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fieldsofdreams54
Member since 22-Jun-07
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22-Jul-07, 09:51 PM (PST)
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"Retirement in Thailand - how much will it take?"
 
   LAST EDITED ON 22-Jul-07 AT 09:54 PM (PST)
 
I don't recall if this topic has been discussed and I apologize, but it's peripherally related..ha ha..

How much would it cost to retire in Thailand? I know it "depends"...let's assume a few scenarios.

1. BKK area...
2. Chiang Mai
3. Issan, but one of the larger cities.

Assumptions:

1. Renting a decent one or two bedroom apt..with air, decent area..not raging expensive..maybe similar to a middle class type of apt. in the US..one that would cost like 1000-1200 in the SF Bay area..(less elsewhere)

2. TV access..maybe satellite if they have that or great cable set up..internet connection..

3. I'd probably eat out a lot, but not at super expensive places..

4. Entertainmnet...probaby just a woman once or so a week..let's asssume a LT session once a week for kicks...

5. Travel..the ability to travel some..say 4,000 a year budgeted for intra country and intercountry travel including expenses..

So, would like $2000 USD a month do it? 2500? Too much not e nough..care to elaborate?

I'm just trying ot get an idea, but I "could" retire ina little more than a year on 35,000 a year....but might work longer because I'd think once I moved there it'd be hard to come back to the US and live on 35k and I might be too old to get another decent job..ha ha.

Thanks for the help and input!!

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sensualadventure
Member since 2-Mar-04
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22-Jul-07, 10:43 PM (PST)
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1. "RE: Retirement in Thailand - how much will it take?"
In response to message #0
 
   I'm sure you have been watching the fall of the dollar against all currencies in the world???? Another benefit of the Bush war in Iraq that he has refused to pay for....


If you really intend to live abroad...you may wish to consider if a republican vote makes sense...they have managed to devalue the dollar whenever they have any power and have now managed to destroy any sense of international credibility in our money...so good luck on what you plan to live on....

Remember...it is going to get worse so what do you plan to live on then?

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yingyang click here to view user rating
Member since 25-Sep-04
708 posts, 7 feedbacks, 14 points
22-Jul-07, 10:56 PM (PST)
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3. "RE: Retirement in Thailand - how much will it take?"
In response to message #1
 
   I don't want to debate politics since we have CH for that. I'm a direct beneficiary of Junior Bush and the Republican Congress in his first term tax cut approved legislation. Prior to his proposal getting through, the capital gains tax on residential real estate was merely $50,000 for single and $100,000 for married. Thus, as long this tax cut stays and hopefully is made permanent, I can get $250,000 tax free as a single man ($500,000 for married) - that's a major part of my bailing out ticket to paradise!

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yingyang click here to view user rating
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22-Jul-07, 10:48 PM (PST)
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2. "RE: Retirement in Thailand - how much will it take?"
In response to message #0
 
   This has been discussed here before and in some detail. The detail and variables are MANY, but I'll say this in general. Pattaya is a bit cheaper than BKK and upcountry can be a whole lot cheaper. Next door Cambodia or Laos can likewise be substantially cheaper, in upcountry areas especially.

I have friends who have lived (or retired) in various parts of Thailand, Cambodia, Viet Nam, Laos, Malaysia and Indonesia on as little as about $500 month. Their situation is usually living in basically non-tourist area, with a local GF and pretty much local standard of living basics. Not exactly what I would choose but I might consider something about like this... By the same token some of other guys who splurge up to say around $1000-$1500 month live like KINGS OF SIAM in their little villages. Depends on WHAT you what and WHERE you want to have IT.

My personal investment interest income alone should be around $1500 mo. which is about the income required for a long-term retirement visa in Thailand - if that's where I end up in a 2-4 years. Hurry up and come back a bit Calif. R.E. market so I can sell my free and clear home!

This sort of sums it up nicely from the blog of an old Asia hand:

Asia for the Budget Traveller

Inspired by the recent Mercer HR study on the living costs of popular cities around the world, World’s Most Expensive Cities: June 2007: Guide for budget travelers. Mercer study looks at the cost of living for expats around the world, in order to determine which are the most expensive cities. Wanting to find out how expensive various cities around the world are for budget formula list below compares the cost of budget accommodation and inexpensive local meals of 94 different cities around the world. The formula is only based on these two variables, and provides a value for “Budget Cost/Day” of a city. Below is a more detailed description of the two variables:

The cheapest private, double occupancy room that I could find in each city. (I used private rooms, as they were the most commonly available accommodation options I found across the board. This does not mean that these are the cheapest of all accommodation options, as a dorm style accommodation is certainly less expensive when available. However, for comparison purposes it made more sense to just look at private rooms.)

