Comfortable on 65k baht?

[akdraw]

Hello All,

I've researched and have a good idea but I'd love to hear any opinions on how comfortably I could live in Chaing Mai on 65k baht a month.

I'm 55, single, love Thai street food and I don't drink.

Thanks in advance.

[Lowriesuzanne]

You need health insurance or $3M baht in savings to cover emergencies. As long as you take zero risks (car v scooter) and can afford yearly checkups you are OK. Zero adventures on motor bike to Laos, etc. You also need to pay gym fees so you can work out. Eat in the basement of Promenada, Airport Plaza or another mall. Payap University Cafe has healthy food. Do not expect to eat on the street and escape illness.

[TheAppletons]

Yes, you can live comfortably on 65K baht per month in Chiang Mai.

[akdraw]

You need health insurance or $3M baht in savings to cover emergencies. As long as you take zero risks (car v scooter) and can afford yearly checkups you are OK. Zero adventures on motor bike to Laos, etc. You also need to pay gym fees so you can work out. Eat in the basement of Promenada, Airport Plaza or another mall. Payap University Cafe has healthy food. Do not expect to eat on the street and escape illness.

Thank you Lowriesuzanne,

I've never been to Chiang Mai but I have been to Bangkok a couple times, ten + years ago. I ate a lot of street food and the only time I got sick was after eating at a high quality restaurant named Burger king. I do know you're right and I need to be careful where and what i eat. Look forward to trying the places you mentioned. Thanks

[Jingthing]

You'll grow bored with eating street food all the time and learn about some of the gross shortcuts used to make it. What's in those fishballs and "broth"? You don't want to know.

[akdraw]

Yes, you can live comfortably on 65K baht per month in Chiang Mai.

Thank you TheAppletons,

I love to hear that. I've just about convinced myself to take the plunge. I'm hoping to be in Chiang Mai by the end of the year.

[TheAppletons]

Yes, you can live comfortably on 65K baht per month in Chiang Mai.

Thank you TheAppletons,

I love to hear that. I've just about convinced myself to take the plunge. I'm hoping to be in Chiang Mai by the end of the year.

Then do this: move here on a trial basis. You can get a lease at some/most condos for 6 months, sometimes less. That will give you an idea on whether you can adapt to the culture, live at this distance from home/friends/family, adjust to the quirks of Thai living, etc. Just don't burn any bridges on your way over and you'll have the option to return if you don't like it.

Good luck.

[akdraw]

You'll grow bored with eating street food all the time and learn about some of the gross shortcuts used to make it. What's in those fishballs and "broth"? You don't want to know.

lol,

Hey I eat potted meat fishballs and broth don't scare me.

Nice to see you're still here Jingthing. I use to read your postings ten years ago. Always informative, thanks.

[akdraw]

Yes, you can live comfortably on 65K baht per month in Chiang Mai.

Thank you TheAppletons,

I love to hear that. I've just about convinced myself to take the plunge. I'm hoping to be in Chiang Mai by the end of the year.

Then do this: move here on a trial basis. You can get a lease at some/most condos for 6 months, sometimes less. That will give you an idea on whether you can adapt to the culture, live at this distance from home/friends/family, adjust to the quirks of Thai living, etc. Just don't burn any bridges on your way over and you'll have the option to return if you don't like it.

Good luck.

Thank you. I know that good advice. I appreciate that.

[jobin]

OP, you are only 55 years? Seems to me many of the comments here are truly scare-mongering at best. WIth 6kK baht per month you should have no problems in CM, IF you are able to contain any expensive, dangerous or foolish desires.

Dangerous? Renting 500cc motorbike with no experience behind the 'wheel'. Foolish? Eating at the Grandview Hotel buffet every day. Expensive? Golf or whores.

[akdraw]

Thank you jobin,

Yep 55 years young. I currently live in a rural southern area of the US. Theres not much I'd miss If I left. The two time I've been to Thailand (30 days each time) I was heartbroken/bummed out having to return to the US.

I've riding motorcycles since I was a kid. Rented a large CC bike in Thailand. Kind of different riding where lines on the road and street signs are only suggestions.

As far as dangerous or foolish desires, life is full of tests. I failed many and passed a few.

[Konini]

Money won't be a problem, but I think you will get bored with street food. Personally, I had 3 years of eating South East Asian street food 3 times a day every day and one morning I woke up and swore never to eat it again. That was 5 years ago, and I honestly haven't had Thai food since - I'm able to do that because I cook every day, but not everyone shares my love of cooking.

