Financially independent, Under 50, Seeking Options....

[garyinhuahin]

Don't understand the negative comments to this guy, is there some jealousy rearing its ugly head? 

 

Of course 100,000 baht or £2,000 a month is a decent amount to live on in Thailand as long as you aren't hammering it hard every day and having orgies.

 

He's done the right thing and come to a well-known discussion forum for some advice and what does he get?. I've been visiting and living in Thailand for years and the fascination for the place has never left me.

 

Some people have a half cup full attitude and not a boorish know-all attitude mentioned in another thread.

 

For what it's worth, take 6 months just travelling around to find out what area suits you best, don't fall in love too quickly, there will always be something better around the corner. Enjoy yourself!

 

 

Yes, 100k/month is more than liveable. But it's hardly F**k you money. Important point is how much of a next egg is there? With enough, there are no great problems. If all you have is 100k/month, and nothing much in the bank, it'll take some maneuvering to sort things out.

 

Good luck.
 

[bitcoinman]

U Can spend less than 20k baht monthly here, get tourist visa, go Europe every other year and that s it.

Anyone telling it s impossible is a fool or a criminal and if you need to make some £, invest.... Or let bank invest for you. Have you heard about stocks?

300k bucks at 5 percent =15000 dollars.

Around 35000 bahts a month. Bingo, you got it, enjoy Thailand....!

You can even spend less and let compound interests work for you to compensate for inflation....

By the way, I am an economist, probably one of the best in the world. Trust me, I became rich at age..... 7!


No no, you welcome! Edited July 30, 2014 by bitcoinman

[ronthai]

Go elsewhere NOW, OR

 

lucky you USA can own your own business, which I can't ....

.... don't have 2 million baht and DO NOT need 4 Thai workers

 

(SECRET: 4 Thai workers do as much work in a week as I CAN DO IN ONE DAY - END secret)

 

Good luck, try to focus on Cambodia, not perfect, same as TH 20-25 years ago.

You are young, BUILD, not in TH

[IsaanUSA]

I didn't read all the replies, but I think your best option is to do the long tourist visa first.  Give Thailand a try for a multi-month visit.  In a year or two, if you still want to live in Thailand, just get the Elite card if you're not already married.

 

For goodness sakes, if you have guaranteed money coming in that is plenty to live off of, do not try to become an English teacher or find some part time work.  It will just take up your time and not provide any "real" additional income.

[ginglee]

Having been to Thailand holidaying for 8 years, I always dreamed of living in Los...Last October I decided to have a 6mth experience there(10days home for Xmas) . It have me a totally different view of Thailand, and the fact that I was years off retiring- I like to keep busy. As for 100,000bht pm being enough...Depends on you. I know guys that live nicely on 50k pm, others that spend 300k in a month and go back offshore to work skint.  I'd recommend you try 6mths like I did, and think again.

[jacko45k]

There is a lot more to Thailand than a 2 week vacation will teach you.

It seems more likely you have an attachment to a certain lady than to the country.

And for someone with plenty money there are really more options.......

 

If you want to retire, you need to stop rushing and planning..... try staying for 2 years and get back to us! :d

[Maestro]

...I read on AUA's website they will help you with an 1-year ED visa, you need to study 4 hours a week and the course price is under 25,000 RMB for the year. Well worth it if you are serious about living here.

25,000 RMB = 129,441 THB

Sent from my Nexus 7 using Thaivisa Connect Thailand mobile app

[alfieconn]

I was talking about the house rental, however its a moot point, a 30% increase in 3 years is what I was referring to.

 

Do you dispute my other figures ref 10 years ago?

Still waiting to hear where I can buy a new Honda Civic for 8,000 pounds.

 

That was on the figs of 3 years being as that was the only time frame you mentioned !

Anyway it's good to see that other posters are posting re the OP'S post on visa options not going off topic like your good self.

[alfieconn]

 

 

 

 

Two words not mentioned, inflation and exchange rates, both of which the OP has no control over.

 

Lets use the 100k mentioned.

A few years ago I knew guys living well on 1000 pounds per month giving a 75k baht per month life style.

Inflation and exchange rates mean the same life style will now cost 100k baht per month, or two thousand pounds per month income needed.

 

Can the OP take that sort of hit.

For inflation, 3 years ago I was renting a 10k per month house that now rents for 13k per month, you can do the maths.

Petrol that cost 20 pence per litre now costs 80 pence per litre.

A car that cost 9000 pounds will now cost 16,000 pounds.

 

Is the 100k per month index linked, if so to where?

What sort of income will the OP be getting in say 5 or 10 years time, using the examples above, will it still provide the same lifestyle he can buy today?

