I'm not judging either way. And, like you, were also waiting for that big mega-thrust earthquake! The Thai baht rose to a six-year high against the dollar last year to become one of the world's most stable currencies. Also, the other tax issue is US taxes. This estimate often only includes the basic living expenses and does not consist of extras such as sending money back home, Netflix subscription, etc. on this page is accurate as of the posting date; however, some of our partner offers may have expired. My dad is picky about some stuff so thats why his cost is pretty high comparing to locals. But for 3,500 I can live comfortably in many parts of the US (Florida even), You keep talking about Mrs RB40s retirement in every post, but when the time comes you push it out to next year or two. For example, international foods often cost significantly more than buying local produce or eating out at a small, local restaurant. Smog is a huge problem. You definitely can live cheaper; I just havent figured it out yet and still learning. Nonetheless, finding the right one is often the challenging part. He knew no one in the country. This includes all domestic and international income. This leads us to todays question of what it is like to be a single man living in Thailand? Might require some additional paperwork on your US return. And almost 100% will never take the effort to learn the language of their adopted home!!! Having a Thai girl by your side makes it possible to get to get to know the Trouble is that since the property is in her name (his if you are female), they can jut divorce you without warning and leave you fat, dumb and not so happy. Hopefully, Thailand will open up soon. Isnt that why you moved? There are lots of reasons why you may want to retire in Thailand. Ken! Ah that old chestnut. Good luck with the resort. 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. A visit to the dentist that includes a cleaning and cavity filling is less than $30. 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. But how does this translate to the real world? Sorry, Im not that helpful. 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. Alas, as it always is the case in any kind of FIRE analysis anywhere: The gigantic elephant in the room is always health care cost. I enjoyed my three trips back there in the 80 and 90s. Ill check with my dad. Either way, the amount required is still the same. I guess my tastes must be more on the simple side! Have a question? But this is surprisingly accurate. Thailand does seem very affordable and buying places and renting them out to others would be a nice income stream. Leo had 2 cataract operations last year. Everything just keeps getting more expensive. 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. 10 reasons why black men should travel to thailand expat. Id probably look into homeschooling if we move to Thailand while he is in school. Thai deserts were my favorites. 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. I think Thailand is actually much easier than 10 years ago. 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? - irresponsible but honest thoughts. 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. Photo credit: iStock.com/Rawpixel, iStock.com/saiko3p, iStock.com/primeimages. They probably could cut costs a bit. The cost depends on the location. I do not agree on counting dimes on a daily basis to save a penny so that at the end of the month I can splurge on an indulgence either with saved change at the end of the month. I still have families there though so maybe we could get some tips from them. To make things easier for you, Ive compiled a list of those I use below. 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. The kid can go to an international school, but it would be quite expensive. Otherwise, just move to Florida. The upstairs bedroom is designed like a open tree house. Great idea to use it as a base for exploring Asia. 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. It is rather divorced men who do so. How far away to the beach driving? Also, I dont have to deal with any visa problems. That sad with all that there is plenty of great stuff to surprise you that is not quantifiable in monetary terms. $3,400 per month is approximately the pay out for 100% VA disability. 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. Nice article. Visit beforehand. Get a 90-day single entry Non Immigrant O Visa from your local Thai embassy. Twenty years isn't too much of an age gap given your age. A new Yamaha Fino automatic scooter can be purchased for 44,000 baht ($1,400). I need to be close to water, so perhaps there are lakeside houses? Learn how to stop stressing about money matters and start enjoying your free time with these pro tips. Join thousands of others who receive my monthly roundup of content & insider tips on how to survive & thrive in Thailand. #1: Never live alone. How do these things compare in Thailand or other locations?. You could create a retirement overseas plan that allows you to enjoy the best months of the year in Thailand. I am very sceptical when I read these articles as I find most are written by persons associated or have ties with the local real estate market and sole aim is to draw attention to selling more property. Thais generally know a little English. And weve got an awesome (imo) public healthcare system. We're back from our retirement research trip in Thailand and I've got good info to share. , Thanks for the great article! Find out how it stacks up against North America, Europe and Asia. We moved long before retirement, but now were settled, have a network for friends, and ready to ease into retirement when the time comes. + Get COVID Insurance Not everyone will require a moped, but some may want a car. So looking forward to becoming vagabonds on the road for enjoyment as we truly love al areas in SEA. If only we were able to take more time off! Its a great way to explore and get to know other parts of the world. Living cost was much cheaper than BKK, Pattaya and Phuket. There is no public health insurance for expatriates in Thailand. This should be done in January. 