Retired with 1500usd month - recommended max. condo rent?

[slightlychilled]

I thought the minimum monthly money for retirement extension, age 50+, was about US$2000, or 65000 baht. Failing that, 800K baht in the bank.

True that USA Consulate does not vet USA citizens who claim enough income and do give affidavit to satisfy Thai govt but i have found that US$1500 is cutting life pretty thin here.

Good luck. I'm in a very decent, quiet, safe, clean room with all amenities needed for 4K baht/mo, + utilities at 500 b/month, in CM.

Yes, that's about right: http://www.thaiembassy.com/retire/retire.php

Slightly off-topic, but I'm amazed; flabbergasted even at how many contributors on this forum are living on a shoestring.

I like my creature comforts, so I'm happy with a few weeks vacation two or three times a year. I couldn't live hand to mouth like some of you seem to be doing.

I'm flabbergasted that so many have reached this stage in their lives with apparently no roots, no one to share their life with.

I've also never understood why so many US head to Thailand when quality / standard of life / bang for the buck seems such better value in places like Florida.

[Mcffee]

Just marry a Thai...all your problems will disappear.

Ain't this a contradictio in terminis?

[gk10002000]

How do you plan to qualify for retirement on 1500 usd a month? You need to either put 800,000 Thai baht on deposit in Thailand, or you need to certify to the US embassy in Thailand that you have 65,000 Thai baht a month income which is a little over $2000 thai baht a month at the current exchange rate.

In addition, does your 1500 USD/Month include your home country (USA?) taxes or is that your Net income you will have?

[Jingthing]

How do you plan to qualify for retirement on 1500 usd a month? You need to either put 800,000 Thai baht on deposit in Thailand, or you need to certify to the US embassy in Thailand that you have 65,000 Thai baht a month income which is a little over $2000 thai baht a month at the current exchange rate.

In addition, does your 1500 USD/Month include your home country (USA?) taxes or is that your Net income you will have?

There is the combo method option for retirement extensions.

For example you can show an income of 500K plus a Thai bank account of 300K which adds up to 800K and that will qualify you.

You present this as only being an option of showing income or showing a bank account, but that is false information.

[PHP87]

Gee, are you upset? Unforseen cricumstances, like what: loss of job, illness, poor financial decisions, recessions? Had them all. However, I kept at it. I worked overseas most of my life, got paid well, and invested. So many simply work for the paycheck and spend everthing they make on a false lifestyle up to their ears in debt. I'll wager that describes the majority of you who live here on the cheap.

I have several friends who worked with me on several contracts and made the same kind of money, most are living on a pittance, two here in Thailand, four more in the PI--all made foolish decisions about spending, saving and investing. I see the same poor habits in several offshore workers here today, many are broke when they have to go back offshore. I have one good friend who has worked over 35 years offshore, and like me, as a contractor. He is worried he will be laid off and doesn't have any retirement plan or job possiblilties--he doesn't have $30k stashed away--that's less than $75/mo saved for his retirement. How long do you think that will last? Oh, I guess he must have some state old age pension, but what, $1000-1500/mo, probably less?

I owned my first house at 25. Had four duplexes and a 107 acre farm by the time I was 34. Still own several rental properties and my farm, and I didn't waste my money on a worthless woman or buying something I cannot own. But you're right, none of my houses were mansions. I also owned lots of vehicles, but not a Bentley among them. However, I did manage few Corvettes, Harleys, and speedboats--and I bought all of them when I had the money to do so and a job in hand.

As a farang, you had opportunities too. I am sure the thought of having enough for retirement crossed your mind, at least it should have. So, don't blame your poor decisions on me.

Now, just so we are on the same page, I said, "I can't remember when I have heard so many cheap charlie tales. I wish all of you luck, and hope you keep thinking you are enjoying yourselves. I could not live that way and wouldn't 't want to." Somehow, you construe that to be a snob, or pompous jerk. You are the one calling names, and you even took exception to the word "gumption"---which means, among other words, shrewdness and practicality.

Sounds like you spent your entire life being a "Cheap Charlie" and are now looking down your nose at people that weren't as "smart" as you think you are.

And by talking about all of the things you've owned in your life not only makes you a pompous jerk, but one that sounds insecure and braggadocios.

And I bet you lived in some less than desirable place in the US where the cost of living was dirt cheap.

