Retirement in Krabi.

[bangkoklasse]

I am an American by the way. We have it easy with retirement visas

I have a feeling this American preferred status is going to be disappearing soon. A buddy of mine was recently exempted from the new visa run rules on the basis that he is an American.

Er, I don't get this at all. If he is being exempted from the visa run rules how is he NOT being preferred? I don't know anything about this of course, but to question it's logical assumption. Or perhaps you just enjoy saying that "American preferred status is going to be disappearing soon." Odd you choose a few words out of context and off topic to comment upon.

I am here on a non immigrant retirement visa and have just renewed it for the 7th time. This fellow's case is different because if he "commits" he begings to tick the clock toward there being no inflation adjustments in his case. I am not yet of "retirement age" for American benefits and do not expect to collect for a decade anyway when I am 70 to get a larger lump "later" when it might be most useful.

In this fellows case his greatest enemy is the unknown of domestic inflation and currency exchange rates in ten years. Present conditions are a nice start point, but a poor planning tool if his income is fixed and there is no safety net. Look into the provincial hospital in your area and see what happens to health care if you do not have cash to pay for a private hospital and my point should be clear.

Do you mean that you have an extension of stay that you have renewed 7 times or??

[kleelof]

I have a feeling this American preferred status is going to be disappearing soon. A buddy of mine was recently exempted from the new visa run rules on the basis that he is an American.

Er, I don't get this at all. If he is being exempted from the visa run rules how is he NOT being preferred? I don't know anything about this of course, but to question it's logical assumption. Or perhaps you just enjoy saying that "American preferred status is going to be disappearing soon." Odd you choose a few words out of context and off topic to comment upon.

I am here on a non immigrant retirement visa and have just renewed it for the 7th time. This fellow's case is different because if he "commits" he begings to tick the clock toward there being no inflation adjustments in his case. I am not yet of "retirement age" for American benefits and do not expect to collect for a decade anyway when I am 70 to get a larger lump "later" when it might be most useful.

In this fellows case his greatest enemy is the unknown of domestic inflation and currency exchange rates in ten years. Present conditions are a nice start point, but a poor planning tool if his income is fixed and there is no safety net. Look into the provincial hospital in your area and see what happens to health care if you do not have cash to pay for a private hospital and my point should be clear.

Yes, you are correct; that was a bit of a non-sequitur. Sorry about that.

I just meant it as an example of American preferred treatment that could be disappearing soon.

[aguy30]

I can't believe that almost anything is cheaper in the UK. Living in Thailand on 113 or is it 163 per week may be difficult, BUT what does that provide while living in the UK even with some extra benefits? Come to Thailand to live like a Thai, <deleted>? Either way it sounds like a pathetic quality of live.

It seems from the comments that many TV members border on being destitute. I am surprised no one has suggested that the OP should rent a farm and produce his own food to stay in budget.

[Justanotherpassword]

I am an American by the way. We have it easy with retirement visas

I have a feeling this American preferred status is going to be disappearing soon. A buddy of mine was recently exempted from the new visa run rules on the basis that he is an American.

Er, I don't get this at all. If he is being exempted from the visa run rules how is he NOT being preferred? I don't know anything about this of course, but to question it's logical assumption. Or perhaps you just enjoy saying that "American preferred status is going to be disappearing soon." Odd you choose a few words out of context and off topic to comment upon.

I am here on a non immigrant retirement visa and have just renewed it for the 7th time. This fellow's case is different because if he "commits" he begings to tick the clock toward there being no inflation adjustments in his case. I am not yet of "retirement age" for American benefits and do not expect to collect for a decade anyway when I am 70 to get a larger lump "later" when it might be most useful.

In this fellows case his greatest enemy is the unknown of domestic inflation and currency exchange rates in ten years. Present conditions are a nice start point, but a poor planning tool if his income is fixed and there is no safety net. Look into the provincial hospital in your area and see what happens to health care if you do not have cash to pay for a private hospital and my point should be clear.

Do you mean that you have an extension of stay that you have renewed 7 times or??

Annual renewal for persons aged 50. Came in 2007.

