I have been the bread winner, so it's a mutual benefit where both parties win and if the relationship went south, she ends up with the house, and I 90% of my assets overseas.

 

It's easy to judge another persons downfall, if you want to call it that, as opposed to not understanding their individual situations, so you could well be mistaken in this situation. 

 

Renting has always been at a loss, suffice to say, I have enjoyed the almost decade living in this big comfortable house, which cost me less than it would have renting a 2 bedroom condo in Hua Hin for example.

 

Regardless if it belongs to the landlord, and at least it's not dead money, it's something for her to have in the future vs dead rent. 

 

Edited April 11 by 4MyEgo

[KhunHeineken]

3 hours ago, 4MyEgo said:

and if the relationship went south, she ends up with the house, and I 90% of my assets overseas.

Many relations go south not long after a new house and land package is purchased.  However, there are other things that can happen, for example, what if she was to die before you????

 

Of course you are going to tell us how well you get on with her family blah blah blah.  We've all heard the same story before, then, the farang gets kicked out of the house and land he paid for. 

 

I'm with BMT.  Renting is the best thing to do in Thailand.  The funds to buy the condo I am living in, should it go on the market, is safe back in Australia earning more a month than the cost of the monthly rent, and I have no other fees, taxes, and maintenance to pay, and the freedom to move at anytime, or for any reason.   

 

[Nemises]

^ Agree. 

I also prefer to pay the ridiculously low rent in Thailand. The AU OAP (plus income from some other investments) easily covers the rent thus allowing me to 1/ never having to worry about being stuck with often noisy & often inconsiderate Thai neighbours 2/ potentially losing my house should my partner dies before me 3/ freedom to move wherever/whenever I/we want. 
 

 

Edited April 11 by Nemises

[4MyEgo]

17 hours ago, KhunHeineken said:

Many relations go south not long after a new house and land package is purchased.  However, there are other things that can happen, for example, what if she was to die before you????

 

What "IF", naturally I would have to assess the situation when it arises, but it would be more than likely that I would relocate, whether here or back to my home country will depend of a few things. 

 

17 hours ago, KhunHeineken said:

Of course you are going to tell us how well you get on with her family blah blah blah.  We've all heard the same story before, then, the farang gets kicked out of the house and land he paid for. 

 

Your a funny guy, the family has always been at arms length, suffice to say, if they ever tried to do such a thing, one could say that accidents do happen, i.e. homes do burn down, but one would have to be so shallow to consider such an act.  Just so you know, I am not one of those guys who sits on a barstool looking at young fillies day in day out, I am the type of guy who sees what he wants and executes that he came for....lol, hence the reason my wife has a will in place, for the house, all her land holdings, furnishings, gold, car etc which would be passed down to the kids and in turn, I will be the one who has the last say, e.g. house is going up for sale, car, furnishings, gold etc, and all the proceeds would end up in my account. If the kids want to go a different route, then they would have to weigh up if the want to lose out on the bigger picture, i.e. 90% of my assets overseas.

 

The above said, we have raised the kids in a way that they know how to appreciate the kind of lives they have compared to others here, and how quickly life can change if they go against the grain, just a fact of life.

 

17 hours ago, KhunHeineken said:

I'm with BMT.  Renting is the best thing to do in Thailand.  The funds to buy the condo I am living in, should it go on the market, is safe back in Australia earning more a month than the cost of the monthly rent, and I have no other fees, taxes, and maintenance to pay, and the freedom to move at anytime, or for any reason.  

 

Each to their own. If the wife did pass, the value of that I would deem the property is worth, would be what it cost me to build, albeit it, that it would be worth much more than that. That said, I would consider it free rent for the period of time that I lived in it and would reinvest it into a couple of properties for the kids here, i.e. if they wanted to live here, and the reason for that is so that they don't have to worry about having to pay rent all of their lives and of course, a clause would be in the agreement that they cannot sell it before 10 years, with a caveat showing they own me the value of it's actual cost, which would revert to zero after 10 years. By then I would anticipate that my time here would be up, so if they wanted to pi$$ it up against the wall with everything else here, it would be "up to them". 

 

 

 

[4MyEgo]

7 hours ago, Nemises said:

^ Agree. 

I also prefer to pay the ridiculously low rent in Thailand. The AU OAP (plus income from some other investments) easily covers the rent thus allowing me to 1/ never having to worry about being stuck with often noisy & often inconsiderate Thai neighbours 2/ potentially losing my house should my partner dies before me 3/ freedom to move wherever/whenever I/we want. 

 

As mentioned above, each to their own.

 

Yes rents are ridiculously low in Thailand, but they come with a price, i.e. rent, no matter where you live, goes down the drain, that I learned very early in life. 

 

Noisy neighbor's of course depends on where you choose to live, sometimes you can't help it, however in our case, we have none close enough, but not far away to bother us. 

