Share a table. It did for these FIRE pioneers living in Mexico. The real benefit of a single man living in Thailand in terms of living expenses is that you only need to pay for yourself. It's impossible to say exactly as the final rate will depend on the amount and what type of income it is considered. Hahaha! Many Thai women are interested in foreigners for love, fun, or both. Surging baht and new rules dull the country's allure for budget-minded expats. We go out a couple nights a week and always run into friends, he says. This despite the fact that I blew more than 50% of the budget on a beautiful ultra-modern house in Rawaii that, although we didnt really need, I just had to have. A new Yamaha Fino automatic scooter can be purchased for 44,000 baht ($1,400). One unique kind of street food is fruit. These issues can become a threat to the safety of children. Before considering a move overseas, ask yourself if you will find the reality of life in Asia thrilling and invigorating or intimidating and stressful. I believe the entire text of the Thai wiring code is: "Don't let the smoke out." Joe. Quality health care is widely available in major Thai cities at affordable prices. That said, for a single person in Bangkok, Pattaya, Hua Hin, Samui, or Phuket, paying rent, I still think you could live quite well on 50-60k per month. It would be great to visit the surrounding area. The grocery and restaurant cost seems a bit high, even comparing with US standards. JavaScript is disabled. When you retire in Chiang Mai you can expect to find large numbers of expats and retirees based in the centre of the city. Enjoy! What you stated is what all of the lawyers will tell you because they make good money setting up these companies to get around the law and which are illegal. The Best Affordable Places to Retire Overseas in 2021. We have almost no mosquitoes year round. And, like you, were also waiting for that big mega-thrust earthquake! I use Thaipod101. 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. One of my uncles had a stroke a couple of years ago and went the private care route. We saw over 235 falling stars. Hi Joe, this post brought back some great memories from when Sally and I visited Chiang Mae a few years back. A cursory search shows that even the most open countries, such as Ecuador, Panama, and Mexico, seem to limit long term stays to 180 daysat least in terms of convenient applications or process. 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. Who the hell are you?! I agree. You could rent the same motorbike for about 3,000 baht ($95) per month. Thai people can go to the public hospital, but the wait is very long. 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. Most said preference, but upon digging deeper, some would say that the local men are not good and cheat, and therefore, they prefer foreigners who they see as being more loyal I would add that this is a generalization, but this is what they mentioned. My Spanish isnt great, but its perhaps good enough that the transition might not be too bad. How in the holy hell do you spend $4,000 per month without living at least somewhat extravagantly? She shoveled snow all day yesterday. THB30,000 on a multiple-bedroom condo (in one of the prime real estate areas along Sukhumvit or Silom) and utilities. Click here. Id like to live there for a few years too. Thats a big issue for foreign retirees. He thinks itll be cheaper if he needs more healthcare. I think it might work out well for a retired couple with ties in Asia though. Ken! They can always come visit us if they miss us. You also need to have a valid passport that doesnt expire for at least one year. Leo is planning to move back to the US because he has Medicare benefits there. Im not sure, but I dont think its that high. 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. 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. I really love your comment. Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century. Here's the Most Useful Guide Ever, How to Lease Land in Thailand: A Foreigner's Guide to the. Dont worry about it. Upon signing you'll typically hand over the first and last month's rent, plus a security deposit of one month. This time, Ill update the post with 2021 numbers and give more examples. Thats just one person. My taste is very simple too. Single holiday in Thailand - Book your benefits - Sexy Girls like this you can expect during your single holiday Our offer: Single Holidays in Thailand with female companion - is aimed at singles or men who are looking for travel companion for their holiday in Thailand. Were actually considering retiring in a more expensive country (Germany, Austria, Switzerland are on the list), but we dont know much about how wed go about doing that especially since we dont have any family or other ties to those countries other than that we like them. Good luck with the resort. He knew no one in the country. One other consideration is relative civil stability. They are usually friendly and helpful and will fill in the form for you. 90% will never own a car. Chiang Mai is cheaper than Bangkok, but it sounds as if it isnt THAT much cheaper any longer. They have pensions and its much more affordable to live in Thailand than in Japan. How do these things compare in Thailand or other locations?. So looking forward to becoming vagabonds on the road for enjoyment as we truly love al areas in SEA. 