Cost of Retirement - LOS

[kittyboy]

I am looking at my finances and thinking about retirement. I currently spend about $2500-$2700 a month in the USA. I lead a modest lifestyle. I live close to my work and I mostly read and swim for entertainment. I seldom eat out and my major expense is housing (900-1000 USD a month with electricity, internet, etc.). The rest is spent on meals, a car, misc., and my summer and winter vacations (3 months in the summer and 1 month in the winter).

I am wondering about spending patterns of the posters who are retirees in thailand. Specifically did your monthly spending increase, stay the same or decrease after retirement? The LOS can be inexpensive but there are many opportunities for spending on nights out..boys..etc.

[Nirish guy]

OHHHHH this could be interesting, this is a thread that could run and run.......especially with the wide variety of lifestyles of some members on the board perhaps

[Up2U]

Bangkok, Pattaya, Chiang Mai, or Issarn?......costs will vary widely but the Thai government requires retirement income for a foreigner of 65,000 baht per month. I live in Pattaya and easily spend more than that.

[kittyboy]

Bangkok, Pattaya, Chiang Mai, or Issarn?......costs will vary widely but the Thai government requires retirement income for a foreigner of 65,000 baht per month. I live in Pattaya and easily spend more than that.

I understand costs vary by location. If people want to share their monthly spend..great.
I understand that the minimum retirement amount is 65k baht a month.

I am interested in individuals patterns of spending.
Compared to their spending prior to retirement do they spend more or less in thailand.
Compared to their spending level prior to retirement do people spend more or less in their retirement in thailand?

[aussie_]

The LOS can be inexpensive but there are many opportunities for spending on nights out..boys..etc.

I am spending more living in Pattaya than Australia. I spend at least five nights out each week instead of one or two back in Australia. If you stay in your condo most nights, make your own food and resist the many entertainment options available you can budget for less than your home country. Rent and utilities are less expensive but in my experience so far you might find other costs are overall higher.

[Up2U]

If I were renting (I am not), my basic monthly costs would be; rent including utilities, 30000, food/beach, 30000, health insurance 10,000. Additionally, there are transportation costs (monthly car payments for me), entertainment costs(bars, boys, alcohol,travel) for some but bf costs for me. As an American, Medicare does not cover you here so you either by insurance or self-insure.

[cdnmatt]

A while back I did a thread here asking for the monthly living costs of expats. It averaged out to about 80,000 abht/month for all 4 of us that gave an itemized list of expenses.

The other three who replies (fancois, Smailes and Dodger) I believe are all retired, and lead good and comfortable lives. Then we were a bit on the high end at 85,000/month, but that was for two humans and two dogs.

[francois]

kittyboy, your budget 0f $2700 / month is adequate. I do spend more here than when I lived in home country for many reasons. One of which is the bf and the other attractions to be found in Pattaya. Best advice is not to have a regular bf and enjoy your money on irregular bfs.

[Brad the Impala]

Francois I "liked" your coining of a nice new euphemism "irregular bfs". Back to the thread topic.

[paborn]

I am looking at my finances and thinking about retirement. I currently spend about $2500-$2700 a month in the USA. I lead a modest lifestyle. I live close to my work and I mostly read and swim for entertainment. I seldom eat out and my major expense is housing (900-1000 USD a month with electricity, internet, etc.). The rest is spent on meals, a car, misc., and my summer and winter vacations (3 months in the summer and 1 month in the winter).

I am wondering about spending patterns of the posters who are retirees in thailand. Specifically did your monthly spending increase, stay the same or decrease after retirement? The LOS can be inexpensive but there are many opportunities for spending on nights out..boys..etc.
I may be misunderstanding this but if you take a 3 month summer vacation why not spenf it in Pattaya. Rent something like a Conedo, investigate real estate and see if you can approximate the lifestyle you would like in retirement. Most retirement guides recommend that you do something like this prior to retirement to make a good estimate.

[kittyboy]

I may be misunderstanding this but if you take a 3 month summer vacation why not spenf it in Pattaya. Rent something like a Conedo, investigate real estate and see if you can approximate the lifestyle you would like in retirement. Most retirement guides recommend that you do something like this prior to retirement to make a good estimate.

You do misunderstand.
Do you have any insight into the original question - Compared to at home - Do expats spend more or less when they retire in Thailand?

