Living in Chiang Mai on $500 a month?

[NancyL]

Foreigners, not so familiar with Thailand, thinks that this country is just Bangkok, Hua Hin, Pattaya, Chiang Mai and Phuket....and LIFE IN THAILAND is just to be in "vacation" every day and night, and not to become active member ot its community and culture. After 4 years living here, I am thinking in write a book about RETIREMENT IN THAILAND WITH A TOTAL EXPENSE OF $500/MONTH..

I'll be very interested in the chapters on how to handle the financial requirements for a retirement visa -- you know that bit about having to demonstrate an income of 65,000 baht/month or 800,000 baht in a Thai bank or a combo

and then that other chapter about how to handle medical expenses since there's no free medical care for foreigners

and also the chapter about how to maintain the discipline to have enough funds set aside to return to your home country should things go wrong.

Heck -- there's three chapters right there!

I'll let you handle the rest.

[northernjohn]

I've met a number of people who tell me how inexpensive it is for them to live in CM, but the numbers usually work out to be between 400-1000 a month. I tell them, "OK, let's say you can do it for $500 (not including airfare home), that is still $6000 a year. You are 35, hopefully live until 80......that is $270,000. do you have that?" They laugh.....so then I ask if they have $60,000 for 10-years of living cheap. They laugh. I say, "how about $30,000?" Of course they don't answer.

Even "cheap" cannot be sustained if you plan to stay for a long-time without an income stream. I would not rely on teaching to cover this expense every month.

Your premise assumes that these individuals did not have any saved money which probably will might be true for many.

If someone was a very thrifty back home with a great paying job, they could have saved at least US $100K over 10 to 15 years which is now invested earning them between 4% and 8% or 125kbaht to 250kbaht annually. Now add a teaching job earning them 140Kbaht annually (20K x 7 months). Of course, if they were that thrifty to save $100K and aren't driven by their small brain, they'll be smart not to tell their girl friend's/wife's about their supporting lifeline nest egg.

I have to say while this is viable I have not met many o that premise...most are rather clueless about retirement planning

There are sooo many retired people in Chiang Mai, I doubt that anyone can really gauge if most are clueless or not.

If they are retired here legally what is the difference if they are clueless or not. They have plenty of money top live on. Not luxuriously but very comfortably.

I could actually live very luxuriously if it was not for the money I spend on the wife's family and kids education. As is I live very comfortably and haply. The money spent on improving the lot of the wife's family is some thing I feel very good about.

[hml367]

Foreigners, not so familiar with Thailand, thinks that this country is just Bangkok, Hua Hin, Pattaya, Chiang Mai and Phuket....and LIFE IN THAILAND is just to be in "vacation" every day and night, and not to become active member ot its community and culture. After 4 years living here, I am thinking in write a book about RETIREMENT IN THAILAND WITH A TOTAL EXPENSE OF $500/MONTH..

I'll be very interested in the chapters on how to handle the financial requirements for a retirement visa -- you know that bit about having to demonstrate an income of 65,000 baht/month or 800,000 baht in a Thai bank or a combo

and then that other chapter about how to handle medical expenses since there's no free medical care for foreigners

and also the chapter about how to maintain the discipline to have enough funds set aside to return to your home country should things go wrong.

Heck -- there's three chapters right there!

I'll let you handle the rest.

Why couldn't the person have a savings account of 800,000 THB in addition to the amount they live on?

The person could have another account with a substantial amount in case of emergency.

To purchase a plane ticket out of Thailand either one of the bank accounts should take care of that.

Just because someone would decide to "live" on $500 per month does not mean they do not have an abundance of money, not necessarily from a trust account. Many posters on ThaiVisa have posted that they have been successful and were able to "retire" at a very early age.

Edited November 30, 2014 by hml367

[umbanda]

Foreigners, not so familiar with Thailand, thinks that this country is just Bangkok, Hua Hin, Pattaya, Chiang Mai and Phuket....and LIFE IN THAILAND is just to be in "vacation" every day and night, and not to become active member ot its community and culture. After 4 years living here, I am thinking in write a book about RETIREMENT IN THAILAND WITH A TOTAL EXPENSE OF $500/MONTH..

I'll be very interested in the chapters on how to handle the financial requirements for a retirement visa -- you know that bit about having to demonstrate an income of 65,000 baht/month or 800,000 baht in a Thai bank or a combo

and then that other chapter about how to handle medical expenses since there's no free medical care for foreigners

and also the chapter about how to maintain the discipline to have enough funds set aside to return to your home country should things go wrong.

