I might spend more once I get used to the social life here. You could top up your contributions now and you're allowed to backpay for 6 years. 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. Depends on the area. Heck, if it was for family and friends, Id probably want to leave NYC right now for a lower cost of living location. Read more here: Really interested to hear of your experience and whether you have decided to settle in Thailand. Thai people can go to the public hospital, but the wait is very long. My dad is usually very cheap on most things, but he likes to splurge on good food and wine. I like the modern life. Oh yeah, and be 50 or over. #1: Never live alone. There are about 130,000 people living in the city itself and nearly 1 million people in the surrounding sprawl. Monthly income of at least THB 65,000 or. The point is we never felt poor or like we were scraping by. Everything just keeps getting more expensive. Do they have good cheap massages in South America? There are four steps to acquiring a visa to retire in Thailand. 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. 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. Chiang Mai is the largest and most culturally significant city in northern Thailand. Leo is planning to move back to the US because he has Medicare benefits there. It actually costs me less in the US to retire even in Berkeley, California since Im familiar where to get all the cheap groceries and entertainment since I know most music venue owners who let me in for free. 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. Thailand has always been popular as a country to come to live and retire. Thailand receives a lot of attention as a retirement destination and for good reason. Smiling vendors slice up the fruit into bite-sized chunks and hand it to you in a plastic bag with a bamboo skewer. Many Thai women are interested in foreigners for love, fun, or both. I think Indian food is also quite expensive in Thailand. Im sure we would have a tough time at first too. Theyve been married for eight years. Most retirees have modest savings and a half decent pension. In her area, I could take a job in a local school or university (for much, much less than I earn now). Thanks for your input. Well see. We know were not going to be in the DC area after Daughter Person graduates, but havent settled on any specific place yet (other than further north). Then you have to be able to speak Thai to not pay an inflated price here and there. I,m single and spend 4000 per month. Paid monthly or quarterly. Hepatitis is a concern. For about 80 cents, you get a bag full of fresh and healthy fruit to go. In Thailand they START AT 7 and go to maybe 15. I speak Thai, have families here, and Im a Thai citizen. A one-bedroom apartment in the center of the Thai capital Bangkok will run you about $562 per month for rent. As some of our long-time readers may know, my parents are semi-retired in Chiang Mai, Thailand. My thoughts are turning to retirement however, I would still like to work as I am fit and healthy. They can always come visit us if they miss us. If only we were able to take more time off! 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. #2: Get rid of ghosts. There are a lots of chinese message place all over Costa Rica. It's easy to criticize this study for what isn't factored in, and the fairly simplistic financial calculations it uses. Retirement Options for Foreigners in Thailand, http://lovinglifeinasia.com/my-cost-of-living-in-phuket/. Well done Peter, keep up the good work! No problem. The price increases to $1,800 for double occupancy. I have not research much yet how that would work for taxes though. This will allow you to live comfortably without breaking the bank. Mr. LH and I have discussed retiring abroad to someplace less expensive. 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. A doctors visit costs $10, but pharmacists can handle many problems. The myth that Thai girls love us partly because they don't like Thai men is just that - a myth. 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. Id probably take the train or fly. And it was fun. November . 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. My wife is Thai and we have been planning for our future in Thailand even since we got married 9 years ago. Canada is a great option too, but its a bit cold up there for my taste. Glad you are finding it useful. Its on my list, although Im not sure when it will happen. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); This site uses Akismet to reduce spam. There are many variables, including living rurally, which is much cheaper. Glad you found the website. There were days I ate no normal meal but all deserts and coconut ice cream, and I was all right. Healthcare, however, is the big mystery. Living cost was much cheaper than BKK, Pattaya and Phuket. The Pearl of the Orient is one of Southeast Asia's most livable destinations. As you can imagine, there are many different stories and tales about dating in Thailand as a single man. If you can afford to live off a budget of $5,000 per month, you can expect a rather luxurious life. The process for getting a retirement visa is relatively simple, but it can also become quite long depending on how, exactly, you want to spend your retirement (more on that in the next section). Good luck. Camping/rustic countryside trip over the weekend $50. Three-wheeled tuk-tuks can be loud and hot, but they are affordable, and they do have a certain charm. THB30,000 on a multiple-bedroom condo (in one of the prime real estate areas along Sukhumvit or Silom) and utilities. Chiang Mai sounds like a city to investigate. Right okay. And for a single person, $2,000 a month would go far. For a better experience, please enable JavaScript in your browser before proceeding. Good luck to finding somebody who is nice for you. He warns that driving in Thailand is dangerous and death rates from crashes are high. The so called Free trade agreement where products like Cheese and wine from Australia for example still end up with a 300% local tax stamped onto their price, when there should be none hence free trade. ), the people, the infrastructure and healthcare!!! Thaipod101 is the best way to learn Thai online. Ive been living & traveling in Thailand for 14 years. Im pretty sure well be back and forth a lot even if we live in other countries. First, you have to obtain a non-immigrant visa by providing the Thai consulate with your passport and proof that you have enough funds. We may actually do more than one country if everything works out OK. Sure, you can come by anytime when we move over. I have two kids. If he had to rent, itll probably be closer to $2,000. I would like to take a year or two in retirement and stay in Ecuador or Chile, then another year or two in Spain or Italy. The country has a rich culture with delicious cuisine and friendly people. I live in Doi Saket with my Thai wife and we LOVE IT! But, apropos of the study, the 70K may be low for Bangkok, particularly given the maintenance of a living standard. Foreign brands that are licensed to be produced in Thailand like Heineken, Tiger and San Miguel Light are available for slightly more. Its working well for them. Try one thing at a time until you acclimate to the local food. Taking classes keeps your mind sharp, helps you network and may even be free. 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. 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. Retire Earlier on Less. I have a great relationship thanks, we live between Thailand and France, and have a beautiful four month old daughter. I love Italy. Foreigners cannot own land period. However, financing is normally unavailable or difficult to obtain as a foreigner. . I have a friend who lives in Thailand in a beach house with 2 other people, he said the cost of expenses are barely $500 for all 3 of them, and this includes food and lodging. Why did you have to write about this? Probably have to cut back a little while were in the expensive countries. One of my uncles had a stroke a couple of years ago and went the private care route. we been Thailand over 30 times with kids so far. Utilities are usually paid by tenants, although extras like Wi-Fi and cable TV are sometimes included in the rent. One unique kind of street food is fruit. Even with the insurgency in the far south? There are many temples, festivals, and activities to do around Chiang Mai. I only speak english and it is very easy to get by here with english. So you're looking for a woman about. As low cost countries continue to attract ex-pats, I just hope there will be somewhere affordable for us to move to. I will admit that I am neither frugal, or spend thrifty, regardless of whose dime I am on, I always opt for what I like and make no reservations or excuses about certain indulgences. Most contracts are for a year, but six-month leases are also common. Enjoy! You definitely can live cheaper; I just havent figured it out yet and still learning. 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). It's very helpful. To qualify, you must be 50 years of age and be able to show an adequate income from outside Thailand or deposit 800,000 baht ($25,400) in a Thai bank. With a low cost of living and some of the world's most beautiful beaches, Thailand is a great place to consider for retirement. You're probably thinking that Portugal, Italy and Mexico look like pretty good options, but you like Asia, right? If you start investing now, youll learn more about investing. To make things easier for you, Ive compiled a list of those I use below. I think it makes perfect sense to retire somewhere thats more affordable. 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). Thats a big issue for foreign retirees. Im sorry, but Im not familiar enough with the city anymore. I would say Chiang Mai offer me nice environment with nice people that still lingering in my memory. Even Thailand appears to have made it much more difficult to gain permanent residency in recent years. I have to complete an irish tax return for 2021. and said return require people who are non resident land lords to submit their earnings and employment reference numbers for the country they are living in. 