I have been in LOS for about 1-2 months every summer for the last few years. My average daily spending is about 3000 baht. I don't drink so most of that is on hotel, food, soft drinks at the bars and late night company - 2-3 times a week. I get a bit bored in thailand and I go out most nights for the social interactions.

Here in the US I spend most of my nights reading or working on research projects and I get my social needs met at work.
If I retired in Thailand I would no longer have the social interactions at work and I suspect I would - at first - be out most nights.

I do not wear rose colored glasses and have been to thailand so many times that I have a very good idea about what I would be getting into. I am just curious about others perspectives about how their spending habits changed..maybe as an indicator of how they keep busy.

[pong]

IMHO cost does not vary that much between Thai towns-Isan, the rural north-east part is cheapr. The main diff. is in cost of housing-and renting is very, very easy, but has its pitfalls too-like anything here in TH. You can in all those towns get simple and cheap and average or high-end places. Ditto for all other things.
The main thing is CAN you adopt to more of Asian/Thai lifestyle-this will reduce cost immensely. Simple housing, eat outdoors (streetstalls or foodcourts, etc.).
There are millions of threads-many more in specialised fora for expats, on this topic. As above; do NOT buy before trying out for at least half a year-preferably also in the wet and dead season. You may even try to change places for a while to find out. How many experience do you have by now for staying in TH?
The gaybutton forum is more aimed at Pattaya and has some old threads about this matter too.

[kittyboy]

IMHO cost does not vary that much between Thai towns-Isan, the rural north-east part is cheapr. The main diff. is in cost of housing-and renting is very, very easy, but has its pitfalls too-like anything here in TH. You can in all those towns get simple and cheap and average or high-end places. Ditto for all other things.
The main thing is CAN you adopt to more of Asian/Thai lifestyle-this will reduce cost immensely. Simple housing, eat outdoors (streetstalls or foodcourts, etc.).
There are millions of threads-many more in specialised fora for expats, on this topic. As above; do NOT buy before trying out for at least half a year-preferably also in the wet and dead season. You may even try to change places for a while to find out. How many experience do you have by now for staying in TH?
The gaybutton forum is more aimed at Pattaya and has some old threads about this matter too.

Thanks for the note.
Over the years I have been to the LOS probably 30 times.
I lived near HK for 6 years and I went to BKK and Pattaya every summer and an additional 2-3 times a year. As a result I am familiar with BKK and Pattaya.

My lifestyle when in the LOS tends towards the simple. I generally eat thai food at simple restaurants etc. Typically, I have traveled with a fellow expat and have had someone to keep my company. So I was soliciting comments from people about how their lifestyles changed upon moving to the LOS>

[kkjason]

You do misunderstand.
Do you have any insight into the original question - Compared to at home - Do expats spend more or less when they retire in Thailand?

I have been in LOS for about 1-2 months every summer for the last few years. My average daily spending is about 3000 baht. I don't drink so most of that is on hotel, food, soft drinks at the bars and late night company - 2-3 times a week. I get a bit bored in thailand and I go out most nights for the social interactions.

Here in the US I spend most of my nights reading or working on research projects and I get my social needs met at work.
If I retired in Thailand I would no longer have the social interactions at work and I suspect I would - at first - be out most nights.

I do not wear rose colored glasses and have been to thailand so many times that I have a very good idea about what I would be getting into. I am just curious about others perspectives about how their spending habits changed..maybe as an indicator of how they keep busy.

Hello;
Not easy getting a straight answer out of this lot, is it? HA - I am a somewhat 'younger' retiree from America. I have lived here full time for 10 years now, and before that part time for another 5. The answer to your question is not as easy as it sounds, because it depends on if you are single or in a committed relationship. Since you are single, I would say that you are going to initially going to spend more time going out than in America. A night out is typically more expensive here, as you note. There is simply much more to compete with your wallet. When my husband and I go to the states, we have a great night out for a fraction of what it costs us here in Thailand, and we are obviously not taking boys home anymore! At the same time, you are going to find that some of your expenses decrease dramatically. Taxis, utilities, and movies come to my mind at first. We now spend most of our evenings at home. My husband cooks (we tend to not trust the cleanliness of many of the restaurants and street side stalls around here - shocking I know!). We have lived for two years at a stretch in America and found that we spent about 75% of what we spend here in Thailand. At the same time, our quality of life here (what we get for that money) is much better here. The culture is much more rich, people more friendly, and our outlook on life is much healthier. For that, I don't think you could put a price on it. I know some people try to give a 'budget' in answer to questions like that, but I think that is a farce. If there is one thing I learned, everyone is different. What it takes for me to live might be nothing in comparison to what you need. What I think you are asking, however, is how the cost of living here compares to America, and I think I have tried to answer that. For that most part, I would say it averages out to be just a bit higher when you discount rent/housing. Take that for what it's worth.

