I have lived in Thailand for 10 years and it's very possible to live on 1,500 dollars a month no problem. Can rent a room for 200 to 400 dollars a month and if you can eat Thai food, can eat for 6 dollars a day easily. If you only eat western food then about 15 dollars a day. Just budget yourself and can easily live in Thailand for 1 ,500 dollars a month.
The intent of this video was I am sure good, but like many say here, it all depends on how you want to live. The cost of living in Thailand will vary on each person, and the lifestyle they choose to live. I have been here for 5 years. You can use credible agencies to get a retirement visa, which will allow you to not have to jump through hoops or having to have a load of money in a Thai bank. I have a retirement visa now. There are many ways to get things done here, and those ways vary from city to city.
When I was in Thailand (Bangkok) 3 years ago, Cats were the thing. There were tons of street cats and they were very friendly. Everyone loves and takes care of the street cats. I made friends with one very easily. I love cats and that stood me well with the doorman of my hotel, who also, apparently, was taking care of that particular cat.
Appreciated, the intent of the video. People vary so much in their needs. As a frugal person, you will definitely be at an advantage wherever you live. For me, I can have a wonderful time spending relatively little - staying in a cheap room on the River Kwae, hiring a bicycle in Cha-am to explore, spending the afternoon trekking up Erawan Falls etc. I enjoy 40 baht meals and sitting by the beach in Pattaya or Jomtien with a bottle of Chang and a snack. When my state pension comes through, at about $1,000 a month, if I already have a home paid for, I have no doubt that I would have a very enjoyable retirement if healthy, if I decided to retire to SE Asia. Just looking at one's neighbours shows how much people vary in their lifestyles. Inability to balance expenditure vs income rather than the level of income of itself, is the biggest cause of financial problems
100% agree. .. and you have much more fun. damn my kickass private health insurance (on top of italian public health insurance) cost me 900 euros per year and covers everything even cancer ... even when i m abroad.. for sure it is allways easy to spend more .. but with 2400 usd per month I live like a KING in italy so no need to go to Thailand ahah I think he confuses, how much you need to live in thailand with the importance of saving for your retirement
I live on a island in the Philippines. Rent a very nice three bedroom house two minutes walk to the beach. I support four of us on 1200 dollars a month. This man is crazy!!
@@kingrobert1st Seriously man? Where exactly you live and how is the life there? I am ok with $1000 also. What I have saved should last me at least a decade. Who cares what happens after that...
I have saved even more than that....I moved to a developing country with a flat 10% tax rate and very low cost of living.....however, I am well qualified specialist, so I was still paid a western salary. This meant I was able to save 85% of my salary and live on just 15%....it is not so difficult to do this - the Middle East has hundreds of thousands of working ex-pats in all kinds of industries making great money and paying 0% tax.
My friend of 15 years has lived in Thailand for almost 4 years. He lives in a 1 bedroom Condo he rents for 420.00 a month "it's upscale" in total he spends between 1k to 1,300 a month. that includes all of his bills, gas for his motorbike, and a housekeeper that comes in twice a week to clean and do laundry. also, about 200 of that is food for his house a month. Now eating out or going to the bar is extra or getting a girl for the night lol
Its the last part you mentioned that can add up. Did your friend also move into a fully furnished place. If not, then you have to add that into settlement costs. Lastly, is he living the same type of lifestyle now as he did when he still lived in his home country.
@@robschaller9061 Very true. I continually see fantasy figures stated about how little it will cost to retire in Thailand. My estimate for living a worthwhile existence there is at least £1300 ($17,000) (53,000 Baht) per month, preferably £1,500 ($1,900) (61,000 Baht). I've seen the living standards of Cheap Charlies who live on less and it's a paltry existence.
@@robschaller9061 if it's like this Thailand is not very cheap at all, here in Spain you could retire in the south for 800€ a month whitout any problem, the health system is free and also you can get some help for the govern
2k USD is 60,000b a month. This amount is below the requirements for even a retirement visa. I am talking about retirement, travel, eating out, doing the things you will want to do once retired. Not just existing.
@@rossinrayong632 There are plenty of things to do in retirement that don't cost much money, or any money. Read, exercise, swim, online learning, relaxing on a beach, learn a language. Sure, travel every now and then, but even that can be done cheaply in SE Asia with all the budget airlines around today.