My only unique advise to you is don't burn your bridges back home. Not straight away, anyway. I've lived in a lot of different countries so know a bit about it; once the novelty wears off, and it will, you may find that you don't like it that much after all. 'Back home' has a lot of pull for some people, even people who don't expect it to. You aren't talking about a holiday, you're talking about for good. What if you don't like it or develop a serious illness which needs intensive care? Short time, 24 hour care is cheap here compared to back home, particularly if you're from US, but a stroke or Parkison's or MS? Could be years of assisted living, could be for the rest of your life, could be not as good as in US, could be just as expensive without the things you're used to around you. Hopefully that will never happen, but if it does and you want or need to go back, you will be a lot better off if you have something to go back to.

I strongly recommend that If you own your own place now, rent it out if possible or if you need to sell, buy a small apartment as an investment so that you aren't locked out of the property market should you decide to go back at some stage in the future. Once you're out you will likely never get back in at your age. Living in a developing country isn't for everyone, just like living in a city or living in the countryside isn't for everyone. Until you try it, you don't know so it's a good idea to keep your options open. Even if you don't go back, it should be a good inflation-proof investment as long as you're not in a bad area.

Not burning your bridges is particularly important for you as you are relatively young. We were 43 and 44 when we retired 8 years ago, and while I'm happy to potter around in the kitchen, and read all day long, Mr K occasionally gets bored and more particularly, misses the social interactions of being in a workplace 5 days a week. He's just left for a 3 day trip, hired a big bike and away he goes (hiring one once a month for a couple of days is better than buying one in a lot of ways; it isn't sitting in the garage most of the time because riding around town on anything but a scooter is not practical, no maintenance costs, no up front costs, a different new or newish bike every time you go, no depreciation or trouble selling it, being a regular customer he is able to tag along on any arranged tours the bike shop has (despite the comment in an earlier post, he loved the ride to Laos with half a dozen others last year), the list of reasons for not buying goes on). Every now and again though, he gets a dreamy look in his eyes and talks about going back to Melbourne or maybe to the mines in Western Australia and is quite serious about it until I talk him down. We've been together for 36 years so can bounce off each other which stops us being truly lonely; many of the people we know enjoy their lives here but despite having many friends are very lonely and very bored, although very few people will admit it. I have no doubt some would go back home tomorrow but it isn't financially viable for them, even though they don't have any possessions to dispose of or any other material reasons to stop them or hold them up.

I've always said to people don't look at it as moving to a new country, look at it like it's a long holiday. Almost 30 years ago we left England and went for a long working holiday in New Zealand and a couple of years later when we decided it wasn't for us we went for a long working holiday in Australia and since then we've had long holidays in Malaysia then Thailand - we're still on one in Thailand, 6 years and counting. If it's a holiday, you have something to go back to and there's no embarrassment of those people - you know the ones I mean - saying 'I knew you couldn't hack living there'. Have a long holiday here then a long holiday in Cambodia then a long holiday in Vietnam and before you know it you'll be older and wiser and can either choose which country you like best or continue to have long holidays in different countries or different parts of those countries. It keeps things fresh, you'll make friends in each of the places you go to and going back to see friends is always good. We're based in Chiang Mai but spend a lot of our time going for (short) holidays to visit some of the friends we've made along the way.

It's already been mentioned, but please make sure you have an insurance policy, and make sure that includes medivac. It probably won't be cheap, but insurance is always a waste of money until you have to make a claim.

Most importantly though, enjoy your life. I'm sure you'll enjoy being in Chiang Mai, and maybe you'll enjoy being in Saigon or Penang or the islands down south or those in the Philipines. Pack a bag of clothes, a good pair of walking shoes and a full Kindle (you can buy everything else when you get here) and go for it.

[FolkGuitar]

We live very comfortably on less than that. We have more than enough money for better restaurants when we want them, a few days of out-of-town travel when we wish to go, and don't seem to lack for any of the things we want. Neither of us are smokers or drinkers, which saves quite a lot of money here, but do enjoy good eating. You shouldn't have any great difficulties if your lifestyle isn't extravagant.

[cyberfarang]

Yes, you can live comfortably on 65K baht per month in Chiang Mai.