You have been here many times, so you do not need to be 'sold' on the virtues of living (or not living) in Thailand. Like any place, it has its plusses or minuses. If you like it here, however, and you have the money to retire here without working in America (I still do the odd job online, so if you need an extra income, it is easy enough to earn it), don't worry about the money. You will find that you spend much more here initially because, as you say, you might become a bit bored. Once it becomes 'home' and not just a tourist destination, however, you will find your own groove and find that money stays in your wallet a bit longer.

Hope that helps even a little bit - if not - well, thanks for reading.

Cheers -

[scottish-guy]

I'm thinking of relocating somewhere when I hit 60 (not to Thailand I don't think - I'd be broke in a year - and 60 is still a few years off before anybody starts casting nasturtiums)

I've found find this website quite interesting - of course it only gives generalised comparisons rather than the more personal accounts you'll get from members here but I think useful nonetheless:

https://www.numbeo.com/cost-of-living/comparison.jsp

I think all I'll be able to manage is to relocate to Moldova !!

[Moses]

I've found find this website quite interesting - of course it only gives generalised comparisons rather than the more personal accounts you'll get from members here but I think useful nonetheless:

https://www.numbeo.com/cost-of-living/comparison.jsp

I think all I'll be able to manage is to relocate to Moldova !!

Checked on Pattaya vs. Moscow. Site is totally wrong. Prices are outdated (5-7 years old). everything cost almost twice higher that it shown for Moscow.

UPD: if compare Moscow vs Pattaya then prices are correct.

[scottish-guy]

I said I found it interesting and useful - only the SGT 'management team' is infallible

[paborn]

Checked on Pattaya vs. Moscow. Site is totally wrong. Prices are outdated (5-7 years old). everything cost almost twice higher that it shown for Moscow.

UPD: if compare Moscow vs Pattaya then prices are correct.

truthfully, I don't think any site can be 100% accurate. Thai currency could dive vs your local any day. Punishing sanctions by US and Europe can drive up costs in Russia. Retirement income derived from investments can nosedive on your personal end. I have freinds who struggle in the Dominican Republic because they never adapted to eating like the natives and imported US food costs a fortune. Your personal finaces, global financial changes while of huge importance I think your personal life style choices are critical. I live quietly in the US with my hobbies, volunteerism, LGBT center activities - a homebody, happy with friends and family. Cut off from that would I go out far more and spend more - yes. My first reponse to the OP was to use his 3 months a year in Thailand to test all these issues conciously, make note, think about it. It is very complicated. I had a friend in Thailand , an Australian living omn a visa who grew disgusted with flying to Singapore every 90 days to come back the same day. He called it his $300 cup of coffee ( airfare and the coffee he had while waiting for a return flight) I have no idea what visa options there are but I gather that one has to be ready to naviagate areas that might come as a surprise to you.

[kittyboy]

Hello;


You have been here many times, so you do not need to be 'sold' on the virtues of living (or not living) in Thailand. Like any place, it has its plusses or minuses. If you like it here, however, and you have the money to retire here without working in America (I still do the odd job online, so if you need an extra income, it is easy enough to earn it), don't worry about the money. You will find that you spend much more here initially because, as you say, you might become a bit bored. Once it becomes 'home' and not just a tourist destination, however, you will find your own groove and find that money stays in your wallet a bit longer.

Hope that helps even a little bit - if not - well, thanks for reading.

Cheers -

Thanks for the comments.
Reading online the thailand hype is that you can live like a prince on XXX (pick a ridiculously low monthly spending figure) in thailand.
The cost of living is cheaper but there are so many more opportunities to spend and or donate to the bar boys trust funds that I suspect that for me it would be as expensive as living in the USA - At least for the first year.

