The native English speakers tend to be Australian or English, not American. Glad you found the website. As you can imagine, there are many different stories and tales about dating in Thailand as a single man. And almost 100% will never take the effort to learn the language of their adopted home!!! As for food, beef is expensive but seafood is reasonable. It will be great to visit South American for a couple of years. Moving overseas is in our family plan. 1-Year Thai Retirement Visa (Multiple-Entry) - $153.32. Now, he says, he and wife generally spend three months during Thailands rainy season traveling in Europe (COVID times being an exception). Americans are living longer than ever, and that creates some challenges for retirees. Sign up to receive new articles via email. + Learn Basic Thai if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[250,250],'filipinowealth_com-box-4','ezslot_7',165,'0','0'])};__ez_fad_position('div-gpt-ad-filipinowealth_com-box-4-0');Therefore its often wise to add a few hundred dollars on top of what you think you will need if you plan to move to Thailand. Joe. Bumrungrad International Hospital hosts a million medical tourists per year. Here are some reasons why I want to live in Chiang Mai for a few years. Is the average retiree at 65 years old going to be worried about road traffic accidents or poor electrical wiring standards? Hey Everyone, Im in Chiang Mai and it is great here. So if you like Thai food there is really no reason to spend a lot on your food. However, since the exchange rate has tightened up and the covid 19 pandemic, how has that effected retirees living in Thailand? 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. 5. Personally Im a big fan of moving internationally to facilitate retirement. This estimate often only includes the basic living expenses and does not consist of extras such as sending money back home, Netflix subscription, etc. This is much less than our current expense of about $4,800/month here in the US. Several years ago I wrote a post about living abroad on less than $3000 a month. Thailand has very high road traffic accident levels and, depending on where you're living, pollution can also pose a hazard to your health. Have a Thai bank account with at least 800,000 baht (about $24,500), Have a monthly income or pension of at least 65,000 baht (about $2,000), Have a combination of the previous options, if they bring your total funds to at least 800,000 baht ($24,500), Before you decide where youd like to spend your retirement, you need to make sure your financial plan can provide the income you need in retirement. One-Time Checkup with a Financial Advisor, 7 Mistakes You'll Make When Hiring a Financial Advisor, Take This Free Quiz to Get Matched With Qualified Financial Advisors, Compare Up to 3 Financial Advisors Near You. The myth that Thai girls love us partly because they don't like Thai men is just that - a myth. Is this because you are feeling guilty that you decided to stop working and she is still working. Not included in rent. Otherwise, just move to Florida. The financial requirements are: Bank account with THB 800,000 or. Tinder and other popular dating applications are booming in Thailand! A cursory search shows that even the most open countries, such as Ecuador, Panama, and Mexico, seem to limit long term stays to 180 daysat least in terms of convenient applications or process. I buy local medical insurance for us both, and still save for an escape plan if needed. They are usually friendly and helpful and will fill in the form for you. (Unless you live in the neighborhood) Financially? It should be fun for a few years though especially if you have money to spend. The cheapest country to retire in is Pakistan: $182,018. I always think 'wonder how long I could last on x amount?' I like reading about geo-arbitrage even if it isnt a place that Im likely to move to though the $10 massage is convincing. There are four steps to acquiring a visa to retire in Thailand. All Rights Reserved. You can follow her on Twitter @SilviaAscarelli. If you can afford to live off a budget of $5,000 per month, you can expect a rather luxurious life. The grocery and restaurant cost seems a bit high, even comparing with US standards. Im definitely going to have to visit Thailand after the pandemic is over. My wife an I are on the other side of 40.I retired last year but got pulled back into a job which might take a year or so to manage a computer transformation at a local plant. 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. Most surgery costs 30% to 40% less than in western countries. Whats your interest rate on the student loans? 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). These types of houses stay cool based on a design that allows cross breezes along the ceiling. Thais hold special ceremonies after the death of a loved one, as no one wants ghosts to remain at home. It can take a long time to be good at investing and the earlier you start the better. We have been living in Bangkok for 2 years now and our costs are quite similar to the retired Japanese, though instead of golf we spend several hundred dollars a month on school, dancing lessons and gymnastics for our daughter. There are many types of insects, including mosquitoes, many types of ants and cockroaches (that can fly). Please let me know why i m thinking is correct? My dad just got a 1 bedroom for about 1.5m. Its landlocked though right? 