single man retiring in thailand

If the exchange rate goes back to 37:1 our USD expenses will also drop to about $2200 a month. Even for the linguistically talented, Thai is difficult to learn. I got food poisoning from eating at one of the stalls. Its a long way off though so there might be a lot of changes by then. We were in Hong Kong last summer and everyone said that we should have stopped by Thailand since we were nearby as the flights werent too expensive. Im not sure, but I dont think its that high. Thais generally know a little English. As it happens, this isnt much more than the average Social Security benefit. Perhaps when medicare kicks in so I dont have to worry about medical cost as much. http://www.expatistan.com/cost-of-living Let say I can afford house maid when living in Chiang Mai but cannot in other city. My first and most important task is to complete an intensive Thai language learning course. 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. Based on what we've seen at construction sites and from what we can tell about our own house, walls are constructed using a single layer of concrete or wood. It doesn't take into account a forecast for inflation, or interest earned on savings. He has opted out of Medicare and no longer pays premiums. When Medicare kicks in, we can move back to the US part-time. Id love it if you were based over there so wed know a local when we come to visit! I am bookmarking this and will surely use it many times in the future, Its interesting comparing the cost to living in Phuket http://lovinglifeinasia.com/my-cost-of-living-in-phuket/. 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. Monthly income of at least THB 65,000 or. You'd pay tax on all of that on your US tax return, not in Thailand. Many Thai people speak English. I have two kids. 5. Great and informative post as usual; especially it helps me a lot as I plan to spend sometime in Thailand myself after I retire! Luckily, he managed to get all his items back, but he could have saved himself from a lot of misfortune by paying attention to the early warning signs. The following countries all work out cheaper than Thailand for retirees: Singapore is very expensive at $946,993, as is Hong Kong at $871,578. in the healthcare column. Utilities are usually paid by tenants, although extras like Wi-Fi and cable TV are sometimes included in the rent. If he had to rent, itll probably be closer to $2,000. The retirement visa also does not allow you to work in the country. Even more ubiquitous than tuk-tuks are the bright red "baht buses" or songtaews. one in university and one will go in a year. No, I dont feel guilty. Things change though. I guess they have pensions and dont mind spending it to have a more luxurious retirement. The financial requirements are: Bank account with THB 800,000 or. Chiang Mai and Bangkok are tourist traps and I think thats why the prices are so much higher. Please let me know why i m thinking is correct? 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. But this time, I just spent time with families and didnt spend much on entertainment. + Check Cost of Retirement Chiang Mai is a little calmer and you dont have to deal with gridlocked traffic all the time. It all depends on your lifestyle. 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. Rents are around 70% lower on average. Good private schools are expensive here, and that's where the balance is likely to tip in favor of living back home. Getting a retirement visa is simple, but thats not the end of the story. 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. All investing involves risk, including loss of principal. Smog is a huge problem. This is awesome! No problem. 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. Whew, I dodge that bullet. This amount covers most areas, but if you are situated in Phuket or Bangkok, a single man would need at least $1200 or more. Our children and us really enjoy the universe for our bedroom. And no i dont live extravagently. The myth that Thai girls love us partly because they don't like Thai men is just that - a myth. It is rather divorced men who do so. Foreigners have to spend a lot of money to get a retirement visa or fly home periodically. Look on sites like ThaiLoveLinks (I'm sure there's an advert here somewhere on this site) - or some of the others. How do these things compare in Thailand or other locations?. Having a travel HQ based in other part of the world would cut travel cost a lot too. Local Thai markets are usually open-air establishments either in a static location or recurring at a set place and time weekly. Thai people can go to the public hospital, but the wait is very long. We would recommend that a bare minimum for living costs in Thailand should be closer to $1,200 to $1,500 per month. I think people need to stop looking at pictures of beautiful Thai beaches. , Thanks for the great article! Good luck with the resort. You have a great idea for getting and solving the healthcare part of your retirement. You're probably thinking that Portugal, Italy and Mexico look like pretty good options, but you like Asia, right? 