British expats in Thailand feeling the misery as the UK pound drops to record low levels.

[jeab1980]

15 minutes ago, Airbagwill said:

There have always been prophets of doom and drops in exchange rates etc etc......but I think the difference for UK now is Brexit. It will permanently devalue the UK in every respect....value of the pound, value of pensions, values of property, and unlike previous hiccoughs, this is a permanent long term possibility.

many people have already had 20% or more slashed off their wealth.

Of course some expats will tell us that their pensions and savings aren't in the UK and immune, but this will be a minority.

 

In the end I don't see a sudden exodus...it will take time first for the situation to harden and then for the harsh reality to sink in, many may try to hobble along until they die, uninsured in a government hospital, but many will see that Thailand is no longer the cheap retirement option it was 10 years ago and will have to pack up and leave. The new huge industrial expansion in Chonburi and Rayong will undoubtedly raise property prices, rents and CoL and ths rest of the country will follow.

Sadly of course they won't have any choice of where to go....until Brexit there was the possibility of settling in some of the warmer areas of the EU or in the new members with relatively cheap cost of living, but now that option will fly out of the window too.

 

..or like many people in the Uk, they will make use of dual citizenship and move to the other country they have citizenship of....apparently thousands are already renewing their Irish passports (in my case Italian or Australian)

 

...but if you are a Brit (especially an English one) I really  don't envy your prospects for the next 20 to 40 years or so.

 

 

 

 

20 to 40 years ? By then we will be rulling the world Again.

You started of saying there are gloom and doom phrophets i presume you must cast yourself in that corner fair and square.

Plan for the future i was always told.  I did i knew my future would not entail me living in the UK from about the age of 18. By thay age i had seen three quaters of the world how the other half live so to speak and it opened my eyes. So i planned for a future away from the UK. Where we (as i expected it to be but alas only Me) were going to land at the age of 55 (our worked out premium retirement time.) We hadnt decided. Malta came first for me for a few years. With the untimley passing of my wife it sortof threw me out of sync for a good few years so Malta was a god send.

I ended up here and have never regreted it.

I am not so woried about the £ i know it will return to 50bht or very close to this. But my pensions and savings are immune as they are in Gibralter. In for now US $. 

But i do feel for the brits here in the short term whilst things stabalize.

[SheungWan]

2 hours ago, chrisandsu said:

Very true and a lot a lot a lot of luck ! I bought my home I currently live in 8 years ago , the price has gone up $200 k in that time! I bought not out of a future investment plan but just a nice decent area that I could afford . I didn't see the boom that was coming, was all a bit of a fluke if I'm honest ? It may come down in that time But will

never fall to the price I paid for it so I will never lose . Problem is I can't sell the property unless I moved to a much cheaper place (like thailand ) as the whole area has shot up massively in price so all steps will be sideways if I bought another house . 

Unless you at some point either downsize or rent out or move, the nominal value of your primary home is of no real significance to you other than the size of your estate for inheritance when you die.

[Airbagwill]

The size of this thread shows there is considerable interest in this topic. 

An isolated UK - or rather England and Wales will not have the capital to maintain a high value pound, all Brits abroad are going to find things more expensive for years  or even decades to come.

 

In places like Thailand the differential will also shrink due to Thailand's expanding economy and rising costs of living.

 

what I think the UK hasn't factored in yet is te cost of pensioners returning from overseas - they are all aound the world - all these people are in the categories most likely to need the NHS, housing and make other welfare demands on what will be an impoverished system as well.

 

even the "smart alecs" who think they have managed to escape the Uk completely may well find they have to return as UK loses staus around the world in terms of long term visas and general international goodwill.

 

Post Brexit Britain will have a totally different (smaller) standing in the world and expats will feel some of this without a doubt. In fact those in business already feel it.

