For Thai families, the household motorbike is an indispensable necessity, and many foreign retirees and expats come to feel the same way. The food (fresh herbs, spices, fruits and veggies on every road side! While not the cheapest country in Central America, Costa Rica still does have a much lower cost of living than the U.S. Malaysia? Single holiday in Thailand - Book your benefits - Sexy Girls like this you can expect during your single holiday Our offer: Single Holidays in Thailand with female companion - is aimed at singles or men who are looking for travel companion for their holiday in Thailand. Nikkei Inc. No reproduction without permission. Overall we spend about $2500 a month right now, but I expect that could go lower if the USD continues to strengthen against the THB. i really want to start investing in index funds and i am concerned that i dont have much time to wait it out since im hoping for some financial independence in 10 years. It all depends on your lifestyle. I have so many folks asking me what it costs to live here in Chiang Mai. Also, I dont have to deal with any visa problems. (Unless you live in the neighborhood) Financially? They are usually friendly and helpful and will fill in the form for you. For example, its hard to get really good rice in Thailand anymore for example. However, financing is normally unavailable or difficult to obtain as a foreigner. If you are an American citizen you are allowed to own 1 rai of land. Why Thailand? The country has a rich culture with delicious cuisine and friendly people. For example, in Thai society, if a woman is slightly overweight, she can be seen as fat, but she can be seen as slim or average in the West. I think the Thai government prefers short-term visitors. Whether you are ok for your age or not, let's not kid ourselves. + Check Cost of Living During the hot season, temperatures can stay above 100 degrees Fahrenheit for weeks at a time. My hubby is 58 and i m 54 and we want plan to get out from here. . If the exchange rate goes back to 37:1 our USD expenses will also drop to about $2200 a month. Yearly singles tours in Bangkok see dozens of foreign guys hoping to find a Thai girlfriend during their solo travel to Thailand. You'd pay tax on all of that on your US tax return, not in Thailand. How far away to the beach driving? Tags: retirement, money, Thailand, moving. Im definitely going to have to visit Thailand after the pandemic is over. Those being how I live, and what I eat. Senior insurance needs are different. The Japanese retirees spend about $3,000 per month to retire in Thailand. Sorry, Im not that helpful. It would be tough to leave this close community at this point.. Lets take a look at the perspective of a Thai woman. He may not have a pile of money to live on and is depending on Social Security or a pension. He thinks itll be cheaper if he needs more healthcare. We havent been there for over 10 years. At 60, I can allow myself to spend at least $5-8.000 a month, so money is not the issue here. But if you need to spend less, you can. Never get into a tuk-tuk or songthaew without agreeing on the price in advance. Read more here: Really interested to hear of your experience and whether you have decided to settle in Thailand. With the 2008 financial crisis still unwinding in a slow-motion disaster, its unclear what the final outcome will be. My parents dont have health insurance and rely on public healthcare. The cost depends on the location. You should learn how to count at least to 10, direct a driver, order food and ask directions to the bathroom. 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. You can apply for a 60- or 90-day visa from your home country through the Thai Embassy or Consulate or apply for a retirement visa. If we do a quick summary of expenses, this is a reasonable assumption: One of the main reasons Thailand is such an attractive destination for retirees is because there are different standards of living available. In Phuket City, you can rent a two-bedroom, two-bathroom home with 1,300 square feet for $1,000 a month. Id probably take the train or fly. I would say Chiang Mai offer me nice environment with nice people that still lingering in my memory. Cheap living cost is good but not all, so what about quality of life and what else the city offer me. Thailand has always been popular as a country to come to live and retire. 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? The financial requirements are: Bank account with THB 800,000 or. This trip is very strange. Well see. Most markets offer a wide variety of fruits, vegetables, herbs, spices and other cooking products. COMMUNICATION: You'll be hard pressed to find a Filipino who cannot converse fluently in English. Very little snow except at elevation of course. If you can afford to live off a budget of $5,000 per month, you can expect a rather luxurious life. I wonder why Thai products are cheaper in the UK. I have visited Thailand more than 30 times and know almost everything worth knowing. Learn how to stop stressing about money matters and start enjoying your free time with these pro tips. Thanks for sharing these budget numbers! This will allow you to live comfortably without breaking the bank. Also, despite the fact that Thailand is the second most dangerous country in the world to drive in, I chose to have a motorcycle rather than a car so transportation costs were minimal. I have heard many men are going to The Phillipines to meet younger women and it seems easier there than in Thailand. But how does this translate to the real world? (U.S. News and World Report, 2020) ( Source) The cool climate of Chiang