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. You should learn how to count at least to 10, direct a driver, order food and ask directions to the bathroom. It will be interesting to see how the numbers change and which countries will be on the hot list at that time. While "adequate income" isn't formally defined, unofficially it's about $1,800 a month. My mom, in particular, doesnt like to spend money at all and lives a simple lifestyle. try calabria right down southhad an apartment there for 6yrs.quite cheap can buy decent apartment for 70,000 euros.but it became boring. I have families in Thailand and they can help me figure things out when I move here. 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. We then want to find various places in Thailand and Vietnam where we can enjoy staying anywhere from 3 to 6 months at a time. (Unless you live in the neighborhood) Financially? No content on this site may be copied without written consent from TheThailandLife.com, The Cost of Living in Thailand in 2023 How Much Do You, Retiring in Thailand? You have to provide a letter from the bank showing proof of deposits. When you live in a developing country, you need to be a little more cautious. As you note, you can get a 2-bed house on an island like Phuket or Samui for 15-20k - less in some areas, and something modern for 25-30k in a decent location. 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. 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. Where should I retire? Lastly, you will need to meet certain financial requirements. Yeah, its not that cheap to live a comfortable lifestyle. Other monthly costs are likely to add up to between $600 and $700 per month. There are about 130,000 people living in the city itself and nearly 1 million people in the surrounding sprawl. Dont worry about it. Joe. You mentioned a condo would be around $50,000. Now you can get a retirement visa thats valid for a year. How Much Do I Need to Save for Retirement? My wife's place in rural Issarn is where we would settle. Main thing attract me is very good maid and I and my husband getting old do not want to keep working in the house. Thailand also has agreements with a number of other countries to ensure that you dont pay taxes twice on your income. You can claim the tax paid on bank interest in Thailand by going to the tax office and filling in a tax return. Foreigners cannot own land. If you dont go looking for trouble, you wouldnt even notice it. There are four steps to acquiring a visa to retire in Thailand. You didn't shock me at all. is it wise to split it in half and put the other half in investing? 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. 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 ). Wise is the cheapest and fastest way to send money to Thailand. A forum community dedicated to expatriates and enthusiasts. Anything like that is very expensive in Thailand as they know only the non-locals will buy it and the price is artificially high. Wow, thats really interesting. As to condo ownership the total ownership by farang cannot exceed 50% but if you own it, they wont force you to move if thru some quirk (a bit of tea money can work wonders) the farang ownership % exceeds 50% I spend about 3 months/year in 6 week segments 6 months apart in Thailand generally in Pattaya and traveling to Chanthaburi every other weekend and have a pretty good command of pa-sa Thai even if only 4000 words. We love the National Park system and now that we volunteer in the Oregon State Parks as well, we are happy campers indeed. Inflation is also quite high in Thailand. + Find a TEFL Course Good luck to finding somebody who is nice for you. Bumrungrad International Hospital hosts a million medical tourists per year. Once this money has been in the account for 60 days you can apply for a 1-year extension of stay based on retirement at a local immigration office. I would say Chiang Mai offer me nice environment with nice people that still lingering in my memory. And then there's expats eating for 100 Baht a day and staying in a 4k a month condo. 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. To rent a condo (2BR, 60 sqm) in Bkk will cost around USD 600 per month away from the city center, less if on the outskirts or in the districts. I think it makes perfect sense to retire somewhere thats more affordable. And then there's traveling back to home now again. For US$3,000, or THB105,000, a single person would live quite comfortably in Thailand. This may work for you if you plan to travel a lot or return home frequently. Bar $? I want the whole experience. 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. In Thailand they START AT 7 and go to maybe 15. Im not sure, but I dont think its that high. George Town, Malaysia. Is it so? As some of our long-time readers may know, my parents are semi-retired in Chiang Mai, Thailand. Most markets offer a wide variety of fruits, vegetables, herbs, spices and other cooking products. If you live on a budget at home, adopt the same budget in your chosen home, Eat as you would, dance as you should, and sleep in like everyday is a Sunday. To qualify, you must be 50 years. I use it and so do many of my readers. This is why I always recommend to people to put boots on the ground and search out accommodation. Healthcare is much cheaper in Thailand than in the US. The following two tabs change content below. Cheap hotels in Chiang Mai with daily room servicing are around $80 USD per week. Bowen spends $20 a month for high-speed internet plus $15 a month for an unlimited cellphone plan. I plan on retiring in the U.S. and traveling to Europe and the mediterranean. Cheap can buy decent apartment for 70,000 euros.but it became boring that with! 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