 

[bert bloggs]

14 hours ago, Airbagwill said:

There have always been prophets of doom and drops in exchange rates etc etc......but I think the difference for UK now is Brexit. It will permanently devalue the UK in every respect....value of the pound, value of pensions, values of property, and unlike previous hiccoughs, this is a permanent long term possibility.

many people have already had 20% or more slashed off their wealth.

Of course some expats will tell us that their pensions and savings aren't in the UK and immune, but this will be a minority.

 

In the end I don't see a sudden exodus...it will take time first for the situation to harden and then for the harsh reality to sink in, many may try to hobble along until they die, uninsured in a government hospital, but many will see that Thailand is no longer the cheap retirement option it was 10 years ago and will have to pack up and leave. The new huge industrial expansion in Chonburi and Rayong will undoubtedly raise property prices, rents and CoL and ths rest of the country will follow.

Sadly of course they won't have any choice of where to go....until Brexit there was the possibility of settling in some of the warmer areas of the EU or in the new members with relatively cheap cost of living, but now that option will fly out of the window too.

 

..or like many people in the Uk, they will make use of dual citizenship and move to the other country they have citizenship of....apparently thousands are already renewing their Irish passports (in my case Italian or Australian)

 

...but if you are a Brit (especially an English one) I really  don't envy your prospects for the next 20 to 40 years or so.

 

 

 

 

 

As prophets of doom and gloom go ,well you are right up there at the top of the pile , but so wrong , its only going to get better ,now once we have the freedom to run our own country once again ,without the E.U unelected clowns at the top telling us what they want us to do .

[Airbagwill]

13 hours ago, jeab1980 said:

20 to 40 years ? By then we will be rulling the world Again.

You started of saying there are gloom and doom phrophets i presume you must cast yourself in that corner fair and square.

Plan for the future i was always told.  I did i knew my future would not entail me living in the UK from about the age of 18. By thay age i had seen three quaters of the world how the other half live so to speak and it opened my eyes. So i planned for a future away from the UK. Where we (as i expected it to be but alas only Me) were going to land at the age of 55 (our worked out premium retirement time.) We hadnt decided. Malta came first for me for a few years. With the untimley passing of my wife it sortof threw me out of sync for a good few years so Malta was a god send.

I ended up here and have never regreted it.

I am not so woried about the £ i know it will return to 50bht or very close to this. But my pensions and savings are immune as they are in Gibralter. In for now US $. 

But i do feel for the brits here in the short term whilst things stabalize.

 

"Of course some expats will tell us that their pensions and savings aren't in the UK and immune, but this will be a minority." - QED

[Airbagwill]

1 hour ago, bert bloggs said:

 

As prophets of doom and gloom go ,well you are right up there at the top of the pile , but so wrong , its only going to get better ,now once we have the freedom to run our own country once again ,without the E.U unelected clowns at the top telling us what they want us to do .

as your premise is incorrect, it is very unlikely you forecast is going to be right either.

[jeab1980]

1 hour ago, Airbagwill said:

 

"Of course some expats will tell us that their pensions and savings aren't in the UK and immune, but this will be a minority." - QED

QED a good many i expect. Its called planing

[SheungWan]

2 hours ago, Airbagwill said:

 

"Of course some expats will tell us that their pensions and savings aren't in the UK and immune, but this will be a minority." - QED

 

The currency of one's work pension is a given so not much can be done about that. Savings and investments in the years leading up to retirement are the variable. It is quite typical for someone to visit Thailand for the first time in their 50s and then make plans for either retiring to or semi-retiring to Thailand. For the subsequent 10 years or so, their plans are at risk from currency exposure. My own opinion is that there are sufficient risks to the downside to at least consider options.

Edited October 1, 2017 by SheungWan

[Airbagwill]

1 hour ago, jeab1980 said:

QED a good many i expect. Its called planing

are you sure?

[adammike]

3 hours ago, bert bloggs said:

 

As prophets of doom and gloom go ,well you are right up there at the top of the pile , but so wrong , its only going to get better ,now once we have the freedom to run our own country once again ,without the E.U unelected clowns at the top telling us what they want us to do .

