Hi! What is wrong with that? All you need is a valid passport and a return trip scheduled before you enter the country. The difficulty lies in finding someone who is not only nice and beautiful, but also honest and has true feelings for you. And then there's traveling back to home now again. Make sure you also have a 're-entry permit' before you leave the country. Its extremely helpful that they use USD and there was a sample budget up somewhere where Americans could live off of the average SS check ($1200) and have a maid and eat out all the time. When possible, ask a local how much the fare should be, so you know if you're being overcharged. In my mind the best option though is to just stick with a condo and be spared the legal hassles. 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. The financial requirements are: Bank account with THB 800,000 or. Those being how I live, and what I eat. No, I dont feel guilty. When you purchase through links on our site, we may earn an affiliate commission, which supports our community. 2016 update: I went to Chiangmai to check out a retirement resort and get an update on the cost of retiring there. Anyone considering a move should also make sure to research the Thai culture. I lived in Bangkok for 6 months. It would be tough to leave this close community at this point.. $3,400 per month is approximately the pay out for 100% VA disability. to learn how you can update your cookie settings. I really want to visit Thailand and it sounds like its extremely affordable. Comparative assessments and other editorial opinions are those of U.S. News It's a tonal language with a lot of dialects that make it even harder to understand than it is to speak. I personally quite like Vietnam, but I just don't get the same vibe there as I do in Thailand. We rent one for $500 a month. My dad rents several condos to Japanese retirees. The location makes a huge difference. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); This site uses Akismet to reduce spam. Keep in mind that there are also other affordable, international destinations where you can spend your retirement. There are four steps to acquiring a visa to retire in Thailand. But how does this translate to the real world? Oh and if you drink you will have to be happy drinking the awful mass produced beer (Heineken is one of the worst). Some people have a few beers twice a week, and others drink a few beers every night. 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). Now, he says, he and wife generally spend three months during Thailands rainy season traveling in Europe (COVID times being an exception). But, apropos of the study, the 70K may be low for Bangkok, particularly given the maintenance of a living standard. Not that I care since I eat at Thai spice level sure aids in the output, too. 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. So let's look at how neighboring countries stack up to Thailand. Chiang Mai and Bangkok are tourist traps and I think thats why the prices are so much higher. Ive been living & traveling in Thailand for 14 years. He also figured his job prospects werent very good, so there was no reason to stay in the U.S. I decided to throw the dice.. And in some parts of the country, farmers burn their fields from the middle of March through May to prepare for the next planting, creating air-quality concerns. If youre interested, it may be worth consulting with a financial advisorbefore actually making your move. Very little snow except at elevation of course. 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. The grocery and restaurant cost seems a bit high, even comparing with US standards. Its just not for everyone.. I use Thaipod101. Thai deserts were my favorites. 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. "Poor electrical wiring standards" lol "Poor" implies that a standard exists to make a comparison to standards elsewhere. Unless you become Thai you wont be able to live like a Thai. Actually, I dont know that much about Chiang Mai. Anything like that is very expensive in Thailand as they know only the non-locals will buy it and the price is artificially high. New cars are another one. The financial requirements are: Bank account with THB 800,000 or. Buying property in Thailand should not be taken lightly, although many have, both this government and the one which just passed has proposed changing the Law governing the legal loop hole used, that allows non-Thais to own property in Thailand. Thailand is only $125,000 less than the UK, but the UK is cold, grey and rainy for 6 months of the year! 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. Required fields are marked *. 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. Its not as great as most people think. I dont know how or if the Affordable Care Act will change this, but retiring before Medicare eligibility in the US and relying on privately purchased health insurance is pretty much financially impossible for all except the wealthy. Nothing major happened to me though. We saw over 235 falling stars. You spend $4000 a month in Thailand and you dont think thats extravagant? Other monthly costs are likely to add up to between $600 and $700 per month. We could get by on less than $1,000 per month in Texas if not for taxes and insurance. If you haven't done these things by age 50, it could be too late to do them well. Find out with a quick quote here from Cigna. 