Heck -- there's three chapters right there!

I'll let you handle the rest.

I have the answers for your concerns, but I will not do it here. Just a clue... $500 TOTAL EXPENSE.....with $1,000 TOTAL INCOME...AND NOT INITIAL OWN MONEY IN YOUR BANK ACCOUNT. I leave the rest for you to figure out. With some good math and imagination, you will get the figures to cover all your doubts. Anyway...you said the magic word...DISCIPLINE. That's include COMMON SENSE, GOOD FRIENDS, GOOD LUCK, HEALTHY LIFE STYLE, AND GOOD ATTITUDE. Without any of that, no money will be enough to have a good life in Thailand.

Edited November 30, 2014 by umbanda

[WinnieTheKhwai]

As I wrote probably most 35ish guys may not had the foresight to save enough money but there are many foreigners in there 40s to 60's that probably saved a decent nest-egg that they are living on through investment and additional Thai income.

Besides if you asked anyone if they have $???,000 saved, unless they are naive and answer you truthfully, you probably might get a flippant reply or "it's none of your business"

Depends on the amount of money you are asking about. I might be honest and tell you the truth. It doesn't matter I have more than enough coming in monthly guaranteed. I do have money put away for the wife when I die as I am 15 years older than her and chances are will pass before her. I do not feel it would be rite for her at her age to have to go back to a job that paid minimum wages with no chance for more at her age.

I believe that if the truth were known many of the Ex Pat's here are trust fund babies. No I am not a trust fund baby.

Mind you I see where you figure they have not planned well either they have to have an additional Thai income. How many of them get that income through their working wife?

That would be an option if we didn't have kids, mortgages, etc... (She makes about $1500. To stay in USD terms)

So that could be a good chapter in that book on living on $500.. : Find a wife with some money and/or a job and stop worrying about the $500 limit.

Edited November 30, 2014 by WinnieTheKhwai

[VegasVic]

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I think it's not too difficult to live on $500/month; but as many have pointed out, without a financial safety net, medical care to extend life through illness and to make life more bearable as it comes to an end may be out of reach. This seemed obvious to me anyway.

Loaded, Yours is the most logical and succinct post that I have read on this curious thread so far alt=thumbsup.gif> If the question is can someone come to Chiang Mai for 6 months or a year and try and get by on $500/mo, then the answer is yes, as long as that person didn't have any bad habits like smoking, drinking or whoreing around alt=rolleyes.gif> On the other hand if the question is can someone who has decided to retire here permanently (or semi permanently) get along on $500/mo then the answer is likely no, given the eventuality of medical/dental work needed and potential future inflation (although I don't think that inflation is in the cards for Thailand over the next few years). Now do to economies of scale, a couple could certainly retire in Chiang Mai for perhaps $1200 U.S./month ($600/mo each) with basic BUPA ins. for each of them (providing that they were not over 70 years old) and live quite decently as long as they once again didn't have any bad habits to support. This an interesting thread although in reality if someone really only had $500/mo income to live on in the U.S., Canada and certainly most of socialist Europe then they might as well stay at home and suck the teet of governmental social programs in those countries for the remainder of their lives alt=whistling.gif>

" suck the teet of governmental social programs "

you mean eat lobster and sushi alt=giggle.gif>

http://bossip.com/838664/random-ridiculousness-man-uses-foodstamps-to-buy-lobster-and-sushi-has-no-plans-of-getting-a-job/

Sadly they can buy pretty much whatever they want and the programs are getting more liberal in the U.S. during the Obama administration, if the U.S. remains on this trajectory then pretty soon it will resemble many of the European socialist states

[northernjohn]

Foreigners, not so familiar with Thailand, thinks that this country is just Bangkok, Hua Hin, Pattaya, Chiang Mai and Phuket....and LIFE IN THAILAND is just to be in "vacation" every day and night, and not to become active member ot its community and culture. After 4 years living here, I am thinking in write a book about RETIREMENT IN THAILAND WITH A TOTAL EXPENSE OF $500/MONTH..

I'll be very interested in the chapters on how to handle the financial requirements for a retirement visa -- you know that bit about having to demonstrate an income of 65,000 baht/month or 800,000 baht in a Thai bank or a combo

and then that other chapter about how to handle medical expenses since there's no free medical care for foreigners

and also the chapter about how to maintain the discipline to have enough funds set aside to return to your home country should things go wrong.

