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jacko

The screw keeps on turning... extensions of stay!.

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13 hours ago, jacko said:

Yes, I believe so for retirement extensions. It just seems to be extra complicated to verify both components. In the past many may have been put off by the requirement to get Embassy letters and Bank letters. This may be the saving route for those with smaller pensions, ie a UK State pension which is probably about 20,000baht / month. At the moment I could not figure out how combination wrt how much you have to maintain in the bank for seasoning and festering.. The 65.000 pcm figure is likely a lot more than many non-mongering retirees need. 

Isn't the whole point of retiring to Pattaya being able to monger ?

If not I suspect B65,000 wouldn't leave you much disposable income once you've paid your overheads, unless you were happy to live out in the sticks.

I don't think I could budget a retirement in Pattaya for less than B100,000 / month, and would probably need to stay in a few nights as well.

It's probably been asked before, but is anyone willing to share their monthly costs in order to get a more realistic understanding of required budgets.

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6 hours ago, GeeGee said:

Isn't the whole point of retiring to Pattaya being able to monger ?

If not I suspect B65,000 wouldn't leave you much disposable income once you've paid your overheads, unless you were happy to live out in the sticks.

I don't think I could budget a retirement in Pattaya for less than B100,000 / month, and would probably need to stay in a few nights as well.

It's probably been asked before, but is anyone willing to share their monthly costs in order to get a more realistic understanding of required budgets.

Every time this subject comes up, the answer seems to be "how long is a piece of string"?  In other words, it depends.  Some guys on here are married or whatever, and don't go out much.  Their wife does all the shopping and they get by cheap.

Otherwise, it's not hard to come up with a basic no-frills budget that covers only housing, food, utilities and transportation, plus a few incidentals.  

Let's say you weren't trying to be too cheap:

Rent      15,000 baht per month

Food       10,000 per month

Utilities      3,000

Transportation   5,000

Drinking water     1,000??

Phone                  1,000

Internet                 1,000

Clothing               3000

Misc.                    3000

 

That's about 42,000 baht, I think, and doesn't include anything for entertainment.  Let's say you were conservative and spent 5,000 every time you went out and you did that 8 times a month.  

 

So far, we're at 82,000 baht.  

 

For me, spending that little would be a real challenge.  A realistic figure, for me,  would be 120,000 baht per month.  Some people probably spend much more than that.

 

 

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It's the big ticket and occasional items that push the budget up.

For me it is the annual company accounts for the house.

*The monthly spending money to the partner.

Her birthday.

Annual medical insurance.

Car insurance.

The odd trip out of the country, be it back to UK or whatever. 

Bigger monthly hits are the electric bill, the gardener, the pool service, I have spent 32,000+ baht before I draw out money for myself. A night on WS is 5-7000 without BF! 

My budget, lucky if I can keep it below 100k / month these days. Used to be easy.

 

 

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On 2/5/2019 at 6:33 AM, jacko said:

Yes, I believe so for retirement extensions. It just seems to be extra complicated to verify both components. In the past many may have been put off by the requirement to get Embassy letters and Bank letters. This may be the saving route for those with smaller pensions, ie a UK State pension which is probably about 20,000baht / month. At the moment I could not figure out how combination wrt how much you have to maintain in the bank for seasoning and festering.. The 65.000 pcm figure is likely a lot more than many non-mongering retirees need. 

Would it not be possible to transfer the 65,000 per month in for a few months and then start withdrawing some of the excess left (providing you are not spending it all of course) and transferring it back to your home country which is then available to be transferred back later? yes i realise it costs to transfer money but i believe transferwise? or perhaps other companies have reasonable rates for transfers.

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35 minutes ago, ozboy said:

Would it not be possible to transfer the 65,000 per month in for a few months and then start withdrawing some of the excess left (providing you are not spending it all of course) and transferring it back to your home country which is then available to be transferred back later? yes i realise it costs to transfer money but i believe transferwise? or perhaps other companies have reasonable rates for transfers.

Yes, if your bank will permit you to do it, some don't.  Also Transferwise does not work for transfers out of Thailand. 

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4 hours ago, jacko said:

Yes, if your bank will permit you to do it, some don't.  Also Transferwise does not work for transfers out of Thailand. 

