Retiring In Thailand.

[coxhoedave]

Retirement in Thailand was always on the back of my mind since I first visited back in the early 80s. However over the years my thoughts of a Thailand retirement faded as prices continued to rise and the pound declined.

While looking on the net the other night I came upon the site retirecheap.asia. The American guy who runs the site who goes by the name of JC has dozens of youtube videos looking into all aspects of retirement in Thailand. He interviews lots of people mainly Americans about surviving on various incomes, some only $500 a month (something I would never contemplate). He's reignited my thoughts about possible retirement over there some day.

I haven't been on here for a while so if this has been discussed before accept my apologies but has anyone here seen his videos or met the guy? .

[yoslim]

I put in 500$ in his budget calculator and it put 900 baht for laundry, this guy must have lost his mind.. I don't spend more than 100 baht on laundry in a month

[pigeonjake]

i think your right about the prices of thing and the bht being storng,

saying that it is still a beautiful place to come and retire, i would just say make sure you have enough money even if it means working for the extra couple of years to make sure,

im still working, im 52, we have a small pig farm but i still work, making sure i will have enough even if the pigs didnt work,

its about planing at the end of the day, you wouldnt go on holiday without money so why do some think they can retire without money,

jake

[coxhoedave]

i think your right about the prices of thing and the bht being storng,

saying that it is still a beautiful place to come and retire, i would just say make sure you have enough money even if it means working for the extra couple of years to make sure,

im still working, im 52, we have a small pig farm but i still work, making sure i will have enough even if the pigs didnt work,

its about planing at the end of the day, you wouldnt go on holiday without money so why do some think they can retire without money,

jake

Thanks for that Jake I'm 52 too.

I'm drawing a company pension and working here in the UK. I've been married for 21 years to a Thai and we have a 16 year old son who is wanting to go to university in a couple of years time so nothing will be happening for a good while yet.

We own a small herd of Indu Brazil cattle over there which is getting bigger all the time may be worth a bob or two in a few years time. If we do return the missus insists she would never contemplate not working. When the time is right we will give it a 6-9 month trial run.

[pigeonjake]

im in the uk at the moment, scotland working at longannet power station, welding supervisor,

im back home on the 9th nov after ive been to england and had a bit of time fishing with my son,,

it does me fine, ill of done 5 months work this year, i like to come away to work to be honest i miss the craic with the boys when im not working, so i get the best of both worlds, i earn good money, see my son and daughter here in the uk, and save for when i do say thats enough,

i was working in brazil and africa, but i wasnt getting to see the kids in england, as i was 8 and 4 rotation, so this for me is better,

and like i say our pig farm makes enough for us to live on when im at home, and we can make it bigger when i do retire, we are just builing up pur customer base, so that too will get better,

good luck mate,, jake

[Beetlejuice]

$500 per month? That amount wouldn`t even last me two weeks and my family and I are by no means living the high life.

If you`re already concerned about money and not even here yet, than I`d think again about retirement in Thailand.

Over here you need doh and lots of it. It`s becoming more expensive year by year, plus the bank exchange and interest rates are crap.

Unless are able to pull at least 35000 baht a month out of the hat, plus a minimum of 3 million baht savings for back up medical expenses and other unforesee expenses, than you had better be prepared for years of struggle if you make it over here.

i once began to view one of that JCs (thinks he`s Jesus Christ, JC) videos. The guy lost all credibility with me after the first 5 minutes.

[coxhoedave]

$500 per month? That amount wouldn`t even last me two weeks and my family and I are by no means living the high life.

If you`re already concerned about money and not even here yet, than I`d think again about retirement in Thailand.

Over here you need doh and lots of it. It`s becoming more expensive year by year, plus the bank exchange and interest rates are crap.

Unless are able to pull at least 35000 baht a month out of the hat, plus a minimum of 3 million baht savings for back up medical expenses and other unforesee expenses, than you had better be prepared for years of struggle if you make it over here.

i once began to view one of that JCs (thinks he`s Jesus Christ, JC) videos. The guy lost all credibility with me after the first 5 minutes.

I didn't say I was concerned about money. I mentioned $500 as he was interviewing retirees living on this, I said in the OP I wouldn't even contemplate this. Our monthly income would be higher than the 35,000 baht you mentioned. I was merely curious as to peoples views on JC.

[jacktrip]

$500 per month? That amount wouldn`t even last me two weeks and my family and I are by no means living the high life.

