Is This A Good Time To Retire To Thailand

[GreenSnapper]

I like to be able to understand any of this, but i really don't.

yes i see a graph rising on a chart

Tomorrow when i take my bank draft cheque from the bank should i change into OZ dollars then get on a plane for Australia ?

forgive me if i seem flippent but i really dont know what to do

1. Leave your $$ on your local bank account for a short while.

2. Fly to Singapore. Bring documentation about your present address.

3. Open an AUD-account at this bank: http://www.icicibank.com.sg/pb_fd.htm

4. SWIFT Transfer your $$ from your old bank to your new bank

5. Issue solved.

[Naam]

its very interesting you tell me i am a fool i should be getting 6 to 10% yet you say you accept 4%

I rest my case

Pat

one should not try to discuss the colours and the brush stroke of an old master's painting with a blind man. rest in peace Pat!

[stander]

its very interesting you tell me i am a fool i should be getting 6 to 10% yet you say you accept 4%

I rest my case

Pat

one should not try to discuss the colours and the brush stroke of an old master's painting with a blind man. rest in peace Pat!

Naam

Arrogant people think that they are always right, they think that they know the best answers to all life problems and they think that they are better than most of the ordinary people. Arrogance is no more than a shield that covers inner emptiness and sometimes an inferiority complex.

[LaoPo]

1. Leave your $ on your local bank account for a short while.

2. Fly to Singapore. Bring documentation about your present address.

3. Open an AUD-account at this bank: http://www.icicibank.com.sg/pb_fd.htm

4. SWIFT Transfer your $ from your old bank to your new bank

5. Issue solved.

I don't consider that as a good advise.

Although ICICI is a large India bank it's a dwarff in comparison with the world's 10 or 50 largest banks; next to that, the OP probably hasn't any "feeling" with a bank from India since he's a European.

Flying up and down to Asia is also not necessary anymore nowadays.

And, your nr. 1 is a dangerous advise for reasons I explained before about Irish banks and why he has to exchange $'s for AUD is also beyond me.

Issue NOT solved.

LaoPo

[Naam]

its very interesting you tell me i am a fool i should be getting 6 to 10% yet you say you accept 4%

I rest my case

Pat

one should not try to discuss the colours and the brush stroke of an old master's painting with a blind man. rest in peace Pat!

Naam

Arrogant people think that they are always right, they think that they know the best answers to all life problems and they think that they are better than most of the ordinary people. Arrogance is no more than a shield that covers inner emptiness and sometimes an inferiority complex.

if you are trying to introduce yourself with pointless bla-bla, let me tell you a secret... i am not interested!

[Ulysses G.]

Don't worry about Naam, no-one else does.

We just accept we can never match his supreme financial intellect.

Just think of Rainman.

[stander]

its very interesting you tell me i am a fool i should be getting 6 to 10% yet you say you accept 4%

I rest my case

Pat

one should not try to discuss the colours and the brush stroke of an old master's painting with a blind man. rest in peace Pat!

Naam

Arrogant people think that they are always right, they think that they know the best answers to all life problems and they think that they are better than most of the ordinary people. Arrogance is no more than a shield that covers inner emptiness and sometimes an inferiority complex.

if you are trying to introduce yourself with pointless bla-bla, let me tell you a secret... i am not interested!

Arrogance is a defense mechanism in order to prevent further criticism.

[Naam]

1. Leave your $ on your local bank account for a short while.

2. Fly to Singapore. Bring documentation about your present address.

3. Open an AUD-account at this bank: http://www.icicibank.com.sg/pb_fd.htm

4. SWIFT Transfer your $ from your old bank to your new bank

5. Issue solved.

I don't consider that as a good advise.

Although ICICI is a large India bank it's a dwarff in comparison with the world's 10 or 50 largest banks; next to that, the OP probably hasn't any "feeling" with a bank from India since he's a European.

Flying up and down to Asia is also not necessary anymore nowadays.