 

Losing your partner is inevitable, however we hope to go 1st, and of course a will can will, will assist you to move on if you have kids that respect you and agree to do as you tell them when the time comes, e.g. sell and move on, and buying them something else for their future, whether it be here or back in the home country (dual citizens). 

 

As for a wife's family stepping in, not an issue, they can try, but don't have the $'s to challenge me, i.e. they wouldn't want to, let alone able to pay for a private hospital bill visit vs the local vet hospital 3 times to be sent home without any causation, whereby the private hospital sorted it straight away, compliments of the Farang son in law paying the 5,000 baht bill, with the mother in law doing wai's at me from dawn to dust, yes Meh, I am the best son in law you will ever have Krupp.

[KhunHeineken]

10 hours ago, 4MyEgo said:

 

What "IF", naturally I would have to assess the situation when it arises, but it would be more than likely that I would relocate, whether here or back to my home country will depend of a few things. 

 

 

Your a funny guy, the family has always been at arms length, suffice to say, if they ever tried to do such a thing, one could say that accidents do happen, i.e. homes do burn down, but one would have to be so shallow to consider such an act.  Just so you know, I am not one of those guys who sits on a barstool looking at young fillies day in day out, I am the type of guy who sees what he wants and executes that he came for....lol, hence the reason my wife has a will in place, for the house, all her land holdings, furnishings, gold, car etc which would be passed down to the kids and in turn, I will be the one who has the last say, e.g. house is going up for sale, car, furnishings, gold etc, and all the proceeds would end up in my account. If the kids want to go a different route, then they would have to weigh up if the want to lose out on the bigger picture, i.e. 90% of my assets overseas.

 

The above said, we have raised the kids in a way that they know how to appreciate the kind of lives they have compared to others here, and how quickly life can change if they go against the grain, just a fact of life.

 

 

Each to their own. If the wife did pass, the value of that I would deem the property is worth, would be what it cost me to build, albeit it, that it would be worth much more than that. That said, I would consider it free rent for the period of time that I lived in it and would reinvest it into a couple of properties for the kids here, i.e. if they wanted to live here, and the reason for that is so that they don't have to worry about having to pay rent all of their lives and of course, a clause would be in the agreement that they cannot sell it before 10 years, with a caveat showing they own me the value of it's actual cost, which would revert to zero after 10 years. By then I would anticipate that my time here would be up, so if they wanted to pi$$ it up against the wall with everything else here, it would be "up to them". 

 

 

 

Sounds like a loving family, with contracts and caveats. 

 

It's been done to death on this website, over years, but the fact remains a foreigner can not own land in Thailand, in their own name.  It's as simple as that.  So, if Thailand will not allow me to own, I will rent. The old "rent is dead money" is is not true in Thailand.  Renting is a wise decision, and as BMT said, if the OP rented, he wouldn't be in the position he is in.  He would have held all of his cards, so to speak.  

 

I had a laugh when you said you are not so shallow as to burn the house down, can you say your wife's family is the same?  Remember, no house to live in, that only leaves a block of land, which you don't own. 

 

"That said, I would consider it free rent for the period of time that I lived in it" - this was also funny.  Obviously, accounting is not your strong suit.  It's only "free rent" as you put it, after the land purchase and construction costs, and taking into account the amount of time you have lived in the house.  Only after that time, can you claim you are "in the black."

 

I don't know what's funnier from you, your posts about how you think you have snookered your wife's family so you don't get done over, or your "interpretations" of legislation.  I do find them amusing.  Keep the entertainment coming, but remember, a lot of guys before you, like the OP, thought buying was the best think to do, and many went back to their home countries broke.   

[KhunHeineken]

11 hours ago, 4MyEgo said:

Yes rents are ridiculously low in Thailand, but they come with a price, i.e. rent, no matter where you live, goes down the drain, that I learned very early in life. 

The earnings from the capital I would have to spend to buy the condo I am living in earns more money than the rent I pay on my condo, and I have no other ongoing expenses, and the freedom to move, not to mention, that capital is pretty much on call. 

 

Your comment is another one of your throw away lines.  It doesn't take into account anything else other than the old, very old saying that "rent is dead money." 

 

You don't address the changing of an area, the health of the owner, the life expectancy of the owner, over development and poor construction practices affecting resale value, interest rates, death of Thai missus, relationship breakdown, being scammed etc etc.  Just a broad comment, "rent is dead money."   A very narrow view, in my opinion. 

 

11 hours ago, 4MyEgo said:

Losing your partner is inevitable, however we hope to go 1st, and of course a will can will, will assist you to move on if you have kids that respect you and agree to do as you tell them when the time comes, e.g. sell and move on, and buying them something else for their future, whether it be here or back in the home country (dual citizens). 

What is your advice to those with no kids?  Is it still, "rent is dead money?" 

 

11 hours ago, 4MyEgo said:

As for a wife's family stepping in, not an issue, they can try, but don't have the $'s to challenge me,

Bullets are cheap in Thailand, a lot cheaper than lawyers.  Balconies are free. 

[KhunHeineken]

18 hours ago, Nemises said:

^ Agree. 

