Possibly Moving To Thailand

[Soutpeel]

Yes, I'm former USA military, I'm also from Illinois so I get 36 months of free tuition at a state school. And you do realize that my $1500 a month is us dollars right? I find it hard to believe that I can't live off of that in Thailand when I can live off that in the states easily.

Yes you can live off $1500/month, (Fully aware your talking about the North American peso.. ) No one has said you cant, but this is today...if you dont do anything else with your life can you say you can live of $1500/m in 10 or 15 years time either in the US or Thailand ?.....one suspects you will not be able to...Thailand is getting expensive and have seen this over the 12 years I have been here

If your getting 36 months free tuition in the US then use it...

Agree, well said.

Of course you can live well off US$1500 in Thailand; the vast majority of the population does so why wouldn't a foreigner be able to? Indeed, provided you stay away from museums, national parks and other tourist attractions that try to rip you off by their dual pricing practices, everything else costs the same for you as for every other Thai. Although the cost of living has increased significantly over the years, the fact that so many Thais can afford to buy new cars, even take holidays to Singapore, Malaysia, Laos, Hong Kong etc. as well as purchase the latest gadgets and eat at Fuji twice a week suggests that they are mostly in debt. It seems that a lot of 25-35 year old Thais on 30,000 THB incomes are driving the latest Civic or Vios on red plates, using iPhones or Samsung Galaxy phones, are trying to purchase a condo (or are making payments on one), eating at Black Canyon, Pizza Company or Fuji etc. where they'll easily rack up a bill of 300+ THB per person per meal (yes, that's about US$10!) but the only way they can do this is because they're living on credit.

Having said that US$1500 or about 45000 Baht shouldn't be a problem to live off, but without an income you won't qualify for a Thai credit card, although most Thai credit cards have very low limits of say 30,000-50,000 Baht, which is nothing compared to credit card limits in the west. So while you probably won't have an extravagant lifestyle, it's very possible to live a comfortable life here but you'll need to save for major purchases like a car rather than apply for credit and you'll also need to be careful about eating out at nice restaurants that cost as much as in the west - stick more to food courts, TV dinners and street food and of course self-catering and cooking yourself if you're keen on saving costs. Of course, be wary of paying US$5 just for imported spaghetti sauce (stick to the local US$1.50 varieties instead) otherwise even cooking yourself will become much more expensive than eating out at least compared to cheaper restaurants.

Doesnt your first sentance kinda contradict what you have said in the rest of the first paragraph ?....you say the population lives "well" (the defintion of "well" could be debated) on US $1500, but then go onto to say they are doing this all on credit.

"most Thai credit cards have very low limits of say 30,000-50,000 Baht, which is nothing compared to credit card limits in the west"

Strange comment as I have a Thai credit card and the limit is the same as my farangland credit card... ....the credit limit given on a credit card is typically due to your stated income not due to a countries specific policies

Further you have missed one of the biggest expenses the OP will get himself involved with in Thailand....A Thai girl or boy (if he is that way inclined) and may find very quickly that US $ 40k in savings and US 1500/m will not give him the comfortable life style your are alluring to, as said girl or boy will expect all the things you are talking about in the first paragraph..ie the I-phones etc...

[Old Croc]

This may be of interest for the OP:

http://money.usnews.com/money/blogs/On-Retirement/2013/06/03/phuket-thailand-gets-more-appealing-for-retiree

Edited June 4, 2013 by lopburi3
Invalid link

[55Jay]

Antomine,

ThaiVisa has a forum/thread for just about everything you need to know, including region/province specific boards, so read up on the basics then post questions to clarify procedures and dig for anecdotal info.

Suggest the PCS procedure - make a check list, which will surely grow as you read and learn more:

- Visa from a Thai Embassy/Consulate before you punch out of CONUS (related to next bullet)

- Border runs and regional visa options when the time comes (if you decide to stay longer).

- Shipping over some minimal personal effects.

- Finding less expensive crash pad while you get your initial bearings.

- Driving.

- Medical - offered help from the VFW guys is a fantastic resource for info and assistance.

- Getting your snail mail to Thailand via family or a forwarding service.

- Having a high ball budget and initial dump fund for the first week on the ground, at least.

- Banking. Important to avoid needless fees just to get at that $1,500. Read up on the Banking Thread and get yourself organized in and/or linked to a No Fee account with ATM before leaving the States ~ Charles Schwab Bank Checking account is an option many here utilize.

Can't help to be curious what your background and experience is when you say you love the "Asian way of life". You been to Thailand before?

J

[phuketrichard]

Yes, I'm former USA military, I'm also from Illinois so I get 36 months of free tuition at a state school. And you do realize that my $1500 a month is us dollars right? I find it hard to believe that I can't live off of that in Thailand when I can live off that in the states easily.

$1,500 easy

IF ( an BIG IF)

ur not a drinker an don't take bar girls home, other wise NO

36 months of school ?? wouldn't that just be if u stayed in the states? IF so take advantage of it.

and make trips to Thailand during ur breaks /downtime and see if u like it.

