Need Retirement place for 70

[captpkapoor]

500 k baht per year or 42 k baht per month would pay for a small condo rental at 10 I per month, and the rest 32 k per month is enough for a reasonable life, groceries and transportation. Assuming you have medical coverage, and keeping a separate fixed deposit for the visa extensions. Doesn't include spending on women, hahaha!

[Letseng]

3 hours ago, dlclark97 said:

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. 

Op can apply for non-imm O multi entry and doesn't need 800.000 in a local bank. Only downside is that he needs to leave every 90 days. 

[ubonjoe]

2 minutes ago, Letseng said:

Op can apply for non-imm O multi entry and doesn't need 800.000 in a local bank. Only downside is that he needs to leave every 90 days. 

Can you suggest where he could apply for it. There are very few places that will issue one.

[DJ54]

Living in a village although less expensive would be a challenge if

on your own. language, culture, transportation. 

 

Hopefully you’re in relatively good health. If not and your still

wanting to move here better to be in an established city not 

in a village.

 

 

[steve73]

500k/yr is plenty unless you're a alcoholic, whore-monger, or coke addict, and you'd certainly be better off trying to live on that here in T/L than in most western countries,

 

I know plenty of guys living here on a basic state pension from US, Oz, UK, or other European countries (some as low as c. 25k/mon).  Obviously the "agent" route is necessary for the annual extension, and health problems would certainly be a problem for them...  But it's their choice.  Who are we to tell them that T/L doesn't want them and they should go back home.

 

Some of them even manage to keep permanent girlfriends (and help their families) as well, so for a single guy it would be much easier.

 

Accommodation really can be as much or as little as you want.  In most areas of T/L you can rent 2/3 bedroomed houses for around 5-6k upwards, or basic Thai style for 1.5-3k (for 1 or 2 bedrooms).  If you want the additional facilities of a condo, then you're looking at 5-6k up for a basic studio room.

 

My advice to the OP at 70 (if he's still around) would be "go for it"... you might not get the chance again..!

[wwest5829]

1 hour ago, Sheryl said:

Yes, but he has already said his annual income is only 500,00 baht.

Yes, Sheryl, saw that I was thinking that as the 800,000 kept in the bank was cited, I thought I would also cite the monthly income required as he said his annual budget was below the required annual income for retirement. I am thinking he does not have the financial standingbto retire here.

Edited September 28, 2019 by wwest5829

[Tony125]

4 minutes ago, DJ54 said:

Living in a village although less expensive would be a challenge if

on your own. language, culture, transportation. 

 

Hopefully you’re in relatively good health. If not and your still

wanting to move here better to be in an established city not 

in a village.

 

 

If people check the OP's previous posts ( he only has a total of 4) he had asked about the cost and how to apply for an Elite Visa and could he put his wife and kids on it. So we don't know his financial situation or if married to Thai or foreign wife or if he has kids as well. No sense speculating till he comes back on and gives us some info.

[wwest5829]

1 hour ago, Sheryl said:

Yes, but he has already said his annual income is only 500,00 baht.

Just trying to add to what appears to lack of required funds in any case.

[zhorik]

people are right that more information is needed.  what nationality. if European then there are plenty of places in Europe with sun and sand  that one can live on that money. If he is from the UK he has the benefit of having his pension increased each year , something which willnot happen if he moves to thailand as his pension will be frozen. People also need to know what health he is in, being &) does not mean you are any more decrepit  than someone 30 years younger.  Lifestyle matters as well. does he drink, go with bar ladies. if so  then forget it.  THe philippines are also an option. If American then consider Belize.

[Peter Denis]

OP posted > I am 70 years, want to retire in Thailand, which place is more suitable and economic. My budget is 500,00 baht per year.

And in approx 24 hours he got 160 responses.  Shows what a friendly helpful lot the TVF community is.

However, a 1 line request for a life-changing option is for sure not enough to get useful information.

The OP should provide at a minimum following info:

- I presume he has travelled to Thailand before, so what is he looking for: city / beach / mountains / rural area?  And what lifestyle is he targetting: relative luxury / monk-style survival / bar-hopping?

- Will he need accomodation or does he have staying options e.g. his girlfriend?  And if so, what are those?

- Apart from the 500.000 THB he can spent on year-basis, does he have additional funds?

Only then the TVF Community will be able to provide useful info.

