Even at 38 baht to the pound most retirees won’t and cannot leave Thailand

[webfact]

Even at 38 baht to the pound most retirees won’t and cannot leave Thailand

By Dan Cheeseman

 

 

The UK pound continues to drop against the Thai baht and at time of writing it is floating around the 42 baht to the UK pound.

 

 

It was not long ago that Brits enjoyed a healthy 70 baht to the pound if you go back a 8 or 9 years ago, but since then things have gone from bad to worse.

 

According to pensionbee.com the average UK pension is £403 a week, this drops to £369 after tax. At todays price that is 62,000 baht a month, back when it was 70 baht to the pound retirees would have had 103,320 baht per month so the drop in income has been huge. In fact I would go as far to say that it has been devastating.

 

Many Retirees say 40 baht to the Pound is their breaking point, but is it?

 

Many retired expats comment on forums like Thaivisa.com that the breaking point for them is 40 baht to the pound, which if that is the case means we could see many British expats soon up sticks and leave Thailand. But, would they? What we don’t know is how sticky Thailand as a retiree destination is and there are other factors at play that I discuss later. I would suspect a fall any further will not attract more retirees but for those already here maybe home is still home whatever their budget.

 

For curiosity I wanted to run a scenario at a 38 baht to the UK pound and crunch some numbers around that point. To me it looks fairly tight. The lowest UK pensions come from the North East of England where they get on average, after tax, £269 a week. So let’s say £1,069 a month which is 45,000 baht to live on in Thailand.

 

Full story: https://danaboutthailand.com/2018/08/17/even-at-38-baht-to-the-pound-most-retirees-wont-and-cannot-leave-thailand/

 

-- DAN ABOUT THAILAND 2018-2018-08-17

[theguyfromanotherforum]

Oh, Dan

[robblok]

Whenever I read about the pound and Brexit I imagine Mel Gibson waving his big sword and shouting BREXIT. (i know the Guy is American and the movie is about Scottish freedom). Anyway that image always comes up to mind.

 

I wonder how many of the Brexit supporters (expats) would still support Brexit at 38 to the pound.

[BritManToo]

13 minutes ago, webfact said:

So let’s say £1,069 a month which is 45,000 baht to live on in Thailand.

I believe we had a thread where many of us can live happily on 20k/month.

I'm OK with 25bht/pound, but I'd probably jump to Vietnam or Philippines where western currency drops are usually matched by the local governments.

[BritManToo]

1 minute ago, robblok said:

I wonder how many of the Brexit supporters would still support Brexit at 38 to the pound.

 

I would!

And as I've just posted 25/pound would be OK.

(PS. I thought Mel was Australian)

 

[ThaiPauly]

People will just have to suck it up, especially if they have a wife, let alone children.

 

If they want to go back to their country of origin and take their wife then there are all the visa issues, if they are past retirement age they have to show 62,000 GBP in the bank in the UK for example, they have to show they have somewhere to live in the UK......impossible unless they are going to live with their children.

 

It just won't work.

 

So stay they must until things improve and the pound climbs which it won't until Brexit has been finalised one way or the other

 

 

[robblok]

3 minutes ago, BritManToo said:

I would!

And as I've just posted 25/pound would be OK.

(PS. I thought Mel was Australian)

 

My mistake i think you might be right. 

[AtoZ]

I guess people should think twice to have a kid after being 50++ y old and without a nest egg

[KiChakayan]

"The lowest UK pensions come from the North East of England where they get on average, after tax, £269 a week."

So UK's got its Issan?...

[Henryford]

I could live with almost any exchange rate. My basic living costs are only 20,000 a month. As the Pound drops though i just spend less and less on bars and hookers.

[KiChakayan]

If I was in this situation I'd have a thorough look at some European countries, Portugal in particular. But only for guys without a family. And the option may go after Brexit.

[Joinaman]

lowest pension of 269 pounds ?

most people i know, me included, get the state pension of 164 pounds

 

[OneMoreFarang]

25 minutes ago, Henryford said:

I could live with almost any exchange rate. My basic living costs are only 20,000 a month. As the Pound drops though i just spend less and less on bars and hookers.

And I thought bars and hookers are part of the basic living cost ?

[55Jay]

9 minutes ago, OneMoreFarang said:

And I thought bars and hookers are part of the basic living cost ?

It is.

Bars and chicks

Food

Shelter

Water

 

In that order.  ?

 

[Kwasaki]

Quoting average figures make no sense whatsoever.

[sammieuk1]

The pound has lost 1.5 Turkish lira per pound this week if you need a junk measure ?☠️

[ChiangMaiLightning2143]

1 hour ago, Joinaman said:

lowest pension of 269 pounds ?

most people i know, me included, get the state pension of 164 pounds

 

Better off here or the bedsit in Oldham?