If you`re already concerned about money and not even here yet, than I`d think again about retirement in Thailand.

Over here you need doh and lots of it. It`s becoming more expensive year by year, plus the bank exchange and interest rates are crap.

Unless are able to pull at least 35000 baht a month out of the hat, plus a minimum of 3 million baht savings for back up medical expenses and other unforesee expenses, than you had better be prepared for years of struggle if you make it over here.

i once began to view one of that JCs (thinks he`s Jesus Christ, JC) videos. The guy lost all credibility with me after the first 5 minutes.

3 million baht for unforeseeable expenses. never know when you may be called upon to build a new village!

[meatballs]

His calculator is messed up. I put in 65k for income and it gave me 8k for food. I spend 20k for food and I'm starving.

[jcgodber]

His calculator is messed up. I put in 65k for income and it gave me 8k for food. I spend 20k for food and I'm starving.

Excuse me..... are you saying you are spending 666 baht a day for food and are starving??????

[JeffreyMcCollum]

you can make anything work if you really want it to

With owning my home free and clear, as well as my car, truck, and motorbikes.

It easy to live on 16,000 Baht a month. not in a resort town, not in BKK but in the relaxed country side or north.

I like the warm weather and relaxed ways, but to each their own.

[CharlieH]

As with almost any country location is a huge factor, if you stay in Pattaya, Bangkok, or on Samui as an example, its far different in expenses to what it would be in the North rural areas.

I would say 50k baht a month (includes car payments). would be fine in a rural setting. but that of course depends also on life-style, you like to spend long hours in a bar and have the air-con cranked on 24/7 then its not enough.

Someone mentioned laundry somewhere, we are a family of 3 and we spend 60 - 80 baht per week, so where the several hundred comes from is beyond me.

Edited September 22, 2012 by CharlieH

[Pormax]

Sorry not seen the JC videos and do not think that they would be a lot of use because time changes things and your outlook on life here would be totally different to those views.

I am sure that you are aware that it is almost impossible to come here even with a Thai wife and live like the locals do as you have got used to the western style and standard of living.

I live in a rural village and could not contemplate living on less than 50- 60K a month. Yes I have internet and True Visions, run a large car, have a 2,000 Baht electric bill every month and unfortunately still smoke but neither my wife or I drink alcohol. I do have a 15 year old daughter that costs me over 2,500 for school each month plus other costs which that is associated with school such as uniforms.

I have been coming to Thailand for over 6 years but only lived here permanently for just over 2 years but the increase in the cost of living is rising rapidly and that is not taking into account the exchange rate from GBP to baht.

There is no doubt you could live here on a very small budget, asthe locals do, but as I said in my opening this would be really difficult for you and your family to do and you would not be happy.

There again if you have a Thai wife you will no doubt have made many trips to Thailand so should have a good idea about what to expect.

Thailand for me is a great place for retirement. Yes there are frustrating times but once your mindset is in order then like me you will love it.

[lovelomsak]

Retirement is a different thing to different people. It all depend on your wants and needs that will determine if Thailand is your retirement spot. As far as costs go that is also relative to your lifestyle. I knew a guy who lived here on $200 American a month. He had a motorcycle and took advantage of any and all opportunities to eat for free.He rented a 2bedroom townhouse and when he ate at home was basically vegetables.But he survived. He just socialized a lot for his entertainment visiting people.

Now if you want to golf,eat in good restaurants,drink etc, then you set your own budget.Depends on the liqour you drink and restaurants you frequent.

If you are happy on your farm then costs are relative to your farming costs and whether or not you make a profit. You seem to have the farm already so deciding on lifestyle is your only area to look into as far as costs go.

I think a guy is far smarter to work than retire,unless he has a very good concept of what he will do in retirement.

[poanoi]

Kinda agree with @beetlejuice that you should get around 35.000 baht a month,

so you can enjoy gogo etc.

But disagree that you should have any savings.

You see, scammers & hookers & thieves will clean you out no matter what,

so you will get street-smart a whole lot sooner the less you have

[Swiss1960]

i have been looking at many websites in many different languages during my retirement preparation process... and what ever those are, they all did give value to my thinking... some are just amusing, some are giving lot of good advices (for me specially those from Swiss guys who talk about their experiences with insurance, Swiss retirement funds, procedures etc.), some are giving lot of information about how NOT to do it...

