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800,000 Baht is a big sum of money.
But you need to have it to retire in Thailand. And at the time of this writing, 800,000 THB is equivalent to:
So how does this work?
Applying for the visa in your home country, you can prove those funds and income are in your local account wheever you are.
But if you are applying for the visa in Thailand, you have to open a bank account in Thailand and transfer the funds there.
In either case, to renew the visa each year, you do need to show the funds sitting in an account at the time of renewal.
There are other requirements, but those are fairly minor or procedural and should pose no problems.