A question for retirees

[bobsaigon2]

Ah yes, the libido, or lack of same, in our declining years, is really the only measure of how good or bad an idea it is to retire in Thailand. Rent, not buy, a place in LOS as long as you're sexually active. When the urges dwindle, it's time to head to some place where the heat is less oppressive, the language is more intelligible, the culture less enigmatic, the cost of medical care and quality of treatment are acceptable. IMHO, absent the sex factor, life in Thailand simply does not have enough redeeming qualities to make retirement an attractive option. Of course there is the exception in those older farang who are in an LTR with a Thai guy and either require the partner to take on the role of caregiver, or simply can't find a way to honorably disappear from the scene.

[Jellybean]

An interesting topic Joe with quite a broad range of replies. I had to take early retirement on health grounds around 10-11 years ago. I wanted to buy a second property in Spain, my favourite foreign country prior to my illness, and spend the winter months there. At the time I was experiencing some difficulty coping with cold weather due, I think, to problems with my immune system. Coincidentally, a friend decided to retire early around that time as he simply had had enough of the rat race. He chose to buy a property in southern Spain, which would have suited me too. Unfortunately, I could not afford a property there and retain one in the UK. Another friend suggested Thailand, where he assured me I could easily afford a second property and keep my home in the UK. He also assured me that I could find a sexual partner in Thailand, although I was somewhat sceptical, having had no knowledge of the boy bars as I had not been a visitor to Thailand when I was healthy.

After two trips out to Thailand, and experiencing the boy bars, I bought a house in Hua Hin because thatтАЩs where my friend and another friend had properties. Without being unduly dramatic I didnтАЩt really expect to live more than 3 or 4 years, having had a second tumour after a period of radiotherapy. This view was confirmed some years later by my surgeon who assumed I would get a third and final tumour.

Happily for me, 12 years later, I am still here and doing rather well health wise. However, as the years passed I found that living in Hua Hin did not suit me. About 6 years ago I bought a condo in Bangkok and rented out my house. But latterly the house started to become a millstone and, to my great relief, I was successful in selling it last November.

With the benefit of hindsight I wish I had not bought property in Thailand, especially a house which entailed the setting up of a company to own the house and land and the annual cost of preparing and submitting accounts. But looking at the issue positively, I believe I earned more in rental income than I would have earned in bank interest. Moreover, the house was sold for a slightly higher price than its purchase price. But given that 9 years had elapsed, I was however surprised at how little the value of the property had increased. The saving grace was that when converted back to pounds sterling, the gain was much larger due to currency exchange fluctuations, which produced a very welcome capital gain, even allowing for the payment of Capital Gains Tax in the United Kingdom.

I have no regrets about buying a condo in Bangkok, but again, with the benefit of hindsight, I think it might have been wiser to simply rent a property. Doing so would have allowed for greater flexibility of location and given me a larger bank balance with which I might have spent more time travelling to other Asian countries, something I havenтАЩt done at the time of writing.

But the overriding factor here is that I did not burn my bridges, I kept my property in the UK. I have met gay and straight expats who informed me that they regretted moving out to Thailand on a permanent basis. Some Brits I have known sold their properties and returned to the UK.

Over the years I have found that around 6 months a year is more than enough for me to spend in Thailand, usually between October and April. Another factor, peculiar to my situation, has been the need to return to the UK every year for further surgery. I canтАЩt say if I might have decided to spend longer in Thailand or live there permanently if it hadnтАЩt been for my medical issues.

My recommendation would be to keep the door open, retain your property in Ireland and rent a property in Thailand тАж you seem quite at home in Pattaya from my reading of your posts. But if you fancy a change of scene, renting makes it considerably easier to up sticks and move elsewhere. I think the watchword here is тАШflexibilityтАЩ.

You could also consider renting out your property in Ireland to give you some extra and rather useful income.

I have not yet reached the official retirement age in the UK, so am living off my employerтАЩs pension, which doesnтАЩt exactly allow me to live a luxurious lifestyle, it is however more than adequate for living in Thailand and keeping a base in the UK.

Lastly, I agree with the comments made by Halfhansum. I too like three of the seasons and enjoy being here in the UK for the spring, summer and autumn. I believe I have the best of both worlds and it suits me just fine, although I accept it might not suit others.

[joe552]

I don't own a property here in Ireland, Jellybean, and would have no desire to own one overseas either (even if I had the money, which I don't). But your advice is spot on for those thinking of re-locating there. If I were to ignore the retirement visa option and do visa runs instead (becoming increasingly difficult according to Thaivisa.com) I could probably live a decent enough life in a small studio in Pattaya. But quite honestly, I've no idea how I will feel when my mother eventually dies and I have to make a decision. In the meantime, it's been really interesting to read so many different points of view.

[fountainhall]

And the opportunity cost?

Anyone who purchased a condo in central Bangkok using overseas funds when the US$ was in the region of Bt. 42 тАУ 45, has lived continuously in it - and started putting funds into the Thai stock market when it was standing at not much over 200, has done pretty well. Given that the dot.com bubble, the SARS crash and the 2008 financial crisis decimated a lot of savings, I wonder to what opportunity costs you refer.

[travelerjim]

Thank you Joe...in retrospect....

Your OP has resulted in varied experiences being shared from expats...
To retire in TH or not? To buy or rent? and more interesting tidbits of advice.

Best of luck to you...and all board members...decisions, decisions...decisions!

[a447]

Yes, a great topic, Joe. It certainly makes for very interesting reading.

I bought a condo in Bali a number of years ago on the beach in Kuta; just kind of on a whim. I soon found myself coming here frequently, just to get value out of the property. I ended up selling - just in time, as it turned out - and was lucky enough to make a tidy profit. I'd never but property overseas again; I'd rent or just stay long term in a nice hotel near the gay bars.

Jellybean, you've been through the wars, but it appears you are back on track and enjoying life again. Good for you!

[loke]

I'm not retired but living here for almost 3 years now. there's a big 'digital nomad' group here in thailand...
a lot of location-independent / self employed guys and gals in Bangkok and Chiang Mai. that's a big
draw for me. a low cost of living while building a business and living a bit of adventure.

I'm in the same situation myself. How do you solve the visa problem ?
I have been using ED visa route but now that option seems to get tougher.

[netrix]

yep. ed visa but now will have to deal with 90 day renewals / extensions or whatever the official term is.
i have a business partner in the states who runs a large web design office in bangkok -- we're looking into
"hiring" me as a "consultant" so i'll be legally allowed to stay with non-imm and work permit.

[Manforallseasons]

[quote="joe552"]I won't be in a position to retire for about 7 years, but I wonder what made you choose Thailand as your retirement destination. Food. temples, boys, cheap living costs? What would be your best piece of advice to someone thinking about retiring there.

After living in Thailand for many years if one of your reasons for considering retiring here is that you've known it as a "Gay destination" the way things have been going in seven years Thailand will be off the charts as such a destination.

[Shuee]

actually i should have said get there quick & make the most of it before theres nothing left on the scene at all!