WinnieTheKhwai Posted November 30, 2011 Share Posted November 30, 2011 No way to sugar-coat this one: http://money.usnews.com/money/blogs/On-Retirement/2011/11/29/6-affordable-places-to-retire-abroad-in-2012 Link to comment Share on other sites More sharing options...
hehehoho Posted November 30, 2011 Share Posted November 30, 2011 From the link: I know a single American man living in Chiang Mai on only $200 a month, with half of that going for rent. He makes a sport out of spending as little as possible. That sounds like fun. Link to comment Share on other sites More sharing options...
hehehoho Posted November 30, 2011 Share Posted November 30, 2011 (edited) Monthly budget: $1,100 They don't see to allow for visa runs to Laos for a Tourist Visa every few months. Then a new passport when they get 'The Red Stamp'. Edited November 30, 2011 by hehehoho Link to comment Share on other sites More sharing options...
muchogra Posted November 30, 2011 Share Posted November 30, 2011 $1,100 a month now? That's terrible inflation then. I thought I read somewhere CM was listed as one of the 10 places in the world in 2010 that you could live 'comfortably' under $500. Link to comment Share on other sites More sharing options...
CMX Posted November 30, 2011 Share Posted November 30, 2011 (edited) Doubtless I don't understand visa law well enough, but staying here for the full year, nowadays, is supposed to be impossible unless one has an income far higher than suggested - or can post a sum in a Thai bank. This ancient riffraff will simply be stopped at the border. Or else we're supposed to purchase the book to find out? Nevertheless, I feel complimented after having read the piece in having settled where I can ride on a high horse when comparing myself to our Cheap Charlies. OK, my pony. Would we accept that I ride a broken-down stubborn mule? Bicycle! Second hand, no gears, and lovin' it. Edited November 30, 2011 by CMX Link to comment Share on other sites More sharing options...
Semper Posted November 30, 2011 Share Posted November 30, 2011 Monthly budget: $1,100 They don't see to allow for visa runs to Laos for a Tourist Visa every few months. Then a new passport when they get 'The Red Stamp'. No need for that as the article was about retiring. Link to comment Share on other sites More sharing options...
muchogra Posted November 30, 2011 Share Posted November 30, 2011 Monthly budget: $1,100 They don't see to allow for visa runs to Laos for a Tourist Visa every few months. Then a new passport when they get 'The Red Stamp'. She probably assumes one can always live as an illegal Link to comment Share on other sites More sharing options...
hehehoho Posted November 30, 2011 Share Posted November 30, 2011 Monthly budget: $1,100 They don't see to allow for visa runs to Laos for a Tourist Visa every few months. Then a new passport when they get 'The Red Stamp'. No need for that as the article was about retiring. There certainly would be if you're on a retirement income of $1,100. What sort of income does one have to show for non-imm O based on retirement, is 40k, 60k, or 65k baht per month?? Link to comment Share on other sites More sharing options...
NancyL Posted November 30, 2011 Share Posted November 30, 2011 Yeah, the article left out the part about how if you're trying to live here on $1100 per month in Social Security income (a fairly average number), then you'll need to have about 400,000 baht in a Thai bank account in order to use the "combo" method to meet the financial requirement of a retirement visa extension. Oh, and $1100 per month doesn't leave much room for health insurance payments, does it? What is someone just scraping by on SS suppose to do if they're suddenly hospitalized? Medicare won't pay hospital bills in Thailand and you can't count on getting yourself back to the U.S. if you're suddenly hospitalized for something like an accident. Unfortunately, I know retired expats in exactly this situation and I hope this article doesn't encourage more to come to Chiang Mai. Link to comment Share on other sites More sharing options...