 

 

Look to DeeMoney

 

That would serve your purpose

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1 hour ago, Regyai said:

 

 

Look to DeeMoney

 

That would serve your purpose

Well at the moment not my purpose, I only wish to transfer into Thailand.

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Posted (edited)

I hear rumours.....for those Expats who live here using a Retirement Extension, based on money in the bank (800,000 baht). You may recall the requirement changed in March 2019 from 800,000 baht for 3 months prior to the application, (usually proven with copy of from bank book and a bank letter), to then requiring 800k for 2 months prior, followed by 800k for a further 3 month, then it was permitted to withdraw down to 400,000 baht.... but would need to be back up to 800k, 2 months prior to subsequent extension. 

<huh

Jomtiem even imposed a requirement to come back 3 month after the extension renewal ,to confirm you were obeying the requirement.... nowhere else did this, except another couple of north Thailand small IOs.

That above requirement was strange in that it became terms of your current extension, many wondered how this could be checked when effectively, you got the one-year permit to stay, and need not necessarily go back to immigration,  until applying for the next.

I hear Jomtiem is now asking for 12 months of bank statements to see if Expats have complied on Extension applications being made now, and presumably from now on. The statements need to be stamped and issued by the bank. Not sure if a bank book one has kept updated will suffice, which is what I expected and planned for. Fortunately I am not due until November, and I skipped my 3 month, 800k verification as we were slipping into Covid crowding!

I would appreciate feedback from anyone doing a retirement extensions renewal, based on the money in the bank, whether Jomtiem or Nakhon Nowhere.  

Edited by jacko

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Friend of mine lives in a condominium complex and he owns one of the larger one. When we chat the things that he mentions are the corporate body fees, annual company accounts and health costs. He had a bad time recently and the first tranche of payents were over 400,000 baht and getting the money from his insurance isnt that simple as this was an emergency and not a planned hospital stay. There is still the ongoing costs and testing to face up to. Seems to me that whatever your budget you also need a nest egg for those major issues that crop up. 

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Just done my retirement renewal based on 800000 in my bank. Showed them letter from bank and copy of bank book showing the money. Got the renewal ok but was also given the form stating that I have to return in 3 months to show that the money is still there by getting bank book updated.

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The morning that I read Jacko's question I walked passed the agency I use and popped in... "nothing changed" was their reply but because it didn't fit with the question I didn't reply...

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17 hours ago, Bullfrog said:

The morning that I read Jacko's question I walked passed the agency I use and popped in... "nothing changed" was their reply but because it didn't fit with the question I didn't reply...

Likely you fit it in some ways, I am expecting you have an agent arranged retirement extension. I think any further requirements, like having to get 12 months of bank statements, pushes people to do things that way.... something I believe they want to do. 

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Posted (edited)
17 hours ago, sandancer said:

Just done my retirement renewal based on 800000 in my bank. Showed them letter from bank and copy of bank book showing the money. Got the renewal ok but was also given the form stating that I have to return in 3 months to show that the money is still there by getting bank book updated.

The standard bank letter (which they keep) is short and really states little, mainly confirms you have this account and likely the balance on that day. When you say 'copy of bank book', did you have to show 800k had been there for 2 months, or more comprehensibly, that you had funds for the complete year as stipulated? Interesting that they want a 3 month return to prove the 800k untouched.... I am hoping that is all they need. 

I have my bank book sitting on my table to go get it updated.... then it will show the balance has been maintained. 

Edited by jacko

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In reply to Jacko, my bank book showed the money had been there for the year but I think 3 months would have sufficed.

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Is it going to happen down the road that the 800K has to be in the account for the entire year followed by an increase in the 800K minimum?    Say something like 1.5 million?

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1 hour ago, 9cisco999 said:

Is it going to happen down the road that the 800K has to be in the account for the entire year followed by an increase in the 800K minimum?    Say something like 1.5 million?

We don't know that and have no reason to expect it. 