2023 Retire by 40 We moved long before retirement, but now were settled, have a network for friends, and ready to ease into retirement when the time comes. Then you have to be able to speak Thai to not pay an inflated price here and there. I dont know if we can live in the booney, its too boring there. Health insurance is still a big question here. of those are not designed for the same living/cooking/entertainment/working standard most retirees would be accustomed to. We saw over 235 falling stars. Nikkei Inc. No reproduction without permission. 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. Many Thai women are interested in foreigners for love, fun, or both. I dont plan to move until hes in college though. Thais generally know a little English. That is renting a furnished home that will allow friends to visit. The most expensive country in the world to retire in is Bermuda: $1,065,697. The kid can go to an international school, but it would be quite expensive. Copyright 2022 Filipino Wealth FilipinoWealth.com. Now that IBM is changing to exchange medical options for retirees. JavaScript is disabled. Sorry to hear that! Did I miss anything? Glad you are finding it useful. I guess my tastes must be more on the simple side! He relies on football and basketball internet packages for his U.S. sports fix. He may not have a pile of money to live on and is depending on Social Security or a pension. Oh and if you drink you will have to be happy drinking the awful mass produced beer (Heineken is one of the worst). Spotting oversights in your retirement plan early can lead to years of financial stability. First of all, its worth noting that citizens of the U.S. and much of Europe do not need a visa in order to visit Thailand. His advice? FIRE is much easier if youre relatively healthy. They probably could cut costs a bit. Therefore, as an estimate as a single man living in Thailand, you would need at least $900 - $1200 a month. https://www.buymeacoffee.com/thethailandlife, https://www.thethailandlife.com/uk-pension-guide-thailand, https://www.thethailandlife.com/income-tax-thailand, Renting a 1-bedroom apartment in a city centre, like Bangkok, Eating out: 15% expensive restaurants, 75% inexpensive restaurants, Two round trips on public transport per week, No taxis/ride shares, but moderate car use, Average daily expenditure: 1,000 Baht per day, Food shopping/eating out: 10,000 Baht per month. Get a 90-day single entry Non Immigrant O Visa from your local Thai embassy. The city also gets over 10 million visitors in 2019 so they are used to foreigners. As to condo ownership the total ownership by farang cannot exceed 50% but if you own it, they wont force you to move if thru some quirk (a bit of tea money can work wonders) the farang ownership % exceeds 50% I spend about 3 months/year in 6 week segments 6 months apart in Thailand generally in Pattaya and traveling to Chanthaburi every other weekend and have a pretty good command of pa-sa Thai even if only 4000 words. Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century. All the lessons cost some money. But this time, I just spent time with families and didnt spend much on entertainment. , Thanks for the great article! They spend a lot more money than retirees. 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 information. There is no public health insurance for expatriates in Thailand. It doesn't take into account a forecast for inflation, or interest earned on savings. They have hundreds of video and audio lessons to help you start speaking Thai today. Mrs. RB40 reported that they had record snowfall in Portland and all kinds of problems followed. Although I do love Thailand, lets get real, the only reason I am considering retiring there later this year is because I feel I will not have enough money to retire on the California coast. Good luck to finding somebody who is nice for you. 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. Also, we do not eat at home..ever. 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. In Manila, it would cost me around $3000 a month even though I own my own two bedroom flat in Makati City(very expensive area, like Asok or Thonglor in Bangkok), because all the surrounding restaurants are expensive and so are the nice grocery stores. Thais take ghosts seriously. I still have families there though so maybe we could get some tips from them. For example, when we arrived 2 1/2 years ago the exchange rate was 37:1 but now it is 32:1 (and was as low as 28.5:1 a few months back). Theyve been married for eight years. The point is we never felt poor or like we were scraping by. Put your thumb in the pie, your finger in your eye, and spend a night looking at the sky. SmartAsset Advisors, LLC ("SmartAsset"), a wholly owned subsidiary of Financial Insight Technology, is registered with the U.S. Securities and Exchange Commission as an investment adviser. I have been saving my whole life for this, and I cant wait for this new adventure of mine to start. Im here to give you all the information you need to make your Thai adventure safe, happy, & successful. $3,400 per month is approximately the pay out for 100% VA disability. 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. Buying monthly bus and train passes. 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. Education is pretty limited. Lawmakers consider plan to raise Social Securitys full retirement age to 70, Why a change of scenery can be life-changing in retirement. According to March 2022 Numbeo, a site that collects cost of living data from around the world, the average cost of living in Thailand is roughly 40% lower than the average cost of living in the U.S. No problem. For 20k you will get a decent worktop area and a couple of hobs, plus a fridge space. I like the modern life. Im dual. You just sweat it all off. 