7 Reasons to Retire in Thailand

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7 Reasons to Retire in Thailand

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"7 Reasons to Retire in Thailand

U.S.News & World Report LPBy Joe Udo | U.S.News & World Report LP – 10 hours ago

Retirement could be financially difficult for many of us. The median retirement account balance of U.S. households near retirement is very low, and many people will be dependent on Social Security benefits. One way to reduce your cost of living is to retire to a lower cost country. U.S. dollars will go much further in Southeast Asia and South America than in the U.S. Thailand is a great example of a country many people contemplate as a retirement spot. Here are seven reasons to consider retirement in Thailand:

A lower cost of living. The cost of living in Thailand is generally more affordable than in the U.S. You can buy a comfortable one-bedroom condo in the central Chiang Mai area for around $50,000 or rent one for about $500 per month. Food, transportation, entertainment and other necessities are all more affordable there. Many expats can live a very comfortable lifestyle on $1,500 per month in Thailand. It's a great alternative to scraping by in the U.S.

Thai food. Thai restaurants are a favorite for many of us. If you like Thai food, retiring in Thailand will be a foodie paradise for you. There are many different dishes that just aren't available in the U.S. You can also take cooking classes for an affordable price to learn how to make those dishes. Exploring Thai cuisine can be a great retirement activity if you have the time. While the food is much spicier in Thailand, you can always ask the restaurants to make your food without chili peppers.

Foreign foods are available. Of course, we all like our comfort foods, too. The good thing about Thailand is the availability of cheese, wine and peanut butter. There is also a huge diversity of restaurants to choose from. Japanese sushi, Indian curry, Korean BBQ, pizza and pubs are there in the bigger cities if you need a taste of home. Foreign restaurants are much more expensive than local places, but it can be a great comfort for expats.

Warmer climate and exotic setting. There are many scenic beaches in Thailand, and the weather is tropical. If you are tired of dealing with snow and ice, then an umbrella drink in Phuket might be a good fit for you. It takes a little time to get used to the humidity, but that's what the AC is for.

Travel headquarters. Thailand is a great starting point for traveling to the rest of Asia. There are many discount flights to the surrounding countries. China, Japan and Vietnam are all fascinating and worth a visit. Living in Thailand for a couple years could give you an opportunity to thoroughly explore these foreign cultures.

Retirement visa. Retirement visas for Thailand are available to foreigners age 50 or older. These retirement visas are good for one year and can be renewed without leaving the country. If you can show proof of income (from a pension or other source) of about $2,100 per month or a bank account with at least $26,000, then you can apply for a retirement visa.

Many foreigners. Thailand had over 22 million foreign visitors in 2012. If you stick to the well-worn paths, you will be able to meet many expats and tourists. Most local people are used to foreigners, and won't stare too much. There are many businesses that cater to foreigners including restaurants and grocery stores.

However, there are some downsides to retirement in Thailand. Medical care can be puzzling in Thailand, and foreigners will probably need international health insurance. The language barrier can also be difficult if you're not open to learning something new. It's a good idea to take an extended visit before moving to be sure you can handle it. But if the culture agrees with you, retiring in a more affordable location like Thailand can significantly reduce your living costs.

Joe Udo blogs at Retire By 40 where he writes about passive income, frugal living, retirement investing and the challenges of early retirement. He recently left his corporate job to be a stay at home dad and blogger and is having the time of his life. "

Source: http://finance.yahoo.com/news/7-reasons ... 00801.html
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Re: 7 Reasons to Retire in Thailand

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Interesting you post this when you've written of your disaffection and still list your location as 'Hua Hell'.

Having a change of heart?
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Re: 7 Reasons to Retire in Thailand

Post by bkistheone »

ive just retired here and loving it!
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Re: 7 Reasons to Retire in Thailand

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I know everyone's lifestyle is a bit different, but I feel like we live well and spend quite a bit less than US$1500 a month. Granted, I have no rent, care payment or other debt....
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Re: 7 Reasons to Retire in Thailand

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MrPlum wrote:Interesting you post this when you've written of your disaffection and still list your location as 'Hua Hell'.

Having a change of heart?
Nope, just wanted to see the discussion and see if anyone else noticed the lack of detail about the reasons NOT to retire in Thailand. So far, I guess everyone else is ok with the oppressive year round heat, extremely poor infrastructure, having to report to immigration every time you change your mind :wink:, corruption (government and private), dual pricing, constant battle with varmints (like rats, snakes, and property developers :D ), impossibility of foreigners to legally own a home (except a condo) etc., etc., etc. The writer mentioned if you didn't like the heat there was always air con, but he didn't mention that if you use that you cannot live here on the budget he proposed.

I also noticed the only two specific places mentioned were Chiang Mai and Phuket. While I loved and would have considered living in Phuket 20 years ago, it is now ruined (which is rapidly happening to Hua Hin), but I do like Chiang Mai except that with my asthma, the annual sugar cane burn that can last up to 4 months with the inversion that traps the smoke over the city will not allow me to live there.

My tag line of "Hua Hell" refers more to the climate than anything else. As far as Thailand goes, Hua Hin is probably one of the best places to live if you want to be in a city/town with western food and amenities available, but it has been changing for the worse as it has grown, in my humble opinion, at an alarming rate over the last 10 years with no end in sight.
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Re: 7 Reasons to Retire in Thailand

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hhfarang

I have read a lot.... If not most of your posts....

And to my mind they have all been pretty balanced.... If its good you praise it.... If its bad you quite rightly say so.....

You said....