Congratulations on making it big in Nowhere, USA

And no, I'm not upset at all. I've lived my entire life in one of the most beautiful places in the world and have met people from all over the planet that have come here on vacation as well and have lived a rich and a full life - a life based on experiences and not on material possessions.

I will retire at age 57 on a modest pension and will add to that when I collect SS at age 62, and I'll be quite happy living in a 56 sq. m "shoebox" in the LOS

Unlike some, I base my self-worth and my happiness on my life experiences along with the people I have known and not on material possessions. And yes, I've owned several Corvette's myself along with a few BMW's, but I don't feel the need to post a list of the things I've owned in my life in an attempt to impress people or out of insecurity, or both.

Like I said, you must be a big hit at parties./s

[Pheat123]

I can't remember when I have heard so many cheap charlie tales. I wish all of you luck, and hope you keep thinking you are enjoying yourselves. I could not live that way and wouldn't 't want to.

Not everyone has 5000USD per month to retire on; It never ceases to amaze me when all the snobs show up on these threads saying they couldn't live on 1,500 USD per month in Thailand, etc...

It's not about being a "Cheap Charlie" it's about finances and not everyone will have several thousand a month to retire on.

Myself, I can live fine on 1,800 USD in CM since I don't drink or partake in bar girls.

Is that what these guys are spending their money on - booze and broads?

Snob, or simply better prepared? I started with nothing, but I started working at 11 years of age. I saved all my life, was never broke on payday, because I didn't spend it all--I lived on less than I made. I worked my way through school, so I could get better paying jobs, and invested. I worked hard to get even better positions, and invested even more. I did nothing any of you could not have done, if you had the gumption.

And unforeseen circumstances occur in life as well.

Tell me, where did you live most of your life? I bet somewhere inexpensive.

Saying "if you had the gumption" is not only insulting, it's also ignorant.

Perhaps "pompous jerk" would've been a more apt description than "snob"

You must be a big hit at parties...

Gee, are you upset? Unforseen cricumstances, like what: loss of job, illness, poor financial decisions, recessions? Had them all. However, I kept at it. I worked overseas most of my life, got paid well, and invested. So many simply work for the paycheck and spend everthing they make on a false lifestyle up to their ears in debt. I'll wager that describes the majority of you who live here on the cheap.

I have several friends who worked with me on several contracts and made the same kind of money, most are living on a pittance, two here in Thailand, four more in the PI--all made foolish decisions about spending, saving and investing. I see the same poor habits in several offshore workers here today, many are broke when they have to go back offshore. I have one good friend who has worked over 35 years offshore, and like me, as a contractor. He is worried he will be laid off and doesn't have any retirement plan or job possiblilties--he doesn't have $30k stashed away--that's less than $75/mo saved for his retirement. How long do you think that will last? Oh, I guess he must have some state old age pension, but what, $1000-1500/mo, probably less?

I owned my first house at 25. Had four duplexes and a 107 acre farm by the time I was 34. Still own several rental properties and my farm, and I didn't waste my money on a worthless woman or buying something I cannot own. But you're right, none of my houses were mansions. I also owned lots of vehicles, but not a Bentley among them. However, I did manage few Corvettes, Harleys, and speedboats--and I bought all of them when I had the money to do so and a job in hand.

As a farang, you had opportunities too. I am sure the thought of having enough for retirement crossed your mind, at least it should have. So, don't blame your poor decisions on me.

Now, just so we are on the same page, I said, "I can't remember when I have heard so many cheap charlie tales. I wish all of you luck, and hope you keep thinking you are enjoying yourselves. I could not live that way and wouldn't 't want to." Somehow, you construe that to be a snob, or pompous jerk. You are the one calling names, and you even took exception to the word "gumption"---which means, among other words, shrewdness and practicality.

Wow

Lucky old you

[Rooo]

This topic is about retiring in Thailand, not the cost of living & virtues of the Philippines. Deleted off topic posts.

[PHP87]

As mentioned, $1,500 a month is doable depending on where you choose to live in Thailand.

Obviously, it would be tough in Bangkok, but more doable in Chang Rai or Phayao in the North, for example.

I would also suggest having a nest egg of 6 figures USD for medical and other emergencies and for an exit plan in case things go South.

Bottom line is to use the many resources that the internet offers and keep in mind the cost of a Retirement Visa which you can combine your monthly/yearly income + Savings to meet the 800k Baht requirement. You must also be 50 years of age or older to qualify as well and not have any felonies/criminal background.

