How to plan retirement in Thailand

[khunPer]

Lars C,

Planning 10-15 years ahead may be little difficult, however good to have a long term goal. I say it, because I try to look 10-15 years back at the place where I settled here – i.e. that would be around 2002 to 2007 – and figure out if planning from then, would equal the situation now. Lots has changed, some people leave and say it has changed to worse, but if you're not "living in the past", it may have changed to the better. Already when I came to the place in 2001-2002, some were talking about the changes and left; whilst for us newcomers it was "paradise". What I'm saying is, would you be among those, that wish to leave, 10 year later..?

 

About buying a home, I would suggest to buy land, where you intend to settle, but don't buy a house or build anything on the land. I say that from my experience, as a house in Thailand needs lots of maintenance, due to different weather and other conditions, termites for example, and when you don't live in it, it may need even more care. A 10+ year "old" house may not be what you want to live in, and what if your view of the area has changed. Land is "easy" to sell, but getting the invested money back from a house might be more difficult – more difficult, because a used-second-hand house in Thailand is often worth less, than you build it for, whilst in many Western countries we are used to that old houses increase in value. So buy the land and keep it – land prices generally goes up, and in some areas a lot up – and when you decide it's the time for a move, rent something close to your land and be there, when building a house, the way you want it.

 

The money/funds you can set aside for a house may be well placed in Thailand, in Thai baht, as you are going to use the money in local currency, and know what you have, when avoiding currency exchange rate fluctuation; however you can play the game with a potential lottery win – or loss – saving up in foreign currency. Placed in long term fixed bank deposit, or bonds via Thai mutual funds, you can earn a net interest around the Thai inflation rate, or even beat the inflation.

 

Depending of location – as land price is mainly location – you can have a nice home for 3-5 million baht; especially if you take the time to find the right materials for decoration. Half your construction cost, or more, can easily be everything that comes after the cement structure, bricks and roof – you can find really nice and reasonable quality stuff, if you take the time to look around; i.e. contract to pay for the work, but only including materials for concrete structure, and buy all other materials yourself.

 

A monthly budget of 30,000 to 50,000 baht for two people is really a rubber-band, because it's totally up to life-style. Having a house and mean of transportation, some can live excellent for 30,000 baht a month – others need that minimum for a week's survival. So yes, your monthly budget will work, if you include the unknown factor "inflation" – i.e. your 30,000 to 50,000 baht may not have the buying-power you imagine, when we talk 10-15 years ahead – again looking back at my own experience from 10+ years as early retired here, I'm still on roughly the same budget, but have limited little compared to 10-years ago; but not that much that I feel it's a worse life-style now...

 

But what is important to consider, is the lump sums you need in Thai baht. One is for your retirement extension, 800,000 baht in a Thai bank deposit – it's much easier to just leave the money there, if you can afford it, than a combined method with bank deposit and verified monthly income – the other is a "rainy day account" for unexpected emergencies. The latter is important, as you need to consider health insurance – which can easily be 5,000, baht a month, if you wish a reasonable cover, knowing the premium will increase as you get older – or self-insurance, or a combination. And even with a full health insurance, an alien in Thailand needs instant acces to cash, just in case...  I will say, one always shall have 100,000 to 300,000 baht available – can be for anything ranging from accident, broken equipment or repair of house, a case where you need an instant flight-ticket home, or... – and if partly or full self-insured, more than that, preferable not less than 500,000 baht (some will say millions of bath). It's of course a question what the single individual can afford – but some money is always a lot more, than none – so when planning that long time ahead, you shall include bath-deposits, in your preparations.

 

My own experience, just for your information, was an idea of early self-retirement, when I was in the first half of my 50'ies. My initial financial budget was, looked in hindsight, way too low. At 55 I had been able to adjust my financial situation, could buy land in Thailand, and prepare for a move, which was done at 56, and completely signed out of my home-country when 57. I rented a home for some years in the beginning, whilst preparing for the "dream house" I could afford for my savings, building it from 2009 to 2010, and being at the construction site every day. Either I was lucky – or did an excellent planning... – because everything worked out quite well: move-out to here, Thai partner (still the same "old" girlfriend), house construction, money situation, etc. etc.; but admit, quite different from my initial "dreams", however much better...

