Need Retirement place for 70

[wgdanson]

20 minutes ago, Suradit69 said:

Agree that 500,000 a year falls short of the financial requirements for annual retirement extensions, from where did you pull 10,000 a month?

 

Maybe he can put 800,000 in the bank but wants to live on about 40,000 a month, I.e. Around baht 500,000 a year.

 

 

 

 

 

 

Please read my previous apologies for my bad maths, reading and quotes. Ta!

[Number 6]

You can easily live a clean, simple existence in Bangkok or Phuket on 40k thb per month.

 

Many farang simply can't eat Thai food but choose to live her anyway bitching all the while about cost of living.

 

[Number 6]

2 hours ago, Deerculler said:

Sorry! I think you should forget it.

The Philippines might be a better option on your budget.

Also think about your medical too. That is very important.

Goodluck in whatever you decide.

I think the Philippines a horrible option at any age.

 

Vietnam does not have the medical infrastructure he will need in this part of his life.

Edited September 28, 2019 by Number 6

[Suradit69]

23 hours ago, Jingthing said:

But the mechanics are confusing both for applicants and officers. You're a visa guru. I think a typical 70 year old moving abroad probably for the first time is looking for residency security and certainties.  

 

Not a situation like oh there is some glitch with one of your required monthly transfers so now leave the country.

Sent from my Lenovo A7020a48 using Thailand Forum - Thaivisa mobile app

 

 

 

 

 

Agree. The only reason I'm going for the 800,000 in the bank method for my next extension is for peace of mind. No income affidavit available in future and too many potential trivial missteps using the new approach to income proof and question marks abound around the combination method. 

 

For someone fairly familiar with it all, it's daunting. For an elderly newbie it  ought to be downright scary to depend on anything other than the money in the bank.

[Dustdevil]

On 9/26/2019 at 7:13 PM, RichardColeman said:

10,000 baht a week will easily cover the 200(2nd)-400(1st)  baht visa agent charge to cover the 800k. and 100,000-150k should easily cover your initial set up costs if not living the high life. Just answering 

With ordinary studio and one-bedroom flats going for 6 to 10,000 baht a month in Chiang Mai my favorite city in Asia, eating an American breakfast for 35 baht at a small restaurant, lunch--make a sandwich-- and a nice open-air Thai dinner for 50 baht, total B1500 a month; 9000 for rent (there are plenty of places cheaper than that); intermediate basic health insurance, B7500, internet 1000, pay-as-you-go cell phone 600, groceries 6000, incidentals 3000, transportation (tuk tuk or Songthaew) 300. This is a modest lifestyle and does not include a car or going out to bars and totals about 29,000 baht or currently $966.  I didn't include satellite or cable TV because personally I would skip that and continue paying for US Netflix and Amazon Prime using a VPN (total $26/mo.) And you can skimp on the groceries if you eat the aforementioned cheap and good breakfast and dinner outside, sandwich for lunch inside.  I'm retired and currently live in a decent one-bedroom apartment in Boise, Idaho (city of 400,000 including suburbs, with a large university) and my budget is $2100 a month, and that's with a nice car, even though I could do without one--everything I need is within a mile, and the closest supermarket is basically just across the street). If I can live off $2100 a month including a car with insurance, repairs and petrol in the United States, you can live off $966 or $1000 (B30,000) in Chiang Mai with no car. I don't know about Bangkok but the latter is not my cup of tea. Personally I don't care for beach towns in Thailand, nor would I want to live in Udon Thani. Of course, you have to deposit $25,000 in a Thai bank for a while if your retirement income is below a certain threshold, but it's still your money that you can withdraw later.

Edited September 28, 2019 by Dustdevil

[toofarnorth]

I live quite well up here and due partly to brexit and mostly the rate of exchange due to the Baht I am now on 28,000 B per month.