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. But for the many who have enjoyed paradise on the cheap, their dreams are ebbing away as the country opens up to a wealthier class of retirees. Not as an retirement option but for living in general as a lot of places are just so much cheaper than the US. George Town, Malaysia. In the beginning stages of dating in Thailand, you will often encounter many red or green flags from the investigation. Ill have to visit again. 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. Heres what to consider before moving to Thailand for retirement. Check out the reality from someone who knows before you decide your romantic view of a foreign culture is the truth! Ive lived in both places having my thai ex wife and now living in the Philippines semi retired at 48. Personally Im a big fan of moving internationally to facilitate retirement. 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. This should be done in January. We may receive a referral fee if you sign up through the links on Retire By 40. Sign up to receive new articles via email. I thought it would actually cost less to retire in Thailand or the Philippines, but its actually cheaper in the US for me right now since I know all the budget areas although of course I cant afford seafood like I can in the provincial beach town of Bolinao. Some of those that I've seen would stretch the cooking requirements for Ramen and a beer. Once your retirement visa is nearing expiration, you will need to apply for a visa extension. You could rent the same motorbike for about 3,000 baht ($95) per month. Hopefully, thats an unfounded concern on my part! + Open a Thai Bank Account Yeah, some US locations are quite expensive. The food (fresh herbs, spices, fruits and veggies on every road side! , Thanks for the great article! Locals who eat out every meal at cheap food stands or take out can probably keep it under $200/month on food. This time, Ill update the post with 2021 numbers and give more examples. He relies on football and basketball internet packages for his U.S. sports fix. I do like Vancouver, but its super expensive. For flexibility and a sense of purpose, consider these jobs for people over 50. You can process the paperwork yourself and pay about 2,500 baht ($80), or you can seek help from an attorney who will charge 10,000 to 15,000 baht ($318 to $475). For example, you will need to provide proof of address, copies of a bank statement and pictures of every page of your passport. Some would argue that for not too much more you could live in Portugal, Spain, Italy or Greece. There are downsides to Thailand, perhaps the biggest being health and safety. I've used one for 4 years. Bowen also notes that while Phuket is great for single men, it may be less appealing for others. 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. And considering the outcome, is it cost effective to retire in Thailand. The same study estimated that a retiree needs $515,742 in the UK, and $601,489 in the USA (over the 14-year period). Thailand's foreign retirees see their good life slip away, Pattaya has been popular with foreign expats and tourists since American servicemen flocked there during the Vietnam War. Keep in mind that there are also other affordable, international destinations where you can spend your retirement. Its the same in Malaysia. Please review our NET Paid monthly or quarterly One of the most important decisions you will ever make in terms of retiring in Thailand is where you will live in the Kingdom. My parents own a home in Malaysia that I will inherit at some point, I may still decide to return to Malaysia when the time comes. 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. 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. Imported stuffs are expensive so I usually send cargo boxes of stuffs to the Philippines: like ten cargo boxes through a Philippine freighter like LBC which gives you a 24 by 20 by 20 box, unlimited weight for 55 bucks door to door. I like South America too. You will also need separate visas or permits if you want to work, volunteer or travel out of the country at any point. I would be so fat if I retired in Thailand! And, like you, were also waiting for that big mega-thrust earthquake! Unless you become Thai you wont be able to live like a Thai. Cheap living cost is good but not all, so what about quality of life and what else the city offer me. You can probably find a condo for around 2 million baht. A forum community dedicated to expatriates and enthusiasts. Health insurance is still a big question here. Thanks for dropping by. You could create a retirement overseas plan that allows you to enjoy the best months of the year in Thailand. They have pensions and its much more affordable to live in Thailand than in Japan. I had visited Bangkok twice and stayed 3 weeks each visit. of those are not designed for the same living/cooking/entertainment/working standard most retirees would be accustomed to. Share a table. If you have been to Bangkok, you know it is extremely hectic there. Though I feel, if one tries local Thai cuisine, it will be cheaper (as you mentioned) and Japanese restaurants are expensive everywhere. 