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. For these reasons, Thailand can be a top choice for part-time retirement overseas. 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). Expat Forum For People Moving Overseas And Living Abroad. Hed been to Thailand before and knew he wanted to live by the beach, not in a big city like Bangkok. Come join the discussion about residency, taxes, documents, visas, travel, health care, finances, banking, classifieds, and more! Its the same in Malaysia. 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. Do they have good cheap massages in South America? 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. We're back from our retirement research trip in Thailand and I've got good info to share. Pete Bowen landed in Thailand in 2009 with a suitcase and a guitar, looking for a spot to retire. There were days I ate no normal meal but all deserts and coconut ice cream, and I was all right. The amount you spend on healthcare really depends on your health. 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. In the beginning stages of dating in Thailand, you will often encounter many red or green flags from the investigation. Inflation is also quite high in Thailand. And, if you choose to bring money into the country and give it to your wife to buy a house you are required to sign a legal document stating that you have no rights to the house in the event of a divorce. The cost depends on the location. You will also need separate visas or permits if you want to work, volunteer or travel out of the country at any point. 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. I always hear about how a couple can live on $1000 to $1500 comfortably on many different sites, and it just is not real. They are here for an extended visit so I thought Id take this opportunity to pick their brains on how much it costs to live there. Yearly singles tours in Bangkok see dozens of foreign guys hoping to find a Thai girlfriend during their solo travel to Thailand. Whew, I dodge that bullet. As low cost countries continue to attract ex-pats, I just hope there will be somewhere affordable for us to move to. THB30,000 on a multiple-bedroom condo (in one of the prime real estate areas along Sukhumvit or Silom) and utilities. There is a lot to see and do in the country. Malaysia? Is it so? Accommodation in Chiang Mai can cost as little as 2500 Baht or 75 USD per month for a hotel like room with attached bathroom. Im dual. Jim has run his own advisory firm and taught courses on financial planning at DePaul University and William Rainey Harper Community College. Thank you Joe. Anyone considering a move should also make sure to research the Thai culture. SmartAsset does not review the ongoing performance of any Adviser, participate in the management of any users account by an Adviser or provide advice regarding specific investments. Other parts of Thailand that are great places to live are even cheaper, and life can be cheaper yet in other parts of Southeast Asia, he notes. Ive lived in both places having my thai ex wife and now living in the Philippines semi retired at 48. What matters the most is that living like locals is cheaper, but might be difficult at first. I use both. COMMUNICATION: You'll be hard pressed to find a Filipino who cannot converse fluently in English. You need to pay taxes even if you dont have a work visa. 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. I would also add that many locals see foreign partners as being very kind. 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 ). If you start investing now, youll learn more about investing. Test your dream retirement spot for a few months before committing to it. 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. Well see. Though it has depreciated in the past two months, it is still significantly stronger compared to three or four years ago. Ah that old chestnut. The Pearl of the Orient is one of Southeast Asia's most livable destinations. Thais hold special ceremonies after the death of a loved one, as no one wants ghosts to remain at home. All investing involves risk, including loss of principal. A visit to the dentist that includes a cleaning and cavity filling is less than $30. I've used one for 4 years. 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. I think it might work out well for a retired couple with ties in Asia though. It really depends on you. 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 could potentially live a lot cheaper, as low as $1,000 a month, but you would probably have a difficult time. This includes all domestic and international income. We sleep with are children on the balcony at least half the year. Having a Thai girl by your side makes it possible to get to get to know the Get a 90-day single entry Non Immigrant O Visa from your local Thai embassy. I guess it all depends on which country I can make my dollar stretch the most. They have pensions and its much more affordable to live in Thailand than in Japan. I'd be happy to do that--but how? In addition, those with a Thai partner may be at an advantage in navigating potential problems and risks. Its up to her. I would love to retire in Italy for a few years too. I only speak english and it is very easy to get by here with english. People were friendlier he keeps mentioning the smiles hed get and he appreciated the countrys live and let live attitude. And of course theres the weather temperatures in the 80s in February, T-shirts and shorts every day. Thank you Molly! We saw over 235 falling stars. An important point that you mention is the cost of medical care in Thailand. I think the utilities probably cost another $100 extra. More privacy info here. A really good, informative website - thank you. 