Our house cost nothing so bills are electric , gas every 4 months , rubbish collecting 120 B per year . That is the house. We go out at least twice a week , I don't like Thai beer veay much , my wife does like a glass of wine . i meet up with another evey week for a ride out on the bike , meet up for dinner once a month etc etc.  So all this BS  ' How can anyone live on less than 40,ooo B .............'

OK the air is vile up here Jan - March . Hospital over the road is good but not in view all year round.

[kinyara]

I was impressed with Prachuap on a couple of visits, bit of a centre for government offices for that province so very clean and pleasant. Easy to walk around, a lovely Navy beach complex accessible to the public and generally nice relaxed and safe feel to the place. Hua Hin in only a short train ride away for a day trip or weekend. However as many have mentioned the 2 key issues of health and visa coverage weren't addressed by the OP, excluding those issues 500k is no problem.

[dlclark97]

Well I don't see another post that fully addressed the monetary requirements.  800,000 baht in the bank or 65,000 baht per month deposited in a Thai bank account.  IF your could meet these requirements maybe you could retire here but the 500,000 baht per year would not allow you to get a retirement visa.  Also, check the exchange rates.  They keep going the wrong way for most retirees having to exchange for Thai baht.  Further, there is a pending possible requirement for those on certain visa categories to have health insurance with a minimum outpatient coverage of 40,000 baht and an inpatient coverage of 400,000 baht.  Unless you already have health insurance that would be acceptable in Thailand this could soon be an issue for you. To be sure this has not yet been implemented but was announced as coming back in April.  Due to exchange rates and other issues many expats have moved to other countries where their money goes further.  My disposable income is almost 20% less than it was 2 years ago.  Consider other options that might better suit your budget.  Above all, do not burn your bridges.  Even if you do get here you may find you will have to return to your home country. 

[gearbox]

1 hour ago, jayboy said:

No.

 

Read the posts on this point.

I've read it, and purely on income the OP would qualify. There is no info in his post about the level of education or profession. A doctor or engineer educated at a top Western university would be probably way more sophisticated than the Bangkok mid upper class.

[robertson468]

On 9/27/2019 at 7:39 AM, wgdanson said:

Bht 10,000 a month will not get you very far. Stay where you are.

Dear Sir, i would recommend that you invest in classes in mathematics.  500,000B per annum = 41,666 monthly, although I would agree that a budget of less than 50,000 per month is very difficult to live on and as others have mentioned, you will need to deposit 800,000 baht for a Retirement Visa.  As you sound like a "newbie" to Thailand, I would not go and live out in the bondooks - you will struggle to survive, viz a viz language, visa, culture and many other issues, not to mention that it would probably cost you 20,000 baht to get a Visa through an Agent, but you could do it yourself, if you are a whiz at administration, Thai style!  If you would like more advice, please pm me.

[gearbox]

28 minutes ago, Number 6 said:

You can easily live a clean, simple existence in Bangkok or Phuket on 40k thb per month.

 

Many farang simply can't eat Thai food but choose to live her anyway bitching all the while about cost of living.

 

 

The OP at the age of 70 has two main things to sort out about his budget:

 

* women

* medicals

 

These two can easily destroy a 42k per month budget. If these two are OK, the rest is easy. 

[wgdanson]

6 minutes ago, robertson468 said:

Dear Sir, i would recommend that you invest in classes in mathematics.  500,000B per annum = 41,666 monthly, although I would agree that a budget of less than 50,000 per month is very difficult to live on and as others have mentioned, you will need to deposit 800,000 baht for a Retirement Visa.  As you sound like a "newbie" to Thailand, I would not go and live out in the bondooks - you will struggle to survive, viz a viz language, visa, culture and many other issues, not to mention that it would probably cost you 20,000 baht to get a Visa through an Agent, but you could do it yourself, if you are a whiz at administration, Thai style!  If you would like more advice, please pm me.

Dear Sir, assuming that your first sentence is aimed at me wgdanson, I would recommend you invest in classes in READING my previous posts before replying. I have posted numerous apologies for my ONE simple mistake that Bht 500,000 was Bht 10,000 a month instead of a week.