Thank you TheAppletons,

I love to hear that. I've just about convinced myself to take the plunge. I'm hoping to be in Chiang Mai by the end of the year.

Not that easy.

You should have at least 2 million baht savings as a back up for medical and other eventualities. Must be prepared for falling bank exchange rates and in the future the retirement fund of 65000 baht a month or 800000 baht in the bank could increase. Too many people like you coming over on just enough money budgets, a lot of them eventually end up with big problems.

[worgeordie]

It all depends how much you are going to spend on renting a place,

but you could have a very nice life style on 65K,especially as you

don't drink.

regards Worgeordie

[akdraw]

Thank you all. Love to here more please chime in.

cyberfarang, luckily I'm not on a "just enough money budget" I just want to get by on my monthly retirement check so I don't have to dip into my savings. If social security is still available I'll collect that at 62.

From my research I believe I'll be able to fund a decent studio apartment, eat well, lite travel around Thailand & health insurance and a little extra to boot. All on my retirement check alone 65k baht.

I hope I'm not wrong and can leave my saving alone.

I'm leaning on renting my house out just in case.

[akdraw]

Money won't be a problem, but I think you will get bored with street food. Personally, I had 3 years of eating South East Asian street food 3 times a day every day and one morning I woke up and swore never to eat it again. That was 5 years ago, and I honestly haven't had Thai food since - I'm able to do that because I cook every day, but not everyone shares my love of cooking.

My only unique advise to you is don't burn your bridges back home. Not straight away, anyway. I've lived in a lot of different countries so know a bit about it; once the novelty wears off, and it will, you may find that you don't like it that much after all. 'Back home' has a lot of pull for some people, even people who don't expect it to. You aren't talking about a holiday, you're talking about for good. What if you don't like it or develop a serious illness which needs intensive care? Short time, 24 hour care is cheap here compared to back home, particularly if you're from US, but a stroke or Parkison's or MS? Could be years of assisted living, could be for the rest of your life, could be not as good as in US, could be just as expensive without the things you're used to around you. Hopefully that will never happen, but if it does and you want or need to go back, you will be a lot better off if you have something to go back to.

I strongly recommend that If you own your own place now, rent it out if possible or if you need to sell, buy a small apartment as an investment so that you aren't locked out of the property market should you decide to go back at some stage in the future. Once you're out you will likely never get back in at your age. Living in a developing country isn't for everyone, just like living in a city or living in the countryside isn't for everyone. Until you try it, you don't know so it's a good idea to keep your options open. Even if you don't go back, it should be a good inflation-proof investment as long as you're not in a bad area.

Not burning your bridges is particularly important for you as you are relatively young. We were 43 and 44 when we retired 8 years ago, and while I'm happy to potter around in the kitchen, and read all day long, Mr K occasionally gets bored and more particularly, misses the social interactions of being in a workplace 5 days a week. He's just left for a 3 day trip, hired a big bike and away he goes (hiring one once a month for a couple of days is better than buying one in a lot of ways; it isn't sitting in the garage most of the time because riding around town on anything but a scooter is not practical, no maintenance costs, no up front costs, a different new or newish bike every time you go, no depreciation or trouble selling it, being a regular customer he is able to tag along on any arranged tours the bike shop has (despite the comment in an earlier post, he loved the ride to Laos with half a dozen others last year), the list of reasons for not buying goes on). Every now and again though, he gets a dreamy look in his eyes and talks about going back to Melbourne or maybe to the mines in Western Australia and is quite serious about it until I talk him down. We've been together for 36 years so can bounce off each other which stops us being truly lonely; many of the people we know enjoy their lives here but despite having many friends are very lonely and very bored, although very few people will admit it. I have no doubt some would go back home tomorrow but it isn't financially viable for them, even though they don't have any possessions to dispose of or any other material reasons to stop them or hold them up.

I've always said to people don't look at it as moving to a new country, look at it like it's a long holiday. Almost 30 years ago we left England and went for a long working holiday in New Zealand and a couple of years later when we decided it wasn't for us we went for a long working holiday in Australia and since then we've had long holidays in Malaysia then Thailand - we're still on one in Thailand, 6 years and counting. If it's a holiday, you have something to go back to and there's no embarrassment of those people - you know the ones I mean - saying 'I knew you couldn't hack living there'. Have a long holiday here then a long holiday in Cambodia then a long holiday in Vietnam and before you know it you'll be older and wiser and can either choose which country you like best or continue to have long holidays in different countries or different parts of those countries. It keeps things fresh, you'll make friends in each of the places you go to and going back to see friends is always good. We're based in Chiang Mai but spend a lot of our time going for (short) holidays to visit some of the friends we've made along the way.

