Retire, to Chiang Mai!

[Pilotman]

Just now, BritManToo said:

Cambodia pay 6% and for USD accounts.

and ask yourself why?  It's risk against reward and any sizeable amount in a Cambodian bank is unprotected and therefore at risk.  

[MadMuhammad]

6 minutes ago, BritManToo said:

Cambodia pay 6% and for USD accounts.

I don't know if Thai banks are safe, but I doubt they're any safer than Cambodian banks, so I'd rather have the 6%.

Great returns for a bank. Term deposit or just a foreign currency account? 

 

My share portfolio has returned 11%p.a The last 3 years so I’ll keep my cash there while keeping what is required in my Thai bank account for visa compliance and yearly living expenses

[FolkGuitar]

90-day reporting is a bother... almost as much as a mosquito is a bother, and requires just about as much yearly attention. A few letters into the mailbox takes care of it.

 

Going to Immigration once a year DOES require a trip there. That's true. Last time we renewed, it took almost 30 minutes from the time we entered until the time we left. If this is too much of a bother for you, don't live here. It really is that simple.

 

If you see corruption at every turn, while the rest of us do not, perhaps the problem is your perception, not ours. That, or you don't choose to follow the local laws and keep getting stung because of it. I've never been asked for a bribe. I have a Thai driver's license and have no need to pay off the fact that I do not.

 

For the total of about an hour a year complying with Thai governmental rules, we spend the other 364 days and 23 hours without need of complaint or aggravation. Personally, I don't like to be aggravated. Apparently, some people do.

 

[VIPinLanna]

On 9/18/2019 at 4:07 PM, sfokevin said:

Given your financial position (No 65k/month or 800k bank) your Backup Plan 1 seems to be the most likely scenario...

Thanks for all the replies. I already have a 1.2mil fixed account account at BKK Bank rolling over for years. Used to get a nifty return, now not so much.

The burning season has been done over. After visiting every main tourist area of Thailand years ago I like Chiang Mai for several reasons but I guess I have to go to the beach

for a few months. 

[VIPinLanna]

On 9/19/2019 at 9:11 AM, MadMuhammad said:

I’m 41 and retired to Pattaya last year. I liquidated everything in Australia, my home amongst them. 

 

I invested a large chunk of cash in my ASX portfolio which has returned 11%p.a. in the last 3 years plus I have around 7 years living costs in cash should the need arise. 

 

I have a budget of 70Kthb a month without touching my capital. That pays for rent (24K. Modern 2 bed condo 100m2), utilities, insurance and registration on 3 bikes and 1 car, groceries, dental, visa etc with approx 1000thb a day for whatever. 

 

I planned for 3 years before relocating, worrying whether it was a good idea, what people would think etc and it’s honestly the best decision I have ever made. 

From the basics you have presented you  look financially sound, just be sure to plan for every eventuality, an for the worst and hope for the best and you’ll never look back. 

 

good luck! 

This is the kind of thing I am looking at, income investing with my liquid portfolio and cash. I am very risk averse. re: CHEAP!I can do what ever I want with the 401k but, cant take it out without penalty. I am only 52. Social Security is a long way off. My other concern is health insurance, which I can continue with but what good is it in Thailand? I would have to pay out of pocket and apply to reimburse for everything.

[sfokevin]

8 minutes ago, VIPinLanna said:

can do what ever I want with the 401k but, cant take it out without penalty. I am only 52.

You can set up a SEPP with a portion of your 401k and take regular funds without penalty...

[VIPinLanna]

On 9/19/2019 at 9:13 AM, CMNightRider said:

If I were you, I would look at Portugal or even Japan.  Thai Immigration imposes far too many requirements for westerners to live in Thailand.  

 

These people want 800,000 baht deposited in a Thai bank, they require you to check in with Thai Immgration every 90 days, and demand to submit a TM30 form to immigration within 24 hours everytime you return from any trips where you spent the night in another location.  

Please tell me how to retire to Japan?

