Thailand IR1/CR1 & DFC questions

[Picard 0]

Hello everyone,

Just trying to organize my thoughts about some options I have. Done some research on this forum and other sites but thought I would run a few things here on a post to get some feedback.

I will be going to Thailand probably in September and do a legal wedding there. My wife and I will do a CR1 visa. K1 is not an option we want to do at this time.

I am working on a contract right now that will end soon. I have 2 options. First is to stay in the US and find a job, meaning I would go to thailand for a couple of weeks for the marriage and go back to file the paperwork for the CR1. With that option I would have no problem meeting the financial demands on the affidavit of support.

Second would be to just fly there and teach English with a plan to get residency and do a DFC in Bangkok. With a BA and TEFL certification I imagine I could get a job that pays 30,000 baht a month, unless I'm mistaken? Anyone here have experience teaching English in Thailand? Anyone feel like bursting my bubble on the salary or is that amount fair?

With that salary, give an take a baht on the exchange rate, I would make $12,000 for the year. I am thinking that I should be able to save about 10,000 a month no problem since my wife and I will have no rent to pay. So about $4000.

If I have the correct numbers, for 2 people, 125% of the poverty line in 2011 is $18,388. I will be short $6388.

Assets have to be 3 times that much, so $19,164.

I should be able to count that $4000 in savings at a Thai bank account as part of my assets, right? Then I have some in savings in the states, and a Roth IRA. Can I count the Roth IRA? (unlike a 401K that would have large penalties to withdraw the funds)

With all that I should have just enough to cover that missing amount. What do you guys think? Did I miss anything important that would change the equation?

I have some other questions but I'll ask on separate topics so I don't make everyone read a novel on this page.

thanks in advance everyone

[Done--Really 331]

Here is good link for ESL jobs--I just took a quick look at salaries in a couple of Thailand jobs--one was well below your target and one a little above, so looks like it might be possible.

http://www.eslcafe.com/joblist/

[Done--Really 331]

As to your Roth IRA, it's not as simple as you might think--read this. The bottom line is that there will be a haircut to the value of your Roth to account for taxes and penalties, if any. Assume the worse when you are doing the estimate based on your own situation.

http://www.fool.com/money/allaboutiras/allaboutiras07.htm

[Ning 619]

Hello everyone,

Just trying to organize my thoughts about some options I have. Done some research on this forum and other sites but thought I would run a few things here on a post to get some feedback.

I will be going to Thailand probably in September and do a legal wedding there. My wife and I will do a CR1 visa. K1 is not an option we want to do at this time.

I am working on a contract right now that will end soon. I have 2 options. First is to stay in the US and find a job, meaning I would go to thailand for a couple of weeks for the marriage and go back to file the paperwork for the CR1. With that option I would have no problem meeting the financial demands on the affidavit of support.

Second would be to just fly there and teach English with a plan to get residency and do a DFC in Bangkok. With a BA and TEFL certification I imagine I could get a job that pays 30,000 baht a month, unless I'm mistaken? Anyone here have experience teaching English in Thailand? Anyone feel like bursting my bubble on the salary or is that amount fair?

With that salary, give an take a baht on the exchange rate, I would make $12,000 for the year. I am thinking that I should be able to save about 10,000 a month no problem since my wife and I will have no rent to pay. So about $4000.

If I have the correct numbers, for 2 people, 125% of the poverty line in 2011 is $18,388. I will be short $6388.

Assets have to be 3 times that much, so $19,164.

I should be able to count that $4000 in savings at a Thai bank account as part of my assets, right? Then I have some in savings in the states, and a Roth IRA. Can I count the Roth IRA? (unlike a 401K that would have large penalties to withdraw the funds)

With all that I should have just enough to cover that missing amount. What do you guys think? Did I miss anything important that would change the equation?

I have some other questions but I'll ask on separate topics so I don't make everyone read a novel on this page.

thanks in advance everyone

The visa will be approved based in part on your earning ability in the USA. You should consider finding a co sponsor to ensure success.

Only liquid assets are considered.