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. This is awesome! If youre interested, it may be worth consulting with a financial advisorbefore actually making your move. Its a long way off though so there might be a lot of changes by then. These are some of the things the wifey and I are considering now. 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. 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. Id probably look into homeschooling if we move to Thailand while he is in school. website. Our children and us really enjoy the universe for our bedroom. How accurate do you think this study is, and is Thailand still your preferred choice for retirement? 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/. According to March 2022 Numbeo, a site that collects cost of living data from around the world, the average cost of living . See the Retirement Options for Foreigners in Thailand. For many, living expenses may be as low as 40-50k per month. Thanks for your comment. Returning to the same vendor again and again is a great way to make a local friend. Takes 2 minutes. Please let me know why i m thinking is correct? Its a great way to explore and get to know other parts of the world. Cheap hotels in Chiang Mai with daily room servicing are around $80 USD per week. The rent from your condo (assuming it was paid off by then) would supply more than enough money to live on so you could leave all your other cash invested. There is no public health insurance for expatriates in Thailand. + Best Visa Run Option, Contact |Privacy Policy|Site Terms & Disclaimer|Media Pack. Healthcare is important to factor into your budget. We saw over 235 falling stars. I would rent for a while before buying. You also need to have a valid passport that doesnt expire for at least one year. I agree. Driving to Southern Thailand would take a couple of days. 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. A more likely scenario is having the equivalent in pension payouts over the 14-year period. Enter the country on this visa. Even if you can file the taxes on your own, everything is in Thai. All investing involves risk, including loss of principal. Moving overseas is in our family plan. This leads us to todays question of what it is like to be a single man living in Thailand? No stomachache or diarrhea. My dad guesses they spent around $25,000 to deal with the stroke and the aftermath. Your email address will not be published. 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). Perhaps when medicare kicks in so I dont have to worry about medical cost as much. Kindly break down your monthly budget and how many people it supports. The Thai baht rose to a six-year high against the dollar last year to become one of the world's most stable currencies. 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. Actually, I dont know that much about Chiang Mai. Ill probably do that again next year. When you purchase through links on our site, we may earn an affiliate commission, which supports our community. Thais generally know a little English. But is it a good fit for retirement? Among Bowens family, only his daughter has visited. SmartAssets services are limited to referring users to third party advisers registered or chartered as fiduciaries ("Adviser(s)") with a regulatory body in the United States that have elected to participate in our matching platform based on information gathered from users through our online questionnaire. 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. The upstairs bedroom is designed like a open tree house. I dont even spend $4000 a month in my Washington DC suburb and I pay mortgage and child support. Tinder and other popular dating applications are booming in Thailand! Less than a minute. And almost 100% will never take the effort to learn the language of their adopted home!!! I might have to drop by and say hi when were over there. 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. I know all the bar and restaurant owners. They are easy to drive, maintain and park. Skype would help a lot there too. I have so many folks asking me what it costs to live here in Chiang Mai. Dont worry about it. Lets take a look at the perspective of a Thai woman. Your email address will not be published. How do I make it last? While not the cheapest country in Central America, Costa Rica still does have a much lower cost of living than the U.S. Therefore, as an estimate as a single man living in Thailand, you would need at least $900 $1200 a month. Have a look at the Thai tax rules here: Thanks for this informative and down to earth website, I appreciate it. I have heard many men are going to The Phillipines to meet younger women and it seems easier there than in Thailand. It really depends on you. However, other countries in SE Asia aren't immune to these problems either. I guess it all depends on which country I can make my dollar stretch the most. To see how far your benefit could take you, try this. They dont keep track of every dollar so this is just an estimate, but they generally spend about $1,300/month and live quite comfortably. Twenty years isn't too much of an age gap given your age. Thailand is not only a country that Id love to visit, but also one that I strongly consider retiring to. 