I understand the Social Security part now. I read that too. Just a little confused if I transfer other money for living expenses of I wanted to purchase auto etc.
it sounds like 800k is the best way to go. Then wire transfer as need. Set up auto pay on monthly a curing payments. Nothing going into bank that way. Doesn’t show that as income.
what if you have had the 800k in a bank for years and transfer. Already paid tax on it? Do they still double tax? I would show my monthly deposits coming from Social Security Security which will be well above the 65k monthly needed
Depends which country you are coming from. I could be wrong but everything I read is funds from Social Security are not taxed in Thailand if earned in USA. They are taxed there. This is on retirement visa with no other income.
You see all the blogs about how cheap to live I. Thailand. People say they live on $800 US a month. Probably but no better than a poorer Thai person. No one would choose that if they had a choice. I understand many don’t.
I’m glad to read this. I’m hoping 120,000 a month will be enough. Probably wont stay in Bangkok for long once I’m there. Maybe Chiang Mai or Udon Thani for 6 months then Hua Hin or Pattaya for 6 months during burning season. Spend time in different areas to see where I really want to settle down.