@Steve ******
if you're both foreigners then each of you will need 800,000 in a Thai bank account in your own name only.
You could also do a trailing spouse visa but you must apply for the non-O retirement visa from a Thai embassy in your home country and your wife would also apply for the non-O trailing spouse visa at the same time. Then your wife would not require any proof of funds. But you have to do it before you travel to Thailand since you cannot convert to a trailing spouse non-O in Thailand nor can you apply for this visa from any Thai embassy in SE Asia.