I also prefer to pay the ridiculously low rent in Thailand. The AU OAP (plus income from some other investments) easily covers the rent thus allowing me to 1/ never having to worry about being stuck with often noisy & often inconsiderate Thai neighbours 2/ potentially losing my house should my partner dies before me 3/ freedom to move wherever/whenever I/we want. 
 

 

The reasons you mention, and some more, is why I sleep better at night than guys who have exposed themselves to a Thai missus, and Thai laws here. 

Edited April 12 by KhunHeineken

[BritManToo]

9 hours ago, KhunHeineken said:

Your comment is another one of your throw away lines.  It doesn't take into account anything else other than the old, very old saying that "rent is dead money." 

Talking about old people, at some age it's no longer sensible to buy a property.

If you're 70yo the purchase price will be way beyond any rent you would pay.

But a lot of older people get locked into mindsets which give them no options.

 

No mention of what happens after buying a 25Mbht seaside home, then you accidentally kick a doctor?

Even a drunk driving conviction can get you deported and banned from re-entering.

Edited April 12 by BritManToo

[KhunLA]

2 hours ago, BritManToo said:

Talking about old people, at some age it's no longer sensible to buy a property.

If you're 70yo the purchase price will be way beyond any rent you would pay.

But a lot of older people get locked into mindsets which give them no options.

 

No mention of what happens after buying a 25Mbht seaside home, then you accidentally kick a doctor?

Even a drunk driving conviction can get you deported and banned from re-entering.

Wouldn't your insurance pay off any mortgage ?  If you paid cash, then I don't think you'd care, if having that much money.

 

Rent is wasted money, if owning, the kids can inherit upon one's passing.  Or better, put in their name, and not inheritance tax, if applicable. 

 

This is not the TH forum but 'home country' forum.

[4MyEgo]

16 hours ago, KhunHeineken said:

The earnings from the capital I would have to spend to buy the condo I am living in earns more money than the rent I pay on my condo, and I have no other ongoing expenses, and the freedom to move, not to mention, that capital is pretty much on call. 

 

Please do provide me with your calculations over a 10 year period, i.e. rent down the drain, capital that you would have invested and the interest you would have earned in that 10 year period, don't forget the outgoings and the area you would have purchased in, please don't cherry pick and use real interest rates at call.

 

16 hours ago, KhunHeineken said:

Your comment is another one of your throw away lines.  It doesn't take into account anything else other than the old, very old saying that "rent is dead money." 

 

 

That is exactly what I am saying, it is dead money as is money in a bank account where inflation makes it worth less and less year in year out, unless you have assets you have invested in, your money (interest) is also dead money.

 

16 hours ago, KhunHeineken said:

You don't address the changing of an area, the health of the owner, the life expectancy of the owner, over development and poor construction practices affecting resale value, interest rates, death of Thai missus, relationship breakdown, being scammed etc etc.  Just a broad comment, "rent is dead money."   A very narrow view, in my opinion. 

 

Again, rent in dead money, narrow view is your opinion. I put down my example, if you wish to widen your view as you did, knock yourself out, it still doesn't reflect what I mentioned, rent is dead money, it earns nothing, does nothing for you except provide shelter for you, i.e. a place to live for a period of time earning zero $'s. You cannot argue with the fact, no matter how much you want to deflect it with interest earned, as interest earned is also dead money when inflation is taken into consideration.

 

17 hours ago, KhunHeineken said:

What is your advice to those with no kids?  Is it still, "rent is dead money?"

 

Yes, rent is dead money, regardless if one has kids or not, if one was humane, one would want to look out for their partners future, i.e. having their own roof over their head when the breadwinner is gone, time spent together = value in the long term, that is unless you count all your pennies and or perhaps don't have enough to support your partner, each to their own. I believe there is a name for such, Cheap Charlie comes to mind.

 

17 hours ago, KhunHeineken said:

Bullets are cheap in Thailand, a lot cheaper than lawyers.  Balconies are free. 

 

I take it you don't know much about Thailand, well let me spell it out for you, money = power, and unless my wife's family have money, which they don't, it means they don't have power and wouldn't dare take me on, bullets & balconies are for falangs exiting this life due to being broke. 

  

 

 

[4MyEgo]

17 hours ago, KhunHeineken said:

The reasons you mention, and some more, is why I sleep better at night than guys who have exposed themselves to a Thai missus, and Thai laws here. 

 

Glad to hear you also sleep better at night, I would hassard a guess that you have been stung badly by a Thai wasp previously and found out the hard way, that is, you didn't have a leg to stand on after the fact.

 

One would hope you are one of those guys who lives and learns, but I personally doubt it, more likely doesn't get back on the horse that threw him off of it.

[4MyEgo]

17 hours ago, KhunHeineken said:

"interpretations" of legislation

 

Something you have fail at miserably, your personal insults will refrain me from contributing further because I remember clearly, one can't move forward in a discussion with you, because you go around in delusional circles, cheerio.