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. 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? Expat Forum For People Moving Overseas And Living Abroad. We are Indian but grew up at California . Thank you Molly! Just eating out. I guess they have pensions and dont mind spending it to have a more luxurious retirement. We sleep with are children on the balcony at least half the year. You didnt include the cost of utilities, internet, phone, etc for Japanese retirees; are the utilities usually included within house rent? Stray dogs are everywhere. A new Yamaha Fino automatic scooter can be purchased for 44,000 baht ($1,400). But I think 70k a good monthly amount to aim for if you are considering retirement in Thailand. Main thing attract me is very good maid and I and my husband getting old do not want to keep working in the house. Thai culture is also quite different from U.S. culture. Have a question? It all depends on what happens, I guess. Visit more than once. I would love to have 70,000 Baht ($2,333) for retirement in Thailand. Whew, I dodge that bullet. Here's what you need to know about retirement in Thailand. He has opted out of Medicare and no longer pays premiums. There are many reasons why expats choose to move to Thailand; this includes the beautiful weather and the stunning scenery. Sorry to hear that! There are no guarantees that working with an adviser will yield positive returns. That is generally a sign of good food and it wont make you sick. I plan on retiring in the U.S. and traveling to Europe and the mediterranean. However, if you can choose to eat the local foods and not go to 5 star restaurants, its not too bad, Healthcare in Malaysia is a lot cheaper than the US and is just as good. I guess my tastes must be more on the simple side! My hubby is 58 and i m 54 and we want plan to get out from here. Yikes! However, do not expect to find English to be spoken or understood everywhere you go. $3,000 per month seems to be top spending there for complete luxury. In my opinion, I believe the Thais are the friendliest people I have had the pleasure to meet. Hi! 5. Its just not for everyone.. However, Im also looking in to retiring in South America. Foreigners have to spend a lot of money to get a retirement visa or fly home periodically. Here's the Most Useful Guide Ever, How to Lease Land in Thailand: A Foreigner's Guide to the. Many of those retired folks live part time in Thailand. Thats just one person. I even have thoughts of just doing that (going back to Thailand) until the well runs dry and then saying bye-bye to this Earth. You can follow her on Twitter @SilviaAscarelli. One last question, are you honestly saying that your parents totally rely on the public health system? You'd pay tax on all of that on your US tax return, not in Thailand. Current market conditions bring both opportunity and risk. 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. The cost depends on the location. I have probably mentioned this before but 10 years ago when I lived in Phuket with my girlfriend for a year we managed to get by very nicely on 39K Baht ($1300) a month. Savings aren't static, even though it might seem that way if the money is just sitting in an account. Vendors offer fresh pineapple, mango, watermelon and even stinky durian. I think the Thai government prefers short-term visitors. This application is similar to the initial application with some additional requirements. in the healthcare column. Maybe you should get a hotel for a week or two to familiarize yourself. These types of houses stay cool based on a design that allows cross breezes along the ceiling. Hair cut with shampoo + scalp massage $7 men, $20 women. An average Australian table wine that would cost about $8 in the United States is $27 in Thailand. A recent study carried out by NetCredit estimated that a person needs approximately $390,000 (US) to retire in Thailand. My dad just got a 1 bedroom for about 1.5m. A health savings account is a beneficial tool for retirement planning. But it only works in favour of Thai goods being exported!!! $1200 on food cost for a couple; not counting drinks/beverages) is quite high. We would recommend that a bare minimum for living costs in Thailand should be closer to $1,200 to $1,500 per month. Originally I am indian and now me and my husband getting bored at usa . Some have gotten around the issue by creating a Thai company and buying the house in the companys name, but the Thai government has been increasingly looking for this type of fraud. I really want to visit Thailand and it sounds like its extremely affordable. He knew no one in the country. If you are an American citizen you are allowed to own 1 rai of land. - irresponsible but honest thoughts. Bowen was last in the U.S. three years ago and says he uses Skype and Zoom to keep up with family. Great and informative post as usual; especially it helps me a lot as I plan to spend sometime in Thailand myself after I retire! The only problem is the local people are really struggling. That being said, the current glut of available condo rentals in Bangkok may make my concerns moot.

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