Retiring with 16mn Baht

[chiang mai]

Posters who are advising against buying property in Thailand because of the risks are really, in many cases, saying something completely different. What's being said is, my life style doesn't lend itself to having a long term fixed abode where ex-girl friends can come and find me and/or I can't leave the country in a hurry should I need to. This business of political risk and economic instability is simply a cover for their lifestyle behaviour, not to be taken too seriously methinks.

[Alive]

16mn baht is plenty but not if you get mixed up with women or other dependents in your life in Thailand. You need to be real careful here and there are many ways others can go after you wealth. Just have some sort of accident or cause one. Most people living in Thailand don't have that much wealth to retire on. My guess is your friend's simple life will not last long. Just look at home many events happen here to foreigners. It's easy to do something stupid here especially if you are here for a long time. Many people see their wealth dry up pretty quickly.

[dick dasterdly]

14 minutes ago, GarryP said:

Not PR, but the next step up. Second hand houses can turn a nice profit here in BKK and the suburbs. The house I bought in Bangkok five years ago has already increased in value by approximately 30 percent (based on second hand sales prices in the same estate in 2016). However, if I were to build a 3 million house out in the sticks it is exceedingly unlikely that I could recoup my investment, whereas perhaps with something for about 500k or 1 million I would have a better chance. So location is definitely an issue. You would need to buy in an area where there is demand and the local population has the necessary buying power. 

You may well be right about Bangkok, but those houses in Phuket that are not the v best (i.e. on the beach) can only expect to lose money if they try to sell.

[Scotwight]

1 hour ago, chiang mai said:

Posters who are advising against buying property in Thailand because of the risks are really, in many cases, saying something completely different. What's being said is, my life style doesn't lend itself to having a long term fixed abode where ex-girl friends can come and find me and/or I can't leave the country in a hurry should I need to. This business of political risk and economic instability is simply a cover for their lifestyle behaviour, not to be taken too seriously methinks.

That shore is not me.  If you can buy property in Thailand go ahead and do it.  However Farang who think they can buy property in Thailand methinks should not be taken too seriously.

[Johnniey]

3 minutes ago, Scotwight said:

That shore is not me.  If you can buy property in Thailand go ahead and do it.  However Farang who think they can buy property in Thailand methinks should not be taken too seriously.

GaryP has already told you he has. Why do so many think that farang can't get Thai citizenship?

[chiang mai]

3 minutes ago, Scotwight said:

That shore is not me.  If you can buy property in Thailand go ahead and do it.  However Farang who think they can buy property in Thailand methinks should not be taken too seriously.

 

I'm shore that's true but life's a beach sometimes!

[Scotwight]

1 minute ago, Johnniey said:

GaryP has already told you he has. Why do so many think that farang can't get Thai citizenship?

Too small a demographic to be considered during a discussion of the topic unless specified.  I don't think the topic included getting Thai citizenship.  

[Scotwight]

2 minutes ago, chiang mai said:

 

I'm shore that's true but life's a beach sometimes!

Shore was a representation of an American dialect.  Sorry you missed it.  

[chiang mai]

22 minutes ago, Johnniey said:

GaryP has already told you he has. Why do so many think that farang can't get Thai citizenship?

 

I believe a foreigner can achieve residency but I don't believe they can achieve citizenship, they are two very different things.

 

http://www.alllaw.com/articles/nolo/us-immigration/permanent-resident-vs-citizen-difference.html

Edited August 19, 2016 by chiang mai

[Johnniey]

Just now, Scotwight said:

Too small a demographic to be considered during a discussion of the topic unless specified.  I don't think the topic included getting Thai citizenship.  

 

2 minutes ago, Scotwight said:

Too small a demographic to be considered during a discussion of the topic unless specified.  I don't think the topic included getting Thai citizenship.  

The topic never included talking about ex-Thai gfs. Yet you make a stupid statement as if it is normal to have ex-gfs trying to find you. Do you live in Pattaya?

[Scotwight]

1 minute ago, Johnniey said:

 

The topic never included talking about ex-Thai gfs. Yet you make a stupid statement as if it is normal to have ex-gfs trying to find you. Do you live in Pattaya?

One tenth of one percent of Farangs living in Thailand have citizenship.  I'd say 30 or 40% (based on my experience) have ex girlfriends and most come from Bangkok.  I've lived in Chiang Mai and Bangkok  and many other places in Thailand.  Wrong a Thai women (real or imagined) and they don't have the same constraints as the West in hunting you down and doing you harm.  This has happened to me a number of times and I think it is normal.  