 

Europe is not for me. I actually had the Climbing bug in younger days and went all over Europe, South America, trek to India. Finally I realized I don't really like travelling, most places I have been to I want to leave after 2 days. Other than Northern Thailand one place I do love is Japans countryside but I don't think retirement is an option. It is an strict country. Americans can only stay 6 months unless working or married. If your wife dies they kick you out unless you get PR which sounds like 7-10 years. Only place I have every been refused a seat at a restaurant or a Taxi ride (except BKK drivers not wanting to go somewhere). I understand it is not racism so much as they cannot cannot cannot handle "misunderstandings". Foreigners can buy land and houses in Japan but nobody will rent you an apartment without a Japanese cosigner. Get that ? Also it is like the US East Coast most of the time the weather sucks. They are worried about the Tokyo Olympics killing athletes. I once saw fall foilage near Misawa air base there put Vermont to shame. Then it snows 4 or 5 months.

[FolkGuitar]

1 hour ago, VIPinLanna said:

Please tell me how to retire to Japan?

...... Only place I have every been refused a seat at a restaurant or a Taxi ride (except BKK drivers not wanting to go somewhere). I understand it is not racism so much as they cannot cannot cannot handle "misunderstandings".

 

The odds are, the restaurant at which you were refused is a place that caters to the Japanese businessman on an expense account. Usually no prices on the menu, and it's easy for a dinner for two, with drinks, to cost $750.00 USD and up! They were trying to spare you the embarrassment.

 

Foreigners can buy land and houses in Japan but nobody will rent you an apartment without a Japanese cosigner.

 

Sure they will. But you have to be willing to pay "Key Money" to the landlord. This can be six month's rent that you do NOT get back when you leave. Add to that first and last month's rent plus a security deposit of two or three month's rent, and few foreigners are willing to pay that. Even Japanese renters must pay Key Money, but it's usually lower, as is the security deposit.

[LivinLOS]

21 hours ago, FolkGuitar said:

 

I guess the US Passport Service must be corrupt, too, because you can pay them for expedited service. In fact, many facets of most governments have expedited service available. I'm not sure where you get the idea that this is corrupt?

because the law says the form is free.. The money you pay slides into the officers drawer / pocket. 

 

Thats the very definition of corruption, being forced to pay for a free form from an officer. 

[LivinLOS]

On 9/19/2019 at 8:15 AM, Dante99 said:

It is nice to have your input as a person from a corruption free country?  Do tell us where you come from to have enjoyed such an experience.

 

You appear to have not read what I quoted

 

Quote

I call BS. If you have all the proper documents required from Immigration, there's no corruption involved. I've never paid 1 baht in corruption money.

 

So now we agree there is corruption.. its just a scale of how much corruption is accepted. 

 

[VIPinLanna]

1 hour ago, FolkGuitar said:

 

The odds are, the restaurant at which you were refused is a place that caters to the Japanese businessman on an expense account. Usually no prices on the menu, and it's easy for a dinner for two, with drinks, to cost $750.00 USD and up! They were trying to spare you the embarrassment.

 

 

 

 

Sure they will. But you have to be willing to pay "Key Money" to the landlord. This can be six month's rent that you do NOT get back when you leave. Add to that first and last month's rent plus a security deposit of two or three month's rent, and few foreigners are willing to pay that. Even Japanese renters must pay Key Money, but it's usually lower, as is the security deposit.

No. It was just some very local looking Izuikaya. All I got was "NO ENGLISH" and the crossed arms in X bum rush.  I have seen a restaurant in Roppongi with a clear sign posted that said foreirners were warmly welcome "with Japanese friends only". There was an article about somewhere about  foodies being refused reservations but if they book from the concierge of a major hotel they could get in who would be guarantor if the foreigners no-showed.  Like you said in Japan the man always gets paid. I went to one of those fantastic places once through friends it was only about $180 per person as I recall incredible sushi courses and appetizers so high qual it put me of US Japanese food for about a year. Absolutely no comparison.

 

[FolkGuitar]

2 hours ago, LivinLOS said:

because the law says the form is free.. The money you pay slides into the officers drawer / pocket.

 

The Thai form IS free. You are paying for expedited service.

You don't want to pay? You don't have to. It's not required.

Same with the US Passport Service... You want it faster? Pay for it.

No corruption at all. Expedited service.

[LivinLOS]

19 hours ago, FolkGuitar said:

 

The Thai form IS free. You are paying for expedited service.

You don't want to pay? You don't have to. It's not required.

Same with the US Passport Service... You want it faster? Pay for it.

No corruption at all. Expedited service.

LOL.. If you dont think unofficial payments legally not required that go directly into the officers incomes is not corruption then you will never see it. 