And, your nr. 1 is a dangerous advise for reasons I explained before about Irish banks and why he has to exchange $'s for AUD is also beyond me.

Issue NOT solved.

LaoPo

people here don't seem to be interested in any advice Lao Po. and this thread is "par exemple" if you try to render some fair advice and point out thinking mistakes, respectively wrong assumption they twist your words, invent something out of thin air and finally act insulted without having the slightest reason.

even my simple and clear advice was misinterpreted

presently i am getting 4.52% for AUD overnight cash in Singapore. i could boost the yield to ~5.50% for a fixed deposit with a one year maturity. but i happily forego that 1% difference for the possibility to convert AUD without a loss in any currency within a minute or two if need should arise.

let them run against brick walls and later whine about having lost money like those who had AU-Dollars and Kiwi-Dollars in 2008. for them diversifying investment in different assets and different currencies and therefore reduce risk is obviously something unheard of.

[GreenSnapper]

1. Leave your $ on your local bank account for a short while.

2. Fly to Singapore. Bring documentation about your present address.

3. Open an AUD-account at this bank: http://www.icicibank.com.sg/pb_fd.htm

4. SWIFT Transfer your $ from your old bank to your new bank

5. Issue solved.

I don't consider that as a good advise.

Although ICICI is a large India bank it's a dwarff in comparison with the world's 10 or 50 largest banks; next to that, the OP probably hasn't any "feeling" with a bank from India since he's a European.

Flying up and down to Asia is also not necessary anymore nowadays.

And, your nr. 1 is a dangerous advise for reasons I explained before about Irish banks and why he has to exchange $'s for AUD is also beyond me.

Issue NOT solved.

LaoPo

The OP seemed to be interested in high yield AUD accounts. That's what my advice is based on.

ICICI is an Indian bank, but I'm talking Singapore and they must follow Singaporean banking standards. Which are sufficient for most people.

But if you know another bank with a comparable high yield AUD account, I'd be interested to hear. My own bank is Standard Chartered and their interest rates and exchange spreads s+ck.

And due to money laundering/terrorist fears, you normally have to open an account in person. That's why I suggested to fly there. Not a big deal for someone who wants to retire in Thailand.

[LaoPo]

Arrogance is a defense mechanism in order to prevent further criticism.

Financial know-how and arrogance are often mixed up by the ignorant.

LaoPo

[LaoPo]

1. Leave your $ on your local bank account for a short while.

2. Fly to Singapore. Bring documentation about your present address.

3. Open an AUD-account at this bank: http://www.icicibank.com.sg/pb_fd.htm

4. SWIFT Transfer your $ from your old bank to your new bank

5. Issue solved.

I don't consider that as a good advise.

Although ICICI is a large India bank it's a dwarff in comparison with the world's 10 or 50 largest banks; next to that, the OP probably hasn't any "feeling" with a bank from India since he's a European.

Flying up and down to Asia is also not necessary anymore nowadays.

And, your nr. 1 is a dangerous advise for reasons I explained before about Irish banks and why he has to exchange s for AUD is also beyond me.

Issue NOT solved.

LaoPo

The OP seemed to be interested in high yield AUD accounts. That's what my advice is based on.

ICICI is an Indian bank, but I'm talking Singapore and they must follow Singaporean banking standards. Which are sufficient for most people.

But if you know another bank with a comparable high yield AUD account, I'd be interested to hear. My own bank is Standard Chartered and their interest rates and exchange spreads s+ck.

And due to money laundering/terrorist fears, you normally have to open an account in person. That's why I suggested to fly there. Not a big deal for someone who wants to retire in Thailand.

Initially, he was not but became interested when some started talking about high yielding AUD and Euro.

Any currency, high yielding, is to be frowned upon. If you can get 6%/yr and the currency slips versus the original currency, how much is the yield?

And, that ICICI has a daughter in Singapore doesn't mean anything; too many examples of banks falling over with branches all over the world; Icesave is a nice example.

If ICICI falls over, which door do you knock to get your money back ?; I'm most interested....Singapore, Mumbai, ? you tell me.