Edited June 7, 2014 by Justanotherpassword

[asdecas]

38K Bath per month may be possible now if you are extremely careful, not a lot of room for leisure already.

But I wouldn't advise you to take the risk considering exchange rate fluctuations, rising prices of everything in Thailand, possible health issues, changing visa regulations, etc.

Personally, I wouldn't attempt it,...unless I was fluent in Thai, and had at least a few connections, such as a Thai that held you in great esteem. In Chiang Mai, 38k baht is about the average monthly income for Thai folk (like a taxi driver), who live like Thai's, and are part of extended families. For a farang (a term that merely means Westerner), it is not so easy get Thai prices on goods and services unless you are seen as an integrated resident,...which includes dressing like a Thai, and having a fundamental understanding of their Buddhist culture. Chiang Rai or Nong Khai would likely be easier, price wise,...but from Bangkok and south,...you'd best have 60k baht+ per month for a no-frills, austere retirement.

From what I've noticed....foreigners who respect the Thai culture, ie., refrain from wearing beach clothes unless they're at the beach,...have a lower cost of living than farang pushing their cultures onto the Thai.

This is wildly inaccurate. 38k is at least three times what the typical working class guy makes a month, even in Bangkok, and 60k a month is great for a comfortable life, even in Bangkok, even for a Westerner. You've got a problem with mathematics or with reality, one or the other.

You are absolutely correct, no way do taxi drivers (the example stated) make 38k Baht average per month. And I seldom exceed 40-45k per month, living comfortably. However, factually inaccurate though the first part is, it is always true to say that one man's meat is another man's poison, and that while one person can live happily on 10k, another struggles on six times that.

[bigbamboo]

I get by on just under 10k a month, rent for 1 year pre-paid (3200pm equiv), wife's shoe business covers utilities + wiffi (1,700), petrol and any titbits for friends & family. 10k car loan comes back on line in Sept after using up the tax refund.

10000 baht a month?

Even assuming you don't have kids and you are happy to go native you must have a very understanding wife!

[LivinginKata]

I am amazed that this topic has run to 3 pages so quickly. If I might throw on my 2 pence worth. The OP must consider the free benifits that he gives up to live in Thailand. The biggest being free health care. Health insurance can be quite expensive for the over 65s here in Thailand. And let's not forget the big safety net in the UK not available in Thailand. But the OP always has to keep the return air fare in hand to get home and access all those benifits.

[larsjohnsson]

If he have money enough to get the extension of stay based on retirement, he can live on his pension here.

But in the long run the inflation will kill his pension. Without getting any raise at all, it will not be worth that much 5 or 10 years from today. Longer than that there is no way to even survive on it here

Edited June 7, 2014 by larsjohnsson

[grumpyoldman]

Lived here 9 years +, would not recommend trying to get by on 38,000, no matter what these other CC's are talking.

Posters posting about "leeches', stop please, it sounds racist, everyone makes the bed they sleep in, if thats yours, your dilemma, no need to be insulting to Thais.

[asdecas]

I get by on just under 10k a month, rent for 1 year pre-paid (3200pm equiv), wife's shoe business covers utilities + wiffi (1,700), petrol and any titbits for friends & family. 10k car loan comes back on line in Sept after using up the tax refund.

10000 baht a month?

Even assuming you don't have kids and you are happy to go native you must have a very understanding wife!

I don't know why people invariably question the amount that others state they can live comfortably on; because this person feels that to live happily they need X amount has absolutely no bearing on others' ability to feel they are living like kings on a quarter of that sum. And what does an understanding wife have to do with it, for God's sake? A wife could well be the prime mover in such a lifestyle - such women do exist, even in Thailand and even in the cities, contrary to the image of Thai womanhood entrenched among certain elements on ThaiVisa

[Justanotherpassword]

Eddie, a thought, got a sister, brother, cousin, nephew etc. where you could have an address of record in UK? Establish your UK bank account there for the interum at least and determine how many months you may live outside of the UK annually to keep receiving inflation adjustments. I am sure that information must be available on line. Even if you visit friends and family for a few years "going whole hog" in one go can have pitfalls. Glad for you you are researching this and taking it in steps. I am reminded of the old saw: "If I knew I was going to live this long I would have taken better care of myself." Surely, you have also saved and invested for your retirement years as well.