Figure out your monthly expenses the best that you can, then add 25% to that figure. Don't forget the "Farang tax" either.

One thing that is free or almost free is to learn to speak and understand Thai - that will save you a lot of money and problems.

Good luck.

[StefanBBK]

1500 USD is currently about 48000THB. You should be able to find a nice apartment for about 10000. That leaves you 38K to live on. It ill not be utterly luxurious but should do better than in US. Just be careful wit Western foods, these can get expensive quickly. Suggest you use this as a benchmark.

For the annual visa, perhaps best to use a service that does the legwork for you at about 20k. If you put a little in the cookie jar every month, then you should have no problem towards the end of the year.

[onemorechang]

If you can buy a small condo, do it, rent is money lost forever.

after 15 years the condo owes you nothing.

just pick the right place.

[Langsuan Man]

I thought the minimum monthly money for retirement extension, age 50+, was about US$2000, or 65000 baht. Failing that, 800K baht in the bank.

True that USA Consulate does not vet USA citizens who claim enough income and do give affidavit to satisfy Thai govt but i have found that US$1500 is cutting life pretty thin here.

Good luck. I'm in a very decent, quiet, safe, clean room with all amenities needed for 4K baht/mo, + utilities at 500 b/month, in CM.

Yes, that's about right: http://www.thaiembassy.com/retire/retire.php

Slightly off-topic, but I'm amazed; flabbergasted even at how many contributors on this forum are living on a shoestring.

I like my creature comforts, so I'm happy with a few weeks vacation two or three times a year. I couldn't live hand to mouth like some of you seem to be doing.

I'm flabbergasted that so many have reached this stage in their lives with apparently no roots, no one to share their life with.

I've also never understood why so many US head to Thailand when quality / standard of life / bang for the buck seems such better value in places like Florida.

Do you really think that you could have much of a life in Florida on 1,500usd a month !

[smotherb]

Gee, are you upset? Unforseen cricumstances, like what: loss of job, illness, poor financial decisions, recessions? Had them all. However, I kept at it. I worked overseas most of my life, got paid well, and invested. So many simply work for the paycheck and spend everthing they make on a false lifestyle up to their ears in debt. I'll wager that describes the majority of you who live here on the cheap.

I have several friends who worked with me on several contracts and made the same kind of money, most are living on a pittance, two here in Thailand, four more in the PI--all made foolish decisions about spending, saving and investing. I see the same poor habits in several offshore workers here today, many are broke when they have to go back offshore. I have one good friend who has worked over 35 years offshore, and like me, as a contractor. He is worried he will be laid off and doesn't have any retirement plan or job possiblilties--he doesn't have $30k stashed away--that's less than $75/mo saved for his retirement. How long do you think that will last? Oh, I guess he must have some state old age pension, but what, $1000-1500/mo, probably less?

I owned my first house at 25. Had four duplexes and a 107 acre farm by the time I was 34. Still own several rental properties and my farm, and I didn't waste my money on a worthless woman or buying something I cannot own. But you're right, none of my houses were mansions. I also owned lots of vehicles, but not a Bentley among them. However, I did manage few Corvettes, Harleys, and speedboats--and I bought all of them when I had the money to do so and a job in hand.

As a farang, you had opportunities too. I am sure the thought of having enough for retirement crossed your mind, at least it should have. So, don't blame your poor decisions on me.

Now, just so we are on the same page, I said, "I can't remember when I have heard so many cheap charlie tales. I wish all of you luck, and hope you keep thinking you are enjoying yourselves. I could not live that way and wouldn't 't want to." Somehow, you construe that to be a snob, or pompous jerk. You are the one calling names, and you even took exception to the word "gumption"---which means, among other words, shrewdness and practicality.

Sounds like you spent your entire life being a "Cheap Charlie" and are now looking down your nose at people that weren't as "smart" as you think you are.

And by talking about all of the things you've owned in your life not only makes you a pompous jerk, but one that sounds insecure and braggadocios.

And I bet you lived in some less than desirable place in the US where the cost of living was dirt cheap.

Congratulations on making it big in Nowhere, USA

And no, I'm not upset at all. I've lived my entire life in one of the most beautiful places in the world and have met people from all over the planet that have come here on vacation as well and have lived a rich and a full life - a life based on experiences and not on material possessions.

