Retired now

[NORDO]

21 DEC.... 69 years today and first day of retirement.    Been living /working SE Asia for 11 eleven years and dreaming about this day.  Scared Sh_tless on what to do next.  Have already done many of the Thai things and wonder what comes next.  

Pensions add up to about 6k Euros monthly, so Im not poor, but not rich either.  But, the cost and availability of health insurance is concerning  me.  

Been considering VN over TH, anybody have comments about retirement comparisons?  Ive lived and worked in VN/Lao/Cambodia/TH/INdo, so know my way around, but never looked at the retirement comparisons.  Comments?

[4MyEgo]

9 minutes ago, NORDO said:

But, the cost and availability of health insurance is concerning  me.  

Firstly, congratulations on your late retirement ????

 

As for health insurance at 69, good luck with that one, going to be extremely expensive if they will insure you as they usually cut off at age 64, although there might be some out there willing to take you on, but at what annual price and what increases thereafter, so you might want to look at self insuring as I and other do, i.e. put a set amount aside every year, I put 250k baht aside a year and allow it to build up, as most hospital admissions shouldn't cost anywhere near that, although if you do come undone, it could cost you a fair bit, depending on the treatments.

 

 

 

Happy and healthy retirement to you sir.

Edited December 20, 2022 by 4MyEgo

[KannikaP]

Where are you Nordo, it's only 20th where I am in Thailand. It's my Mrs's birthday.

[NORDO]

Just now, KannikaP said:

Where are you Nordo, it's only 20th where I am in Thailand. It's my Mrs's birthday.

sorry, just pre-posting...the local lassies gave me a B-day party this afternoon a day early cause I start my BKK to SIN bike ride tomorrow and Ill be gone.  Just tiding  up all the little details

[Lacessit]

No need to be scared, do some stock-taking.

 

My research of various SE Asian countries in preparing for retirement here told me Thailand, despite its asinine visa requirements, beats every other country in terms of infrastructure, and freedom from regulation. Money always talks here.

 

As 4MyEgo has said, self-insure. Medical insurance premiums will escalate right through your seventies, and become unaffordable, assuming you can even get insurance.

 

Help that along by working on your physical and mental fitness. It takes self-discipline, but delays the onset of various conditions the elderly acquire by virtue of vegetating.

 

Find a hobby, something you enjoy doing. If you are socially inclined, volunteer. Learn a new skill.

 

Learn whatever language there is, it smooths a lot of paths.

 

I did not consider Vietnam in my analysis. Having said that, I found the food choices there to be quite bland, apart from the French-influenced breakfasts. IMO they do have the world's best coffee.

 

 

 

 

[Northstar1]

Vietnam is by far the new up and comer, but as for visa?

very very friendly people, enjoy your extended stay wherever you decide to go, but eventually you will have to go home as health will decide how far and long you will last in Asia,

[itsari]

Congratulations on your retirement . 

I think you could be considered rich in Thailand with a income of two and a half million baht per year when many Thais  consider them selves well off with one hundred and fifty thousand baht per year .

 

[TheFishman1]

Did you ever think about picking a country where you could get their health insurance at a reasonable price like Panama or Mexico?

[Celsius]

What's the point of working until 69? You'll be dead in 10 years. Seriously I think all the backpackers have it right. Spend time enjoying and travelling while you are young. You don't need much money when you are young.

 

240k baht a month and now worried sick. Have you ever seen an 80 year old guy in Thailand? Neither have I.

[Elkski]

Really with 6k you can consider many non third world countries.  

[bondjames007]

Congratulations on your retirement.

 

Regarding Health Insurance,  I am with Pacific Cross,  can renew up-to 99 years old. 

 

You can check the prices for your age,  might be expensive,  or like others have said,  self insure.

 

https://www.pacificcrosshealth.com/en/health-insurance/

 

 

[Tropposurfer]

Enjoy the retirement mate, you've earned it ????????

 

You can get insurance until death despite being 69!

 

Premiums for underwriting will cost you more but for a top Platinum level cover compared to e.g US or Australian costs for medical treatment its cheap if you need it and you WILL need it somewhere along the line. 

 

Pacific Cross in BKK can source a great policy for you until death. Yes you will pay at least 5K for one.

My advice as a retiree here is get cover.

If you call Pacific Cross in BKK they'll help you analyse policies with little pressure to sign up and have their fingers on the pulse of every underwriter - reasonable to best quality.