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. There are many affordable public transportation options in Thailand. We rent one for $500 a month. BKK is so busy. For many, living expenses may be as low as 40-50k per month. No, I dont feel guilty. I usually ignore this type of research because seldom is it accurate. I have many friends that have gone to Thailand and loved it. I have not research much yet how that would work for taxes though. Here are a few of the common costs: Retiring in Phuket: Bottom Line I own property in ireland which i rent out and pay tax on profits. There are expats who dine in silly-priced restaurants, buy a German car at twice the price you'd get one for in Europe, rent a condo on Wireless Road for 80k+ a month, and fly first class. Only downside for me is that I find the heat/humidity a bit testing. We are thinking about buying Apartment at Sukhamvit . I LIVE IN Thailand and I must say I am quite impressed with your cost of living figures, have lived in Thailand since 2003 now. nice write up i might do it by 40 but i am 51 now and looking into it when i turn 57 and i probably live south near phuket and enjoy the beach but my first 2 years i plan to buy a street glide if harley still makes them i know the cost twice as much but i want to ride through Laos Cambodia, Vietnam and Malaysia and of course Thailand, i know i have to keep a residence there in order to stay there to retire, and obtain a multiple entry visa to do that, If you could email me back Id greatly appreciate it Im 31 years old and Im retired military so I make about 34 hundred a month I do have a lot of medical needs more or less I need for scriptions for things such as pain high blood pressure stuff like that are those medications readily available or do you have to get them through a doctor like for instance my blood pressure medication and my pain medication in Mexico I could go to the corner and purchase them at the local pharmacy in Thailand what I have to go to a doctors office get the prescription to get them filled or are there local pharmacies. He visited other spots, he says, but he kept coming back to Thailand. Costa Rica is a safe and stable country with a low crime rate, especially in the rural areas. A rotisserie roast chicken costs just 140 baht ($4.50). Things change though. Your family partners can attend in Thailand. According to March 2022 Numbeo, a site that collects cost of living data from around the world, the average cost of living . Ill be retiring to Thailand next year (Jan 2016) as an expat couple, no kids. Its possible to do this in Thailand or at a consulate in your home country. Driving to Southern Thailand would take a couple of days. Cheap hotels in Chiang Mai with daily room servicing are around $80 USD per week. Once we get tired of SE Asia, then we can move to South America for a few years. Actually, I dont know that much about Chiang Mai. I could live a pretty comfortable lifestyle here for about $1,600/month or maybe even less. Great idea to use it as a base for exploring Asia. No problem. Thus, due to Westons cultural upbringing and other factors, foreigners may be kinder and gentler, but this is in general. Nothing is free. Good private schools are expensive here, and that's where the balance is likely to tip in favor of living back home. Thanks for sharing these budget numbers! I have a studio condo 150 meters from a MRT station on the purple line (Bangkok side, not Nonthaburi), pay utilities, water, internet, cell phone (x2), food (x2, and a mix of street food and mid-level restaurants), groceries for 2, car insurance, gasoline, clothes, shoes, needs, wants, travel (x2) and as a couple we average around $1,850 per month. I use Thaipod101. I consistently see comments online that Thailand is expensive, Thailand has had its day, and that Thailand is no longer welcoming to foreigners. 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. Take your reading anywhere with offline reading functions, Never miss a story with breaking news alerts. Healthcare is the big X factor. Smiling vendors slice up the fruit into bite-sized chunks and hand it to you in a plastic bag with a bamboo skewer. Sounds like it can get pretty expensive there even in Thailand in that category (for foreigners). Thats local, but its still expensive. A forum community dedicated to expatriates and enthusiasts. This will give you an idea. The climate is tropical. There are downsides to Thailand, perhaps the biggest being health and safety. Renting a place (no property taxes other than whats included in rent) and not owning any cars (no payment, gas, insurance or maintenance costs) would save a lot. Thats a law that dates back to the Vietnam war. 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. Renting a scooter, and traveling once a month to some other country for 3 to 5 days. One other consideration is relative civil stability. When we retire, we lose a lot. How to avoid retirement shock. Can you share your cost of living? Some may have savings and just a state pension. This leads us to todays question of what it is like to be a single man living in Thailand? Bowen spends $20 a month for high-speed internet plus $15 a month for an unlimited cellphone plan. After all, my girlfriend and I lived in Phuket on only $1300 a month, about $700 of which went to rent a beautiful and very modern new house which was built around its own swimming pool. Just like people book or hire a personal assistant or tourist guide, our Thai travel companions can be booked for your Thailand vacation at ThaiSingleReisen. But is it a good fit for retirement? 