[bangkoklasse]

I get by on just under 10k a month, rent for 1 year pre-paid (3200pm equiv), wife's shoe business covers utilities + wiffi (1,700), petrol and any titbits for friends & family. 10k car loan comes back on line in Sept after using up the tax refund.

10000 baht a month?

Even assuming you don't have kids and you are happy to go native you must have a very understanding wife!

I don't know why people invariably question the amount that others state they can live comfortably on; because this person feels that to live happily they need X amount has absolutely no bearing on others' ability to feel they are living like kings on a quarter of that sum. And what does an understanding wife have to do with it, for God's sake? A wife could well be the prime mover in such a lifestyle - such women do exist, even in Thailand and even in the cities, contrary to the image of Thai womanhood entrenched among certain elements on ThaiVisa

Probably because you make the OP a huge disservice when saying 10k is plenty of money for living here.

[1FinickyOne]

Not sure of Ao nang but there are plenty of places you can live for that money… though not lavishly, decently for sure… but on the same money can you live in England? I think that is the important question, where you could live better.

[Anon999]

It's good to see there is some good advice on here but there does seem to be omissions.

Apart from the initial set up costs, there will be some it's inevitable even if you rent. Things go wrong and/or need replacing, like domestic appliances, clothes, footwear, even light bulbs to name just a few. The landlord may be prepared to replace a fridge/freezer but small items I think not in many cases. Any breakages will of course be down to you and if you have a lease on a house then redecorating needs to be covered or it will be 'up to you'!

Your lifestyle will determine the transport you'll be using, bicycle, motorbike or tuk tuk unless you rent a motorbike or a bus passes not far away.

Another factor is your health in the UK, do you have to visit your doctor or dentist regularly? Living here without medical cover is not advisable and the cost of insurance probably prohibitive, it's usually age limited and the premiums do go up, sometimes substantially.

We do not know if you currently own a property in the UK. If so your best bet would be to rent it out through an agent, but do your homework first. The rent will usually increase over time but some maintenance costs will be required. Should things get difficult then at least you will have the option of returning home, not entirely impecunious.

As far as location is concerned then a small city, maybe in Isaan could be a good location. With easy local travel, shops, a government hospital with ambulance service if needed, markets, restaurants, inter city bus services and so on. Not to mention a number of farangs. There may also be a local website or newsletter to keep you informed about immigration issues and even social events and local places of interest to visit.

I have a friend who is also living here on a basic UK state pension and he managed to find himself a Thai wife as well. The lady in question is in her 50's so a Thai man would not even look at her. However, everything is down to a lot of research and doing an initial survey of the possibilities.

Best of luck.

Edited June 7, 2014 by Anon999

[sandhurstmolonski]

Yes it is possible if you are carefull.

The Pension Service will send your pension to your bank account in Thailand.

As said, your pension will never increase as long as you live in Thailand.

As for long term Visas/Extensions ? You need 800,000 Baht in the bank or 65,000 Baht monthly Income or a combination of the two. Unless Married to a Thai.

After encountering so many folks (Brits) on TV talking about their pensions do not meet the minimum 65,000 baht/month for a retirement

visa in Thailand -- I'm wondered why U.K. state pensions so low?

I'm not trying to be a smart-alec, just honestly curious. Are U.K. state pensions something like social security in the U.S? Something

separate from regular retirement from a regular job?

Not just the UK , but may others places .

With many many more to follow as past pensions become either impossible to fund . Or were never correctly funded in the first instance .

Been some really good information here , have enjoyed reading the Thread .

[Nielsk]

You could live like a king on that money here....but I don't drink or smoke and own my house.

No You cannot live like a King don't say that. Not fun living in Thailand and have to turn every penny around before spending.

As written by others above, make sure to take everything in concideration before a permanent move to Thailand..

Tha´ts just my opinion.

