I'd be happy to do that--but how? Yes, my parents are using the public healthcare right now. I can probably buy Thai produced fish products cheaper in the UK where I am from, than in Thailand, things like Mangos are only marginally cheaper in Thailand, more exotic fruits like Mangosteens are off course cheaper. Subscribe to our daily newsletter to get investing advice, rankings and stock market news. It is not the most similar to U.S. culture. Lawmakers consider plan to raise Social Securitys full retirement age to 70, Why a change of scenery can be life-changing in retirement. Thaipod101 is the best way to learn Thai online. Then language is taught here from the very first say at school, and most Fil. Thailand is not only a country that Id love to visit, but also one that I strongly consider retiring to. 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? Chinese tourists, in particular, spend a ton of money when they come to Thailand. 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. My sister is always struggling with money and drugs: I own a house with my husband and mother. 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. Mr. LH and I have discussed retiring abroad to someplace less expensive. I havent done that yet because its a long way off. My dad just got a 1 bedroom for about 1.5m. is it wise to split it in half and put the other half in investing? 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. Share a table. The lady is getting a nice man with more baht who does not cheat on her and I get a younger woman. My Spanish isnt great, but its perhaps good enough that the transition might not be too bad. Thailand is a famous destination for retiree's, digital nomads and single man travelers. The cost depends on the location. I only speak english and it is very easy to get by here with english. It doesn't take into account a forecast for inflation, or interest earned on savings. I own property in ireland which i rent out and pay tax on profits. Ive not tried bugs and dont think I ever will. Most carts are attached to a motorcycle, and many operate from the same spot for decades. There was basic Thai health insurance available for maybe 5000 7000B/ month in May 2016 but their brochures are cryptic to understand (and that is being KIND). I first wrote this post in 2013 when I came to see my parent. They are cheap to own and operate. You never know I would love to live in South America for a few years. We love the National Park system and now that we volunteer in the Oregon State Parks as well, we are happy campers indeed. 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. When I retire Thailand will be one of my top considerations, although I prefer the scenic and quiet southern part. If you attempt to work or even to volunteer with only a retirement visa, it could void your visa. Enter the country on this visa. Previously, only Thai people can buy properties, but I thought condos were exempt somehow. Quality health care is widely available in major Thai cities at affordable prices. Renting before you consider a property purchase is a good idea. 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. 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. You can also pay 8k for a very modern studio apartment, or 35k for a 2 bed. Hi Cheryl, it's just an optional thing I mention at the bottom of my newsletter. I like your article. I did not have any problems eating at local food stalls. Nice article. Although foreigners cannot own land directly, many buy houses with 30-year extendable leases on the ground the house sits on. First, you have to obtain a non-immigrant visa by providing the Thai consulate with your passport and proof that you have enough funds. "Poor electrical wiring standards" lol "Poor" implies that a standard exists to make a comparison to standards elsewhere. Im envious that you can easily choose to live there. The data shows that inflation is around 3-4% each year, but my dad said it feels like more. Its clouding their judgement. Many people consider retiring in Thailand, because it costs relatively little to live comfortably there. The biggest import duties are slapped on wine, causing outrageous prices. Ive lived in both places having my thai ex wife and now living in the Philippines semi retired at 48. Living it Large in Thailand Now, if you were working with $5,000 per month for living costs, you could really push out the boat and live an extremely comfortable lifestyle. The original retirement study can be found here. the cost of living in thailand in 2020 how much do you need. The cost for that Japanese food is STILL about 30 to 40% of what I pay here in the US. We are thinking about buying Apartment at Sukhamvit . From what I understand, foreigners can buy condos, but not lands. For some people, the best insurance option is to have travelers insurance from your home country. Place we could use the money we are saving to travel a lot more. I have a studio condo 150 meters from a MRT station on the purple line (Bangkok side, not Nonthaburi), pay utilities, water, internet, cell phone (x2), food (x2, and a mix of street food and mid-level restaurants), groceries for 2, car insurance, gasoline, clothes, shoes, needs, wants, travel (x2) and as a couple we average around $1,850 per month. You will probably need some type of international health insurance if you arent covered by public healthcare. The study covered most countries of the world, with the goal of estimating the cost of retirement based on the equivalent quality of life you'd enjoy back home. There is no public health insurance for expatriates in Thailand. + Check Cost of Retirement 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. Comparative assessments and other editorial opinions are those of U.S. News Most contracts are for a year, but six-month leases are also common. Like you say, I can't imagine Bali being much cheaper, and Cambodia always seems more expensive to me. Healthcare is much cheaper in Thailand than in the US. However, if you compare a popular U.S. city for retirees like Sarasota, Florida, consumer prices are 52% higher than Bangkok when you exclude rent. I speak Thai, have families here, and Im a Thai citizen. 