retire in bangkok how much money?

[muffinzman]

Louis1953 they have now changed the eligibilty for the full pension to working life in australia to 35 years not 25 years as of january 2014 so i hope your wife still fits in the time frame? I have also been told that international pension deals with overseas pensions and overrides centrelink, has anyone heard of this? Im going to call them in the new year. Also my friend is on disability and centrelink say he can only go overseas for six weeks at a time but international pension told him its actually 20 weeks but only paid for 6 weeks. Im confused

[ubonjoe]

This topic in the other visa forum has info about OZ pensions. http://www.thaivisa.com/forum/index.php?/topic/163135-Australian-Aged-Pension#entry7192336

[1ma]

Chiang Mai on 45k would be a lot nicer that BKK on 45k.

[Doc 69]

Does she have family here? If so, are you going to have to support or at least "dodge" them when they come with their hands out? One million Baht is no where near enough to live. You didn't say if you had a house already. Will you require a vehicle? I came with 5 mil, bought a house, shop for the wife and truck and now have 2 mil, but, my pensions have kicked in and I still worry.

Good luck to you, hope things work out.

[sercoed]

Muffinzman, I am getting an Australian pension here and I can tell you it's not 45,000 baht a month. It's $426 Australian a fortnite which works out to 23,856 baht a month at 28 baht to the dollar. Cheers, Sercoed

[louse1953]

Muffinzman, I am getting an Australian pension here and I can tell you it's not 45,000 baht a month. It's $426 Australian a fortnite which works out to 23,856 baht a month at 28 baht to the dollar. Cheers, Sercoed

Don't know what pension your on mate,but I rekon that would be $426/week.Oz aint that bad,yet.

[burlap]

My Bkk expenses monthly for 2 people:

rent 7,500

utils 1,500

internet 1,000

food 6,000

dining 3,000

transportation 3,000

entertainment 4,000

misc 4,000

TOTAL 30,000

one year 360,000 + any medical &emergency expense

We don't have a luxury lifestyle - but we're comfortable and eat well. (Neither of us drinks or smokes - that saves quite a bit.) In the US on $1,000/month I'd be miserable!

[slipperylobster]

My Bkk expenses monthly for 2 people:

rent 7,500

utils 1,500

internet 1,000

food 6,000

dining 3,000

transportation 3,000

entertainment 4,000

misc 4,000

TOTAL 30,000

one year 360,000 + any medical &emergency expense

We don't have a luxury lifestyle - but we're comfortable and eat well. (Neither of us drinks or smokes - that saves quite a bit.) In the US on $1,000/month I'd be miserable!

That is right on the money. Living in Thailand "should be cheaper" than your homeland. If you spend more, than you are making credit payments on homes or new cars. Bringing enough starter money to get a new scooter and basic household items should be considered. After that you are good to go. Please be reminded that most of the gals here expect something of an allowance. I do not know many guys who have gals that do not receive allowances for living/shopping/credit issues. Also watch out for that "Sin Sot", which could possible break your bank.That is the big hit. Try to put off the marriage for a few years....if she sticks around (on your budget) then you got a good one.

[attrayant]

It's a visa / extension qualification query, not a cost of living one.

But sensible minds would like to think that the former must surely be based upon the latter, or at least somehow derived from it.

[slipperylobster]

It's a visa / extension qualification query, not a cost of living one.

But sensible minds would like to think that the former must surely be based upon the latter, or at least somehow derived from it.

Obvious to me that if one must keep a certain amount in the bank (for proof of income), that one must ascertain the liquidity (outflow of funds). Admittedly, the OP never requested a synopsis of expenditures, but perhaps he should have. We are all here to provide help, and sometimes we ramble on.

[Thanet]

If you are hoping for an Australian Aged Pension, be aware that you have to reside in Australia for the two years preceding your application for it. You might spend all your money here, then apply for your pension and be told that you won't get it for another two years, and that you have to stay in Australia. broke, for that entire two-year period.

Can you tell me where you got this info.I have a form with all details on what is required and this 2 years is not there.I got the form from Mark Butler who was minister for pensions and the aged and my local MP.Also I know many Ozzy's living here and this didn't' apply.Just had to be in the country to apply.What you say has no logic,the govt.are going to pay me unemployment benifits plus health,etc for 2 years while I wait.On the other hand,I could wait in Th.at no cost to the taxpayer at all.I know logic and govt.don't always go together,but it doesn't seem right to me.

The DHS website states that you need to be an "Australian Resident" on the day you make your claim:

http://www.humanservices.gov.au/customer/services/centrelink/age-pension

From the same website here:

http://www.humanservices.gov.au/customer/enablers/residence-descriptions

This is how they decide whether you aare a resident or not:

Living in Australia

You are living in Australia if Australia is your usual place of residence. That is, Australia is where you make your home.

When we are deciding whether you are living in Australia we will look at:

• the nature of your accommodation, and
• the nature and extent of your family relationships in Australia, and
• the nature and extent of your employment, business or financial ties with Australia, and
• the frequency and duration of your travel outside Australia, and
• any other matter we think is relevant

And here is what the Law says:

http://guidesacts.fahcsia.gov.au/guides_acts/ssg/ssguide-7/ssguide-7.1/ssguide-7.1.4.html

In particular:

7.1.4 Requirements for Former Residents of Australia Receiving a Portable Pension Summary - for Age, DSP, WP, WidB, BVA

A person arriving in or returning to Australia (1.1.A.320) must satisfy the Act's definition of Australian resident (section 7(2)) in order to lodge a proper claim for a pension. A former resident who returns to Australia and is granted a pension (Age, DSP, WP, WidB, BVA), or who transferred under SS(Admin)Act section 12 to Age CANNOT take that pension outside Australia if they leave again within 24 months after having again become an Australian resident. The purpose of this legislation is to discourage people from coming to Australia just to get an Australian pension to take back overseas.

and..

Former residents & residents of external territories (1.1.E.230)

When someone, who was formerly an Australian resident, returns to Australia and again becomes an Australian resident and subsequently is granted a pension under the SSAct section 43(1), or transferred to Age under the SS(Admin)Act section 12, on or after 20 September 2000, that pension is not payable outside Australia if the recipient leaves Australia within 2 years of again becoming an Australian resident.

Even if they give you a pension on your return, they'll stop paying it if you leave again within two years - the DHS has access to your immigration records.

Plan accordingly if you are depending on your aged pension.

Edited December 26, 2013 by Thanet