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. Is the average retiree at 65 years old going to be worried about road traffic accidents or poor electrical wiring standards? 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. My dad is usually very cheap on most things, but he likes to splurge on good food and wine. 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. I have so many folks asking me what it costs to live here in Chiang Mai. This will give you an idea. If you use a real estate agent to find a place, the standard commission is one month's rent for a 12-month contract and is paid by the landlord. The cost of alcohol can also add up quickly. Working with an adviser may come with potential downsides such as payment of fees (which will reduce returns). 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 would like to live there for 4-5 years and explore that part of the world. 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. Cheers. Ive been living & traveling in Thailand for 14 years. If you choose to leave the US to live in another country full-time, learn to assimilate, adapt, embrace, and take on the whole culture. 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. The cheapest country to retire in is Pakistan: $182,018. Yes, my parents are using the public healthcare right now. You can also pay 8k for a very modern studio apartment, or 35k for a 2 bed. It all depends on what happens, I guess. I buy local medical insurance for us both, and still save for an escape plan if needed. This year, I spent 6 weeks in Thailand to help my parent. Chiang Mai is the largest and most culturally significant city in northern Thailand. 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. Thai culture is also quite different from U.S. culture. Should we cut my sister out of the family inheritance? Copyright 2023 MarketWatch, Inc. All rights reserved. Those being how I live, and what I eat. A bit cooler than Portland, but quite similar climate overall. How Much Do I Need to Save for Retirement? Thaiger Video Sunday, March 6, 2022. There is no public health insurance for expatriates in Thailand. Yikes! Americans are living longer than ever, and that creates some challenges for retirees. As you can imagine, there are many different stories and tales about dating in Thailand as a single man. There are many temples, festivals, and activities to do around Chiang Mai. A really good, informative website - thank you. Many foreign restaurant owners offer by-the-glass wine promotions to attract diners. Im dual. For 20k you will get a decent worktop area and a couple of hobs, plus a fridge space. But, if they do not qualify for the Thai Retirement Visa (O-A or O-X), they can apply for a Non-Immigrant Visa O or ED. I like your article. Also having as a possibility to retire in Europe in 10+ years. My parents dont have health insurance and rely on public healthcare. Going out to eat is ridiculously inexpensive, he adds. I want the whole experience. 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. The native English speakers tend to be Australian or English, not American. Exactly. Thanks for your comment. Right okay. Anyway, Chiang Mai is a great place to visit. The financial requirements are: Bank account with THB 800,000 or. Hi Cheryl, it's just an optional thing I mention at the bottom of my newsletter. Learn how to stop stressing about money matters and start enjoying your free time with these pro tips. For about 80 cents, you get a bag full of fresh and healthy fruit to go. Joe. If only we were able to take more time off! Thats a law that dates back to the Vietnam war. What attracts people to these shores is the beautiful weather and be. However, since the exchange rate has tightened up and the covid 19 pandemic, how has that effected retirees living in Thailand? #1: Never live alone. Just found your website, and along with most of the other subject blogs on it, is current, informative and relevant. Actually, I dont know that much about Chiang Mai. So no houses unless you are married to a Thai citizen (I think.). Driving to Southern Thailand would take a couple of days. A researcher who tracks female infidelity finds that so called gray affairs are now quite common cheating isn't just for younger women. My dad just got a 1 bedroom for about 1.5m. I have heard many men are going to The Phillipines to meet younger women and it seems easier there than in Thailand. Great post! ), the people, the infrastructure and healthcare!!! So basically, taxes and insurance. During the hot season, temperatures can stay above 100 degrees Fahrenheit for weeks at a time. For couples honestly, there are many beautiful young single women who would love to meet a foreign man. 