Healthcare is the big X factor. Thank you Joe. I like reading about geo-arbitrage even if it isnt a place that Im likely to move to though the $10 massage is convincing. I visited Thailand twice in the last 4 years and I sensed that I probably end up moving to Thailand someday when the time is right. I will retire in 12 years looking for a place to settle down in Thailand with my foreigner wife. It is so amazing to live sea front on a quite island with a dozen islands in our view. It did for these FIRE pioneers living in Mexico. 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. Ive considered retiring outside the US, but it comes down to the same things others have said being away from family and friends primarily. Considering the people/culture, weather, variable living standards, and beach get-away options, I think Thailand is still value for money. $3,000 per month seems to be top spending there for complete luxury. + Get COVID Insurance I want to know, what people are saying and I want to be a full part of society there instead of being a tourist or bystander. Not as an retirement option but for living in general as a lot of places are just so much cheaper than the US. I looked into it a bit more and its best for foreigners to get an international health insurance policy. If you are an American citizen you are allowed to own 1 rai of land. Copyright TheThailandLife.com 2023. Just those few phrases will make life much less stressful. Answer (1 of 5): I lived in Thailand for seven years, and I've now been living in the Philippines for almost five years. The cost of living in the capital city of Malaysia, Kuala Lumpur is fairly high. Sometimes it makes more sense for one member of a married couple to keep working. I think you really should split it and invest some. ), the people, the infrastructure and healthcare!!! The cost of living allows a retired man the opportunity to live in a nice place while trying to make do on a fixed income. About a week ago we had a meteor shower. The retirement visa is for one year and must be renewed annually. Thats a law that dates back to the Vietnam war. It's true. It would be nice to get away once in a while, but I dont think Id like living in a secluded spot for long. 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. George Town, Malaysia. We have a home in Singapore that is fully paid and recently went through a lot of restoration. The following countries all work out cheaper than Thailand for retirees: Singapore is very expensive at $946,993, as is Hong Kong at $871,578. This trip is very strange. I lived there for half a year and its wonderful to live in the tropics. , Thanks for the great article! Like you say, I can't imagine Bali being much cheaper, and Cambodia always seems more expensive to me. Skype would help a lot there too. I have heard many men are going to The Phillipines to meet younger women and it seems easier there than in Thailand. 10 reasons why black men should travel to thailand expat. And although my girlfriend cooked most nights (Thai food) its just as cheap to eat out in Thailand. 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. Yearly singles tours in Bangkok see dozens of foreign guys hoping to find a Thai girlfriend during their solo travel to Thailand. How are you getting access to the free public healthcare? First of all, its worth noting that citizens of the U.S. and much of Europe do not need a visa in order to visit Thailand. Ride a bus, a train, and even a ferry. 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. And for a single person, $2,000 a month would go far. From when to retire to how much to save, here are expert-backed answers to crucial retirement questions. Global economic shifts have devalued some Western currencies and made Thailand more expensive. COMMUNICATION: You'll be hard pressed to find a Filipino who cannot converse fluently in English. Here's how that person could spend that amount each month. I personally quite like Vietnam, but I just don't get the same vibe there as I do in Thailand. Im very curious to find out because we are planning to live in Chiang Mai for a few years after Mrs. RB40 retires. Yeah, the food bill is a bit out of whack. At 60, I can allow myself to spend at least $5-8.000 a month, so money is not the issue here. Good private schools are expensive here, and that's where the balance is likely to tip in favor of living back home. I have families in Thailand and they can help me figure things out when I move here. They probably could cut costs a bit. 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. Jim Barnash is a Certified Financial Planner with more than four decades of experience. The food (fresh herbs, spices, fruits and veggies on every road side! Where do you live? This time, Ill update the post with 2021 numbers and give more examples. There are many types of insects, including mosquitoes, many types of ants and cockroaches (that can fly). Good luck with the resort. My hubby is 58 and i m 54 and we want plan to get out from here. Good luck! Once in Thailand, open a Thai bank account and deposit 800,000 Baht. As somebody who has had the opportunity to speak with both locals and expats I will share the word on the street, so you know what it is like as a single man living in Thailand. I enjoyed my three trips back there in the 80 and 90s. Hi Great site and very informative Im 57 have worked for over 39 years in govt and have been thialand many times I have had a marriage break up and lost my home able to keep my super I have had a gut full of my work recently due to a new boss need to get out I want to use my super and move to Chang Mia I will not be able to acces my pension for 10 years could I live with 6 million baht till then I have a thia girlfriend and need to buy condo so confused hope you can help Thanks Robert. Also, we do not eat at home..ever. Takes 2 minutes. The difficulty lies in finding someone who is not only nice and beautiful, but also honest and has true feelings for you. Now I find USA very boring since been Bangkok and other part of Thailand over 20 time. 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. Cuenca, Ecuador is the #1 retirement abroad destination. Expat Life Insurance: 10 Must-Know Facts, *Please check your inbox to confirm your email address, + Get the Right Visa Probably have to cut back a little while were in the expensive countries. I am 66 years old and british but have been living in the republic of ireland I moved to thailand from ireland nov 2021. Ill have to visit again. Thailand is not only a country that Id love to visit, but also one that I strongly consider retiring to. You can probably find a condo for around 2 million baht. Its up to her. When Medicare kicks in, we can move back to the US part-time. You will need to get private insurance. 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. This country has a low cost of living as well as some of the world's most beautiful beaches. November . Itll be a lot worse later. The Best Affordable Places to Retire Overseas in 2021. Hahaha! Hepatitis is a concern. 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. Silvia Ascarelli is a senior news editor for MarketWatch based in New York. lifestyle as a single man living in Thailand. It takes 24 hours of flying to get home. Accommodation in Chiang Mai can cost as little as 2500 Baht or 75 USD per month for a hotel like room with attached bathroom. The location makes a huge difference. But Im biased, because we did it. 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. PATTAYA, Thailand -- From the mountains of Chiang Mai to the beaches of Phuket, Thailand has long been a draw for foreign retirees wishing to spend their golden years in tropical bliss. Hed been to Thailand before and knew he wanted to live by the beach, not in a big city like Bangkok. Nikkei Inc. No reproduction without permission. . Either way, the amount required is still the same. 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. Touching base again. Cheers. I would love to have 70,000 Baht ($2,333) for retirement in Thailand. 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. Some old geezer with a pension! I sometimes wonder about moving to a more affordable place to retire but I think it would be hard to leave family and friends. When possible, ask a local how much the fare should be, so you know if you're being overcharged. The figure ($390,000 / 11 million Baht) breaks down to just over 70,000 Baht per month. 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. My wife an I are on the other side of 40.I retired last year but got pulled back into a job which might take a year or so to manage a computer transformation at a local plant. I just know a little because my parents live there. They are usually friendly and helpful and will fill in the form for you. The price increases to $1,800 for double occupancy. 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 rent for a while before buying. 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. Units with 2 or 3 bedrooms in the centre of town cost $750 USD per month and $250 USD on the outskirts. The Philippines? Is this because you are feeling guilty that you decided to stop working and she is still working. 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