 

REMEMBER IF YOU DO TAKE COVERAGE MAKE SURE THEY ARE; ACCEPTED BY THE MAJOR HOSPITALS IN LOS AND GLOBALLY (IF YOU TRAVEL), AND WELL RESPECTED AND PAY-OUT.  Cheap rubbish underwriters can be refused in LOS just like that !! so do your homework.

 

Don't listen to anyone who says; 'you don't need insurance, and say stuff like; 'just put a hundred thousand dollars, or few hundred thousand bath aside for any medical needs you have'.

Remember mate you are aging and as you do you will need to increase your medical treatments and preventative checks etc.

 

I'm covered far better than I was in Australia for a similar ball-park price here and its wonderful. I can go to any private clinic anywhere or the best hospitals and pay nothing - not a cent for any treatment.

 

I'm a very healthy fit 66 year old, and certainly no hypochondriac (I know one of two lol ????) but I use my coverage regularly, check ups, dental cleans and work, periodic colonoscopies to avoid bowel and prostate cancer (which kills a heck of a lot of men worldwide and as a man past 50 you need to have one every 2 years unless symptoms begin in between this timeframe of course), dermatology for the skin cancers I have from my active life outdoors in Oz, even chiropractic (which I was never a devote of - certainly not regularly anyway).

So far no prescription needs for me so pharma component is not used much ... YET!

 

Coverage of quality allows you to get the best of everything, to attend private quality hospitals of your choice with surgeons-of-choice if you ever need one.

Cheap Charlie coverage does little to zero for this by the way.

 

You have worked hard, have more than enough to take out a solid policy, and you deserve the best of care.

Good luck in your choices.

 

Edited December 21, 2022 by Tropposurfer

[proton]

16 minutes ago, bondjames007 said:

Congratulations on your retirement.

 

Regarding Health Insurance,  I am with Pacific Cross,  can renew up-to 99 years old. 

 

You can check the prices for your age,  might be expensive,  or like others have said,  self insure.

 

https://www.pacificcrosshealth.com/en/health-insurance/

 

 

Any suggestions where to get a reliable health check you need over 65 for Pacific Cross? I was going to get insurance with them 4 years ago but the health check threw up so many problems that would be considered pre existing conditions that I did not bother. Going home and having the same tests a little later showed up nothing concerning at all

[Lacessit]

1 hour ago, Celsius said:

What's the point of working until 69? You'll be dead in 10 years. Seriously I think all the backpackers have it right. Spend time enjoying and travelling while you are young. You don't need much money when you are young.

 

240k baht a month and now worried sick. Have you ever seen an 80 year old guy in Thailand? Neither have I.

Me and my friend in CM will be saying hello to 80 early next year. Another friend in CM works out at a gym, he is 90.

You haven't seen an 80 year old guy in Thailand because you haven't looked.

[mokwit]

What happens with health Insurance if you become a long term inpatient - presumably it has to be renewed every year and they could up the premium or flat refuse cover?

[giddyup]

1 minute ago, Lacessit said:

Me and my friend in CM will be saying hello to 80 early next year. Another friend in CM works out at a gym, he is 90.

You haven't seen an 80 year old guy in Thailand because you haven't looked.

Correct. I turned 80 in August and there's at least 4 more falangs of similar age in my village.

 

[JimmyJ]

Vietnam has no Visas with Retirement Extensions.

 

30 Day Tourist Visas. Period.

[Srikcir]

Aside from cost of health insurance coverage there is the disallowance of pre-existing conditions.

My experience with Thai insurance is that the slightest pre-existing medical abnormality (regardless of any actual medical issue) will disqualify you from being covered in the event of a medical condition. 

Have a history of abnormal EKGs but no medications required, disqualified for heart disease. Break a bone in the foot, the whole leg is disqualified from future coverage. 

Also I found Thai insurance rates will increase substantially with age, especially beyond 70. Furthermore, my experience is that the more claims you make, the higher your premiums will be. With my former Thai health insurance, I was assured that if being older than 70, if I make no claims, there will be no annual insurance premium increases. But then, what's the point of having it? (I purchased it solely for extended visa requirements - changed visa and use pre-existing foreign insurance)

Bottom line, you need to clearly understand what you get / don't get past, present and future for both out patient and inpatient treatment, as well as international use. Ask questions.

