Retirement In Thailand-Is It Still Lucrative?

[fletchsmile]

it all depends on your goals in life and whether you are single or married. It's much more expensive to be married... even to a good wife who works. Believe me, I know. And, I don't lack for female companionship.

...

Indeed it does depend on your goals young man.

For this old wizard, he found that in this life, his youthful single days wandering Thailand were actually more expensive than his somewhat calmer and settled married days.... yet with arrival of little wizards the game changes yet again...

stallions for courses ...

[GreenSnapper]

To give the OP an idea about "lucrative":

I'm single and live in BKK. I live a comfortable but not luxury life here. I don't frequent hookers, so have no expenses in this field.

I do have my wine, Western food, etc. But I also eat Thai food, perhaps 80%. Often I eat outside.

I have rented a big apartment in a good area.

I spend around 100,000 Baht each month. This does not include extensive shopping or traveling. Just my normal life expenses here.

Is this cheap or not? Certainly not as cheap as some people may hope for. But one should note that you don't pay taxes here in Thailand as a retiree, contrary to your home country.

[chops]

Here's an idea... how about getting some more money and then you will be able to afford to live here. Complaining about rising prices does nothing.

[jaideeguy]

Another consideration is the 'set up cost' has increased dramatically. Luckily I did that 10+yrs ago when the $ was stronger and construction prices were 40% less. Then the DJ crash. I would hesitate to start over again at today's inflated prices and the deflated $.........couldn't afford to.

Consider Cambodia....

[Ulysses G.]

I'm single and live in BKK. I live a comfortable but not luxury life here. I don't frequent hookers, so have no expenses in this field.

I spend around 100,000 Baht each month. This does not include extensive shopping or traveling. Just my normal life expenses here.

Is this cheap or not?

Over $3,000 U.S. monthly in Bangkok and no hookers. You need to take one of those classes to learn how to spend your money wisely or move to Pattaya.

Edited December 15, 2010 by Ulysses G.

[IanForbes]

I'm single and live in BKK. I live a comfortable but not luxury life here. I don't frequent hookers, so have no expenses in this field.

I spend around 100,000 Baht each month. This does not include extensive shopping or traveling. Just my normal life expenses here.

Is this cheap or not?

Over $3,000 U.S. monthly in Bangkok and no hookers. You need to take one of those classes to learn how to spend your money wisely or move to Pattaya.

You beat me to it, George. I was going to say the same thing. i get by on less than 50,000 Baht and I DO have lady friends who visit me. But, I don't smoke and I'm not a heavy drinker. I seldom have more than one or two beers a night in the bar I frequent, an only occasionally do I buy a lady drink. Without my afternoon ladies I could exist on much less.

[rgs2001uk]

I'm single and live in BKK. I live a comfortable but not luxury life here. I don't frequent hookers, so have no expenses in this field.

I spend around 100,000 Baht each month. This does not include extensive shopping or traveling. Just my normal life expenses here.

Is this cheap or not?

Over $3,000 U.S. monthly in Bangkok and no hookers. You need to take one of those classes to learn how to spend your money wisely or move to Pattaya.

You beat me to it, George. I was going to say the same thing. i get by on less than 50,000 Baht and I DO have lady friends who visit me. But, I don't smoke and I'm not a heavy drinker. I seldom have more than one or two beers a night in the bar I frequent, an only occasionally do I buy a lady drink. Without my afternoon ladies I could exist on much less.

Exist being the operative word., how much does your health insurance (purchased) in Thailand cost you each month, assuming of course you can find a company willing to insure you?

[SantiSuk]

I am married to a Thai so no need to look for "entertainment", mine is all free

Theres no such thing as a 'free lunch' apetley, I am sure you have heard that before. Others will argue that its cheaper to be single & entertain yourself via other means.

Having a w@nk every time you feel lusty, just to save money, is not my idea of a perfect retirement plan

[SantiSuk]

Bottom line, I think people need to hear the current truth rather than the pie in the sky live on 500 dollars a month in paradise fantasy island websites. Things really have changed here rather dramatically. Many of us still like Thailand of course, but the cheap factor needs to less of a factor in that, because it is no longer true. I have my own reasons now for staying (some economic based on assets in Thailand already) but if I was starting now, I would not do it.