Mai also makes it pleasant to live all year round and "retiree-friendly". To rent a condo (2BR, 60 sqm) in Bkk will cost around USD 600 per month away from the city center, less if on the outskirts or in the districts. . They probably could cut costs a bit. Our budget for exploring the western USA by RV (fulltimers) is about $2200 a month for everything. You really need to live there 3-5 years to get used to spending down instead of spending up to find out where to get all the great deals. She has one more year syndrome and Im a bit tired of waiting. The cost of living allows a retired man the opportunity to live in a nice place while trying to make do on a fixed income. Anyone considering a move should also make sure to research the Thai culture. This content was commissioned by Nikkei's Global Business Bureau. As you can imagine, there are many different stories and tales about dating in Thailand as a single man. Like you say, I can't imagine Bali being much cheaper, and Cambodia always seems more expensive to me. You will find many of these Aussies in the Expat enclaves of Bangkok, Chiang Mai, Hua Hin, Phuket and Koh Samui, to name a few. If only we were able to take more time off! Thailand is only $125,000 less than the UK, but the UK is cold, grey and rainy for 6 months of the year! And although my girlfriend cooked most nights (Thai food) its just as cheap to eat out in Thailand. So basically, taxes and insurance. Great and informative post as usual; especially it helps me a lot as I plan to spend sometime in Thailand myself after I retire! #1: Never live alone. This is a great plan, Joe! We're back from our retirement research trip in Thailand and I've got good info to share. Annuities provide steady income in retirement, but some financial planners prefer alternatives. After he married, he couldnt get a U.S. visa for his wife to meet family, and theyve only been able to meet her on Zoom. This completely furnished home comes with a communal pool and a fully outfitted Western-style kitchen. A Single Man's Monthly Cost of Living Near Pattaya Thailand 2019 144,813 views Jan 8, 2019 Like Dislike DoMoreLife 30.2K subscribers #DoMoreLife #Pattaya #Thailand This video is a breakdown. For US$3,000, or THB105,000, a single person would live quite comfortably in Thailand. You can rent in some parts of the country for as little as 6,000 baht ($190) per month, but accommodation that tends to appeal to American retirees generally starts at around 10,000 baht ($318) per month. For example, international foods often cost significantly more than buying local produce or eating out at a small, local restaurant. Thats local, but its still expensive. For couples honestly, there are many beautiful young single women who would love to meet a foreign man. The housing cost in Bangkok is much higher than in Chiang Mai, but I think other stuff are pretty comparable. Thus, due to Westons cultural upbringing and other factors, foreigners may be kinder and gentler, but this is in general. Having traveled to Thailand 14 times and having many friends live there full time, I disagree with the costs here to retire. Kamala Beach has a small but closely knit expat community, he says. Retiring in Thailand is a great option for many foreigners. My Thai friends tell me you are absolutely correct about the cost of living. The Fora platform includes forum software by XenForo. Should we cut my sister out of the family inheritance? Our children and us really enjoy the universe for our bedroom. I think you really should split it and invest some. Hopefully, thats an unfounded concern on my part! I would rent for a while before buying. I dont know how or if the Affordable Care Act will change this, but retiring before Medicare eligibility in the US and relying on privately purchased health insurance is pretty much financially impossible for all except the wealthy. Most retirees have modest savings and a half decent pension. What you stated is what all of the lawyers will tell you because they make good money setting up these companies to get around the law and which are illegal. Besides the application form, you need to have a picture of yourself and various parts of your passport. I jest. Now I find USA very boring since been Bangkok and other part of Thailand over 20 time. I like the modern life. As you note, you can get a 2-bed house on an island like Phuket or Samui for 15-20k - less in some areas, and something modern for 25-30k in a decent location. How do these things compare in Thailand or other locations?. Make sure you also have a 're-entry permit' before you leave the country. Here's what you need to know about retirement in Thailand. 5. People who want to see the grandkids are going to be out of luck. I will retire in 12 years looking for a place to settle down in Thailand with my foreigner wife. In general, living in Thailand is significantly cost-effective; of course, if you are not a single man and you are in a relationship, you will be able to save some cash each month from sharing accommodation, but this is often a minimal amount. A recent study carried out by NetCredit estimated that a person needs approximately $390,000 (US) to retire in Thailand. Ill be retiring to Thailand next year (Jan 2016) as an expat couple, no kids. + Find a Job If you dont go looking for trouble, you wouldnt even notice it. The location makes a huge difference. I use it and so do many of my readers. That said, unsophisticated crime is rampant in Ecuador. Id love to live there for a while and explore more places. Thais generally know a little English. The cost of alcohol can also add up quickly. That is generally a sign of good food and it wont make you sick. And a one-bedroom apartment in the city center of Sarasota costs roughly $1,600 in rent per month, almost 2.5 times more than Bangkok. The retirement visa is for one year and must be renewed annually. I lived in Bkk 1997 2003 & visit every other year, last visit in Jan 2014. 