HOW TO KEEP FROM GOING BROKE RETIRED OVERSEAS
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- čas přidán 29. 02. 2024
- I talk casually about several factors and tactics I employ to avoid the very unfortunate situations I’ve personally seen other overseas retired men in. It can be easy to get I to trouble when you’re on a fixed income overseas.
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#divorce #marriage #dating #korat #retire #thailand #isan #pattaya #love #pension #culture #speakthai #usa #farang #australia #uk #costofliving
How can I retire in Thailand?, What is the visa process like?, What does it cost to retire in Thailand?, Where are the best places in Thailand?, What Healthcare does Thailand have?, How do I open a bank account in Thailand?, Is it possible to work in Thailand?, What is the process of getting a retirement visa?, How safe is Thailand?, Do Thai women really like older foreign men? Nowhere else can you find this information.
I did everything right, I saved, I planned, I listened to my financial advisors. I have more finacing than I will ever need and can afford whatever I want. I live in Pattaya, I listened to Youtuders about Thailand. I studied the culture. I learned about the Potholes of the women, I can see them coming a mile away now. But, I don't fear them or look down on them. Rather once you understand them, it takes all the fear away and you can enjoy their beauty. What I didn't expect was that I lacked a goal. But, I swear it cannot be work, or a business, I detest those concepts after achieving financing success. I see that your pain has given you a goal, a path, keeps your attention. I don't wish for your pain but I envy that you have a goal and focus.
Wise words. I was just telling a friend over dinner last night that there is definitely a blessing inside my physical issues, it does focus my mind, and it does give me a very obvious amount of goals to pursue.
You can have many goals which aren't work related. Obvious one is to learn the language.
Learn a musical instrument.
Learn...
One, I don't drink and 2 you can't do anything for less than $200 in the states. You can do numerous activities in Thailand for a third to a quarter of the cost in the US. Point is if you go broke in Thailand what makes you think you can survive in the US?
Great up to date talking point so many ppl are beginning to realise these days..
People used to just obsess over "Life Span"..
But really, what's more important..
...... "Health Span"!!
That is the way more important thing to be concerned with in my opinion..
😎👊👊
I asked my girl to make a budget in the beginning. She had absolutely no idea what to do. She had never done one before.
"24/hour pain has focused my mind." 🔥🔥🔥 Statement of the decade.
hello robb from arizona, usa. we need you back in the states to "build the wall", ha. good stuff as usual mr. robb. love your vlogs.
I’ll bring Kun Paa!
I appreciate your directness Robb...good , bad... whatever....no sugar coating...and warnings...etc...
Hey Robb, I just purchased your book on Amazon. I find your incite into Thai culture very thoughtful and analytical. This is coming from a 73 yo American that has been to Thailand a dozen times in the last 19 years. I brought my Thai wife to the US 17 years ago, she was 27 I was 57. We have built a very successful restaurant business together. It turns out we are better business partners than a married couple and the marriage is coming to an end. I am thinking of spending a good deal of my time in Thailand. I am very familiar with Thai culture but I still learn a lot from your videos. Also your health and fitness videos have been helpful since i have started back into a routine. Sorry for the long post.
Very kind of you thanks. Yeah, I wonder how many marriages last when people return to their home country. It definitely gives me pause for concern for doing the same.
Great content! Best of luck to you both!!!
May I add that once I leave Australia for Thailand I have absolutely no intention or interest in going back again, I hate what Australia has become and I absolutely love Thailand and issan.
Retirement 101 in Thailand:
1. Be debt free
2. Conserve capital,live off income
3. Have a budget and include emergency extras .
4. Be in control of finances , don't let her take it over.
5.As you get old your health costs increase but your travel, entertainments and dining out costs decrease due to mobility issues.
6.Medications increase.
7. In conclusion budget reviews and adjustments need to be made periodically.
Some people who have addictions like alcohol , smokes of different kinds and recreational drugs are up against it.
And don't be a butterfly, you should have got that out of your system by your retirement !
Common sense from a sensible guy 👍
I like the dance like a butterfly sting like a bee so I don't let Thailand steal that word, I can say I am a one woman one man type so I get the sweet nectar from only one flower 😊
@@smileoften-ft3hq 555.. You're lucky you love flowers. I like plants . Like planting my feet , one after another. As I move around carefully so I don't fall . My nectar is prune juice, you know why? I thought so . Better than laxatives.
I used to be like Ali, then I got punch drunk, didn't float in time .
