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Retirement in Krabi.


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Not sure how old the OP is, but my recommendation would be to come to Thailand but plan to work for just over a year when you first arrive

Why?

To get a job with a work permit and to get registered in social security

You will need to work at least a year to get this set up, but then once leaving your job

You can then go to the social security department and sign up to pay premiums of aprox 400 thb per

Month, which can be automatically deducted from your Thai bank account

This will then solve one of your biggest future problems.. As you will then have some sort of coverage

Is it the best, maybe not .. But is surely better than nothing and will come in handy if any major problem arises I the future

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This is a good idea. I no longer work and am still able to do this. Further, once you reach retirement age, you will be eligible for some money. Not much, but I figured by the time I reach the age, it will be enough to cover most of what I've paid in to that point.

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That is not correct it must be the husbands money only.

From clause 2.18 of police order 777/2551

(6) In the case of marriage to a Thai woman, the alien husband must earn an average annual income of no less than Baht 40,000 per month or must have no less than Baht 400,000 in a bank account in Thailand for the past two months to cover expenses for one year.

I don't know what to tell you. This is what it said in the official book they were using. And, I was allowed to submit it as my financial requirement.

In any case, with or without the wifes income, for those who are of retirement age, it may be a better choice than a retirement visa.

That was the rule about seven years ago but it only lasted a year or two.

Maybe your Immigration Office has an old rule book. wink.png

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I'm living on 65.000 a month.

17.000 Rent (could find a cheaper house but like to live comfortably)

1.000 electricity

200 water

15.000 pocket money for wife and kids

32.000 for the other things like car, bike, travel...

00.000 left at the end of the month

Wouldn't like to restrict myself too much.

But compare how you would live on your pension in the UK/Thailand.

I've often wondered why such a high(40,000 baht) monthly income was required. Now I can see why. Those are some VERY expensive figures.

17,000 for rent is a hell of a nice house even in Krabi. You can find very nice houses in that area for 1/2 that. And 32,000 for car, bike and travel. Where do you plan to travel to each month that it is going to cost you $1200USD?

Another funny thing about the 40,000 is that I have met very few teachers who make that much. Down here, in Hatyai, it seems most make between 30 and 35 and have no problems.

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That is not correct it must be the husbands money only.

From clause 2.18 of police order 777/2551

(6) In the case of marriage to a Thai woman, the alien husband must earn an average annual income of no less than Baht 40,000 per month or must have no less than Baht 400,000 in a bank account in Thailand for the past two months to cover expenses for one year.

I don't know what to tell you. This is what it said in the official book they were using. And, I was allowed to submit it as my financial requirement.

In any case, with or without the wifes income, for those who are of retirement age, it may be a better choice than a retirement visa.

That was the rule about seven years ago but it only lasted a year or two.

Maybe your Immigration Office has an old rule book. wink.png

I do believe a puff of dust came out of the book when he opened it.

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You could live like a king on that money here....but I don't drink or smoke and own my house.

King of what? King of the poorest nation on the planet? I disagree here.

I think some people have listed already rent, bills etc. (health insurance??) but I tell you, I live modestly here and would not try to live on 38,000 a month. That would be counting your satangs daily in a little book like a friend of mine who no longer lives here, used to do.

At least 60,000 OP, otherwise join your similar type crowd in Udon.

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If you are married to a Thai, and the money requirements are too high, you can get a marriage visa. It is 400,000/40,000 and you can include your wifes income in the 40,000.

No you cannot.

It has to be the applicants money/income alone.

Last year I renewed my visa and added my wifes income to mine to make the 40,000 and passed with no problems.

Down here in Phuket, the current rules say husband only income applies or money in husband's name only in a bank account. The mixed rule used to apply quite a few ago. But nit now. And we are taking about an annual extension, not a new visa.

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Firstly, I would think Krabi is even a bit more expensive than you imply, but more importantly do you want to live in a way that creates a "horror" out of your "paradise." Those who have suggested that you give it six months before making any permanent choice have advised well. I am an American by the way. We have it easy with retirement visas and I and my American spouse live very comfortably on 60K baht per month, but own our condo and a car. We mostly eat Western food in and Thai food out. Consider owning and you drive your monthly costs very low if you anticipate 25 years here. Buy any condo in Farang name. We, as of this moment, still get inflation adjustments.

No one has mentioned why your pension becomes fixed. It is because you are (usually) not spending it within the home country. Now if you will get increases within the EU, which I would recommend you confirm, you may wish to consider tropical locales within the EU. OK, not tropical quite, but not "Blity" either. South Africa would be on my short list to consider, but I do not know your pension issues. Pretty much a beautiful year round climate there. Durban or Capetown rather than Johannesburg.

