Im very curious what the education options would be for your child especially if this happens in high school or if you want to be close by for college? From BKK u can travel around and it is really fun . Main thing attract me is very good maid and I and my husband getting old do not want to keep working in the house. on this page is accurate as of the posting date; however, some of our partner offers may have expired. All the lessons cost some money. During the hot season, temperatures can stay above 100 degrees Fahrenheit for weeks at a time. My dad rents several condos to Japanese retirees. Hi Great site and very informative Im 57 have worked for over 39 years in govt and have been thialand many times I have had a marriage break up and lost my home able to keep my super I have had a gut full of my work recently due to a new boss need to get out I want to use my super and move to Chang Mia I will not be able to acces my pension for 10 years could I live with 6 million baht till then I have a thia girlfriend and need to buy condo so confused hope you can help Thanks Robert. I speak Thai, have families here, and Im a Thai citizen. I'm also a fan of Switzerland, but it's way too expensive and lacks the beaches. Its a long way off though so there might be a lot of changes by then. The lifestyle also makes a big difference. In Thailand they START AT 7 and go to maybe 15. The Fora platform includes forum software by XenForo. A very valid comment. Enjoy! For the sake of argument, let's say that the interest earned is in line with inflation, and that the spending power remains the same over 14 years. I would like to live there for 4-5 years and explore that part of the world. Ill check it out. Thailand has very high road traffic accident levels and, depending on where you're living, pollution can also pose a hazard to your health. Very little snow except at elevation of course. And so it begs the question: is Thailand value for money when it comes to retirement? The lady is getting a nice man with more baht who does not cheat on her and I get a younger woman. thailand live . We could get by on less than $1,000 per month in Texas if not for taxes and insurance. My Thai friends tell me you are absolutely correct about the cost of living. I have two kids. The government requires that you have income of 65,000 baht deposited in a Thai bank every month; thats less than $2,200 at early 2021 exchange rates). a basic single occupancy room starts at about $1,300 per month for long term occupancy (12 month contract). All Rights Reserved. Im very curious to find out because we are planning to live in Chiang Mai for a few years after Mrs. RB40 retires. Heck, if it was for family and friends, Id probably want to leave NYC right now for a lower cost of living location. Make a friend, a local that is. Retired military at 31? Im sorry, but Im not familiar enough with the city anymore. Keep in mind that there are also other affordable, international destinations where you can spend your retirement. Driving to Southern Thailand would take a couple of days. How do you do that you ask? And when they want to travel in Asia, Phukets status as a tourism mecca means theres no shortage of flights for less than $100. It's really inexpensive to do and will make sure you have something to retire with. In addition, those with a Thai partner may be at an advantage in navigating potential problems and risks. The cost of living in the capital city of Malaysia, Kuala Lumpur is fairly high. Beer is about 75 cents (US) for a 340 ml can of Cheers (as of May 2016). Many Thai women are interested in foreigners for love, fun, or both. To see how far your benefit could take you, try this. If you still have assets and family back home, that 13-hour trip (for me) gets increasingly tiresome with age, particularly dealing with the jetlag. A part-time career could mean a stressful future if you don't use some of these tips to prepare for retirement. Hahaha! As low cost countries continue to attract ex-pats, I just hope there will be somewhere affordable for us to move to. Place we could use the money we are saving to travel a lot more. Golf $30-$60 depending on the golf course. If you arent comfortable being around these types of critters, make sure you research Thailand a bit before moving. THB30,000 on a multiple-bedroom condo (in one of the prime real estate areas along Sukhumvit or Silom) and utilities. The cheapest country to retire in is Pakistan: $182,018. If you plan to travel, even just to visit home, anytime in your first year of residence, you will need to apply for a re-entry permit. Basically it comes down to a couple main factors: 1. I want the whole experience. Im envious that you can easily choose to live there. Buying a Condo: 9 Questions Before You Decide, 8. However, if you decide to invest in a car of your own, you'll find that vehicles are reasonably priced in Thailand, as many are assembled here. Try one thing at a time until you acclimate to the local food. A bit cooler than Portland, but quite similar climate overall. I live in a large city, but have always fantasized about retiring to more relaxed, cheaper places. One should also note that few people have this much cash in savings. I have a friend who lives in Thailand in a beach house with 2 other people, he said the cost of expenses are barely $500 for all 3 of them, and this includes food and lodging. Is the average retiree at 65 years old going to be worried about road traffic accidents or poor electrical wiring standards? Share a table. Those with kids also have schooling to consider. For many, living expenses may be as low as 40-50k per month. Lucky me I recently found your blog by chance (stumbleupon). Having a travel HQ based in other part of the world would cut travel cost a lot too. It really depends on you. It really depends on the accommodation. , Thai food is based on RICE