Our clowns are better than your clowns nah nah nah.

[jeab1980]

52 minutes ago, Airbagwill said:

are you sure?

Can never be surer but i cant belive i was the only one pretty sure there are loads of them.

[bomber]

8 hours ago, bert bloggs said:

 

As prophets of doom and gloom go ,well you are right up there at the top of the pile , but so wrong , its only going to get better ,now once we have the freedom to run our own country once again ,without the E.U unelected clowns at the top telling us what they want us to do .

As a brit I would rather have the UK run on germam ethics than the british give the scrounger what he wants,and the british borrow borrow mentality.

[hangdonger]

Given i derive most of my income from Baht and other currencies the slide of the pound is ok, as i have more spending power when i go back to the UK on holiday

[cyberfarang]

14 hours ago, Airbagwill said:

The size of this thread shows there is considerable interest in this topic. 

An isolated UK - or rather England and Wales will not have the capital to maintain a high value pound, all Brits abroad are going to find things more expensive for years  or even decades to come.

 

In places like Thailand the differential will also shrink due to Thailand's expanding economy and rising costs of living.

 

what I think the UK hasn't factored in yet is te cost of pensioners returning from overseas - they are all aound the world - all these people are in the categories most likely to need the NHS, housing and make other welfare demands on what will be an impoverished system as well.

 

even the "smart alecs" who think they have managed to escape the Uk completely may well find they have to return as UK loses staus around the world in terms of long term visas and general international goodwill.

 

Post Brexit Britain will have a totally different (smaller) standing in the world and expats will feel some of this without a doubt. In fact those in business already feel it.

 

I agree with your post to a point. There are Brits scattered all over the world. Due to Britain`s open door immigration policies that became more intense during the 1970s, many native Brits began leaving the country in their droves that became known as the white flight. Also with the decline of the educational and National Health service when these days people have to be virtually at death`s door before they`ll admit them to a hospital for treatment, including expensive housing and literally having to work well past retirement age just to pay their way, many Brits believed they could fair better living abroad, including Thailand.

 

Many planned well including myself, but also many emigrated on impulse on what they could afford at the time without taking into account their longer term futures. It is those people who will feel the pinch now and maybe will have to return to their mundane lives in the UK or to countries where the cost of living is cheaper than Thailand.

 

Personally I believe the situation will improve as Brexit sorts it`s self out, but it`s not going to happen anytime soon.

[jeab1980]

20 hours ago, Airbagwill said:

The size of this thread shows there is considerable interest in this topic. 

An isolated UK - or rather England and Wales will not have the capital to maintain a high value pound, all Brits abroad are going to find things more expensive for years  or even decades to come.

 

In places like Thailand the differential will also shrink due to Thailand's expanding economy and rising costs of living.

 

what I think the UK hasn't factored in yet is te cost of pensioners returning from overseas - they are all aound the world - all these people are in the categories most likely to need the NHS, housing and make other welfare demands on what will be an impoverished system as well.

 

even the "smart alecs" who think they have managed to escape the Uk completely may well find they have to return as UK loses staus around the world in terms of long term visas and general international goodwill.

 

Post Brexit Britain will have a totally different (smaller) standing in the world and expats will feel some of this without a doubt. In fact those in business already feel it.

 

Firstly can you explain - "An isolated UK - or rather England and Wales". Last time i looked or heard UK Thats United Kingdom comprised of NI/Wales/Scotland/England?.

The value of the pound will sink or swim with the economic growth or non growth, Trading freely with the rest of the world on the door step of  the EU is in my eyes the biggest plus we will have.

British abroad as i can testify to have found things more and more expensive abroad since the early 70's. It called 3 world countries growing up and establishing themselfs as a player in the world economy. No longer just a place for a cheap holiday or cheap living.