 

The only reason the slow option is slow, is to force the corrupt option. 

The same as why we live in a state of constant road devastation, because the only people who get the contract are the ones who pass 30% back to the giver. I read a study with figures I have no way to verify that said Thai roads cost per mile more than german roads, as your paying for that with every over taxed item you buy, let that sink in for a minute. 

 

Corruption, and the culture of paying fees to avoid laws is probably the greatest problem Thailand faces in improving its standards of living and GDP and incomes. The tentacles of it spread to a myriad of different issues such as poor driving standards, a 2 tier justice system for rich and poor, direct foreign investment and the costs of such investment (eg the Kumagai Gumi tollways scandals) etc etc.. 

[CMNightRider]

On 9/20/2019 at 12:56 PM, VIPinLanna said:

Please tell me how to retire to Japan?

 

Europe is not for me. I actually had the Climbing bug in younger days and went all over Europe, South America, trek to India. Finally I realized I don't really like travelling, most places I have been to I want to leave after 2 days. Other than Northern Thailand one place I do love is Japans countryside but I don't think retirement is an option. It is an strict country. Americans can only stay 6 months unless working or married. If your wife dies they kick you out unless you get PR which sounds like 7-10 years. Only place I have every been refused a seat at a restaurant or a Taxi ride (except BKK drivers not wanting to go somewhere). I understand it is not racism so much as they cannot cannot cannot handle "misunderstandings". Foreigners can buy land and houses in Japan but nobody will rent you an apartment without a Japanese cosigner. Get that ? Also it is like the US East Coast most of the time the weather sucks. They are worried about the Tokyo Olympics killing athletes. I once saw fall foilage near Misawa air base there put Vermont to shame. Then it snows 4 or 5 months.

I read if you are attending full time Japanese classes, Japanese Immigration will extend your visa to a long term visa. Maybe send a private message to "FolkGuitar" and he could advise you better.  He said he lived in Japan several years.

[fhickson]

On 9/20/2019 at 8:52 AM, Pilotman said:

and ask yourself why?  It's risk against reward and any sizeable amount in a Cambodian bank is unprotected and therefore at risk.  

any deposit outside your home country your putting funds at risk since your rights are not guaranteed, likely outweighing the benefits.
probably safe with swiss accounts and other recognized respectable institutions.

[amexpat]

On 9/20/2019 at 5:43 PM, FolkGuitar said:

 

The Thai form IS free. You are paying for expedited service.

You don't want to pay? You don't have to. It's not required.

Same with the US Passport Service... You want it faster? Pay for it.

No corruption at all. Expedited service.

US Passport Service will give you a receipt.  Thai "immigration service"?  

 

Not expedited service. Delayed service if you don't pay the bribe. 

[FolkGuitar]

1 hour ago, amexpat said:

US Passport Service will give you a receipt.  Thai "immigration service"?  

 

Not expedited service. Delayed service if you don't pay the bribe. 

 

Actually, it says quite clearly, in writing, that the form will take three-four weeks (I don't recall which) to process. So not really delayed service, is it?  If you want it faster (i.e. Expedited Service) you pay for it.  But isn't it fun to pretend that you are being taken advantage of?

[cheeryble]

Don't do it.
We have the worst air in the world from February to March.
And the most corrupt immigration office in the country.
Not to mention police stops around the moat and superhighway every day looking for bribes.

There is a Smokey season which is easy to deal with.
The other two in my experience are grossly exaggerated at best, untrue is more like it


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[cheeryble]

I have lived in Thailand a total of 25 years, last five in C/M and still like Thailand.  If you meet the retirement requirements do consider coming here but as many say, plan at first to check out the area and other possible areas for at least several months.  There are a multitude of places to retire here depending on what you are interested in.  I also note from many respondents that the air quality during the burning season is horrible and a N95 mask blocking out the 2.5mm particles is a must during that time. In addition for all those who do read this, for the past month the air quality for C/M has been more in the 90's than in the green so I guess it is due to auto exhaust but for anyone with breathing problems it could negatively affect you!

 

From what I can see, Trees are being trimmed this time of year and of course, there’s a bit of burning. I think this will Stop soon.

I saw Four small fires today and beeped my horn Vigorously vigorously passing each one. I wish everyone would do the same I’m sure it will raise awareness in the end.

 

 

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