@@rossinrayong632 Marriage visa requirement is 45,000 baht a month or 400,000 in a Thai bank, under the man's name only, for 2 months prior to visa renewal. My Thai wife and I live in Hua Hin on $2000 a month and we're very comfortable.
lol I’m 25 been living in since I was 22, I live in a nice condo over looking the ocean I play video games all day and go to bars on the weekend my monthly income is only 1600 🤷♂️ i live like a god I don’t know where his money going them thai wife’s can do that to you 😅
That's cool, enjoy it, but don't forget to start building some nestegg for later, Doesn't need to be now, but you don't want to wake up with 55 with no penny to your name.
This guy living a good life in a $2,600 in Thailand. He doesn't what talking about. The average Thai people make 15k Thai and they do just fine. With 2,600 i can do just fine in 🇺🇸. With $2,600 you live a good life in Thailand.
It’s nothing like that much I lived here 18 years it bad at the moment but Thai money is strong right now. $1000 per month is still easily doable for rent bills food transportation only problem is med bills if needed so keep insurance. Loads of places for free food or really cheap street food
Monte that’s what I was thinking. Also, there is so much to do in the US also. I think we take that for granted. Same thing here, you can live simple or extravagant. We take many day trips and weekend trips for not much at all. Groceries at Aldi’s are dirt cheap. I’m not buying into this move to another country thing. I mean it’s cool, but I’m not getting the point. When my hoodie is paid off, $2000 a month here is going to be way way plenty and will be living high quality life. I have broke the numbers down here and there’s not much difference. In fact if you get your house paid off, it’s a piece of cake.
Well now I'm stuck on Hawaii, US. I've bought my house in Bangkok, Thailand paid full in cash when I was 25. As a dual citizen I was planning to work for a US state job until I'm retired at 62 so probably around 2055. I went back to college for trade school to get some training but right after I finished the course, COVID-19 happened and ruined everything now I couldn't even get the job!
it depends on your lifestyle. I am 42 and live in Cambodia on 1400 a month My apartment costs 400.oo a month and unless i go on a shopping spree i spend at the most 200 on groceries, and trips. In normal times I will either work in China or at a local school if i have a local girlfriend. I do not go clubbing, drinking or hire sreycouches. I spend most of time at home playing pc games such as minecraft or total war. i prefer homecooked food and eat local or Chinese food when i go out. I try to shop at Chinese business at much as possible as i know they operate at very low profit margins so will likely be cheaper. i picked up alot of habits from the Chinese when I was working in China. Such as drinking pasta water , drinking hot water, and making everything so it can be eaten with chopsticks. I also like to shop at the local market so i can practice the local language.
I'm glad I'm a minimalist with no family and cheap taste. My costs are like 1/3 of the example amounts he listed. Still, good presentation and helpful video for the right people.
I’m in Las Vegas for work and my Uber driver casually mentions that he want to retire to Thailand. I told him to watch this video and to subscribe to the channel. Small world guys!
I live in America in a two hundred thousand dollar home paid for. Myself wife and two kids can life on 2500 per month. No way would I pay that much living in a place like Thailand.
Not sure how someone spends 2400 in thailand but I suppose collecting things and having the best house/condo is way behind me. I live well in the U.S. for 1400, rural US sure but always go out to local event hang out with friends etc... my vacation in Thailand for 6 months 'budget' was 1600 cant even imagine spending more I did not even think about money was doing everything I wanted and only managed to spend 1600... /shrug But i do agree with the 500k mark but not because you need that much now its for future inflation a real concern when retiring almost 30 years early like I will soon.
@@xomox5316 he gave you a rather simple formula. Essentially take 60% of what you live on in the US to get your Thai number so I would imagine everyone would have a different number. Really depends on what kind of lifestyle you want.
I live nicely in a gated compound in Guatemala for $600 a month... food $200...Rent $250. Misc $150. I have friends that have traveled the world for 20 years, they report that amount is typical for Thailand as well. It sure is not anything close to $2,500/mo...
I am Thai, but have studied in the US for my Bachelors Degree in Lexington Kentucky. My 1 bedroom studio alone, on the outskirts of that small city, with a bit scary neighbors costed me USD275/month in 1992. My electricity bill was USD85 and water a fraction of that. I had a heat pump service in my room for cooling and heating. Food was mostly supermarket purchased at around USD60-70/week. Gas for my car was around USD50/week for a Chevrolet Cavalier. That would leave USD1,660 left from an income of USD2,500/month. With this amount of money I do not believe I would be able to live in a major city in the US today (2019). The main reason is the cost of rental today would be a lot higher and I suppose gas would be more than the USD1.95/gallon I was paying back in 1992. But I do believe in a fairly rural area (possibly more than in Lexington Kentucky), it would be possible to live in the US today, but not terribly comfortably. However, to live in the largest city in Thailand, namely Bangkok, today would require no more than USD1,000/month for one person to live relatively comfortably (eating out in restaurants, beers in bar, water parks, shopping included) if you do not finance car or real estate. This is to me a very realistic picture in 2019.