LaoPo

[GreenSnapper]

And, that ICICI has a daughter in Singapore doesn't mean anything; too many examples of banks falling over with branches all over the world; Icesave is a nice example.

If ICICI falls over, which door do you knock to get your money back ?; I'm most interested....Singapore, Mumbai, ? you tell me.

LaoPo

Based on which facts do you assume ICICI falls over or is in danger to do so?

Still waiting for your answer which bigger bank in Singapore gives comparable rates in AUD?

If he has his money in EUR or USD instead of AUD, you certainly know the fall of exchange rates to THB during the last 12 months or so? Every currency bears some risks, but also chances.

It is easy to nag about everything, but that doesn't help the OP.

[F1fanatic]

Getting back to OP's original post - you obviously have problems at home.

Life here is cheaper, but if you're not on your guard it could turn out far more expensive.

From your post I don't think you're able to cope with life in Thailand (sorry) - you're going to end up in even more trouble than you are now!

[LaoPo]

And, that ICICI has a daughter in Singapore doesn't mean anything; too many examples of banks falling over with branches all over the world; Icesave is a nice example.

If ICICI falls over, which door do you knock to get your money back ?; I'm most interested....Singapore, Mumbai, ? you tell me.

LaoPo

Based on which facts do you assume ICICI falls over or is in danger to do so?

Still waiting for your answer which bigger bank in Singapore gives comparable rates in AUD?

If he has his money in EUR or USD instead of AUD, you certainly know the fall of exchange rates to THB during the last 12 months or so? Every currency bears some risks, but also chances.

It is easy to nag about everything, but that doesn't help the OP.

1. I said IF; do some research and you'll find much larger financials than ICICI, dropped dead in the past 2-3 years. EVERY bank/financial can go down and I would stall my money with a larger bank than ICICI but if you do so, I have no problem with that, but I would advise the OP not to do so.

2. Why would I give you another bank?; it wasn't me giving the advise to exchange his original currency into AUD, which, IMO is not very smart for reasons I explained before.

3. No comment as we didn't discuss THB here.

4. If you look through the discussion I advised the OP to talk to a large INDEPENDENT international accountings firm with offices both in Europe and Asia. He will get there a tailor-made suit since WE don't know all the in's and out's of his personal circumstances.

That's why advises like yours don't make any sense.

LaoPo

[toffo9]

Ok,

I want to chime in. I retired at the age of 31.

As far as finance goes, internet banking is a must. My pension goes directly into my bank accounts in the US.

Unless you have a disability pension or something which job allows you to retire at 31?

I retired at 20 now work that out lol

[F1fanatic]

We'd rather just laugh at your arrogance and mis-placed idea of superiority.

If you're living here, you will lose it v quickly with your attitude...

Edited February 10, 2011 by F1fanatic

[GreenSnapper]

3. No comment as we didn't discuss THB here.

Of course, anybody retiring in Thailand shall be aware that his major expenses will be in THB.

4. If you look through the discussion I advised the OP to talk to a large INDEPENDENT international accountings firm with offices both in Europe and Asia. He will get there a tailor-made suit since WE don't know all the in's and out's of his personal circumstances.

That's why advises like yours don't make any sense.

That may be the fastest way to lose his assets.

Financial advisors make a living from selling advice, not from successful investing.

There is no other way for him than making his homework himself. As a start, he got a lot of different ideas here in this thread, he may continue with some more reading.

One more advice to the OP: don't put everything in one basket and be very careful with anybody who claims to know about investment. Be it here in the thread, or be it a "tailor made suit".

[LaoPo]

3. No comment as we didn't discuss THB here.

Of course, anybody retiring in Thailand shall be aware that his major expenses will be in THB.

4. If you look through the discussion I advised the OP to talk to a large INDEPENDENT international accountings firm with offices both in Europe and Asia. He will get there a tailor-made suit since WE don't know all the in's and out's of his personal circumstances.

That's why advises like yours don't make any sense.