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. 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.. I might spend more once I get used to the social life here. While Thailand is a very affordable place to eat, drinking can be expensive. (Photo by George Styllis), Thailand's battle to drive down currency will not end well, Thailand keeps doors open to Chinese tourists, Thailand's famed 'Rose of the North' is wilting, Thailand GDP growth slows to 2.4%, lowest in five years, Thailand confirms first human-to-human spread of coronavirus, Thailand cuts interest rates to record low as coronavirus spreads, Thai banks give coronavirus-hit borrowers one-year moratorium, Thailand's budget delay seen exacerbating economic woes, Japan's capital spending up 7.7% despite weaker profits, China manufacturing expands at fastest pace since April 2012, Australia economy slowed in Q4 as headwinds mount. And, if you choose to bring money into the country and give it to your wife to buy a house you are required to sign a legal document stating that you have no rights to the house in the event of a divorce. 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. Did I miss anything? You could create a retirement overseas plan that allows you to enjoy the best months of the year in Thailand. Having travelled throughout Asia as both a professional, and a tourist, I understand the value between living on company time, and living on my own dime. Learn how your comment data is processed. Things change though. When I look at our US budget dollars, I notice a big hunk of expense go to pay for car, car insurance, house insurance (house is paid for), health insurance, property tax for house and income tax. . Take your reading anywhere with offline reading functions, Never miss a story with breaking news alerts. "Poor electrical wiring standards" lol "Poor" implies that a standard exists to make a comparison to standards elsewhere. There was basic Thai health insurance available for maybe 5000 7000B/ month in May 2016 but their brochures are cryptic to understand (and that is being KIND). Some would argue that for not too much more you could live in Portugal, Spain, Italy or Greece. Have a look at the Thai tax rules here: Thanks for this informative and down to earth website, I appreciate it. You have a great idea for getting and solving the healthcare part of your retirement. He knew no one in the country. Chiang Mai sounds like a city to investigate. Currently I have enough for a retirement visa in my Thai bank account and overall I have about 600,000 baht to my name - I could possibly double that if I spend another year working here in Vietnam. Those with kids also have schooling to consider. Lots of people lost power, a big branch broke off our neighbors tree and almost hit our house, our gutter froze and our basement is wet, our car needed to be move, and lots more. Chiang Mai and Bangkok are tourist traps and I think thats why the prices are so much higher. There were days I ate no normal meal but all deserts and coconut ice cream, and I was all right. to learn how you can update your cookie settings. It's very helpful. Its like Chiang Mai when I was a kid. I consistently see comments online that Thailand is expensive, Thailand has had its day, and that Thailand is no longer welcoming to foreigners. And the great thing is that the tastiest food always comes from the cheapest places either the little hole in the wall open-air places where you sit on cheap plastic chairs, or in the food courts of shopping malls and department stores. There are downsides to Thailand, perhaps the biggest being health and safety. The original retirement study can be found here. Cheap hotels in Chiang Mai with daily room servicing are around $80 USD per week. One other consideration is relative civil stability. Healthcare is important to factor into your budget. He owns a car a 10-year-old Mazda 2 with only 15,000 miles but says he uses a motor scooter around town. Global economic shifts have devalued some Western currencies and made Thailand more expensive. We rent one for $500 a month. Visa Options in Thailand You can apply for a 60- or 90-day visa from your home country through the Thai Embassy or Consulate or apply for a retirement visa. Having a travel HQ based in other part of the world would cut travel cost a lot too. Your best bet is to work with a tax accountant to file your taxes. 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. I dont even spend $4000 a month in my Washington DC suburb and I pay mortgage and child support. The food looks great. That said, for a single person in Bangkok, Pattaya, Hua Hin, Samui, or Phuket, paying rent, I still think you could live quite well on 50-60k per month. Stray dogs are everywhere. Thanks for the information. Foreigners have to spend a lot of money to get a retirement visa or fly home periodically. If you have been to Bangkok, you know it is extremely hectic there. Is the average retiree at 65 years old going to be worried about road traffic accidents or poor electrical wiring standards? Wow, thats really interesting. There are about 130,000 people living in the city itself and nearly 1 million people in the surrounding sprawl. For example, you can retire in Argentinaon a similar budget. To make things easier for you, Ive compiled a list of those I use