As do i besides it is a great way to save money and to see where you might be over spending on something you do not really need if you are on a limited budget.
I’ll just stay in the USA....I ran the numbers and I can live the same here as there really. I shop at Aldi’s for food, eat great....3 years house will be paid for. House insurance car insurance property taxes power bill water cell phone internet is all about $800 month, add about $400 for groceries. Had Medical and spending jacks it up another $800 and $2000 give me a very good lifestyle in the USA. Over that is just more spending. So, unless I just wanted to go there for someone, I don’t see the point in going. I’ll retire here. But many blessings to those who venture out for whatever reasons they have.
There are parts of America that will be way less expensive than Thailand. They are usually not near oceans, waterfalls, jungles or other scenic things to see and do. I know the mountains of Kentucky and West Virginia are very low cost. But places like Los Angeles, New York, Chicago, San Francisco, Washington DC, Miami will be 4 to 5 times higher than Kentucky or West Virginia. Part of the appeal of Thailand is the warm weather, culture and different life style. Congrats on getting your home paid for. Not having a mortgage is very liberating.
It really depends on where you are in the states. 4k/mo in south florida, new York, or Cali, doesn't need "60%" in Thailand, more like 35% Likewise, if you live in a cheap state, your gonna need to keep a greater% of your income moving over.
Would have been beneficial if you would have broken down monthly cost. Rent Utilities Food Transportation Medical Etc Most of us don’t have 20 yrs left .
I just happened to watch your video (I know it's from 2019), and have to admit that your budget surprised me - a lot. How it is possible to inform that it demands 2400 $ (estimated 75.000 THB). to live in Thailand - monthly?? I live there with my wife, and we manage to spend about 28.000 THB (900 $). We don't miss food or TV or Internet etc. - and we feel comfortable - but not luxurious of course. Your numbers are simply out of proportion. Just my comment.
I would much prefer to hear from you as i live a non lavish life with my thai wife in ireland. We will move to Thailand with the same thinking. His figures are crazy. I know medical can be an issue when a certain age, but no expensive car or restaurants. Its retirement not the lottery.
I’m with you. I think 75,000 baht/mo is way over the top to live in TH. Maybe he’s talking about living in some nice condos in BKK. And, if that’s the case then maybe so. But, average working class Thais can live off of about 20~25K baht/mo comfortably. So I would think if you don’t live a lavish life style you can totally put some money away each month living under 30K baht/mo.
You missed the entire point of the vid... he is saying if your retirement lifestyle is 4,000 a month, to have the same lifestyle in Thailand you are going to need about 60%
My grandpa is retired and he earns 8000€ monthly. He just use 2500€ monthly for every expenses in Thailand and the rest will be deposited in the bank while he gives me 700€ monthly...
$2400/mo sounds about right for a family with kids, but a single expat can easily get by on half that. Aside from setup costs, you may want to budget for a trip home once a year (as many do) plus an emergency fund of 6-12 months of expenses, this is all the more critical if living in a developing nation. As far as how much you need to have invested, just take the annual spend and divide by 4%, so $24k per year needs $600k invested using a 4% safe withdrawal rate (95% chance of not running of money even after 30 years - made famous by William Bengen)
$2400 a month isn't so much anymore. Mostly anything imported into Thailand costs more than imported things into USA or Canada I noticed especially foods and alcohol. You can live on less than 2000 a month but you need to eat Thai food far more often. Need to keep visa costs and medical insurance in mind too. It adds up so fast.
i am a local living in Surat Thani as a student in college here are my required costs per month 1. Housing, i am living in an apartment 1300 Baht a month, there are wider price ranges depends on your interest but a house is around 5000 baht a month with 2 bedrooms and 1 toilet on regular. 2. Food, i spent around 100 $ buying the entire month if you cook your own you can make it around 50$ which is very cheap for foreginer 3. Transportation, typical scooter to buy is around 50K baht ( 1600 ish $ ) but it's only once. if you are on a budget 150-200 $ per month is enough exc. visa living cost here is very low 1000$+ is premium and luxurious, maybe try living in suburbans
When I was in college I also had a much smaller budget, but once I grew up and wanted more than the housing I had, I realized I needed to earn more money
The dollar figures seems a little inflated, but I assume that the percentage of the budget (60%) is accurate. So as an American, if you are used to $4000/mo., then plan on needing $2400/mo. In Thailand. If you are used to $2000/mo. in America, then you would need only $1200/mo. ($2000 x 60%) in Thailand to live the same lifestyle.
