Living in Phuket
My husband and I have lived and worked here legally for more than five years and we love it. It all depends on the type of lifestyle you want as to whether you have enough money or not. If you want to eat Western food every night then it may be tricky but of course most of us are here because we love the local Thai food which is great and inexpensive. Likewise with accommodation.
If you are bringing kids with you then check out the website Phuket 4 Kids which is a great site for expat families.
Hope this helps!