That may be the fastest way to lose his assets.

Financial advisors make a living from selling advice, not from successful investing.

There is no other way for him than making his homework himself. As a start, he got a lot of different ideas here in this thread, he may continue with some more reading.

One more advice to the OP: don't put everything in one basket and be very careful with anybody who claims to know about investment. Be it here in the thread, or be it a "tailor made suit".

It shows you've not been reading the entire topic and WHAT I wrote since I didn;t advise him to go to a financial advisor in the sence as to ask HOW to invest and in WHICH products; I refrained from that, other than you did:

http://www.thaivisa....ost__p__4204019

LaoPo

[Naam]

1. Leave your $ on your local bank account for a short while.

2. Fly to Singapore. Bring documentation about your present address.

3. Open an AUD-account at this bank: http://www.icicibank.com.sg/pb_fd.htm

4. SWIFT Transfer your $ from your old bank to your new bank

5. Issue solved.

I don't consider that as a good advise.

Although ICICI is a large India bank it's a dwarff in comparison with the world's 10 or 50 largest banks; next to that, the OP probably hasn't any "feeling" with a bank from India since he's a European.

Flying up and down to Asia is also not necessary anymore nowadays.

And, your nr. 1 is a dangerous advise for reasons I explained before about Irish banks and why he has to exchange s for AUD is also beyond me.

Issue NOT solved.

LaoPo

The OP seemed to be interested in high yield AUD accounts. That's what my advice is based on.

ICICI is an Indian bank, but I'm talking Singapore and they must follow Singaporean banking standards. Which are sufficient for most people.

But if you know another bank with a comparable high yield AUD account, I'd be interested to hear. My own bank is Standard Chartered and their interest rates and exchange spreads s+ck.

And due to money laundering/terrorist fears, you normally have to open an account in person. That's why I suggested to fly there. Not a big deal for someone who wants to retire in Thailand.

Initially, he was not but became interested when some started talking about high yielding AUD and Euro.

Any currency, high yielding, is to be frowned upon. If you can get 6%/yr and the currency slips versus the original currency, how much is the yield?

And, that ICICI has a daughter in Singapore doesn't mean anything; too many examples of banks falling over with branches all over the world; Icesave is a nice example.

If ICICI falls over, which door do you knock to get your money back ?; I'm most interested....Singapore, Mumbai, ? you tell me.

LaoPo

ICICI Singapore has met the stringent conditions of the M.A.S. and got its retail banking license only a few months ago. however, the safety of cash deposits in Singapore has been reduced as the SIN government guarantee expired oct 10, 2010.

ICICI India is without any doubt a bank with systemic importance. but that does not necessarily apply to its branch in Singapore. the better conditions offered can be in part attributed to attract "retail" customers which cannot bank with the other multinational banks in Singapore because they don't meet the requirements of the M.A.S. (Monetary Authority of Singapore) of being "accredited / qualified investors".

In order to qualify as an "accredited investor" a person must be

-(a) an individual (1) whose net personal assets exceed S$2 million,

-or its equivalent in value in any foreign currency

-or (2) whose income in the preceding 12 months is not less than S$300,000, or its equivalent in value in any foreign currency;

-a corporation with net assets exceeding S$10 million in value or its equivalent in value in any foreign currency, as determined by its most recent audited balance sheet or, in the case of a corporation which is not required to prepare audited accounts regularly, a balance sheet of the corporation certified by it to give a true and fair view of the state of aff airs of the corporation as of the date of the balance sheet, which date shall be within the preceding 12 months;

-© a trustee of a trust of which all property and rights of any kind whatsoever held on trust for the beneficiaries of the trust exceed S$10 million in value (or its equivalent in foreign currency);

-(d) an entity (other than a corporation) with net assets exceeding S$10 million in value (or its equivalent in a foreign currency);

-(e) a partnership (other than a limited liability partnership within the meaning of the Limited Liability Partnerships Act, Chapter 163A of Singapore) in which each partner is an accredited investor;

-or (f) a corporation, the sole business of which is to hold investments and the entire share capital of which is owned by one or more persons, each of whom is an accredited investor.