Heck -- there's three chapters right there!

I'll let you handle the rest.

Why couldn't the person have a savings account of 800,000 THB in addition to the amount they live on?

The person could have another account with a substantial amount in case of emergency.

To purchase a plane ticket out of Thailand either one of the bank accounts should take care of that.

Just because someone would decide to "live" on $500 per month does not mean they do not have an abundance of money, not necessarily from a trust account. Many posters on ThaiVisa have posted that they have been successful and were able to "retire" at a very early age.

You are 100% correct. But in reality it is hypothetical. Who would choose to live the rest of their life on $500 a month when they had more. Up to a year and then I can see them tiring of it and moving on.

[JulieM]

I know a few people who live on $500 a months and have done so for years. They are single, don't smoke and hardly ever drink.. All their "dates" come from Thapae Gate and they are in good health.

NorthernJohn, this post by Ulysses G. says it all.

[hmficc]

Join us. We are the wanted, unwanted, well off ,poverty stricken, sexpats, family creators, Thailand lovers, and Thailand fault finders. There is always room for one more. It is a wonderful place to live!

[fey]

i saw an older foreigner walking along the sidewalk today.

had a strange downward glance and shuffling along. i kind of looked back at him and said to myself 'is that me in 20 years?
when i caught up to him i saw he was checking both public phone coin slots for loose change as i walked by.

kind of felt sorry for the old geezer. did he really need baht change. that's too bad. probably a long and interesting story behind that one.

[jobin]

did someone mention teat?

the protuberance on the breast or udder in female mammals, except the monotremes,through which the milk ducts discharge; nipple or mammilla.

teet won't fly but tweet will

[FritsSikkink]

Here is an interesting article that states one can live here on $500 a month.... I suppose you could, but would you?

In the following top choices for retirement overseas you could rent a comfortable, convenient and pleasant place to live for $500 per month or less:

http://au.finance.yahoo.com/news/moving-overseas-cuts-retirement-costs-154455609.html

doesn't state that at all

[TheSiemReaper]

I find the optimal figure for a great life here to be around $5,000 a month. Any less and you have to stop drinking champagne everyday.

[NancyL]

Oh please, let's not start up this thread again.

If you actually read the article, you'll see they're talking about how you can rent housing here for less than $500 per month -- that's nearly 18,000 baht. And they go onto to say that one strategy retirees use in places like Chiang Mai to keep their cost of living down is not to own a car, but to live within walking distance of many destinations and to use public transportation. I plead guilty to both charges. Our condo rent is below 18,000 baht per month and we don't own a car, but Hubby isn't shuffling around Chiang Mai looking for coins in the pay phone booths -- at least I don't think he is.

[true blue]

good post just what chiang mai needs,another plane load or two,of cheap Charlie yanks with small money coming for the high life in chiang mai.as if

[bangmai]

wht's amusing and typical is that an expat couple on 1200 usd per month, could be considered pillars of the Expat community, but a single guy on 500 is an utter disgrace....100 usd per month difference? That could be one prescription, or 2 trips to Duke's per month....I suspect part of the Feminazi war against single males, who have left the pig pens of the West, and found slim/smart LBFMs, while greatly reducing their tax liabilities in their home countries.

[amexpat]

Turn off Fox, take your meds, get some rest.

[FritsSikkink]

wht's amusing and typical is that an expat couple on 1200 usd per month, could be considered pillars of the Expat community, but a single guy on 500 is an utter disgrace....100 usd per month difference? That could be one prescription, or 2 trips to Duke's per month....I suspect part of the Feminazi war against single males, who have left the pig pens of the West, and found slim/smart LBFMs, while greatly reducing their tax liabilities in their home countries.

the couple share costs like house, electrics, motorbike. so the difference is a lot more then 100 usd.

[Mousehound]

Live in a tent and eat roadkill. You could live on 1000Bht a week easily. Of course you can do that in most countries.

[bangmai]

wht's amusing and typical is that an expat couple on 1200 usd per month, could be considered pillars of the Expat community, but a single guy on 500 is an utter disgrace....100 usd per month difference? That could be one prescription, or 2 trips to Duke's per month....I suspect part of the Feminazi war against single males, who have left the pig pens of the West, and found slim/smart LBFMs, while greatly reducing their tax liabilities in their home countries.

the couple share costs like house, electrics, motorbike. so the difference is a lot more then 100 usd.

the economies of scale are actually limited. Eating street food,,,no savings.......songtaews,,no savings....nominal savings on housing, as a couple on a budget will need more space for the same level of comfort...a single person could house share, and that would even be less than half of a good size apartment.

