A question for retirees

Only reason to retire there is the Boyz. As for advice, don't burn your bridges back to home.

Agree wholeheartedly. Is the 240 Euros on top of owning your accommodation? If so could you rent it out while you're in Thailand without affecting how much you get with the pension? 240 Euros doesn't sound enough if you propose continuing anything like the way of life you pursue while on holiday, especially as the likelihood of more medical costs increases with age and you won't have affordable health insurance in Thailand.

A friend of mine is thinking about selling his house which will give him roughly 12 million baht, buying something in Thailand for say four million baht, and living as far as possible on his pension which is the same as yours. He reckons that's "do-able" but he doesn't go to the bars that much, doesn't have or want a regular boyfriend, and has plenty of things that can occupy his time without having to spend lots of time with "friends".

Cambodia would be an even worse proposition than Thailand if you have health problems. Anything more than dandruff and you're medivaced to Thailand or Singapore. Didn't Fat Boy propose moving to Siem Reap once?

[homeseeker]

joe:

Why did I retire to Thailand?

= The availability 24/7 of loads of nubile young adult males; plus the general absence on the whole here of "ageism".

Best advice to someone thinking of retirement?:

= Make sure you have sufficient income to live in Thailand comfortably and generously. Not enjoyable having to live the life of a 'cheap charlie'.

[dab69]

Sooner you move,
sooner you can be "rebound guy"
for when Scottish Guy is next available... :ymhug:

[fountainhall]

Although not retired, moving here was a no brainer after living for more than 2 decades in South-East Asia - for all the reasons mentioned above. Basically, I did not want to return to the west. Whilst I considered Kuala Lumpur quite seriously - KL was a very cruisy city in the 90s! - there was never much doubt in my mind that it would be Bangkok.

I'd emphasise three things. Spend a lengthy period here before you make the decision to move - already highlighted. Remember that under present UK regulations, if you live abroad your pension is frozen once you start to draw it down. Official inflation figures are low at present but prices of many goods are rising faster here in Thailand. Lastly - and most important in my view - is health insurance. Some expats leave it too late and end up having to self-insure. That's fine if you have a lot of spare cash. If not, make sure you lock into a policy that will be suitable for you in Thailand before you depart. Certainly before you are 65 and preferably before you are 60.

[travelerjim]

I agree with the replies so far...
except...I would NOT recommend you buy in Thailand...
Leases of beautiful condos are readily available...at deep discount prices at the present...
Gives you control of your $$$ and freedom to change locations without worry of having to sell.

Also quite concerned for the 240 BP weekly pension from UK you quoted...and possibility it will
not increase for inflation...per fountainhall's comment above.

Your ability to access the British health care system may be denied as an expat living in Thailand...or outside the UK.
Again, do your research...and I can assure you when fountainhall speaks on that subject he knows what he is talking about!

Good luck to you...

tj

[fountainhall]

The boards have quite a variety of opinions re buying v. renting. I decided to buy almost 15 years ago. I now have an asset that will sell for more than I paid and have lived rent free (apart from management fees and a small amount of maintenance) for all my time in Bangkok. At the same age, I would try to do the same. Renting probably makes more sense the older one is. On the other hand, you are then subject to often unquantifiable market forces. I know one expat on a small budget who got a great rental deal on a condo unit. Two years later he now has to move because the rent has been jacked up beyond his ability to pay. Pattaya may be different, though.

Leases of beautiful condos are readily available...at deep discount prices at the present...
Gives you control of your $$$ and freedom to change locations without worry of having to sell.

Yeah Jim is write but many of these condos are down side streets with few passing taxis so to the smart arse who responded to my taxi Apps post that is the reason why you would use them Apps.

[joe552]

Just to clarify - I'm Irish so the figure of 240 pension per week is in Euro. I have no plans personally to retire to Thailand as I won't the 800,000Bt needed for a retirement visa. I was simply starting a conversation about why people chose Thailand as their retirement destination. Thanks for all the interesting replies.

[travelerjim]

240 Euros = 10,562 Thai baht weekly...

IF that is the sum total of your retirement funds...
You are short of the sum to live in Thailand as a retiree comfortably.

And IF NO inflation increases in your pension, you will become squeezed in years ahead from Thai inflation.

I have seen many such a expat retiree who are now experiencing that squeeze...as they retired 20 years ago.

Be careful...and prudent in your decision.

Of course...trying to retire on those Euros in your home country will also be a challenge for you.

Best to you...Good Luck!

tj

[joe552]

I will also have a small pension pot of about тВм25,000 - but as I said, I have no plans to retire in Thailand. My likely destination is Tenerife in the Canary Islands, where I can live more cheaply than Ireland, and avail of free medical care.