 

I wish you good luck.

Edited March 22, 2017 by khunPer

[CharlieH]

Trying  to plan that far away seems pointless to me given the precarious status of any Government here, the  fact that they can and have changed overnight. Policies and regs change just as fast sometimes, to say nothing of exchange rates.Thats just some of the problems, there is little to no consistency either. 

Far too unstable to predict much of anything.

[Gecko123]

Exchange rates, interest rates, returns on investments, and inflation make estimates difficult that far out. I used an excel spreadsheet which allowed me to plug in variables and helped to develop worst case/best case scenarios. Day to day living expenses shouldn't be too difficult to estimate, but housing construction, international travel, imported food and clothing are tricky to estimate that far out. Would concentrate on accumulating assets for now, and shift to transition mode about 5 yrs out.

[Thaidream]

One of the key things to remember is that if you have a Thai family and are going to retire in Thailand- make sure your house/condo is paid and you cars if possible. Then you can utilize your savings/retirement pension without the stress of rent or mortgage.

As I mentioned before- I would not retire in this day and age at 50/55 . These may be top earning years and you need all the income you can get while you can get it. Thailand will always be here.

[bazza73]

The OP is trying to plan something unpredictable. He would be best advised to establish himself in his home country first by acquiring property there. Thai property has an abundance of pitfalls, and it's only the lucky or very astute who do well out of it. Many lose their shirts on it.

The OP should work as long as he can. It's a lot easier to make your money last with a life expectancy of 15 years than if it is 30 years.

I've stuck by a rule of having no more than 20% of my assets in Thailand. The other 80% stays in Australia to generate income for me. So far ( 8 years retired here ) that rule has worked well for me.

 

[recycler]

Don't commit your self to anything on that term, life is uncertain enough without investments in Thailand that are never yours.

Keep your money and see how things are when you are ready to retire, you may want to go somewhere else when the time comes.

[grollies]

khunper got it right.

 

But the land now. If you can manage it go for around 25 rai.

 

It will appreciate in value anyway.

 

If/when you get here then build your house.

 

It's a long way off, but if for whatever reason your not with your wife by then it's a relatively small loss and something to give wifey as a settlement.

 

Stash the rest of your earnings till then.

 

PS: nowt wrong with the countryside if you don't miss the company of farangs too much!

[dotpoom]

I came here for a convention 16 years ago, loved the place, went home after 3 weeks, gave up my job, sold my house, bought 3 condos in Jomtien, lived in one and lived off the rent of the other two..

 I am on my third house now ( never had a problem with them in a company name). 

   I didn' t make any plan what-so-ever and I thank God at every opportunity that I didn't. I have always been very aware that life is very short (don't bother taking off your coat, you won't be staying very long) and if possible you must grab the bull by the horns when you get the chance.

   Coming to Thailand has become a life beyond my wildest dreams. I am so grateful that I didn't waste one minute in getting away from the rat race and fulfilling my dreams.

[Lars C]

16 hours ago, Pinot said:

Just make as much money as long as you can.  It currently takes about $3000/mo to live well here and do some traveling. Buddha knows what you'll face 10-15 years from now. 

Agreed. Is the $3000/mo just living expenses our do you have a mortgage on a house/car?

[Lars C]

16 hours ago, phuketrichard said:

work as much as u can, save as much as u can.

as to expenses, I live very well here in phuket (2 of us)on $1,200-1,400/month!!!

I travel out of Thailand at least 2 times/year as well

Really good to know so thanks for sharing. I guess spending habits are very different from person to person but it ranges from 50.000-100.000 on a monthly basis. 

[Lars C]

17 hours ago, catman20 said:

another 10/15 years time you may not even be with this lady.

Well you gotta trust your wife or the marriage is pointless right? I've spend a few years miserable and mistrusting her because of all the horror stories people share online. Oddly enough I haven't found many stories with happy couples but I believe they are out there. 

 

At some point I decided to trust her and let go of my suspicions. I would say I'm a happier man because of that. My wife has given me a million reasons to trust her and it's not just talk. She's done an awful lot to earn that trust day in and out. 