But at the end of the day, no website can match all... do you want to live rural or in town... do you want to eat Western or Thai... do you want to live family life or beer bar girl life... do you want to buy or rent...

Websites that talk about / give advices about how much money "you" need for retiring in Thailand are pretty much stupid... nobody with clear thinking will retire to Thailand without having been here and seen all (including pricing). Only then, you can do your own budgeting once you know how and where you want to live and which qualities you are looking for in your retirement age.

[Mike45]

I agree that no one can tell you what it will cost to live in Thailand because we all live differently. I do think that web sites, YouTube videos like JC' and Phil in Bangkok and personnel experiences conveyed on this site are very helpful. I treat the information like reading a menu. I pick and choose what I believe I am interested in to put together my situation and try to figure out what it will cost.

[Beetlejuice]

$500 per month? That amount wouldn`t even last me two weeks and my family and I are by no means living the high life.

If you`re already concerned about money and not even here yet, than I`d think again about retirement in Thailand.

Over here you need doh and lots of it. It`s becoming more expensive year by year, plus the bank exchange and interest rates are crap.

Unless are able to pull at least 35000 baht a month out of the hat, plus a minimum of 3 million baht savings for back up medical expenses and other unforesee expenses, than you had better be prepared for years of struggle if you make it over here.

i once began to view one of that JCs (thinks he`s Jesus Christ, JC) videos. The guy lost all credibility with me after the first 5 minutes.

3 million baht for unforeseeable expenses. never know when you may be called upon to build a new village!

Never know if you or a member of your family is going to be smashed up in a road accident, never know if you or a member of your family is going to be struck down with a serious illness or require a major life saving operation, never know if the money required in a Thai bank to obtain a yearly visa will be increased, never know if the house you have built will become destroyed in an earthquake or by fire and has to be rebuilt, sons university fees for 4 years and maybe further education after that, not cheap and the list goes on.

Anyone that plonks themselves over here with just enough money and no financial safety net is a fool.

3 million baht is not a fortune these days and consider how much that will be worth in the next 10 years compared with today’s valuations?

The OP asked if anyone has seen that JCs videos, I have and basically he’s about living in Thailand and other parts of South East Asia like a pauper.

Here is one of his videos, so you can form your own opinions. He does tend to ramble on about a load of irrelavant crap before getting to the point, so try not to fall asleep before the video’s finished.

Edited September 22, 2012 by Beetlejuice

[citi]

I agree to Beetlejuice totally. The price goes up very quickly. We bought a house 23 years ago with a cost of 2.1 million THB near bangkok and the house remains vacant up to now. Last month, my house was ransacked by thieves. Since the house is empty, the thief cut and took fuse box, electrical cable, compressors of the air conditioners and removed all water taps. The thief also climbed up to the false ceiling to search any valuable things up there. As a result, the false ceiling boards fall apart. The thief took very little valuable stuff away but caused a lot of damage of the house. Since we plan to retire in Thailand next year, we asked for the price of the renovation of the whole house. The quotation is astonishing: 4.4 million THB not including air conditioners, lightings, tiles, etc. Similarly the price of food, travel, etc go up tremendously as compared with 23 years ago. Of course, I must admit the living cost in Thailand is still cheaper than H.K. (where I am living). Since I plan to stay in Thailand for 6 months and then 6 months in H.K., I need to plan my retirement more carefully regarding the spending.

[chris2004]

I'm not sure it's more expensive to live in say Pattaya (where i live) than in the countryside. OK housing is probably more expensive but i own my condo so that's not a factor. Even here you can still get a 40 baht thai meal, a 55 baht large Leo, a 10 baht taxi ride. In fact with such good public transport you don't need to own a car which you probably need to do in the boonies. Most standard things like electricity, internet, Truevisions, petrol etc cost the same across the country. You only will spend more if you want to.

[GuestHouse]

I sometimes wonder if, in the eyes of Thailand's expats, there is any greater crime than being poor. The scorn dished out on people don't meet other people's idea of what constitutes a 'reasonable' income is quite sickenning.

Perhaps they're actually ranting against their own feers.

[Sharp]

Sorry not seen the JC videos and do not think that they would be a lot of use because time changes things and your outlook on life here would be totally different to those views.

I am sure that you are aware that it is almost impossible to come here even with a Thai wife and live like the locals do as you have got used to the western style and standard of living.

