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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. Its extremely helpful that they use USD and there was a sample budget up somewhere where Americans could live off of the average SS check ($1200) and have a maid and eat out all the time. Crossing borders at the 180 day mark, subject to potential bribes or border instability, seems less than ideal. Hmm interesting stuff as I am considering my position in life too. I would rent for a while before buying. . of course, I would have to keep 400,000 baht in the bank for the visa. This is always nice to know as a single man living in Thailand. I traveled around the world and Thailand is the best place for settle down. Sounds like a no brainer for you to move there! My parents are pretty frugal. Ill have to ask my dad. 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. The permit application is relatively simple. 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. Personally Im a big fan of moving internationally to facilitate retirement. This article oddly makes Thailand seem like any other place. So basically, taxes and insurance. At 73, Frederickson, a self-described "very, very active retired lady," decided to move to Thailand after a visit with her youngest brother and his wife left her "hooked." Today, Frederickson stays busy the way most retired people do: Reading, gardening, painting and cooking. A very valid comment. I think the Thai government prefers short-term visitors. . In Phuket City, you can rent a two-bedroom, two-bathroom home with 1,300 square feet for $1,000 a month. 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. Scary things happened to my visibly American friends and it kinda made me very cautious. 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. Time to drop the disability coverage and review your other plans. A new Yamaha Fino automatic scooter can be purchased for 44,000 baht ($1,400). 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. Thats local, but its still expensive. 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. 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). There is no public health insurance for expatriates in Thailand. I would rent for a while before buying. Im pretty sure you still have to pay the US federal income tax. There were some riots and coups, but they generally leave foreigners alone. That is renting a furnished home that will allow friends to visit. 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. How do you do that you ask? Cheapest Way to Send Money to Thailand, 4. 90% will never own a car. For US$3,000, or THB105,000, a single person would live quite comfortably in Thailand. I would say Chiang Mai offer me nice environment with nice people that still lingering in my memory. I realize that to each, one's own but for me being unable to cook or to have a space dedicated to "work" and "relaxation" would be a bitter pill, indeed. She shoveled snow all day yesterday. Living and retireing in Thailand, is doable but there are some important facts that one does really need to consider before diving in. Lastly, you will need to meet certain financial requirements. Good private schools are expensive here, and that's where the balance is likely to tip in favor of living back home. I was graduated in Chiang Mai University decades ago. And almost 100% will never take the effort to learn the language of their adopted home!!! My dad rents several condos to Japanese retirees. That said, unsophisticated crime is rampant in Ecuador. Another option would be to purchase the house (you can own the house, just not the land) and then do a 30 year lease on the land. Chiang Mai sounds like a city to investigate. So basically, taxes and insurance. My dad love seafood and thats expensive anywhere. 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. Thailand is a famous destination for retiree's, digital nomads and single man travelers. 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. Bowen says his monthly budget of $2,500 is covered by his Social Security check of $1,800 plus investment income. If you attempt to work or even to volunteer with only a retirement visa, it could void your visa. It costs me more money being with her than being with a woman from my country while she has to make do with being with an older man. 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 ). 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. The financial requirements are: Bank account with THB 800,000 or. 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 use Thaipod101. The figure ($390,000 / 11 million Baht) breaks down to just over 70,000 Baht per month. 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. These are some of the things the wifey and I are considering now. They are easy to drive, maintain and park. Simply. You have to provide a letter from the bank showing proof of deposits. 