[Justanotherpassword]

I think "Dotpoom" was being ironic. "If you don't live in my house" is the telling part. lolz

[Refresh]

Its got to be better than living in cold, wet, expensive UK

[davidmann]

no

[smotherb]

You could live like a king on that money here....but I don't drink or smoke and own my house.

Like a King? What a load of crap. Even if you live alone, have no part-time companions, don't smoke, don't drink, don't get sick, don't have an accident, don't need medication, don't have any debt, and you live rent-free (if you own your own house you have taxes and home repair bills); you still have to eat, buy sundries, do laundry, pay utilities, travel about, and hopefully enjoy your life.

Don't get me wrong, there are thousands of falang English teachers living here on B30k/mo and many TV posters--like dotpoom--who claim B20k/mo is plenty on which to live, but they DON'T live like kings. I don't consider that an enjoyable living situation, especially when retired.

However, you could subsidize your income by teaching English, or if you have a viable skill and qualifications, you may even land a decent job. I have a friend here on a limited pension who teaches as a substitute--he teaches only when he chooses to do so. He makes B10-15k/mo he calls his beer money--he claims the teaching not only provides extra funds, it also keeps his mind busy and saves money on drink.

The B38k/mo you state does not meet the Thai requirement minimum for a retiree--B65k/mo or B800k in the bank. I believe, those amounts are halved if you are married to a Thai, but then you have two mouths to feed on the B38k.

If what some posters have said is true about any of your pension increases being frozen, I would consider maintaining a UK address, having the pension sent to your UK bank and simply use ATM here, and returning to the UK periodically to qualify for pension increases--of course, if the cost of returning to the UK is greater than the potential pension increases . . . .

The bottom line; you can live on that little money here in Southeast Asia better than you can in Europe, North America, or ANZ.

[JB300]

YES, you can manage to have a good decent life in Thailand with an income of THB 38000 pm.

The following road posts will help you to that aim :

1) have THB 350000 ( GBP 6500 ) ready to be deposited at a Thai Bank plus a verification of income letter from your embassy stating you get a monthly income of GBP 652 or, alternatively, have the sum of THB 800,000 deposited in a Thai bank for three consecutive months prior to your retirement visa expiration ( two months for the initial application ).

2) get a one-room apt in a Bangkok suburb near a major shopping mall and communications node for THB 3000-7000 ( you may need to refurbish it yourself with the such as window netting plus provide AC, fridge, wash machine etc which you can easily buy in Thailand or send from the UK by ship as used personal belongings)

3) buy annual health insurance in Thailand ( THB 40000-80000 )

Unlike other embassies (e.g. US) where they rubber stamp your declaration of income without validating it, you actually have to prove it to the British embassy before they'll issue you with a document confirming it.

OP is from the UK, so unless he can show an income of approx £1200 (65.000THB) per month then he would need to get the declaration for the income he is receiving & top it up with THB in an a bank account (e.g. I believe a pension of approximately £700 per month was mentioned, let's call this 460,000THB, he'd need to have another 340,000THB in an account to make it up to the 800,000THB required.

Edited June 7, 2014 by JB300

[mrfaroukh]

Well with that much money you must get used to Thai way of living. It means cheap condo, not much of outing, no drinking everyday at the bar, etc

[Maestro]

Removed a troll post.

[LivinginKata]

Off topic posts removed - the OP did not ask about a Thai wife.

[Scotssing]

Been some really good information here , have enjoyed reading the Thread .

[khunPer]

I know people (farangs) happily living on around 35k/m, so 38k/m is possible to live for in Thailand for, but it’s all depending of life-style. However you may be better off than back home (for now, don’t know about the UK index system).

Best to have enough savings for a fixed retirement deposit of 800k in a Thai bank, so you don’t need any visa runs or hassle with proof-of-income when renewing retirement extension.

[Scotssing]

The UK state pension is meant as a failsafe and possibly works in the UK as major expenses like health and housing would be taken care of (if one wasn't renting from the state one would have paid of the mortgage by the time of retirement). Even so many would find it very difficult to live on the state pension alone in the UK. It is certainly not intended to cover all the expenses one might have when one lives overseas - like a hip replacement. As many others have observed it is frozen and currency fluctuations can pay havoc with your planning. Also one has to take into account Thailand is no longer a dirt cheap place to live in and is now a middle income moderately prosperous nation. Looking into the crystal ball over the next 20 or 25 years, the life expectancy of an average retiree, Thailand should narrow the gap with the UK or even overtake it.