The rest of your answer, I agree with totally.

Edited September 28, 2019 by wgdanson

[dlclark97]

See www.integrity-legal.com or search for many videos about expats insurance and other matters.  Suggest you reconsider your relocating as the 500,000 baht per year won't get you here.  Yes, if you were here you could 'exist' on your budget but without enough income to start with you may never be able to get a retirement visa.  Suggest a couple of long term tourist visits to talk with local expats and get to up to date information first hand. 

[Number 6]

6 minutes ago, gearbox said:

 

The OP at the age of 70 has two main things to sort out about his budget:

 

* women

* medicals

 

These two can easily destroy a 42k per month budget. If these two are OK, the rest is easy. 

Those are his issues. I'm simply stating that it is very possible to meet basic living requirements at 40k pm. No idea what his medical needs are and would not speculate.

 

In addition to 40k pm I would also recommend 800k for the retirement extension and another 1.5m for health needs. But I'm just responding to what I know.

 

I wish so many of you would stop moaning about living on less than 50k pm. It may be difficult for YOU but I think millions of Thai and thousands of farang do it with ease.

Edited September 28, 2019 by Number 6

[JWRC]

To Watkoh

I feel compelled to write again after reading all the negativity on here. If you decide on Kanchanaburi and you need a hand sorting yourself out, please feel free to pm me, I will be happy to help. Good luck

[holy cow cm]

49 minutes ago, Number 6 said:

Many farang simply can't eat Thai food but choose to live her anyway bitching all the while about cost of living.

Now that sounds fully derogatory. 

[Jingthing]

21 minutes ago, gearbox said:

 

The OP at the age of 70 has two main things to sort out about his budget:

 

* women

* medicals

 

These two can easily destroy a 42k per month budget. If these two are OK, the rest is easy. 

Three -- VISAS!

[Stephen Zevon]

Don’t get it. I’ve been in Chiang-Mai for 2 months and on my pension of 40,000 baht pm I’ve actually got more in the bank than I arrived with...and without scrimping and saving. 

I admit to eating mostly Thai food and drinking Chang beer, but if I want to take a Grab, go out of town for a few days, do some touristy stuff, I’ve done it. My lifestyle here has been unimaginable compared to UK, (plus nobody mentions Brexit!)  I love it here and really don’t want to go back. And I’m a pretty fit and healthy 67yr old. 

 

[holy cow cm]

The real fact is the poster can live here easily on 41k per month. There would be nothing hard about doing it if he stays within his boundaries. 

[FritsSikkink]

22 hours ago, jackdd said:

I did look up various ressources, usually in US related articles they say the top 15% are upper middle class, but i couldn't figure out how much income you need to be top 15% in Thailand. But when looking at the numbers it is generally about twice the average income.

Ressources in German say if you have twice the average income you are not considered middle class anymore, but "wealthy".

The average income in Thailand is about 20k THB (for a single person), OP has 42k.

So we can say he is upper middle class in Thailand.

The upper middle class consists of well-educated professionals with postgraduate degrees and comfortable incomes.

Well-educated professionals earn a lot more than 42K, at least treble that.

Edited September 28, 2019 by FritsSikkink

[Jingthing]

2 hours ago, alfalfa19 said:

i like your post.  can you mention some of those latin american countries?  especially where one can get health insurance.  thanks. 

I'll keep this relatively brief and suggest you go the dedicated expatriation to Latin America thread for much more detail.

 

 

You can shop for private insurance everywhere, subject to age and preexisting conditions restrictions meaning in many cases you can't buy it. So that's similar to Thailand. 

 

I was referring to buying in options for expats into public health care systems.

 

That is available in Colombia and Ecuador regardless of age and preexisting conditions. Colombia's system includes dental and meds as well. Cost is about 35 dollars a month for retired expats without local income. There is controversy about the pricing in Ecuador, for some it's only about 60 dollars and for others it's based on a percentage of even foreign sourced income. 

 

Mexico has this publc buy in option but rejections based on age and preexisting conditions.