[Scotwight]

9 minutes ago, chiang mai said:

 

A foreigner can achieve residency but they can never achieve citizenship, they are two very different things.

 

http://www.alllaw.com/articles/nolo/us-immigration/permanent-resident-vs-citizen-difference.html

I don't know anything about it but the article you posted is about the USA not Thailand.  What percent of Farang in Thailand get Thai citizenship and can legally buy land?  

[chiang mai]

4 minutes ago, Scotwight said:

I don't know anything about it but the article you posted is about the USA not Thailand.  What percent of Farang in Thailand get Thai citizenship and can legally buy land?  

 

It's about the words not the country used to demonstrate their use.

 

And the answer to your question of how many foreigners get Thai passports, very very few, under 100 I believe. But all of those that do can buy land.

Edited August 19, 2016 by chiang mai

[GarryP]

11 minutes ago, Scotwight said:

Too small a demographic to be considered during a discussion of the topic unless specified.  I don't think the topic included getting Thai citizenship.  

 

9 minutes ago, chiang mai said:

 

A foreigner can achieve residency but they can never achieve citizenship, they are two very different things.

 

http://www.alllaw.com/articles/nolo/us-immigration/permanent-resident-vs-citizen-difference.html

 

Sorry, but I too will have to retire at some time. Am I now excluded because I have citizenship? Seems a bit petty to me. I have the same concerns as everyone else about saving for retirement but do not have the comfort/luxury of drawing a social security pension which most posters have. My survival depends very much on how I save for the future. One of the reasons I have been following this thread.

 

As to "Chiang mai", you do not know what you are talking about. There are several TV posters who have gained Thai citizenship.

[dick dasterdly]

34 minutes ago, Johnniey said:

GaryP has already told you he has. Why do so many think that farang can't get Thai citizenship?

And this is where we part company....

 

You honestly think Westerners find it easy to get Thai citizenship?

 

It explains a lot....

[chiang mai]

6 minutes ago, GarryP said:

 

 

Sorry, but I too will have to retire at some time. Am I now excluded because I have citizenship? Seems a bit petty to me. I have the same concerns as everyone else about saving for retirement but do not have the comfort/luxury of drawing a social security pension which most posters have. My survival depends very much on how I save for the future. One of the reasons I have been following this thread.

 

As to "Chiang mai", you do not know what you are talking about. There are several TV posters who have gained Thai citizenship.

 

I am aware of some of those posters having gained Thai passports but I'm not certain that makes them a Thai citizen, or does it? On the obverse it is not possible for a foriegner to obtain residency in Thailand unless they also qualify for a Thai passport. This contrasts with western countries such as the UK na dUS where residency comes in the form of a green card or the permanent right to remain, both without becoming a citizen.

[dick dasterdly]

Back on topic - the person in question can live here quite happily with a 16m bht lump sum.  Depending of course on various things:-

 

How long will they live?  More than 16 or so years?

 

Does money burn a hole in their pocket?

 

Do they  have a pension payable in a few years?

 

etc. etc.

[GarryP]

49 minutes ago, chiang mai said:

 

I am aware of some of those posters having gained Thai passports but I'm not certain that makes them a Thai citizen, or does it? On the obverse it is not possible for a foriegner to obtain residency in Thailand unless they also qualify for a Thai passport. This contrasts with western countries such as the UK na dUS where residency comes in the form of a green card or the permanent right to remain, both without becoming a citizen.

A foreigner can obtain residency, but that does not entitle him/her to a Thai passport. The only way to qualify for a Thai passport to is to get Thai citizenship. You need a Thai ID card before you can get the passport. 

 

Anyway, enough of this. We should get back to how much is needed to retire and whether 16m is enough. 

[Naam]

9 hours ago, Scotwight said:

Because you can't legally own land here (I know some people are special ). Because your neighbors might turn funny and necessitate a move.  There is no zoning and someone may open up a pig farm next to your house.  Immigration might get strange and moving to a rational place might make sense.  Your old girlfriend might find you (not a problem for those odd fellows without old Thai girlfriends - but for us normal guys it is a concern.  Another crackdown on companies that own houses in contravention of the law. You want more?

 

more of the same irrelevant bla-bla that i hear since 20 years? no thank you.

[Scotwight]

11 minutes ago, Naam said:

 

more of the same irrelevant bla-bla that i hear since 20 years? no thank you.