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That is very unlikely in the short term

 

But if you plotted a graph of the historical moving goalposts for these requirements

 

they do only move in one direction - ever upwards

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Like most things, when it comes to money, the driving factor is not how much things cost as how much do you have. I holiday in Pattaya for much less than most because I do not drink ,I do not smoke and my mongering days when in town have dropped a great deal since my first visit 16-17 years ago. Today I pay for accommodation on the hill in  newers condos £275-£300( 1200baht) a month and that includes wifi, with services around 2000 baht. I have a 2 hour massage every other day that costs 200 plus tip 20, I eat in fairly low priced places , not the lowest but  I rarely spend much more than 600 baht a day on food with drink ( pepsi max) A shave every other day 100 + tip 20. I love the quiz nights to be had in many bars around Pattaya and do 5 a week with my average bar bill at 250 baht for pepsi max. I rent a Motorbike for a month at 2500 plus 500 for fuel and  laundry around 1200 baht

 Accommodation   wifi  water power 14000 

cleaning  1000

 Massage 1800

 Shaves 1800

food   18000

 transport 3000

 Laundry  1200( approx)

 That's 41000 baht just for the essentials  that for me include 5 nights out . I go to the cinema and that's cheap , even when I occasionally want a little mongering that is not a great cost either but I don't miss out just because I have a limited budget I do what I want when I want ,its just that I dont have the urge to spend thousands buying drinks for bar girls and their many friends and even had I unlimited resources that is not something I need or want to do. Each person has to do what he wants with his time and money I see no reason to feel underrated just because there are some who enjoy wasting what they have because that is not how I live my life. I am and will continue to be a Cheap Charlie and will have enough to come to Pattaya for many years yet.

 PS I always look for ways to get there more cheaply and always use 1 stop travel so my flight costs are usually less than £ 400  and I have in recent years discovered the bell bus and use  it to get to Pattaya when I can ,depending on the plane times, but always book a taxi to the airport from Pattaya as its just more convenient. 

PPS I know a couple of guys on nothing much more than their pensions , approx 34000 baht a month who live there full time in  fairly basic accommodation who do OK  even if they do not live like kings, its so much better than living in penury back in the UK with it horrible weather 

 

 

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On 5/24/2020 at 2:19 PM, jacko said:

We don't know that and have no reason to expect it. 

 

Of course we don't know it cause that would be in the future.     But seeing as the  authorities can come up with some hair brained ideas, I put very little past them.

They clearly don't give a damn about shooting themselves in the foot.

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15 hours ago, sinbinjack said:

I have in recent years discovered the bell bus and use  it to get to Pattaya when I can ,depending on the plane times, but always book a taxi to the airport from Pattaya as its just more convenient. 

Another way that I started to spend less (apart from flying at the back nowadays) was using National coaches on the UK part of the journey ... same same but different ...

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Posted (edited)
1 hour ago, 9cisco999 said:

 

Of course we don't know it cause that would be in the future.     But seeing as the  authorities can come up with some hair brained ideas, I put very little past them.

They clearly don't give a damn about shooting themselves in the foot.

Totally agree....

If I may generalise ...some people say "rent don't buy" but are happy to keep 800,000 in the bank which ....at a moments notice ...can be locked down or increased  by an edict from an over zealous xenophobe... AT ANY TIME! We are lucky in Pattaya that we have access to alternative methods and I have a tremendous empathy with expats living 2 or more hours drive from an IO and with very few options but to jump through hoops .....Been there done that!

As the thread title says "The screws keep on turning" ........ but at least here they can be greased a little ....

Edited by Bullfrog

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12 hours ago, 9cisco999 said:

 

Of course we don't know it cause that would be in the future.     But seeing as the  authorities can come up with some hair brained ideas, I put very little past them.

They clearly don't give a damn about shooting themselves in the foot.

Well it is unclear to me then why you asked the question. I don't even see it as shooting themselves in the foot were they to consider changes..... The cynic in me says they would like to push more of us into the hands of agents. 

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Not a cynic, just a realist. I know 5 guys who use agents, none of them "legally" qualify. Just follow the money trail from agent to IO! 

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1 hour ago, biggles said:

Not a cynic, just a realist. I know 5 guys who use agents, none of them "legally" qualify. Just follow the money trail from agent to IO! 

I have an OA., That goes away because of the health insurance. I have excellent health insurance but cant prove it because of the form the Thais want. I have more than 65,000 baht/month income but direct deposit has halted with a change in banking laws in the USA I cant prove it  I know about and use transferwise. No guarantee the transfers show as international. So i legally am well qualified  but am pushed to an agent or less likely the Thai elite card. My visa cost go from 3000baht a year to 30,000. I know my choice but do not want the hassle of 800,000 in a bank then proving its still there 3 months later.  The OA was great if you visited your home country every 2 years. No bank, or extensions needed.

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