Planning to Retire in Thailand

[ChintaHuma]

Recently divorced. I have travelled all over the World counting 80 cities according to Google. I'm familiar with Thailand and a long time Thailand visitor. Have only 5 million Baht after divorce settlement. Have not started SS yet. FRA is still five years and I will get around $3,000 at FRA (at current prices according to mySocialSecurity.gov website) but now only $2,000.

Planning to go to Thailand to retire and live there for five years before I apply for SS at FRA. Expected monthly expenses $2,000 in Thailand and that will be around 24Kx5 = 120K. I will be left with only one million at FRA when I start getting SS.

I know it is too much to open up one's financial and health situation in a forum but life takes unfortunate turns and you never know where it leads.

Coming in April with TV. Planning to live in Pattaya because I like beaches and want to stay close to Bangkok. I don't drink and not able to perform sexually for the last one year due to an operation. Please don't laugh and post caustic comments. So no attraction for ladies and bars.

What else I can do in Pattaya? I like beaches and want to just spend my time on the beaches till I die. I have a website that makes around $200/month now and after expenses, I profit $100/month. May be I can work on my website to increase its profit to $600/month and I am sure I could to that in two/three years if I focus on it. 

 

Please advice all that is required for retirement in Thailand. I know I have to keep 800K in a bank account but I have also read in FB groups that one can get a retirement visa through agents that don't require keeping 800K. 

 

Is applying SS at FRA is better option or applying now and start life time reduced payment to preserve my five million baht is better?

I'm originally from Surinam of Indian ancestry but settled in the USA for 40-years.

Recently I have become a weed smoker and there is no shortage of weed in Thailand  and it is legal now. 

 

[gearbox]

Pattaya, no sex, 2k usd per month...you are going to be ok financially. The main issue looking forward would be health insurance. The older you get the more expensive it gets, and from your OP you don't have the money to self insure.

[Neeranam]

20 minutes ago, ChintaHuma said:

Coming in April with TV. Planning to live in Pattaya because I like beaches and want to stay close to Bangkok. I don't drink and not able to perform sexually for the last one year due to an operation. Please don't laugh and post caustic comments. So no attraction for ladies and bars.

Pattaya is not the place for you. 

 

There are many other nice beaches a short drive from Bangkok. Hua Hin has many retired people.

[ChintaHuma]

12 minutes ago, Neeranam said:

Pattaya is not the place for you.

Why? Can you please elaborate it more. Thanks

[problemfarang]

dont come and live here

 

[ChintaHuma]

26 minutes ago, gearbox said:

The main issue looking forward would be health insurance. The older you get the more expensive it gets, and from your OP you don't have the money to self insure.

Yes, that is always in my mind. I have a two options I am exploring and all suggestions are welcome.
Option 1. If I get SS at FRA and I can fully enroll in Medicare for $300 (current prices) in many places in the USA. In emergency I will go to USA. But right now I don't have a place in the USA to stay. I can buy a small house in many states in USA (still looking) for $50K with 10K down payment but I need an income. Life is not easy.
Option 2. India is cheap for medical purposes. May be I can use my credit cards if need arises. Not sure how long banks will keep my available credits now that they will know I am divorced. 

[proton]

8 minutes ago, ChintaHuma said:

Why? Can you please elaborate it more. Thanks

Basically just for sex tourists with thousands of prostitutes and not a very pleasant place with poor beaches, horrible traffic and no real town planning as it developed, so quite unattractive. 

[ChintaHuma]

8 minutes ago, problemfarang said:

dont come and live here

Can you please elaborate. Thanks.

[problemfarang]

1 minute ago, ChintaHuma said:

Can you please elaborate. Thanks.

well i could explain you with probably a full of a page reason just from what i read from your first post.

 

simply: im here for 17 years and i can tell you that thailand is not for you. 

[ChintaHuma]

5 minutes ago, proton said:

Basically just for sex tourists with thousands of prostitutes and not a very pleasant place with poor beaches, horrible traffic and no real town planning as it developed, so quite unattractive. 

Never been to Hua Hin but I am very familiar with Pattay. You mean Hua Hin does not not have sex tourists? Jomtian area in Pattay and beaches are OK. I used to sit on Jomtian beaches and never felt bad. 

[ChintaHuma]

10 minutes ago, problemfarang said:

simply: im here for 17 years and i can tell you that thailand is not for you. 

Please send me a message if you're reluctant to post here. You're living in Thailand for 17 years and have not left yet. Can you suggest a few other places?

