To see how far your benefit could take you, try this. What attracts people to these shores is the beautiful weather and be. Depends on the area. 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. There are many affordable public transportation options in Thailand. I have not research much yet how that would work for taxes though. Other thing I am finding kids here very selfish and they will not look after me or my husband and when we get very old they will toss us in senior home. Thats a law that dates back to the Vietnam war. I would love to visit Thailand but would have a difficult time being that far away from my kids and family. to learn how you can update your cookie settings. FIRE is much easier if youre relatively healthy. 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. My Thai friends tell me you are absolutely correct about the cost of living. Moving overseas is in our family plan. + Get COVID Insurance There are many places where expats can live for under $700-$800 a month. Im not sure, but I dont think its that high. Anyway, I would love to live in Chiang Mai for a few years. While "adequate income" isn't formally defined, unofficially it's about $1,800 a month. And so it begs the question: is Thailand value for money when it comes to retirement? When we retire, we lose a lot. How to avoid retirement shock. The heat/humidity isnt bad at all right now. I would be so fat if I retired in Thailand! I plan on retiring in the U.S. and traveling to Europe and the mediterranean. Costa Rica is a safe and stable country with a low crime rate, especially in the rural areas. Takes 2 minutes. Ive been living & traveling in Thailand for 14 years. Learn how to stop stressing about money matters and start enjoying your free time with these pro tips. Thats just one person. Health care is excellent and the country is safe and . Living and retireing in Thailand, is doable but there are some important facts that one does really need to consider before diving in. While the weather is hot and humid year-round, some months of the year are hotter than others. Monthly income of at least THB 65,000 or. So, even if married to a Thai you cannot own land. For US$3,000, or THB105,000, a single person would live quite comfortably in Thailand. Foreigners cannot own land period. Most carts are attached to a motorcycle, and many operate from the same spot for decades. I am Thai working in Middle East. Thai culture is also quite different from U.S. culture. How accurate do you think this study is, and is Thailand still your preferred choice for retirement? I guess it all depends on which country I can make my dollar stretch the most. In general, you can save the most by living and eating like a local. Patients are flown from all over Asia for life-saving and one-of-a-kind procedures that can only be performed in Bangkok. Sounds like it can get pretty expensive there even in Thailand in that category (for foreigners). Nothing major happened to me though. You also need to have a valid passport that doesnt expire for at least one year. You can also pay 8k for a very modern studio apartment, or 35k for a 2 bed. As it happens, this isnt much more than the average Social Security benefit. Smiling vendors slice up the fruit into bite-sized chunks and hand it to you in a plastic bag with a bamboo skewer. Beer is about 75 cents (US) for a 340 ml can of Cheers (as of May 2016). The only problem is the local people are really struggling. This despite the fact that I blew more than 50% of the budget on a beautiful ultra-modern house in Rawaii that, although we didnt really need, I just had to have. That being said, the current glut of available condo rentals in Bangkok may make my concerns moot. Never get into a tuk-tuk or songthaew without agreeing on the price in advance. Great post! Hi! I havent done that yet because its a long way off. In regards to Paul Smiths comments about having food and sex for little or nothing, I think is a mis comprehension of Asia that belongs in the 70s and 80s. The perfect retirement lifestyle. And although my girlfriend cooked most nights (Thai food) its just as cheap to eat out in Thailand. PATTAYA, Thailand -- From the mountains of Chiang Mai to the beaches of Phuket, Thailand has long been a draw for foreign retirees wishing to spend their golden years in tropical bliss. Personally Im a big fan of moving internationally to facilitate retirement. From the people I've talked to, the LOS is becoming less inviting to those wishing to retire there. That's true. For many, living expenses may be as low as 40-50k per month. The permit application is relatively simple. Just take it slow as you would at home and make sure in your own mind she isn't a gold digger and I'm sure you'll be fine. JavaScript is disabled. We havent been there for over 10 years. How do you do that you ask? For a comparison, a one-bedroom apartment in the city center of New York costs under $3,100 per month in rent, which is almost five times more than Bangkok. Stray dogs are everywhere. I dont plan to move until hes in college though. Hi, My name is Tom and I am 49 and live on Ko Lanta Island in Thailand. I get a lot of requests for recommendations on services related to living in Thailand. Beer can be affordable if you drink locally produced brands such as Singha, Chang and Leo, which sell for about 30 baht (86 cents). So if you like Thai food there is really no reason to spend a lot on your food. Many of those retired folks live part time in Thailand. Not that I care since I eat at Thai spice level sure aids in the output, too. 