[Lars C]

15 hours ago, fxe1200 said:

Rent a house, do not buy one. You never know, what might happen over time to your personal situation or the surroundings of a house bought. When you rent, you will be safe, to make a quick decision and move on. Make sure, that you do NOT spend all your assets here in Thailand, keep some decent reserves abroad.

Good point. Will keep that in mind. 

[Lars C]

15 hours ago, laochef said:

I don't know how much you know about TH, or how long you'vr been there. Having said that I would spend 1-2 years first, doing nothing, except looking around and get a feel for the suroundings, so to speak... And don't jump straight into investments, such as buying a house etc. Condos are much more expensive than houses, both to buy and rent. As for securing land, think to lease, from your wife, can be done for up to 30 years (today), and secured with the Land Department. You can also take out an "usurfruct". Google the meaning, way to much to post here... BTW, Lars, Scandinavian ?

 

Very good advice. Not a seasoned Thailand visitor so I'll take your advice into account. 

 

And yes'm Scandinavian, Danish to be more exact :-)

[Lars C]

14 hours ago, TunnelRat69 said:

This is the 2d reference to him being from UK, did I miss something??  Can't find a reference anywhere he is from UK, so how about it Lars, from UK or Northern Europe??

 

Not from the UK but Denmark. 

[Lars C]

13 hours ago, Old Croc said:

Firstly, ignore all the people who say you should never buy a house here in you're wife's name.

You've been together for six years now, you'll be approaching 20 years married when you retire. Way above the average length of marriage in any country, no need to be concerned.

 

Secondly, impossible to plan something like this so far ahead. Too many variables.

Do what every sensible planner does and concentrate on building sufficient funds to enjoy retired life, wherever it may be.

Thanks for the support. Agree that six years is a long time and we are still together 24/7 aside from work. We're closer than ever. 

 

Not looking to plan in detail but rather in the big picture. Agree on building sufficient funds and then hope it will work out so I can retire early. Are you retired and if so what are your living expenses?

[Lars C]

12 hours ago, sipi said:

How much time have you spent in Thailand Lars?

We (the missus) own a house there and we have annual extended holidays there, and I am much closer to retirement. However I haven't even considered retiring there full time as the weather would kill me for a start.

Take a few long holidays first and then think about it.

Very good advice similar to another poster. Think it would a very good idea to see how I cope with living in a foreign country for a longer period of time before making any financial decisions.

[Lars C]

10 hours ago, khunPer said:

Lars C,

Planning 10-15 years ahead may be little difficult, however good to have a long term goal. I say it, because I try to look 10-15 years back at the place where I settled here – i.e. that would be around 2002 to 2007 – and figure out if planning from then, would equal the situation now. Lots has changed, some people leave and say it has changed to worse, but if you're not "living in the past", it may have changed to the better. Already when I came to the place in 2001-2002, some were talking about the changes and left; whilst for us newcomers it was "paradise". What I'm saying is, would you be among those, that wish to leave, 10 year later..?

 

About buying a home, I would suggest to buy land, where you intend to settle, but don't buy a house or build anything on the land. I say that from my experience, as a house in Thailand needs lots of maintenance, due to different weather and other conditions, termites for example, and when you don't live in it, it may need even more care. A 10+ year "old" house may not be what you want to live in, and what if your view of the area has changed. Land is "easy" to sell, but getting the invested money back from a house might be more difficult – more difficult, because a used-second-hand house in Thailand is often worth less, than you build it for, whilst in many Western countries we are used to that old houses increase in value. So buy the land and keep it – land prices generally goes up, and in some areas a lot up – and when you decide it's the time for a move, rent something close to your land and be there, when building a house, the way you want it.

 

The money/funds you can set aside for a house may be well placed in Thailand, in Thai baht, as you are going to use the money in local currency, and know what you have, when avoiding currency exchange rate fluctuation; however you can play the game with a potential lottery win – or loss – saving up in foreign currency. Placed in long term fixed bank deposit, or bonds via Thai mutual funds, you can earn a net interest around the Thai inflation rate, or even beat the inflation.