[stander]

Financial know-how and arrogance are often mixed up by the ignorant.

LaoPo

[/quote

Well there you go, I did not release you and Naam were a tag team!

[LaoPo]

Financial know-how and arrogance are often mixed up by the ignorant.

LaoPo

[/quote

Well there you go, I did not release you and Naam were a tag team!

We're not exactly a team but from time to time Naam let me consult his gardener, now on holidays with his wife and 2 Mia Nois.

The chap deserved a good holiday since he gave me so many good advises that I asked Naam if he would let me pay for his holidays; he agreed.

I will join the gardener in about 1 week from now, relieving him from his hard work since his wife is a tidy bit jealous from time to time.

LaoPo

[Naam]

Financial know-how and arrogance are often mixed up by the ignorant.

LaoPo

[/quote

Well there you go, I did not release you and Naam were a tag team!

Stander did not "release" you LaoPo. now you can't join my gardener. tough luck!

[LaoPo]

Financial know-how and arrogance are often mixed up by the ignorant.

LaoPo

[/quote

Well there you go, I did not release you and Naam were a tag team!

Stander did not "release" you LaoPo. now you can't join my gardener. tough luck!

.......I feel released...

LaoPo

[Kwasaki]

Financial know-how and arrogance are often mixed up by the ignorant.

LaoPo

[/quote

Well there you go, I did not release you and Naam were a tag team!

If that's the case where do they exaggerate.

The kettle calling the pot black come to mind.

[kdc1899]

" I don't really want to say what country i am from, unless i am pushed (were talking about Europe)

but if i say we are not in very good shape at this moment, that would be an understatement,

I am tired of what is going on, with the banks and the goverment, in my country, I am looking for a change.

ok let me tell you a little about myself, i am 63 years old, i am retired, Taxmam wants to interview me, not sure why. don't want to wait around to find out.

i do have a Thai girlfriend,( 3 years now) i have about maybe 500,000 euros pension pot in cash.

I am in trouble trying to decide what to do, I need help.

I am separated, for about 25 years, can't get divorce as she wants half, i did have another westerner g/f but thats a long story.

I have land about (6 rai) in Issan, don't know why i said that, its in her name, its in the sticks.

I am thinking of retireing to Thailand, but reading Thaivisa I see lots of forangs are saying they are leaving Thailand,

even Stickman is leaving, ( i have great respect for stickman) don't get me wrong

Now i am not into the bar scene, done that wore the teeshirt, and all that <deleted>, ( but not that much )

Can anybody Tell me how long that kind of money would last in Thailand. I know i am going to get a lot of jokes

from expats telling all sorts things, but can we be serious for a minute guys.

I get my pension in 3 years time from my goverment, i would say about 200 euros per week ( if i am lucky )but what do i do in the meantime.

This might not be the right forum to air my views, if not i am sorry,

Thanks in advance

Pat "

If your not into the bar scene and your not interested in renting young gals at a mere 1,500 baht per day then why retire to Thailand?

Especially if you are going to merely exist up their in 18th century Thailand.

If you don't mind merely existing up there where they wipr their arse with left hand then divorse the wife, give her half, pay the tax man, get everything in order so you have no issues with Interpol and get your retirement visa and move to Thailand.

Pretty simple Sir.

[raylo]

500,000 Euro is about 20,000,000 THB. Lets say you live for 20 years. That's 1,000,000 a year or 83,000 a month.

'

these kind of milkmaid calculations drive me nucking futs! is anybody who has 500k €UR stupid² enough not to invest that money in order to have an income of at least 100,000 Baht a month without touching a single penny of the capital?

Fair point, but my post did say this was all BEFORE even considering investing/interest etc.

And I am interested in where he could get a 6% return after tax for the next 20 years, with no capital risk and/or currency risk? I want some of that!!

