We Are Moving To Thailand!

[Jungian]

I would buy a modest house and a car skip the rent right off or you are going to be wasting your money and run through what you have quickly. You also better have a visa non-immigrant "B" or "O" visa other wise you can not get work (legally). If your idea is to come on an airport visa exemption for 30 days and run the border every 2 weeks that's not going to work. And if you think you are going to teach English and make 25,000B per month that is most likely not going to happen. The majority of jobs foreigners can do in Thailand require a minimum of a bachelors degree but the better full time jobs require a masters or doctorate.

[wamberal]

Currently in australia some banks are offering 6% term deposits for 3 years. At that rate your 3.5 million baht will generate approximately 200,000 baht per annum or 16,000 baht/month. 2 of you living extremely frugally in rural thailand could get by on that with no risk or stress in setting up a business.

Crunch time comes in 3 years when you hope rates have risen, so as not to affect your capital.

Crunch time comes in 3 years? What about the longer term effects of inflation, currency fluctuations, et cetera?

The OP would be far better off investing in Australian bank shares which are yielding 6 or 7%, with the historical trend being that dividends will continue to match inflation over the long term, and usually to increase faster than the CPI. However, that still leaves the question of currency fluctuations.

[ThaiBasil]

"Are you all self funded retirees that are set up for life?"

According to the survey results, they are!!!! Well at least the majority is!!!

[thaimate]

"Are you all self funded retirees that are set up for life?"

According to the survey results, they are!!!! Well at least the majority is!!!

yes i would say most are,or close to retirement with loads of money in the bank,as for buying ,its not worth it work out the math it would take 15/17 years to buy the place at what you can spend on rent ,also your stuck if you need to move ,interest rates will go back up to 5/6% in the next couple of years .

one thing ,i really wish i knew how some of you live on 30k a month we spend closer to 100k but then it is quite a nice life

the thing you must remember if you come here is your setting up expenses ,believe me it ALWAYS works out more than you expected. i wish you luck .but honestly think you shouldnt do it ,you will either eventually run out of money or get sick of living on the breadline.

Edited June 27, 2009 by thaimate

[henryalleman]

Sorry, that also I must be a wet blanket,. if you have a guaranteed and inflation secured income (pension or assets) you can have an very comfortable life in Thailand, if not the failure rate is more then 90%.

Visiting a country, even for a long period of time and actually living there are 2 total different things, like many people find out before you.

No hope what so ever that you will follow this advice from and others.

Buy a decent car and set up a decent household will take already almost 50% of your money.

[henryalleman]

I would buy a modest house and a car skip the rent right off or you are going to be wasting your money and run through what you have quickly. You also better have a visa non-immigrant "B" or "O" visa other wise you can not get work (legally). If your idea is to come on an airport visa exemption for 30 days and run the border every 2 weeks that's not going to work. And if you think you are going to teach English and make 25,000B per month that is most likely not going to happen. The majority of jobs foreigners can do in Thailand require a minimum of a bachelors degree but the better full time jobs require a masters or doctorate.

You forget that a foreigner can not buy a house or land.

[MJP]

These are all good, honest posts.

I live on the contaminated land sites I work on in the West, would never use a house there anyway, never be there, so may as well set up out here, which I've done.

Still nomadic, I'm off again in 6 weeks to Portugal, likely for a 4 year stint.

Thailand is a very unforgiving place for those without money. Must keep working. Must keep earning.

[Jimjim]

He has a wife. She can buy a house and she can buy land. And also he's not going to be doing border runs, he can easily get a Non-O with a Thai wife.

[jackdanielsesq]

Unless everyone is still dozing, we just got whacked by the biggest real estate driven crash in history. So purchasing is a no-no.

An auto is not an asset either. Anytime you owe money on real property, its a liability, not an asset as the CPA's would have us believe.

Even Warren Buffets' fortunes have declined - in asset terms. Cash is King. Preserve it.

Cabin fever is gonna get ya sooner rather than later. Man is always gonna be building. There is plenty scope - there are always

projects in the pipeline - in all the major hubs, especially on a shorter, contract basis. Ya employer will handle permits etc,

thats what they do. So work on ya CV, enjoy the vacation, conserve cash.