Many Brits would have supplemented their state pension with an occupational pension or savings. Some when coming to Thailand will have sold up their properties to provide the capital for their retirement. To live a more lavish lifestyle some additional funds beyond the state pension would be necessary and may provide that cushion against inflation, currency changes and unexpected events.

As others have pointed out the sum you need now, at this point in time, is very much a personal decision dependent on what your expectations are and what sort of lifestyle you would like to lead. I would find it hard to live comfortably on less than 80-100000 per month but that would just provoke howls of derision from others. Each to their own

I also get mildly irritated when longer term residents moan about the costs when it is clear they never took seriously the long term financial implications of their decision to go and stay in Thailand. The OP at least is at that time when a wrong or misguided decision can be avoided or the pitfalls planned for

[ajarnsiam]

OP, please be aware that some of the suggestions offered here require you to break the laws of Thailand and/or the UK.

For example, it is against the law in Thailand for a person on a retirement visa to work as teacher, or in any job; it's also against the law to "work" in any voluntary role if you are on a retirement visa. Deportations due to breaking these laws are not uncommon, but they are not well publicised for obvious reasons. Current rules state you would not be allowed to apply for a new visa for 5 years.

It is against UK law to claim a pension on the basis of a fraudulent UK residence when you are registered and living as a retiree in Thailand. I'm not sure what the penalty would be for this, but I guess it could jeopardise your pension rights as well as giving you a criminal record.

In the past many westerners have lived in Thailand on or close to the breadline, often by bending the visa rules to suit themselves; those days are coming to an end, due to a combination of more effective enforcement and tighter rules. These rules will get tighter over the next few years.

There has also been a lot of good and realistic advice on this thread. My advice would be: if you can do it within the rules then do it; if you can't then don't. Destitute westerners are now a staple of the Thai press; understandably there is little sympathy for them.

[Estrada]

The Inland Revenue will deduct income tax from your gross payment.

[spambot]

The responses to your question is very good and balanced content from the contributors.

Retirement here is a very contextual decision and can only really be understood by being here for some time - I would suggest for this for you to invest £750 on a 3/6 months for flight and stay - Your living costs in a non expensive part of Bangkok can be around £550 / month (Rent, food, beer, travel, utilities) - The costs in saving from not being in UK will somewhat / pay offset the Bangkok cost for same things. And for example just on savings from utilities, House insurance, Local authority charge(UK), food, beer can be a significant contribution to lowering your offset amount.

Location - Making this investment will help you become a wiser man to make the choice more easy for you. I recommend you make Bangkok your base for the ease and options to travel from Bangkok to potential areas to investigate the location possibilities for longer term retirement

On the financial side - Your earnings from state pension are doable, but as everyone on this forum knows everyone has different needs and lifestyles - However there are many that are living on what your earning on state pension and having a good life here.

Health costs can be a problem if you have a sudden need arising and this is a worry that most of think about by being here - But also need to balance this with feeling better everyday by being here and possibly being more healthy - If you do not go off the rails with the temptations on offer.

State pension fixed - It does get fixed at a level once you retire here, but this is not immediately since you are not considered as being resident by UK until you have been here 2/3 years - Also you can reset the freeze on the retirement pension fixed point by periodically going back to UK and becoming a resident again in UK - The rules on all pension you do however need to talk with UK Gov pensions since there have been a number of changes in how long it takes to be a non resident and also what are the conditions for resetting the pension indexation as being regarded as resident in UK. So my details here are for general guidance only.

Your first paragraph, I have been here eight years, and never heard about that. What about other posters?

Can you be more specific - It is not clear what you are asking.

What I'm asking is, if someone on a UK state pension comes to retire in Thailand, does it take 2/3 years before the WDP accepts he is retired in Thailand?

If that is the case, then that would mean he would still get his annual pension increases for 2/3 years, wouldn't it?

YES he would.