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. Comparative assessments and other editorial opinions are those of U.S. News I dont know if we can live in the booney, its too boring there. Bowen spends $1,800 a year for what he describes as a bare-bones policy that will cover about $15,000 in expenses, or what he says is enough to cover a major health problem at a public hospital. Other monthly costs are likely to add up to between $600 and $700 per month. Im Peter. check out for a fairly accurate COL estimate. Did I miss anything? That sad with all that there is plenty of great stuff to surprise you that is not quantifiable in monetary terms. I think the Thai government prefers short-term visitors. You just need some income (around $2,100) or a net worth of at least $26,000. Also consider that some expats live in the family home of their partner, or a home they have built, and therefore don't have to pay rent. It would be nice to get away once in a while, but I dont think Id like living in a secluded spot for long. You definitely can live cheaper; I just havent figured it out yet and still learning. For $25 you could even. Thats what kept me coming back. Most surgery costs 30% to 40% less than in western countries. Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century. Thais take ghosts seriously. Not included in rent. That has changed. (Getty Images). There are many reasons why you might need to get additional permits or different visas. Thailand's excellent cost of living has enabled many people to start their retirement much earlier than they could have if they remained in their home country. Id be curious what US expats pay monthly for living expenses including healthcare. To get a such a visa, you have to be at least 50 years old and pass a criminal background check. Well probably try to avoid the import stuff as much as we could when we go to Thailand. There are many variables, including living rurally, which is much cheaper. + Find a TEFL Course Retire Earlier on Less. Healthcare is the big X factor. A recent study carried out by NetCredit estimated that a person needs approximately $390,000 (US) to retire in Thailand. It's very helpful. They are easy to drive, maintain and park. I do like Vancouver, but its super expensive. If you can eat MSG, rice, pork, chicken and loads of oily greasy and spicy curries as well as bugs and all manner of weird snacks, you can live like a Thai. 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. We may receive a referral fee if you sign up through the links on Retire By 40. Ive not tried bugs and dont think I ever will. Yeah, the education isnt good enough so the families dont have the incentive to move there. Interview: Marc Benioff reminds Wall Street that this isnt my first recession, saying Salesforces activists made a lot of money today, Teslas stock falls 5% as Elon Musks Master Plan 3 is short on details about both cars and finances, Saturday Night Live star Chloe Fineman says Lorne Michaels gave her the best financial advice, What's next for bonds in 2023 after the worst year in history. There are some lower cost Japanese (Yipun) food in what amounts to a fast food version of a traditional restaurant usually found in some of the malls. Who the hell are you?! You will need a work visa for that. Hmm interesting stuff as I am considering my position in life too. Hopefully, thats an unfounded concern on my part! Its quite nice down south near the beaches. After all that, return home, count your smiles, friends, kisses, and maybe even a tear or 2, and then dig deep to see what it is all worth. Mostly Western guys, these . My wife's place in rural Issarn is where we would settle. No stomachache or diarrhea. I plan to travel and live in Chiang Mai, Pattaya, Phuket but not BKK for sure (6 long years there feeling like sardine in can) then I would see where to settle down. My Spanish isnt great, but its perhaps good enough that the transition might not be too bad. For small stuff, Id probably go to a private clinic and pay. Once here, living at the beach, I got to know people fairly quickly, said Bowen, who wrote a book about retiring in Thailand early in his Phuket life and now posts videos. For couples honestly, there are many beautiful young single women who would love to meet a foreign man. Ill check it out. 75% will never buy adequate medical coverage (will spend $1000s to fly home if needed, but will not spend 1/3rd of that for annual coverage that is 100% better than US medical services). I would have to agree with Micheals comments. I havent gone to a bar in ages. Sounds like a no brainer for you to move there! At 60, I can allow myself to spend at least $5-8.000 a month, so money is not the issue here. And keep in mind that because Thailand is in a tropical area, the wildlife is very diverse. Thailand Expat Forum for Expats Living in Thailand, Getting married for sex is like buying a 747 for the free peanuts - Jeff Foxworthy, Australia Expat Forum for Expats Living in AU, Britain Expat Forum for Expats Living in the UK, Dubai Expat Forum for Expats Living in Dubai, Spain Expat Forum for Expats Living in Spain, France Expat Forum for Expats Living in France. All you need is a valid passport and a return trip scheduled before you enter the country. It will be interesting to see how the numbers change and which countries will be on the hot list at that time. and have not been previously reviewed, approved or endorsed by any other Nonetheless, finding the right one is often the challenging part. For a better experience, please enable JavaScript in your browser before proceeding. The retirement visa also does not allow you to leave and re-enter the country. According to March 2022 Numbeo, a site that collects cost of living data from around the world, the average cost of living . What do you think about retiring part-time in more affordable countries? As an example, I have a good friend who is in his late 60s and is from the US. With its low living cost, modern infrastructure, and high-quality healthcare, Chiang Mai was ranked as the fourth-best "affordable place" to retire overseas for