How Much to Retire in Thailand?

Yorky

Fullritis Member
From ThaiVisa today.....

"Anyone thinking about retiring to Thailand should have the equivalent of around 11 million Baht in savings (approx USD$390,000), that’s according to a new study on the cost of retirement around the world.

The study, carried out by online lender NetCredit titled The Cost of a Comfortable Retirement Around the World, looked at how much someone might need to retire aboard and enjoy their same quality of life.

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.

The figures are based on someone living for around 14 years after they retire - with the average age of retirement in America (64) and the average life expectancy (78.7). The same calculations were then applied to almost every country.

The study found that a person retiring to Thailand would need $389,835 in savings in order to maintain the same standard of living they were used to in the West.

The amount of savings required for Thailand were considerably lower than the amount needed to retire comfortably in both the United Kingdom ($515,742) and the United States ($601,489.63)."

Well, I certainly didn't start 20 years ago with ฿11,000.000.00!
 
TV is going downhill rapidly

The study seems to have totally neglected that almost all retirees to Thailand (and elsewhere) are more than likely in receipt of both state and occupational/personal pensions.

I arrived on these shores in 1986 with 2 million baht..built a house, bought a car and motorbike, and survived until 1997 when I claimed an early occupational pension. State pension followed later. No further capital, yet living quite comfortably
 
From ThaiVisa today.....

"Anyone thinking about retiring to Thailand should have the equivalent of around 11 million Baht in savings (approx USD$390,000), that’s according to a new study on the cost of retirement around the world.

The study, carried out by online lender NetCredit titled The Cost of a Comfortable Retirement Around the World, looked at how much someone might need to retire aboard and enjoy their same quality of life.

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.

The figures are based on someone living for around 14 years after they retire - with the average age of retirement in America (64) and the average life expectancy (78.7). The same calculations were then applied to almost every country.

The study found that a person retiring to Thailand would need $389,835 in savings in order to maintain the same standard of living they were used to in the West.

The amount of savings required for Thailand were considerably lower than the amount needed to retire comfortably in both the United Kingdom ($515,742) and the United States ($601,489.63)."

Definitely agree with last paragraph...unless life-saving medical procedures and/or prescriptions tank your savings.
 
TV is going downhill rapidly

The study seems to have totally neglected that almost all retirees to Thailand (and elsewhere) are more than likely in receipt of both state and occupational/personal pensions.

I arrived on these shores in 1986 with 2 million baht..built a house, bought a car and motorbike, and survived until 1997 when I claimed an early occupational pension. State pension followed later. No further capital, yet living quite comfortably


Capital is temporary, income is permanent.


Many Farangs come here with little or no savings. Many that come with savings seem to get the urge to dissipate what they have on women, cars and houses....none of which are in their name,
 
Capital is temporary, income is permanent.


Many Farangs come here with little or no savings. Many that come with savings seem to get the urge to dissipate what they have on women, cars and houses....none of which are in their name,

Much income is unfortunately frozen, whilst DWP have reduced pension payments significantly in the last year having taken away the dependents allowance granted pre 2010. Both capital and income is also at the mercy of exchange rates.

 
Much income is unfortunately frozen, whilst DWP have reduced pension payments significantly in the last year having taken away the dependents allowance granted pre 2010. Both capital and income is also at the mercy of exchange rates.

Luckily, although it's a PITA, I manage quite successfully.
 
Nicks point about pensions is very relevant, my own combined net pension income is approximately 21,000 gbp/pa or 315,000 gbp over 15years.
Add in my capital from which, after due diligence, (I can hear Co-Co,) I bought a house and pick up truck and the figure in the report seems reasonable.
If I had children to educate up to and through university I would need substantially more to maintain the standard of living I enjoy
 
"Anyone thinking about retiring to Thailand should have the equivalent of around 11 million Baht in savings (approx USD$390,000), that’s according to a new study on the cost of retirement around the world.

The study, carried out by online lender NetCredit titled The Cost of a Comfortable Retirement Around the World, looked at how much someone might need to retire aboard and enjoy their same quality of life.

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 center, among other factors.

The figures are based on someone living for around 14 years after they retire - with the average age of retirement in America (64) and the average life expectancy (78.7). The same calculations were then applied to almost every country."


I would not disagree with the broad figures quoted in the article. For a little more cash in your pocket or regular income, it's quite possible to buy a 3-bedroomed house in a provincial capital, run 2 cars (his and hers), raise and educate 2 daughters up to and through university education, and enjoy a family holiday once a year too. One could never afford to do that back in Blighty on the same income.
 
"Anyone thinking about retiring to Thailand should have the equivalent of around 11 million Baht in savings (approx USD$390,000), that’s according to a new study on the cost of retirement around the world.

The study, carried out by online lender NetCredit titled The Cost of a Comfortable Retirement Around the World, looked at how much someone might need to retire aboard and enjoy their same quality of life.

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 center, among other factors.

The figures are based on someone living for around 14 years after they retire - with the average age of retirement in America (64) and the average life expectancy (78.7). The same calculations were then applied to almost every country."


I would not disagree with the broad figures quoted in the article. For a little more cash in your pocket or regular income, it's quite possible to buy a 3-bedroomed house in a provincial capital, run 2 cars (his and hers), raise and educate 2 daughters up to and through university education, and enjoy a family holiday once a year too. One could never afford to do that back in Blighty on the same income.

The example shown indicates a single Farang (one bedroom rented apartment in a city centre), no dependents mentioned, no vehicles mentioned, moderate drinker, going out twice a week, once to buy coffee. There is no mention of hired female companionship. I don't believe that persons like that exist in Thailand. Not many anyway.
 
Numbeo is a site that compares the price of 60 staple goods and services between two cities. Sisaket prices average 30 to 40 percent of Calgary, Canada prices. Wine and vehicles are the exception.

Unless my retirement pleasures are fast European cars and fine French wines my money buys me at least 2.5 x the lifestyle I would have at home.
 

27,850 USD a year to retire in Thailand according to this.

Basically the exact same annual amount as Yorky's OP article stated... US$390,000 for retirement based on 14 years. ;)

Just pray you never get seriously ill, require major procedures or require expensive medications. (^^)
 
For beer and alcohol go to Cambodia !!!

Easier said than done at the current time.

Also, I'm not sure how long you would need to stay there and how much you would need to drink to cover the cost of the re-entry permit, the Khmer visa, hotel bill and the transport costs.
 
Back
Top