Good old days..😉😜
@@consulthaiI have been amazingly blessed with good health allowing me to do gym, walk 10k a day, and eat a good balanced diet although adding 4 prunes a day is a good thing 😅
.... odd you said that. A few times I got wee bit plugged up in Thailand and you would think the spices soups and fresh local fruit of the month would keep everything flowing nicely? Well they give me this little white bottle with a flying rabbit on it and that calms the tummy 😅 and if you talk to the thai they are super sweet and the old ladies will make me special meals for 60 baht or so. Gotta love these people 💕
Butterfly ?
Great advice, but thailand is the best place to be a Butterfly, it's on steroids. This is the place to get it out of your system, you are dramatically taken back to a time when young women are still available to you, whereas in the States or Europe, you are left for dead. No man, who has worked all of his life and done every right thing should be denied that moment in time.
We're the same age, and I'm wrapping my head around age and health. Life changes.
I have grandchildren here in Canada and adult children. I wouldn't mind a Thai wife, but I couldn't do more than 3 months there a year. Good informative vids.
What is that saying ? “ Any idiot can make a fortune. It takes an intelligent person to hold onto it”
Making a fortune is not that easy too 😂but i can understand what u r saying
@@A_Sen_0 Inherited it , win lottery, marry into it, right place right time
You can't go make extra money teaching or sell something as a farang on a retirement visa. Go ask your coffee selling friend for yourself, he/she probably owns minority share of the coffee business and employs Thai people to sell coffee. There is a huge difference between a farang working in Thailand and a farang retired in Thailand. One of them has a work permit and a visa that allows him/her to do whatever job the other is retired, that means they have ceased working, its the definition of retired.
100% good point. Highly recommend getting a work visa before starting anything. Here in Korat they’re easy to get.
@@resetwithrobb work visa or work permit? Its not easy for you to get either one because you are on a retirement visa.
I will use you as the example, you cannot work and you cannot get a work permit, because you are specifically on a visa that does not allow it. So you cannot teach part time or go sell coffee without changing your visa.
What you could do is get a new visa, there are multiple options on that. One "easy" part (which I am guessing what you mean) is getting a teaching job because often the school itself will do the visa for the teacher, but again, this is not a retirement visa, its a completely different visa and you would have to change your visa entirely.
Very difficult to get a work permit if you don’t have an employer here getting it for you like a school or large company. I have one and can tell you the process is draconian and time consuming. I had to switch my retirement visa to a marriage visa - took months just to register our U.S. marriage here. 11 weeks for the U.S. state department to even authenticate our marriage certificate. Then to the Thai embassy in the U.S., then to MOFA in Bangkok and finally to the Amphur. Then you need to get the marriage visa. More time and effort. Then you’ll need a Thai company (we had one already) that has a legal operating business owned 51% by your Thai spouse, hire 2 employees not your wife or family members, at least here in Hua Hin, and pay taxes and have your corp reviewed by the local work permit office. Did it all. Took months but was worth it. Americans can set up an amity company and can own 100%. But as we use ours to also run our rental properties through and own the land the Amity company didn’t buy me much as it still can’t own land.
@@BillonBass so the statement in the video was if you need extra money just teach part time or sell coffee as an example, it doesn't work like that at all, in Korat or anywhere in Thailand on a retirement visa. So you have a ton of experience and you are doing it the correct way, its a lot of effort, there is nothing easy about it.
So @BillonBass what is your take on it, is it possible for Robb or anyone else to get a work permit on a retirement visa? I am saying it is not, at all, it can't be done.
So this is Thailand and it can appear that the rules don't matter, its illegal to burn your crops for example, but rules for farangs and visas are enforced so be careful.
Yes the school will sort it for you , properly and quickly. Or you can change visas, and go from a retirement to a work visa at any time. The Korat immigration police office told me during my last annual visa renewal that I could change to a work visa if I wanted to. That was the officer in charge of their visa programs at that time who told me. Now, there’s been a recent change of leadership there and I cannot say for sure things are still the same or not. I tend to think it hasn’t changed because those programs were doing well at the time. But who can say?
Last thought- this was a fairly new program at the time. Much easier than the old way. Again, I’d be inclined to think they’re still offering this service but I could not swear to it.
In Denmark statepensions are cut in half if you retire in Thailand. Within European Union no cuts. Enoying your videos
Ill be 100% living off my dividends 😊
Intermediary accounts.
- Great advice.