[Rob13]

No alcohol, eating local food from the market,living in a one-room apt,can be done on a $500 budget fairly easily. Entertainment, visa costs,vices etc. would have to added in separately though.

Edited February 14, 2016 by Rob13

[bangmai]

2 beer promos per week and 1/12 of 1900 per year for visa....less than 50 usd per month....

[fey]

As I wrote probably most 35ish guys may not had the foresight to save enough money but there are many foreigners in there 40s to 60's that probably saved a decent nest-egg that they are living on through investment and additional Thai income.

Besides if you asked anyone if they have $???,000 saved, unless they are naive and answer you truthfully, you probably might get a flippant reply or "it's none of your business"

you can nip these guys in the bud with a simple phrase "no worries" when asked about income, investments stuff like that.

works for me so far, and is much easier then making stuff up or getting defensive. the phrase does not convey any ill will and i have discovered people tend to get the picture rather quickly without further explanation.

[Trujillo]

These are all places where you could live a full and fun life without owning a car.

Who would want to spend significant time here (retirement) without a vehicle? I am sure the author used the word "car" to mean personal transport, including motorbikes.

If you don't have wheels, then you're a plant.

[mascarabertha]

These are all places where you could live a full and fun life without owning a car.

Who would want to spend significant time here (retirement) without a vehicle? I am sure the author used the word "car" to mean personal transport, including motorbikes.

If you don't have wheels, then you're a plant.

what a silly thing to say "using the word car to mean motorcycles". that's like saying shoes also includes skis or swimming flippers.

[1happykamper]

Here is an interesting article that states one can live here on $500 a month.... I suppose you could, but would you?

In the following top choices for retirement overseas you could rent a comfortable, convenient and pleasant place to live for $500 per month or less:

http://au.finance.yahoo.com/news/moving-overseas-cuts-retirement-costs-154455609.html

If you lived in a really cheap room with no aircon and only ate in the 20 baht vegetarian restaurants all over town, you could do it, but it would not be fun.

perhaps you could mark all these 20 baht veg restaurants on a map because i have never seen any of them. rest is BS too.

One veggie place is about 150 meters West from Chiang Mai Gate... Yes.. 20 baht.. No rice. But 30 baht Street food is quite easy to find anyway! Edited February 14, 2016 by 1happykamper

[bangmai]

These are all places where you could live a full and fun life without owning a car.

Who would want to spend significant time here (retirement) without a vehicle? I am sure the author used the word "car" to mean personal transport, including motorbikes.

If you don't have wheels, then you're a plant.

Actually, it is the motorbike riders who are a lot more likely to become plants (or vegetables). The expense/risk/liability of a car simply aren't worth it. There are too many alternatives, and too many beer promos to attend. So much diabetes here among farang.....Spending 15000 per month on a car, so you can spend 7000 per month in rent with a pack of dogs in San Sai just doesn't come across as financially sound to me.

[NancyL]

Yup, spend an extra 10,000 baht/month to rent a nice house or condo in town vs. living out in the sticks and you can walk to almost every place you want, take a tuk-tuk or songthaew to the others and if you want to go someplace out of town, you can always rent a van and driver for about 1500 baht/day and travel in comfort. I never could understand why someone would want the hassle of living in the 'burbs away from the action and having the expense and bother of maintaining a car. Besides, with the driving skill of both the Thai people and me, I'd live in fear of killing someone.

Most days, I can walk to Maya Mall from my condo faster than taking a tuk-tuk because of the traffic snarl on Huey Kaew. Why anyone would drive there is a mystery.

[moe666]

ecause th

In a recent article, Kathleen Peddicord stated that expats of all ages living in Ecuador could now get full medical coverage under the country's government health plan (social security) for only $70 per month. Pre-existing conditions are covered too. Let's hope Thailand can do the same in the near future so elderly expats living in Thailand can get the care they deserve.

The OP may want to investigate Ecuador if insurance costs and/or pre-existing conditions are a concern for him.

Please tellme why someone deserves healthcare because they are elderly. Even Thais do not get health care in their own country and that is with the 30 baht system.

[flyDelight]

I knew a Dutch guy he lived quite a while on 50b/day in a simple bungalow in the woods.