I will retire at age 57 on a modest pension and will add to that when I collect SS at age 62, and I'll be quite happy living in a 56 sq. m "shoebox" in the LOS

Unlike some, I base my self-worth and my happiness on my life experiences along with the people I have known and not on material possessions. And yes, I've owned several Corvette's myself along with a few BMW's, but I don't feel the need to post a list of the things I've owned in my life in an attempt to impress people or out of insecurity, or both.

Like I said, you must be a big hit at parties./s

Not sure how you came to the conclusion I lived on the cheap. I have always lived well. As I said, I went to school, worked hard, and got good jobs, white collar family-accompanied jobs. In my early years overseas, the companies provided cola bonuses, housing, transportation, home leave airfare, and perdiem; later as I held more responsible positions, I had personal services contrcts which paid me the benefits in cash--and yes, I saved from that too, but lived well. As I said, I lived within my means and saved from that.

I mentioned what I owned in response to comments like yours that said I had nothing and lived on the cheap--as I said, they weren't mansions or Bentleys. The properties are investments, they have made more money. The fact that so many others did not invest, spent all their income, and stayed in the same dead-end jobs all their life only points to their poor planning.

As for where I lived, I said I worked overseas for most of my life, when I went back to the States, I went back to where I got the good contacts, Washington, D.C. That's where my first home and most of my rental property was. I don't believe you could say the cost of living there is cheap.

I believe I have had significant experiences after 42 years living and working all over the globe in three careers--software engineer, management consultant and college professor-- but I also knew I had to have the financial wherewithall to exist when the work stopped.

As far as parties go, well, I will have to leave that to your imagination. You've been wrong about everything else, why stop you now?

[balo]

If you can buy a small condo, do it, rent is money lost forever.

after 15 years the condo owes you nothing.

just pick the right place.

Buying a condo is the worst thing you can do in Thailand, First of all the rent is so cheap here that if you pay 10k in rent for a condo it means120k in a year and most people on any pension or income can afford that. Secondly when you buy you can't just move when things gets really bad, the noisy neighbor next door makes life a living hell , the karaoke music across the soi is so bad you have to sleep during daytime or escape to a hotel etc . I speak of experience.

[BKKSnowBird]

Never understood people buying in Thailand. Too much trouble. I could only see it if married to a Thai and want to leave it to her when you die.

[Langsuan Man]

Never understood people buying in Thailand. Too much trouble. I could only see it if married to a Thai and want to leave it to her when you die.

Maybe you can understand it when you get tax free income from the condo that you can now rent out to others that don't understand buying in Thailand. In the low interest environment that is the current norm , having a baht denominated investment gives you a stable ROI

[Jingthing]

With buying you don't know how wise it was until much later. There are winners and losers. A lot depends on how long you end of living in Thailand. Hard to predict of course. In my case, I bought long ago and feel it that overall it has been very financially beneficial.

[Mcffee]

As mentioned, $1,500 a month is doable depending on where you choose to live in Thailand.

Obviously, it would be tough in Bangkok, but more doable in Chang Rai or Phayao in the North, for example.

I would also suggest having a nest egg of 6 figures USD for medical and other emergencies and for an exit plan in case things go South.

Bottom line is to use the many resources that the internet offers and keep in mind the cost of a Retirement Visa which you can combine your monthly/yearly income + Savings to meet the 800k Baht requirement. You must also be 50 years of age or older to qualify as well and not have any felonies/criminal background.

Figure out your monthly expenses the best that you can, then add 25% to that figure. Don't forget the "Farang tax" either.

One thing that is free or almost free is to learn to speak and understand Thai - that will save you a lot of money and problems.

Good luck.

Thanks. Although I really prefer a sea view I decided to start in ChiangMai (again) buying a cheap condo, start a small but smart food business on my gf's name, with the goal to make netto 5000b/day that's not so hard. Maybe go for a very basic marriage without the traditional kitsch I hate that anyway and my gf does not care about it too much either. I speak fluently basic Thai and lived there 25% of my life already just having a lower budget and different situation now so need to be smarter now.

[fey]

As mentioned, $1,500 a month is doable depending on where you choose to live in Thailand.

Obviously, it would be tough in Bangkok, but more doable in Chang Rai or Phayao in the North, for example.

I would also suggest having a nest egg of 6 figures USD for medical and other emergencies and for an exit plan in case things go South.