Semper Posted November 30, 2011 Share Posted November 30, 2011 Monthly budget: $1,100 They don't see to allow for visa runs to Laos for a Tourist Visa every few months. Then a new passport when they get 'The Red Stamp'. No need for that as the article was about retiring. There certainly would be if you're on a retirement income of $1,100. What sort of income does one have to show for non-imm O based on retirement, is 40k, 60k, or 65k baht per month?? The article did not mention anything about income. A retired couple can live here for as little as $1,100 per month, including rent and other basic expenses. Link to comment Share on other sites More sharing options...
elektrified Posted November 30, 2011 Share Posted November 30, 2011 There is an older guy living in my moobaan who claims to live on US $500.00 per month. He looks like it. I only see him ever leaving the moobaan on his bicycle about once a week to shop at the Thai market and once a month or so I see him waiting for a songtaew with his backpack on to go into the city. He's got 2 junked old motorcycles parked in the driveway that don't run. He sits out front and drinks Archa beer. Ahhhh retirement... Link to comment Share on other sites More sharing options...
Jingthing Posted November 30, 2011 Share Posted November 30, 2011 (edited) Yeah, the article left out the part about how if you're trying to live here on $1100 per month in Social Security income (a fairly average number), then you'll need to have about 400,000 baht in a Thai bank account in order to use the "combo" method to meet the financial requirement of a retirement visa extension. Oh, and $1100 per month doesn't leave much room for health insurance payments, does it? What is someone just scraping by on SS suppose to do if they're suddenly hospitalized? Medicare won't pay hospital bills in Thailand and you can't count on getting yourself back to the U.S. if you're suddenly hospitalized for something like an accident. Unfortunately, I know retired expats in exactly this situation and I hope this article doesn't encourage more to come to Chiang Mai. Yeah, that's correct, the example retiree would need about that amount in a Thai bank account. ONE TIME! Big deal. No requirement to spend one baht of that or transfer in even one baht annually. Yes, you can live rather cheaply in Thailand. I do think the concerns over long term medical care are a big deal and drive many long term expats back home when things get bad, if they can make it on an airplane. Edited November 30, 2011 by Jingthing Link to comment Share on other sites More sharing options...
justcruisin Posted November 30, 2011 Share Posted November 30, 2011 Interestingly enough, when I renewed my retirement visa today, Immi actually asked for supporting income documentation, the first time I have seen this. The dreamers who think they can retire here on $1100 a month will be sadly disapointed. Link to comment Share on other sites More sharing options...
Jingthing Posted November 30, 2011 Share Posted November 30, 2011 (edited) Interestingly enough, when I renewed my retirement visa today, Immi actually asked for supporting income documentation, the first time I have seen this. The dreamers who think they can retire here on $1100 a month will be sadly disapointed. I reckon you're talking about a different issue. Likely they wanted to you to prove that the income letter you got from your embassy was for real. Not the same thing as income requirement. In fact, you may retire in Thailand on extensions with income of ZERO baht. (Bank account method.) I think you can live quite easily in many parts of Thailand for 1100 bucks a month, not luxuriously, but better off than you would be in many areas of the west. Edited November 30, 2011 by Jingthing Link to comment Share on other sites More sharing options...
Lobo4819 Posted November 30, 2011 Share Posted November 30, 2011 I know of the individual who wrote the article in question, and a couple of people who (used to) contribute material for her. She has good connections in the media - U.S. News, Yahoo, CNN and others - who will publish her material without vetting because it gets "a lot of hits". Her research is shallow, and often omits critical information - no matter, because her "game" is to sell subscriptions to her newsletter (which also brings with it a tsunami of spam) and tickets to her "seminars" which purport to explain to people all of the necessary info with which to become an expat on little or nothing. Google (but don't click on any of the links) "Live and invest overseas" and you will see the full line of drivel she spews. Big hat, no cattle. Link to comment Share on other sites More sharing options...