Caveat, if you think you would enjoy living like a poor Thai peasant, OK, it can be still be cheap, but be prepared to be double charged even at that level!

Overcharging is only on life's 'extras'. Basics like food, drink, power are not dual priced and a Thai partner can help secrete your falang status from providers of the extra goods and services.

[SantiSuk]

Having had a good job and having been pretty parsimonious all my life I look forward to retirement on a very healthy UK asset and pension base. The long term effect of relative growth rates and their impact on inflation and exchange rates scares the sh$t out of me and I am having to suck hard and think about shifting my investment focus out of the old economies and into Asia (accepting the risks which that brings).

How anyone with an average UK pension can contemplate retiring in Asia - heaven alone knows. Good for 5 to 10 years maybe but then what?

[thepanom]

I live in a little but very nice beach resort, own a house, have a very nice life, go out for dinner with my wife everynight, drink my beers, pay my bills, insurance, electric, car , and all my expenses are about baht 800 a day!!

Can you do that somewhere in europe????

[guzzi850m2]

I think I can live here for app. 3k$ a month if retired. It hugely depends how you live off course, if you sit in the bar and take company home with you every day it will quickly add up.

I live in the outskirts off Pattaya with my family and we drive up to my wife's village on each of my holidays. I can stay there for 5 days max and I want to go home as I am soooo bored, country life is not for me, lol.

If I was to retire here on a pension and as a single, I would buy a small motor bike, rent a small apartment, that will give you the freedom to move on to another location for whatever reason (Thailand or elsewhere). There are a lot of options and we are all different, I like Pattaya very much and find Chang Mai very charming too. We used to live in BKK but will NEVER return there for living only for shopping once a year or so.

I will retire in app. 16 years time as a family man with wife, kids & dogs+ houses-car(s) & motor bikes, so my priorities are completely different than a person whom maybe move to LOS as a +65 year old.

I never regretted that I moved permanently out of Denmark some 7 years ago. They have a very large snow storm up there at the movement according to my old mother, well they can keep it, I don't miss that at all.LOL

[craigt3365]

<SNIP>

I never regretted that I moved permanently out of Denmark some 7 years ago. They have a very large snow storm up there at the movement according to my old mother, well they can keep it, I don't miss that at all.LOL

That was a huge factor for us also. Moving somewhere the weather was warm year round. I'm back in the US visiting my Mom...it's cold here!!!!!!! Can't wait to get back home!!!

[GreenSnapper]

Over $3,000 U.S. monthly in Bangkok and no hookers. You need to take one of those classes to learn how to spend your money wisely or move to Pattaya.

Believe me, I know what I'm doing

Previously, I was living here on much less. So I know that it is possible.

But when you retire, you don't want to live a 3rd-world life. I'm still somewhat below the living standard I had in my home country.

And yep, I'm considering the move to Pattaya. But it won't be cheaper there for me. An over-average house with pool cannot be rented for 5000B.

I'm not here to save money. I'm here to have a good life. I think that is every retiree's dream. But everybody has different ideas what he thinks is a good life and what is necessary.

[Roamin47]

Nearly two years into my retirement here, I frequently wonder why someone would retire anywhere else. It is possible to live a very rich life here on what is still-- even with the strength of the Baht -- very little money. It helps to adapt to the new culture, rather than trying to duplicate what you have left behind. That doesn't mean squat toilets and dried squid for breakfast, just a sensible adjustment of your economic thinking. Think in Baht, and remember that a college professor here may earn as little as 30,000 a month.

[Loz]

Nearly two years into my retirement here, I frequently wonder why someone would retire anywhere else. It is possible to live a very rich life here on what is still-- even with the strength of the Baht -- very little money. It helps to adapt to the new culture, rather than trying to duplicate what you have left behind. That doesn't mean squat toilets and dried squid for breakfast, just a sensible adjustment of your economic thinking. Think in Baht, and remember that a college professor here may earn as little as 30,000 a month.

They can earn significantly less than that!

But the point is what defines quality of life for each of us is unique. There are some clear groups of course but one man's idea of wild whoring might be dramatically different from another's.

For people who need stability, Thailand is probably not the best place, and plenty of folk as they get older require increasing doses of stability.

[steve187]

I now am retired, and live in Bangkok.