--- If an account is accessed by bad actors, the worst-case scenario is they get a limited amount of funds and not the entire savings.
I can confirm along with many others that absolutely must have a monthly budget and understand that we may deviate from time to time for various unexpected reasons or requests, but you absolutely must have a basement budget to set the tone otherwise request will become more frequent and more expensive overtime locals find the maximum water before it overflows
Great show Robb. Be there soon! (Korat). Can't wait to retire. 15 here today supose to b 60 by Sunday here in Bad Axe. Love and prayers to you and your family. 😊
It would be awesome to have a fellow local Michigander here. Was just talking with a friend and he was saying how there’s just so few quality expats here.
Been going to Korat since 2012. Have a lot of Air Force Buddies in Thailand but I'm the only one that lives in Korat. Sometimes kinda sucks when I'm by myself. I just power through it. Stay cool 😎 my friend.
post for the algorithm. but I do like your financial / banking strategy.
that 75 includes every person that has died even newborns on an averge and its about 10 years off
Good thinking! Live NOW!
Glad I found your channel, love your big fancy house as a middle finger to the haters! I am an expat living in Bangkok. I have been to Korat before, a few years ago.
Basically I left a government run bank. They took down their website and use a phone app only which I do not like. I transferred to another very large bank that has a website and has easy English-speaking phone accessibility. A lot of people I have encountered, which is many, just casually family, church, markets, etc. they always used to ask my girlfriend within the first couple questions, how much does he give you per month. Even people we talk to casually, waitresses, etc. you name it. That is typically the second question out of their mouth. I find it rude and distasteful and none of their business. Very common. Love the culture love the people. Great advice thank you very much. I am not far from you.
I typically act like I don't hear them when they ask stupid nosy questions. Or I'll ask what's their age or how much they weigh. If they're skinny I will say she gets paid more than you. You can't even afford to eat. It just depends on my mood at the time.
Thumbs up 👍 Khun Robb
Money for monthly fun stuff is replaced by the greater expenses for assisted care.
In Australia you can’t get the pension until you’re 67 mate, if I moved to Thailand tomorrow ( I wish I’m only 56 this year) I’d have to return to Australia at 65 and live there for two years until I reached 67 to qualify for the pension.
I would be interested in the overall construction cost alone with any breakdowns that you may have available
Most Western women are not marriage material. Never date the same bargirl twice.
That sounds similar to my “never go back” policy that I learned the hard way in High School. Served me extremely well in life.
It's like the stick with string and bone drip feed them if ask for me tell how it is they will soon back down end of that you must wear the paints in the relationship
Isan Khmer Lao all around
I’m on the Australian aged pension , which is $1070 a fortnight, AUD ,
After 6 weeks overseas, you lose $40 a fortnight , so it’s $2060 AUD a month overseas , it is means testing, but you are allowed considerably assets, before it starts to reduce
Most men are taken by how cold women are in divorce.Its because they actually start planning a divorce 3 years or more before they file for it
life expectancy is 75 but that is an average it includes everybody 1 day old to 100 years old so its not accurate Supposedly if your in good health at 60 expect to live until 85
Thx for the good news. Yeah, I was looking at the 75 number and thinking “really, statistically only 15 more….that sucks”
Interesting how many don't know this. Thinking 75 is life expectancy when you are in your sixties. Surprise, it's not! I correct a post, make a comment when I see this error put out there.
Built like an orangutan? I can identify with that. I was looking over my shoulder into a mirror the other day and I think I’m morphing into a silverback.😱
Robb how do you handle health insurance since they don't accept our senior MediCare there?
There’s many private companies - haven’t really found anything I like all that much so far.
Common mistake : life expectancy is not the same at birth, as at 20, as at 50 etc.... as you have passed the earlier dangers (some countries have high child mortality for example), the expectancy becomes higher ...
So you should say for example :
In the US, life expectancy at 45 yo is .....
The life insurance companies have the statistics
Robb, so I have been living here for a while, a few friends mid to early 50's are looking to retire in Thailand, retiring with their wives , I have been talking to them based on pretty much every married couple that come to Thailand ( western married couples) don't stay married for long when they get here. What is you take ? do you this a (seemingly) happy couple from the west can survive a Thai retirement
I think you can. Unless the wife wants to neglect the husband, which they can almost always get away with I the west. Here, that won’t fly because the man will have so many options.
What should one budget for medical..?
Can you provide some link to your favorite coffee shop?