The price of a cheap local meal in each city, multiplied by 2. Meant to represent the cost of two meals per day.

Obviously, there are many other travel expenses that I didn’t consider, such as transportation costs, site-seeing fees, bars/clubs, etc. Unfortunately, with my limited resources, I am simply unable to take on a more comprehensive survey. However, I still think this study provides an interesting look at the wide range of travel costs throughout different parts of the globe.

All expenses displayed below have come from either personal experiences, information provided by traveling friends, HostelBookers.com (accommodation prices), HostelWorld.com (accommodation prices), and the Lonely Planet World Guide (cheap meal prices).

# City: Country: Budget Cost/Day: Accom: Meals:

1 Vangvieng Laos $4.25 $3.25 $0.50
2 Goa India $4.50 $3.50 $0.50
3 New Delhi India $5.50 $4.50 $0.50
4 Bangalore India $6.00 $5.00 $0.50
5 Bangkok Thailand $6.23 $3.73 $1.25
6 Ho Chi Minh Vietnam $6.86 $5.00 $0.93
7 Quito Ecuador $7.00 $5.00 $1.00
8 Phom Penh Cambodia $7.00 $3.00 $2.00
9 Bali Indonesia $7.16 $6.50 $0.33
10 Asuncion Paraguay $8.00 $4.00 $2.00
11 Kathmandu Nepal $8.29 $3.67 $2.31
12 Beijing China $8.50 $6.50 $1.00
13 Lima Peru $8.50 $4.50 $2.00
14 La Paz Bolivia $8.90 $4.90 $2.00
15 Cairo Egypt $9.84 $4.62 $2.11
16 Shanghai China $10.00 $8.00 $1.00
17 Nairobi Kenya $10.38 $8.00 $1.19
18 Accra Ghana $10.50 $8.50 $1.00
19 Buenos Aires Argentina $10.50 $6.50 $2.00
20 Cuzco Peru $11.25 $7.25 $2.00
21 Havana Cuba $11.32 $7.00 $2.16
22 Bogota Cuba $11.97 $9.97 $1.00
23 Kuala Lumpur Malaysia $12.44 $6.06 $3.19
24 Taipei Taiwan $12.46 $9.42 $1.52
25 Sofia Bulgaria $12.53 $9.77 $1.38
26 Panama City Panama $13.00 $9.00 $2.00
27 Managua Nicaragua $14.00 $11.00 $1.50
28 Santiago Chile $15.00 $9.00 $3.00
29 Oaxaca Mexico $16.55 $12.55 $2.00
30 San Jose Costa Rica $17.00 $11.00 $3.00
31 Salvador Brazil $17.18 $12.00 $2.59
32 Guadalajara Mexico $17.52 $13.52 $2.00
33 Hong Kong China $17.95 $15.95 $1.00
34 Jerusalem Israel $18.00 $12.00 $3.00
35 Lusaka Zambia $18.50 $16.50 $1.00
36 Mumbai India $18.84 $17.84 $0.50
37 Guatemala City Guatemala $19.00 $15.00 $2.00
38 Istanbul Turkey $19.56 $15.00 $2.28
39 Prague Czech Republic $19.76 $14.12 $2.82
40 Mexico City Mexico $20.09 $16.09 $2.00
41 Cape Town South Africa $20.66 $15.00 $2.83
42 Singapore Singapore $20.81 $16.91 $1.95
43 Osaka Japan $21.13 $12.63 $4.25
44 Minsk Belarus $22.00 $20.00 $1.00
45 Toronto Canada $22.10 $14.60 $3.75
46 Tokyo Japan $22.19 $13.19 $4.50
47 Sao Paolo Brazil $22.66 $17.48 $2.59
48 Kiev Ukraine $23.00 $21.00 $1.00
49 Budapest Hungary $23.62 $18.14 $2.74
50 Seoul South Korea $24.07 $19.09 $2.49
51 Sarajevo Bosnia-Hercegovina $24.36 $17.44 $3.46
52 Kyoto Japan $26.50 $18.00 $4.25
53 Rio de Janeiro Brazil $27.07 $21.89 $2.59
54 Belgrade Serbia $29.02 $23.02 $3.00
55 Warsaw Poland $29.26 $22.08 $3.59
56 Melbourne Australia $29.63 $21.13 $4.25
57 Auckland New Zealand $30.61 $19.77 $5.42
58 Lisbon Portugal $32.54 $24.42 $4.06
59 San Francisco United States $33.00 $25.00 $4.00
60 Montreal Canada $33.50 $26.00 $3.75
61 Rome Italy $33.84 $20.30 $6.77
62 St. Petersburg Russia $33.90 $27.90 $3.00
63 Los Angeles United States $34.00 $26.00 $4.00
64 Marrekech Morocco $34.04 $28.00 $3.02
65 Sydney Australia $34.91 $26.41 $4.25
66 Florence Italy $35.16 $21.62 $6.77
67 Bratislava Slovakia $35.47 $29.03 $3.22
68 Quebec City Canada $35.50 $28.00 $3.75
69 Chicago United States $36.50 $28.50 $4.00
70 Berlin Germany $36.53 $25.71 $5.41
71 Athens Greece $37.26 $23.72 $6.77
72 Paris France $37.89 $27.07 $5.41
73 Dubai United Arab Emirates $38.72 $36.00 $1.36
74 Moscow Russia $38.99 $30.99 $4.00
75 Vienna Austria $39.82 $29.00 $5.41
76 Madrid Spain $39.98 $29.16 $5.41
77 Manchester England $42.16 $30.12 $6.02
78 Nice France $42.32 $31.50 $5.41
79 Boston United States $43.00 $35.00 $4.00
80 Washington DC United States $43.00 $35.00 $4.00
81 Stockholm Sweden $43.14 $32.90 $5.12
82 New York United States $44.00 $35.00 $4.50
83 Marseille France $44.65 $33.83 $5.41
84 Milan Italy $46.02 $32.48 $6.77
85 Brussels Belgium $46.54 $33.00 $6.77
86 Helsinki Finland $48.04 $37.22 $5.41
87 Barcelona Spain $48.42 $34.88 $6.77
88 Munich Germany $48.71 $37.89 $5.41
89 Edinburgh Scotland $53.35 $41.31 $6.02
90 Oslo Norway $55.12 $44.94 $5.09
91 Dublin Ireland $56.25 $48.13 $4.06
92 Copenhagen Denmark $62.79 $50.05 $6.37
93 London England $63.67 $51.62 $6.02
94 Amsterdam Netherlands $67.67 $54.13 $6.77