I've not been but as Jeremy is always saying the cost on Thailand is no longer the cheap option it once was, Take heed of those figures or become a beggar on the streets of Thailand being deported.
This is actually not going to be true! (I have a finance degree) The reason it's not true is because you have different kinds of expenses. Some are discretionary (optional like eating at cheap or expensive restaurants) and some are not (health insurance will be the same each month). Some will be fixed (same rent each month) and some will be variable (more air conditioning in the hotter months). If you rent a small studio in Iowa now or you rent a 5 bedroom home in San Francisco, the rentals for those equivalents in Thailand is not always going to be 60% (or whatever %) of the USA rentals. You simply can't just use some given % to determine the equivalend cost between two countries at both a high level of living and a low level of living. It should only be used to get a rough idea of the equivalent cost.
you didn't calculate the most important part......"medical expenses" to include hospital stays, prescription drugs, doctor visits, and etc relative to "medical expenses"
Generic advice, applies to just about any retirement. Having traveled to Thailand (a few times) you will see a good number of expats and it’s simply because the quality of life can be better than that of home country... the cost of living is more affordable. When I’m 65 would I consider Thailand? Family can change your plans quick. Do you want to be around grandchildren? Are family holidays/get together’s a big deal to you? Those are the questions that need to be answered. Thailand is cheaper.. no question , but....
It’s a good idea to live in Thailand 🇹🇭 6 months per year then get a 3 months visa you can get cheap accommodation on the east side of Pattaya or chaing Mia for 4500 thai baht per month you can get a 6 month visa from the states uk 🇬🇧 Canada 🇨🇦 Australia 🇦🇺 then you can get a 90 day one before it finishes
Ross seems to live a nice life for that budget, I honestly thought it would be a bit higher. I like watching the videos where it’s not how cheap you can get by on but more this is my lifestyle and this is what it cost me, I watched a livestream last night of someone who’s budget was closer to 6k usd, but that was with 2 children in a good school a nanny and living in a very nice place. As you know from personal experience you can live cheaper than Ross but that is not for everyone, no more than Ross’s budget is for everyone. Thanks to you both for sharing. Keep Doing More Life 😎
While you can live in a small room and eat for less than $5 a day, is that how you want to spend the rest of your life. What about travel? Other things like cleaning supplies for both the house and personal. Power, water, cell phone, internet and other things you use everyday other than housing and food. Add it all up and a single guy with no vices for alcohol, tobacco or dating and you can live under 40,000 b a month, but is that the kind of life you want when you retire. Bag food and a lonely room? No thank you.
I think another option is live in luxury hotels or apartments with free travel visa for $300 USD per month, make a trip to Cambodia for free 1 month visa there every 28 days have 2 places to call home no visa issues very very cheap monthly
Even financial experts will say to take it at 62, nobody is promised tomorrow and if you die it all goes back into the s.s. pool. They also say it would take about 14 years or so just to make up the difference from 62 to 67 so unless you know for a fact that you will be living into your 80's or 90's by all means take it at 67.
Many in America working until sixty five are lucky if they get $1,500 a month from Social Security. They can barely afford to even pay their rent. Does the average Joe in America have $4,000 a month to live on? I am not saying your figures are wrong perhaps for your lifestyle but does the average person really spend that much? I totally agree with you about a budget. i have been keeping one for over forty years. I write down every penny or baht and where it goes everyday. I have a daily column for food , miscellaneous items and total. Then there is rent, power, wi-fi, water and fuel. It is not the money coming in that matters its what you spend. In Thailand for two i live on a budget of between $400 to $650 a month. And this includes travel, hotels, eating , visas and everything. And no i do not live in a broken down wooden shack with no running water and power eating dried noodles three times a day. I have been living on this budget in Thailand going on twenty years. I do not think happiness or living well has anything much to do with the amount you spend. Your thoughts.
You’re missing his point James. I know that you want everyone to know that you can live here very inexpensive. Some of like to go out and have a life. This is a baseline for that.
@@JeremyClodfelter That is what i am asking ? Just would like to see a breakdown on the different expenses for spending that much. I think that would be helpful so others on various budgets can understand. Maybe i misunderstood Ross but he made it sound like everyone needed that much a month to live comfortably .