Bottom line is to use the many resources that the internet offers and keep in mind the cost of a Retirement Visa which you can combine your monthly/yearly income + Savings to meet the 800k Baht requirement. You must also be 50 years of age or older to qualify as well and not have any felonies/criminal background.

Figure out your monthly expenses the best that you can, then add 25% to that figure. Don't forget the "Farang tax" either.

One thing that is free or almost free is to learn to speak and understand Thai - that will save you a lot of money and problems.

Good luck.

Thanks. Although I really prefer a sea view I decided to start in ChiangMai (again) buying a cheap condo, start a small but smart food business on my gf's name, with the goal to make netto 5000b/day that's not so hard. Maybe go for a very basic marriage without the traditional kitsch I hate that anyway and my gf does not care about it too much either. I speak fluently basic Thai and lived there 25% of my life already just having a lower budget and different situation now so need to be smarter now.

you would be very lucky to net 5000 baht a day on a food business just starting out. thats about $55k a year profit.

[PHP87]

Gee, are you upset? Unforseen cricumstances, like what: loss of job, illness, poor financial decisions, recessions? Had them all. However, I kept at it. I worked overseas most of my life, got paid well, and invested. So many simply work for the paycheck and spend everthing they make on a false lifestyle up to their ears in debt. I'll wager that describes the majority of you who live here on the cheap.

I have several friends who worked with me on several contracts and made the same kind of money, most are living on a pittance, two here in Thailand, four more in the PI--all made foolish decisions about spending, saving and investing. I see the same poor habits in several offshore workers here today, many are broke when they have to go back offshore. I have one good friend who has worked over 35 years offshore, and like me, as a contractor. He is worried he will be laid off and doesn't have any retirement plan or job possiblilties--he doesn't have $30k stashed away--that's less than $75/mo saved for his retirement. How long do you think that will last? Oh, I guess he must have some state old age pension, but what, $1000-1500/mo, probably less?

I owned my first house at 25. Had four duplexes and a 107 acre farm by the time I was 34. Still own several rental properties and my farm, and I didn't waste my money on a worthless woman or buying something I cannot own. But you're right, none of my houses were mansions. I also owned lots of vehicles, but not a Bentley among them. However, I did manage few Corvettes, Harleys, and speedboats--and I bought all of them when I had the money to do so and a job in hand.

As a farang, you had opportunities too. I am sure the thought of having enough for retirement crossed your mind, at least it should have. So, don't blame your poor decisions on me.

Now, just so we are on the same page, I said, "I can't remember when I have heard so many cheap charlie tales. I wish all of you luck, and hope you keep thinking you are enjoying yourselves. I could not live that way and wouldn't 't want to." Somehow, you construe that to be a snob, or pompous jerk. You are the one calling names, and you even took exception to the word "gumption"---which means, among other words, shrewdness and practicality.

Sounds like you spent your entire life being a "Cheap Charlie" and are now looking down your nose at people that weren't as "smart" as you think you are.

And by talking about all of the things you've owned in your life not only makes you a pompous jerk, but one that sounds insecure and braggadocios.

And I bet you lived in some less than desirable place in the US where the cost of living was dirt cheap.

Congratulations on making it big in Nowhere, USA

And no, I'm not upset at all. I've lived my entire life in one of the most beautiful places in the world and have met people from all over the planet that have come here on vacation as well and have lived a rich and a full life - a life based on experiences and not on material possessions.

I will retire at age 57 on a modest pension and will add to that when I collect SS at age 62, and I'll be quite happy living in a 56 sq. m "shoebox" in the LOS

Unlike some, I base my self-worth and my happiness on my life experiences along with the people I have known and not on material possessions. And yes, I've owned several Corvette's myself along with a few BMW's, but I don't feel the need to post a list of the things I've owned in my life in an attempt to impress people or out of insecurity, or both.

Like I said, you must be a big hit at parties./s

Not sure how you came to the conclusion I lived on the cheap. I have always lived well. As I said, I went to school, worked hard, and got good jobs, white collar family-accompanied jobs. In my early years overseas, the companies provided cola bonuses, housing, transportation, home leave airfare, and perdiem; later as I held more responsible positions, I had personal services contrcts which paid me the benefits in cash--and yes, I saved from that too, but lived well. As I said, I lived within my means and saved from that.

I mentioned what I owned in response to comments like yours that said I had nothing and lived on the cheap--as I said, they weren't mansions or Bentleys. The properties are investments, they have made more money. The fact that so many others did not invest, spent all their income, and stayed in the same dead-end jobs all their life only points to their poor planning.