A wise man once said: "No one plans to fail, but many fail to plan." I hope you don't let misfortune just happen to you as a surprise on such a small amount. Here is a web site that should be helpful.

http://www.numbeo.com/cost-of-living/comparison.jsp

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I am an American by the way. We have it easy with retirement visas

I have a feeling this American preferred status is going to be disappearing soon. A buddy of mine was recently exempted from the new visa run rules on the basis that he is an American.

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You must have money enough to get the extension of stay. So you can live here. Otherwise you have to do visa and border runs all the time. It cost a lot of money and it's very boring if you like to live here many years. And how long time can you do those visa runs before the Immigration will stop you? New and stricter rules will soon apply.

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YES, you can manage to have a good decent life in Thailand with an income of THB 38000 pm.

The following road posts will help you to that aim :

1) have THB 350000 ( GBP 6500 ) ready to be deposited at a Thai Bank plus a verification of income letter from your embassy stating you get a monthly income of GBP 652 or, alternatively, have the sum of THB 800,000 deposited in a Thai bank for three consecutive months prior to your retirement visa expiration ( two months for the initial application ).

2) get a one-room apt in a Bangkok suburb near a major shopping mall and communications node for THB 3000-7000 ( you may need to refurbish it yourself with the such as window netting plus provide AC, fridge, wash machine etc which you can easily buy in Thailand or send from the UK by ship as used personal belongings)

3) buy annual health insurance in Thailand ( THB 40000-80000 )

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But how fun is it as a single retired man to live alone in a house in the Isaan countryside ?

I guess it would all depend on how quickly he finds some cute little leach.

But I was under the impression he was married. Maybe I misunderstood something.

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I spend less than 38,000 baht a month, although my income is greater than that, and think I have a fairly comfortable life style and don't find myself skimping. I am not living in a village but a city, enjoy a drink or two and regularly eat western food. But as mentioned before your major concern could be health. If something goes wrong and you are not covered by insurance or have no reserves you are in trouble.

 

Yes, you can survive on 38K living in Thailand.I can do it on 30K/month
I already posted my monthly balance of spending on other forum .
If you do not own a car here then is no problem.Once per moth I can afford to rent a car for 4-4 days trip into country.
Me and my g/f renting very decent condo in (Zeer Rangsit) , eating western food (90% of the time cooked by myself)
Since I am in Bkk from 8 of March 2014 I have spent $3800 including (buying some appliances for the kitchen) one trip for 2 to Vietnam (4 days)and 1 trip to Pattaya for 2 days.
Also I am studying Thai language in Asok hence extra costs for travelling 3/week.(Course was paid before)
Practically $1K per month with careful planning on grocery you should live comfortably (under condition that you will cook for yourself)
I am heavy user on electricity hence with air con ON non stop working(with adjustment to 28deg.)paying cable TV and internet I am happy to have life here.
I could not survive in Australia on my pension being alone and not having my "own roof above my head" without extra work.
I do not need much from life now ... just to have quiet and worry free life.
Who do not believe in my words are welcome to my place to see it.
On my older years I deserved to have worry free life and Thailand as far allowing me to have it.
I do not know how people live in Krabi but if i can survive in BKK hence somewhere else should be not a big problem.

Edited by gigman
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I am an American by the way. We have it easy with retirement visas

I have a feeling this American preferred status is going to be disappearing soon. A buddy of mine was recently exempted from the new visa run rules on the basis that he is an American.

Er, I don't get this at all. If he is being exempted from the visa run rules how is he NOT being preferred? I don't know anything about this of course, but to question it's logical assumption. Or perhaps you just enjoy saying that "American preferred status is going to be disappearing soon." Odd you choose a few words out of context and off topic to comment upon.

I am here on a non immigrant retirement visa and have just renewed it for the 7th time. This fellow's case is different because if he "commits" he begings to tick the clock toward there being no inflation adjustments in his case. I am not yet of "retirement age" for American benefits and do not expect to collect for a decade anyway when I am 70 to get a larger lump "later" when it might be most useful.

In this fellows case his greatest enemy is the unknown of domestic inflation and currency exchange rates in ten years. Present conditions are a nice start point, but a poor planning tool if his income is fixed and there is no safety net. Look into the provincial hospital in your area and see what happens to health care if you do not have cash to pay for a private hospital and my point should be clear.

One man's "survival" might be another man's "paradise" but I have seen a lot of elders totally blindsided by relatively small unexpected costs.

Edited by Justanotherpassword
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