Yes you misunderstood him. No worries. Go back and watch it again, and listen carefully to what he says. The point of the video is not that an expat needs $2,400/month to live on. You have to look at all his variables. All you heard was the monthly income, and your defense system kicked in. Listen to what he is saying....please
budgeting is the most important thing for whatever u want to do. But there are many things to consider: where are you gonna retire, the lifestyle u want to have and many other things
He must be living next door to the kings palace!!! I was there off and on for 4 years. I didn't spend anywhere near his figures. There Is one point he touched on, I found correct. I do not know how many westerners I met there, that really had nothing and were on the bones of ass. I never seen so many bone poor westerners in life. Some didn't even have 25.000 baht in the bank, they were staggering down the streets aged 80.... with nothing. It struck me as a beggars paradise. I would not like to go broke thier, because as much as it is the land of smiles))) there Is nobody running to your aide if you go bust.
If you are getting $2000 per month and inflation is 5% per year, in 20 years it will only be worth $833. In 40 years it will be worth about $350. Inflation could be much higher than 5% in the future. If your payments are indexed to inflation, the government lies about the inflation rate so your increase will still be lower than the actual rate. You can hedge against this effect by saving part of your income and investing it to create future income, buying vs. renting, and buying gold/silver to preserve your purchasing power.
I think growth/inflation is maybe 2% overall and banks now payng 1.5% in Thailand for fixed deposit. Looks like there are UK investments paying 7% but it scares me as does the lease back option here in Thailand that pays 10%. It's basically a gamble on Ponzi for the first 10 years. I was also approached by a Hong Kong group but their figures were definitely Ponzi, ie they claimed borrowed money as huge profit. I still have the brochure. I'm content with a financial cushion and reasonable hobbies. If I find a wife I want to publish my book and maybe then get a big gain. Meanwhile I'm having too much fun and am to lazy to do more life than I do, hahahahah.
I’m hoping I can retire at 55. I’m saving a bunch. I hate the heat and humid tho lol I my plan now is to get a travel trailer and just move around the U.S. to hike, ride my motorcycle. By the time I’m 55. I’ll have my house paid off, 100k in a Roth, 300k in my pension. I think I can live on the paid off house’s rental income alone.
Very informative video, many farangs underestimate the cost of retirement, it is way cheaper than retiring in the U.S. but it is still a big amount of money to be available to sustain a decent life style.
You need to redo your math. If you have $1,000,000 you can purchase a retirement annuity that will pay you $7,000 a month of more. Or you can keep it in a mix of stocks and bonds and earn $60,000 a year. Other options. You don't take your expenses and multiply it by 20 years and use that. It's simple wrong., NPV. Secondly, a retirement requires 800,000 OF NEW MONEY in your account EVERY YEAR.
I lived in khon kaen for ages and try as I could, I could not spend $570 USD a month ( I'm talking recently too ) and I went without nothing )) This guys figures.... are off with the fairies! Provincial areas where I live the Thais are lucky to earn $240 to $285 a month, yet they are living ok and 80% of them are driving under 5 year old cars! Something wrong with this guys maths! Either that or he has a Thai wife, wanting 30k baht of gold splashed onto her everyweek lol lol
Actually, if you golf, a lot of Thai courses are resort style, and can set you back $100 a round, though lesser courses can be $40-$50 for 18 holes. If you like the nightlife, alcohol, girls, etc, you can easily spend $4k a month
Is this cost for just you or is there a women in the picture. I have lived there quite comfortably for 1200usd a month ( nice apartment ,wi-fi, utility bills, and motorbike rental ) plus going out for the odd drink.
You're so lost! LOL! This is a video about retirement, not monthly income. The monthly income is whats left over from an exhausted pension, divided by 20 years.
I hate the word retirement or living somewhere. I like say at this moment of my life I am staying here or there. Never to long in one spot. Stay moving. Change. Be diversified in life. So retirement or living somewhere will never be a part of my vocabulary
I dont understand this video and its point. Is it being suggested that one should trade in a good quality of life for a poor quality of life for a 40% savings? I dont get it. $4000 a month in the US affords you quite a bit in a lot of parts of the country, and Im not talking living way out in the sticks. Although that too is an option for people looking to get away from other people.