As for where I lived, I said I worked overseas for most of my life, when I went back to the States, I went back to where I got the good contacts, Washington, D.C. That's where my first home and most of my rental property was. I don't believe you could say the cost of living there is cheap.

I believe I have had significant experiences after 42 years living and working all over the globe in three careers--software engineer, management consultant and college professor-- but I also knew I had to have the financial wherewithall to exist when the work stopped.

As far as parties go, well, I will have to leave that to your imagination. You've been wrong about everything else, why stop you now?

"I, I, I...." Are you Obama's speech writer?

Edited February 22, 2015 by PHP87

[Mcffee]

you would be very lucky to net 5000 baht a day on a food business just starting out. thats about $55k a year profit.

With my first bar business in CM I had net 5k - 8k a day, I know a Thai noodle stall they make up to 5k a night. It's within reach with a good idea and a good gf/wife. Thais love to eat that's all they think of all day!

[Loptr]

Age & Insurance. I was 64 when I bought my CBR 250 and had no problem with 1st Class insurance. If I remember right, I paid a little more, but nothing outrageous.

What is your insurance? You say first class but it is not possible to buy one for your motorcycle only for cars. It would be interesting to know what kind of insurance you have and in what company.

Yes, you can purchase 1st class insurance for motorcycles...

[smotherb]

Gee, are you upset? Unforseen cricumstances, like what: loss of job, illness, poor financial decisions, recessions? Had them all. However, I kept at it. I worked overseas most of my life, got paid well, and invested. So many simply work for the paycheck and spend everthing they make on a false lifestyle up to their ears in debt. I'll wager that describes the majority of you who live here on the cheap.

I have several friends who worked with me on several contracts and made the same kind of money, most are living on a pittance, two here in Thailand, four more in the PI--all made foolish decisions about spending, saving and investing. I see the same poor habits in several offshore workers here today, many are broke when they have to go back offshore. I have one good friend who has worked over 35 years offshore, and like me, as a contractor. He is worried he will be laid off and doesn't have any retirement plan or job possiblilties--he doesn't have $30k stashed away--that's less than $75/mo saved for his retirement. How long do you think that will last? Oh, I guess he must have some state old age pension, but what, $1000-1500/mo, probably less?

I owned my first house at 25. Had four duplexes and a 107 acre farm by the time I was 34. Still own several rental properties and my farm, and I didn't waste my money on a worthless woman or buying something I cannot own. But you're right, none of my houses were mansions. I also owned lots of vehicles, but not a Bentley among them. However, I did manage few Corvettes, Harleys, and speedboats--and I bought all of them when I had the money to do so and a job in hand.

As a farang, you had opportunities too. I am sure the thought of having enough for retirement crossed your mind, at least it should have. So, don't blame your poor decisions on me.

Now, just so we are on the same page, I said, "I can't remember when I have heard so many cheap charlie tales. I wish all of you luck, and hope you keep thinking you are enjoying yourselves. I could not live that way and wouldn't 't want to." Somehow, you construe that to be a snob, or pompous jerk. You are the one calling names, and you even took exception to the word "gumption"---which means, among other words, shrewdness and practicality.

Sounds like you spent your entire life being a "Cheap Charlie" and are now looking down your nose at people that weren't as "smart" as you think you are.

And by talking about all of the things you've owned in your life not only makes you a pompous jerk, but one that sounds insecure and braggadocios.

And I bet you lived in some less than desirable place in the US where the cost of living was dirt cheap.

Congratulations on making it big in Nowhere, USA

And no, I'm not upset at all. I've lived my entire life in one of the most beautiful places in the world and have met people from all over the planet that have come here on vacation as well and have lived a rich and a full life - a life based on experiences and not on material possessions.

I will retire at age 57 on a modest pension and will add to that when I collect SS at age 62, and I'll be quite happy living in a 56 sq. m "shoebox" in the LOS

Unlike some, I base my self-worth and my happiness on my life experiences along with the people I have known and not on material possessions. And yes, I've owned several Corvette's myself along with a few BMW's, but I don't feel the need to post a list of the things I've owned in my life in an attempt to impress people or out of insecurity, or both.