 

I dont know of any expats that moved here to live on 30k per month.

I would be interested to know what sort of lifestyle that would provide a 36 year old guy.

Will he be able to afford a mortgage and put money into a retirement plan or private pension fund?
 

I am far from negative, more a realist, some need to take off the saffron tinted glasses and experience the cost of living in Bkk for example.

 

Wait until the op experiences the delights of the bureaucracy involved in something as simple as opening a bank account.

Need work permit sir.

Must buy this insurance product sir.

Let the Op try and obtain financing to purchase a car.

Suppose the OP wants to buy a condo,try the bank for financing.

 

The OP is still in holiday mode, nothing wrong with that, Thailand has seduced many and will continue to do so.

The OP should be aware of the realities of living here full time and long term.

 

I wish him well.

 

 

The OP was asking about his Visa Options only, now what part of that don't you understand ?

 

Incidently why are you talking about exchange rates when the OP has approx 100,000 baht per month

 

But anyhow, just a few things you have wrong

 

A few years ago I knew guys living well on 1000 pounds per month giving a 75k baht per month life style.

 

A few years ago (lets say 3 years as per below) the rate wasn't 75, closer to 48.

 

For inflation, 3 years ago I was renting a 10k per month house that now rents for 13k per month, you can do the maths.

Petrol that cost 20 pence per litre now costs 80 pence per litre.

A car that cost 9000 pounds will now cost 16,000 pounds.

 

Related to the exchange  rates, the car cost  will be nearer 8,000 pounds not 16,000 pounds

 

If your relating everything to 3 years ago then people will be approx 10% better off now, obviously allowing for inflation !

 

 

Asking about exchange rates coz I would love to know where in farangland he is getting 100k baht per month income, its all about exchange rates aint it?

 

A few years ago, ok sorry for being so vague, lets say 10 years ago when the Brits were big timing it with 75+ baht to the pound.

The same guys I refer to are now living out a 50k per month life style, so in reality are going backwards.

 

As for car, Honda Civic, 10 years ago 9000 pounds, today new Honda Civic, 800,000 baht, please let me know where I can buy a new Honda Civic for 8,000 pounds or 400,000 baht.
 

BTW, I offered the guy 4 suggestions on where to live in Thailand, you have offered how many?

 

 

He didn't say he had invested in farangland (as you call it) and anyway it's irrevelent to the OPS post !

 

And anyway how can you dispute someones income when you don't know how much they have invested !

[hhgz]

"If people live in Thailand on 30,000 baht then how is 100,000 baht not financially independent ?"

 

Because the OP wants to invest 5 months of income on a This Elite card.  The OP has muddled the issue, because he has changed the definition of his financial stature.  Originally posting as "financially independent", he then altered that to "financially well off".

[squarethecircle]

 

...I read on AUA's website they will help you with an 1-year ED visa, you need to study 4 hours a week and the course price is under 25,000 RMB for the year. Well worth it if you are serious about living here.

25,000 RMB = 129,441 THB

Sent from my Nexus 7 using Thaivisa Connect Thailand mobile app

 

Good call, I meant 25,000 Thai Baths. Crazy that people abuse the ED visa system when all you need to do is 4 hours a week of lessons (which at least from the AUA website look fun and high quality), geez.

[ldnguy]

 

 

The Elite card is rubbish, 500.000 baht, and after five years it's all gone. Thank you for your 500.000 Baht, now beat it, unless you want a lot of hassle with plenty of paperwork.

 

 

You can just buy another one every 5 years if you still want or need it.

 

I suspect they will get plenty of repeat sales on these things.
 

 

Maybe, but it's an awful lot of money just to stay in a country when you also have all the living expenses.

 

That's why it's called an ELITE card. It's for people with money. It's not for cheapskates. If you can't afford it, then it's not for you.

 

For most people, living here would be cheaper than living in the West even including the cost of the card. It's on;y £2,000 a year. That won't even get you a nice place to rent for a month in London. The Elite card is incredibly cheap.

[ukrules]

 

 

 

The Elite card is rubbish, 500.000 baht, and after five years it's all gone. Thank you for your 500.000 Baht, now beat it, unless you want a lot of hassle with plenty of paperwork.

 

 

You can just buy another one every 5 years if you still want or need it.

 

I suspect they will get plenty of repeat sales on these things.
 

 

Maybe, but it's an awful lot of money just to stay in a country when you also have all the living expenses.

 

That's why it's called an ELITE card. It's for people with money. It's not for cheapskates. If you can't afford it, then it's not for you.

 

For most people, living here would be cheaper than living in the West even including the cost of the card. It's on;y £2,000 a year. That won't even get you a nice place to rent for a month in London. The Elite card is incredibly cheap.