Andy, yes, i am sure you are correct because that is the case also here in the USA. However, many people want to live in the tropics. Around nice people. Nice weather, white sand beaches, amazing places to SCUBA. travel cheaply. Once in SE Asia flights are cheap. I've bought R/T tickets from Philippines to Malaysia for $40. Agreed you may choose to live in Spain and travel around the Mediterranean rim, and yes, that's also nice. But that will cost more.
first time i went to Thailand it was 71 baht to £1, the last time i went it was 52 baht to a £1. Looks like i wont ever be going back if the exchange rate has gotten that bad.
4 grand a month amazing. If you get a monthly pension of£ 600-£1000 per month you can live in Thailand quite comfortably. The biggest outlay is leaving 800k baht in the bank to cover the retirement visa condos to buy in Pattaya start from under a million baht to buy and apartments to rent start at around 6000baht a month. If you can afford it buy a condo or house and retire here even with a poor exchange rate it's miles better than miserable rain soaked smack head infested blighty .
I live in NYC. I pay $3000 between the two of us. That includes, car payments, insurance, rent, and food. If you paying that much to live in Thailand, I hope you getting Thai punani all day
$4000.00 per month !!!???? that's crazy too much! I am living in America for less then that. Also it depends on whether you own a home there or not, if you take care of the family and if you go out to bars every night. You can live on SO MUCH less then that even now as real-estate has gone up so much over the last 15 years. I give my girl 20,000 baht every month for our home in Udon and when I am there I need only about 10,000 for myself. we then pay 35,000 baht a year for an extra condo in Koh Samui and some more for emergencies and travel. you and your girl can live for 45,000 baht easily once you own your own home. at 32:1 do the math.
But you are not a Thai person. Honestly there are many things that cost more in Thailand than back home. If you eat Thai food and drink Thai beer it will be cheap but it will get very boring after awhile and they tend to have very small portions.
With 4.000$ a month you will live like a poor, minimum is 15.000$ a month and thats for a remote village around Chiang Mai, if you want to live in Bangkok, you need at least 50.000$ a month.
I watched this video again, the figures he shows are for his expenses/lifestyle so everybody's will be totally different. It all boils down to a persons comfort zone/needs in life. There are so many variables to this topic.......do you chase women, do you drink every day, do you eat at expensive restaurants, travel throughout the month, high end condo living? There will be a HUGE difference in cost especially if it's compared to someone who comes over here that doesn't drink, doesn't chase women but happily married but chooses to live a more simple lifestyle. This next part is about the residual income one has coming in, is it a savings account/trust fund, investment, some sort of pension? This is the kicker, for example: If you are 50 do you have enough income coming in to sustain your lifestyle here for at least 30 years or at the least to the age to draw social security? If you can answer yes then congratulations on working hard for your future. If the answer is no, stay were you are and save, save, save.........you do not want to become destitute in a foreign country!
Easier and more, 2 cars, kids, dogs, insurance, a wife, travel, other things. Just last week I spent 9000 baht for new internet router and cell phone because both died in same day. Next month will spend 10,000 baht on car and truck maintenance. I also do not want to live where I have to count every bhat I spend. At my current burn rate, plus money still coming in, I will have to live to be over 100 to run out of money. Or the exchange rate were to fall into the low 20's. Then that would be a problem
With all due respect, I think bigger windows just let in more hot air. If it's hot outside which is mostly the case, you're talking hot inside your house unless aircon is running. Plus I'd recommend screens on those windows unless you like flies and mosies.
Big windows, make for big air movement. Large roof overhangs and a north south house prevent direct sunlight and heat from staying in. Of course there are screens on the windows. Would be silly not to.
Always have a plan B you never know what will happen in the future. The figures in this video are for the current situation no one knows what will happen next year, even less what happens in 5 or 10 years time.
£409pm. Live a great life on my military pension. Married and now using a retirement visa. Keep my daughter in college, built my house years ago. We all have wheels, I love a beer and I still save 3,000-5000 baht per month. I am no cheap Charlie. I have no reason to line others pockets. I also rent a wooden Thai style house in a resort. No aircon this is the new life why sit in doors sniffing cool air. There is no true cost to happiness. Pointless videos about buying pizzas and living the life you left behind. Go native, enjoy retirement.
