Dont worry about it. 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. Upon signing you'll typically hand over the first and last month's rent, plus a security deposit of one month. Id love to live there for a while and explore more places. My dad likes to eat seafood so thats why his food expense is so high. And, like you, were also waiting for that big mega-thrust earthquake! This year, I spent 6 weeks in Thailand to help my parent. Fixed. All investing involves risk, including loss of principal. Then I bought a one acre beach up north in Bolinao(Im a dual citizen), and building a resort there and in the provinces, my expenses are only about $15 dollars a day for everything since I can just walk around or take a tricycle without having to use my gas guzzling 1971 Mercedes(classic but drinks gas and breaks down once a month..lol). But, apropos of the study, the 70K may be low for Bangkok, particularly given the maintenance of a living standard. I've used one for 4 years. Whats your interest rate on the student loans? Prices for alcoholic beverages are inflated thanks to import duties and taxes. Glad you found the website. That is ridiculous. There is no public health insurance for expatriates in Thailand. For 20k you will get a decent worktop area and a couple of hobs, plus a fridge space. Even Thais get cravings for spaghetti, but they are happy with a 99bhat spaghetti, whereas most westerners want a proper spag-bol which will cost about 250Bhat. I think the aforementioned downsides are more of a concern to those with children, perhaps a family considering relocating in their late 30s, 40s or 50s. Tinder and other popular dating applications are booming in Thailand! Thats what kept me coming back. Also consider that some expats live in the family home of their partner, or a home they have built, and therefore don't have to pay rent. Hi, My name is Tom and I am 49 and live on Ko Lanta Island in Thailand. Imported liquor is about 50% more than what I would pay in the US IF I COULD STILL DRINK (interferes with my meds), I am generally there during the wet season, so room prices are lower. I really want to visit Thailand and it sounds like its extremely affordable. Once we get tired of SE Asia, then we can move to South America for a few years. But Im biased, because we did it. Leo had 2 cataract operations last year. He may not have a pile of money to live on and is depending on Social Security or a pension. Thailand does seem very affordable and buying places and renting them out to others would be a nice income stream. I need to emphasize that you want to EAT WHERE YOU SEE THAI PEOPLE EATING. This is generally referred to as the 'old town' although many can be found in many of the surrounding areas such as Hang Dong and Nimmanhaemin Road. How do these things compare in Thailand or other locations?. 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. Yes, my parents are using the public healthcare right now. Very little snow except at elevation of course. I use Thaipod101. The weather, which is beautiful for a few months of the year, may be too hot for the rest of the year. If you have been to Bangkok, you know it is extremely hectic there. Chiang Mai is cheaper than Bangkok, but it sounds as if it isnt THAT much cheaper any longer. I would also add that many locals see foreign partners as being very kind. The financial requirements are: Bank account with THB 800,000 or. I think anywhere in central city would work because Chiang Mai is not that big. Then you have to be able to speak Thai to not pay an inflated price here and there. Current market conditions bring both opportunity and risk. Foreign brands that are licensed to be produced in Thailand like Heineken, Tiger and San Miguel Light are available for slightly more. Expat Forum For People Moving Overseas And Living Abroad. Ill have to add up my yots for a monthly figure! 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. If they need more extensive care like specialized surgery, then maybe they might use private care later. Look on sites like ThaiLoveLinks (I'm sure there's an advert here somewhere on this site) - or some of the others. Honestly, its hard for me to imagine how a retired couple could spend THAT much money living in Chiang Mai. Im very curious what the education options would be for your child especially if this happens in high school or if you want to be close by for college? Accommodation in Chiang Mai can cost as little as 2500 Baht or 75 USD per month for a hotel like room with attached bathroom. Its on my list, although Im not sure when it will happen. No problem. How do visa/residency requirements factor into your analysis, or at least for someone who lacks dual citizenship? Probably have to cut back a little while were in the expensive countries. Therefore, people will no doubt comment that you can live on half the amount I've cited above. Hi Cheryl, it's just an optional thing I mention at the bottom of my newsletter. Main thing attract me is very good maid and I and my husband getting old do not want to keep working in the house. A new Yamaha Fino automatic scooter can be purchased for 44,000 baht ($1,400). If you keep your resources in your US accounts, then any financial instability shouldnt effect you much. I personally quite like Vietnam, but I just don't get the same vibe there as I do in Thailand. From BKK u can travel around and it is really fun . A rotisserie roast chicken costs just 140 baht ($4.50). I lived there for half a year and its wonderful to live in the tropics. I still shuttle between the US and the Philippines since I have businesses and properties in both places and also a house in Thailand. We are thinking about buying Apartment at Sukhamvit . try calabria right down southhad an apartment there for 6yrs.quite cheap can buy decent apartment for 70,000 euros.but it became boring. Not everyone will require a moped, but some may want a car. You need 35 years for the full pension, but let's say you have 10 already, you can backpay 6 and pay for the remaining 8 you have = 24 years worth. I like reading about geo-arbitrage even if it isnt a place that Im likely to move to though the $10 massage is convincing. Global economic shifts have devalued some Western currencies and made Thailand more expensive. For small stuff, Id probably go to a private clinic and pay. You spend $4000 a month in Thailand and you dont think thats extravagant? Even for the linguistically talented, Thai is difficult to learn. A, Thailand is an affordable travel destination, and a budget of $1,500 each month is enough for many people to live comfortably. we been Thailand over 30 times with kids so far. 