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. I would love to have 70,000 Baht ($2,333) for retirement in Thailand. To qualify, you must be 50 years. We may receive a referral fee if you sign up through the links on Retire By 40. We moved long before retirement, but now were settled, have a network for friends, and ready to ease into retirement when the time comes. One other consideration is relative civil stability. Put your thumb in the pie, your finger in your eye, and spend a night looking at the sky. I really love your comment. Canada is a great option too, but its a bit cold up there for my taste. Sometimes it makes more sense for one member of a married couple to keep working. Its possible to do this in Thailand or at a consulate in your home country. of course, I would have to keep 400,000 baht in the bank for the visa. I'm not judging either way. 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. tamsin - speak for yourself! Renting a scooter, and traveling once a month to some other country for 3 to 5 days. That is renting a furnished home that will allow friends to visit. You will need a work visa for that. If you want to move to Thailand The government requires that you have income of 65,000 baht deposited in a Thai bank every month; that's less than $2,200 at early 2021 exchange rates).. I think Indian food is also quite expensive in Thailand. Theyve been married for eight years. But it only works in favour of Thai goods being exported!!! I would be so fat if I retired in Thailand! The figure ($390,000 / 11 million Baht) breaks down to just over 70,000 Baht per month. 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. Did I miss anything? Retire Earlier on Less. I'd be happy to do that--but how? I,m single and spend 4000 per month. The native English speakers tend to be Australian or English, not American. Some would argue that for not too much more you could live in Portugal, Spain, Italy or Greece. Not in the short-term, but within 5 to 7 years. My dad said Thai products are cheaper in Thailand, but they export the best quality products. This is a great plan, Joe! Health care is excellent and the country is safe and . 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. 75% will never buy adequate medical coverage (will spend $1000s to fly home if needed, but will not spend 1/3rd of that for annual coverage that is 100% better than US medical services). Foreigners have to spend a lot of money to get a retirement visa or fly home periodically. One last question, are you honestly saying that your parents totally rely on the public health system? Most markets offer a wide variety of fruits, vegetables, herbs, spices and other cooking products. As an example, I have a good friend who is in his late 60s and is from the US. Many foreign restaurant owners offer by-the-glass wine promotions to attract diners. The people are generally friendly and understand that its a new culture for retirees, but its easy to make a faux pas. Indeed. The following two tabs change content below. That is generally a sign of good food and it wont make you sick. Theyre incredibly helpful. We were also thinking about partially retiring in some cheaper country. What matters the most is that living like locals is cheaper, but might be difficult at first. We like living in the city though. In the beginning stages of dating in Thailand, you will often encounter many red or green flags from the investigation. Jim has run his own advisory firm and taught courses on financial planning at DePaul University and William Rainey Harper Community College. They buy jewelry, luxury goods, skincare products, souvenirs, and who knows what else to take home (for use, gift, and resale.). For flexibility and a sense of purpose, consider these jobs for people over 50. So basically, taxes and insurance. Ill probably do that again next year. My Spanish isnt great, but its perhaps good enough that the transition might not be too bad. Like many second world countries, regular reports of police corruption may worry some, but these problems always seem to exist where it's cheap. I usually ignore this type of research because seldom is it accurate. And then there's expats eating for 100 Baht a day and staying in a 4k a month condo. Now you can get a retirement visa thats valid for a year. Wow, $500 for all 3 people? Have you researched and created a list of retirement destinations based on visa and permanent residency requirements? We may actually do more than one country if everything works out OK. Sure, you can come by anytime when we move over. Residents of the U.S., as well as those of a handful of other countries, are actually able to obtain five-year retirement visas, although the threshold to do so is more rigorous. In actual fact, there are many others, but from feedback, experience, and speaking to the expat community, these two factors often rank and are the top reasons single men move to Thailand. Enjoy! I dont know. They can always come visit us if they miss us. In Thailand they START AT 7 and go to maybe 15. Education is pretty limited. It should be fun for a few years though especially if you have money to spend. Either way, the amount required is still the same. Thats local, but its still expensive. Its a long way off though so there might be a lot of changes by then. Thats a law that dates back to the Vietnam war. Looking for an apartment to rent or a home to buy? 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. website. 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. Wine, he says its $15 for anything decent.. This article oddly makes Thailand seem like any other place. This will give you an idea. 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