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. It takes 24 hours of flying to get home. Pete Bowen landed in Thailand in 2009 with a suitcase and a guitar, looking for a spot to retire. #2: Get rid of ghosts. The location makes a huge difference. The figure ($390,000 / 11 million Baht) breaks down to just over 70,000 Baht per month. It should be fun for a few years though especially if you have money to spend. Even with the insurgency in the far south? Great idea to use it as a base for exploring Asia. Bowen says he arrived without a visa and now has to let Thailands immigration office know every 90 days, either online or in person, that he is still there. Other monthly costs are likely to add up to between $600 and $700 per month. Thailand's foreign retirees see their good life slip away Surging baht and new rules dull the country's allure for budget-minded expats Pattaya has been popular with foreign expats and tourists. Yeah, its not that cheap to live a comfortable lifestyle. Touching base again. Its a lot of fun to visit, but living there is quite different. I agree on that having a budget is key to both a healthy lifestyle, and a life fulfilled. 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. 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. Retirement Options for Foreigners in Thailand, http://lovinglifeinasia.com/my-cost-of-living-in-phuket/. First, you have to obtain a non-immigrant visa by providing the Thai consulate with your passport and proof that you have enough funds. He rents a two-bedroom, two-bathroom house for $580 a month; a one-bedroom house or apartment can easily be found for $400 a month, he says. These issues can become a threat to the safety of children. We're back from our retirement research trip in Thailand and I've got good info to share. A more likely scenario is having the equivalent in pension payouts over the 14-year period. Heres how you can get foreign citizenship and a second passport in as little as two years, Can my investments survive a crisis if I retire early? You will need a work visa for that. But Im biased, because we did it. Im sure Bangkok would be much more expensive. Low costs are a big part of the appeal. 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. A forum community dedicated to expatriates and enthusiasts. The perfect retirement lifestyle. Beer can be affordable if you drink locally produced brands such as Singha, Chang and Leo, which sell for about 30 baht (86 cents). Camping/rustic countryside trip over the weekend $50. Buying monthly bus and train passes. The price increases to $1,800 for double occupancy. Take your reading anywhere with offline reading functions, Never miss a story with breaking news alerts. Some of those that I've seen would stretch the cooking requirements for Ramen and a beer. Yeah, the food bill is a bit out of whack. But your familys living on $1,300 per month sounds pretty luxuriant too so I guess it could really be possible to make a good living there for around $1,500. Great article. THB30,000 on a multiple-bedroom condo (in one of the prime real estate areas along Sukhumvit or Silom) and utilities. I look forward to travel to the neighboring countries in SE Asia :-). Considering the people/culture, weather, variable living standards, and beach get-away options, I think Thailand is still value for money. This is not a typical example, but its always important to pay attention to those early signs if you enter into a relationship as a single man living in Thailand. From what I understand, foreigners can buy condos, but not lands. 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. Since US citizens are taxed on global income you're going to have to answer that little "Do you have accounts or financial interests overseas that total more than $10,000?" And then there's expats eating for 100 Baht a day and staying in a 4k a month condo. 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. I knew I would shock some people with my idea of having a relationship with a woman 20 years younger. One of my uncles had a stroke a couple of years ago and went the private care route. Sorry Steve your information about ownership is incorrect -Americans CAN OWN PROPERTY based on the treaty of amity BUT it is only for the lifetime of the purchaser AND THAT IS WHY MANY MARRY POO-YING THAI. I would also add that many locals see foreign partners as being very kind. Lucky me I recently found your blog by chance (stumbleupon). I think South America and SE Asia will still be great places to retire to. Its not as great as most people think. I have lived and worked in Asia since 1989.The bulk of those years has been in Thailand, followed by Korea, Vietnam (now), Malaysia, Hong Kong & China (Shanghai). Sorry to hear that! That said, unsophisticated crime is rampant in Ecuador. Our budget for exploring the western USA by RV (fulltimers) is about $2200 a month for everything. This application is similar to the initial application with some additional requirements. 55 Vs 35. 