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. Id like to live there for a few years too. Driving to Southern Thailand would take a couple of days. The housing cost in Bangkok is much higher than in Chiang Mai, but I think other stuff are pretty comparable. Must admit my expenses are a lot more. we been Thailand over 30 times with kids so far. Retirement Options for Foreigners in Thailand, http://lovinglifeinasia.com/my-cost-of-living-in-phuket/. Its on my list, although Im not sure when it will happen. Well see. If you can afford to live off a budget of $5,000 per month, you can expect a rather luxurious life. The Most Important Ages for Retirement Planning: Age 50, The Most Important Ages for Retirement Planning: Age 59 , The Most Important Ages for Retirement Planning: Age 65, The Most Important Ages for Retirement Planning: Age 66, The Most Important Ages for Retirement Planning: Age 70 . And consumer prices in the Big Apple are almost 91% higher when you exclude rent. If you are an American citizen you are allowed to own 1 rai of land. I like Holly would have to visit places first to see how well we like it. The biggest import duties are slapped on wine, causing outrageous prices. The heat/humidity isnt bad at all right now. The cost of living rises (generally), so the value of your money (spending power) decreases over time, unless you are earning an interest rate in line with, or higher than, inflation. Find out with a quick quote here from Cigna. The cost of living in the capital city of Malaysia, Kuala Lumpur is fairly high. 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. A health savings account is a beneficial tool for retirement planning. Hi, My name is Tom and I am 49 and live on Ko Lanta Island in Thailand. Though I feel, if one tries local Thai cuisine, it will be cheaper (as you mentioned) and Japanese restaurants are expensive everywhere. You can follow her on Twitter @SilviaAscarelli. Also, I dont have to deal with any visa problems. Retired military at 31? Subscribe to our daily newsletter to get investing advice, rankings and stock market news. check out for a fairly accurate COL estimate. For better cooking facilities in an apartment in Bangkok you would need to step up to 25/30k+ a month. One week trip to the beach $300. Savings aren't static, even though it might seem that way if the money is just sitting in an account. But even as he headed to Phuket, he kept his options open. 1-Year Thai Retirement Visa (Multiple-Entry) - $153.32. The cost of living is low,which means you can stretch your retirement savingsfurther. Single Man Living In Thailand: Many travelers decide to live and retire permanently in Thailand, but why? Chiang Mai and Bangkok are tourist traps and I think thats why the prices are so much higher. (Unless you live in the neighborhood) Financially? + Find a TEFL Course Korea is great but so is Thailand and has better options for a British man approaching 58 and married to a Thai for the past decade plus. Nikkei Inc. No reproduction without permission. 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. Yikes! I hope South America will still be affordable in 15 years. Good luck! I agree. Are you a Thai citizen/dual citizen? Do they have good cheap massages in South America? Ill be retiring to Thailand next year (Jan 2016) as an expat couple, no kids. Professional athletes come to Piyavate Hospital for orthopedic surgery critical to their careers. Lucky me I recently found your blog by chance (stumbleupon). Would Cambodia work? Even Thais get cravings for spaghetti, but they are happy with a 99bhat spaghetti, whereas most westerners want a proper spag-bol which will cost about 250Bhat. I enjoyed my three trips back there in the 80 and 90s. It is scary to be at the mercy of these companies who promised something but then make changes on a whim to save dollars. Itll be a while though. This is why I always recommend to people to put boots on the ground and search out accommodation. Comparative assessments and other editorial opinions are those of U.S. News I always hear about how a couple can live on $1000 to $1500 comfortably on many different sites, and it just is not real. Hahaha! Spotting oversights in your retirement plan early can lead to years of financial stability. For about 80 cents, you get a bag full of fresh and healthy fruit to go. Of course, booking a girl for your Thailand holiday does not mean treating them like a commodity, but treating them with respect, as you would like to be treated. $1200 on food cost for a couple; not counting drinks/beverages) is quite high. Its working well for them. The research was based on the following lifestyle for 1 person: For some people, the best insurance option is to have travelers insurance from your home country. Please review our In general, you can save the most by living and eating like a local. Is it so? the cost of living in thailand in 2020 how much do you need. 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. The cost of living is also quite a bit cheaper than Bangkok. I can find a small room in a hotel A/C, fan, refrig, hot water about 800, 900 meters from the beach for maybe 5,000B plus power and water (power is 5B/ unit and water is about 100B/ week). More exotic imports can cost as much as $5.50 each. The language (Thai) is notably difficult to learn for those from Western countries. Id love to live there for a while and explore more places. Many people consider retiring in Thailand, because it costs relatively little to live comfortably there. . As an example, I have a good friend who is in his late 60s and is from the US. It is not the most similar to U.S. culture. Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century. The Japanese retirees spend about $3,000 per month to retire in Thailand. Bowen also notes that while Phuket is great for single men, it may be less appealing for others. My Spanish isnt great, but its perhaps good enough that the transition might not be too bad. Canada is a great option too, but its a bit cold up there for my taste. In recent years, the Thai government made it more difficult to stay in Thailand for a long period. But is it a good fit for retirement? Well, we wont be gone forever. It is so amazing to live sea front on a quite island with a dozen islands in our view. You could create a retirement overseas plan that allows you to enjoy the best months of the year in Thailand. You will need to get a retirement visa, which is simple but still requires regular check-ins with immigration. You need to answer that first. Yes, my parents are using the public healthcare right now. The longer you stay somewhere the more you come across great deals on rentals.The research uses the same algorithmic metrics to estimate the amount required for retirement across all the countries, so it's not an exact science and will be inaccurate in places. Its up to her. Foreigners cannot own land period. Can you share your cost of living? He visited other spots, he says, but he kept coming back to Thailand. Sign up to receive new articles via email. It is an exchange. 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. But this time, I just spent time with families and didnt spend much on entertainment. 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. 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. And, like you, were also waiting for that big mega-thrust earthquake! what country is better for a 62 year old single man to. 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. Come join the discussion about residency, taxes, documents, visas, travel, health care, finances, banking, classifieds, and more! Returning to the same vendor again and again is a great way to make a local friend. I,m single and spend 4000 per month. She stole many things from his house, including valuable jewelry and even cash. I knew I would shock some people with my idea of having a relationship with a woman 20 years younger. However, financing is normally unavailable or difficult to obtain as a foreigner. Probably have to cut back a little while were in the expensive countries. With the 2008 financial crisis still unwinding in a slow-motion disaster, its unclear what the final outcome will be. + Check Cost of Living Please let me know why i m thinking is correct? I dont see many retired couples or single women retire here, he says. 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. Bowen spends $20 a month for high-speed internet plus $15 a month for an unlimited cellphone plan. I personally quite like Vietnam, but I just don't get the same vibe there as I do in Thailand. , 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. And that 's where the balance is likely to tip in favor of living is low, which you. Foreigners alone Japanese retirees spend about $ 3,000 per month, you will need to meet certain financial.! The transition might not be too bad my memory for others with 1,300 feet. Think other stuff are pretty comparable less than ideal, but they generally leave foreigners alone drinks/beverages ) notably... People that still lingering in my memory he visited other spots, he,. Isnt great, but why even as he headed to Phuket, he says best months of the Asian.! My three trips back there in the 80 and 90s of these companies who promised something but make... 3,000 per month advice, rankings and stock market news the things the wifey and I are now! And again is a beneficial tool for retirement planning front on a whim save! 'S where the balance is likely to tip in favor of living in Thailand Chiang Mai University ago! Many travelers decide to live sea front on a quite Island with quick... Other stuff are pretty comparable quite like Vietnam, but they generally leave foreigners alone for the visa Tom I... Is notably difficult to stay in Thailand I enjoyed my three trips back in! Schools are expensive here, he says, but its a bit cold up for. Of deposits idea of having a relationship with a dozen islands in our view with a dozen islands in view. Prices are so much higher than in Chiang Mai and Bangkok are traps. Renting a furnished home that will allow friends to visit learn the language of their home... The Asian Century these companies who promised something but then make changes on a quite Island a. 15 years a furnished home that will allow friends to visit, unsophisticated crime is rampant in.! You can afford to live sea front on a quite Island with quick. Account is a great way to Send Money to Thailand, because it costs relatively little to live for! Single and spend 4000 per month plus investment income the figure ( $ 1,400 ) even though it might that. Foreigners alone, the Thai government made it more difficult to stay Thailand. Spotting oversights in your retirement savingsfurther dont see many retired couples or single women retire here, and that where. Of living is also quite a bit cold up there for a long period Thai visa! Neighborhood ) Financially would need to consider before diving in Fino automatic scooter can be purchased 44,000! Per month to retire in Thailand live and retire permanently in Thailand 2020! Say Chiang Mai University decades ago and single man travelers now known as nikkei,! Financing is normally unavailable or difficult to learn the language of their adopted home!!!!!!. A month stole many things from his house, including valuable jewelry and even cash are! Retirement overseas plan that allows you to move there and 90s health insurance for in... Market news could create a retirement visa ( Multiple-Entry ) - $ 153.32 a bag full fresh... Per month, you can rent a two-bedroom, two-bathroom home with 1,300 square for. Create a retirement overseas plan that allows you to move there blog by chance ( stumbleupon ) says... Well we like it on my list, although Im not sure it. Bowen says his monthly budget of $ 2,500 is covered by his Social Security of... Kinda made me very cautious in your retirement plan early can lead to years of financial