I live in a rural village and could not contemplate living on less than 50- 60K a month. Yes I have internet and True Visions, run a large car, have a 2,000 Baht electric bill every month and unfortunately still smoke but neither my wife or I drink alcohol. I do have a 15 year old daughter that costs me over 2,500 for school each month plus other costs which that is associated with school such as uniforms.

I have been coming to Thailand for over 6 years but only lived here permanently for just over 2 years but the increase in the cost of living is rising rapidly and that is not taking into account the exchange rate from GBP to baht.

There is no doubt you could live here on a very small budget, asthe locals do, but as I said in my opening this would be really difficult for you and your family to do and you would not be happy.

There again if you have a Thai wife you will no doubt have made many trips to Thailand so should have a good idea about what to expect.

Thailand for me is a great place for retirement. Yes there are frustrating times but once your mindset is in order then like me you will love it.

Good post...

Sent from my iPad using ThaiVisa app

[oldsailor35]

As with almost any country location is a huge factor, if you stay in Pattaya, Bangkok, or on Samui as an example, its far different in expenses to what it would be in the North rural areas.

I would say 50k baht a month (includes car payments). would be fine in a rural setting. but that of course depends also on life-style, you like to spend long hours in a bar and have the air-con cranked on 24/7 then its not enough.

Someone mentioned laundry somewhere, we are a family of 3 and we spend 60 - 80 baht per week, so where the several hundred comes from is beyond me.

I live on Samui quite comfortably on Bht 45,000 month (my pension) only need to tap into my savings for luxuries or overseas trips. Rent a 1 b/r bungalow fully contained within sight of the beach .

[Gweiloman]

I agree to Beetlejuice totally. The price goes up very quickly. We bought a house 23 years ago with a cost of 2.1 million THB near bangkok and the house remains vacant up to now. Last month, my house was ransacked by thieves. Since the house is empty, the thief cut and took fuse box, electrical cable, compressors of the air conditioners and removed all water taps. The thief also climbed up to the false ceiling to search any valuable things up there. As a result, the false ceiling boards fall apart. The thief took very little valuable stuff away but caused a lot of damage of the house. Since we plan to retire in Thailand next year, we asked for the price of the renovation of the whole house. The quotation is astonishing: 4.4 million THB not including air conditioners, lightings, tiles, etc. Similarly the price of food, travel, etc go up tremendously as compared with 23 years ago. Of course, I must admit the living cost in Thailand is still cheaper than H.K. (where I am living). Since I plan to stay in Thailand for 6 months and then 6 months in H.K., I need to plan my retirement more carefully regarding the spending.

4.4 million for renovation / repairs? You are 100% being taken for a ride (unless you are planning to fit gold plated taps, granite worktops etc etc).

If you can afford to live 6 months in Hong Kong upon retirement, you shouldn't even need to worry about how much things cost in Thailand. I've lived on and off for a total of 10 years in Hkg since 1990 and still go there every month for business / leisure and what I spend a night out in Hong Kong, I can spend for a month in Thailand.

[Naam]

I put in 500$ in his budget calculator and it put 900 baht for laundry, this guy must have lost his mind.. I don't spend more than 100 baht on laundry in a month

that's why nobody uses the elevator with you

[citi]

@Gweiloman: You are quite right. My wife is also surprised to see price. What you mentioned above i.e. gold plated taps, kitchen facility) is not included in the quotation. The scope of the renovation work is (1) replacement of rooftiles with CPAC Monier and wooden windows with uPVC double glaze windows (because of leaking), tiles & sanitary wares in toilets, G/F (dining & living Rms) (too old) (2) Electricity system ( changed to 3 phase + grounding) and drinking & sewage pipes (all broken) and (3) reinforce garage and washing slab by means of bored piling and reinforced concrete slabs (sink because of improper design by the developer). The wooden floor & wardrobes at 1/F., were repainted and made good. What I am going to do is to spilt up the whole project into smaller ones. Currently I find another contractor who asked for a price of 650,000 THB for reinforcing the garage and washing slab and one concrete slab for water storage tanks + pumphouse by means of bored piling and reinforced concrete slabs.

Maintaining houses in Thailand and H.K. are expensive in terms of cars, maids, etc. As said, I need to consider carefully in respect to my limited pension i.e. I might give up the retirement plan in Thailand by selling the broken house because my children work in H.K.