Yes the Baht/Dollar rate is a concern...but it's still possible for me to live in a comfortable way here. I would be better off if the baht weakend, but I've been planning/saving for my retirement for over 30 years...so I knew what I was getting into long ago...........

And stay out of the "Farang Ghettos".

Very sensible post

I agree stay out of the busy areas and move somewhere a little more normal and you should be fine, just plan and take your time with the big expenses, - vehicle and home, renting is a good way to go, it doesn't tie up money and gives you the freedom to move if required at short notice, especially in the early days of moving here.

You can live as cheap as you want to here, it all depends on how much western food, beer and late evening entertainment you require?, monthly household bills are very low.

All the best with your plans.

[sarahsbloke]

[it's possible to rent a reasonable, unfurnished home in the outskirts of Chiang Mai for about 10,000 baht a month. I can't speak for other farang friendly cities. I think it's more practical to rent rather than buy. If there's any problem, as there often is, you can easily pack up and leave. I try to follow the advice to never buy anything in Thailand that you can't walk away from with only a few regrets.

Thai meals in cafes traditionally cost under 40 baht per serving. In a warm climate I seldom need more than two meals a day and supplement that with fruit. If you cook for yourself it's probably similar in cost because you'll splurge on more expensive items. I can't factor in alcohol because everyone is different but it's certainly cheaper in the small stores than it is at bars. Some guys bar bill would break me.

I live in a furnished 3 bedroom house 20km from CM .....7,000bht a month (near Doi Saket)

Moving to a furnished 2 bedroom house next month 10km from CM ..... 5,000bht a month (about 2km from Huay Tung Tao)

I looked at a new unfurnished 2 bedroom house ......... 2,500bht a month (12km from CM near Bo Sang)

The local restaurant near my new home (100yds) charges 25bht a dish (inc rice)

Ian, you are a very big spender!

(or maybe I am a cheap Charlie)

[GreenSnapper]

I live in a furnished 3 bedroom house 20km from CM .....7,000bht a month (near Doi Saket)

Moving to a furnished 2 bedroom house next month 10km from CM ..... 5,000bht a month (about 2km from Huay Tung Tao)

I looked at a new unfurnished 2 bedroom house ......... 2,500bht a month (12km from CM near Bo Sang)

The local restaurant near my new home (100yds) charges 25bht a dish (inc rice)

Everybody has his own preferences and I don't criticize that.

But retiring after a life of work, I wouldn't want to live that far out in the boonies and eat 25Bt meals.

To give you some ideas, how much things cost here if you want something of a similar standard as back home:

I recently saw a very nice apartment in Hua Hin, seafront, large (150 m2), very modern, very tasteful furnitures, a standard rarely seen in Thailand. The only problem: asking rent was 100,000 Bt. Maybe could haggle it down to 80K. Still much more than what I would pay in my home country for a similar standard.

I live in central Bangkok and while I don't mind 30Bt street food, I often eat out at the river or other nice places. Some seafood, a jug of Heineken with the girlfriend rarely comes below 1000Bt. Or do it the Thai way: An evening out at RCA, bottle of whiskey, soda, ice, some snacks.... 2000 Bt.

A visit at villa market is minimum 1000-2000 Bt. A crap bottle of wine is 600, a small piece of cheese from France or Switzerland is 300Bt, 100g salami from Spain 200 Bt and so on....

You want Guinness or German beer instead of Leo? Count this as 200+ Bt in your favorite bar.

So is this lucrative? Yes still it is, but not what some people believe. Having a "luxury life for just few cents" as some book on retirement here suggests, is not possible.

Living Thai style at Thai standard can be cheap - but not everybody's dream of retirement.

Edited December 20, 2010 by GreenSnapper

[saraburioz]

I now am retired, and live in Bangkok.

Yes the Baht/Dollar rate is a concern...but it's still possible for me to live in a comfortable way here. I would be better off if the baht weakend, but I've been planning/saving for my retirement for over 30 years...so I knew what I was getting into long ago.

I have a house for myself and my family, so I don't have to pay rent. Big savings there.

The "baht to beer ratio" is a non-problem. Basically because I really don't want or need any beer. That's just a personal choice I made. Honestly I don't really know what the price of beer is now, and I don't really care.