Like I said, you must be a big hit at parties./s

Not sure how you came to the conclusion I lived on the cheap. I have always lived well. As I said, I went to school, worked hard, and got good jobs, white collar family-accompanied jobs. In my early years overseas, the companies provided cola bonuses, housing, transportation, home leave airfare, and perdiem; later as I held more responsible positions, I had personal services contrcts which paid me the benefits in cash--and yes, I saved from that too, but lived well. As I said, I lived within my means and saved from that.

I mentioned what I owned in response to comments like yours that said I had nothing and lived on the cheap--as I said, they weren't mansions or Bentleys. The properties are investments, they have made more money. The fact that so many others did not invest, spent all their income, and stayed in the same dead-end jobs all their life only points to their poor planning.

As for where I lived, I said I worked overseas for most of my life, when I went back to the States, I went back to where I got the good contacts, Washington, D.C. That's where my first home and most of my rental property was. I don't believe you could say the cost of living there is cheap.

I believe I have had significant experiences after 42 years living and working all over the globe in three careers--software engineer, management consultant and college professor-- but I also knew I had to have the financial wherewithall to exist when the work stopped.

As far as parties go, well, I will have to leave that to your imagination. You've been wrong about everything else, why stop you now?

"I, I, I...." Are you Obama's speech writer?

Such a clever retort. I was writing about things I did. I surely wouldn't want you to think it was about you.

[2fishin2]

I thought the minimum monthly money for retirement extension, age 50+, was about US$2000, or 65000 baht. Failing that, 800K baht in the bank.

True that USA Consulate does not vet USA citizens who claim enough income and do give affidavit to satisfy Thai govt but i have found that US$1500 is cutting life pretty thin here.

Good luck. I'm in a very decent, quiet, safe, clean room with all amenities needed for 4K baht/mo, + utilities at 500 b/month, in CM.

Yes, that's about right: http://www.thaiembassy.com/retire/retire.php

Slightly off-topic, but I'm amazed; flabbergasted even at how many contributors on this forum are living on a shoestring.

I like my creature comforts, so I'm happy with a few weeks vacation two or three times a year. I couldn't live hand to mouth like some of you seem to be doing.

I'm flabbergasted that so many have reached this stage in their lives with apparently no roots, no one to share their life with.

I've also never understood why so many US head to Thailand when quality / standard of life / bang for the buck seems such better value in places like Florida.

Do you really think that you could have much of a life in Florida on 1,500usd a month !

Sure if you own everything outright!

[smotherb]

Langsuan Man said, "Do you really think that you could have much of a life in Florida on 1,500usd a month !"

2fishin2 said, "Sure if you own everything outright!"

Well, I own my own home in Florida and I paid over $1,500/mo in taxes, insurance, utilities, and lawn care plus repairs when I lived in it.

In Thailand, I have a 4bdr/3bth 3 story row house in the city for which I pay $250/mo in rent and another $200/mo in utilities. I also have a 2bdr/1bth beach cottage for which I pay $175/mo and $100 in utilities. That's a total of $725/mo for both places--no insurance, taxes, lawn care or repairs. Since I get rental money for the house in Florida, it is more than enough to cover the Florida insurance, taxes, management fees, and repairs; to cover my rent and utilities in Thailand, and to cover many other of the fine delicacies available in here.

Gee, if I had $1500/mo income, I wouldn't have even touched it yet.

[NeverSure]

Well, I own my own home in Florida and I paid over $1,500/mo in taxes, insurance, utilities, and lawn care plus repairs when I lived in it.

I'm not saying I don't believe you but for the record that's a heckuva lot more than I pay and I could get by with a lot less if I downsized more.

Also it isn't apples and apples. I've never seen a Thai house that compares to mine, right down to the central heat and aircon, Western kitchen and bathrooms, garage door opener and timed sprinkler system.

IF I lived Thai style I believe I could perhaps live cheaper in Thailand. But I don't want to live like that so I don't live cheaper when in Thailand.

As for the OP, if he's limited to $1500 and doesn't own a home and can figure out how to handle medical insurance, he can probably live cheaper in Thailand by renting and saving on utilities. But he won't be able to buy many consumer goods or much Western food or other things he's used to. He may be OK if he doesn't have an emergency, and if he does he'll wish he was in the US with Medicare or whatever safety net he needs.

[fey]

you would be very lucky to net 5000 baht a day on a food business just starting out. thats about $55k a year profit.