> I almost fell in the trap of suggesting him to apply for a Non Imm OA Visa based on retirement in his home-country (as that would eliminate most of the thai immigration admin hassle for the first 2 years).  But realized that I do know nothing about his starter situation and envisioned lifestyle, so refrained from going into detail on that interesting option.

[Jingthing]

49 minutes ago, zhorik said:

...
If American then consider Belize.

His income is way under the annual requirement for the Belize retirement visa. Not sure what being American has to do with it either.

[problemfarang]

Well, imagine a normal teacher salary at a normal thai school is around 30K - 33K

You will get 42K per month... to be honest if your not after crazy dreams... you can live where ever you want... 

 

If you want seaside... cha-am or rayong... Krabi... yes expensive cities but again you can easily survive with 42K 

[muffy]

On 9/27/2019 at 9:31 AM, ubonjoe said:

There are other options than putting 800k baht in the. The income option and combination of the two is still available.

I think a person can live here on 500k baht a year. It just depends upon what type of lifestyle they want.

I have a pension income well in excess of the minimum , I get monthly statements from my police credit union with pension income . What do I need to show for proof ? I also have medical insurance for life .

[Momofarang]

26 minutes ago, problemfarang said:

If you want seaside... cha-am or rayong... Krabi... yes expensive cities but again you can easily survive with 42K 

"Survive" indeed. And beyond survival what sort of interests would you suggest to pursue?

[alfalfa19]

4 hours ago, Jingthing said:

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

thanks for your response. 

[ubonjoe]

A baiting inflammatory post has been removed.

[VIPinLanna]

I am also planning on retiring, but earlier around 52.

My basic expenses are 10,000 per month approximately 

Condo bought and payed for

Condo fee monthly payment

Electricity /water/ Internet

Food

Cable TV in condo.

No problem for 800,000 baht in Thai Bank, health care and emergent occurrences requiring significant resources. It is also essential to have a workable backup or repatriation plan. Just saying 500,000 per year is not sufficient information. Health Insurance may not be possible and Thai immigration changes the goal posts at whim.

Edited September 28, 2019 by VIPinLanna

[Hoppyone]

On 9/27/2019 at 2:28 PM, wgdanson said:

Sorry, meant 10,000 a week.

10,000 a week no need to stay where he is,it is enough for a 70 yo to still come to Thailand & enjoy his retirement 

[kensisaket]

8 hours ago, 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!

Not sure where you got your info on hospital costs; but, I had a total knee replacement in Ubon. The total cost was 240k baht (about $7000 USD at the time 2 years ago),  I had the other knee and both hips replaced in the US; and, every operation was a hell of a lot more than $7000. Closer to 10X that amount.

 

[DUNROAMIN]

With that sort of money stay where you are, Thailand is losing its appeal with many expats, poor exchange rate, over the top health insurance , discrimination towards expats, strict immigration policies and regulations , imported foods and wine are heavily taxed here and expensive, motor vehicles are extremely expensive new or second hand, you will never really own anything you buy here such as a house/land/car etc, and keep in mind money talks in Thailand, if your planning to hook up with a Thai lady, be prepared to financially support the extended family as well. I am happy here with my Thai wife and to a certain degree money is not an issue, take it for what its worth but Thailand is not the LOS as they used to say anymore. There are some advantages here but they don't out weigh the disadvantages. Take a look at what there is on offer in all the Asian countries before you decide.

[Blue bruce]

don't do it, find another place like Panama or Ecuador. Thai immigration makes life too difficult here, especially without any friends or family

[Nemises]

42,000 per month? EASY!!!

 

Just 15,000 baht per month to live in a decent hotel in the heart of Udon Thani. Includes 24/7 air con, all utilities and WiFi. Fresh towels & linen daily, room cleaned daily. Hospital, shopping, markets, farang bars/restaurants, gyms, swimming pools, spacious manicured parklands and huge shopping mall all outside your front door. No lease required. No car required. No motor bike required. Pack up and leave to explore other Provinces whenever you want (or even move in with new GFs for a while!). Come back to hotel whenever you want. Unlike many others on here you are single with no property nor lease. You have freedom. Live the life others dream of...

 

[Mac98]

23 hours ago, quadperfect said:

And yet most expats live on 45,000 bht a month in a big article here on tv. So whats youre issue with 42,000.

from my experience he can live in phuket so that pretty much means anywhere here,live in a nice 2 bedroom villa and even support a thai family . The only issues i see is the buy in. The car,the furniture the visa seasoning. 