 

Depending of location – as land price is mainly location – you can have a nice home for 3-5 million baht; especially if you take the time to find the right materials for decoration. Half your construction cost, or more, can easily be everything that comes after the cement structure, bricks and roof – you can find really nice and reasonable quality stuff, if you take the time to look around; i.e. contract to pay for the work, but only including materials for concrete structure, and buy all other materials yourself.

 

A monthly budget of 30,000 to 50,000 baht for two people is really a rubber-band, because it's totally up to life-style. Having a house and mean of transportation, some can live excellent for 30,000 baht a month – others need that minimum for a week's survival. So yes, your monthly budget will work, if you include the unknown factor "inflation" – i.e. your 30,000 to 50,000 baht may not have the buying-power you imagine, when we talk 10-15 years ahead – again looking back at my own experience from 10+ years as early retired here, I'm still on roughly the same budget, but have limited little compared to 10-years ago; but not that much that I feel it's a worse life-style now...

 

But what is important to consider, is the lump sums you need in Thai baht. One is for your retirement extension, 800,000 baht in a Thai bank deposit – it's much easier to just leave the money there, if you can afford it, than a combined method with bank deposit and verified monthly income – the other is a "rainy day account" for unexpected emergencies. The latter is important, as you need to consider health insurance – which can easily be 5,000, baht a month, if you wish a reasonable cover, knowing the premium will increase as you get older – or self-insurance, or a combination. And even with a full health insurance, an alien in Thailand needs instant acces to cash, just in case...  I will say, one always shall have 100,000 to 300,000 baht available – can be for anything ranging from accident, broken equipment or repair of house, a case where you need an instant flight-ticket home, or... – and if partly or full self-insured, more than that, preferable not less than 500,000 baht (some will say millions of bath). It's of course a question what the single individual can afford – but some money is always a lot more, than none – so when planning that long time ahead, you shall include bath-deposits, in your preparations.

 

My own experience, just for your information, was an idea of early self-retirement, when I was in the first half of my 50'ies. My initial financial budget was, looked in hindsight, way too low. At 55 I had been able to adjust my financial situation, could buy land in Thailand, and prepare for a move, which was done at 56, and completely signed out of my home-country when 57. I rented a home for some years in the beginning, whilst preparing for the "dream house" I could afford for my savings, building it from 2009 to 2010, and being at the construction site every day. Either I was lucky – or did an excellent planning... – because everything worked out quite well: move-out to here, Thai partner (still the same "old" girlfriend), house construction, money situation, etc. etc.; but admit, quite different from my initial "dreams", however much better...

 

I wish you good luck.

Thanks so much for writing such a detailed response. I really appreciate your thoughts and I'll reflect your points for a while and maybe get back to you. Very valuable advice.

[Lars C]

8 hours ago, bazza73 said:

The OP is trying to plan something unpredictable. He would be best advised to establish himself in his home country first by acquiring property there. Thai property has an abundance of pitfalls, and it's only the lucky or very astute who do well out of it. Many lose their shirts on it.

The OP should work as long as he can. It's a lot easier to make your money last with a life expectancy of 15 years than if it is 30 years.

I've stuck by a rule of having no more than 20% of my assets in Thailand. The other 80% stays in Australia to generate income for me. So far ( 8 years retired here ) that rule has worked well for me.

 

Well you gotta start somewhere if you have a dream I believe. The details will be much easier to figure out once you've got a direction and an idea of what you need to think about. 

 

Real estate issues is dependent on your wife and I think mine's a real keeper. Time will show if I'm right but of course  I'll get legal advice before jumping into any major financial decisions. 

[Lars C]

7 hours ago, grollies said:

khunper got it right.

 

But the land now. If you can manage it go for around 25 rai.

 

It will appreciate in value anyway.

 

If/when you get here then build your house.

 

It's a long way off, but if for whatever reason your not with your wife by then it's a relatively small loss and something to give wifey as a settlement.

 

Stash the rest of your earnings till then.

 

PS: nowt wrong with the countryside if you don't miss the company of farangs too much!

Agreed. What would 25 rai land cost for example in an area like Chiang Mai or Korat? Is it possible to see land for sale online just to get a sense of it all? 