Another poster commented that at home they do LGBT volunteer work..which I have done in the past and found very rewarding. However, it seems to me that volunteer opportunities are limited in Thailand. I get the impression that being a volunteer is treated as working?

My concern is that if I retired to thailand I would be bored and have few opportunities to work or volunteer - few opportunities to do anything besides go to the gym, swim, go to the beach and go to bars.
As a tourist I have not tapped into the expat community - I have looked up online and it seems like there are expat organizations that might provide opportunities for socializing.

[goji]

I would say there are 3 main areas to look at:

1 Cost of basic living + lifestyle. You control this.
At one extreme, you could rent a modestly priced apartment in some regional town, eat Thai food at home, or at the same street stalls as Thais and probably get by on less than 1000 baht a day.
Or you could live in a decent apartment in Bangkok, hire a boy every day & eat out at flash restaurants.
I think it all depends on where you are on that scale.

2 Medical Costs, compared with home.
Obviously, the delta depends on your home country baseline situation.

3 Currency Fluctuation.
Just look at the GBP over the last 10 years, as an example. Now 50% more GBP are required to buy the same number of baht.
So some safety margin is required. Or a portfolio of assets that is diversified by currency.

I expect to be spending a lot more time in Thailand very shortly, so these topics are something I keep considering.

[aot871]

I could never afford to live in pattaya what with running a house back in the uk plus the cost of medical insurance in los,(, the later being the killer ,)My total income per month after uk tax is approx £1800 or 77,000 at the present rate of exchange,

[Smiles]

" ... I've found find this website quite interesting ... "Thanks for that comparison link Scottish. On the whole it's reasonably accurate. I compared Vancouver/Bangkok, but I see there is an area deeper into the site which shows smaller town comparisons ~~ for instance, Hua Hin is there, although not as comprehensive as the large cities.

I've got that one in my bookmarks. https://www.numbeo.com/cost-of-living/comparison.jsp

[scottish-guy]

I could never afford to live in pattaya what with running a house back in the uk plus the cost of medical insurance in los,(, the later being the killer ,)My total income per month after uk tax is approx £1800 or 77,000 at the present rate of exchange,

Well in my case I'd be selling my house to relocate. Main reason being I have only distant relatives to whom I wish to leave nothing and the UK Govt likewise.

However I know that even the proceeds of a house sale (especially the tiny Gorbals hovel that MiniMee insists that I live in) would very quickly be eaten up - so I either need to find a business in my new country of residence which will at least cover most of my living expenses or as I say move to somewhere like Moldova or Georgia where I can live reasonably well very cheaply, until the grim reaper calls

[kittyboy]

Well in my case I'd be selling my house to relocate. Main reason being I have only distant relatives to whom I wish to leave nothing and the UK Govt likewise.

However I know that even the proceeds of a house sale (especially the tiny Gorbals hovel that MiniMee insists that I live in) would very quickly be eaten up - so I either need to find a business in my new country of residence which will at least cover most of my living expenses or as I say move to somewhere like Moldova or Georgia where I can live reasonably well very cheaply, until the grim reaper calls

I looked up the cost of living in Moldova and it is certainly an inexpensive place to live.
Cheap living is certainly an attraction - I do like the look of the eastern european boys.

[newalaan2]

I said I found it interesting and useful - only the SGT 'management team' is infallible

Also you should know by now that merely being the messenger is sometimes enough for being almost personally responsible for any 'message' content. I was banned*/censored*/suspended*/temporarily suspended*/posting rights withdrawn* (* delete as appropriate), for posting a message which merely informed the forum that a member who had posted a bare-faced, blatant lie about me...was in fact a liar, I didn't lie, I was only the messenger, apparently where I went wrong was bringing a message about a close friend of Moses/the management. I had naively thought that fairness would be the order of the day and the guilty party censored/told to retract the lie.

Apologies to the OP for off-topic content.

Regarding the subject, not much I can add as I only have experience of visiting/holiday costs........and as frequent visits are still enough to satisfy my Thailand urges, while I am still able to travel I could never envisage moving to Thailand on a full time basis. A Thailand visit today remains as fresh and exciting as the first did back in 2000, I'm not sure if living there permanently would preserve that feeling. However it's clear that many who have made the transition........smiles, gaybutton but two who have publically acknowledged it, have said that it's worked very well for them. Interesting thread nevertheless.