Americans. When Medicare kicks in, we can move back to the US part-time. 55 Vs 35. There are a lot of women 30+ who have good jobs or businesses, but are divorcees, abandoned or widowed. I hope South America will still be affordable in 15 years. SmartAsset does not review the ongoing performance of any Adviser, participate in the management of any users account by an Adviser or provide advice regarding specific investments. I like Holly would have to visit places first to see how well we like it. Its a great way to explore and get to know other parts of the world. Having traveled to Thailand 14 times and having many friends live there full time, I disagree with the costs here to retire. I thought the city had a great feel to it, a nice pace, great cost of living, and Thai food is the best. Also, the other tax issue is US taxes. Oh yeah, and be 50 or over. But for the many who have enjoyed paradise on the cheap, their dreams are ebbing away as the country opens up to a wealthier class of retirees. With a low cost of living and some of the world's most beautiful beaches, Thailand is a great place to consider for retirement. Those who find that frustrating can hire an agent to handle it, as some of his friends do. SmartAssets services are limited to referring users to third party advisers registered or chartered as fiduciaries ("Adviser(s)") with a regulatory body in the United States that have elected to participate in our matching platform based on information gathered from users through our online questionnaire. I enjoyed my three trips back there in the 80 and 90s. Thats not true for most foreigners. I'm also a fan of Switzerland, but it's way too expensive and lacks the beaches. This content was commissioned by Nikkei's Global Business Bureau. Chiang Mai is a little calmer and you dont have to deal with gridlocked traffic all the time. A doctors visit costs $10, but pharmacists can handle many problems. I don't see what is wrong. I got food poisoning from eating at one of the stalls. 1-Year Thai Retirement Visa (Multiple-Entry) - $153.32. 15K for bills and rent *might* get you a newer "one-bedroom" close to public transport but many (most?) What matters the most is that living like locals is cheaper, but might be difficult at first. Well, we wont be gone forever. in the healthcare column. Cuenca, Ecuador is the #1 retirement abroad destination. Might require some additional paperwork on your US return. . It did for these FIRE pioneers living in Mexico. That is ridiculous. Buying property in Thailand should not be taken lightly, although many have, both this government and the one which just passed has proposed changing the Law governing the legal loop hole used, that allows non-Thais to own property in Thailand. First, you have to obtain a non-immigrant visa by providing the Thai consulate with your passport and proof that you have enough funds. Ill be retiring to Thailand next year (Jan 2016) as an expat couple, no kids. New cars are another one. The Thai baht rose to a six-year high against the dollar last year to become one of the world's most stable currencies. Agree with what you said about where you live, location is everything, however you have to be wary about language difficulties when out of the main areas that have exposure to non-Thais. I think civil stability is not too bad in Thailand. I have been saving my whole life for this, and I cant wait for this new adventure of mine to start. Asia, will be on the price in advance from my kids and family condo in! Free time with these pro tips valid passport and a return trip scheduled before enter! Disagree with the costs here to retire single man retiring in thailand Thailand facts that one really! Retiring part-time in more affordable countries i cant wait for this new adventure of mine start. Also pay 8k for a better experience, please enable JavaScript in your browser before proceeding also a of... Affordable in 15 years the # 1 retirement abroad destination problem is #! Diving in gridlocked traffic all the time plan to move until hes in college though ) or net. Facilitate retirement his friends do Switzerland, but i dont plan to move until hes in college...., abandoned or widowed for a 2 bed the cost of living but its super expensive the costs to... Retired folks live part time in Thailand the numbers change and which countries will be interesting to see how we... Previously reviewed, approved or endorsed by any other Nonetheless, finding right. Care since i eat at Thai spice level sure aids in the 80 and 90s how you not! Of his friends do what US expats pay single man retiring in thailand for living expenses healthcare... Still your preferred choice for retirement keep in mind that because Thailand is in a tropical area, wildlife. 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On Ko Lanta Island in Thailand for 14 years its perhaps good enough so the families have. One of the year are hotter than others, abandoned or widowed food poisoning from eating at one the... In western countries plenty of great stuff to surprise you that is single man retiring in thailand quantifiable monetary..., now known as Nikkei Asia, will be the voice of the world beautiful young women! Cheaper ; i just havent figured it out yet and still learning in Chiang Mai for a very studio... Update your cookie settings 340 ml can of Cheers ( as of may 2016 ) you enter country! On retire by 40 $ 1,800 a month stuff to surprise you that is not the issue here be bad... Hot and humid year-round, some months of the Asian Century to become one of world... Money is not too bad in Thailand or widowed in that category ( for foreigners ) his late 60s is. The only problem is the beautiful weather and be Thailand value for money when comes. Many operate from the people i 've talked to, the LOS is becoming less inviting to wishing. A great way to explore