[Gecko123]

Studying Thai would be a good use of your time this far out. This investment will pay great dividends when you move here. Some guys waste a lot of time dreamily anticipating a move over here which keeps getting pushed back and ultimately never happens. What's your gut reaction to the advice to start learning Thai? If you're gung-ho, I'd say that's a good indication of your seriousness about moving here. But if you're inwardly groaning, that might be telling you something too. I started studying Thai about 9 years before moving here. Without question that was the best planning decision I made.

 

I moved here at age 50, and my estimates of living costs proved to be fairly accurate. There were some negative surprises, however. Good furniture and appliances (international brands) cost almost as much as they do back home. If you have to buy clothes from overseas due to your size or tastes, the postage and customs charges can drive costs way above what you would spend back home.

 

Regarding your plan to build a house here in 10-15 years, a lot of foreigners have built some pretty nice houses here over the years. 10-15 years from now a lot of them will be getting up there age wise, and might be looking to sell out. You might be able to snag a house for cheap, or rent one fairly cheaply. Your 3-5 mm investment in house sounded high to me (also unwise) due to liquidity issues, but your 30,000-50,000 monthly budget sounded low to me. Ten years from now, maintaining a semblance of a middle-class lifestyle (car, foreign annual overseas vacations, connected, cable, aircon, gym, dining out) for two people could easily cost you 70-100,000/month. I suppose 30,000 for two people nowadays is do-able, especially out in Chaiyaphum, but you definitely won't be living la vida loca. I wouldn't want to that, even if I didn't have rent expense. Fifteen years from now, the minimum wage will probably be close to 15,000/person/month. A 7-11 clerk earns 9-10,000 baht/month right now. So 30,000/month for two people 10-15 years from now is almost certainly only going to buy you a scruffy down-and-out lifestyle.

 

It also might be a worthwhile exercise to estimate what your cost of living would be if you were to move back home at say age 60-65 due to health problems, death of your spouse, homesickness, etc. You have to keep an eye on the cost of living back home too which can really sneak up on you if you're not paying attention. Just another angle to consider.

 

Good luck to you and your wife.

Edited March 22, 2017 by Gecko123

[catman20]

4 hours ago, Lars C said:

Well you gotta trust your wife or the marriage is pointless right? I've spend a few years miserable and mistrusting her because of all the horror stories people share online. Oddly enough I haven't found many stories with happy couples but I believe they are out there. 

 

At some point I decided to trust her and let go of my suspicions. I would say I'm a happier man because of that. My wife has given me a million reasons to trust her and it's not just talk. She's done an awful lot to earn that trust day in and out. 

its all ok until its not. good luck with that !

[grollies]

5 hours ago, Lars C said:

Agreed. What would 25 rai land cost for example in an area like Chiang Mai or Korat? Is it possible to see land for sale online just to get a sense of it all? 

You'd be better searching the Chiang Mai forums for land prices there.

 

Around here on the Chon Buri/Chachengsao border land goes from anywhere between 60k - 120k THB per rai outside of the villages to 250k per rai near centres.

 

Plant mahogany and teak on it will build a nice house in 15 years time.

 

Some say pipe dreams but 10 years on we started to tap our rubber last year, bout 800 productive trees out of 1000 with 500 more on the way in 3 - 4 years time.

 

Brings in around 35k per month (split 50/50 with the tappers) when tapping, nothing at the moment as trees 'resting'. Start again next month.

[Grubster]

On 3/22/2017 at 1:36 AM, Lars C said:

I've been married to my Thai wife for almost 6 years now and am beginning to look into early retirement and moving to Thailand when I turn 50/55 years old. Which is some 10-15 years away but I like to prepare and plan so I can work my way towards reaching my goal. 

 

The rough idea is to buy a new home for around 3-5 million bath and the have a monthly budget around 30.000-50.000 bath. We are not looking at a home in Bangkok or Pattaya but maybe somewhere near her birthtown of Chaiyaphum or in a area like Chiang Mai or Korat. 

 

I'm curious about how you guys planned your retirement and how it went after you moved? Did your budget hold up and was it easy to keep? 