You can google in Korat, Thailand: bonkers cafe and Cofftail cafe
I can get treated like a king in a assisted living/retirement home or nursing home for much less than back home in Canada. I'll die here before l would go back home. 1 bdrm condo in Ao Nang 11,000 a month.( 2yr contract) Health Ins , 5,000 a month for 5 mil baht coverage. 61yrs old. Food for a month, 8,000. The rest is peanuts if you stay out of bars. Be wise and have fun for much less. And l do have fun.
A canadian here with only 150 days in Thailand and I am looking at Financials. I have bit of trouble on 266 baht a day food getting good nutrient food except when I lived rural. Then require form of travel to put into costs. Medical takes a close look at the thai deductibles and fine print to compare to Canada, however it all is really about if you are in good health. Looked at developing retirement homes in Thailand if it ever comes to that. Looked at exit taxes from Canada if I leave more than 180 days in 12 months as well as loose my widow pension and all my worth becomes liability to Canada tax. When I try to do a real apples to apples comparison in many ways it is of course your life style however I have a great life in Canada on say 75000 baht a month vs 50000 baht a month Thailand if I start adding car, health quality, etc and of course Canada has safety nets for its citizens that Thailand does not ...
Yikes, rambling like Rob 😅 ... point is if you have some saving and financially wise I found either country works so its more a question of what environment you want as each country has wonderful things to offer. At the moment my biggest struggle is thailand heat that thailand meteorology says will reach highs of 45° next few months and to some degree (pardon the pun) overall air quality although it did not seem to bother me. In Thailand I do eat 100 % thai food its just in my case my skin keeps developing rashes I believe from the heat.
So that's the Canadian 70 year old report, now back in Canada 3 weeks and skin returned to normal.
Oh, I live alone Canada and Thailand I included for a thai lady, so costs for two, as I know that will definetly happen there ... the thai women are just too nice and one will twitterpate me 😊
@@smileoften-ft3hq But can'T get a 1 bdrm condo 10 min from the sea for $420 a month. Not in BC or the maritimes. However l do agree about the safety net. Live small and do big things.
@@smileoften-ft3hq Don't buy the cow, just milk it.
@@mikebaker4190 treated like a king in an assisted living/retirement home or nursing home in Thailand? You might want to do your research on those things. Anywhere in the world you get what you pay for. Many nursing homes in Canada have Filipina caregivers who are nice.
Is the property you are building on under any kind of long term (25 year) lease?
I've heard that something of that nature is the best defense an expat has when building on someone else's land.
IMO, yes and no. (1) all my prior exclusions of actually going g to court as a foreigner apply, and (2) you would then also have to prove regular monthly payment of a full and fair rental price, which nobody tends to do.
@@resetwithrobb see this is the kind of info i havent found anywhere else. Thank you
I send bank wire cost me $25 up to 1 million takes about five days though. I have used apps in the past. They want my financial life, history of all my accounts, and I don't think it's any of their business either. Maybe I'm wrong. Quick cash I use XE out of credit card. Then pay it off.
That’s a good deal in that transfer. When I looked at it a couple years ago my US bank charges $43 plus I had a similar fee at Bangkok Bank so it was way too expensive.
Peace of mind, they know me, less hassle for me.@@resetwithrobb I go to the mall on occasion maybe we could meet someday. What do you do for a car? I just rent easier.
How patient are the Thais when you are blocking their passage and they do not beep your ass and are totally situationally unaware our your surroundings to even notice them.
Very. They’ll stand there a while.
Hello. I am an 80 year old Australian. Living in Phuket on the Australian age pension.
Been here ten years. My pension has not been affected at all. That is the arrangement.
If somebody has had their pension reduced. They have buggered up win some way.
Again .. generally the Australian age pension is not affected does not matter where you live.
Don't you have to return to Australia periodically?
One cannot just retire OS on a pension from Aust. A period of time (2 years I think)? must be spent in Aust first. A real hassle when you want to leave and those golden years are ticking away.
@@ideaphile that's not correct, a person has to stay in Australia if you have lived out of the country prior to receiving the pension.
@MrDynasport oh you know what? I remember now. It was something like that. He had to go back to Australia and argue over a couple extra months of residency or something to get one of his pensions back. That was it. Thanks. But another one was cut in half - maybe it was private or a pension from civil service or something. But the poor guy had a lot of difficulty with his pensions
If a person has been living in a country like Thailand, then they are required to remain in Australia for 2 yrs and collect the pension then depart
Your giving a house to your girlfriends family in the hopes that they will let you live in it?