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fieldsofdreams54
Member since 22-Jun-07
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22-Jul-07, 11:13 PM (PST)
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4. "RE: Retirement in Thailand - how much will it take?"
In response to message #2
 
   Thanks for the info...

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yingyang click here to view user rating
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22-Jul-07, 11:34 PM (PST)
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5. "RE: Retirement in Thailand - how much will it take?"
In response to message #4
 
   Your USD $35,000 annual retirement is relatively astronomical in most places in S.E. Asia - probably puts you in the upper 10-20% of incomes for retired expatriates out there. Heck, you could fly home 1st class just about every year if you wanted too and probably not regret that little splurge.

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fieldsofdreams54
Member since 22-Jun-07
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22-Jul-07, 11:42 PM (PST)
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6. "RE: Retirement in Thailand - how much will it take?"
In response to message #5
 
   Interesting...do you live in Thailand yourself?

Hmm...I'm going to have to start considering it even more than I have..I'm still a ways away..but do have the option in a year or so of getting that much per year..so I'll have to "think" about it...my fear is getting "locked" out of the US should I decide to come back..must harder to live in 35k here...ha...

I didn't realize the 35K was so "high" for expats there in SE Asia, but I suppose that's a big reason many are there..quality of life for less money...etc...

Thanks for the input...

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yingyang click here to view user rating
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22-Jul-07, 11:59 PM (PST)
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7. "RE: Retirement in Thailand - how much will it take?"
In response to message #6
 
   >Interesting...do you live in Thailand yourself?

No, but I first went to Thailand in 1982 and have been back over two dozen times since - plus lots of other countries in the region.

>
>Hmm...I'm going to have to start considering it even more
>than I have..I'm still a ways away..but do have the option
>in a year or so of getting that much per year..so I'll have
>to "think" about it...my fear is getting "locked" out of the
>US should I decide to come back..must harder to live in 35k
>here...ha...