Any advice from you guys would help a lot so thanks in advance. 

She may become very jealous as you will be admired by many of the Thai ladies here, you may find them irresistible.  I would recommend renting a house, as it is much cheaper and/or risky than owning. You will need health insurance here. You can survive on 30 to 50 but will be on the cheap. I recommend working and saving till you can have 100,000 baht per month. At the present time you could probably teach English here for about 30,000 but I don't know about 15 years from now, hell this may be China then who knows. Good luck.

[Lars C]

17 hours ago, catman20 said:

its all ok until its not. good luck with that !

What is the point of your posts? I struggle a bit to understand them as it seems you think I'm better of divorcing my wife. If I'm way off plese elaborate.

 

When I met my wife 6.5 years ago I read alot of  horror stories about thai girls ripping off their foreign partner. Also alot of people advised me against marrying her and it tormented me in the beginning of the relationship. It actually made me look for any little sign that I couldn't trust her which is unhealthy in any relationship. 

 

At some point I decided she's proven her self and I became a much happier man. I'm not naive and have secured my assets but the lady has yet to ask for one single penny after six years.

[catman20]

7 hours ago, Lars C said:

What is the point of your posts? I struggle a bit to understand them as it seems you think I'm better of divorcing my wife. If I'm way off plese elaborate.

 

When I met my wife 6.5 years ago I read alot of  horror stories about thai girls ripping off their foreign partner. Also alot of people advised me against marrying her and it tormented me in the beginning of the relationship. It actually made me look for any little sign that I couldn't trust her which is unhealthy in any relationship. 

 

At some point I decided she's proven her self and I became a much happier man. I'm not naive and have secured my assets but the lady has yet to ask for one single penny after six years.

hi it was not meant as an insult it was meant as it sounded, its all OK until its not. i believe most relationships have a life span, it could be with girlfriends, friends, male or female, work colleges ect. i am sure you know many people that have been married and divorced and their marriages were all OK until it wasn't and then they will tell you of the horror stories of what they went through to get rid of her the loss of money, property, kids ect.

 me personally i like to keep my life simple at my age its a lesson well learnt to keep life simple with as little problems as possible.

being single, live alone, have  girlfriends, no kids, no businesses, no working in Thailand, and have as little to do with the farang  here as possible. all makes for a happy life 

Edited March 24, 2017 by catman20

[swissie]

Health insurance is and will be a major factor. Even today for folks past the age of 70, health insurance becomes very expensive. So many decide to opt for "self-insurance". But as of today (in my view), 5 mill Bht would have to be set aside for "self-insurance". How much will it be 15 years from now ?

To think, that anyone would have to sell his 5 mill Bht home to cover a 5 mill Bht hospital bill sounds like a real nightmare to me.

OP: Since you are from Denmark, could you stay on govenment-health-insurance in Denmark, even if you live in Thailand ? If yes, this would probably be a far better insurance-deal, than any other international or Thai insurance could ever offer.

A NOTE OF IMPORTANCE: Insured by a Thai Insurer (if one should fall seriously ill within 5 years after sighning-up), the company lawyers and their "in-house" medical experts will find a way to declare the illness as a "pre-existing-condition" and therefore will not satisfy any claims.
In my case, this was only one reason to abandon my retirement in Thailand after 5 years. More reasons, but too numerous to mention here.
Cheers.

[Grubster]

7 hours ago, swissie said:

Health insurance is and will be a major factor. Even today for folks past the age of 70, health insurance becomes very expensive. So many decide to opt for "self-insurance". But as of today (in my view), 5 mill Bht would have to be set aside for "self-insurance". How much will it be 15 years from now ?

To think, that anyone would have to sell his 5 mill Bht home to cover a 5 mill Bht hospital bill sounds like a real nightmare to me.

OP: Since you are from Denmark, could you stay on govenment-health-insurance in Denmark, even if you live in Thailand ? If yes, this would probably be a far better insurance-deal, than any other international or Thai insurance could ever offer.

A NOTE OF IMPORTANCE: Insured by a Thai Insurer (if one should fall seriously ill within 5 years after sighning-up), the company lawyers and their "in-house" medical experts will find a way to declare the illness as a "pre-existing-condition" and therefore will not satisfy any claims.
In my case, this was only one reason to abandon my retirement in Thailand after 5 years. More reasons, but too numerous to mention here.
Cheers.