Jingthing Posted November 30, 2011 Share Posted November 30, 2011 (edited) This is very old news. Chiang Mai has been touted in the overseas retirement promotion press as one of the top choices for at least a decade now. Las Tablas, Panama (as opposed to Panama in general which is also old news) and Columbia in general is much newer news. Cuenca Ecuador has experienced a kind of mini expat boom in the last few years due to being named top global choice by International Living. Malaysia is a daft choice for affordability due to the much higher retirement visa system requirements there vs. Thailand, etc. Edited November 30, 2011 by Jingthing Link to comment Share on other sites More sharing options...
OriginalPoster Posted November 30, 2011 Share Posted November 30, 2011 $1,100 a month now? That's terrible inflation then. I thought I read somewhere CM was listed as one of the 10 places in the world in 2010 that you could live 'comfortably' under $500. Wish that I could live on either one of those amounts. Link to comment Share on other sites More sharing options...
OriginalPoster Posted November 30, 2011 Share Posted November 30, 2011 Monthly budget: $1,100 They don't see to allow for visa runs to Laos for a Tourist Visa every few months. Then a new passport when they get 'The Red Stamp'. No need for that as the article was about retiring. There certainly would be if you're on a retirement income of $1,100. What sort of income does one have to show for non-imm O based on retirement, is 40k, 60k, or 65k baht per month?? Yes, you'd need to demonstrate that you have more income than that or else a lump sum of 800k on deposit, but there is no requirement that you spend that much. You could, for instance, park that 800k in a bank account and spend only a small portion each year if find that you are able to live on <<800k. Link to comment Share on other sites More sharing options...
uptheos Posted November 30, 2011 Share Posted November 30, 2011 Interestingly enough, when I renewed my retirement visa today, Immi actually asked for supporting income documentation, the first time I have seen this. The dreamers who think they can retire here on $1100 a month will be sadly disapointed. If you have 800,000 in a bank account untouched year after year, they sometimes ask to see what you've been living on for a year. i.e. another account you draw on or money being transferred in.. Link to comment Share on other sites More sharing options...
Jingthing Posted November 30, 2011 Share Posted November 30, 2011 Interestingly enough, when I renewed my retirement visa today, Immi actually asked for supporting income documentation, the first time I have seen this. The dreamers who think they can retire here on $1100 a month will be sadly disapointed. If you have 800,000 in a bank account untouched year after year, they sometimes ask to see what you've been living on for a year. i.e. another account you draw on or money being transferred in.. That is true but nothing to worry about if you can show how you have been living. They don't care if you are living loso, they DO care if you are WORKING illegally in Thailand. Link to comment Share on other sites More sharing options...
harrry Posted November 30, 2011 Share Posted November 30, 2011 This is very old news. Chiang Mai has been touted in the overseas retirement promotion press as one of the top choices for at least a decade now. Las Tablas, Panama (as opposed to Panama in general which is also old news) and Columbia in general is much newer news. Cuenca Ecuador has experienced a kind of mini expat boom in the last few years due to being named top global choice by International Living. Malaysia is a daft choice for affordability due to the much higher retirement visa system requirements there vs. Thailand, etc. But to make Malasia more afordible it sells low cost health insurance if the retiree is unable to purchase other health insurance because of chronic conditions. etc. Also half the deposit can be withdrawn after the first year to put into property which you are allowed to purchase and you are able to bring your car there. Link to comment Share on other sites More sharing options...
Jingthing Posted November 30, 2011 Share Posted November 30, 2011 This is very old news. Chiang Mai has been touted in the overseas retirement promotion press as one of the top choices for at least a decade now. Las Tablas, Panama (as opposed to Panama in general which is also old news) and Columbia in general is much newer news. Cuenca Ecuador has experienced a kind of mini expat boom in the last few years due to being named top global choice by International Living. Malaysia is a daft choice for affordability due to the much higher retirement visa system requirements there vs. Thailand, etc. But to make Malasia more afordible it sells low cost health insurance if the retiree is unable to purchase other health insurance because of chronic conditions. etc. Also half the deposit can be withdrawn after the first year to put into property which you are allowed to purchase and you are able to bring your car there. True that but real losos wouldn't be able to pony up to their requirements in the first place. Link to comment Share on other sites More sharing options...