We never had AC in the USA, but find we sleep much better with it now. In the cooler months I run the fans. Most people including myself, still want to live a life style we are accustomed to. We still do family Sunday dinners at a restaurant. 2 adult kids, 1 young child, 2 grand kids and usually one or 2 inlaws join us. Even then its less than $40 for everyone to walk away stuffed
Answer: "Effed if I know. What am I - the answer man?" No seriously, this was a good video. It was helpful to show us your numbers on paper cause us guys are visual. BTW a thai girl might think it's Christmas every day, but let her know it's not. Ask her what her contribution will be and she will change the subject pronto
I don't know about the Thai women thing, my wife works 7 days a week busting her ass at her business. She does not have to work. She chooses to work and be a contributor to our family. Even my daughter works and pays her own way while still under our roof. There are many fine, wife quality women her. But I doubt you will find many in any P4P area. Look for quality women who are working good jobs. Jobs requiring an education or advanced training. Most will speak English but will be much more selective on who they will date. No one whats to fall in love to someone who will be gone as soon as their tourist visa runs out.
Great stocks and I just bought in on them, but I'm interested in making short term profit, let say turn a $150K to $500k in 6months, I'd appreciate tips on how what stocks to buy to make this much profit.
You clearly do not take advantage of the entertainment. I could easily go through $2,500 in a week in Sukhumvit. I wouldn't, but it would not take a great deal of effort.
it is a question of where and 'how' do you life in Thailand - if you living in the Northeastern part of the country - you can easy life on 1000 USD a month - and you can live pretty good! We are 5 people (mother, father and 3 kids) - living on this 30.000 THB budget and have everything some need (of course house and motorbikes and the car are already paid for) - so there is only the costs for electricity, Internet, water, petrol, and food and even shopping clothes, shoes, even travel,...whatever... - with 2.500 USD you can live like a king! - but as mentioned - it is a question of your location in the country, and if you have to pay a monthly rental fee, etc...
you can live good in thailand or cambodia or the filippines for 900$ a month, you need 65000 bath a month(800000 a year) as a single guy but if you stay on a married visa you only need 40000 bath a month i live already 7 years in cambodia wich is more expencive then thailand
Some of these people have a point - I'd appreciate you explaining why if you dont mind? Why is it so expensive to live there? You could literally just retire in USA for that amount of money comfortably. I thought part of the allure of living in Thailand is the great price reduction on cost of living? Thanks.
If you want to live Thai style, a small house, little to no furniture, sleeping mat, fan, cold water shower or bucket shower, you can live for much less. Using JC as example, he clears maybe a bit over 40k baht a month. He travels very little, does not drink or smoke and is able to save just a very small amount each month. We can do that in the USA. The allure of Living in Thailand, for about $3000 a month you can live a upper middle class lifestyle as a single guy, Travel once a month, enjoy some nightlife and possible dating. Its the freedom you feel here. Once you get out of the city, life is very relaxed. The weather is about the same year round. Food and housing cost much less than than your home country. But once you start adding power, Cell phone, internet, and not living in a hotel you will then understand all the other costs you don't think about. things like laundry if you don't own a machine, toiletries, and travel can all add up.
Costs maybe $300 for housing and food for a month in Chiang Mai., a suburb of Thailand. $600 flight $2400 for housing for an entire year $360 for food $400 for visas $3860 cost to get there, housing, food and visas for an entire year. Does not include phone service or unexpected costs. Compared to the lower end of rent in America Rent: $500 x 12 = $6000 Bills: $200 x 12 = $2400 Total: $8400 Food: $250 x 12 = $3000 Transportation: $50 x 12 = $600 Total: $12,000 Based off $11 an hour full time one would make: $18,624 One would be able to save less than $6,624 a year. Living in thailand is 3x more cost efficient than living in America. This isn't meant to be compared with, for example, buying a $5,000 RV and saving up a big chunk of money for a year. This is meant to compare the costs of living in a similar rental unit in two different countries with the same currency. The rent presented in America is significantly lower than most places. For example, I live in Florida. The minimum for a 1b 1ba is $1,000 a month, not including bills. But generally you can get lower rent prices if you're willing to commute further distances. And $500 a month is quite literally the cheapest you'll get in America. But taking into account the neighborhood, crime, etc it may not be all that worth it. So maybe spend your hard earned money in Thailand instead? I mean.. $11 hr is equivalent to $33 an hr in Thailand.
After building our home, I have no rent, or even property tax. So a small 1 time investment will pay off for years to come. Glad you get what I was attempting to explain. For me, the bottom line, if you can not afford the required 800K to sit in a bank, you are never ready to retire. Less than 30k saving will never last you the rest of your life. You need investments, multiple revenue streams, and a lifestyle where material things are the last items you want to spend money on.
I saved, invested, and have financial interests that pay me into perpetuity. I have monthly commissions from work done years ago that still comes in every month.