You can't legally buy land.  That is the bottom line and it's not irrelevant.  I have heard a lot of smart (in own mind) guys say otherwise but mostly they have been proved wrong.  You can try and get around the rules but the incontrovertible relevant truth is, "A Farang Can't Own Land In Thailand."  

[Scotwight]

29 minutes ago, GarryP said:

A foreigner can obtain residency, but that does not entitle him/her to a Thai passport. The only way to qualify for a Thai passport to is to get Thai citizenship. You need a Thai ID card before you can get the passport. 

 

Anyway, enough of this. We should get back to how much is needed to retire and whether 16m is enough. 

I think the point is that some real estate salesmen were advising the guy to buy a house or condo and other saner folks were telling him to conserve his capital and rent.

[Paul Catton]

<deleted>,  OP was asking on behalf of a third party, could 16,000,000 baht be enough of a nest egg for consideration to retire in Thailand.

Without further data about the friend of the OP, simple answer is yes, would he enjoy his retirement, who knows,

All boils down to the individual and their expectations.

[Johnniey]

1 hour ago, dick dasterdly said:

And this is where we part company....

 

You honestly think Westerners find it easy to get Thai citizenship?

 

It explains a lot....

Compared to any other country, yes, it is easy, especially if married to a Thai, then it's a very straightforward process.

[Johnniey]

20 minutes ago, Scotwight said:

You can't legally buy land.  That is the bottom line and it's not irrelevant.  I have heard a lot of smart (in own mind) guys say otherwise but mostly they have been proved wrong.  You can try and get around the rules but the incontrovertible relevant truth is, "A Farang Can't Own Land In Thailand."  

Wrong, you really don't know what you're talking about.

[Scotwight]

7 minutes ago, Johnniey said:

Wrong, you really don't know what you're talking about.

There is no legal way for a Farang to buy land in Thailand.  If you know of a way feel free to post it.  It not you know what they say about bswalking. The OP asked for advice concerning retirement with limited funds and the last thing he needs is to be advised to enter into an illegal act that will deplete his funds.

Edited August 19, 2016 by Scotwight
edification

[Johnniey]

1 minute ago, Scotwight said:

There is no legal way for a Farang to buy land in Thailand.  If you know of a way feel free to post it.  It not you know what they say about bswalking.

My God.  They are slow today.

[Naam]

28 minutes ago, Scotwight said:

You can't legally buy land.  That is the bottom line and it's not irrelevant.  I have heard a lot of smart (in own mind) guys say otherwise but mostly they have been proved wrong.  You can try and get around the rules but the incontrovertible relevant truth is, "A Farang Can't Own Land In Thailand."  

 

you can own a home on legally acquired land in Thailand and use this land as you please albeit presently limited to a period of 30 years. nobody owns land for an unlimited time span anywhere on this planet. ownership stops when the "owner" is carried to the graveyard or crematorium. to avoid the often quoted pig farms, unsavoury neighbours, noisy bars, motorcycle repairshops et al is only a matter of logistics and of course relevant financial means.

[chiang mai]

10 minutes ago, Scotwight said:

There is no legal way for a Farang to buy land in Thailand.  If you know of a way feel free to post it.  It not you know what they say about bswalking. The OP asked for advice concerning retirement with limited funds and the last thing he needs is to be advised to enter into an illegal act that will deplete his funds.

 

True the foreigner cannot buy the land and own it outright but they can lease it and/or take out an usufruct on it, the latter giving them complete control of the land including the ability to sell a thirty year lease on it to a third party. To all intents and purposes those things have 99% of all the rights of ownership, including the ability to recoup the purchase costs via sale of a lease.

[Johnniey]

4 hours ago, GarryP said:

Not PR, but the next step up. Second hand houses can turn a nice profit here in BKK and the suburbs. The house I bought in Bangkok five years ago has already increased in value by approximately 30 percent (based on second hand sales prices in the same estate in 2016). However, if I were to build a 3 million house out in the sticks it is exceedingly unlikely that I could recoup my investment, whereas perhaps with something for about 500k or 1 million I would have a better chance. So location is definitely an issue. You would need to buy in an area where there is demand and the local population has the necessary buying power. 

Gary, there are those telling you that you can't buy a house or land,  Maybe you're not a farang.

[Scotwight]

15 minutes ago, Johnniey said:

My God.  They are slow today.

Looking at the past few posts about renting land and building a house on it, it strikes me that you are confused. Leasing land is not owning land.  Perhaps you are having a slow day.