 

 

I agree it is cheap, of course it all depends on how you look at it. Lets examine some costs in detail.

 

I used to pay about £1200 a year in council tax back in the UK (including the discount for living alone) which is more than half of the cost of this membership. Needless to say this is just one of the many overpriced things I've cancelled and no longer have to pay now I live in Thailand.

 

I'm sure my council tax (property tax for the Americans amongst us), insane water and electricity pricing, tv license, overpriced fuel, overpriced car insurance cost savings, etc all add up to way more than the cost of this visa.
 

In fact I just worked out that a smoker could finance this visa based merely on the difference in the cost of a daily packet of cigarettes between the two countries and still have 31,000 Baht left over.

 

Assuming 1 box of 20 cigarettes per day, every day for a year

365 x 90 Baht (Marlboro) in Thailand = 32,850 Baht per year
365 x 450 Baht (Marlboro) in the UK  = 164,250 Baht per year

 

So you could still smoke 20 cigarettes every day if you wanted to but will save 131,400 Baht per year just by being in Thailand as opposed to the UK.

Last year I cut right down on my smoking and I generally use an electronic cigarette these days which is even cheaper than the Thai cigarettes.
 

The above is just one of many examples but a valid one.

[paz]

Saving money is always a great idea.

I don't think there is anything wrong with showing an example of what the Thai Elite card money can buy instead

 

With road tax, full insurance, servicing and gas for 5 years.

 

That in exchange for "saving hassle". I know what I'd get, but that's just me.

 

 

[NewDirection]

First off, let me say a BIG thanks to everyone for their posts!  I appreciate the time and advice.  A couple of points of clarification and a couple of follow-on questions:

 

Clarifications:

 

1) My monthly "income" is derived from well invested, well diversified conservative investments which increase relative to the US Consumer Price Index.  Therefore, it will generate an inflation protected stream of income for life.  It should keep pace with US inflation as indexed by the Commerce Department, but could conceivably lag in keeping pace with inflation rates as historically seen in SE Asia.  That is a risk.  The question of exchange rates is more difficult to predict, but a good point by those who brought it up.

 

2) Regardless of the above, I would hope that 100K TB monthly would do the trick.  I would point out again that I would not desire to live in metro BKK and am a modest person (by moral upbringing and by religious belief)

 

3)  I think the idea (as suggested by many, many posters) of first obtaining a double entry tourist visa is a good one.  This seems to have no downside and only upside.

 

Questions:

 

1) Assuming (after that additional trial period) that I continue to desire to live in Thailand, would obtaining the Elite card meet that purpose.  There seems to be some discussion in related forums that the Elite card is intended for the "frequent business traveler" and not as a backdoor mechanism of living in the country.  What are individuals' opinions on this?

 

2) Some posters have raised the possibility of living in Thailand for only 6 months a year.  This is an interesting proposition.  In reality, even with a “right to stay" in country year round, I would probably only spend about 9-10 months there each year anyway.  (i.e. regardless of the visa situation, I would return to the US to visit my (relatively) elderly parents for several consecutive months each and every year.).  If I were to decide 6 months each year in Thailand was enough, can this be done on an ongoing basis, year after year with a freshly obtained double entry tourist visa?  Is there not a turning away of those who apply each and every year for a single double entry?

 

3) Very few of the posts addressed my question regarding work as a part time English teacher. This was curious. Hear me out on this...  I understand that this may not be a desirable way to make a full time living, but for the part time teacher, why not?  What would be the harm in teaching 10 or 15 hours a week in exchange for a Non-Immigrant B and work permit.  If this just isn't a reality in that you can’t find employers willing to facilitate it, then that’s one thing.  But, on the merits, it seems like it might provide some mental engagement, cultural learning (good and bad), and keep one engaged in a bit of a routine. If it were to come with an easy Non-Immigrant B and work permit, all the better?

 

Thanks again in advance for everyone’s comments!!

  

[JLCrab]

Given OP's experience and background why would he not try to contact a company like this and see if they will take him on as an employee/consultant?

 

http://www.intertek.com/expert-services/packaging-consulting/

 

http://www.intertek.com/contact/asiapacific/thailand/

Edited August 2, 2014 by JLCrab

[bitcoinman]

I am in thailand since 2008, double entry tourist visa, go back Europe for 8 to 9 months a year . So far no problem.

Got visas In europe, sometime I come to thailand on a 30 days visa waiver then go to Lao for visa.

I like to go out a country. Staying 12 months a year, no thank you! Summer is so nice in Europe. Edited August 5, 2014 by bitcoinman