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 . Chiang Mai is a lot quieter than in previous years. For myself, and on my own dime (I am 56 and married), me and my wife live on $3000 per month. Ill have to add up my yots for a monthly figure! Upon signing you'll typically hand over the first and last month's rent, plus a security deposit of one month. Especially the private hospitals. Having travelled throughout Asia as both a professional, and a tourist, I understand the value between living on company time, and living on my own dime. Single Man Living In Thailand: Many travelers decide to live and retire permanently in Thailand, but why? I own property in ireland which i rent out and pay tax on profits. When you purchase through links on our site, we may earn an affiliate commission, which supports our community. Those with kids also have schooling to consider. As always, some will say it's high and others will say it's low. If it wasnt for the Asian food, which I cannot think about without nauseating, Id live there for sure. That's true. The difficulty lies in finding someone who is not only nice and beautiful, but also honest and has true feelings for you. Required fields are marked *. We been USA over 30 year and it is boring so we keep going Thailand . There is no public health insurance for expatriates in Thailand. I lived in Bkk 1997 2003 & visit every other year, last visit in Jan 2014. If only we could go back in time! + Open a Thai Bank Account Well see how it goes. 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. Itll be a lot worse later. We would recommend that a bare minimum for living costs in Thailand should be closer to $1,200 to $1,500 per month. For couples honestly, there are many beautiful young single women who would love to meet a foreign man. Less than a minute. Now I find USA very boring since been Bangkok and other part of Thailand over 20 time. First, you have to obtain a non-immigrant visa by providing the Thai consulate with your passport and proof that you have enough funds. Enter the country on this visa. Please let me know why i m thinking is correct? This content was commissioned by Nikkei's Global Business Bureau. They spend a lot more money than retirees. By continuing to browse this website, you accept cookies which are used for several reasons such as personalizing content/ads and analyzing how this website is used. Right okay. Many Thai people speak English. Its just not for everyone.. Global economic shifts have devalued some Western currencies and made Thailand more expensive. From what I have seen in Thailand, most non-Thais use the private system, yes it is cheaper than the USA, but where isnt? Your email address will not be published. The country has a rich culture with delicious cuisine and friendly people. I am currently check from net and it remains the same up to today, 35% cheaper than in BKK, Phuket and Pattaya. I do some research. Retire Earlier on Less. Im 73 and will only have my 401(k) after retiring. 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. You didnt include the cost of utilities, internet, phone, etc for Japanese retirees; are the utilities usually included within house rent? Learn how to stop stressing about money matters and start enjoying your free time with these pro tips. If my son decides to work at the university that granted him full scholarship for his master degree, I will more likely split my retirement between the States and Thailand. Chiang Mai is the largest and most culturally significant city in northern Thailand. Isnt that why you moved? Put your thumb in the pie, your finger in your eye, and spend a night looking at the sky. Best Parent Student Loans: Parent PLUS and Private. 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. From a financial standpoint, it depends on if your mortgage is paid back home and if your bills will be covered. Chiang Mai is cheaper than Bangkok, but it sounds as if it isnt THAT much cheaper any longer. You can probably find a condo for around 2 million baht. There are no guarantees that working with an adviser will yield positive returns. Dating in society has changed, and this also includes Thailand. Ill check it out. 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. But it only works in favour of Thai goods being exported!!! The following two tabs change content below. You spend $4000 a month in Thailand and you dont think thats extravagant? ), the people, the infrastructure and healthcare!!! The lady is getting a nice man with more baht who does not cheat on her and I get a younger woman. How do visa/residency requirements factor into your analysis, or at least for someone who lacks dual citizenship? We are Indian but grew up at California . That has changed. . When we retire, we lose a lot. How to avoid retirement shock. Instead of 800,000, youll need at least $3 million baht in a Thai bank account, and youll need it at least 12 months prior to your application. As you can imagine, there are many different stories and tales about dating in Thailand as a single man. Three-wheeled tuk-tuks can be loud and hot, but they are affordable, and they do have a certain charm. Utilities are usually paid by tenants, although extras like Wi-Fi and cable TV are sometimes included in the rent. http://www.expatistan.com/cost-of-living Let say I can afford house maid when living in Chiang Mai but cannot in other city. I would love to have 70,000 Baht ($2,333) for retirement in Thailand. Considering the people/culture, weather, variable living standards, and beach get-away options, I think Thailand is still value for money. Nauseating, Id live there for sure probably cost another $ 100 extra ex-pats... Find a condo for around 2 million Baht work, volunteer or travel out of the real... And William Rainey Harper Community College were days i ate no normal meal all! I can not think about single man retiring in thailand nauseating, Id live there for sure Thai ex wife now. Can be a top choice for part-time retirement overseas Thailand as a single man in. 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