BR>Jack

PS Welcome!!

[sassienie]

On that sort of money, you may last about 6 years here in Thailand.

These days’ living in Thailand is not as cheap as many people believe. You need dosh and lots of it.

Up to you whether you decide to live here or not, but if it were me in your situation, no way.

[longstebe]

MJP hit the nail on the head I think.

To the OP, Why don't you try the 3-4 month stint working away.

This way you get to earn up until your retirement age. 47 is not old.

Is the wifey able to work?

Edited June 27, 2009 by longstebe

[hhgz]

"My Thai wife and I..."

Unlike virtually all of the TVers who have relocated to Thailand before, you have a resource for understanding Thailand. I suggest that you listen to her.

[Datsun240Z]

"My Thai wife and I..."

you have a resource for understanding Thailand. I suggest that you listen to her.

[VTR1000]

Don't burn your bridges, have an idea why/what you are coming out here for, give yourself a year, be careful where you choose to relocate to and if it doesn't work out, go home. Simple.

Edited June 27, 2009 by VTR1000

[William Osborne]

if you are a commissioning manager in construction, i would suggest you try and find a overseas job with a decent rotation.

$100 K is not enough to retire on and and at 47 you are probably at your peak regarding career... you don't want to be back in the job market in 10 years time.

Hi William, at a pinch I could find some contract work in the Middle East somewhere. I have worked there on and off over the years.

I can't believe there are NO positive experiences! Are you all self funded retirees that are set up for life?

Nope, still working overseas, had toyed with the idea of a business here but reckon it would be too much hard work for what you would get out of it....prefer to work overseas and come back and relax in thailand...

Have taken extended time off here 6-8 months at a time

[Tompa]

There are still opportunities in Thailand, but it’s not easy. Quite a lot of foreigners set up small export business, but you need to find a niche market or offer something your competitors cannot. If you want to go legal you also have to take into account all the set up fees plus all the other expenses over the year (accounting fees, audit fees, taxes, social security, rent, VAT etc etc). It adds up to quite a lot over the year so many run their businesses illegally (not recommended) to save on costs.

I came here about 10 years ago and started working for around 30000/month. I had some savings so it the amount wasn’t a big deal. I started my own business about 5 years ago and it’s been doing quite well and my income has risen quite considerably over the years.

If you do start a small business try to find something that Thai’s can’t copy easily. This will help you maintain your competitive edge and your income

Tompa,

[lioness]

if you are a commissioning manager in construction, i would suggest you try and find a overseas job with a decent rotation.

$100 K is not enough to retire on and and at 47 you are probably at your peak regarding career... you don't want to be back in the job market in 10 years time.

Hi William, at a pinch I could find some contract work in the Middle East somewhere. I have worked there on and off over the years.

I can't believe there are NO positive experiences! Are you all self funded retirees that are set up for life?

Undoubtedly there are positive experiences, but one wouldn't chance airing them on this forum, because no matter what was said you would get drowned in the masses. There are ways to make money here, you just have to have good business sense, excercise caution, not be greedy and keep away from Farang with get rich schemes. Best of luck, you can do it.

[paulh1978]

if you have a degree you can have a go at teaching

[MJP]

if you are a commissioning manager in construction, i would suggest you try and find a overseas job with a decent rotation.

$100 K is not enough to retire on and and at 47 you are probably at your peak regarding career... you don't want to be back in the job market in 10 years time.

Hi William, at a pinch I could find some contract work in the Middle East somewhere. I have worked there on and off over the years.

I can't believe there are NO positive experiences! Are you all self funded retirees that are set up for life?

Undoubtedly there are positive experiences, but one wouldn't chance airing them on this forum, because no matter what was said you would get drowned in the masses. There are ways to make money here, you just have to have good business sense, excercise caution, not be greedy and keep away from Farang with get rich schemes. Best of luck, you can do it.

My last comment on this one.

Just keep it real.

[Bakeman]

The situation depends on whether you want to live or if you want to prosper. I am investing in a business in Thailand first while working abroad. I will then marry my Thai girlfriend and live on a working Visa until I am tired of working. Then I will draw my company income, my retirement and my savings. I will not advise you what to do for you will have to live with your decision whether it is right or wrong. Good luck!