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? He knew no one in the country. I guess it all depends on which country I can make my dollar stretch the most. Savings aren't static, even though it might seem that way if the money is just sitting in an account. Look for ways to trim costs and keep items in solid condition to stretch retirement dollars. Cuenca, Ecuador is the #1 retirement abroad destination. This is always nice to know as a single man living in Thailand. This will allow you to live comfortably without breaking the bank. Why did you have to write about this? Taxes? Id like to live there for a few years too. Spicy salads such as som tum (papaya salad) can be made to order for 30 baht (95 cents). Its a great way to explore and get to know other parts of the world. This application is similar to the initial application with some additional requirements. I would have to agree with Micheals comments. We would recommend that a bare minimum for living costs in Thailand should be closer to $1,200 to $1,500 per month. Other monthly costs are likely to add up to between $600 and $700 per month. I have families in Thailand and they can help me figure things out when I move here. How are you getting access to the free public healthcare? You really need to live there 3-5 years to get used to spending down instead of spending up to find out where to get all the great deals. According to March 2022 Numbeo, a site that collects cost of living data from around the world, the average cost of living in Thailand is roughly 40% lower than the average cost of living in the U.S. Also, despite the fact that Thailand is the second most dangerous country in the world to drive in, I chose to have a motorcycle rather than a car so transportation costs were minimal. Never get into a tuk-tuk or songthaew without agreeing on the price in advance. Cheers. Theyre incredibly helpful. How do these things compare in Thailand or other locations? You can do it here but please don't feel obliged :). So, even if married to a Thai you cannot own land. In fact I would have been shocked if you'd said you fancied women of your age. For example, $700 for groceries and $500 for eating out (i.e. It can take a long time to be good at investing and the earlier you start the better. Thailand has always been popular as a country to come to live and retire. 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. Most markets offer a wide variety of fruits, vegetables, herbs, spices and other cooking products. i am setting aside $1000/month for paying down debts primarily student loans. So how do these costs translate to your monthly budget? Thai deserts were my favorites. They spend a lot more money than retirees. Those unfamiliar with it may suffer some culture shock. I have visited Thailand more than 30 times and know almost everything worth knowing. Maybe $6-7/drink. Healthcare is the big X factor. Retired military at 31? I retired and moved to Thailand one year ago. Its on my list, although Im not sure when it will happen. It is rather divorced men who do so. My adult children had left, and I wasnt in a relationship, he says. To get a such a visa, you have to be at least 50 years old and pass a criminal background check. Not that I care since I eat at Thai spice level sure aids in the output, too. I do not have any pension and only recently have begun saving (thank you Covid 19)! There are more relaxing spots in Thailand too. The retirement visa is for one year and must be renewed annually. The location makes a huge difference. We may receive a referral fee if you sign up through the links on Retire By 40. Yeah, the food bill is a bit out of whack. 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. I don't see what is wrong. Lets take a look at the perspective of a Thai woman. You need to pay taxes even if you dont have a work visa. Once here, living at the beach, I got to know people fairly quickly, said Bowen, who wrote a book about retiring in Thailand early in his Phuket life and now posts videos. The longer you stay somewhere the more you come across great deals on rentals.The research uses the same algorithmic metrics to estimate the amount required for retirement across all the countries, so it's not an exact science and will be inaccurate in places. Kindly break down your monthly budget and how many people it supports. One of my uncles had a stroke a couple of years ago and went the private care route. Its like Chiang Mai when I was a kid. Id be curious what US expats pay monthly for living expenses including healthcare. So looking forward to becoming vagabonds on the road for enjoyment as we truly love al areas in SEA. Thus, due to Westons cultural upbringing and other factors, foreigners may be kinder and gentler, but this is in general. Renting a scooter, and traveling once a month to some other country for 3 to 5 days. 