Hello, less from Thailand. Today's video is going to be about those people who are coming in to retire to Thailand. I'm going to give you some useful information so you don't lose a lot of money which has happened to the people who have retired over the past year. This is using the 800,000-bar method with the Guadrob turning visa. I would say don't do this method or at least at the present don't do this method. For those people I use the 800,000-bar method into their bank account in Thailand to get their visa. They've lost a lot of money over the past year and I'm going to give you some figures and show you why that has happened. Okay before anybody mentions it, yes it is just a paypal loss but a paypal loss might not ever recover from what you've lost in the past year. Now the reason why I've done this video is because the volatility at the minute of the Thai bar. Now I know a lot about the volatility of the Thai bar because when Brexit happened I went from getting 50 baht to the pound down to at its lowest 36 baht to the pound so that's an awful lot of money to lose every month with regard to the volatility of the Thai bar. Now at the minute the Thai bar is plummeting and there's a lot of economical situations going on with regard to the Thai bar. The economy is crashing because of this situation. The expats are going down so there's many many factors what's regarding to the Thai bar and its strength. It's gone from one of the best currencies performance in the Southeast Asia to the worst at the minute. So this is some examples as to how much money these people have lost if they went through the 800,000 bar method with regard to getting their retirement visa. So I've done a breakdown and I'll put the figures up here. So for instance we'll look at the exchange rate one year ago. So one year ago it was to the pound 39.65 euro 3566 US dollars 2980 and Australian dollars 2185. So a year ago your 800,000 baht would have cost you in pounds 20,176 euro's 22,434 US dollars 26,845 and Australian dollars 36,613 dollars. So again this year as of August 2021 and this is the figures as of today. So the pound now is 46.16 The euro is 39.12 US dollars 3337 Australian dollars 2451. So your 800,000 baht if you were using your had an income to put the 800,000 baht in the bank at this present month that would cost you £17,331 euro 20,449 US dollars 23,973 and Australian dollars 32,639. So the people that did this method over a year ago this is how much you've lost in the currency exchange. Yes I know it's a payable loss only and you would only lose really that amount of money if you wanted to take that amount of money out of present. I do realise that but who knows what's going on at present and I'll come on a little bit further about that as far as your money being guaranteed in your bank account. So the coverage and insurance that you get for the money that you've got in your bank account is dropped as from the 11th of August. You are now only insured for one million baht. So for those people who are any more than one million baht in the bank and the bank goes bust you only get one million baht. So that's quite shocking really. So for those people with 5,6,7,10 million in the bank move it around to different banks because different banks have got coverage up to one million. Leaving it all in one bank at the minute with what's going on and the economy. So at the collapsing who knows what's going to happen but you're only insured for one million baht and if you are using that 800,000 baht method you're very close to that one million baht. So only think over and above that you stand to lose if the banks go. So I'm getting back to the payable loss. How much have people lost in value of that 800,000 baht in the past year? Well the tell you for the pound if you invested your 800,000 baht a year ago you are now down 2845 pounds. And in euros same thing, invested 800,000 baht you are down 1,985 euros from this time last year. And the US dollars, $2,872 down from this time last year. Australian dollars, $3,974. So as you can see a lot of money. No matter how good the interest rates are you'll never ever going to recoup that money back in the Thai bank system. You just don't get that much income by interest on the money that you invest in Thailand and it's tied up for a year. Especially when there's other ways of doing it. Again I'll put a link up there. I've done a a recycled method where if you live on less than 65,000 baht a year you can recycle the money. So therefore I'm not needing 800,000 baht in the bank. If you have an income of over 65,000 baht on pension wise then you still you don't need the 800,000 baht in the bank. So why risk that amount of money going into a bank at this time in this situation what's going on in Thailand where the Thai bank is on a downward momentum. So for instance if it goes up to 50 baht now fingers crossed I hope it does go back up to 50 baht. So again back to the main reason of this video is to warn those people the likelihood of you if you put the 800,000 baht into a bank account yes it makes getting a visa so so much easier. Getting an agent to do an agent isn't expensive. The initial cost to get it set up by an agent is about 30,000 baht. And then every year after that is between 18 and 20,000 baht to get it renewed. It's far cheaper than losing like I say nearly 3000 pounds, nearly 2000 euros, nearly 3000 US dollars and nearly 4000 Australian dollars in putting the 800,000 baht into a bank that's tied up for five months of the year. And then you can't go below the 400,000 baht. Thai government want everybody to put the 800,000 baht into the bank account because it's free money for them. It's they can use your money to make investments or whatever and you'll get a pittance of an interest rate with regard to doing that. So when they're a better easier way of getting your retirement visa by showing them monthly income I'd suggest to do it. So as far as visa is concerned I hope this video was good for you. I hope you learnt from something from it. Look at all the options with regard to getting your retirement visa and the ways you can get it without losing too much money. So from Les, retire and live in the dream till the next video. Bye for now.