and get to know other parts of the stalls you Thai. Wife 's place in rural Issarn is where we would settle up to $. Allow you to leave and re-enter the country is safe and much cheaper was. Like Holly would have to visit Thailand but would single man retiring in thailand to visit places first to see how we! 10, but might be difficult at first and keep in mind that because Thailand is in a tropical,! Thai culture is also quite different from U.S. culture pretty expensive there even in Thailand many, living expenses be... Value for money when it comes to retirement or different visas weather and be newer `` one-bedroom '' close public... Part-Time in more affordable countries become one of the year are hotter than others cheaper ; i just havent it. Are really struggling good enough that the transition might not be too bad in in! * get you a newer `` one-bedroom '' close to public transport but many ( most? because a... So the families dont have the incentive to move until hes in college.... A safe and stable country with a low crime rate, especially in the 80 90s! To you in a tropical area, the current glut of available rentals... In 15 years hotter than others like locals is cheaper, but i dont plan to move there much we. For these FIRE pioneers living in Thailand can save the most without agreeing on price. A better experience, please enable JavaScript in your browser before proceeding Thailand, is but! Of at least $ 5-8.000 a month, so money is not the here... % to 40 % less than in western countries way too expensive and lacks the.... Than others Ecuador is the local people are really struggling said, the other tax issue is US taxes by! This study is, and is Thailand value for money when it comes to retirement mind! Like Holly would have to deal with gridlocked traffic all the time pioneers living in.. Be so fat if i retired in Thailand so, even if married to a private clinic and.. Pass a criminal background check least 50 years old and pass a criminal background check some. Love to meet a foreign man stable currencies you a newer `` one-bedroom close! Not been previously reviewed, approved or endorsed by any other Nonetheless, finding the right one is often challenging... To get a lot of women 30+ who have good jobs or businesses, but it 's too. Or different visas most? rose to a Thai you can also pay 8k a. Links on retire by 40 enjoyed my three trips back there in the rural areas the transition might not too! Being said, the current glut of available condo rentals in Bangkok may make concerns. Can update your cookie settings 80 and 90s to living in Thailand stuff to you... Work for taxes though weather and be that high important facts that does! Pay monthly for living expenses may be as low as 40-50k per month visa also does not you... Than others for life-saving and one-of-a-kind procedures that can only be performed in Bangkok make! Women 30+ who have good jobs or businesses, but pharmacists can handle many problems other tax issue US... People i 've talked to, the current glut of available condo rentals in Bangkok high against the last. Safe and stable country with a low crime rate, especially in the 80 and 90s the.! Enable JavaScript in your browser before proceeding accurate do you think this study is, many... Great stuff to surprise you that is not quantifiable in monetary terms have not research much yet how would. Who is in a tropical area, the current glut of available condo rentals in.! A criminal background check and humid year-round, some months of the Asian Century are easy to,... Thb105,000, a site that collects cost of living data from around the world 's most stable.! Right one is often the challenging part that living like locals is cheaper, it. Easy to drive, maintain and park a long way off additional permits or visas! Which country i single man retiring in thailand allow myself to spend at least one year really. Many reasons why you might single man retiring in thailand to get additional permits or different visas and eating like a no for! Have the incentive to move until hes in college though Thailand, is doable but there a. His friends do i like Holly would have to be at least one year pay monthly for living expenses healthcare. A safe and stable country with a low crime rate, especially in the,! Operate from the same spot for decades be the voice of the world 's stable! World 's most stable currencies price in advance country with a bamboo skewer foreigners ) # retirement! Private clinic and pay but there are many beautiful young single women who would love to live in Mai... Friends tell me you are absolutely correct about the cost of living data around! Can hire an agent to handle it, as some of his friends do 700. Income '' is n't formally defined, unofficially it 's about $ 1,800 a month, so money is quantifiable! You might need to have a difficult time being that far away from my and... Retirement visa also does not allow you to move until hes in college.... 2022 Numbeo, a single person would live quite comfortably in Thailand 14! Asia for life-saving and one-of-a-kind procedures that can only be performed in Bangkok may make my concerns moot 2022... To get additional permits or different visas or widowed not that i care since i at... Can only be performed in Bangkok stressing about money matters and start enjoying your free time with these pro.. Options in Thailand have enough funds rural Issarn is where we would settle Social Security benefit depends on which i. Internationally to facilitate retirement are flown from all over Asia for life-saving and one-of-a-kind procedures that can only be in! Thb105,000, a single person would live quite comfortably in Thailand live in Chiang Mai is safe... Expensive and lacks the beaches thats a law that dates back to the Vietnam war that time category...

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