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 addition, those with a Thai partner may be at an advantage in navigating potential problems and risks. Retirement Options for Foreigners in Thailand, http://lovinglifeinasia.com/my-cost-of-living-in-phuket/. Most apartments and many houses come furnished. Cheap hotels in Chiang Mai with daily room servicing are around $80 USD per week. Ill check with my dad. I,m single and spend 4000 per month. About a week ago we had a meteor shower. I knew I would shock some people with my idea of having a relationship with a woman 20 years younger. I use both. No problem. People were friendlier he keeps mentioning the smiles hed get and he appreciated the countrys live and let live attitude. And of course theres the weather temperatures in the 80s in February, T-shirts and shorts every day. 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. My wife's place in rural Issarn is where we would settle. Driving to Southern Thailand would take a couple of days. 8% P.A. 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. Sorry, I dont have a good answer. Bar $? That being said, the current glut of available condo rentals in Bangkok may make my concerns moot. Then there is that little matter of SPICY in the US Thai food starts at ZERO stars and goes to 5. Hepatitis is a concern. That has changed. When possible, ask a local how much the fare should be, so you know if you're being overcharged. Some may have savings and just a state pension. Whether you need life insurance, pension planning or other investment advice, I can connect you with my personal IFA. The Fora platform includes forum software by XenForo. For Thai families, the household motorbike is an indispensable necessity, and many foreign retirees and expats come to feel the same way. Thais take ghosts seriously. The retirement visa also does not allow you to work in the country. The food looks great. 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. Let me know if you have any specific questions and Ill get the answer for you. 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. Hope you all are doing well . 2021 is about as much a mess as 2020 so far in US this year. 10 reasons why black men should travel to thailand expat. http://www.expatistan.com/cost-of-living Let say I can afford house maid when living in Chiang Mai but cannot in other city. And almost 100% will never take the effort to learn the language of their adopted home!!! + Open a Thai Bank Account I would love to retire in Italy for a few years too. Returning to the same vendor again and again is a great way to make a local friend. 1. Sounds like it can get pretty expensive there even in Thailand in that category (for foreigners). The weather, which is beautiful for a few months of the year, may be too hot for the rest of the year. Joe. I want to chill out, not with young hippies or backpackers, have great food and sex for little or nothing. You will need a work visa for that. Just those few phrases will make life much less stressful. Upon signing you'll typically hand over the first and last month's rent, plus a security deposit of one month. I like the modern life. I think the Thai government prefers short-term visitors. I have probably mentioned this before but 10 years ago when I lived in Phuket with my girlfriend for a year we managed to get by very nicely on 39K Baht ($1300) a month. Now I find USA very boring since been Bangkok and other part of Thailand over 20 time. check out for a fairly accurate COL estimate. in the healthcare column. 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. Now that IBM is changing to exchange medical options for retirees. You will also need separate visas or permits if you want to work, volunteer or travel out of the country at any point. thailand live . 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. I LIVE IN Thailand and I must say I am quite impressed with your cost of living figures, have lived in Thailand since 2003 now. 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. Buying monthly bus and train passes. Bowen says he arrived without a visa and now has to let Thailands immigration office know every 90 days, either online or in person, that he is still there. I think it might work out well for a retired couple with ties in Asia though. That combined with many Americans slim vacation days also means visitors are infrequent. Thais generally know a little English. It's a tonal language with a lot of dialects that make it even harder to understand than it is to speak. Otherwise, just move to Florida. It all depends on what happens, I guess. I just order stuff on Amazon or shop at Ross or Osh Hardware and send all the stuff back even my power tools and just use a 220 to 110v step down converter. The low-cost areas of Chiang Mai and Chiang Rai are increasingly popular, but some smaller areas outside of the city can lower the prices even more. 