Take courses that interest you

$40,000 is not much, if u buy a car an motorcycle that will eat half of that easily

For mtn biking Chaing Mia.Chaing Rai area would be great, ( i used to mtn bike) look at the gt-riders forum for trips around the north

Edited June 4, 2013 by phuketrichard

[foxteen]

I am retired and I will receive this pension for the rest of my life. And I very much intend to lounge around Thailand for the rest of my life .

I will want to ship my bike to myself once I am there. Does anyone predict that I will have a problem with that?

Is the 40k stated and $1500/m all the income/savings you got ? as you will not be living on that for the rest of your life in Thailand....THB 45k although a livable amount today in Thailand, one suspects in 10-15 years time..it will not be worth sh*t

One suspects living in Thailand at this point in your life at 33 with no further plans other than riding your bike will only turn out badly in the long term..

There is another popular sport in Thailand called balcony diving which you dont want to get involved in...

Hahahaha i like that balcony diving

[robertthebruce]

Hi

Cycling and Thailand dont mix thats for sure..

Very Very Dangerous here , Cycling is definetly not recommended...

[NCC1701A]

U.S. veterans thank you for your service to your country.

Edited June 4, 2013 by NCC1701A

[NCC1701A]

Antomine if I were you, at your age this is what I would do. Go to college in the U.S. Have the government pay for it. Get your degree. Find a small condo or house near the college in the $80k range and buy it using part of your $40k savings and a home loan for G.I.'s. Chose a state that has no state income tax:

http://americanexpatchiangmai.com/state-income-taxes-for-an-american-expat/

While in college, live super frugally, and save every penny.

Live in the condo/house while you are in collage, then hire a property management company and rent the house out after you get your degree. A cap rate of 6% is typical for a house/condo near a university. Austin Texas is a example, but you can't afford that so look else where. With a small mortgage, you may only break even, but at least you have invested in real estate, have many tax write offs and a place to return to in the U.S. if need be. The time frame for the investment is 20 years. Over time, the property will go to a positive cash flow, even if it is just $200 a month. The property will appreciate in value over 20 years.

Then go to Thailand, get a job teaching English with your degree, now you are earning $1000 a month in Thailand, and your $1500 a month pension less whatever your rental property may or may not cost you.

In five years you could save enough to buy a small condo in Chiang Mai.

I would not spend any of your savings on anything like a car or motorcycle.

Remember, as a U.S. citizen, there is no escaping the IRS, and it will only get worse. Look here:

http://americanexpatchiangmai.com/fbar-statements-must-be-filed-soon-with-the-irs-by-american-expats/

So while you are still young, invest long term, so when you are 50 plus you can really relax and not worry about too much.

It is impossible to know what will happen with the U.S. dollar, the 17 trillion dollar debt and the governments ability to pay your pension. You should give that some thought and research.

The rules of engagement in Thailand are ZERO CONFRONTATION. Down south you will see drunk Russians with attitude and all sorts of Middle Eastern types. Take a very low profile or you will lose. They will be all around you on buses and minivans, in close quarters for long periods of time. Think CIA not USMC.

There is no reason you can't do this, and check out Cambodia, where you can work, start a business and get a visa for $300 a year.

Good luck.

[NCC1701A]

On second thought, if you want to go balls out, take your $40k and beat someone up on their price and pay cash for a $50k condo in Chiang Mai right now. No debt. Rent it out and make $300 gross a month in country. You would then have a asset outside the US. Go to college. Degree. Job. Thai job income tied to inflation. Thai asset tied to inflation. Two different incomes from two different countries in two different parts of the world. Get that $1k job and start saving your money in any investment over the next twenty years.

Inflation. What cost $1500 in 1982 would cost $3512.81 in 2012. So your $1500 COULD be $615.78 thirty years from now.

http://www.westegg.com/inflation/

[mav000]

First, do whatever makes YOU happy. But make sure you consider a one year, five year, ten year, and beyond plan. Some things to consider: anticipated inflation rate long term, health insurance costs, monthly budget (food, housing, utilities, transportation, misc.), daily activities to avoid boredom/depression.

If I were you, I would take the $40,000 now and invest in the markets. Considering your age, you can ride out any volatility. The banks are paying nothing, invest in a broad market exchange, such as SP 500. Don't touch this money, let it grow. If you have not done so, open a IRA account, and max it out each year.

Next, if you want to move here now, not waiting to build your wealth, I would search for employment here. Not sure what your specialty is, but there are jobs here with major companies paying relatively well. At the very least, you can easily get a teaching job, check out the internet to find out requirements, it is not that difficult. A teaching position, depending on your lifestyle, may take care of your monthly expenses. You could then take maybe $500 a month for entertainment and save a $1000 month. Again, I would keep stashing money away each month for emergencies, and simply to build more wealth.

Good luck.

[mjsansai]

Don't be like 99% of all westerners, the first thing you should do is spend six months in bangkok learning the language at AUA (Natural Program 3 to 5 hours a day) from 8 to 12 in the morning. Then you can do anything you like. I am always amazed at Westerners who complain at the emmigrants in own country that they can't speak English, but when they come here they get a translator at the bar and are taken for a ride.