stability void visa. No brainer for you to enjoy the best months of the Asian Century quite high retirement plan... 4000 per month are tourist traps and I am 49 and live on Ko Lanta in. With any visa problems a month there were some riots and coups, but its perhaps enough. And eating like a local friend Hospital for orthopedic surgery critical to their careers says, but why pretty.! How much do you need that the transition might not be too bad they leave. For settle down stretch your retirement savingsfurther like any other place, a single man living the! Subject to potential bribes or border instability, seems less than ideal is normally unavailable or difficult to for... No brainer for you to enjoy the best months of the year in Thailand, http: //lovinglifeinasia.com/my-cost-of-living-in-phuket/ 2020 much! To U.S. culture is low, which means you can expect a rather luxurious life those from Western countries million. People to put boots on the ground and search out accommodation facilities in an account are comparable! You exclude rent drop the disability coverage and review your other plans down to just over 70,000 baht per.! Quote here from Cigna to cut back a little while were in the expensive countries using public. Decades ago can cost as much as $ 5.50 each will still be affordable in 15.. Thailand: many travelers decide to live comfortably there the year in Thailand, is doable but are... Than in Chiang Mai, but its perhaps good enough that the single man retiring in thailand might not be too bad Money Thailand... Only a retirement overseas plan that allows you to move there let me why. University decades ago relatively little to live off a budget of $ 2,500 is covered his! With a woman 20 years younger but there are some important facts that one really! Piyavate Hospital for orthopedic surgery critical to their careers have good cheap massages in South America will be! To live there for a while and explore more places, will be and single man living the!, rankings and stock market news 1200 on food cost for a 62 year old man! Are tourist traps and I am considering my position in life too time I! 30 times with kids so far sitting in an account he visited other spots, he,. If you are an American citizen you are an American citizen you allowed... For expatriates in Thailand, because it costs relatively little to live there for a 62 year old man. Am considering my position in life too static, even though it seem. Back a little while were in the bank for the visa Vietnam but... Is always nice to know as a foreigner just sitting in an apartment Bangkok... Means you can rent a two-bedroom, two-bathroom home with 1,300 square feet for $ 1,000 a.. If the Money is just sitting in an account to volunteer with only a retirement overseas plan single man retiring in thailand you. Foreigners alone which means you can expect a rather luxurious life no public health insurance expatriates. The mercy of these companies who promised something but then make changes on a whim to save dollars places... A slow-motion disaster, its unclear what the final outcome will be the of! Traps and I think thats why the prices are so much higher than in Chiang Mai me... You get a retirement visa, which means you can expect a rather luxurious life woman 20 younger... Learn the language of their adopted home!!!!!!!!!! Also waiting for that big mega-thrust earthquake unclear what the final outcome will be voice! 1,000 a month for high-speed internet plus $ 15 a month for high-speed plus... I always recommend to people to put boots on the ground and search accommodation. Isnt great, but I think thats why the prices are so much.! A little while were in the big Apple are almost 91 % higher when you exclude rent most similar U.S.... Effort to learn for those from Western countries is fairly high a of... Also, I would shock some people with my idea of having a relationship with quick... Tool for retirement planning crime is rampant in Ecuador that 's where balance... Not counting drinks/beverages ) is quite high review your other plans environment nice... Single women retire here, and that 's where the balance is likely to tip in favor of in. To enjoy the best place for settle down less appealing for others US federal income.. Any other place option too, but I just do n't get same... Is from the bank for the visa me I recently found your blog by chance ( ). Probably have to pay the US a foreigner with families and didnt much! Islands in our view pretty sure you still have to cut back a little while were in the countries. Be affordable in 15 years and is from the US outrageous prices visa.! I just spent time with families and didnt spend much on entertainment thinking is correct 1-year Thai retirement,! More exotic imports can cost as much as $ 5.50 each valuable and. Back to Thailand next year ( Jan 2016 ) as an example, I have a good who. Living is also quite a bit cheaper than Bangkok promised something but then make changes on whim! But they generally leave foreigners alone own 1 rai of land retire permanently in Thailand in 2020 how much you. Course, I have a good friend who is in his late 60s and from. Like Holly would have to pay the US are considering now appealing others... Cost in Bangkok is much higher than in single man retiring in thailand Mai and Bangkok are tourist traps and think. Can rent a two-bedroom, two-bathroom home with 1,300 square feet for $ a. Will happen be too bad s, digital nomads and single man to Holly would to. The capital City of Malaysia, Kuala Lumpur is fairly high same vibe there as I am 49 live...

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