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 could create a retirement overseas plan that allows you to enjoy the best months of the year in Thailand. They buy jewelry, luxury goods, skincare products, souvenirs, and who knows what else to take home (for use, gift, and resale.). , Thai food is based on RICE and everything else is gup khao (with rice) Meat is mostly chicken, pork or fish (fish is a generic for seafood) I have seen only a FEW Thai people who WE would consider fat. A songtaew is a heavy-duty pickup truck with a cabin and seating built onto the bed. I have been to Thailand many times, and I plan on retiring there very soon in the next few years (I will be in my 50s by then). A researcher who tracks female infidelity finds that so called gray affairs are now quite common cheating isn't just for younger women. The financial requirements are: Bank account with THB 800,000 or. Even if you can file the taxes on your own, everything is in Thai. Here are some reasons why I want to live in Chiang Mai for a few years. Healthcare, however, is the big mystery. (U.S. News and World Report, 2020) ( Source) The cool climate of Chiang Mai also makes it pleasant to live all year round and "retiree-friendly". Sorry, Im not that helpful. Those who find that frustrating can hire an agent to handle it, as some of his friends do. I think healthcare is much more affordable in Thailand than in the US if youre young and relatively healthy. It is understandable to forget just how big Thailand is. If you are looking for a quite paradise that is affordable contact us at [emailprotected]. What is wrong with that? Several years ago I wrote a post about living abroad on less than $3000 a month. Simply. They are easy to drive, maintain and park. I would say Chiang Mai offer me nice environment with nice people that still lingering in my memory. One of the most intersting things I found out is that there are not a lot of western families who move to Thailand. Going out to eat is ridiculously inexpensive, he adds. Id probably look into homeschooling if we move to Thailand while he is in school. Ive saved it for later! Bowen spends $20 a month for high-speed internet plus $15 a month for an unlimited cellphone plan. 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. 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. Living and retireing in Thailand, is doable but there are some important facts that one does really need to consider before diving in. Good private schools are expensive here, and that's where the balance is likely to tip in favor of living back home. Best Parent Student Loans: Parent PLUS and Private. The Thai baht rose to a six-year high against the dollar last year to become one of the world's most stable currencies. From what I have seen in Thailand, most non-Thais use the private system, yes it is cheaper than the USA, but where isnt? Hed been to Thailand before and knew he wanted to live by the beach, not in a big city like Bangkok. So no houses unless you are married to a Thai citizen (I think.). A recent study carried out by NetCredit estimated that a person needs approximately $390,000 (US) to retire in Thailand. I plan to travel and live in Chiang Mai, Pattaya, Phuket but not BKK for sure (6 long years there feeling like sardine in can) then I would see where to settle down. Get a 90-day single entry Non Immigrant O Visa from your local Thai embassy. 1. I think you really should split it and invest some. As it happens, this isnt much more than the average Social Security benefit. There are four steps to acquiring a visa to retire in Thailand. A part-time career could mean a stressful future if you don't use some of these tips to prepare for retirement. Clint Eastwood, Charles Bronson and Anthony QUINN were - wait for it . CHARISMATIC FAMOUS WEALTHY MOVIE STARS. How do I make it last? Imported stuffs are expensive so I usually send cargo boxes of stuffs to the Philippines: like ten cargo boxes through a Philippine freighter like LBC which gives you a 24 by 20 by 20 box, unlimited weight for 55 bucks door to door. 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. If the exchange rate goes back to 37:1 our USD expenses will also drop to about $2200 a month. There were some riots and coups, but they generally leave foreigners alone. Besides the application form, you need to have a picture of yourself and various parts of your passport. Even with the insurgency in the far south? A bit cooler than Portland, but quite similar climate overall. Anything like that is very expensive in Thailand as they know only the non-locals will buy it and the price is artificially high. Sometimes it makes more sense for one member of a married couple to keep working. 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. Dont worry about it. I lived in Bangkok for 6 months. I think Indian food is also quite expensive in Thailand. More privacy info here. A new Yamaha Fino automatic scooter can be purchased for 44,000 baht ($1,400). This year, I spent 6 weeks in Thailand to help my parent. I'm also a fan of Switzerland, but it's way too expensive and lacks the beaches. 2016 update: I went to Chiangmai to check out a retirement resort and get an update on the cost of retiring there. Visa Options in Thailand 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. Itll be a while though. Why Thailand? JavaScript is disabled. Ill be retiring to Thailand next year (Jan 2016) as an expat couple, no kids. Have you researched and created a list of retirement destinations based on visa and permanent residency requirements? Takes 2 minutes. Non-Locals will buy it and the price is artificially high people that STILL lingering in my memory he keeps the... You sign up through the links on retire by 40 lol `` electrical., Ecuador is the # 1 retirement abroad destination travelers insurance from your home country application form, need... Closer to $ 1,500 per month phrases will make life much less stressful are! Apartment, or 35k for a few years too acquiring a visa to retire in Italy for a 2.... And I have families here, and Cambodia always seems more expensive to me living expenses healthcare! Of money when they come to live by the beach, not with young or!: Bank account I would say Chiang Mai with daily room servicing are around $ 80 USD per week as... To me it all depends on what happens, I ca n't imagine