$3,400 per month is approximately the pay out for 100% VA disability. So no houses unless you are married to a Thai citizen (I think.). Put your thumb in the pie, your finger in your eye, and spend a night looking at the sky. Its possible to do this in Thailand or at a consulate in your home country. Photo credit: iStock.com/Rawpixel, iStock.com/saiko3p, iStock.com/primeimages. The housing cost in Bangkok is much higher than in Chiang Mai, but I think other stuff are pretty comparable. 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. http://www.expatistan.com/cost-of-living Let say I can afford house maid when living in Chiang Mai but cannot in other city. Heres what you need to know about moving to Puerto Rico for retirement. This is a great plan, Joe! Ill be retiring to Thailand next year (Jan 2016) as an expat couple, no kids. You need to pay taxes even if you dont have a work visa. If only we could go back in time! You can follow her on Twitter @SilviaAscarelli. Thai markets also offer prepared foods, most commonly roast duck and chicken. As you can imagine, there are many different stories and tales about dating in Thailand as a single man. Im here to give you all the information you need to make your Thai adventure safe, happy, & successful. Even Thailand appears to have made it much more difficult to gain permanent residency in recent years. In the past we have had excellent medical care in Australia, New Zealand, Jordan, Turkey, and Mexico for a fraction of the USA costs before Medicare kicked in. Asia is more expensive than Europe and the US for most modern day items these days. Not that I care since I eat at Thai spice level sure aids in the output, too. Many local Thais can live on this budget in the north, but naturally, some locals are restricted due to this low amount. I knew I would shock some people with my idea of having a relationship with a woman 20 years younger. I do not have any pension and only recently have begun saving (thank you Covid 19)! It's easy to criticize this study for what isn't factored in, and the fairly simplistic financial calculations it uses. Best Parent Student Loans: Parent PLUS and Private. Thais take ghosts seriously. If they need more extensive care like specialized surgery, then maybe they might use private care later. Well see how it goes. But how does this translate to the real world? Either way, the amount required is still the same. An average Australian table wine that would cost about $8 in the United States is $27 in Thailand. If you can afford to live off a budget of $5,000 per month, you can expect a rather luxurious life. There are many affordable public transportation options in Thailand. My dad, on the other hand He enjoys going to nicer places and doesnt like eating at food stalls. Yikes! Not everyone will require a moped, but some may want a car. One of my uncles had a stroke a couple of years ago and went the private care route. It doesn't take into account a forecast for inflation, or interest earned on savings. We been USA over 30 year and it is boring so we keep going Thailand . And consumer prices in the Big Apple are almost 91% higher when you exclude rent. If you choose to leave the US to live in another country full-time, learn to assimilate, adapt, embrace, and take on the whole culture. There are lots of reasons why you may want to retire in Thailand. Foreigners cannot own land period. 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. The upstairs bedroom is designed like a open tree house. They can always come visit us if they miss us. Local Thai markets are usually open-air establishments either in a static location or recurring at a set place and time weekly. Moving overseas is in our family plan. 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. 10 reasons why black men should travel to thailand expat. Bowen says his monthly budget of $2,500 is covered by his Social Security check of $1,800 plus investment income. Thais are astonished by the idea that anyone could live alone and be happy. 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. A recent study carried out by NetCredit estimated that a person needs approximately $390,000 (US) to retire in Thailand. Hopefully South America will be more accommodating in the future. One other consideration is relative civil stability. You worked hard you whole life, why not enjoy your golden years? The grocery and restaurant cost seems a bit high, even comparing with US standards. The same study estimated that a retiree needs $515,742 in the UK, and $601,489 in the USA (over the 14-year period). Even for the linguistically talented, Thai is difficult to learn. I am very sceptical when I read these articles as I find most are written by persons associated or have ties with the local real estate market and sole aim is to draw attention to selling more property. I think the Thai government prefers short-term visitors. 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. You have a great idea for getting and solving the healthcare part of your retirement. My dads cost doesnt include rent because he own his condo. The new spending bill makes it easier to save for retirement. 2016 update: I went to Chiangmai to check out a retirement resort and get an update on the cost of retiring there. What matters the most is that living like locals is cheaper, but might be difficult at first. It all depends on what happens, I guess. 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. As an example, I have a good friend who is in his late 60s and is from the US. Good private schools are expensive here, and that's where the balance is likely to tip in favor of living back 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 financial requirements are: Bank account with THB 800,000 or. Thanks Im planning to visit Chang Mia in March get the feel for it stay a week If I buy a condo 2 bedrooms would I be pushing it to find something under 2 million baht and could I buy small business for my girlfriend to bring in a income any chance you or someone you can recommend meet me for a coffee to assist me as you seem to have a good knowdge of Chang Mia The decision to retire has been forced upon me and I am not getting much sleep your site is great. There were days I ate no normal meal but all deserts and coconut ice cream, and I was all right. . Id be curious what US expats pay monthly for living expenses including healthcare. Read some more info HERE. Northern Thailand is pretty far from the beaches. I believe the entire text of the Thai wiring code is: "Don't let the smoke out." For Thai families, the household motorbike is an indispensable necessity, and many foreign retirees and expats come to feel the same way. 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. 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. Learn how your comment data is processed. From past over 20 years we visited Bangkok and other places every year twice . Hmm interesting stuff as I am considering my position in life too. As it happens, this isnt much more than the average Social Security benefit. (I think thats the current rule. Glad you are finding it useful. Please let me know why i m thinking is correct? I averaged about $15 a night for a nice mid level hotel and around $8 a day for food in Chiang Mai ( about 1.50 breakfast / lunch and $5 dinners ). Vendors offer fresh pineapple, mango, watermelon and even stinky durian. + Get Health Insurance This may work for you if you plan to travel a lot or return home frequently. I am 66 years old and british but have been living in the republic of ireland I moved to thailand from ireland nov 2021. I have been saving my whole life for this, and I cant wait for this new adventure of mine to start. I will retire in 12 years looking for a place to settle down in Thailand with my foreigner wife. 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. I know Belize has a pretty good retirement visa. While not the cheapest country in Central America, Costa Rica still does have a much lower cost of living than the U.S. This amount covers most areas, but if you are situated in Phuket or Bangkok, a single man would need at least $1200 or more. ), the people, the infrastructure and healthcare!!! But if you need to spend less, you can. Anyway, I would love to live in Chiang Mai for a few years. There are many temples, festivals, and activities to do around Chiang Mai. There were some riots and coups, but they generally leave foreigners alone. Chiang Mai is cheaper than Bangkok, but it sounds as if it isnt THAT much cheaper any longer. Health care is excellent and the country is safe and . If you wish to retire in Thailand, you will need to need to get a retirement visa, also known as a Non-Immigrant Long Stay Visa. Fixed. Perhaps when medicare kicks in so I dont have to worry about medical cost as much. Great article. Silvia Ascarelli is a senior news editor for MarketWatch based in New York. My dad just got a 1 bedroom for about 1.5m. We can probably live comfortably on $1,200/month and budget $1,000/month for traveling. There are many reasons why expats choose to move to Thailand; this includes the beautiful weather and the stunning scenery. Inflation is also quite high in Thailand. As for food, beef is expensive but seafood is reasonable. I do like Vancouver, but its super expensive. Chinese tourists, in particular, spend a ton of money when they come to Thailand. This will give you an idea. Currently I have enough for a retirement visa in my Thai bank account and overall I have about 600,000 baht to my name - I could possibly double that if I spend another year working here in Vietnam. What happens, this isnt much more difficult to learn has a pretty good visa! Covid 19 ) a stroke a couple of years ago and went the care. 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