As im not an Expat in the true sense of the word rather an immigrant established in a diffrent country than my birth country. I have however always maintained a presence in said home country i have a rental property which i pay a megar tax on  i have a postal address registered there and regarding the NHS i paid full stamp for as long as I had to even though not living there. I am still registered with a quack over there whom i email every three months for a repeat perscription which is something and nothing but which keeps me on the radar there. I have not physicaly lived in the UK for some 30 years now. 

If someone has indeed severed all ties with the UK  and have been away for many a year then yes i agree they should pay for NHS treatment. The same as any immigrant has to nowadays.

So not so much Smart Alecs as dumb Alecs may be the better way round.

If Thailand decides they dont want us here i wont lose much sleep worrying or blustering. Just make a few plans close down life here and move on to another place. (With my family).

Of course the UK will have a diffrent feel after completing the move from Federal Europe. But a smaller standing in the world i venture to suggest in fact the opposite and will have a bigger and stronger standing in the world again.

Buisness is a fluid thing move with the times or stagnat. One door close another opens thats been the way of buisnesses since time began. No diffrent now if they have put all there eggs in one basket more fool them.

 

Edited October 2, 2017 by jeab1980

[MaeJoMTB]

10 hours ago, jeab1980 said:

As im not an Expat in the true sense of the word rather an immigrant established in a diffrent country than my birth country.

 

You have (or are in the process of obtaining) Thai nationality?

Because that's the definition of immigrant.

[cyberfarang]

1 hour ago, MaeJoMTB said:

 

You have (or are in the process of obtaining) Thai nationality?

Because that's the definition of immigrant.

If you are a Brit living in Thailand, according to the British government whether officially an immigrant in Thailand or not, doesn`t make the slightest difference. Still not entitled to any UK benefits including the NHS and State pensions frozen.

[Golden Triangle]

There are some knowledgeable posters on this thread and some absolute numpties, you choose your description, don't ask me to do it 

 

 Going back to the title of the thread which is: British expats in Thailand feeling the misery as the UK pound drops to record low levels. I moved here close to six years ago, before I made the move I did due diligence on my savings and investments including returns, I decided that my cut off point with regard to the exchange rate would be somewhere close to 40 to the GBP. It was looking a bit iffy a few months ago on that front, but actually as the years have progressed and my initial spending has decreased ( I needed to by things like table top ovens, microwaves, duvet sets and a whole host of other crap) so my monthly requirements have decreased, now I just pay the rent, water, electric, internet, cable etc etc so it has got easier, I have a new pension starting next year to add to the 2 that I currently have and an investment that has been paying out 200 GBP per month for the last 5 years will mature and I get my original investment back, so all in all I'm a pretty happy bunny. If the exchange rate stays as it is I can still afford to be here, obviously I would like for it to improve, and on that point.........  

 

I believe that an interest rate increase is on the cards for the middle of November, Far too many so called financial experts / pundits / professors have already said that an increase is well overdue, this maybe the first in a series of small increases spread over maybe 12 - 18 months which in turn will give welcome relief to a somewhat struggling Pound.

 

And finally, I have a son and a daughter, both in their forties now (I started early)  My daughter and SiL have finally managed to get on the housing ladder thanks to a Housing Association in the West Country, my son and his Thai wife are still renting in the SE of England after far too many years and paying through the nose for the pleasure, what I don't understand is why a bank or building society will not accept an affidavit from a land lord stating that Mr & Mrs X having been paying a rent of XX Pounds GBP for X amount of years in rent and can therefore afford a mortgage which is normally cheaper than renting. 

 

Thanks for listening, rant over  

[jeab1980]

4 hours ago, MaeJoMTB said:

 

You have (or are in the process of obtaining) Thai nationality?

Because that's the definition of immigrant.

I dont agree but if thats what you want ok im a long term visitor that better

[Jip99]

32 minutes ago, jeab1980 said:

I dont agree but if thats what you want ok im a long term visitor that better

 

 

I think that the terminology of the “Non-Immigrant” Visa, that most of us have extended the permission to stay on, suggests otherwise.