[vogie]

1 hour ago, robblok said:

Whenever I read about the pound and Brexit I imagine Mel Gibson waving his big sword and shouting BREXIT. (i know the Guy is American and the movie is about Scottish freedom). Anyway that image always comes up to mind.

 

I wonder how many of the Brexit supporters (expats) would still support Brexit at 38 to the pound.

I should imagine most would, it has never been about money.

[Henryford]

1 hour ago, robblok said:

Whenever I read about the pound and Brexit I imagine Mel Gibson waving his big sword and shouting BREXIT. (i know the Guy is American and the movie is about Scottish freedom). Anyway that image always comes up to mind.

 

I wonder how many of the Brexit supporters (expats) would still support Brexit at 38 to the pound.

 

Once we are free of the shackles of the Evil Empire Britain and the Pound will flourish.

[robblok]

Just now, vogie said:

I should imagine most would, it has never been about money.

I am talking about Brexit supporters who are expats. They have nothing to gain or lose from a Brexit besides financial issues as they don't live there. So for them it would be about money. If you reside in the UK I can understand being pro or against Brexit as it really affect your life. If you live here it only affects your income. 

[robblok]

1 minute ago, Henryford said:

 

Once we are free of the shackles of the Evil Empire Britain and the Pound will flourish.

Right.. ? 

[vogie]

1 minute ago, robblok said:

I am talking about Brexit supporters who are expats. They have nothing to gain or lose from a Brexit besides financial issues as they don't live there. So for them it would be about money. If you reside in the UK I can understand being pro or against Brexit as it really affect your life. If you live here it only affects your income. 

I am talking about expats that live in Thailand too, if you have been following any of the brexit threads you would realise it's not all about money, that said nobody likes to take a drop in ones lifestyle but some think what is best for our country is paramount.

I have read your reply again and I appologise if this doesn't answer it.

[Kwasaki]

1 hour ago, robblok said:

I wonder how many of the Brexit supporters (expats) would still support Brexit at 38 to the pound.

Forget what it was before Brexit 49 I think.

[wgdanson]

1 hour ago, Henryford said:

As the Pound drops though i just spend less and less on bars and hookers.

And stop wasting the bit I have left !

[wgdanson]

2 hours ago, webfact said:

So let’s say £1,069 a month which is 45,000 baht to live on in Thailand.

So how do you get your Retirement Extension?

[ThaiPauly]

1 hour ago, Joinaman said:

lowest pension of 269 pounds ?

most people i know, me included, get the state pension of 164 pounds

 

Yeah, I wondered where that figure came from, it's certainly not right! Maybe the person he was talking to had a small private pension?

[OneMoreFarang]

33 minutes ago, robblok said:

I am talking about Brexit supporters who are expats. They have nothing to gain or lose from a Brexit besides financial issues as they don't live there. So for them it would be about money. If you reside in the UK I can understand being pro or against Brexit as it really affect your life. If you live here it only affects your income. 

I am not from the UK but I still worry about Brexit. I am also not from the US and I worry about Trump. Both are shocking developments which are not good signs for a future peaceful world. When I was young there were lots of borders and many currencies and little international contact for normal people, there was also no internet. Later borders were removed, the euro was introduced, and people had more and more international contacts. Many thought that is the direction to go to have finally one day world peace (please don't laugh, I talk about long term future).

All this is now going down the drain with people like Trump and stupid ideas like Brexit.

It's not only about money. It's about our kids and our planet's future!

[Kwasaki]

27 minutes ago, wgdanson said:

So how do you get your Retirement Extension?

Through an agency or get married and get a 1 year marriage extension.

[Janner1]

I write here entirely without prejudice 

 

The pound is in fact a very strong currency however it is being manipulated by the greedy money mongers in London and in particular by the Bank of England who are all remainers and set a course of punishment for the leavers but their actions are in fact punishing everybody except the said bankers and money manipulators, (but then when do they ever lose)

 

The situation in England is such that unemployment is now down to just 4% and continuing to fall, order books are full for our products not because the pound is low but because if we leave the control of the EU extortionate costs and charges levied by Germany and Brussels will disappear..

 

It is on record that just 5 minutes after the result of the Brexit poll was announced most of the major economies across the world flooded the British government with requests for business deals.

 

The biggest problem facing Britain is that we have a remainer pretending to be a leaver stalling on Brexit in order to force us into another vote because no deal will have been done, and until such times as someone grow a pair of balls and tells this horrible bunch of thieves and thugs in Germany and Brussels exactly where to go Carneys carnage will continue to exact punishment on us all.

 

[james1995]

they could take up an income producing hobby.  might supplement their incomes.  i run a little online gig and it's bringing in 30,000 baht weekly.  started out as a hobby and now i'm doing it full time.  people are so jealous because they don't believe me.  but here i am, living in thailand on it.