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. The Japanese retirees spend about $3,000 per month to retire in Thailand. I'd be happy to do that--but how? Everything just keeps getting more expensive. Wow, thats really interesting. For these reasons, Thailand can be a top choice for part-time retirement overseas. After he married, he couldnt get a U.S. visa for his wife to meet family, and theyve only been able to meet her on Zoom. 1610 USD for your lifestyle is around $2000 CAD, which is certainly a lot cheaper than our monthly expenses here in Vancouver. The lifestyle also makes a big difference. Test your dream retirement spot for a few months before committing to it. I thought the city had a great feel to it, a nice pace, great cost of living, and Thai food is the best. The amount you spend on healthcare really depends on your health. Since US citizens are taxed on global income you're going to have to answer that little "Do you have accounts or financial interests overseas that total more than $10,000?" That has changed. 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 love Italy. Beer is about 75 cents (US) for a 340 ml can of Cheers (as of May 2016). This trip is very strange. 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. November . You can do it here but please don't feel obliged :). Hepatitis is a concern. The research was based on the following lifestyle for 1 person: We sleep with are children on the balcony at least half the year. Estimates for thecost of livingin Thailand generally say its between 35% and 75% cheaper than living in the U.S. NET. Just fun.. Actually, I dont know that much about Chiang Mai. Yeah, the education isnt good enough so the families dont have the incentive to move there. Well probably try to avoid the import stuff as much as we could when we go to Thailand. My girlfriends family has five sea front houses. I knew I would shock some people with my idea of having a relationship with a woman 20 years younger. Just those few phrases will make life much less stressful. Taxes? You might not like it once youre there for a few months. This may work for you if you plan to travel a lot or return home frequently. The upstairs bedroom is designed like a open tree house. Good luck! I am about to take 6 months of work And get A 3 month visa stay in thialand I want to give chang Mia Ago around June and rent for 3 weeks Can you recommend a good location that is quite close to shops and all amenities this will be with a view to retire with my thia girlfriend in 2017 Any help would be appreciated. But it only works in favour of Thai goods being exported!!! . I sometimes wonder about moving to a more affordable place to retire but I think it would be hard to leave family and friends. Sorry Steve your information about ownership is incorrect -Americans CAN OWN PROPERTY based on the treaty of amity BUT it is only for the lifetime of the purchaser AND THAT IS WHY MANY MARRY POO-YING THAI. I need to be close to water, so perhaps there are lakeside houses? 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). If you are looking for a quite paradise that is affordable contact us at [emailprotected]. (Photo by George Styllis), Thailand's battle to drive down currency will not end well, Thailand keeps doors open to Chinese tourists, Thailand's famed 'Rose of the North' is wilting, Thailand GDP growth slows to 2.4%, lowest in five years, Thailand confirms first human-to-human spread of coronavirus, Thailand cuts interest rates to record low as coronavirus spreads, Thai banks give coronavirus-hit borrowers one-year moratorium, Thailand's budget delay seen exacerbating economic woes, Japan's capital spending up 7.7% despite weaker profits, China manufacturing expands at fastest pace since April 2012, Australia economy slowed in Q4 as headwinds mount. There are many temples, festivals, and activities to do around Chiang Mai. Never get into a tuk-tuk or songthaew without agreeing on the price in advance. Disclosure: All content on this site is for informational purposes only, not professional advice. 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. A researcher who tracks female infidelity finds that so called gray affairs are now quite common cheating isn't just for younger women. According to March 2022 Numbeo, a site that collects cost of living data from around the world, the average cost of living . Taking money from your IRA may seem like a simple matter, but it's a decision that must be timed right. Older women cheat, too: What research reveals about the extramarital affairs of women over 55. Health care is excellent and the country is safe and . Those who find that frustrating can hire an agent to handle it, as some of his friends do. Golf $30-$60 depending on the golf course. One should also note that few people have this much cash in savings. Bowen spends $20 a month for high-speed internet plus $15 a month for an unlimited cellphone plan. 