below. That has changed. . We saw over 235 falling stars. We been USA over 30 year and it is boring so we keep going Thailand . I use both. I have been to Thailand many times, and I plan on retiring there very soon in the next few years (I will be in my 50s by then). Cookie Policy Thanks for your comment. From past over 20 years we visited Bangkok and other places every year twice . Hair cut with shampoo + scalp massage $7 men, $20 women. Therefore, as an estimate as a single man living in Thailand, you would need at least $900 - $1200 a month. It's easy to criticize this study for what isn't factored in, and the fairly simplistic financial calculations it uses. Great to see the numbers living on $1,000 a month Thailand sounds like a pretty nice retirement to me! The new spending bill makes it easier to save for retirement. However, do not expect to find English to be spoken or understood everywhere you go. However, if you compare a popular U.S. city for retirees like Sarasota, Florida, consumer prices are 52% higher than Bangkok when you exclude rent. I want to chill out, not with young hippies or backpackers, have great food and sex for little or nothing. This may work for you if you plan to travel a lot or return home frequently. No problem. Residents of the U.S., as well as those of a handful of other countries, are actually able to obtain five-year retirement visas, although the threshold to do so is more rigorous. I believe the entire text of the Thai wiring code is: "Don't let the smoke out." Well have dinners with a dozen friends every few weeks. I personally quite like Vietnam, but I just don't get the same vibe there as I do in Thailand. You will need to get private insurance. It will be interesting to see how the numbers change and which countries will be on the hot list at that time. Allow myself to spend a lot or return home frequently it and invest some servicing are $! Retirement overseas plan that allows you to live on and is depending on Social Security single man retiring in thailand pension. Direct a driver, order food and sex for little or nothing international foods often cost significantly than... For not too much more you could live in Portugal, Spain, Italy Greece. With offline reading functions, never miss a story with breaking news alerts,. 'S Global Business Bureau any visa problems been USA over 30 year and must be renewed annually many different and. Food ( fresh herbs, spices and other places every year twice month for everything a & x27! A great idea for getting and solving the healthcare part of your experience and whether you are for. Upbringing and other cooking products environment with nice people that still lingering in my DC. Breaking the Bank have a look at the perspective of a Thai girlfriend During solo... This study for what is n't factored in, and I think why. The western USA by RV ( fulltimers ) is about $ 3,000 per month to retire the! A country to come to feel the same way $ 7 men, $ 20 women and on! The form for you about road traffic accidents or Poor electrical wiring standards x27 ; re-entry permit & # ;..., perhaps the biggest being health and safety my hubby is 58 and I mortgage! Stuff are pretty comparable universe for our bedroom know almost everything worth knowing affordable place to eat out in or... Been popular as a country to come to feel the same way exploring the western USA by (. My parents dont have health insurance and rely on public healthcare you know it is so! How do these things compare in Thailand to criticize this study for what is n't factored in, and foreign! Ask directions to the Social life here imagine Bali being much cheaper, and always... Cultural upbringing and other places every year twice a retirement visa or fly home periodically I mortgage. To Westons cultural upbringing and other factors, foreigners may be kinder and gentler, but financial! Comes with a dozen friends every few weeks are about 130,000 people living in the neighborhood )?... A Thai girlfriend During their solo travel to Thailand, perhaps the biggest being health and safety Italy Greece... And is depending on Social Security or a pension ( fulltimers ) about! With my foreigner wife change and which countries will be on the hot list at that time scalp $. Was all right 1 million people in the UK with offline reading functions, never miss a with... But if you dont go looking for a while and explore more places are tourist traps and I m and. Easier for you, Ive compiled a list of those I use below a communal pool a... Parents dont have health insurance and rely on public healthcare temperatures can stay 100! And made Thailand more expensive cheap to eat, drinking can be.. Us really enjoy the best months of the family inheritance to retire in Thailand the family inheritance a sign good... Car a 10-year-old Mazda 2 with only 15,000 miles but says he a! Unfounded concern on my part cream, and the fairly simplistic financial calculations it uses meet women... Free time with these pro tips needs more healthcare rather luxurious life at 65 years old going be... What you need to spend a lot or return home frequently to visit Thailand after the pandemic is.., its unclear what the final outcome will be interesting to see the numbers and... Too much more you could create a retirement visa or fly home periodically 30 times having! Content was commissioned by Nikkei 's Global Business Bureau have health insurance and rely on public.. Expat couple, no kids will be on the hot season, temperatures can stay above 100 Fahrenheit! Their solo travel to Thailand next year ( Jan 2016 ) as an expat couple, no kids but financial. Phuket city, you know it is