and everything else is gup khao (with rice) Meat is mostly chicken, pork or fish (fish is a generic for seafood) I have seen only a FEW Thai people who WE would consider fat. I am Thai working in Middle East. Thais take ghosts seriously. Thats local, but its still expensive. Yearly singles tours in Bangkok see dozens of foreign guys hoping to find a Thai girlfriend during their solo travel to Thailand. And keep in mind that because Thailand is in a tropical area, the wildlife is very diverse. For example, $700 for groceries and $500 for eating out (i.e. If you live on a budget at home, adopt the same budget in your chosen home, Eat as you would, dance as you should, and sleep in like everyday is a Sunday. We rent one for $500 a month. If he had to rent, itll probably be closer to $2,000. He met his Thai wife, Oorathai, better known as Puy, while she was having a cup of coffee. As it happens, this isnt much more than the average Social Security benefit. She has one more year syndrome and Im a bit tired of waiting. People who want to see the grandkids are going to be out of luck. Local Thai markets are usually open-air establishments either in a static location or recurring at a set place and time weekly. Your best bet is to work with a tax accountant to file your taxes. Many foreign restaurant owners offer by-the-glass wine promotions to attract diners. The financial requirements are: Bank account with THB 800,000 or. The cost of living is low, as is the cost of healthcare. Thai culture is also quite different from U.S. culture. Several years ago I wrote a post about living abroad on less than $3000 a month. I dont plan to move until hes in college though. Many local Thais can live on this budget in the north, but naturally, some locals are restricted due to this low amount. Upon signing you'll typically hand over the first and last month's rent, plus a security deposit of one month. Health insurance is still a big question here. 10 reasons why not to retire to thailand retire 2. There were some riots and coups, but they generally leave foreigners alone. But Im biased, because we did it. Chiang Mai and Bangkok are tourist traps and I think thats why the prices are so much higher. Required fields are marked *. But I think 70k a good monthly amount to aim for if you are considering retirement in Thailand. The housing cost in Bangkok is much higher than in Chiang Mai, but I think other stuff are pretty comparable. This leads us to todays question of what it is like to be a single man living in Thailand? lifestyle as a single man living in Thailand. Kindly break down your monthly budget and how many people it supports. Foreigners can own property in Thailand with restrictions. Hed been to Thailand before and knew he wanted to live by the beach, not in a big city like Bangkok. Spotting oversights in your retirement plan early can lead to years of financial stability. Sorry, you'll have to zoom in on the image to see the country names. Must admit my expenses are a lot more. And then there's expats eating for 100 Baht a day and staying in a 4k a month condo. Whether you need life insurance, pension planning or other investment advice, I can connect you with my personal IFA. The study covered most countries of the world, with the goal of estimating the cost of retirement based on the equivalent quality of life you'd enjoy back home. It doesn't take into account a forecast for inflation, or interest earned on savings. The weather is sunny and hot, and there are plenty of beaches to kick back on. Subscribe to our daily newsletter to get investing advice, rankings and stock market news. If you're looking to stretch your retirement budget as far as you can and are up for an exotic adventure, consider retirement in Thailand. But is it a good fit for retirement? A, Thailand is an affordable travel destination, and a budget of $1,500 each month is enough for many people to live comfortably. From when to retire to how much to save, here are expert-backed answers to crucial retirement questions. IF you can stand being a little more spartan, you could try somewhere in ISSAN (thats NORTHEAST THAILAND) for an even lower cost. An average Australian table wine that would cost about $8 in the United States is $27 in Thailand. Couples should have a strong relationship to last here.. Retiring in Thailand sounds amazing, but I would just like to visit there to start. The perfect retirement lifestyle. A typical Social Security payment is likely to cover basic costs in these areas. If you wish to retire in Thailand, you will need to need to get a retirement visa, also known as a Non-Immigrant Long Stay Visa. She stole many things from his house, including valuable jewelry and even cash. For 20k you will get a decent worktop area and a couple of hobs, plus a fridge space. Some would argue that for not too much more you could live in Portugal, Spain, Italy or Greece. - irresponsible but honest thoughts. Your family partners can attend in Thailand. Some people will accept an average condo and reduce their rent, while others will keep eating out expenses low to live in a more modern, spacious dwelling. 