uptheos Posted November 30, 2011 Share Posted November 30, 2011 (edited) "Consider settling down in Chiang Mai, perhaps the world's most affordable place to retire comfortable" Nah, nothing to do with cost, it's the culture, the endless temples, the smiles etc. Now I know why people say they need 100,000 Baht a month to live here.......they're just kidding, they don't want others to find out how cheaply they are living, in case people come here and push the prices up. Edited November 30, 2011 by uptheos Link to comment Share on other sites More sharing options...
Jingthing Posted November 30, 2011 Share Posted November 30, 2011 I'm surprised so many people think this is not doable. The keys would be cheap housing (or own a place) plus no major health problems, no sex worker addiction, not supporting a family, no need to eat frequently at western restaurants, and cheap transport. Doable. Link to comment Share on other sites More sharing options...
Ricardo Posted November 30, 2011 Share Posted November 30, 2011 (edited) I thought we were all supposed to keep quiet about this, what an excellent place Chiang Mai is to live, so as to avoid a mega-inflow of newbies, coming over here and eating our Pizza & Burgers, grrr... ? Edited November 30, 2011 by Ricardo Link to comment Share on other sites More sharing options...
lannarebirth Posted November 30, 2011 Share Posted November 30, 2011 From the link: I know a single American man living in Chiang Mai on only $200 a month, with half of that going for rent. He makes a sport out of spending as little as possible. That sounds like fun. I met a guy like that once in Lao. He was an urban planner in a major American city. He was trying to bargain the seamstress down fron the equivalent of 15 cents for repairing his tattered shorts. I miagine he was making six figures in the states and he was in Laos trying to rob this poor lady of her dignity. Spent a full 5 minutes at it. i don't think I'll ever forget that a-hole. Link to comment Share on other sites More sharing options...
Ulysses G. Posted November 30, 2011 Share Posted November 30, 2011 (edited) I'm surprised so many people think this is not doable. The keys would be cheap housing (or own a place) plus no major health problems, no sex worker addiction, not supporting a family, no need to eat frequently at western restaurants, and cheap transport. Doable. Very doable. I know a number of expats who live on less than 15,000 per month and are not suffering too much. They have to do visa runs all the time and look for deals on Western food and mostly eat in Thai noodle stalls, but rather do that than live back home on a strict budget. Edited November 30, 2011 by Ulysses G. Link to comment Share on other sites More sharing options...
hehehoho Posted November 30, 2011 Share Posted November 30, 2011 No need for that as the article was about retiring. There certainly would be if you're on a retirement income of $1,100. What sort of income does one have to show for non-imm O based on retirement, is 40k, 60k, or 65k baht per month?? The article did not mention anything about income. A retired couple can live here for as little as $1,100 per month, including rent and other basic expenses. Correct, it didn't. It highlighted the words 'Monthly Budget: $1,100' at the beginning of the piece, which is reasonable to assume that this is meant as enough if that is all you have. If you need to argue about such wording on an internet forum, may I suggest adding a constructive hobby to your day. Or perhaps it's something deeper. Link to comment Share on other sites More sharing options...
hehehoho Posted November 30, 2011 Share Posted November 30, 2011 So anyway, what is the income requirement for a non-imm o based on retirement? Link to comment Share on other sites More sharing options...
hehehoho Posted November 30, 2011 Share Posted November 30, 2011 (edited) I'm surprised so many people think this is not doable. The keys would be cheap housing (or own a place) plus no major health problems, no sex worker addiction, not supporting a family, no need to eat frequently at western restaurants, and cheap transport. Doable. This alone must wipe over 90% out. Edited November 30, 2011 by metisdead 30) Do not modify someone else's post in your quoted reply, either with font or color changes, added emoticons, or altered wording. Link to comment Share on other sites More sharing options...
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