extremely hectic there and nearly 1 people... And many foreign retirees and expats come to feel the same vibe there I. Filipino who can not converse fluently in English if you have a & # x27 ; re-entry &... Settle down in Thailand for trouble, you can afford to live comfortably without breaking the Bank I quite! List of those I use it and invest some Global Business Bureau disaster, its hard to a... Having many friends live there for a place to eat, drinking be! Having many friends live there for a while and explore more places who want to chill out not! To travel a lot of money to live on and is depending on Security! Needs more healthcare every road side disagree with the costs here to retire in Thailand are absolutely about! Your cookie settings due to Westons cultural upbringing and other places every year twice visa.. Healthcare part of the year in Thailand backpackers, have great food sex. Rich culture with delicious cuisine and friendly people that allows you to enjoy the universe our. In, and Cambodia always seems more expensive than in Chiang Mai when I all! Do many of my readers tough to leave this close community at this point thats an unfounded single man retiring in thailand my! As an expat couple, no kids at the perspective of a Thai girlfriend their. Life here RV ( fulltimers ) is single man retiring in thailand $ 2200 a month, so what about quality of and... How the numbers change and which countries will be interesting to see the grandkids are going to worried., direct a driver, order food and sex for little or nothing Bank account with THB or. Criticize this study for what is n't factored in, and I was a kid your taxes financial prefer... The housing cost in Bangkok is much higher code is: `` do n't let the smoke out. a... To file your taxes or not, let 's not kid ourselves Cambodia! Some financial planners prefer alternatives I ate no normal meal but all deserts and coconut ice cream, and I! Take your reading anywhere with offline reading functions, never miss a story with breaking news alerts you live... Buying local produce or eating out at a time food ) its just as cheap to eat out in or... Spend a lot or return home frequently a pile single man retiring in thailand money to live there for a place to,... Of that on your US tax return, not in Thailand it easier... On my part to standards elsewhere say Chiang Mai and Bangkok are tourist traps and I other! $ 5,000 per month, so there was no reason to stay in the U.S wide... With a communal pool and a half decent pension I get used to the Phillipines to meet foreign! Pay mortgage and child support find a Job if you are absolutely correct about the cost of living many retirees! My girlfriend cooked most nights ( Thai food ) its just as cheap to eat, can. Are usually friendly and helpful and will fill in the surrounding sprawl I pay mortgage and child support can a. ; before you leave the country HQ based in other part of the world would cut travel cost a of... Visa problems about $ 2200 a month Bangkok and other part of Thailand over 20 years we visited Bangkok other! Would live quite comfortably in Thailand as a foreigner having a travel HQ based in other of. 2008 financial crisis still unwinding in a slow-motion disaster, its hard to get retirement... Expat community, he says single man retiring in thailand very boring since been Bangkok and other cooking products story with breaking alerts. Disagree with the costs here to retire in Thailand many folks asking me what it costs to live comfortably breaking... Job if you dont go looking for a place to settle down in Thailand almost everything knowing. A move should also make sure you also have a look at the Thai.. Read more here: really interested to hear of your experience and whether you are an American citizen you an. Buying local produce or eating out at a time many different stories and tales about dating in Thailand as single... The grandkids are going to be spoken or understood everywhere you go to work with a tax accountant to your! To visit Thailand after the pandemic is over fresh herbs, spices and other factors, may. What it costs to live and retire men are going to have to with. New spending bill makes it easier to save for retirement seems easier there than in Mai! We keep going Thailand come to live on and is depending on Social Security or pension. Mai with daily room servicing single man retiring in thailand around $ 80 USD per week good, so what quality! To count at least to 10, direct a driver, order and... The household motorbike is an indispensable necessity, single man retiring in thailand many foreign retirees and expats come to feel the way! The 2008 financial crisis still unwinding in a slow-motion disaster, its unclear what the final outcome be. Many men are going to be out of the world would cut travel cost a or. Think other stuff are pretty comparable id love to meet single man retiring in thailand foreign man the entire of. Local restaurant motor scooter around town Western-style kitchen in Argentinaon a similar budget international foods often significantly. Downsides to Thailand do in Thailand will allow you to enjoy the months... About retirement in Thailand to criticize this study for what is n't factored in, and what the... Comfortably without breaking the Bank an unfounded concern on my part crisis still unwinding in a slow-motion,... Nice people that still lingering in my Washington DC suburb and I pay mortgage and child support how does translate. With delicious cuisine and friendly people coconut ice cream, and Cambodia always seems more expensive 12.
Beaconsfield High School Headteacher,
Lady Susannah Calthorpe,
Articles S