Why cant I live in Thailand?

[Faz]

On 3/26/2022 at 9:29 AM, Faz said:

That still wouldn't meet the 65,000 BHT requirement without a secondary top up pension.

4 hours ago, LoongFred said:

It

Is this word association or did you watch the movie as well.

[Faz]

4 hours ago, LoongFred said:

What I like because I used IDD (direct deposit), I can use it for my financial proof to  extend my visa. 

You can't extend a Visa Fred, that's misleading. How long have you lived here?

[Thaidup]

Ok, the one thing most can't get past is the 800,000, thinking that it may be "lost in a Thai bank" or whatever, Now that 800,000 is worth $24000 USD, or 18,000 GBP or 32,000 Aus dollar, Now, if you in your retirement age, after 40 years of working cannot save that money, What makes you think that you can make it in a different country? Is it not common sense?

[Thaidup]

On 3/25/2022 at 8:35 PM, Paddymeboy7 said:

Heres the thing......I wish to live in Thailand.....I have a fixed income (retired)......State pension....small private pension.....I could easily live on them without draining the Thai public purse....I have insurance policy to cover hospital Bills if needed......I would be contributing to the Thai economy.....Just saying.

I do like the way that you get your message across. Just 1 post, no comment reply's, I was snipped at once before for suggesting a thread may be a troll, But this one I think is worthy of going on. A lot of people may be pondering the same question.

[ace035]

On 3/26/2022 at 3:25 AM, cockneyboy said:

is combination still allowed.

Absolutely, which means B65K times 12 is equal to B780K. So, you only need B20K to open a bank account in Thailand, so it can total to B800K. I wouldn't rely on that, not if you any other bills to pay in your home country.

[LoongFred]

7 hours ago, Thaidup said:

I think the arrogance comes from some westerners thinking that the Thai baht is as what it was back in 1990's. The Thai taxpayer has no duty of care to a retiree, that duty of care is your own once you leave your home country. So if the Thai government work out that you can not financially take care of yourself then they have a duty of burden to the taxpayer.

Don't misunderstand me, I acknowledge it is getting harder and harder, I joked with my wife some time ago," If Immigration keep this up, I will go home to Australia and drop you off at the office and say"you take care of her now, i have had enough" But it is what is. And the missus did not get the joke.

Thanks. It's called "personal responsibility" . Some people do it and others feel that the government should do it. Thailand isn't a nanny state thank goodness. It's a great place to live if you have resources to meet the low standards required. People can live on less, but don't constantly complain. You chose to come to this country after all

 

[LoongFred]

Just now, LoongFred said:

Thanks. It's called "personal responsibility" . Some people do it and others feel that the government should do it. Thailand isn't a nanny state thank goodness. It's a great place to live if you have resources to meet the low standards required. People can live on less, but don't constantly complain. You chose to come to this country after all

BTW  the exchange rate was about 23 baht of the us dollar in the 1960s and 70s.

[LoongFred]

On 3/26/2022 at 11:13 PM, astro said:

The required 65k TBH is not a low income, certainly not in Thailand.

The visa holder would contribute quite well, specially out in the sticks, supporting an extended Thai family, creating employment (garden, household and more) and purchase goods & services.

It's OK if you own a house and car, but not actually great. It's a fair starting point.

[JustAnotherExpat]

On 3/27/2022 at 8:31 AM, Marc26 said:

I'm not concerned on losing out on investing that 800k

But with how awful Thai banks are when their is fraud in your account, I don't feel great in leaving 800k in a Thai Bank 

My stepson had 12k fraud from his account and it was an absurd nightmare to get it back

It seems Thai banks actually work against you getting your money back 

The first thing I do every morning while enjoyining my first sips of coffee is check that the 805k baht in my Bangkok Bank account is still there. In the unlikely event something happens, I can jump on it that day. I have personally heard too many stories from expats who suffered bank thaft.

[LoongFred]

7 hours ago, JustAnotherExpat said:

The first thing I do every morning while enjoyining my first sips of coffee is check that the 805k baht in my Bangkok Bank account is still there. In the unlikely event something happens, I can jump on it that day. I have personally heard too many stories from expats who suffered bank thaft.

It's not great to be paranoid about 800k baht in the bank. Much easier if you do "international direct deposit". Mine arrives like clockwork between the 1st and 3rd each month. I sorry your step son had problems, but it could be what's he doing. In many years I've never heard of problems unless you give a relative access to your account

For immigration purposes it's not to easy because account must be I'm you name only. 

[Dancbmac]

12 hours ago, LoongFred said:

BTW  the exchange rate was about 23 baht of the us dollar in the 1960s and 70s.