[Henryford]

12 hours ago, cyberfarang said:

If you are a Brit living in Thailand, according to the British government whether officially an immigrant in Thailand or not, doesn`t make the slightest difference. Still not entitled to any UK benefits including the NHS and State pensions frozen.

 

I knew the State pension was frozen if you lived outside the UK but are you sure NHS pensions are frozen as well? I have never heard that mentioned.

[emilymat]

Just now, Henryford said:

 

I knew the State pension was frozen if you lived outside the UK but are you sure NHS pensions are frozen as well? I have never heard that mentioned.

 

Same here. The government can 'freeze' the state pension as it is a social security payment, over which they have control. The NHS pension scheme is not, at least that's how I understand it.

[jeab1980]

Having been àdvised by two posters now that i am not a immigrate in Thailand as i will never seek PR or Citizenship. I decided to do a quick research into the word and meaning of Expat as before posters have said to be  a true Expat has to be working. Here is what i found.

what is an expat?"

The word expat is a contraction of expatriate, which derives from the Latin word expatriatus. In medieval times, an expatriatus was someone who had left his or her home country to live somewhere else. So in today’s culture an expatriate is exactly that; someone who lives in a different location than that which they were born and brought up. In general expatriates are considered to be people who are residing in their host country temporarily, with the ultimate intention of returning home at a later date. However, in recent times, more and more expatriates have left their home country and found that they can experience a higher standard of living and a better of quality of life abroad and, for this reason, many of them never return home.

 

So in light of this i will from now on and forever call myself an Expat.

[SheungWan]

1 hour ago, jeab1980 said:

Having been àdvised by two posters now that i am not a immigrate in Thailand as i will never seek PR or Citizenship. I decided to do a quick research into the word and meaning of Expat as before posters have said to be  a true Expat has to be working. Here is what i found.

what is an expat?"

The word expat is a contraction of expatriate, which derives from the Latin word expatriatus. In medieval times, an expatriatus was someone who had left his or her home country to live somewhere else. So in today’s culture an expatriate is exactly that; someone who lives in a different location than that which they were born and brought up. In general expatriates are considered to be people who are residing in their host country temporarily, with the ultimate intention of returning home at a later date. However, in recent times, more and more expatriates have left their home country and found that they can experience a higher standard of living and a better of quality of life abroad and, for this reason, many of them never return home.

 

So in light of this i will from now on and forever call myself an Expat.

Although expat has tended to mean someone living or working abroad, the term has drifted to include those who spend half or more of the year abroad. The cheaper cost of travel and more flexible life styles have facilitated this, so I wouldn't get hung up too much on definitions even if others might. Maybe I am a hybrid expat. Friends of mine who have burned all their boats are I guess the genuine article, but we all have to consider currency issue as it impacts on our lives, some more than others.

[jeab1980]

15 minutes ago, SheungWan said:

Although expat has tended to mean someone living or working abroad, the term has drifted to include those who spend half or more of the year abroad. The cheaper cost of travel and more flexible life styles have facilitated this, so I wouldn't get hung up too much on definitions even if others might. Maybe I am a hybrid expat. Friends of mine who have burned all their boats are I guess the genuine article, but we all have to consider currency issue as it impacts on our lives, some more than others.

Im not hung up at all others who constantly say you not a ### or a ### you are a ### are the hung up ones.

I couldnt find anywhere on the "all seeing god that is Google search" (according to some) that states an Expat is a worker in host country only.

But not to worry. I guess im a swing both ways type of Expat can easily and hope to stay here till im dust, but can in the blink of an eye rwturn with no loss of any benifits back in UK.

I would actually lose in the long run by moving back as the suder dooper UK goverment would no doubt want some of my hard earned pennsion for the Tax man. Thats something i will have to look closer at come to think of it as its off shore i wonder how that works if i was to move back.