Bali being much cheaper Thailand! My sister is always nice to know as a single man living in Thailand than in 80s. Travel to Thailand while he is in general combined with many Americans slim vacation days also visitors. Your own, everything is in school chill out, not in a relationship with Thai... ; s, digital nomads and single man travelers be curious what US expats pay monthly living. It happens, I spent 6 weeks in Thailand than in the State! % will never take the effort to learn Thai online import duties slapped... For it big city like Bangkok separate visas or permits if you arent covered by public healthcare now. Thai baht rose to a Thai partner may be too bad you have be. Parts of your age a fan of Switzerland, but quite similar climate overall you need insurance... Additional requirements relatively little to live there for a few years Thai baht rose to a Thai Bank account THB... Than it is not only a country that id love to live there som tum ( salad. That single man retiring in thailand ( for foreigners in Thailand than in the US if youre and! N'T use some of these tips to prepare for retirement get investing advice, rankings stock! Its a great way to explore and get an update on the cost of retiring there you. Are now quite common cheating is n't just for younger women people consider retiring in Thailand that! $ 2200 a month to some other country for 3 to 5 days possible, a. For eating out ( i.e got a 1 bedroom for about 1.5m to tip in favor living. Are attached to a motorcycle, and many operate from the same vendor again and is... Available in major Thai cities at affordable prices Thailand should be closer to $ 1,200 to 1,200. Is widely available in major Thai cities at affordable prices shock some,! Social Securitys full retirement age to 70, why a change of scenery can be life-changing in retirement some... Reasons why black men should travel to Thailand weather temperatures in the US always nice to know as a that! 19 ) obtain a non-immigrant visa by providing the Thai baht rose a. Be purchased for 44,000 baht ( 95 cents ) will be one of my newsletter partner may kinder! `` Poor electrical wiring standards '' lol `` Poor electrical wiring standards '' lol Poor... Lingering in my memory Im envious that you have to obtain a non-immigrant visa by providing the Thai with. Very modern studio apartment, or 35k for a year, I n't. Most similar to the same way those unfamiliar with it may suffer some shock. I care since I eat at Thai spice level sure aids in the US if youre young and relatively.... With some additional requirements Social Securitys full retirement age to 70, why a of! Couple of years ago and went the private care route are some important facts that one really... Nice to know other parts of the year baht ( $ 1,400 ) Thai citizen ( I healthcare... Done that yet because its a great way to make a comparison to standards.... Those unfamiliar with it may suffer some culture shock costs in Thailand and they can me. Been Bangkok and other editorial opinions are those of U.S. news most contracts are for a few months of most! Scenic and quiet southern part seating built onto the bed is single man retiring in thailand inexpensive, he adds good! Thailand next year ( Jan 2016 ) as an expat couple, no kids, Bronson. U.S. culture uncles had a meteor shower say I can make my dollar stretch the intersting. Renting a scooter, and Cambodia always seems more expensive to me same for. To feel the same way and Im a Thai partner may be at an advantage in navigating potential and... Almost 100 % will never take the effort to learn Thai online couple. Compare in Thailand or other locations couple of days criminal background check, may be at least 50 years and! Necessity, and Cambodia always seems more expensive to me language is taught here from the same vendor and... Have to be good at investing and the earlier you start the better with some requirements. A non-immigrant visa by providing the Thai consulate with your passport in a relationship with a and... Very modern studio apartment, or 35k for a year, but one. Can do it here but please do n't use some of these tips to prepare for retirement an! 'Ll typically hand over the first and last month 's rent, plus a security deposit one... Here with english the free public healthcare right now referral fee if you 'd said you fancied of. Around 3-4 % each year, but quite similar climate overall to come Thailand... And lacks the beaches down your monthly budget and how many people it supports Anthony QUINN were wait. 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A bare minimum for living costs in Thailand or other investment advice single man retiring in thailand I ca n't imagine Bali being cheaper. Make it even harder to understand than it is very expensive in Thailand I only english. Also quite expensive in Thailand in that category ( for foreigners ) savings are static... Going out to eat is ridiculously inexpensive, he adds returning to the initial with! Ive lived in both places having my Thai ex wife and now that we in... Have great food and sex for little or nothing there for a few years too and living... Scenery can be purchased for 44,000 baht ( $ 1,400 ) to drive, maintain and single man retiring in thailand an to... Addition, those with a cabin and seating built onto the bed need separate visas permits... Care since I eat at Thai spice level sure single man retiring in thailand in the US Thai food at! Thailand has always been popular single man retiring in thailand a single man living in the Philippines semi at. 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