You're idea that Bangkok was a battle zone a year ago is not completely true. Frankly, out where I live, it was barely noticed. Sure they saw the demonstrations and such on television. But Bangkok is a big place, and there were parts of Bangkok that were barely affected...except for traffic problems...by all that stuff.

Somehow people who have been here a few years (but not longer) seem to think that things are "worse" now in Bangkok. I'm not deneying the problems...but the idea that there was some magical golden time that made Thailand a paradise to live in, I'm here to tell you it never was that.

If you think 30 Baht to a dollar is bad...when I first came to Thailand it was between 20 and 25 Baht to a dollar. In July 1977, the first time I came to Thailand, there was as 0100 (1 a.m.) curfew in Bangkok and you could be arrested (although foriegners rarely were) for breaking that curfew.

Bottom line: if you really want to retire in Thailand, you still can. Just do your homework, save the money you will need, and make your preparations for that time. Then just do it. If you spend all your time worrying and thinking about the possible problems, you'll never get it done.

And stay out of the "Farang Ghettos".

NEVER buy/build a house if you retire here! Nearly always ends in tears. Wait until you've been married at least 5 years or lived here for longer.

Anyways, you can rent a nice house for 5,000 baht a month, unless you want it in the center of Bangkok.

[Naam]

Anyways, you can rent a nice house for 5,000 baht a month, unless you want it in the center of Bangkok.

true! rent a palace like this one for even less:

[sarahsbloke]

Everybody has his own preferences and I don't criticize that.

But retiring after a life of work, I wouldn't want to live that far out in the boonies and eat 25Bt meals.

To give you some ideas, how much things cost here if you want something of a similar standard as back home:

...........

My 7,000bht house is almost exactly the same as the standard of living I had in my home country

The 5,000bht house is slightly inferior (so I won't be staying there long)

Looking for a 10,000bht house ........ a palace compared to the house in the UK.

25bht meals at my local Thai place are as good as anything that I have eaten in the UK (but different)

Unlike you I was never a millionaire with a beach front property, just a normal bloke with a normal cold, ugly and bitter UK wife.

[craigt3365]

Post edited due to font size. Please do not post in extremely large fonts!!!!

//Edit//

[gregb]

Everybody has his own preferences and I don't criticize that.

But retiring after a life of work, I wouldn't want to live that far out in the boonies and eat 25Bt meals.

To give you some ideas, how much things cost here if you want something of a similar standard as back home:

...........

My 7,000bht house is almost exactly the same as the standard of living I had in my home country

The 5,000bht house is slightly inferior (so I won't be staying there long)

Looking for a 10,000bht house ........ a palace compared to the house in the UK.

25bht meals at my local Thai place are as good as anything that I have eaten in the UK (but different)

Unlike you I was never a millionaire with a beach front property, just a normal bloke with a normal cold, ugly and bitter UK wife.

My mother just came here for a few weeks to see her grandchildren, and we spent a bunch of time looking around for a place she would be comfortable in staying that compared to her place in the states (She does not live in a beach front home. She lives in a small mountain town in rural Colorado, at the lower end of the economic scale...about as far from pretentious snobs as you can get.). Nothing fancy mind you, just a normal middle class existence in a suburb of Bangkok. What we found was:

Housing: approximately 50k - 70k per month (Just a balcony and a nice garden. No pool. Near mass transit.)

Electric: estimated 14k per month (she needs whole house 24/7 air conditioning)

Food: approximately 36k per month

So basic necessities, for a lifestyle that is merely equivalent to a lower middle class life in the states, requires somewhere around 100k - 120k per month.

People who say that you can have the same quality in Thailand for 10k are simply accepting less and calling it the same. If you truly want the same and aren't willing to look past all the faults, you have to pay a bunch.

Needless to say, she left with the impression that Thailand is extremely expensive, and is not sure she can afford to stay here.

So to each his own, but I know that people who claim it can be done cheaply are not comparing apples to apples.

[thaihome]

My mother just came here for a few weeks to see her grandchildren, and we spent a bunch of time looking around for a place she would be comfortable in staying that compared to her place in the states (She does not live in a beach front home. She lives in a small mountain town in rural Colorado, at the lower end of the economic scale...about as far from pretentious snobs as you can get.). Nothing fancy mind you, just a normal middle class existence in a suburb of Bangkok. What we found was:

Housing: approximately 50k - 70k per month (Just a balcony and a nice garden. No pool. Near mass transit.)