With my first bar business in CM I had net 5k - 8k a day, I know a Thai noodle stall they make up to 5k a night. It's within reach with a good idea and a good gf/wife. Thais love to eat that's all they think of all day!

really, i guess those street stallers are wealthier then i thought. they make more then many people in the usa!

i wonder why they cannot afford shoes...

[onemorechang]

If you can buy a small condo, do it, rent is money lost forever.

after 15 years the condo owes you nothing.

just pick the right place.

Buying a condo is the worst thing you can do in Thailand, First of all the rent is so cheap here that if you pay 10k in rent for a condo it means120k in a year and most people on any pension or income can afford that. Secondly when you buy you can't just move when things gets really bad, the noisy neighbor next door makes life a living hell , the karaoke music across the soi is so bad you have to sleep during daytime or escape to a hotel etc . I speak of experience.

Sorry you made a mistake. ( pick your place )

Got my place in 2000, yes its a bit more noisy now days.

So what, I could sell it tomorrow even in the bad times now for property.

and still get all my money back plus 50% more.

So yes it is the worst thing to have done.

[Pheat123]

As mentioned, $1,500 a month is doable depending on where you choose to live in Thailand.

Obviously, it would be tough in Bangkok, but more doable in Chang Rai or Phayao in the North, for example.

I would also suggest having a nest egg of 6 figures USD for medical and other emergencies and for an exit plan in case things go South.

Bottom line is to use the many resources that the internet offers and keep in mind the cost of a Retirement Visa which you can combine your monthly/yearly income + Savings to meet the 800k Baht requirement. You must also be 50 years of age or older to qualify as well and not have any felonies/criminal background.

Figure out your monthly expenses the best that you can, then add 25% to that figure. Don't forget the "Farang tax" either.

One thing that is free or almost free is to learn to speak and understand Thai - that will save you a lot of money and problems.

Good luck.

Thanks. Although I really prefer a sea view I decided to start in ChiangMai (again) buying a cheap condo, start a small but smart food business on my gf's name, with the goal to make netto 5000b/day that's not so hard. Maybe go for a very basic marriage without the traditional kitsch I hate that anyway and my gf does not care about it too much either. I speak fluently basic Thai and lived there 25% of my life already just having a lower budget and different situation now so need to be smarter now.

Are you for real?

Not to hard for a Thai i to make 5000 Baht clear profit a day from a start up food business

Dream on

[smotherb]

Well, I own my own home in Florida and I paid over $1,500/mo in taxes, insurance, utilities, and lawn care plus repairs when I lived in it.

I'm not saying I don't believe you but for the record that's a heckuva lot more than I pay and I could get by with a lot less if I downsized more.

Also it isn't apples and apples. I've never seen a Thai house that compares to mine, right down to the central heat and aircon, Western kitchen and bathrooms, garage door opener and timed sprinkler system.

IF I lived Thai style I believe I could perhaps live cheaper in Thailand. But I don't want to live like that so I don't live cheaper when in Thailand.

As for the OP, if he's limited to $1500 and doesn't own a home and can figure out how to handle medical insurance, he can probably live cheaper in Thailand by renting and saving on utilities. But he won't be able to buy many consumer goods or much Western food or other things he's used to. He may be OK if he doesn't have an emergency, and if he does he'll wish he was in the US with Medicare or whatever safety net he needs.

Yeah, you're right, I could live in a cheaper house. In fact, I have one paid for in the panhandle, 2bdr/2bth, but it would cost me almost $700/mo to live there. I know, you could live on $800/mo in Florida, but I can't. I don't want to. I prefer Southeast Asia. Perhaps that is the key.

[fey]

If you can buy a small condo, do it, rent is money lost forever.

after 15 years the condo owes you nothing.

just pick the right place.

Buying a condo is the worst thing you can do in Thailand, First of all the rent is so cheap here that if you pay 10k in rent for a condo it means120k in a year and most people on any pension or income can afford that. Secondly when you buy you can't just move when things gets really bad, the noisy neighbor next door makes life a living hell , the karaoke music across the soi is so bad you have to sleep during daytime or escape to a hotel etc . I speak of experience.

Sorry you made a mistake. ( pick your place )

Got my place in 2000, yes its a bit more noisy now days.

So what, I could sell it tomorrow even in the bad times now for property.

and still get all my money back plus 50% more.

So yes it is the worst thing to have done.

just remember a building construction could go up next door (effectively ruining your life) at any time.

without noise complaint rights or neighborly consideration.

so when you buy that condo get it with a couple acres around it.