[Airbagwill]

On 10/2/2017 at 8:27 AM, jeab1980 said:

Firstly can you explain - "An isolated UK - or rather England and Wales". Last time i looked or heard UK Thats United Kingdom comprised of NI/Wales/Scotland/England?.

The value of the pound will sink or swim with the economic growth or non growth, Trading freely with the rest of the world on the door step of  the EU is in my eyes the biggest plus we will have.

British abroad as i can testify to have found things more and more expensive abroad since the early 70's. It called 3 world countries growing up and establishing themselfs as a player in the world economy. No longer just a place for a cheap holiday or cheap living.

As im not an Expat in the true sense of the word rather an immigrant established in a diffrent country than my birth country. I have however always maintained a presence in said home country i have a rental property which i pay a megar tax on  i have a postal address registered there and regarding the NHS i paid full stamp for as long as I had to even though not living there. I am still registered with a quack over there whom i email every three months for a repeat perscription which is something and nothing but which keeps me on the radar there. I have not physicaly lived in the UK for some 30 years now. 

If someone has indeed severed all ties with the UK  and have been away for many a year then yes i agree they should pay for NHS treatment. The same as any immigrant has to nowadays.

So not so much Smart Alecs as dumb Alecs may be the better way round.

If Thailand decides they dont want us here i wont lose much sleep worrying or blustering. Just make a few plans close down life here and move on to another place. (With my family).

Of course the UK will have a diffrent feel after completing the move from Federal Europe. But a smaller standing in the world i venture to suggest in fact the opposite and will have a bigger and stronger standing in the world again.

Buisness is a fluid thing move with the times or stagnat. One door close another opens thats been the way of buisnesses since time began. No diffrent now if they have put all there eggs in one basket more fool them.

 

I'd say this reply is absolute classic - just about every single premise is either oxymoronic or just plain wrong.

[jeab1980]

10 minutes ago, Airbagwill said:

I'd say this reply is absolute classic - just about every single premise is either oxymoronic or just plain wrong.

So you cant explain then . Got to love people who make a statement and when questioned on statement resort to the normal moronic standard answer. Ie your wrong im right absolute classic well done Air will.

Edited October 3, 2017 by jeab1980

[emilymat]

2 hours ago, jeab1980 said:

Having been àdvised by two posters now that i am not a immigrate in Thailand as i will never seek PR or Citizenship. I decided to do a quick research into the word and meaning of Expat as before posters have said to be  a true Expat has to be working. Here is what i found.

what is an expat?"

The word expat is a contraction of expatriate, which derives from the Latin word expatriatus. In medieval times, an expatriatus was someone who had left his or her home country to live somewhere else. So in today’s culture an expatriate is exactly that; someone who lives in a different location than that which they were born and brought up. In general expatriates are considered to be people who are residing in their host country temporarily, with the ultimate intention of returning home at a later date. However, in recent times, more and more expatriates have left their home country and found that they can experience a higher standard of living and a better of quality of life abroad and, for this reason, many of them never return home.

 

So in light of this i will from now on and forever call myself an Expat.

You (and I) are  aliens. I once told a mate this and he got very angry and said he was an ex-pat and alien was someone from another planet.

[billd766]

1 hour ago, emilymat said:

You (and I) are  aliens. I once told a mate this and he got very angry and said he was an ex-pat and alien was someone from another planet.

 

Cahnge the lyrics from New York to Bangkok and there you have it.

 

https://www.youtube.com/watch?v=flWP28y2cyw

 

[jeab1980]

1 hour ago, emilymat said:

You (and I) are  aliens. I once told a mate this and he got very angry and said he was an ex-pat and alien was someone from another planet.

"Different countries use varying terms for "aliens" including: an illegal immigrant, illegalalien or undocumented alien is person who is residing on a non-temporary basis in acountry where s/he has no legal right to reside. ... a legal alien is a non-citizen who is legally permitted to remain in a country."

So as the song goes im a legal alien