I'm building a small house on my lady's land. It's a gamble but she's honest and a sincere Buddhist, i.e. I trust her. Still, I'm well aware that any relationship can blow up. So I'm not spending any more than I can comfortably afford to lose and walk away with a smile on my face: 'you pay your money and you take your chances'.
Love is wonderful thing...@@ThinkingAddiction
Funny how you see the house for the family as a problem - then 1 minute latter don't see it as a problem. You're as confused as the rest of the world 🙂
Amen.
I am planning to spend around 60/70k per month (without counting medical insurance) living in Khon Kaen with my thai girlfriend
It appears the 75k baht is a common number in talking with other expats. The different lifestyles all seem to over time be about this amount.
@@smileoften-ft3hq thank you for your imput. I was wondering about the 800k bank deposit for visa extension: can I take the money in cash or do I need to do international bank transfer ?
@@giovannirima3391 I have never been asked about how much money I am carrying whilst going thru airport although they do have regulations on maximum. The best exchange I see in Thailand is going personally to Super Rich that you can check online and compare to what your bank exchange will be. I have not studied the new tax laws for 2024 for those that stay over 180 days for tax reporting in Thailand and considered a tax resident in the eyes of Thailand so I would advise you watch a few lawyer youtubes on this. I am just doing the 179 day max a year in thailand so far. so I slip in and out on visas with money easily.
Why would've you left when your girlfriend was having health problems?
She’s clearly not used to receiving any support from her man. I think of the guys she dated before me only one was a really nice guy but he died suddenly. She was quite sad about that for a long time.
What name of the coffee shop thanks rob
I regularly frequent Cofftail and Bonkers Cafe. Bonkers has the absolute best cappuccino and excellent food. Cofftail is bigger and has better than average cappuccino and an excellent Kai-Gataa
I don't know many of there places that's all can you recommend a few more please Rob thanks I know all the good cheap place 😀😜😀 555 pork 80 baht T-bone 180 baht know many places like this
@paulthulborn I’ve been meaning to go to S-Curve cafe but I’m yet go there. And Brick 62 is killer. Everything else so far is pretty- lots of selfie opportunities the Thais love but the coffee isn’t so great
Ok seen dayas on video of your went there food was nice ii know bistro 8 and that's about it up end restaurants
Is that Molly in your intro
You take your girlfriend to a private hospital or a public hospital Everment hospital I have found a preferred private hospital for obvious reasons if they have a foreign boyfriend
Going to a private hospital as part of the status thing in my case ER visit for a UTI cost ฿10,000 in part because the early symptoms were not communicated or treated
😂 Don’t break the 3 day rule.
When we build, Jang wants a really tall wall for our safety. She would be really happy if I could bring my guns with me. That would make me happy also lol.
Can you do a video of when the working girls come back home to Isaan and create drama?
Well, lots of material there. 555. Have you had a bad experience?
@resetwithrobb No Rob, no bad experience. I just remember you bringing that up a while back, and I never knew about it, and it sounds juicy 😋 555
Have witnessed it and heard lots of stories from my wife.
In summary, she spent her best years getting drunk and laid every night and made good money but didn't know how to save it or invest it so when shes burnt out ( eg too old to keep bar girling) she returns back to the village or town, and is now a full blown alcoholic and can't give up the party life so its still party time most days with lots of random men visiting as long as they supply the beer or whiskey, and the drinking starts in the morning and goes all day
There are also gambling problems and many properties are lost to repay gambling debts to the thai mafia who run those illegal businesses
I guess those women are pretty scarred and mentally impacted from all those years of bar girling.
And then there is the village gossip where everyone talks about those women but they are beyond caring by that stage.
Pretty sad but that is the reality of the life journey of a bar girl
@kevhall4802 -yes. I hear these stores and see the ladies they’re about often. I would have thought I’m too remote to see all this- not that it’s an issue for me- but it’s apparently quite common here.
Our Australian government sucks. My wife is Thai Isan too. Nakhon Phanom. My wife can’t get enough of the 100 baht clothing items in Thailand but back home here in Australia she does love some of the name brand clothes to supplement her wardrobe.
Probably a huge treat she never could really think she’d ever see. Totally understandable
@@resetwithrobb Agree mate. She is adorable and cost conscious, by far the best and most family oriented woman I’ve ever met. Married 11 years now. She’s a keeper. I’m a very very lucky man.