If it was just 1 mouth sure, but I have 4 mouths to feed, plus a lot of dogs. If I am not mistaken, I have see your billboard for your youtube channel on a shop house on side street just down from the 7-11 and Pizza Hut in Ban Pea. We have different lifestyles.
Great video. Very clearly explained. I also thought it was more realistic than 90% of the other budget videos out there. Yes, it’s clear that you can live for less than that if you want to. But it’s also clear that if you go in expecting this budget, you’re far less likely to get a horrible surprise down the road.
Good video, If the cost of living is $2400 per month, or $28800 per year, you need to have $720k. That gives you a 4% withdrawal rate, assumes inflation of 3% and allows you to increase your budget by that 3% each year without running out of money. Simply dividing the nest egg by months and years will run out out of money as costs rise, especially if the money is only earning a 1% in a bank account.
Here in Germany there are people living on 1000€ and less. I will retire to Thailand in about 2 years. I have already rented a condo in Nonthaburi: new, I am the first tennant, security, gym, pool, small but very comfortable, 23 square meters = 250 square feet, about 5000 THB per month including communal fees. And I although I will have to continue my health insurance in Germany (about 500€ per month) I know that I can easily live in Thailand on 1300€, which includes the above mentioned costs for my insurance and my condo. I have already tried it out, I know what I am talking about.
Another comment I would add... You said that you're waiting until 68 to collect social security. That actually may not be the best way to go. There is a common misconception that it is best to wait until "full retirement" or later to collect social security because the check amount will be greater. That thinking is ONLY valid in situations where you plan to continue working until full retirement age AND you are married AND you expect to live a very long life AND you are living in a higher cost-of-living. If any of those are not true and you are living in a low cost-of-living place like Thailand or the Philippines, the exact opposite is true. This is because collecting social security at a minimum age (62, in my case) allows you to keep more of your retirement savings in the bank to continue earning interest. I have spreadsheeted these scenarios (I have an accounting degree) and reviewed it with financial advisors. They all agree that collecting early in my case is better than waiting. I will move to the Philippines in a few months. If I wait until 67 to collect social security, for example, I will practically empty my retirement savings within 10 years because I'm living off of that money until then. If I collect at 62, however, my retirement savings will work for me and double within 10 years at just a 2% interest rate! Most advisors feel that a 6% to 8% interest rate is more realistic. Everyone's situation is going to be different. However, I would strongly recommend anyone to spreadsheet the different scenarios to ensure that you are getting the most financial benefit!
Agree, why to wait for so long? the life is too short, beside at that age most mens have erectile dysfunction and is not good idea to go Pataya better stay in home
Some people have a lot in tax favored accounts like IRA and 401k. For those people it can be better to wait longer and do something called Roth conversions to save money on taxes. Once those people hit 70 they are forced to take specific percentages out (required minimum distributions) which can drive up the tax on their social security payments by a lot. It would be financially unwise for me to start social security before 70 (and I have an accounting degree, a very old one!)
I think if you can get up the 800,000 baht and have health insurance if required ( I'm 70 and feel fine so forgoing same) and have 5-600 a month USD I can retire here and "live like a king." I found a cheap grimy development outside Bangkok and am doing just that although I have $1131 a month and about 1/4 million USD in bank. I had a windfall profit on my house in California. I never labored just to be super rich. It's too stressful. My overall investments already done here are between 1 and 1.5 million baht with 2 vintage cars, 4 motorcycles and 7 bicycles and 3 cheap-o condos at 30 meters sq each plus a bunch of model supplies. My biggest downside is some legal problems with my first condo and car. Twas a family business and monkey business too. I should have consulted a lawyer. However I am still hoping for a happy ending as I have kept my friends and kept cool. I have cheap hobbies like plastic models and RC gliders and biking and beach walking. I think I'll travel more in the future as I think Thai people and culture are the most interesting in the whole world. I don't compare myself to others and that makes me pretty content in all circumstances. If I want a mega yacht I'll just build a model of it, ahhahahah. I"ve met a lot of women and some of them really really beautiful. Right now I"m avoiding the bar scene and going to culture things and pool parties. I hope to marry a beautiful woman and have a baby too in spite of my age. The Monk Luang Phor Supah, his Wat is on Phuket Island, lived 118 years and that is my goal too. Long live the King and thank you all my friends. Amen.
I believe the gentleman was sincere and what he believes and whether or not the numbers are right or wrong you know it's I guess it's the choices that we all make with what we do and how we do it I think he was kind of helpful he's giving you a perspective based on his opinion nothing wrong with that in America we call it a consultant and we pay people for this