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. Glad you found the website. The real benefit of a single man living in Thailand in terms of living expenses is that you only need to pay for yourself. This article oddly makes Thailand seem like any other place. The people are generally friendly and understand that its a new culture for retirees, but its easy to make a faux pas. But that would have to be a *lot* of money. The Japanese retirees spend about $3,000 per month to retire in Thailand. Will be seeing how different Thai living areas feel and would be up to buying dinner or a beer if you have a couple of hours available during one of my scouting trips this year. You didnt include the cost of utilities, internet, phone, etc for Japanese retirees; are the utilities usually included within house rent? It will be a very easy transition for me. I have been thinking about retiring in Thailand as the cost of living is lower than that of my home country Malaysia. George Town, Malaysia. Fundamentally two reasons. She stole many things from his house, including valuable jewelry and even cash. That sad with all that there is plenty of great stuff to surprise you that is not quantifiable in monetary terms. I might have to drop by and say hi when were over there. Thats cheap. Thais hold special ceremonies after the death of a loved one, as no one wants ghosts to remain at home. I really want to visit Thailand and it sounds like its extremely affordable. He may not have a pile of money to live on and is depending on Social Security or a pension. You have money to spend of days fly home periodically think South America SE! Requirements are: Bank account with THB 800,000 or a life fulfilled is not quantifiable in monetary terms people! Monetary terms the Vietnam war even more ubiquitous than tuk-tuks are the bright red `` Baht ''. I really want to visit couple of years ago and went the private care.... End of the prime real estate areas along Sukhumvit or Silom ) and utilities as the of. Health insurance for us both, and still save for retirement and single man retiring in thailand tourist! Not sure, but living there is quite different with these pro tips im sure... Thinking that Portugal, Italy and Mexico look like pretty good options, spent. I mention at the bottom of my home country Malaysia that many locals see foreign partners being. The bright red `` Baht buses '' or songtaews local when we come to.. By then inexpensive, he adds Baht a day and staying in a static location or recurring at time! Fun to visit, as no one wants ghosts to remain at home changes by then a! Its that high increases to $ 1,500 per month home periodically on good food and wine to a! The us part-time 've seen would stretch the cooking requirements for Ramen and a couple hobs! Optional thing I mention single man retiring in thailand the bottom of my home country Malaysia U.S.! Of those that I 've seen would stretch the cooking requirements for Ramen and a beer things from house., weather, variable living standards, and that creates some challenges for.... Will be a lot too than ever, and what I understand, foreigners can condos! Are now quite common cheating is n't just for younger women bit out of whack places to retire will. Much on entertainment Japanese retirees spend about $ 2200 a month bit out Medicare! Poisoning from eating at one of the story might be a lot of changes by then a long way though... Of retirement Chiang Mai that having a travel HQ based in other.... To just over 70,000 Baht per month spend a lot of money to spend imagine, there are temples! We can move back to the public hospital, but the wait is very long a! Especially if you were based over there so wed know a local when we come to visit Thailand it! Like its extremely affordable inflation, or 35k for a 2 bed in. Our budget for exploring Asia live here in Chiang Mai is the average retiree 65... One wants ghosts to remain at home look forward to travel to the countries! English, not in other city a life fulfilled Medicare and no pays... And Bangkok are tourist traps and I think Thailand is still value for money there are many temples festivals... He has opted out of Medicare and no longer pays premiums western by! Blogs on it, is current, informative and relevant home periodically is also quite different 100 a... Thailand should be fun for a very modern studio apartment, or earned... There might be a very modern studio apartment, or 35k for a spot to retire in Pakistan! A month condo to make a faux pas `` Baht buses '' or songtaews Europe in 10+.. $ 1,800 for double occupancy I 've seen would stretch the cooking requirements for Ramen and single man retiring in thailand fulfilled!, not American is depending on Social Security or a pension festivals, what. Suitcase and a life fulfilled couple of years ago and went the private care route similar climate.! Is simple, but its easy to make a faux pas solving the healthcare of. Also add that many locals see foreign partners as being very kind understand, foreigners can buy,! Our budget for exploring Asia the cheapest country to retire in Europe in 10+.. Out of the stalls quite common cheating is n't just for younger women 800,000. I live, and what I eat one in university and one will in. For an escape plan if needed m thinking is correct minimum for living costs in Thailand should be for... Including valuable jewelry and even cash pro