Is This A Good Time To Retire To Thailand Part 2

[ding]

newbepat,

For me, it has always been just a matter of timing, but was never in question that we'll move to Thailand. Economic and political events in America have pushed things ahead for me and I've put my last house up for sale. I plan to move my family to Thailand in the coming months. We'll live with less, and there will be difficulties and adjustments - that's alright. I've been going to Thailand since about 1993 and usually go twice a year. I have a stable marriage to a Thai woman, which will help. She speaks 3 languages, whereas I can barely speak my mother tongue!

Luck to you!

Edited February 20, 2011 by ding

[jombom]

[quote

Not sure of the point you are trying to make Jumbo. Yes trying to sell land in Mukdahan I was, How is that dubious?

As regards pension. Simple start work at say 18 years of age work for 48 years = retire @ 66 years. Understand Now?

Give booze a rest, where did you get that from, ok i am Irish, but i dont drink booze, maybe a little wine with my dinner ,

Yes maybe i was a little stressed, does that mean i can't ask a question on Thaivisa

Thanks for your comments

Pat

Nothing dubious about selling the land. Just not sure why somebody would buy land in Isaan, and then want to sell it again, but it's not my business.

My dubious comment was about 48 year's contributions. I understand the maths, but I have an idea I read somewhere that 25 years was enough to receive max benefit. Perhaps it was in this link below or somewhere similar.

http://www.citizensinformation.ie/en/social_welfare/social_welfare_payments/older_and_retired_people/state_pension_contributory.html

I did not wish to imply you were drinking too much. Sorry you thought that.

My point was that some people here drink to relieve stress, and it my view it rarely works.

Of course you are entitled to ask a question on Thaivisa.

[newbepat]

Yes buying land in Mukdahan was a mistake. especially when i didn't know what i wanted to do,

or where i would like to live in Thailand

.

as regards pension rules.

You need to:

• Have paid social insurance contributions before a certain age
• Have a certain number of social insurance contributions paid and
• Have a certain average number over the years since you first started to pay.

Very complex

But thats another story

Thanks anyway

Pay

[taff33]

Hi Pat

Been here since 2002 retired at 55 on a private pension, goverment pension kicks in next year.When I came here the rate was up arround 70,had a house built,new pickup, new motor cycle, new life,the best move I have ever made,there are down sides as well as upside but only you can decide if the time is right.If you come over to live go to the 'Thai Visa' party's you'll meet plenty of people to give you advice,(been to two party's last year Pattaya and Chiang Mai) maybe that makes me a 'groupy'.Any way come over and enjoy your self.

Alan

[newbepat]

Hi Pat

Been here since 2002 retired at 55 on a private pension, goverment pension kicks in next year.When I came here the rate was up arround 70,had a house built,new pickup, new motor cycle, new life,the best move I have ever made,there are down sides as well as upside but only you can decide if the time is right.If you come over to live go to the 'Thai Visa' party's you'll meet plenty of people to give you advice,(been to two party's last year Pattaya and Chiang Mai) maybe that makes me a 'groupy'.Any way come over and enjoy your self.

Alan

Hi Alan,

I am guessing you are talking about Sterling, wow you got a good start, Best i got was about 50 euros to the baht 41.5 now

I like the buzz of Pattaya, I like the beach thing,i have been to Chiang Mai I felt a bit lost there,

Never heard of the Thaivisa party's. Must look out for that .

I know there will be good and bad, if i can get somewhere in between i will happy

Kind regards

Pat

Edited February 22, 2011 by newbepat

[jsflynn603]

, c) the fac that top grade medical insurance and nursing are available in Thailand.

I don't often blatantly disagree here, but I shall with this statement.

Though I am no expert on insurance, from what research I have done, it seems apparent that as soon as you have a major issue, either the policy price will explode, the policy will be canceled, or any issue remotely related to the major issue will cease to be covered.

Thus, unless someone can point me in a direction where I can find lifetime coverage that is guaranteed without the above caveats I'll say that for the most part insurance available in Thailand is smoke and mirrors. Contrast this with Panama where a reasonable payment gives you quality health coverage without the above caveats. What use is a policy that vaporizes when one issue manifests itself?

I really am not sure about the quality of nursing in Thailand. My one experience was a recent one at RAM in Chiang Mai where I eventually refused to let the RN take my blood pressure for the third time on the same arm, when the two prior readings bore no resemblance to each other (nor any resemblance to what I generally get myself). She did not know enough to know that repeated blood pressure reading on one arm results in venous congestion resulting in increasing and erroneous numbers. Further, though she had a high quality sphygmomanometer on her desk she refused to use it, instead relying on an automatic blood pressure cuff which often gives erroneous results. I will say that this RN was clueless.