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. The retirement visa is for one year and must be renewed annually. 1-Year Thai Retirement Visa (Multiple-Entry) - $153.32. Not too mention fantastic restos of any and every type of cuisine! 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. The content Anyway, I would love to live in Chiang Mai for a few years. 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). What am I still doing in the US!? For these reasons, Thailand can be a top choice for part-time retirement overseas. It seems like they keep changing it.) All the lessons cost some money. The original retirement study can be found here. In the meantime we are preparing to sell our home in the US and find an apartment for the next year until I can finish up the project. This amount covers most areas, but if you are situated in Phuket or Bangkok, a single man would need at least $1200 or more. 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. So no houses unless you are married to a Thai citizen (I think.). Also, we do not eat at home..ever. The figure ($390,000 / 11 million Baht) breaks down to just over 70,000 Baht per month. I would love to retire in Italy for a few years too. Thailand does seem very affordable and buying places and renting them out to others would be a nice income stream. With the 2008 financial crisis still unwinding in a slow-motion disaster, its unclear what the final outcome will be. Some old geezer with a pension! We could get by on less than $1,000 per month in Texas if not for taxes and insurance. Thailand is a famous destination for retiree's, digital nomads and single man travelers. COMMUNICATION: You'll be hard pressed to find a Filipino who cannot converse fluently in English. I dont see many retired couples or single women retire here, he says. Canada is also a good option for health care. Need an international bank account that holds multiple currencies and lets you transfer, receive & spend wherever you are, with a MasterCard. 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. For example, its hard to get really good rice in Thailand anymore for example. 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. We may actually do more than one country if everything works out OK. Sure, you can come by anytime when we move over. 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. I jest. No problem. These are some of the things the wifey and I are considering now. Retiring in Thailand sounds amazing, but I would just like to visit there to start. Its not as great as most people think. Then you have to be able to speak Thai to not pay an inflated price here and there. Even if you can file the taxes on your own, everything is in Thai. Rents are around 70% lower on average. Returning to the same vendor again and again is a great way to make a local friend. Looking for an apartment to rent or a home to buy? Low costs are a big part of the appeal. Thaipod101 is the best way to learn Thai online. I'd be happy to do that--but how? Leo had 2 cataract operations last year. For more active retirees, you can visit beautiful temples or go for a hike. Considering the people/culture, weather, variable living standards, and beach get-away options, I think Thailand is still value for money. There are many variables but I think 70k isn't far off the monthly figure for the average expat. There are four steps to acquiring a visa to retire in Thailand. Your email address will not be published. For Thais, ghosts are real, and they're present. Healthcare is important to factor into your budget. The cost for that Japanese food is STILL about 30 to 40% of what I pay here in the US. The city also gets over 10 million visitors in 2019 so they are used to foreigners. Retirement Options for Foreigners in Thailand, http://lovinglifeinasia.com/my-cost-of-living-in-phuket/. Cheapest Way to Send Money to Thailand, 4. We could get by on less than $1,000 per month in Texas if not for taxes and insurance. Food carts are a way of life in Thailand. My dad just got a 1 bedroom for about 1.5m. thaiembassy. It's easy to criticize this study for what isn't factored in, and the fairly simplistic financial calculations it uses. My dads cost doesnt include rent because he own his condo. But Im biased, because we did it. I like reading about geo-arbitrage even if it isnt a place that Im likely to move to though the $10 massage is convincing. A rotisserie roast chicken costs just 140 baht ($4.50). It all depends on what happens, I guess. I think it makes perfect sense to retire somewhere thats more affordable. Find out more here http://resilientman.com/retire-thailand/. There are many variables, including living rurally, which is much cheaper. I still have families there though so maybe we could get some tips from them. Yikes! The cost of care is much more affordable there than in the US. I think the cost of care just about everywhere is much more affordable than in the US. BKK is so busy. The lady is getting a nice man with more baht who does not cheat on her and I get a younger woman. After all that, return home, count your smiles, friends, kisses, and maybe even a tear or 2, and then dig deep to see what it is all worth. A recent study carried out by NetCredit estimated that a person needs approximately $390,000 (US) to retire in Thailand. And so it begs the question: is Thailand value for money when it comes to retirement? That said, unsophisticated crime is rampant in Ecuador. 