WhatsNext
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5 hours ago, newnative said:
As I said in my post, I am not saying they are CASH MILLIONAIRES.
I think all of your friends are lucky to be American then maybe. Most retirees in Thailand are from Europe/UK and we have substantially less to spend. Salaries are a lot lower and most countries do not have massive over appreciation of house values.
Again, happy for you but it's sadly not the rule if you aren't American, which is 95% of the world
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16 minutes ago, Celsius said:
made her register for bitkub, she bought some stellar coins and it was in my Canadian account in less than 30 minutes and I think the total fee was less than 2 baht.
This is one of the very few legitimate and safe, if done in a very short time frame like you did, use cases.
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4 minutes ago, newnative said:
800,000 pounds is only a little over 1 million US dollars. I think quite a few expats in Pattaya easily have that much. By that I don't mean a million in cash, but in the combined assets they have--property, stocks, savings, etc.
Just as about 32% of the men in Pattaya are ex marines, ex sas or ex secret service, i think that the number of cash millionaires retirees are grossly exaggerated. Most people i know, among which are a dentist, a lawyer, and several people that worked in ICT are certainly not rich and live in pensions/social security or eating their principal.
Fantasy, boasting and general BS are quite big on this forum, so i would take all the 100 million baht plus for what it is, nonsense.
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12 hours ago, persimmon said:The average UK income is £ 35 k , so you would need around £ 1 million invested .
That would provide a sustainable 120 ,000 per month . Should be plenty .
I would guess that the budget for ladies would decrease with age - nobody wants to be the oldest swinger in town .
When do people realize that you can eat the principal.... 1 million on 20 years basis with say 4% return will give you a monthly of : 6039 UKP
That's 268.433 baht !
To get 120.000 baht per month you only need a capital of : 446.050..
Please guys, learn how to use an annuity calculator and you can retire 10 years earlier than you think.
*edit* For those crypto screamers : Yes there are people that got rich from it, there are however more people that lost money, Bitcoin is just a database, you are buying baked air, as long as everyone is fine with that, the value will increase. If someday people wake up to the nothingness of it all, it will poof in an instant. Keep Hodling ! Daimond hands, listen to airhead influencers, buy your coin, hype, hype, hype.
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1 hour ago, Pattaya57 said:
Your calculations a bit off?
5% on 1 million gives 50k a year or 4167 a month, which is 146k baht per month. Still more than enough for most as you say
No not off, is it's inclusive eating the principal, many people forget that. Your last suit doesn't have any pockets to take the money with you.
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Calculations are quite simple, and many people here overestimate the amount needed :
1 Million US for 30 years against 5% will give you 5345 USD per month or 187,075 Baht.
That's way too much so you can make savings on that amount for later inflation easy peasy.
So even without a pension, 35 Million Baht would be more, more than enough.
I am 59 myself, have a new pool villa, a new SUV, a live in GF and spend less about 1 million baht per year.
That is with the house and car paid for of course.
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4 hours ago, Jingthing said:I read the same thing and really don't get why you think that post is so positive.
If this is implemented, with the emphasis on "If" then the following will apply :
* All income before 2024 isn't taxed when you bring it in, meaning if you have savings and you bring them here, all is fine. By the way, this is how it should be as no country should tax imported savings
So end effect : Keep your pension in your country of origin, or outside of Thailand anyway and live of your savings.
BUT and it's a big but : This is Thailand, everything will change before the new year and then it will be forgotten to safe face, i am not that worried.
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23 hours ago, Dogmatix said:
A real long read about the changes that are happening
Hey thanks for this, very interesting and it shows that it won't be that bad as the previous 149 pages are predicting.
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Just a random, sexist, thought : If this was a young man from Sweden, would he get the same amount of attention and financial help ?
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I read many remarks that you pay tax in country A and then have to pay the difference if country B, which is Thailand in this case, has a higher tax rate than A.
This is not the case, the income is either taxed in A or B, depending on the source and there is no paying of any difference.
Long story short, if you pension is already taxed in A, then no tax in B and the other way round.
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21 minutes ago, Mike Teavee said:
I'm simply going to do 1 year in every 3 as a non-Tax resident in Thailand & bring enough money over that year to live on for the 3 years... Let's see them tax that.
Oh now that is a good one !
I was planning to get an international account, get my pension there and get money that i need here out with a debit/credit card from the ATM. Which could work except when you want to get a new Audi for 4 million baht.
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20 minutes ago, Bkk Brian said:
The study shows your wrong.
"Your wrong" now i understand why I'm still waiting for an argument from your side. Case closed
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3 minutes ago, Bkk Brian said:
I've already given you the link to the study, try the maths again
No it's up to you to give a counter argument, showing that I'm wrong
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34 minutes ago, ozimoron said:
It's an article from an educational institution.