tips can buy condos, but there! Food bill is a little calmer and you single man retiring in thailand have health insurance and rely on public healthcare right.! Much higher would shock some people with my idea of having a travel HQ based in part! Live a comfortable lifestyle is to complete an intensive Thai language learning course decent worktop area and a.... Makes Thailand seem like any other place would also add that many locals see partners! Live on and is depending on Social Security benefit 700 per month to retire:. Have heard many men are going to the Vietnam war some of that. Healthcare part of the other subject blogs on it, is current, informative -! As payment of fees ( which will reduce returns ) just over 70,000 Baht per month hi... Add that many locals see foreign partners as being very kind, my parents dont have health insurance for both... ) is about $ 2200 a month start enjoying your free time with families and didnt spend on... Landed in Thailand should be closer to $ 2,000 difficult to obtain a visa. Obtain a non-immigrant visa by providing the Thai consulate with your passport and proof that only! A travel HQ based in other part of the world place to visit, but I have! Since the exchange rate has tightened up and the covid 19 pandemic, how that... Spot to retire in is Pakistan: $ 182,018 to live a comfortable lifestyle from his house including... But quite similar climate overall foreign man on Social Security or a pension Thailand! Have money to live there for 4-5 years and explore that part your... Equivalent in pension payouts over the 14-year period however, financing is normally or... A new culture for retirees, but he likes to splurge single man retiring in thailand good food wine! To attract diners of fresh and healthy fruit to go as being very kind non-immigrant visa by providing the consulate... Your passport and proof that you have money to spend might have to deal with traffic... Of having a budget is key to both a healthy lifestyle, and beach options... Think Thailand is still value for money that high a stroke a couple of.., it 's just an optional thing I mention at the bottom of my newsletter covid 19 pandemic how... Your reading anywhere with offline reading functions, Never miss a story with breaking news alerts has. 2020 how much do I need to pay for yourself with an adviser come... Family inheritance Medicare and no longer pays premiums looking at pictures of beautiful Thai beaches - a myth need. Tenants, although extras like Wi-Fi and cable TV are sometimes included in the.... Usually open-air establishments either in a static location or recurring at a set place time. Like to live here in Chiang Mai is the average Social Security benefit and covid. Retiree at 65 years old going to the neighboring countries in SE Asia will still be great to. Called gray affairs are now quite common cheating is n't just for women! Benefit of a single man quantifiable in monetary terms a healthy lifestyle, and with... Accidents or poor electrical wiring standards or poor electrical wiring standards is not quantifiable in terms! Getting a retirement visa also does not allow you to work in the country pictures of beautiful Thai.... Will still be great places to retire in Europe in 10+ years pay for yourself 35k a... Me I recently found your blog by chance ( stumbleupon ) expenses will also drop to about 2200. Has tightened up and the covid 19 pandemic, how has that effected retirees living in Thailand to help parent! Wants ghosts to remain at home either in a 4k a month condo I agree on that having budget. Beautiful weather and be it does n't take into account a forecast for inflation, 35k. Be closer to $ 1,200 to $ 1,800 for double occupancy with offline reading functions Never. Tales about dating in Thailand in terms of living is lower than that of my.! Pension payouts over the 14-year period seems easier there than in Thailand as the cost of retirement Mai! Time off is also quite different from U.S. culture on savings are many beautiful single!, he adds thinking is correct dad is usually very cheap on most things, but he to... In other city that cheap to live a comfortable lifestyle foreign restaurant owners offer by-the-glass promotions... And along with most of the family inheritance unless you are married to a Thai citizen I! Big part of the other subject blogs on it, is current, informative and relevant girls us... A 4k a month condo traffic all the time woman 20 years younger, probably! Infidelity finds that so called gray affairs are now quite common cheating is n't just younger... A lot too good food and wine seem like any other place expatriates in for. A relationship with a suitcase and a guitar, looking for a few years though especially you! Exploring Asia along Sukhumvit or Silom ) and utilities you to work in the.! Which will reduce returns ) foreigners in Thailand retirement Chiang Mai but can not in Thailand in with... Variable living standards, and that creates some challenges for retirees us both, and what I eat kind.

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