Aside from insurance, you also need to consider the quality of medical diagnosis, available specialties & equipment, available treatment from hospital providers, language compatibility, timely access to medical care, etc. 

 

[Peter pop]

1 hour ago, Celsius said:

What's the point of working until 69? You'll be dead in 10 years. Seriously I think all the backpackers have it right. Spend time enjoying and travelling while you are young. You don't need much money when you are young.

 

240k baht a month and now worried sick. Have you ever seen an 80 year old guy in Thailand? Neither have I.

I will be 81 soon.  Life is healthy and good.  I have been self insuring here for the last 15 years. I have thought about returning to the UK but so far the arguments stack up for staying here.  Fixed pension and inflation are the main worries.

[Celsius]

32 minutes ago, Lacessit said:

You haven't seen an 80 year old guy in Thailand because you haven't looked.

 

I haven't and I won't

[Celsius]

9 minutes ago, Peter pop said:

I will be 81 soon.  Life is healthy and good.  I have been self insuring here for the last 15 years. I have thought about returning to the UK but so far the arguments stack up for staying here.  Fixed pension and inflation are the main worries.

How much money in total have you put so far towards self insurance?

 

I am trying to figure out my finances and if it's better to quit insurance now. So far I have not been impressed by Thai insurance at all.

 

 

[hotandsticky]

52 minutes ago, Lacessit said:

Me and my friend in CM will be saying hello to 80 early next year. Another friend in CM works out at a gym, he is 90.

You haven't seen an 80 year old guy in Thailand because you haven't looked.

 

 

....or didn't want to see....

[itsari]

18 minutes ago, Celsius said:

 

I haven't and I won't

You can learn a great deal from older people . 

Wise up

[hotandsticky]

20 minutes ago, Celsius said:

 

I haven't and I won't

 

Ah.......the ignorance of youth.....

[Celsius]

Come on guys I am just joking, I am pushing 50 myself.

 

Anyhoo I did ask yall how much do you think it is enough to self insure.

[mokwit]

21 minutes ago, Celsius said:

Come on guys I am just joking, I am pushing 50 myself.

 

Anyhoo I did ask yall how much do you think it is enough to self insure.

I just paid 180,000 Bt for two operations and a total of 16 days in a Govt hospital. About Bt60,000 in outpatients between. My original intention was to buy disaster insurance with 1st Bt300k or so payable by me - in the end I paid cash without insurance. Viable as that looks, the risk you have to look at is long stay - costs mount up and the risk is non renewal/increases by Insurance company. The big question is will your disaster insurance cover you for a disaster like needing to stay in hospital indefinitely?

 

A private hospital like Bumrungrad will cost you Bt8000/day min for just the bed vs 900/1800 min for govt hospital.

Edited December 21, 2022 by mokwit

[cooked]

If you can get it, maybe repatriation insurance in case of illness is a solution. Illness can strike suddenly and make you unfit to fly, so if your home country makes medical treatment available to you, this is the one to go for.

[Freddy42OZ]

Congratulations on your retirement. 

That pension sounds like a lot, but I guess it depends whether you are single, have kids, what sort of lifestyle you are used to and what other assets and savings you've accrued while working.  I don't need to tell you that 200K+ THB per month should be more than enough to live in Bangkok and have a very good standard of living. 

As for being bored, I barely have enough time in the day to keep up with all the things I am interested in.

[Lee65]

"Pensions add up to about 6k Euros monthly, so Im not poor, but not rich either. "

 

To the overwhelming majority of the 8 billion people in the world you are indeed very rich.  First stop on your personal journey in siphoning off of others in retirement is to open your eyes.

Edited December 21, 2022 by Lee65

[Lacessit]

18 minutes ago, Celsius said:

Come on guys I am just joking, I am pushing 50 myself.

 

Anyhoo I did ask yall how much do you think it is enough to self insure.

The answers will vary. I keep 500,000 baht in an account for medical emergencies. I figure at 10,000 baht/day ( less in government hospitals ) if I haven't made it out of there in 50 days, I am not coming out anyway. Others will quote 1-2 million baht.

 

I also maintain private health insurance in Australia, so if I had a really expensive operation, I could get it done there for the cost of the flights.

 

I have routine cystoscopies done here at 18,000 baht, because that's cheaper than flying back to Australia.