Really?  Where did you get that information?  Checking Google it was usually averaged 58-59 baht per USD from 1960-1980

https://thb.fxexchangerate.com/usd/1960-currency-rates.html

https://thb.fxexchangerate.com/usd/1965-currency-rates.html

https://thb.fxexchangerate.com/usd/1970-currency-rates.html

https://thb.fxexchangerate.com/usd/1975-currency-rates.html

https://thb.fxexchangerate.com/usd/1980-currency-rates.html

[JustAnotherExpat]

10 hours ago, LoongFred said:

It's not great to be paranoid about 800k baht in the bank. Much easier if you do "international direct deposit". Mine arrives like clockwork between the 1st and 3rd each month. I sorry your step son had problems, but it could be what's he doing. In many years I've never heard of problems unless you give a relative access to your account

For immigration purposes it's not to easy because account must be I'm you name only. 

You're confusing me with another poster, no stepson here. And I'm not being paranoid, I'm just keeping tabs on an important issue, my legal reason for existing in Thailand. It's quite easy, the account is in my name only.

[LoongFred]

11 hours ago, Dancbmac said:

Really?  Where did you get that information?  Checking Google it was usually averaged 58-59 baht per USD from 1960-1980

https://thb.fxexchangerate.com/usd/1960-currency-rates.html

https://thb.fxexchangerate.com/usd/1965-currency-rates.html

https://thb.fxexchangerate.com/usd/1970-currency-rates.html

https://thb.fxexchangerate.com/usd/1975-currency-rates.html

https://thb.fxexchangerate.com/usd/1980-currency-rates.html

I was living in Bangkok from 1970 to 1975 so I can personally verify the exchange rate. A red note was about $5.

[LoongFred]

2 hours ago, JustAnotherExpat said:

You're confusing me with another poster, no stepson here. And I'm not being paranoid, I'm just keeping tabs on an important issue, my legal reason for existing in Thailand. It's quite easy, the account is in my name only.

Sorry my confusion.

[Noble_Design]

14 hours ago, Dancbmac said:

Really?  Where did you get that information?  Checking Google it was usually averaged 58-59 baht per USD from 1960-1980

https://thb.fxexchangerate.com/usd/1960-currency-rates.html

https://thb.fxexchangerate.com/usd/1965-currency-rates.html

https://thb.fxexchangerate.com/usd/1970-currency-rates.html

https://thb.fxexchangerate.com/usd/1975-currency-rates.html

https://thb.fxexchangerate.com/usd/1980-currency-rates.html

The link that you provided does not refer to the year the exchange rate took place. What you assume to be year is actually the amount in THB converted to USD at current rate.

For example take the link for the "year 1960" that you provided and this is what is shown:

It merely shows that 1960 THB (the amount, not the year) is equal to 58.1 USD. Counter check with Google will provide the same result based on current exchange rate:

[Dancbmac]

1 hour ago, Noble_Design said:

The link that you provided does not refer to the year the exchange rate took place. What you assume to be year is actually the amount in THB converted to USD at current rate.

For example take the link for the "year 1960" that you provided and this is what is shown:

It merely shows that 1960 THB (the amount, not the year) is equal to 58.1 USD. Counter check with Google will provide the same result based on current exchange rate:

You & LoongFred are correct and my apologies.  I did not read the top part correctly and another site has it roughly above 20 baht per USD.  I had a former supervisor while I was working in the Middle East tell me that when he was in Thailand during the Vietnam war the exchange rate was around 76 baht per USD in which clearly he was mistaken.

[Dancbmac]

5 hours ago, LoongFred said:

I was living in Bangkok from 1970 to 1975 so I can personally verify the exchange rate. A red note was about $5.

My apologies I read the website incorrectly.

[Thaidup]

On 3/26/2022 at 12:26 PM, Vigo said:

There isn't a country in the world that targets low income foreigners.

This part of you your statement may be contestable, At this point in time any low income/uneducated person can cross the Mexican border into the USA illegally and simply claim asylum, last year alone they had close to 2 million do that.  https://edition.cnn.com/2021/03/31/politics/migrants-us-southern-border/index.html

[Marc26]

6 minutes ago, Thaidup said:

This part of you your statement may be contestable, At this point in time any low income/uneducated person can cross the Mexican border into the USA illegally and simply claim asylum, last year alone they had close to 2 million do that.  https://edition.cnn.com/2021/03/31/politics/migrants-us-southern-border/index.html

What you linked literally does not say that, not even close......

Do you guys ever care if you have the facts correct? Or just say whatever you want because it suits how you feel?

 

The article reads that there were 2mil encounters, not 2mil granted asylum or even allowed to seek asylum

 

The significant majority of them are expelled immediately and the others(that 21.7%) will face expulsion

 

 

• 56.7% of Border Patrol encounters led to an immediate expulsion under Title 42;
• 21.7% of Border Patrol encounters led to a person being released at the border under humanitarian parole, with a notice to report to an ICE office, or with a notice to appear in immigration court;
• 10.7% of Border Patrol encounters led to a person being sent to an ICE detention center or to a state, local, or federal jail for criminal prosecution.
• 7.6% of Border Patrol encounters were of an unaccompanied child who was sent to a shelter run by the Office of Refugee Resettlement.
• 3.3% of Border Patrol encounters led to an immediate deportation.