It's already been mentioned, but please make sure you have an insurance policy, and make sure that includes medivac. It probably won't be cheap, but insurance is always a waste of money until you have to make a claim.

Most importantly though, enjoy your life. I'm sure you'll enjoy being in Chiang Mai, and maybe you'll enjoy being in Saigon or Penang or the islands down south or those in the Philipines. Pack a bag of clothes, a good pair of walking shoes and a full Kindle (you can buy everything else when you get here) and go for it.

Konini I appreciate all the info and advise.

I was planning on selling my house but you and others have me re-thinking the plan. I believe the wise thing to do would be to rent it out for a while, just in case.

[amexpat]

Not that easy.

You should have at least 2 million baht savings as a back up for medical and other eventualities. Must be prepared for falling bank exchange rates and in the future the retirement fund of 65000 baht a month or 800000 baht in the bank could increase. Too many people like you coming over on just enough money budgets, a lot of them eventually end up with big problems.

40 million would be better but......

Once you get a retirement visa the 65K / month is locked in, i.e. grandfathered. And social security will be available.

Owning rental property is a good thing, I guess, but when people talk about burning bridges do they expect you can go back at age 55 and

snag a good job in the US? G'luck with that.

[Oscar2]

Yes, you can live comfortably on 65K baht per month in Chiang Mai.

if you are single, then 65K will be O.K. have a family and you are sole provider? then not a chance.

don't forget to include health and accident insurance in your monthly budget. an illness or pedestrian/vehicle accident could wipe you out if uninsured.

[Oscar2]

You'll grow bored with eating street food all the time and learn about some of the gross shortcuts used to make it. What's in those fishballs and "broth"? You don't want to know.

indeed. we never touch street food........Borax, Formalin, dangerous pesticides, re-used cooking oil washed in bleach.......etc., etc.....not worth the risk.

[akdraw]

Thanks guys

Thanks Oscar, healthcare & insurance on the list. I do believe you've ruined me on street food.

"Borax, Formalin, dangerous pesticides, re-used cooking oil washed in bleach" and that comes with a side of white rice. I've had that.

[slipperylobster]

Sure you can.

Many guys are actually "overspending". You will find rent cheaper than your home country. If you just ride a scooter/local transportation and don't put a girlfriend on a 20,000 baht salary. You can eat pretty good too. I do. A thousand a day for food and beverage is fine (cheaper if you don't hang out at pubs). 10 to 15 thousand will get you fairly nice living quarters. That leaves you with 15000 for Miscellaneous. Save 5000 a month.

However, you do need to have starting money for one time purchases to begin with.

1. A scooter

2. Insurance

3. Possibly 2 months deposit

4. Pay gym in advance.

etc. etc. Once all that is done...you are good.

Edited January 18, 2016 by slipperylobster

[mgjackson69]

Thank you all. Love to here more please chime in.

cyberfarang, luckily I'm not on a "just enough money budget" I just want to get by on my monthly retirement check so I don't have to dip into my savings. If social security is still available I'll collect that at 62.

From my research I believe I'll be able to fund a decent studio apartment, eat well, lite travel around Thailand & health insurance and a little extra to boot. All on my retirement check alone 65k baht.

I hope I'm not wrong and can leave my saving alone.

I'm leaning on renting my house out just in case.

If you are referring to USA Social Security, I would advise waiting until full retirement age (67 for those of us born 1960 and later) to start collecting, if that fits your plans.

Starting the benefit at age 62 results in ~ 30% reduction vs collecting at full retirement age.

[turk56]

Thanks guys

Thanks Oscar, healthcare & insurance on the list. I do believe you've ruined me on street food.

"Borax, Formalin, dangerous pesticides, re-used cooking oil washed in bleach" and that comes with a side of white rice. I've had that.

I have 14 years in quality earning and made out a budget snapshot in what I need when I retire in Thailand. In the meantime, I am building a sizable nest egg to support my social security payments.