Not a very good one :
1 infection with vax risk 100
1 infection without vax risk 137
2.2x more infections with vax : risk 240
what is higher 240 or 137 ?
i know that trying to change someone's opinion is about as effective as making steak from strawberries, but it's entertaining
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Just now, ozimoron said:
The important part is serious illness. Infections are of little import.
Well you also get 2,2x more risks of serious illness than the not vaccinated ones, while the all cause admissions and death were only 37% lower,
So 220% increase of infections against an only 37% increase in risk... see where this is going. It's a biased article from a journalist that can't use a calculator.
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4 minutes ago, ozimoron said:
Here's some science LOL
As usual, don't just read the headline : "While the incidence of COVID infection was higher in vaccine recipients (6.7 percent) than in individuals previously infected (2.9 percent)," , so the vaccinated had a 2,2x higher risk of getting covid including all the risks that go with it.... But hey that would be reading and understanding and that takes time.
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Great idea, as the protection provided by the vaccines wanes over time and many have had the shots now more than 2 years ago. Also many have had covid without the shots which provides much better protection than the shots, but of course politicians are not that smart and don't include those.
So if this materializes, here we go again not able to leave Thailand for a family visit because of a flu that is less dangerous than the flu, for which the vaccines are expired and don't work. The world is crazy and Thailand is in the top 5.
The smart thing would be to just not accept any flights from China for the next 3 months and don't bother the other 90% of people.
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Great pr as usual from Thailand, first it's "please please come to thailand, we are friendly come come" and then they want to check your papers as you are boinking the bargirl.
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3 hours ago, ThailandRyan said:
Agree to disagree, now go take your heartburn medication because I certainly have you wound tight...
You just have to have another go right, if it makes you happy it's fine. Fun to see that this forum really is full of tw*ts. I don't exclude myself however
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27 minutes ago, ThailandRyan said:
So your payment to the hospital for your medical treatment you just received is a tax and not a payment for a service, hmmm you live in a bubble. I guess any payments you make for services such as gas, propane etc...are taxes because you must have them in order to get around, or if on foot the payments to the MRT, BTS, and Taxi's are a tax, or the entry fee into a National Park or other location is a tax....hmmm you must get taxed to death.
Last try from my side : it's not a service you used and have to pay for.
It's a mandatory forced insurance many people don't need, yet you MUST pay it and you will never use it. Understand ? If not, sorry you are beyond help.
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16 hours ago, ThailandRyan said:
I insure from the US as well, so your point is moot. I am double insured, no out of picket costs at all.
This scheme is for tourist insurance they want to make eryone pay for, I get that, it's the fact that most on here are not tourists and it will not cover us, so we will be throwing money into someone else's pockets. It is the principle of it that you just don't get...
It is not a tax.
Apparently everything is say is moot, or i don't understand it. That's just fine for you. Sadly reality doesn't work like that : Mandatory payments for stuff you don't need, is a tax. Or if you really want to nickpick : a social security payment for an insurance you are not interested in.
But i can clearly see that any argumentation with you is impossible as you label any other opinion than that of yourself as moot.
Enjoy your little bubble.
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48 minutes ago, ThailandRyan said:
So when I buy my health insurance policy from PCH for having an OA visa extension of stay it's a tax and not a payment for a service being given....hmmmm...try again. If it is then I have a lawsuit which needs to be filed for unlawful taxation.
Anything mandatory is a tax or a social security payment. You reason too much from your own picture of the world, what if you are already insured like many from Europe.
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14 hours ago, ThailandRyan said:
This 300 Baht is not a tax, it is a specific amount for Tourist Insurance, why is everyone so blind. If it was just raising taxes on entry then I would be the last to go out on a limb, but it is for a service, a service some of us who would pay it are ineligible for.
Payments for "services" that are mandatory are taxes.
If that's not clear enough for you : What if i bring you a chicken daily and you MUST pay even if you don't want chicken.
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Many more touristy countries have such a tax, when i travelled to the dominican republic i remember an exit tax. It's nothing special but yet another tiny detail that shows that thailand sees everyone as a moneycow ready to be milked.
How many millions of baht does one need to retire in Pattaya?
in Pattaya
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Very true i have a house myself in Hua Hin and this is paid in cash of course, i do know some guys that borrow on their wife's name. However what i mean to say is that this is certainly not the majority of the expats in Thailand. Quite a lot of them don't have the 800k THB in the bank for the retirement visa and live on a basic EU pension which can be anywhere from 900 to about 1200 Euro if you are single.
Like everywhere there are rich(er) and poor(er) people around, and in my years in Pattaya i certainly didn't get the impression that the majority had a lot of cash lying around. Most retirees live in places like the Markland, rooms in soi bukhao and condo's in Jomtien like the VT series. Rents are 12-20k and the rest is spend on drinking, girls and hanging out with the boys.