" but it has been changing for the worse as it has grown "

Does that not apply.... Equally in every city / town...... Business.... Etc

The mantra.... That bigger is better..... Is nearly always wrong.....
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Re: 7 Reasons to Retire in Thailand

Post by jingjoe »

I guess if thailand or hua hin specifically was "perfect" in the sense of infrastructure,climate,vermin,corruption,etc etc ...i couldn't afford to live here....
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Re: 7 Reasons to Retire in Thailand

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Ratsima wrote:I know everyone's lifestyle is a bit different, but I feel like we live well and spend quite a bit less than US$1500 a month. Granted, I have no rent, care payment or other debt....
'We' on 48,000 baht per month!

Yes, my lifestyle is different.
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Re: 7 Reasons to Retire in Thailand

Post by heartofmidlothian »

What is the point in moaning about Hua Hin and continuing to live here. Lots of other places you could live around Asia. Quite a few places in Malaysia, Vietnam and Indonesia that are at altitude for cooler weather and are also cheap to live.
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Re: 7 Reasons to Retire in Thailand

Post by Don East Stand »

Hi,

Let me think ..... 7 reasons to retire in Thailand......... :idea:

Monday, Tuesday, Wednesday, Thursday, Friday, Saturday, and Sunday!!!

:cheers: :cheers: :cheers:
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Re: 7 Reasons to Retire in Thailand

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nanyang wrote:
Ratsima wrote:I know everyone's lifestyle is a bit different, but I feel like we live well and spend quite a bit less than US$1500 a month. Granted, I have no rent, care payment or other debt....
'We' on 48,000 baht per month!

Yes, my lifestyle is different.
Well, that's just about US$1500 at the current exchange rate.

Of course, I live in Korat where food and transport prices are significantly lower. Plus, there fewer opportunities to spend.

I think Don East Stand has the right idea....
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Re: 7 Reasons to Retire in Thailand

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Maybe it's the kind of (like minded?) people I attract or that attract me, but over the ten (nearly) years I've lived here the very best friends I've made have ALL gone back or are in the process of selling up and moving back to their home country or a more "first world" country (Singapore in a couple of cases). I guess people like this don't post regularly on the forum. They are a cross section of British, Canadian, Swedish, Australian, and American. Also, they are/were mostly family people and not the types who spend most of their time on a bar stool.

And the reason I haven't left yet is that I am a family man myself in that I love my wife and she is Thai. Do you think she would be happy in Malaysia, Vietnam and Indonesia as suggested above... I seriously doubt it. We are actually considering moving back to the U.S. (where she was happy and regrets ever leaving) but I'm waiting until I can qualify for medicare and to see how Obamacare shakes out for her as health costs and health insurance costs there are prohibitive. It may or may not be financially feasible next year (when I qualify for Mecdicare), so we'll see. Everything else is as affordable as living in Hua Hin, depending on location of course in the U.S.

So I am certainly not alone in my opinions, maybe just the only one with the balls to publicly post them and take the flack from you defenders of this paradise or maybe most of the people who don't like it have already figured out a way to leave. :duck: :duck: :duck: :P
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Re: 7 Reasons to Retire in Thailand

Post by kendo »

Hi Hhfarang
I have wanted to say this before, why don't you compromise with you're wife and live between both country's. If you choose the right property's you can even fund you're lifestyle renting one out whilst you are in the other country.
I think a high rise apartment would suit you cool mountain or ocean breezes no mosqutos above the 10 floor no wildlife like snakes to bother you. In the states buy a property that could easy rent out for maximum value.

I take my hat off to you, sticking it out for your wife but kinda feel you are cheating yourself its about both being happy, ask yourself the question could Thailand be more bare able if you new you where only going to be there for six months a year.

Unless I get made redundant early I think this is the route that I am favouring at the moment although I have another twenty years to work that might change.

Kendo. :cheers:
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Re: 7 Reasons to Retire in Thailand

Post by jingjoe »

I wonder if its an age thing as well for some people wanting to return home.
Im under no illusions of thailand been some wonderland,its purely a financial thing for me,i get more bang for my buck here than australia
.As much as its a cliche....the girls find me handsome here..
and it does a lot for your self esteem as a single man, walking around and actually been able to make eye contact with the ladies and not getting shot down like at home.
Maybe with age these things won't hold the same sparkle and if married,maybe i would want to return home too,but for now im not too concerned by the little annoyances of thailand
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Re: 7 Reasons to Retire in Thailand

Post by nanyang »

kendo wrote:Hi Hhfarang
I have wanted to say this before, why don't you compromise with you're wife and live between both country's. If you choose the right property's you can even fund you're lifestyle renting one out whilst you are in the other country.
I think a high rise apartment would suit you cool mountain or ocean breezes no mosqutos above the 10 floor no wildlife like snakes to bother you. In the states buy a property that could easy rent out for maximum value.

I take my hat off to you, sticking it out for your wife but kinda feel you are cheating yourself its about both being happy, ask yourself the question could Thailand be more bare able if you new you where only going to be there for six months a year.

Unless I get made redundant early I think this is the route that I am favouring at the moment although I have another twenty years to work that might change.

Kendo. :cheers:

Kendo, you'll probably find that when you're a lot older the thought of being in a metal tube for at least fourteen hours each way has less and less appeal.

I agree with hhfarang and, after fourteen years in Thailand, I will be in Europe this autumn.

Soon after arriving in Hua-Hin I met an old American named Arnold Bennett via Hua-Hin golf society.
Albert had been in Thailand for a number of years then involved, in some way, with golf courses.
He said that he was sick and tired of Thailand and one reason being the longer you stay in Thailand the more and more visible corruption becomes.
I couldn't identify with his comment at that time but I can now.
He passed away a few years ago.
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