[still kicking]

Thailand beach 

Australian beach

 

[gearbox]

2 minutes ago, ChintaHuma said:

Please send me a message if you're reluctant to post here. You're living in Thailand for 17 years and have not left yet. Can you suggest a few other places?

Taking into account your financial situation in your OP IMO there are a few risk factors for you which can cause depletion of your funds:

 

* Emergency health issues that you can't cover.

 

* Relationship with a wrong woman

 

* Getting into a business in Thailand that you don't understand

 

As long as you can manage and sort out these IMO you have enough money to live here.

[Mickeymaus]

If you are not addicted to sex and booze avoid Pattaya. Travel around in Thailand until you find a nice place. Pattaya is full of noisy sex businesses and their customers. There are much better places to retire in Thailand if you don't need this. Many nice islands for instance.

[gearbox]

7 minutes ago, still kicking said:

Thailand beach 

Australian beach

 

The Aussie beaches are cleaner but you can't retire there with 5 mil baht.

 

This is a Thai beach.... plenty of good beaches here as well.

 

 

[Tom H]

If you have one issue like a health issue you are broken and jump from a balcony as so many did.

 

You need more money! 

[still kicking]

3 minutes ago, gearbox said:

The Aussie beaches are cleaner but you can't retire there with 5 mil baht.

 

This is a Thai beach.... plenty of good beaches here as well.

 

 

I retired in Oz with nothing since I lost everything in Thailand, now I live on the pension and pay rent and still can come to Thailand Twice a year 

[ChintaHuma]

39 minutes ago, gearbox said:

Emergency health issues that you can't cover.

Yes that is one issue I still struggling about. The two options I have outlined earlier. The third option is to buy health insurance, let's say 100K per year, So for three years it is only 300K. And after that I can always get into Medicare and in emergency I can move to the USA. In Medicare and Medigap and it will be $300/month. Even if I am not able to enroll in Medigap, the states will pick up my expenses. For that I need a house in the USA. Doing research for the best states to buy a cheap house for 50K USD that I can rent out when I am in Thailand. 

 

39 minutes ago, gearbox said:

Relationship with a wrong woman

Don't need any relationship now.

 

 

39 minutes ago, gearbox said:

Getting into a business in Thailand that you don't understand

Don't want to get into business in Thailand. I already have a website that generates $100/month profit now. It used to generate $6,000/month profit but I neglected it for long due to personal reasons and too much stress. I will work on my website to increase its profits again. I have also opened an etsy site for selling print on demand products. I have tested a few book and album cover design in Fiverr and I generated $80 last month. I have lots of ideas for side hustles that does not involve opening businesses in Thailand. I was a digital nomad for ten years when most people never heard of the term "digital nomad".

[ChintaHuma]

13 minutes ago, Tom H said:

You need more money! 

How to generate more money? Any ideas appreciated. 

[Jingthing]

Come now.

Take SS now.

Don't spend down your nest egg!

Jomtien is the best place to retire in Thailand. 

Many people here are not sexpats 

Don't listen to people with outdated understanding of Pattaya. 

But ignore my advice if you think you will have a very long life expectancy.

If it's normal for an American man like about 76 or so or less then come now.

 

Cut your ties with the US.

 

Your 50k rental house idea sounds insane.

 

That all said I think you would be better off moving to the coffee region of Colombia instead ASAP.. Like Manizales. You are probably young enough to get on their premium benefit health care system. You easily qualify for their retirement visa and you get permanent residence in 5 years. Low crime in the coffee region and similar prices to Thailand or less. Year round mild weather.

[ChintaHuma]

39 minutes ago, still kicking said:

I retired in Oz with nothing since I lost everything in Thailand, now I live on the pension and pay rent and still can come to Thailand Twice a year 

With five million and $2,000 income from SS, it is possible to retire in the USA also. Just buy a house for 50K USD in the USA for 10K down and you will be OK. Many people do that also. 

[Jingthing]

9 minutes ago, ChintaHuma said:

With five million and $2,000 income from SS, it is possible to retire in the USA also. Just buy a house for 50K USD in the USA for 10K down and you will be OK. Many people do that also. 

Poverty!

[NoDisplayName]

2 hours ago, ChintaHuma said:

Planning to go to Thailand to retire and live there for five years before I apply for SS at FRA. Expected monthly expenses $2,000 in Thailand and that will be around 24Kx5 = 120K. I will be left with only one million at FRA when I start getting SS.

$2000/month?  In Thailand?

 

How do you plan to spend 70,000 baht/month, considering booze and women are not essentials?

