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Study reveals how much money you need to retire in Thailand


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Do you ever think of reading the article before you post sirineou.......all those questions are answered.

Darn, 10.9m baht short. 

No, but I will from now on. Please dont tell my mom🥴

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5 minutes ago, overherebc said:

No mention of 'if you fall down the stairs and break a bone or two'.  What does that cost in the various countries.  Only one I can quote is UK where it costs nothing.

After 14 years are they assuming you're gone so won't need insurance?

 

 

Where in the OP does it mention that the cost of living doesn't include health insurance?

 

Anyone with a conscience would know he needs health insurance, and guess what, then those broken bones would cost you as little as in the UK.

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2 hours ago, BritManToo said:

Alternative view,

When I came here alone age 50, I lived on 60k/month ......

At age 60, the 4 of us live on 40k/month ........

In the future age 70, when the kids pay it back, I'm expecting to live on 20k/month ........

If you can live long enough, it will eventually be free...

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13 hours ago, snoop1130 said:

This was determined as going out once a week, takeout coffee once a week, no smoking, moderate drinking, no taxis or rideshares, eating mainly Western food at home, two vacations and renting a 1 bed apartment in a city centre, among other factors.

 

Wow.... high rolling!   Sounds miserable 😞

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2 minutes ago, HashBrownHarry said:

depending on what year he came and EX rate at the time you're looking in excess of 200M ++.

 

incredible!

The ones I don't understand, and there are a few, are the 30 to mid 40 year old ones scratching a living ( usually teaching ) who have nothing saved in their own country etc and seem to think it will go on forever.

When working in the UK i was told by a few that I was being stupid to pay into 2 private pension companies, one that started paying at 60 and one at 65. In addition to my gov' pension and a few mil' baht in savings I'm not too worried. I might make another 5/10 years but they will be comfortable ( I hope 😆 ).

No kids or extended family to look after, never saw the point of those.

The only annoyance is this chinese flu that screwed up the annual long holidays but hopefully that will go away soon.

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     Articles like these are all misleading because they don't take into account that many people have company pensions, Social Security, or other type country/state pensions.   From the outset it should state that 11 million baht is what you might need if you have no other income coming in on a regular basis.  In reality, if you have a pension, you would not need 11 million baht; you would only need savings of 800,000 baht in the bank for Immigration and you could live simply on some pensions in Thailand.  I certainly did not have 11 million baht when I retired to Thailand.

     Average SS is around $1500 a month or about 45,000 baht.  These days you can rent small condos for 4000 baht a month in projects with very nice amenities like pools, sky lounges with free internet, and gyms.   Add another 1000 baht for utilities and that leaves you 40,000 baht a month to live on.  Yes, it would be a simple life but, if those are your resources, a life possibly better than what you might have in your home country.  

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20 minutes ago, Susco said:

 

Where in the OP does it mention that the cost of living doesn't include health insurance?

 

Anyone with a conscience would know he needs health insurance, and guess what, then those broken bones would cost you as little as in the UK.

Don't get so serious.  It doesn't actually state 'This figure includes the cost of health insurance in the various contries'

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4 minutes ago, Henryford said:

 

My father lived until he was 90 but spent the last 12 years ga ga in a nursing home. You shouldn't count on much quality life after 75.

my parents had a similar story.. but this is an interesting subject for another thread... We all know people living interesting lives and still have their marbles into their 90s, but what %%...  my father was a brilliant man and after 80 he had decreased capacity for many cognitive functions, more so every year... he never did forget that he was brilliant or wanted to be in charge of his finances... 

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14 hours ago, sirineou said:

What does  $389,835 Mean ?

Is that to retire for the rest of your life?  at what age?  and  how many years would that last you. ?

 

That's for 14 years after retirement at 64. Clearly a meaningless study...

Edited by SymS
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14 hours ago, ThailandRyan said:

So if all one happens to have a lifetime Pension that pays a tidy sum  monthly and has nothing in savings then they are not able to retire in Thailand, or other countries, is that the gist of the article?  Or lets see, only having a savings of 1 million USD, but no pension, then they can afford to retire in Thailand as well as elsewhere?  So confused.  Everyone's life style is different and what one wants to buy and eat for their meals, and just like where they choose to live differs, Each individual should learn to live within their means.  I know a few who live in Thailand on just their SS from the US and they are happy as can be.  I also know a few who can afford to live the hi-life and do so but are not happy because they do not have enough in their view.  We all made our beds a long time ago and you either enjoy what you have or you don't, no use crying over spilled milk.

It's a pandemic, little other news so people make it up with useless studies.

They should put their time to better use.

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Eating mainly Western food and renting a 1 bedroom apartment in a city centre? How sad is that?  Not what I would call a 'comfortable' retirement.

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13 hours ago, BritManToo said:

That works out at 70,000bht/month.

I'm living a much higher lifestyle than back in the UK, as a family of four, on 40,000bht/month.

If I was living alone that would reduce to between 20,000-25,000bht/month.

 

I guess they were basing their figures on people living in Bangkok.

Surprised they list Cambodia and the Philippines as more expensive.

I thought the article said the Philippines was cheaper and Cambodia on a par with Thailand.

I found both of those surprising certainly Cambodia.

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14 hours ago, bolt said:

At first it may seem high, but its a reasonable amount for 14 years, it works out approx. 70K Thb per month

but 14 years seem a bit short for me.

14 years would be 65 - 79 years old,  79 being around the average life expectancy for farangs. Many farangs in Thailand retire way before 65.

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15 hours ago, bigupandchill said:

So I can retire to a proper country (Portugal) for only 40k more than here?

 

This is a genuine question, not a criticism. Why do you stay here when you feel this away about the country you chose to retire to?

 

Retirement should be about freedom, not being shackled to any one location. When I feel like that about here or any other place I live, thats me done and I'm upping sticks and I'll be gone. I'm curious to know why folk like you don't do that? Life's not a dress rehearsal is it?

Edited by Yewbzee
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14 hours ago, bolt said:

At first it may seem high, but its a reasonable amount for 14 years, it works out approx. 70K Thb per month

but 14 years seem a bit short for me.

Same here, except for some  cousins who were into the drug lifestyle and died in early 70's or even younger  my family seems to live long. Father died at 95  his mom at 102. My mom at 92 her sisters/brothers all in mid 90's. I have some 1st cousins in their 80's ---90's now. All in  shape, eat healthy. We have a history of high blood pressure and heart attacks  but seem to live well untill in 90's then drop dead. That's how I wan't to go.  🙂

 

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14 hours ago, sirineou said:

What does  $389,835 Mean ?

Is that to retire for the rest of your life?  at what age?  and  how many years would that last you. ?

 

The amount required and how they reached such a figure was explained in the article.

 

How realistic or accurate it may be is, of course, debatable.

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Looks accurate to me.  Unfortunately, I spend a bit more per month.  So just bring that Baht down, say 10% and we’ll all live large.

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Well thats all about people wanting to retire  here in Thailand for the future

Quite a few here on Thai visa reading this  have probably retired 

So have factored in their living expenses and are enjoying their retirement

 

 

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It seems like a reasonable amount considering one only lives 14 years after retirement and doesn’t have a pension.   I always favored the Philippines for retirement until they mandated a stay at home order for those over 60 during the pandemic.

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2 hours ago, olfu said:

Having bad luck with females destroy everything.

Same same with males, I guess

Edited by PGSan
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