 

I believe there are some other Latin American nations as well that offer expat buy in options, but I can't speak to all nations as I don't know everything or care to know everything.

 

Cheers

Edited September 28, 2019 by Jingthing

[kevinmartyn]

Your best option is to open a "Thai Bank" and deposit 800,000 baht in it and just call it "dead money" (ie do not touch).

As for retiring in Thailand it really does not matter where you stay as it is no longer a cheap place due to the strong baht.

Hospital costs are expensive too  and same if not more than the USA!

[gearbox]

 

11 minutes ago, Jingthing said:

Three -- VISAS!

if the OP doesn't have medical insurance and wants to self insure, the visas are easy. Just put 2 mil in a Thai bank to cover medical self insurance, that would take care of the visa requirements.

Edited September 28, 2019 by gearbox
double quote

[Max69xl]

I don't know where you from, but if other expats are important then you can try Kanchanaburi. Nice place and cheap. Close to BKK if you need to go there. There's a good private hospital, Thanakan Hospital which is much cheaper than the private hospitals in for example Pattaya or Phuket. Lots of older expats there. 

[Jingthing]

Just now, kevinmartyn said:

Your best option is to open a "Thai Bank" and deposit 800,000 baht in it and just call it "dead money" (ie do not touch).

As for retiring in Thailand it really does not matter where you stay as it is no longer a cheap place due to the strong baht.

Hospital costs are expensive too  and same if not more than the USA!

Yeah but we don't even know if he has the savings to do that! He hasn't been back here, has he? So are we really addressing him now at all? 

[Jingthing]

Just now, gearbox said:

 

if the OP doesn't have medical insurance and wants to self insure, the visas are easy. Just put 2 mil in a Thai bank to cover medical self insurance, that would take care of the visa requirements.

You're assuming he has such funds. Or maybe you were being sarcastic. 

[gearbox]

Just now, Jingthing said:

You're assuming he has such funds. Or maybe you were being sarcastic. 

Absolutely not sarcastic. What would you think would be a reasonable amount to self insure? I think 4 mil to feel absolutely safe.

[Jingthing]

Just now, gearbox said:

Absolutely not sarcastic. What would you think would be a reasonable amount to self insure? I think 4 mil to feel absolutely safe.

So let's hear from the OP as to his level of assets (IF ANY) in addition to his low income which alone doesn't even qualify for legally living here! As we haven't heard a peep, I'm gonna go out on a limb and assume he's probably not anywhere near a dollar millionaire.

 

Next … 

[jackdd]

15 minutes ago, FritsSikkink said:

The upper middle class consists of well-educated professionals with postgraduate degrees and comfortable incomes.

Well-educated professionals earn a lot more than 42K, at least double that.

We are talking about the average. On average they definitely don't make 80k per month.

Don't forget that for example a government teacher who earns 15k per month is a professional with a postgraduate degree.

Edited September 28, 2019 by jackdd

[NanLaew]

31 minutes ago, Number 6 said:

I think the Philippines a horrible option at any age.

 

Vietnam does not have the medical infrastructure he will need in this part of his life.

So, it all comes back to the dazzlingly cosmopolitan but mostly laid back provincial life style that only Meuang Udon Thani, the unchallenged star of Isaan can offer.

 

International private health care choices at lower prices than the regular Thailand farang traps.

Serviced by 28 daily flights by 4 carriers to/from 6 domestic destinations.

Four daily trains to/from Bangkok.

Less than 1 hour from Laos and a whole other country.

Malls, markets and old-fashioned 'high street' shopping.

Villa Market, Tops and Big C Extra for the imported food fan.

Parks with lakes and walking, jogging, running and cycling trails.

Hotels from 2-star to 5-star.

Guest houses.

Condominiums.

Gated, secure villages.

New build homes from 2.9 m baht and up.

Rental homes from around 6000 baht/m and up.

Recently inaugurated 2-route, cross-town city bus service that includes the airport for just 20 baht flat fare.