 

Rent a small house, hang out at the beach, eat decent food.  You should be fine with half that.

 

Your internet business will cover your medical insurance.  Coverage at your age around $2K/year.

 

 

 

 

[still kicking]

5 minutes ago, ChintaHuma said:

With five million and $2,000 income from SS, it is possible to retire in the USA also. Just buy a house for 50K USD in the USA for 10K down and you will be OK. Many people do that also. 

Well, I am not in the US I get $ AUD 2400 per months and pay just 960 on rent have not had a rent increase for 7 years Electricity just about$ 90 per 2 months just pay Rego for my car discounted as well since I am a pensioner free medical care, free hospital. Yes, I live better in OZ than I lived in Thailand no need for me to save any money I am too old but I still can afford to go to Thailand twice a year, no reporting, no visa fees so yes, I am happy here. 

[treetops]

1 hour ago, ChintaHuma said:

In emergency I will go to USA.

What if that emergency precludes you travelling and requires immediate treatment?

[ChintaHuma]

1 hour ago, Jingthing said:

Come now.

Take SS now.

Don't spend down your nest egg!

Jomtien is the best place to retire in Thailand. 

Many people here are not sexpats 

Don't listen to people with outdated understanding of Pattaya. 

But ignore my advice if you think you will have a very long life expectancy.

If it's normal for an American man like about 76 or so or less then come now.

Thank you @Jingthing. Very sensible suggestions. Gives me some hope in this despair time.

 

I like Pattaya (specially the Jomtien area). I don't like Thailand's rural areas or the islands. Pattaya has foods from all over the World and my favorite foods like Japanese, Korean, Middle Eastern, Indian, and good burgers. Malls are also good and have good food courts. I could spend half a day window shopping in the Malls. Movie theaters are excellent and there are a few. Jomtien beach is OK. When in Pattaya. my morning routine was walking to Jomtien beach and sit there for a few hours. Can go anywhere in Pattaya for few baht using Songtaw or Bolt for 100 baht. 

 

My only concern is health insurance.

[ChintaHuma]

1 hour ago, NoDisplayName said:

$2000/month?  In Thailand?

 

How do you plan to spend 70,000 baht/month, considering booze and women are not essentials?

 

Rent a small house, hang out at the beach, eat decent food.  You should be fine with half that.

 

Your internet business will cover your medical insurance.  Coverage at your age around $2K/year.

I am assuming 60,000 for 2K USD to be on the safe side

Good questions. Let me try to list it. I may over estimate to be on the safe side. 
Rent 15,000,

Electricity, water, Internet, phone, entertainment (movies, netflix, etc.): 5,000

Foods 15,000

Transportation 3,000

Misc. 2000

House cleaning 1500

Health insurance 10,000

Weed 6,000

 

Did I miss anything else? 

 

Hey, it seems I can afford health insurance. Why everybody is making a big deal about health insurance?

[Jingthing]

16 minutes ago, ChintaHuma said:

Thank you @Jingthing. Very sensible suggestions. Gives me some hope in this despair time.

 

I like Pattaya (specially the Jomtien area). I don't like Thailand's rural areas or the islands. Pattaya has foods from all over the World and my favorite foods like Japanese, Korean, Middle Eastern, Indian, and good burgers. Malls are also good and have good food courts. I could spend half a day window shopping in the Malls. Movie theaters are excellent and there are a few. Jomtien beach is OK. When in Pattaya. my morning routine was walking to Jomtien beach and sit there for a few hours. Can go anywhere in Pattaya for few baht using Songtaw or Bolt for 100 baht. 

 

My only concern is health insurance.

Yes the International food situation in Pattaya is excellent.

 

On health insurance Colombia is much better. No issues with pre-existing conditions. All expats required to join. Low cost high quality their system has a high WHO rating.

[ChintaHuma]

49 minutes ago, treetops said:

What if that emergency precludes you travelling and requires immediate treatment?

There are credit cards for that. But, with all the discussions (discussions help)  and after listing my expenses it appears I may be able to afford health insurance with my 2K USD budget. 

[ChintaHuma]

11 minutes ago, Jingthing said:

On health insurance Colombia is much better. No issues with pre-existing conditions. All expats required to join. Low cost high quality their system has a high WHO rating.

After I started listing my expenses, it seems I may be able to afford health insurance. I have been to Bogota and I liked it. But never been to Coffee Triangle.  May be I should make a trip to get the vibe. But there are no beaches I assume in the coffee triangle. Thanks for the suggestions.