36.000 for an agent is a lot easier to get hold of than 800,000. No seasoning required. Live without a car. Public transportation; save the planet.

   You are correct about living OK on 42000. I have made it on 40,000 for years. (I get 65,000 but have deductions as soon as SS hits the bank in USA.) Nice ocean-view, one-bedroom, 1 1/2 bath condo with pool on Pratamnak Hillside. Also have part-time home care (age 77), twice-weekly massage, girlfriends, and other friends. I'm well looked after. As far as medical, set aside an empty credit card to be used in an emergency. If you go to a government hospital it will be cheap enough to pay cash.

    I question advice on TV. OP is being advised to stay home, a place he obviously can't afford (I know the feeling). Or to try Latin America, a place where you are likely to be mugged twice just going to the grocery store. Probably a lower percentage of English speakers there than in Thailand.

[wgdanson]

13 hours ago, Hoppyone said:

10,000 a week no need to stay where he is,it is enough for a 70 yo to still come to Thailand & enjoy his retirement 

OK, once again I apologise to the entire TV community for making a mistake a few days again. Please do not quote me again on this. Ta!

[BertM]

What a general question by an infrequent & unknown TV member. 173 replies so far to this post and the OP hasn't responded. That's normal by looking at his profile. He's only had (1) reply in 2011 and (1) one other post in March 2019 which he did not reply to. Seems like someone just wants to waste other people's time.

 

For those who want to waste more of their time, how about answering the following: Where can someone live on $10,000 USD/mth? SE Asia, Europe, etc.? Assume the person is 62, has medical insurance and plenty money in the bank.

Edited September 29, 2019 by BertM

[tjinks]

Don't. As has been mentioned Panama or Ecuador or better yet Portugal.

I'm 74 years old and don't expect things to get better here. My limited funds will let me have a better quality of life in a nation that has a less repressive government.

 

 

[brianthainess]

On 9/27/2019 at 11:47 AM, Banana7 said:

Come to Pattaya. A 64 sq.mt. condo, with swimming pool, can be rented for 15k a month + utilities ( utilities are about 1k-2k a month), located between 3rd road and the highway, near Pattaya Klang. 32sq.mt. would cost about 8K/mo.. These prices are for a 1 year lease. Cheaper prices are also available.

 

That leaves you about 800b-1000b per day for food, entertainment, and transportation. If you eat Thai food, 300b/day,  breakfast 80b, lunch in Big C food court 80b, dinner 120b. not including booze. Beers in bar are about 55-70 baht.

 

Motorcycle rental can cost 2K a month. MC taxis are about 50-60b in central Pattaya.

Can you walk 1.5km to the beach?

 

 

 

 

Ban Chang has some cheap apartments 5000 mth near some good public hosp,beach,markets, ex pat community,shop where you can buy frozen western food and bars if that's what you want ,the main thing IMO is you will need some form of transport, power bill if you want air-con 1000 + 

[gearbox]

23 hours ago, BertM said:

What a general question by an infrequent & unknown TV member. 173 replies so far to this post and the OP hasn't responded. That's normal by looking at his profile. He's only had (1) reply in 2011 and (1) one other post in March 2019 which he did not reply to. Seems like someone just wants to waste other people's time.

 

For those who want to waste more of their time, how about answering the following: Where can someone live on $10,000 USD/mth? SE Asia, Europe, etc.? Assume the person is 62, has medical insurance and plenty money in the bank.

Which passports do you hold? In the developed countries you either need to be citizen/resident, or prepared to fork out sizeable amount of money to get one in order to stay there.

[JohnnyBD]

On 9/27/2019 at 7:24 AM, watkoh said:

I am 70 years, want to retire in Thailand, which place is more suitable and economic. My budget is 500,00 baht per year.

Dear watkoh,

You do not qualify for a retirement extension with only 500k per year income. You may need to have 800k on deposit in a Thai bank since not all IM offices allow the combination method. I noticed you have been a TV member since 2011. You had the opportunity to read the tens of thousands of posts over the last 8 years, so you should already know the answer to your question. The answer is: You can live anywhere in Thailand on 500k baht per year, but you have to meet Immigration's financial requirements. So, do you meet Immigration's financial requirements? Do you have 800k to put in a Thai bank. You didn't provide any information about your nationality, family status or financial situation, so based on only having 500k per year of income, you do not qualify to live here...

Edited September 30, 2019 by JohnnyBD

[Nemises]

^ Why does he need 800k in the bank when an agent only charges abt 20k per year?