Very easy. You can get 7% on term deposit in Australia at the moment, 5% in SIngapore & Hong Kong just to name a few.

If you dont know what term deposit is lok it up but the money is not at risk.

If you go at risk investments you can go over 9% but guess what?? Its at risk!! No guarantee!

Naam said it!! The smart way to go. You do have to register for tax which might scare the poster away!!

[raylo]

" I don't really want to say what country i am from, unless i am pushed (were talking about Europe)

but if i say we are not in very good shape at this moment, that would be an understatement,

I am tired of what is going on, with the banks and the goverment, in my country, I am looking for a change.

ok let me tell you a little about myself, i am 63 years old, i am retired, Taxmam wants to interview me, not sure why. don't want to wait around to find out.

i do have a Thai girlfriend,( 3 years now) i have about maybe 500,000 euros pension pot in cash.

I am in trouble trying to decide what to do, I need help.

I am separated, for about 25 years, can't get divorce as she wants half, i did have another westerner g/f but thats a long story.

I have land about (6 rai) in Issan, don't know why i said that, its in her name, its in the sticks.

I am thinking of retireing to Thailand, but reading Thaivisa I see lots of forangs are saying they are leaving Thailand,

even Stickman is leaving, ( i have great respect for stickman) don't get me wrong

Now i am not into the bar scene, done that wore the teeshirt, and all that <deleted>, ( but not that much )

Can anybody Tell me how long that kind of money would last in Thailand. I know i am going to get a lot of jokes

from expats telling all sorts things, but can we be serious for a minute guys.

I get my pension in 3 years time from my goverment, i would say about 200 euros per week ( if i am lucky )but what do i do in the meantime.

This might not be the right forum to air my views, if not i am sorry,

Thanks in advance

Pat "

If your not into the bar scene and your not interested in renting young gals at a mere 1,500 baht per day then why retire to Thailand?

Especially if you are going to merely exist up their in 18th century Thailand.

If you don't mind merely existing up there where they wipr their arse with left hand then divorse the wife, give her half, pay the tax man, get everything in order so you have no issues with Interpol and get your retirement visa and move to Thailand.

Pretty simple Sir.

Huh??

[w11guy]

You have more than enough money to live in Thailand. I live in a rented apartment in Bangkok that costs around 30,000 baht/month including electricity and water. Nearly everything here is much, much cheaper than the UK. The only things that are more expensive are imported goods; so a tin of Heinz baked beans that is 50p in UK might be £2.80 here. So just buy the local brand or buy local food. You can spend a lot of money if you just stick to brands you know from back home. Taxi, skytrain, metro are a small fraction of what you'd pay in London. One stop on skytrain is about 15 baht (30p). In London one stop on the underground is £2, so nearly 7 times the price. Taxi from Bangkok to airport is about £7-8; in London it's about £40-50. So as you can see, it's massively cheaper to live here than the UK.

But you didn't say where you were from so this may not apply to you? Do you live in a rich or poor European country?

No criticism meant, but it sounds like you are running away from things. When you do that in life they have a habit of catching up with you. So it might be better to sort out the taxman and the divorce before leaving. You must have some idea of why the taxman wants to interview you. I don't think they interview people at random for no reason. Did you run your own business? Did you always file returns on time and complete them honestly? There must be some reason you can think of, even if you think you're innocent.

Surely your wife can divorce you. I don't think she needs your permission.

Things to be aware of if you move to Thailand is that the exchange rate could move against you. If you lived on €20,000 a year, then €500,000 would, in theory, last you 25 years. But you need to take inflation into account and also the exchange rate. If you get a €200/week pension, then the €500,000 will last you much longer.

If you want to move here I'd just go ahead and then decide whether you want to stay for good after you have been here for 6-12 months. That will give you a good idea of how much you will be spending each month. Don't invest in any property until you are absolutely sure you want to stay for good. Depending on where you live, it might be impossible to sell the property you have bought/built.