 

 

 

[Thaidup]

On 3/28/2022 at 10:13 AM, LoongFred said:

It's OK if you own a house and car, but not actually great. It's a fair starting point

And this is how to think about retirement in Thailand, Get all the of high-end costs sorted before you make the move. We built our house and bought a newish car while still working in my home country, I did not stop working until I was sure that all major expenses had been covered first. It may take an extra few years of work but just expecting to "wing it" is plain stupidity.

Sometimes I honestly feel that the horror stories of farangs getting ripped off by Thai women and losing everything are just plain stupidly dumb westerners thinking that they are smarter than the average Thai.

Now you tell me, If a bar girl from UdonThani, with no education can swindle a western educated man out of his life savings, whom of the two is the smartest?

Can I say this on the forum? I will self edit. A saying we used to have for men that pander to women and let them control them " SOFT C-CKS".

[Thaidup]

26 minutes ago, Marc26 said:

What you linked literally does not say that, not even close......

Do you guys ever care if you have the facts correct? Or just say whatever you want because it suits how you feel?

The article reads that there were 2mil encounters, not 2mil granted asylum or even allowed to seek asylum

The significant majority of them are expelled immediately and the others(that 21.7%) will face expulsion

• 56.7% of Border Patrol encounters led to an immediate expulsion under Title 42;
• 21.7% of Border Patrol encounters led to a person being released at the border under humanitarian parole, with a notice to report to an ICE office, or with a notice to appear in immigration court;
• 10.7% of Border Patrol encounters led to a person being sent to an ICE detention center or to a state, local, or federal jail for criminal prosecution.
• 7.6% of Border Patrol encounters were of an unaccompanied child who was sent to a shelter run by the Office of Refugee Resettlement.
• 3.3% of Border Patrol encounters led to an immediate deportation.

Ok understandable rebuff, I hearby reduce the 2 million to 400,000 in my original post, I cant edit it now so please accept this post as having that amount changed. Now go on with your point. The 400. 000 comes from the 21% released into the country.

Edited March 29, 2022 by Thaidup

[Marc26]

42 minutes ago, Thaidup said:

Ok understandable rebuff, I hearby reduce the 2 million to 400,000 in my original post, I cant edit it now so please accept this post as having that amount changed. Now go on with your point. The 400. 000 comes from the 21% released into the country.

And most of them will be deported

 

Far cry from the 2mil you say they let in......

 

But I appreciate the accepted rebuff   :)

[Thaidup]

5 minutes ago, Marc26 said:

And most of them will be deported

That may be debatable, If you said " And most of them will be designated for deportation" Than I would have agreed.

[Marc26]

16 minutes ago, Thaidup said:

That may be debatable, If you said " And most of them will be designated for deportation" Than I would have agreed.

yes and I agree with that................

Not ideal

[Fundok]

On 3/26/2022 at 1:10 PM, BigHewer said:

Totally agreed. I look at it as free money too. The real money is what you put away in private pensions and investments. 

Japan has a pension agreement with the UK, Australia and NZ and I have toyed with the idea of moving to one of the three before retirement to qualify. All three are better than Japan, but not by a lot. I would have to sell my house and leave the Japanese medical system, neither of which I want to do. 

I still plan to retire in Thailand. I’ll be using my private pensions to qualify.

In Switzerland there is a 3-pillar-system. The maximum of the 1st pillar (AHV) would provide for the 65'000 THB threshold but only if you paid in for 40 yrs. Me, being an expat who lives and works in Switzerland for about 15 yrs now, will probably get around 1'000 CHF/month once I retire, about 35'000 THB, so not enough. But the 1st pillar is only meant to cover your bare exisence, the most important pillar is #2, the pension fund. Wherever you work in Switzerland, you pay into your own pension fund, and if you change your employer, you take your savings with you and put them into the pension fund of your new employer, sort of like a personal savings account. Upon retirement, the savings you have will be converted using an annuity factor granted by the pension fund provider, i.e. 6%. So for everyone 100'000 CHF you have saved in this example you'd get a yearly pension of 6'000 CHF=500 CHF/month. If your pension savings are 200'000 CHF your monthly pension would be 1'000 CHF and so forth. So the longer and the more you pay into the 2nd pillar, the higher your pension. 3rd pillar is for building up even more i.e. by taking out a tax-priviledged life insurance.

1st and 2nd pillar combined would easily bring me above the 65'000 THB threshold, but I don't think I want to retire in Thailand. Visiting for a couple of months every year will do the trick. Even my Thai wife prefers living in Switzerland or Germany as long as she can spend some time in Thailand every year.