1. The average cost of healthcareis still lower than in the U.S., but costs can add up if you need regular medications or medical attention. Even with the insurgency in the far south? Its up to her. My mom, in particular, doesnt like to spend money at all and lives a simple lifestyle. Joe, youd like the west coast and Vancouver Island. What is wrong with that? Single Man Living In Thailand: Many travelers decide to live and retire permanently in Thailand, but why? Just eating out. It's a little more complicated - read more here -. November . The food looks great. My thoughts are turning to retirement however, I would still like to work as I am fit and healthy. Cheap living cost is good but not all, so what about quality of life and what else the city offer me. Hello, again. It will be a very easy transition for me. Visit beforehand. That has changed. Well probably try to avoid the import stuff as much as we could when we go to Thailand. Health professionals here are trained all over the world, including Germany, France, Switzerland and the United States. in the healthcare column. One week trip to the beach $300. It is free to get started & easy to use. It took six months to decide that Kamala Beach, a two-traffic-light town, was the right spot. Nearly 12 years later, he says his life in a beach town on the western side of Thailands Phuket Island is living in paradise., Bowen, now 70 years old, admits his decision to sell his house and all his belongings in just three months, after being laid off from his job in the Bay Area in 2009, was somewhat impulsive. From past over 20 years we visited Bangkok and other places every year twice . I averaged about $15 a night for a nice mid level hotel and around $8 a day for food in Chiang Mai ( about 1.50 breakfast / lunch and $5 dinners ). I think civil stability is not too bad in Thailand. BKK is so busy. So basically, taxes and insurance. I did not have any problems eating at local food stalls. In the beginning stages of dating in Thailand, you will often encounter many red or green flags from the investigation. The research was based on the following lifestyle for 1 person: They have hundreds of video and audio lessons to help you start speaking Thai today. People were friendlier he keeps mentioning the smiles hed get and he appreciated the countrys live and let live attitude. And of course theres the weather temperatures in the 80s in February, T-shirts and shorts every day. Lastly, you will need to meet certain financial requirements. Think to remember no matter how much you love eating Thai food or food that you were not brought up on, you will still crave food from your homeland. My hubby is 58 and i m 54 and we want plan to get out from here. The permit application is relatively simple. Once this money has been in the account for 60 days you can apply for a 1-year extension of stay based on retirement at a local immigration office. Imported liquor is about 50% more than what I would pay in the US IF I COULD STILL DRINK (interferes with my meds), I am generally there during the wet season, so room prices are lower. Kamala Beach has a small but closely knit expat community, he says. And if you don't spend that much, it's more to leave your kids :). Did you ask me to buy you a coffee? Accommodation in Chiang Mai can cost as little as 2500 Baht or 75 USD per month for a hotel like room with attached bathroom. Well have dinners with a dozen friends every few weeks. I like the modern life. I plan to live comfortably on USD 2,000 per month, and set aside some money every month for medical expenses rather than pay an insurance premium. Spicy salads such as som tum (papaya salad) can be made to order for 30 baht (95 cents). The climate is tropical. Perhaps when medicare kicks in so I dont have to worry about medical cost as much. Pad Thai (Thai style Fried Noodles) Som Tum (Spicy Green Papaya Salad) Thai Noodle Soup Cost of Retiring in Phuket For a retired couple, you can living really well for $2500-$2800 per month. Heres what to consider before moving to Thailand for retirement. Either way, the amount required is still the same. A health savings account is a beneficial tool for retirement planning. Thailand does seem very affordable and buying places and renting them out to others would be a nice income stream. I wont be wealthy, but I wont be worrying about where the next dollar will come even if I dont work another day in my life. This is not an offer to buy or sell any security or interest. If only we were able to take more time off! About a week ago we had a meteor shower. This amount covers most areas, but if you are situated in Phuket or Bangkok, a single man would need at least $1200 or more. The research was based on the following lifestyle for 1 person: The cost was calculated over 14 years: retiring at 64 and with a life expectancy of 78.7 years. Great article. He also figured his job prospects werent very good, so there was no reason to stay in the U.S. I decided to throw the dice.. However, the culture shock of living in Thailand can be significant for Americans. I would say Chiang Mai offer me nice environment with nice people that still lingering in my memory. You can follow her on Twitter @SilviaAscarelli. George Town, Malaysia. We have a home in Singapore that is fully paid and recently went through a lot of restoration. There are also snakes, monitor lizards and mongooses. Nice article. Smiling vendors slice up the fruit into bite-sized chunks and hand it to you in a plastic bag with a bamboo skewer. Some may have savings and just a state pension. Leo had 2 cataract operations last year. It would be nice to get away once in a while, but I dont think Id like living in a secluded spot for long. But it only works in favour of Thai goods being exported!!! Thailand is one of the best places for Australians to retire overseas and you won't be alone, there are already a massive number of Australian Expats living in Thailand. You could top up your contributions now and you're allowed to backpay for 6 years. An important point that you mention is the cost of medical care in Thailand. So looking forward to becoming vagabonds on the road for enjoyment as we truly love al areas in SEA. Why dont you just rent? I think the Thai government prefers short-term visitors. That is generally a sign of good food and it wont make you sick. Healthcare is the big X factor. Tinder and other popular dating applications are booming in Thailand! I have been thinking about retiring in Thailand as the cost of living is lower than that of my home country Malaysia. 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