Proof from what you live as a retiree

[moogradod]

Thanks for the info but what is then a more clever way of proceeding with the cash in order to get a reasonable return (is 2% exorbitant ?) with a still somewhat safe investment ?

[11223344]

12 minutes ago, moogradod said:

Thanks for the info but what is then a more clever way of proceeding with the cash in order to get a reasonable return (is 2% exorbitant ?) with a still somewhat safe investment ?

Long term, the share market in the US average 9% ... no work involved, liquid... obviously now it is in a peak, so I would just /very/slowly average down

 

Or get a commercial property in Europe - long leases (5+ years), maintenance done by the lessee = not much hassle. And you can easily find 5+ %

 

But an average Thai doesn't have much options due to capital outflow restrictions by the dear leaders.

[gk10002000]

On 7/21/2017 at 6:55 AM, roobaa01 said:

@moogradod

 

exention of stay based on reitirement

 

you have 1 fixed interest account in your name with 800 k to satisfy immigration.

you have a simple savings passbook in your name, ,which receives monthly proceeds.this is to satisfy immigration if they want to check on what u live.

 

extension of stay based on marriage to a thai

 

same as above but only 400 k requested by immigration.

 

im 62 have done the same as you but with 400 k, as well as we share the same nationalty.

 

wbr

roobaa01

I think the OP is asking about if it ok for his money is in an account that is in his Wife's name, and it will not be in his name if he goes the 800k or 400k baht on deposit route. 

[Momofarang]

On 7/21/2017 at 4:27 PM, moogradod said:

 

 

On 7/21/2017 at 4:27 PM, moogradod said:

 

Actually I do not want to posess any assets. There are inheritance reasons involved. But my wife and me do have sufficient funds to live well and safe in Thailand until we die.

Regarding inheritance Thai law will apply to all assets based in Thailand. I am no expert but your will could not by challenged, if you decided to leave out someone. 

[Momofarang]

15 hours ago, moogradod said:

I suppose this is unfortunately a valid point. But what would a Thai citizen do with 1Mio US$ in the pocket returning home from abroad ? What is the Thai middle class really doing aginst this uncertainty ? Or does it not apply to them ? If it doesnst it would not apply to me (my wife) either. Spreading over many accounts helps a little bit. But I doubt many have accounts in Singapore - banks all over LOS could close.

 

Main question: What does the Thai Middle Class do with their savings.

The Thai middle class, when they have that sort of money, will invest it in Switzerland. 

 

And yes, as far as I am concerned, after two years here, watching the country becoming a clone of Burma of 20 years ago, and running to immigration more often than to the dunny, I don't think any of us is safe here.

Whatever you do just make sure you can run away, if you got kids plan for their education somewhere overseas.

Edited July 23, 2017 by Momofarang

[meatboy]

On 21/7/2560 at 3:47 PM, moogradod said:

Thanks ubonjoe.

 

Sorry, my question was obviously misleading. I mean if Immigration might ask me from what I live day to day, pay the rent, insurance, food drink etc. - not the guarantee needed for extension. And yes TE means Thai Elite.

 

as its been already pionted out you need the extension sum in your acc.i have mine in a fixed deposit acc.but sometimes immigration will ask what are you living on,so i always take along our current acc.book that we use for living exs.which shows regular withdrawals this is always excepted.the proof being the exs.we spend yearly comes from my and my wifes pensions.

[maewang99]

yeah, don't make the mistake I did and put it in a joint account with your Thai wife.

go ahead, have a few laughs on me.... :-)

even for a marriage visa.

for several reasons... not just immigration ones. 

for those still excited about the 20,000 THB thing for tourists who are not tourists....  when I got here it was 200,000 THB for a marriage visa, but I was a little lazy and missed the grandfather date by a few days [they changed the rules/law just as I arrived here on retirement]... I just didn't know.. should have read Thai VIsa.com but hadn't.... didn't even know about the 90 day police report and when I did I and my wife thought it didn't apply to ****us****!!!!

anyways... so instead of having to show 200,000 THB in a bank account... I had to have (or had until very recently) 1.6 million Thai Baht stuck in two bank accounts... anyone who has been here for more than 2 months can easily fill in the blank on how that happened to me... with 800K stuck forever basically. 

but now I get enough pension income I only have 800K stuck in a retail bank... and can keep the rest in the Thai stock market which still pays beau coup dividends and a 7/3 Thai tax refund to boot.

 

no, I can't get the 800k back. two signatures needed? yes?

 



 

Edited July 24, 2017 by maewang99

[moogradod]

On 24.7.2017 at 1:42 AM, Momofarang said:

The Thai middle class, when they have that sort of money, will invest it in Switzerland. 

 

And yes, as far as I am concerned, after two years here, watching the country becoming a clone of Burma of 20 years ago, and running to immigration more often than to the dunny, I don't think any of us is safe here.

Whatever you do just make sure you can run away, if you got kids plan for their education somewhere overseas.

No invest in CH for me or my wife - I want the money to fall under the Thai Will I will conclude. That is 80% of why we move there.

 

However your statement of "I don't think any of us is safe here" is a real concern. But I have no option, and if I cannot run away, then at least I have given all I have to my wife - which I can only do if we move. I am saying that because my life expectation is very most probably quite limited.

Edited July 25, 2017 by moogradod

[retiredusn]

You may want too think about one account in your name only while in Thailand

[ubonjoe]

A off topic post with political comment has been removed.