Now this nurse did not know how to take a blood pressure--but that says nothing about all Thai nurses and I really don't know how "good" they are. What I do know is that if you develop bone cancer here or another disease known to create severe pain--you will suffer horribly before you die. The use of opioids and the synthetic analogs are not used for palliative care, they are only used in Intensive Care Units. Thailand has essentially no (correct me if I'm wrong) palliative end of life care. The concept of hospice especially that of hospice utilizing appropriate pain control does not seem to exist here. This is inappropriate in today's medical world, and one can actually use the word "cruel." I hope in time Thailand addresses it's end of life care and embraces dignified hospice and palliative care.

Dying of bone cancer, or another extremely painful condition with proper pain control allows comfort and a dignified end to life for the person dying and for those around her. In the absence of advanced palliative pain control--your death will be a nightmare. This is something to think about. Until this condition changes I strongly suggest that a person maintains ties to an advanced Western health care system, you may not even need to avail yourself of it, but if you do...

[newbepat]

My god what has this got to do with the question i asked

Pat

[Robby nz]

My god what has this got to do with the question i asked

Pat

Not a lot mate except if you are worried about your health.

But anyway he has it all wrong as there are many international insurance companies with the same policies worldwide.

As for medical treatment, can personally tell you, top class.

Dont believe me.... look at some of the reports on the health forum.

Any time is a good time to come here, speculating whether it is best now or will be better in one or two years time is futile.

If you wait a year it is a year lost.

Wish I had done it 10 yrs earlier.

Main thing apart from not buying the expensive toys is to budget carefully.

Work out what you have to spend and stick within that.

Have a look at the NZ bank TD interest rates, as a non res you can get on a 2% tax rate.

[jsflynn603]

My god what has this got to do with the question i asked

Pat

Not a lot Mate, unless you expect to never die in your retirement.

[Tolley]

For investing I recommend that you take control over your own investments.

Look at how Warren Buffet invests in companies using value investing techniques. It will take a bit of time and effort but it will be well worthwhile.

If you are really not prepared to do any research work put your money in a fixed term deposit or something similar.

You can get 6 percent in Oz at the moment.

[newbepat]

Medical insurance : I would think it would be a good idea to heep paying my medical health insurance

back home should i need another hip replacement , or any serious medical procedures done. also

i always have world wide traval insurance. which has some medical insurance built in.

As regards dying does it matter where you die, and about getting cancer there is not much you can do about it

I have first hand knowledge with cancer in my family, nothing could be done no matter what care they got

Investments. fixed term deposits will have to do for now, 3-3.5% + tax (problem is finding a safe bank)

This question of getting 6% in OZ puzzles me, i thought you had to show that you lived there to open a bank account in Australia

As i have never been there i don't know but, i did look on the internet and i was under the impression you had to live or work there to open an account

I did ask the question here before, someone was to ask their bank in Australia, is there such a thing as a non resident bank account?

I shall await the experts on TV to advise

Pat

:jap:

Edited February 23, 2011 by newbepat

[clinique]

Medical insurance : I would think it would be a good idea to heep paying my medical health insurance

back home should i need another hip replacement , or any serious medical procedures done. also

i always have world wide traval insurance. which has some medical insurance built in.

As regards dying does it matter where you die, and about getting cancer there is not much you can do about it

I have first hand knowledge with cancer in my family, nothing could be done no matter what care they got

Investments. fixed term deposits will have to do for now, 3-3.5% + tax (problem is finding a safe bank)

This question of getting 6% in OZ puzzles me, i thought you had to show that you lived there to open a bank account in Australia

As i have never been there i don't know but, i did look on the internet and i was under the impression you had to live or work there to open an account

I did ask the question here before, someone was to ask their bank in Australia, is there such a thing as a non resident bank account?

I shall await the experts on TV to advise

Pat

:jap:

Hi Pat,

I was one of the posters who talked about Oz bank deposits.

You can open these accounts with offshore banks. As you were coming to Thailand I recommended youopen one wiht a bank in Singapore due to good banking regulations, reputable banks , government guaranteed deposits, low tax rates, etc. You do not have to go to Oz to open such an account.

If you would like more information please let me know or PM me (send a private message).

All the best

[F1fanatic]

Medical insurance : I would think it would be a good idea to heep paying my medical health insurance

back home should i need another hip replacement , or any serious medical procedures done. also

i always have world wide traval insurance. which has some medical insurance built in.