That's part of the reason I have not "pulled the trigger" just yet.
I'm definitely going to do it, just want to be right on the timing so I won't look back with a single regret.

>
>I didn't realize the 35K was so "high" for expats there in
>SE Asia, but I suppose that's a big reason many are
>there..quality of life for less money...etc...

Of course, there are sooo many different kinds of expats living in S.E. Asia with varied circumstances. Europeans have a lower retirement age than US of 55 (I guess in USA it's technically 62) and they generally get nice benes which are more easily transferable to 3rd countries, or visa exceptions, etc. Thus, you have LOTS more Euros than Americans retired all over Asia not to mention Canadians, Aussies, etc.

You might want to look at ThaiVisa.com as a good starting point for more indepth info (at least on Thailand).

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paulfr click here to view user rating
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28-Jul-07, 01:11 AM (PST)
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8. "RE: Retirement in Thailand - how much will it take?"
In response to message #0
 
   LAST EDITED ON 28-Jul-07 AT 01:15 AM (PST)
 
With the present exchange rate of 32 B/$
I would say you need $3000/month to live nicely, that is
a Western type lifestyle with a car. $4000/mo would be
more comfortable.

As a previous poster said, it is possible to live on
$500/month but it would be up country and very spartan
existence. No cable TV, no internet at home, no Western food,
no trips anywhere, etc.

15 minutes outside Chaing Mai you can rent a house for 9000B/month ~ $300/mo. But you will need a car. A rental is 15000B/mo.

A very small one room apt outside Bkk can be had for 4000B/mo.
A friend of mine is well connected to Thais so his room is larger and closer in to the city. But you will not have such a connection I assume.

Inside Bkk you can rent a nice 1BR for 10-15000B/mo with a one year lease.

Best to come to Bangkok for a nice 2 week visit and see
what apts/houses go for yourself.

And the ladies here are gorgeous and available BUT you will need
money to enjoy that delicacy.

Note it is too easy to underestimate what you will need/want.
Too many guys burn out and have to leave before a year is out.
--------------
Edit in ...
Just reread your post ..... yes $35000/yr [net/net/net]
would be fine, especially if it is inflation adjusted every year.

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fieldsofdreams54
Member since 22-Jun-07
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29-Jul-07, 11:16 PM (PST)
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9. "RE: Retirement in Thailand - how much will it take?"
In response to message #8
 
   Thanks for the information...My 35k would be taxable...Fed Inc. tax, I suppose, but just got me thinking..I guess no California State Tax? It will be inflation adjusted...

Looks doable..perhaps I will work also ....is it legal to have an "internet" type job while in Thailand or is that considered a no-no in Thailand?

Sorry...I'm a little igonorant on this...

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Rocket
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30-Jul-07, 01:16 AM (PST)
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10. "RE: Retirement in Thailand - how much will it take?"
In response to message #9
 
   If your U.S. address from where your tax base is registered is in CA, then you'll have to pay CA tax, unfortunately. Int'l tax law can actually get pretty complicated - I highly recommend speaking to an experienced int'l tax accountant before you commit to any decisions. I'm speaking from experience.

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syd_tybil
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30-Jul-07, 01:41 PM (PST)
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12. "RE: Retirement in Thailand - how much will it take?"
In response to message #10
 
  
>If your U.S. address from where your tax base is registered
>is in CA, then you'll have to pay CA tax,

I am seriously considering a brief relocation to Nevada (no state tax) prior to retiring in Thailand, just to avoid paying CA tax year
after year once I am gone. I have heard that you only need
to stay in Nevada a brief time and establish residency by
getting a driver's license and registering to vote there.

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paulfr click here to view user rating
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30-Jul-07, 04:13 AM (PST)
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11. "RE: Retirement in Thailand - how much will it take?"
In response to message #9
 
   LAST EDITED ON 30-Jul-07 AT 04:14 AM (PST)
 
Your Fed tax on $35K if you are single with no deductions and no itemizing would be around 2-4K. But you can teach English and make some of that up and what you earn here is US tax free if you reside here 330 days/yr [up to 82K$].

If you buy a internet business/website which earns money in the US you can do what you want but will pay US tax.

Getting a work permit to work here is not easy unless you have the job lined up with a US/Western company before you come. Very few can do this.

General rule is you can [Gov't forbids] not take a job a Thai can do and the company must prove this to be able to hire you.


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