[Jay Sata]

@Gweiloman: You are quite right. My wife is also surprised to see price. What you mentioned above i.e. gold plated taps, kitchen facility) is not included in the quotation. The scope of the renovation work is (1) replacement of rooftiles with CPAC Monier and wooden windows with uPVC double glaze windows (because of leaking), tiles & sanitary wares in toilets, G/F (dining & living Rms) (too old) (2) Electricity system ( changed to 3 phase + grounding) and drinking & sewage pipes (all broken) and (3) reinforce garage and washing slab by means of bored piling and reinforced concrete slabs (sink because of improper design by the developer). The wooden floor & wardrobes at 1/F., were repainted and made good. What I am going to do is to spilt up the whole project into smaller ones. Currently I find another contractor who asked for a price of 650,000 THB for reinforcing the garage and washing slab and one concrete slab for water storage tanks + pumphouse by means of bored piling and reinforced concrete slabs.

Maintaining houses in Thailand and H.K. are expensive in terms of cars, maids, etc. As said, I need to consider carefully in respect to my limited pension i.e. I might give up the retirement plan in Thailand by selling the broken house because my children work in H.K.

That's not a bad idea. Better to rent than buy in Thailand as you have no right to ownership or residency.

[Gweiloman]

@Gweiloman: You are quite right. My wife is also surprised to see price. What you mentioned above i.e. gold plated taps, kitchen facility) is not included in the quotation. The scope of the renovation work is (1) replacement of rooftiles with CPAC Monier and wooden windows with uPVC double glaze windows (because of leaking), tiles & sanitary wares in toilets, G/F (dining & living Rms) (too old) (2) Electricity system ( changed to 3 phase + grounding) and drinking & sewage pipes (all broken) and (3) reinforce garage and washing slab by means of bored piling and reinforced concrete slabs (sink because of improper design by the developer). The wooden floor & wardrobes at 1/F., were repainted and made good. What I am going to do is to spilt up the whole project into smaller ones. Currently I find another contractor who asked for a price of 650,000 THB for reinforcing the garage and washing slab and one concrete slab for water storage tanks + pumphouse by means of bored piling and reinforced concrete slabs.

Maintaining houses in Thailand and H.K. are expensive in terms of cars, maids, etc. As said, I need to consider carefully in respect to my limited pension i.e. I might give up the retirement plan in Thailand by selling the broken house because my children work in H.K.

If I were you, I would sell the broken house in Thailand, rent another (also in Thailand), retire in Thailand and only visit Hkg a few times a year (excluding July - September of course). You would be having a much much better standard of living compared to retiring in Hkg.

I cannot think of one reason to want to retire in Hkg (talking about retiring, not working)

[Mad Hatter]

Only way to live on $500/mo is to live like a local in smaller towns of Thailand, not something many Westerners would want to do I don't think.

My case, I'm American looking for a place to retire with my wife using the following criteria in no particular order...cost of living, food, temperate or warm climate, things to do for fun, safety, health care quality and cost, exercise/weights & yoga. Looking at Thai, Malay, Ph, Argentina, Chile, Peru. I'm still working but have enough saved up to live for 20+ years in these countries plus I'll have pension & investment income of $4-5K usd for 10 years until I hit 65 (when I'll get U.S. social security & health care) so hoping to avoid dipping into savings. We could possibly retire early in the U.S. but we would be looking at $1500/mo for a good helath policy until we hit 65 and don't want to have to live a lowered lifestyle than we've grown accustomed to.

We have visited to Thai on several occasions and like it quite a lot, especially Bangkok & Chiang Mai. But she's not sure about committing to living in a country so far and so different culturally If anyone has lived or spent considerable time in 2 or more of the 6 countries, I would love to hear your comparisons and thoughts.

[jacktrip]

Never know if you or a member of your family is going to be smashed up in a road accident, never know if you or a member of your family is going to be struck down with a serious illness or require a major life saving operation, never know if the money required in a Thai bank to obtain a yearly visa will be increased, never know if the house you have built will become destroyed in an earthquake or by fire and has to be rebuilt, sons university fees for 4 years and maybe further education after that, not cheap and the list goes on.

Anyone that plonks themselves over here with just enough money and no financial safety net is a fool.

3 million baht is not a fortune these days and consider how much that will be worth in the next 10 years compared with today’s valuations?

The OP asked if anyone has seen that JCs videos, I have and basically he’s about living in Thailand and other parts of South East Asia like a pauper.

being "safe" is expensive. if you need to be completely free of risk thailand is probably not for you.

Edited September 22, 2012 by jacktrip