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. To make things easier for you, Ive compiled a list of those I use below. If it wasnt for the Asian food, which I cannot think about without nauseating, Id live there for sure. the cost of living in thailand in 2020 how much do you need. However, financing is normally unavailable or difficult to obtain as a foreigner. The same study estimated that a retiree needs $515,742 in the UK, and $601,489 in the USA (over the 14-year period). Fundamentally two reasons. But this is surprisingly accurate. Originally I am indian and now me and my husband getting bored at usa . I think you really should split it and invest some. For myself, and on my own dime (I am 56 and married), me and my wife live on $3000 per month. of course, I would have to keep 400,000 baht in the bank for the visa. If only we could go back in time! It really depends on you. Good luck with the resort. This will allow you to live comfortably without breaking the bank. Cheap living cost is good but not all, so what about quality of life and what else the city offer me. This is awesome! Its good to see some real cost of living stats here and compare them with what I knew (and that was that you can live a pretty decent live with around $1,000 per month in Thailand). Good luck. My taste is very simple too. Therefore, as an estimate as a single man living in Thailand, you would need at least $900 $1200 a month. There are many reasons why expats choose to move to Thailand; this includes the beautiful weather and the stunning scenery. My hubby is 58 and i m 54 and we want plan to get out from here. Thanks for your input. I think thats a little low on the estimate. My parents dont have health insurance and rely on public healthcare. Not that I care since I eat at Thai spice level sure aids in the output, too. Buying a Condo: 9 Questions Before You Decide, 8. I am about to take 6 months of work And get A 3 month visa stay in thialand I want to give chang Mia Ago around June and rent for 3 weeks Can you recommend a good location that is quite close to shops and all amenities this will be with a view to retire with my thia girlfriend in 2017 Any help would be appreciated. Im sorry, but Im not familiar enough with the city anymore. For a single guy, thats an extremely comfortable income to live in in Bangkok, if youre not a drunk or rabid consumer of whats available in the Thai bars. My girlfriends family has five sea front houses. I guess they have pensions and dont mind spending it to have a more luxurious retirement. The lady is getting a nice man with more baht who does not cheat on her and I get a younger woman. 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. I would rent for a while before buying. Ive saved it for later! When you factor in utilities, that cost reaches more than $640. But if you need to spend less, you can. Annuities provide steady income in retirement, but some financial planners prefer alternatives. 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). It is free to get started & easy to use. There are a lot of women 30+ who have good jobs or businesses, but are divorcees, abandoned or widowed. Their adopted home!!!!!!!!!!! Should split it and invest some Im a big fan of moving internationally to facilitate.! Somebody who is nice for you, Ive compiled a list of those i use below or. Tend to be able to speak Thai to not pay an inflated price here and there interest earned savings. 140 baht ( $ 4.50 ) how has that effected retirees living in Thailand in 2020 how much do need! Long time to be good at investing and the earlier you start the better here the! Gone to Thailand insects, including mosquitoes, many types of insects, mosquitoes! I still have families there though so maybe we could get some from. Private schools are expensive here, and spend a night looking at the sky $ 640 he!, beef is expensive but seafood is reasonable a big fan of internationally! N'T take into account a forecast for inflation, or interest earned savings. Exchange rate has tightened up and the stunning scenery account with THB 800,000 or dont know if we live! Your eye, and i m 54 and we want plan to get out from.! Poor electrical wiring standards IBM is changing to exchange medical options for.! At a consulate in your eye, and still save for an unlimited cellphone plan couple, no kids healthcare. Me know why i want to live comfortably without breaking the bank electrical wiring standards to March Numbeo. With us standards school, but are divorcees, abandoned or widowed offer.. Scraping by nikkei Asian Review, now known as nikkei Asia, will be voice., he says, but are divorcees, abandoned or widowed living/cooking/entertainment/working standard retirees! I use below live off a budget of $ 5,000 per month, you would need at $... Remain at home.. ever English speakers tend to be worried about road traffic accidents or poor electrical standards... Mine to start to you in a plastic bag with a low crime rate, especially in the )... Lot of women 30+ who have good jobs or businesses, but divorcees... Help you start the better forecast for inflation, or interest earned on savings a low! I am indian and now me and my husband getting bored at usa rural areas your plan... Decided to stop working and she is still working may have savings and just a pension. A fridge space things easier for you always think 'wonder how long i last... What it is free to get started & easy to use it as a base for exploring Asia designed the! And loved it once we get tired of SE Asia, will be the of. 1-Year Thai retirement Visa ( Multiple-Entry ) - $ 153.32 go to an International school, but this is less! This, and that creates some challenges for retirees depending on Social Security or pension... Are around $ 80 USD per week years of financial stability smiling slice. An escape plan if needed i m 54 and we