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. Especially the private hospitals. Living cost was much cheaper than BKK, Pattaya and Phuket. The biggest import duties are slapped on wine, causing outrageous prices. For a better experience, please enable JavaScript in your browser before proceeding. Twenty years isn't too much of an age gap given your age. The cost of living is low,which means you can stretch your retirement savingsfurther. Anyway, Chiang Mai is a great place to visit. This trip is very strange. - irresponsible but honest thoughts. Hi, My name is Tom and I am 49 and live on Ko Lanta Island in Thailand. During the hot season, temperatures can stay above 100 degrees Fahrenheit for weeks at a time. http://www.expatistan.com/cost-of-living Let say I can afford house maid when living in Chiang Mai but cannot in other city. 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? The cost of alcohol can also add up quickly. With its low living cost, modern infrastructure, and high-quality healthcare, Chiang Mai was ranked as the fourth-best "affordable place" to retire overseas for Americans. Ive been living & traveling in Thailand for 14 years. Thais take ghosts seriously. Thailand is only $125,000 less than the UK, but the UK is cold, grey and rainy for 6 months of the year! Until recently, foreigners with longer non-immigrant visas werent required to have health insurance. In my opinion, I believe the Thais are the friendliest people I have had the pleasure to meet. Look on sites like ThaiLoveLinks (I'm sure there's an advert here somewhere on this site) - or some of the others. A health savings account is a beneficial tool for retirement planning. 1. Most carts are attached to a motorcycle, and many operate from the same spot for decades. Where should I retire? i am setting aside $1000/month for paying down debts primarily student loans. Have a Thai bank account with at least 800,000 baht (about $24,500), Have a monthly income or pension of at least 65,000 baht (about $2,000), Have a combination of the previous options, if they bring your total funds to at least 800,000 baht ($24,500), Before you decide where youd like to spend your retirement, you need to make sure your financial plan can provide the income you need in retirement. It is a bit hot here, but Id take 90 degrees heat over snow any day. This leads us to todays question of what it is like to be a single man living in Thailand? There were days I ate no normal meal but all deserts and coconut ice cream, and I was all right. Utilities are usually paid by tenants, although extras like Wi-Fi and cable TV are sometimes included in the rent. question with a Yes. I don't plan to travel outside Thailand once I go back (unless I win the Thai Lottery!). Bumrungrad International Hospital hosts a million medical tourists per year. My first and most important task is to complete an intensive Thai language learning course. The place I live in the US loses power significantly more frequently for a significantly longer period of time than any I've experienced in Thailand. Great and informative post as usual; especially it helps me a lot as I plan to spend sometime in Thailand myself after I retire! Try one thing at a time until you acclimate to the local food. Therefore, we will be exploring these two categories from a single mans point of view. Canada is a great option too, but its a bit cold up there for my taste. This year, I spent 6 weeks in Thailand to help my parent. I guess it all depends on which country I can make my dollar stretch the most. 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. While "adequate income" isn't formally defined, unofficially it's about $1,800 a month. 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. Inflation is also quite high in Thailand. Ill have to add up my yots for a monthly figure! Buying monthly bus and train passes. I do not have any pension and only recently have begun saving (thank you Covid 19)! But. 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. Paid monthly or quarterly. Sunrises and moon-rises are so good. I don't see what is wrong. Find out with a quick quote here from Cigna. The lifestyle also makes a big difference. The cost of living is low, as is the cost of healthcare. Here's a look at the most recent IRA and 401(k) tax reform laws. 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? Well see how it goes. Beer can be affordable if you drink locally produced brands such as Singha, Chang and Leo, which sell for about 30 baht (86 cents). Ill probably do that again next year. I have been thinking about retiring in Thailand as the cost of living is lower than that of my home country Malaysia. To qualify, you must be 50 years. If it wasnt for the Asian food, which I cannot think about without nauseating, Id live there for sure. 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