As regards dying does it matter where you die, and about getting cancer there is not much you can do about it

I have first hand knowledge with cancer in my family, nothing could be done no matter what care they got

Investments. fixed term deposits will have to do for now, 3-3.5% + tax (problem is finding a safe bank)

This question of getting 6% in OZ puzzles me, i thought you had to show that you lived there to open a bank account in Australia

As i have never been there i don't know but, i did look on the internet and i was under the impression you had to live or work there to open an account

I did ask the question here before, someone was to ask their bank in Australia, is there such a thing as a non resident bank account?

I shall await the experts on TV to advise

Pat

:jap:

Make sure your medical health insurance (and annual travel policy) do not have a maximum 30/60 days abroad clause.

I was with BUPA UK but discovered that it only covered me for a maximum of 30 days (from memory) abroad. Once I retired to Thailand, it was necessary to transfer it to BUPA International which is more expensive.

With luck, you will not need medical treatment, but it can become a real nightmare if you retire here, become ill and your insurance is inadequate.

[Tolley]

I believe Gold Visa cards in Australia cover travel insurance.

Could you use one of these if you lived in Thailand to cover medical insurance?

[irishken]

hi newbepat. what ever your choice is i wish you the best of luck.i understand you wishes to get out of ireland.would love to do it myself but unfortunetly i don't have the 1 million in my bank which some think is needed to retire in thailand.that makes me laugh as i the interest on that you could live on alone.

you been in the situation you are in now i would leave but remember that once you leave ireland for more than 2 years you are seen as a outsider when you come back and will be left homeless if you dont have some back up plan.

will the state pension be paid into you bank account even though you are outside the EU.?

also i wonder why so many people on forums visit thailand when they seem to have alot of negitivity or bad experinces

[newbepat]

Hi Irishken,

I wish i had a million Euros in the bank, I have when converted = 20 million baht yes but thats not the same thing

Who will see me as an outsider after 2 years?

I won't be homeless as i have property in Ireland and not selling for the moment

The state pension will be paid into my bank account , and it does not matter where i live in the world

I think asking quetions on forums like Thaivisa gives you more knowledge ( that can't be bad)

Pat

:jap:

Edited February 23, 2011 by newbepat

[Sheryl]

Factor into your budgeting the need for health insurance. Foreigners are not eligible for free health care here, and the costs can be considerable. Insurance needs to be taken out before you are ill, preferrably while you are still in overall good health, as ti will not cover any pre-existing condition. Far too many expats live this until too late and are then faced with huge costs and find they are no longer insurable.

If you are coming first for just a few months, get travel insurance that includes hospitalization cover. Then if you later decide to settle here, get a local policy and keep up the premiums.

[WAYNEandAEI]

I believe Gold Visa cards in Australia cover travel insurance.

Could you use one of these if you lived in Thailand to cover medical insurance?

Gold Visa cards in Australia covers travel and medical insurance when you purchase your trip with the card for short stays only.....Not sure but maybe up to 3 months or so....No you cant use this cover if you live here

oops

Edited February 23, 2011 by WAYNEandAEI

[GreenSnapper]

About accounts in oz$, you got lots of advice in your previous thread.

Why do you ask the same questions again?

[newbepat]

About accounts in oz$, you got lots of advice in your previous thread.

Why do you ask the same questions again?

I did not ask the question again i was replying to Tolley when he said

You can get 6 percent in Oz at the moment.

Pat

:jap:

[newbepat]

For investing I recommend that you take control over your own investments.

Look at how Warren Buffet invests in companies using value investing techniques. It will take a bit of time and effort but it will be well worthwhile.

If you are really not prepared to do any research work put your money in a fixed term deposit or something similar.

You can get 6 percent in Oz at the moment.

This is what Tolley posted

Pat

[Arkady]

An investment worth considering for any one living in Thailand is in Thai real estate investment trusts (REITs). You get a dividend yield of 7% plus on these relatively low risk property investments. They are less risky than REITs in most other countries because they are not allowed to gear up. Examples (by their stock codes) are TFUND, QHPF, CPNRF and there are others. You need to open an account with a Thai broker and just buy and sell the REITs in the stock market. Most should be able to give you a list of REITs and their yields and other information. You don't need a huge amount of money to open an account with a Thai broker. Unlike buying your own condo or donating a house and land to your Thai gf's family or her Thai bf, these property investments are managed by professionals and you can sell and get your money out of the country any time you want.