I have a friend who had Quadruple bypass surgery here a few years back for 1.2 and they did a wonderful job. I think one million would be ok, as long as you could go back home for care after you are able.  That said, I think many coming here don't figure this medical issue into their plan. Many do not have an exit plan either. I won't mind dying here in fact I would prefer to, but there could be many reasons that I would want to leave. While day to day living here may be inexpensive, retirement security has little to do with that.

[khunPer]

11 hours ago, swissie said:

Health insurance is and will be a major factor. Even today for folks past the age of 70, health insurance becomes very expensive. So many decide to opt for "self-insurance". But as of today (in my view), 5 mill Bht would have to be set aside for "self-insurance". How much will it be 15 years from now ?

To think, that anyone would have to sell his 5 mill Bht home to cover a 5 mill Bht hospital bill sounds like a real nightmare to me.

OP: Since you are from Denmark, could you stay on govenment-health-insurance in Denmark, even if you live in Thailand ? If yes, this would probably be a far better insurance-deal, than any other international or Thai insurance could ever offer.

A NOTE OF IMPORTANCE: Insured by a Thai Insurer (if one should fall seriously ill within 5 years after sighning-up), the company lawyers and their "in-house" medical experts will find a way to declare the illness as a "pre-existing-condition" and therefore will not satisfy any claims.
In my case, this was only one reason to abandon my retirement in Thailand after 5 years. More reasons, but too numerous to mention here.
Cheers.

No, you cannot stay in the Danish healthcare system, when you move to Thailand – I'm Dane, and speak from experience – the first thing you need to give up, when signing out of Denmark, is your healthcare card (Da: Sygesikringsbevis/Sundhedskort), even any taxable Danish income will still tax you for your healthcare share. It has to do with the 180-days rules – which many, if not most countries follows – retiring in Thailand with permission of extension to stay, mean you stay here more than 180-days a year, and therefore is "taxable" to Thailand (including some countries have double-taxation-agreements, like Denmark-Thailand); and giving up 180-days stay in Denmark, and registered address (ownership of permanent home), release one's taxation to Denmark, which in most cases are beneficial when living in Thailand.

 

So moving permanent to Thailand, a Dane need either health insurance, or to be partially or fully self-insured. Returning "home" and re-entering the Danish health-system is not as simple as an air-ticket, as one first need to sign-in as permanent resident, finding a permanent address/home i Denmark, and one will also be fully taxable (again) to Denmark; which can be problematic in some situations. Furthermore, the incident might be a case, where repatriation is as simple as a seat in an airplane, but extremely difficult, and extraordinarily expensive.

 

There have been various posts about the amount needed for self insurance, which may both have to do with use of private hospitals, or the more affordable government hospitals – which may not always offer the same fast service as private hospitals, and in other cases be almost the same; however, it can be different from province to province if a governmental hospital is an option – and if more than one major incident shall be included; i.e. if you spend almost all, or all, of your self-insurance-savings on one incident, wheat happen if you need more care, or relapse, or another disease event occurring? Some talks about 800,000 to 1 million baht, others mention a minimum of 3 million baht.

 

Health care and personal accident, is a major issue to consider – the need of the first, health care, can partly be judged from family health-inheritance, and partly from life-style – it's probably quite individual what each person need to set aside, and also can afford in either insurance, and/or self-insurance...

[Kwasaki]

14 hours ago, swissie said:

A NOTE OF IMPORTANCE: Insured by a Thai Insurer (if one should fall seriously ill within 5 years after sighning-up), the company lawyers and their "in-house" medical experts will find a way to declare the illness as a "pre-existing-condition" and therefore will not satisfy any claims.

Never heard of that maybe a good call but when my wife got insurer's for me after a Dengue fever survival l had Med check-over,  l declared all  "pre-existing-condition"  had in UK and where,  and have been given a good cover at 67 in 2.1/2 year have had 1 stop over in hospital and they made payment to the hospital, it wasn't big cost but no problem.