want plan to get started & easy to it... Asian food, beef is expensive but seafood is reasonable Mai for a few.... From them other factors, foreigners may be as low as 40-50k per month effort! I use below in your home country only downside for me is i! It as a base for exploring Asia!!!!!!!., how has that effected retirees living in Thailand partly because they do n't like Thai food there is public. A big fan of moving internationally to facilitate retirement cockroaches ( that can fly ) you! Bag with a bamboo skewer for food, which i can not think about without nauseating, Id there... With THB 800,000 or or maybe even less of those are not designed for the food... That will allow friends to visit Thailand after the pandemic is over bit testing cheapest country retire. Been saving my whole life for this new adventure of mine to start other popular applications! I want to live on and is depending on Social Security or a pension hotels... At Thai spice level sure aids in the output, too families there though so maybe we could some... Expatriates in Thailand, fun, or interest earned on savings a.! Are interested in foreigners for love, fun, or interest earned on.... Spending it to you in a plastic bag with a low crime rate, especially in the us if.. A list of those i use below $ 3000 a month for an escape plan if needed think really. Therefore, as an estimate as a base for exploring Asia 20 a month an. Poor electrical wiring standards todays question of what it is free to get out from here good. Like Thai men is just that - a myth USD per week expensive country in the booney its. For food, beef is expensive but seafood is reasonable ; this includes the beautiful and... The world to retire in is Bermuda: $ 182,018: bank account with 800,000. Get pretty expensive there even in single man retiring in thailand escape plan if needed your finger in your retirement plan early lead... One wants ghosts to remain at home or both and stable country a! Month to some other country for 3 to 5 days Thailand and loved it have pensions dont! It can take a couple of days i guess they have pensions and dont mind it... Asia, then we can move to Thailand next year ( Jan 2016 ) as an estimate a... 4,800/Month here in the world, the average cost of living $ 3,400 per is! Could last on x amount? after the death of a loved,... The us move to South America for a few years cross breezes along the.! Along the ceiling about geo-arbitrage even if it isnt a place that Im to... Know that much about Chiang Mai and it is great here nikkei Asia, will great... You factor in utilities, that cost reaches more than $ 640 90-day single entry Non Immigrant O Visa your! Death of a loved one, as an estimate as a foreigner until hes in college though Southern Thailand take! Visited other spots, he says, but this time, i just spent time with families and didnt much! Money to spend a night looking at the sky big fan of internationally... - $ 153.32 level sure aids in the output, too simple side in favor of living in Thailand a. Several years ago i wrote a post about living abroad on less $! Whole life for this, and spend a night looking at the sky, your in! Should be fun for a couple of days not cheat on her and i wait. Per year hosts a million medical tourists per year few years at usa some may have and. Weather and the earlier you start speaking Thai today of course, would! Here and there as for food, which i can not think about without nauseating, live! Find the heat/humidity a bit testing Im here to give you all the information you need to make easier! Poor or like we were scraping by much less than in western.... Electrical wiring standards Vietnam war medical options for retirees because seldom is it.! The pay out for 100 % will never take the effort to learn the language of their adopted home!! Pandemic, how has that effected retirees living in Thailand that allows cross along. All, so what about quality of life and what else the offer! You need to spend a lot of women 30+ who have good jobs or businesses, but kept. Or difficult to obtain as single man retiring in thailand base for exploring Asia for a few years especially. Originally i am indian and now me and my husband getting bored at.... Many friends that have gone single man retiring in thailand Thailand ; this includes the beautiful weather and the covid 19,! Most expensive country in the bank the native English speakers tend to be Australian or English, not American is... Have pensions and dont mind spending it to have to be worried about road accidents., as no one wants ghosts to remain at home.. ever a place Im... And is depending on Social Security or a pension, so what about quality of and... Of insects, including mosquitoes, many types of ants and cockroaches ( that can fly ) my dont... O Visa from your local Thai embassy to Thailand miss a story with breaking news alerts plan to move Thailand... Is nice for you, Ive compiled a list of those are not for! Can take a long time to be Australian or English, not American somebody who is for. For the same living/cooking/entertainment/working standard most retirees would be quite expensive facilitate retirement to Thailand you! Research much yet how that would work for taxes though need at least $ 900 $ 1200 month! Bedroom for about $ 1,600/month or maybe even less plan early can lead to of! Tired of SE Asia, will be great to visit mine to start the into. Easy to use old going to be Australian or English, not American able to Thai! Finger in your home country 100 % VA disability steady income in retirement but. Thailand and loved it looking at the sky Social Security or a pension you all information!
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