[Mousehound]

I have been researching this - as have others for years. I am a frequent visitor (with a farang wife) to CM. Usually twice a year for the last eight years and hope to live there full time ASAP. I found that this has given me a bit of a feel for the cost of living. We stay at a reasonable private guesthouse in the old city which costs 25000 Bht per month. The same sort of accommodation at say Hillside 4 or Riverside would be half that. Eating out three meals a day with a fair amount of western food and a couple of beers as well as travel costs and entertainment worked out at 1000 Bht a day minimum. So 30k a month. We spent another 5000k a month on trips to Doi Inthanon, Chiang Dao etc. We hired a car or a sorngtau for the day. Add another 5000k for insurance and 5000k for reserves as well as 2000k for visas and it comes to about 60k Bht. So add to that say 5000k for electricity and water and condo levy you have 65K. But that is not including car costs etc. I would feel we could live reasonably well on 70K, but that is for two people. When we do move to CM permanently we will follow the excellent advice of those that live there - rent first and be sure of what you want. Rent from owners direct - there are several on TV. As suggested keep your bridges intact if possible. But that can be a two edged sword as well. As an immigrant to Australia I found that those that did not burn their bridges never really settled and most returned home within three years and then spent a fortune trying to get back - the grass is always greener syndrome. Learn the Thai language starting now. At least learn to read Thai. I did and the difference is amazing. Some knowledge of the language will really open up the experience and you will find you rarely get ripped off. There is a really good expat scene with some really good people in CM. There are also the usual doom and gloom merchants (not so many really). But that is life. Some make the best of things and some don't. Finally - you live to the budget that you have. If you have 20k a month you can live OK on that if you have 200k a month you will live well on that but whatever your budget, your determination to enjoy life will be far more important than your budget. Those that say that it is easier to be happy rich than poor are correct but they look at the world as glass half empty. I prefer to look at it as one half full. Life is for adventure - I eat street food and drive motorbikes in Thailand. I may not live long (It has been a pretty wild 67 years so far) but it will be a life I have enjoyed. All the best with your venture.

[elgordo38]

A lot of good advice here little I can add. I rent a central condo very reasonable rent, have a great pool, gyms close by can walk to most things, shopping, banking, paying bills, hospital ATM laundry convience stores small restaurants. Good advice on insurance if you intend to drive a car or motorbike here. I hate motorbikes I have seen to many walking wounded some with permanent injuries. Car accidents plenty even to the best of drivers. Heard a large CRASH! last night outside the condo around midnight hope no one was hurt. Keep your fly zipped and your hand on your wallet for 6 months and get used to some of the quirky ways that business is done here. Don't get confrontational walk away. Its not perfect we have burning in the mountains new condo's all over the place, immigration can be a pain, heavy traffic but no place is perfect. At 55 learn the language best investment you can make. Cheers good luck. PM me if you want more information. Thinking back I always wish someone would have given me guidance. Your 55 shepherd your money you want to outlive it. You could easily have another 30 years to go to the finish line. Always keep in mind that life can throw curve balls at you more so now than ever. I retired at 55. I paid my dues and then some.

Edited January 18, 2016 by elgordo38

[shiroboi]

I feel like the real expense in Thailand comes from family. We're barely scraping by on 120K+ a month but I know for a fact that I could live in Bangkok very comfortably for 60K/Month or less if I was single. Chiang Mai is even cheaper. Small apartments are cheap. Motorbikes are cheap and the associated fuel is cheap. Street food is cheap.

The following items will dramatically increase your price of living:

-Women in general

-Partying

-A nice house

-Children in general

-School for said children

-Toys for Children

-Cars

-Fuel for said cars.

-Using western goods/food

I don't party but I think we're spending just as much as we did back in the US per month, possibly more in some areas.

If you're single, don't require much for life and are flexible, Thai life is super affordable.

[flyDelight]

You'll grow bored with eating street food all the time and learn about some of the gross shortcuts used to make it. What's in those fishballs and "broth"? You don't want to know.

Why eating street garbage if you can get excellent Thai food for the same price? (Caffee de Train)

[MadMac]

For Chiang Mai:

You can rent a big house for 20k.

You need transport, car preferred, but bike can do. Fuel 2000B/month (car)

Electricity/water will set you back a bit, let's say 2000B/month on average over the year for a small place (no aircon needed now).

Internet/Phone 1000B/month

The rest is what you spend. So yes, 65k is fine.

[RBOP]

What a great retirement plan. Wish I could do same.