If you are worried about the Euro, then you need to diversify into other currencies. This will brings its own risks, so be careful. But if Euro collapses (which I think is very doubtful) then your Euros would be converted to the new currency of the country you are from. If you live in Germany then you would benefit. But if you lived in Greece, then that would be a disaster. So what you do with your Euros depends on what country you currently live in. But if it really scares you that they Euro will collapse, then you shouldn't be holding money in that currency.

Someone mentioned that typical cost of living for expats has risen 50% in last 5 years. I acn't comment on that, as I have only been here about 9 months. But in the last 9 months my cost of living has fallen, due to the £GBP strengthening slightly since I arrived. I have also got better at buying local goods.

You also mentioned that you're not happy with your government. As someone else also pointed out, if you're not happy with yours then you won't be happy with the one in Thailand. But I think people should live their own lives and not worry about governments. I know that they can affect our lives in bad ways, but mostly one is just like the next and life goes on as normal. I have lived through many governments in the UK and if I didn't know who was in charge I wouldn't be able to tell from how my day to day life was. Nothing much changes from one to the next. Yes, some are better and some are worse, but the differences are pretty marginal in the grand scale of things.

So come for a few months and see how you get along.

[w11guy]

500,000 Euro is about 20,000,000 THB. Lets say you live for 20 years. That's 1,000,000 a year or 83,000 a month.

'

these kind of milkmaid calculations drive me nucking futs! is anybody who has 500k €UR stupid² enough not to invest that money in order to have an income of at least 100,000 Baht a month without touching a single penny of the capital?

Fair point, but my post did say this was all BEFORE even considering investing/interest etc.

And I am interested in where he could get a 6% return after tax for the next 20 years, with no capital risk and/or currency risk? I want some of that!!

Very easy. You can get 7% on term deposit in Australia at the moment, 5% in SIngapore & Hong Kong just to name a few.

If you dont know what term deposit is lok it up but the money is not at risk.

If you go at risk investments you can go over 9% but guess what?? Its at risk!! No guarantee!

Naam said it!! The smart way to go. You do have to register for tax which might scare the poster away!!

There is no such think as a risk-free investment. Even governments can go bust. If someone has your money, then you can lose it. The risk may be very small, but there is ALWAYS some risk. Inflation can also wipe out most of your investment, so that is another risk. No point getting 7% a year if inflation is 20% a year. These may be good investments but they are certainly not risk-free.

[sangfroid]

Ok,

I want to chime in. I retired at the age of 31. I moved to Thailand and have been living in Pathum Thani since 2006. I purchased a house for 4.3m baht. The house is in my wife's name only. My wife and I live a conservative but comfortable lifestyle. We don't own a car because taxi is abundant and it gets us to where we want to go without having to worry about parking or accident. We have medical insurance that covers just urgent and emergency care only. We pay as we go for the rest of the routine medical/dental care. In my opinion, routine medical and dental care is acceptable and inexpensive. I do worry about urgent and emergency care, however.

As far as finance goes, internet banking is a must. My pension goes directly into my bank accounts in the US. I often use credit cards for most of the purchases when possible. I only use my ATM card to withdraw money when necessary. I do all of my investment online. I use Skype when making long distance calls. Dispite trying to save money as best as possible, our household expense average about 45,000 baht/month.

Although the current exchange rate is a bit hard to swallow, the cost of living in Thailand is inexpensive when compared to living in the US. If you are thinking of building/buying a house, please make sure that the propery is not in a flood zone. From my personal experience, housing construction is substandard in Thailand, especially when it comes to electrical.

There are many basic things in Thailand that need to be developed, but if you don't engage in the Thai political or social system, then life in Thailand is relatively quiet. Crime is higher than I am used to, so make sure you select the right neighborhood as well. Lastly, make sure that you look before you leap so you don't jump "out of the frying pan, into the fire."

Is this a good time to retire to Thailand?

My advice is to come and live (rent) a short time before making a decision to permanently retire in Thailand. You are now 63 yo. There is no more second chances if you blow your savings.

Excellent post! I fully agree with you

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