Don't you need money to live on in Thailand? Can't see how your methodology works. I actually bring in 70k a month. I want to LIVE in Thailand, not EXIST
I live in Thailand. My 11.5% tax free Super Fund helps me enjoy a great standard of living. I bring in 70k a month for money to live on. Why the hell wouldn't I use that to meet the criteria to stay here. Why would I tie up another 800k? Jesus, some people have zero financial acumen
The OP was asking questions about the sensible 65k transfers. You stuck your nose in and advised him to tie up 800k for the rest of his life. If you think it's great financial advice, good for you.
So throwing 92,000 baht into the wind is being a Cheap Charlie? And yet you're the one who cried over Wise transfer fees? Good one. Look, if you're happy tying up 800,000 of your money for the rest of your life, it's your choice, even if it is a dumb one!
The problem with the lump sum is the considerable loss of interest if that money were invested in a much higher rate fund or account. My Australian Super Fund earns around 11.5% tax free per annum. So leaving that 800k in the fund nets me 92,000 baht per annum. I have a government pension which pays monthly in excess of 65k, so it's easier to just transfer the 65k (we need money to live on anyway) and keep my 800k safely in Australia. There's no way I'd commit 800k for the rest of my life to a Thai bank account paying 1% (taxed), and still need to bring in money to live in. For me, it's a no-brainer