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 think the Thai government prefers short-term visitors. 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. Im Peter. 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. Some of my dads friend eat out at expensive places every day and they spend more than $5,000/month I havent heard about the property. My mom, in particular, doesnt like to spend money at all and lives a simple lifestyle. Nearly 12 years later, he says his life in a beach town on the western side of Thailands Phuket Island is living in paradise., Bowen, now 70 years old, admits his decision to sell his house and all his belongings in just three months, after being laid off from his job in the Bay Area in 2009, was somewhat impulsive. I traveled around the world and Thailand is the best place for settle down. Its landlocked though right? Education is pretty limited. It is an exchange. Find out more here http://resilientman.com/retire-thailand/. Hair cut with shampoo + scalp massage $7 men, $20 women. Whether you are ok for your age or not, let's not kid ourselves. + Open a Thai Bank Account 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. The people are generally friendly and understand that its a new culture for retirees, but its easy to make a faux pas. Having traveled to Thailand 14 times and having many friends live there full time, I disagree with the costs here to retire. Having a Thai girl by your side makes it possible to get to get to know the Especially the private hospitals. As always, some will say it's high and others will say it's low. There are about 130,000 people living in the city itself and nearly 1 million people in the surrounding sprawl. Good luck. Theyve been married for eight years. Just take it slow as you would at home and make sure in your own mind she isn't a gold digger and I'm sure you'll be fine. Its up to her. I have been saving my whole life for this, and I cant wait for this new adventure of mine to start. In short: Of course you can. The rent from your condo (assuming it was paid off by then) would supply more than enough money to live on so you could leave all your other cash invested. Have a look at the Thai tax rules here: Thanks for this informative and down to earth website, I appreciate it. Lawmakers consider plan to raise Social Securitys full retirement age to 70, Why a change of scenery can be life-changing in retirement. Originally I am indian and now me and my husband getting bored at usa . Check out the reality from someone who knows before you decide your romantic view of a foreign culture is the truth! There are more relaxing spots in Thailand too. First, you have to obtain a non-immigrant visa by providing the Thai consulate with your passport and proof that you have enough funds. I used my parent and their Japanese retiree friends as the study cases back then. Renting before you consider a property purchase is a good idea. Oh and if you drink you will have to be happy drinking the awful mass produced beer (Heineken is one of the worst). All Rights Reserved. Wine, he says its $15 for anything decent.. I would love to retire in Italy for a few years too. Healthcare is much cheaper in Thailand than in the US. I did not have any problems eating at local food stalls. They have hundreds of video and audio lessons to help you start speaking Thai today. Skype would help a lot there too. Looking for an apartment to rent or a home to buy? If youd like to see more of my travel and quarantine experience, follow me on these channels. Good luck! My dad rents several condos to Japanese retirees. You could top up your contributions now and you're allowed to backpay for 6 years. I have a great relationship thanks, we live between Thailand and France, and have a beautiful four month old daughter. 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. Thai markets also offer prepared foods, most commonly roast duck and chicken. Learning Thai makes life here easier and more fun. Thailand also has agreements with a number of other countries to ensure that you dont pay taxes twice on your income. It is rather divorced men who do so. To make things easier for you, Ive compiled a list of those I use below. Some may have savings and just a state pension. Golf $30-$60 depending on the golf course. What am I still doing in the US!? For example, in Thai society, if a woman is slightly overweight, she can be seen as fat, but she can be seen as slim or average in the West. Im pretty sure well be back and forth a lot even if we live in other countries. It depends on what you want to buy. The only thing that *might* be taxable would be income from your investments in Thailand if you ever moved a large sum of money during a time when the exchange rate is more favorable. Seen as a safe bet amid the U.S.-China trade war, the baht has caused visitor numbers to drop and hotel occupancy rates to halve. I would say Chiang Mai offer me nice environment with nice people that still lingering in my memory. Phuket is a great place to visit. But is it a good fit for retirement? Thus, due to Westons cultural upbringing and other factors, foreigners may be kinder and gentler, but this is in general. 5. We rent one for $500 a month. This is not a typical example, but its always important to pay attention to those early signs if you enter into a relationship as a single man living in Thailand. Thais are astonished by the idea that anyone could live alone and be happy. Incentive to move to South America for a few years from someone who lacks dual citizenship maintenance a... Full retirement age to 70, why a change of scenery can purchased! A private clinic and pay and there over 55 extremely hectic there geo-arbitrage even if we live Thailand... 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