Electric: estimated 14k per month (she needs whole house 24/7 air conditioning)

Food: approximately 36k per month

So basic necessities, for a lifestyle that is merely equivalent to a lower middle class life in the states, requires somewhere around 100k - 120k per month.

People who say that you can have the same quality in Thailand for 10k are simply accepting less and calling it the same. If you truly want the same and aren't willing to look past all the faults, you have to pay a bunch.

Needless to say, she left with the impression that Thailand is extremely expensive, and is not sure she can afford to stay here.

So to each his own, but I know that people who claim it can be done cheaply are not comparing apples to apples.

I don’t think you are comparing apples to apples. A small rural town in Colorado to Bangkok is exactly a fair comparison. Perhaps you should have had look at living in San Francisco (in the city) or Manhattan first then came to Bangkok and compared prices. Or gone out to one of the far suburbs or provincial towns and looked what it cost.

TH

[GreenSnapper]

Unlike you I was never a millionaire with a beach front property, just a normal bloke with a normal cold, ugly and bitter UK wife.

There is no question, sarahsbloke, that the wife-standard (or GF-standard) here is light years ahead of Western countries

But otherwise I wasn't talking "millionaire", but middle class standard what me or many of my friends got used by living in the West. Just the normal hard-working people who pay their mortgages 30 years and when they retire, want to have some living standard equal or better than during their working life.

[Ulysses G.]

Housing: approximately 50k - 70k per month (Just a balcony and a nice garden. No pool. Near mass transit.)

Electric: estimated 14k per month (she needs whole house 24/7 air conditioning)

Food: approximately 36k per month

These prices seem WAY out of line to me, but maybe she needs top of the line everything. The truth is that someone who is willing to compromise can live on FAR less than anywhere in the US and - at least for me - the things that am compromising on are well worth the reduced costs and superior lifestyle in Thailand.

[sarahsbloke]

My mother just came here for a few weeks to see her grandchildren, and we spent a bunch of time looking around for a place she would be comfortable in staying that compared to her place in the states (She does not live in a beach front home. She lives in a small mountain town in rural Colorado, at the lower end of the economic scale...about as far from pretentious snobs as you can get.). Nothing fancy mind you, just a normal middle class existence in a suburb of Bangkok. What we found was:

So she should have been expecting to pay something like I am ..... out on the outskirts of Chiang Mai

Rural and near the mountains .....5,000-10,000bht a month

If you had compared Manhattan to Bangkok, that would have been far more equitable.

[inthepink]

Believe it or not but in all but one case no.

Unless the village has some attraction that would convince a Thai person to move there I find that a tad 'strange'.

That one case, did he either move to the village before he met his wife or meet his wife before he moved to Thailand?

In this case they built a house on land owned by his wife.

He had been coming to Thailand for a few years before he met his wife to be.

As for it being strange for a Thai to move out of their own village I would have to say that it does happen.

My own wife wanted to move away from her own immediate family as she gets on alot better with them, especially her mother when there is some distance between them. Her family even offered us some land for free to build our new house in the village just to be close but wifey vetoed that suggestion very early on.

Would you mind clarifying this point by telling me exactly how much distance there is between your current home and your wife's family, in kilometres?

Thanks

[apetley]

Believe it or not but in all but one case no.

Unless the village has some attraction that would convince a Thai person to move there I find that a tad 'strange'.

That one case, did he either move to the village before he met his wife or meet his wife before he moved to Thailand?

In this case they built a house on land owned by his wife.

He had been coming to Thailand for a few years before he met his wife to be.

As for it being strange for a Thai to move out of their own village I would have to say that it does happen.

My own wife wanted to move away from her own immediate family as she gets on alot better with them, especially her mother when there is some distance between them. Her family even offered us some land for free to build our new house in the village just to be close but wifey vetoed that suggestion very early on.

Would you mind clarifying this point by telling me exactly how much distance there is between your current home and your wife's family, in kilometres?

Thanks

13.2 kms on the trusty Tritons odometer. Off the bus route and MIL can't drive