[Datsun240Z]

op not responding much, do we have a troller?

[MJP]

op not responding much, do we have a troller?

No, definitely not.

I can confirm real. Decent chap too.

[Datsun240Z]

op not responding much, do we have a troller?

No, definitely not.

I can confirm real. Decent chap too.

ok!

[longstebe]

op not responding much, do we have a troller?

Must admit I was thinking the same.

Lets give him time to react. If not then we can slag him off to death

[coxhoedave]

Even if he is a troller you must all admit,

Bloody good question.

[middlepath]

Go for it. You can last for 10 years on the amount you can live on. You will NEVER have those 10 years back, 47 to 57 sounds perfect.

Also, you may just luck out and find something to generate some extra funds. I say go for it, eat cat food like I may have to do in a dark room

in my 90s, but live today, this is all you have for sure......DO IT!!!!!

[longstebe]

Even if he is a troller you must all admit,

Bloody good question.

True.

It got me thinking.I am also about to re-locate there. I already have a house and car there though.

Also I am much younger than the OP. Even still, he should go for it. Find the work now whilst age is on your side.

[Padrino]

You have a Thai wife, someone I presume you have been with for some years and trust wholeheartedly. That is a great asset in itself, in terms of having a native partner who can negotiate and communicate in the native language. I know many farrangs who make good money doing business here, it would seem they are too busy making money to post on forums. Everyday I see why so many businesses fail, poor marketing, sub standard work ethics, poor quality of service , presentation, lack of an Ethical Code of Practice, I could go on. Because Thailand is a developing country of sorts, it makes itself very susceptible to obvious good business practice. It is the same all over the world, the rules do not change, be positive, find a niche market, work hard, do things properly and you will make money. Set definite SMART goals, you only need 500-1000 baht a day to live here if you are living as you described, if you and your wife put your minds to it you can achieve that very quickly and not have to dip into that 3.5m.

I am a consultant to small businesses and provide a Life Coaching service for individuals, I would be happy to offer free advice via email or even a free session to construct a plan for your future, if and when you need it.

Remember the fears of failure, criticism and poverty defeat most before they have even started. Read through many of the replies here and you will see a pattern, everybody talks about your money running out (the fear of poverty), only a few speak of the utilisation of that money. If you fear poverty then you will attract that. You may not be able to achieve the goal of 'big money' straight away but by setting a number of mini goals on the way to your ultimate goal you can easily sustain your life here and be

"Both poverty and riches are the offspring of thought" - Napoleon Hill

[RPCVguy]

Lots of good responses here. I made the jump with a Thai wife, similar amount and an understanding it would not pay for me to work here,... but with only 3 yrs wait before start of benefits. Definitely NOT a good amount for city life, but doable in rural areas. One resource beyond TV is http://www.retire2thailand.com It posts links to resources in an easy to research manner. Good Luck

[LPCustom69]

Why not just work another 2 or 3 years, save as much as you can, and then give it a try? With no pension to start coming in, that's not much money.

My Thai wife and I are going to relocate permanently to Thailand in the next couple of months.

All up we will have about 3.5 million baht to set ourselves up, but no other income.

It would be highly unlikely I would find work in my profession so I would need to find some way of producing a steady income.

My plan is to just do nothing for 6 or so months and just keep my ear to the ground and research any business opportunities that may arise.

I would like to hear some success stories from other TV members that have been in a similar situation. Come to think of it, give me the bad ones too.

Thanks in advance

first ,how old are you? if your not going to get a pension of some sort soon ,i dont wish to be a wet blanket but three and a half million wont last to many years ,and it will not be easy to find a well paid job,if you have a child the expenses keep rising .

best of luck ,but !!!

oh and dont buy a bar.

I am 47, no pension coming up for me.

A bar is out of the question but surely other business opertunities are out there!

I have no intention of just sitting around doing nothing untill the money runs out.

My wife and I live very cheap in Thailand, we cook at home and we don't drink or smoke. We spent 6 months there about 3 years ago and we lived very comforatble on about 25k per/mth, including rent and running a car.

I am a commissioning manager working in construction. I very much doubt they would hire a farang for this job.