Retirement

[Guest]

A topic for discussing where to retire, when to retire and so on.     Contributions are particularly welcome from those who are retired & anyone who has given the matter serious thought.

 

Have you/would you move to Thailand full time ?   (or elsewhere in SE Asia)

Or stay there for several months a year ?  

Where in Thailand ? 

Why that location ?

Advice/questions for others ?

When to retire ?

 

I am not retired.

My plan is to retire in my early 50s.  

The idea is to start with a winter trip of several months to SE Asia and travel around slowly to try a few locations.   If that goes well, I would look to take more long trips & possibly emigrate permanently.

 

In my mind, Pattaya is one of the better candidate destinations, since it has a very wide range of facilities, including the shops, restaurants, coffee shops & night life.   Plus other expats to meet.   Also, it seems less polluted than Bangkok.   However, the first thing I need to try is staying there for longer period.    Plus try a few other places.

 

Also, living in northern Europe, the winters are cold & dark, so there is a good incentive to escape for a few months a year.

[Terry4]

May I ask how old you are now?

 

I guess if your going to retire in your early 50's you will need income.

[TMax]

1. I retired 3 years ago at 57 and have a comfortable living

2. Spending a fair amount of time getting my house and gardens sorted the way I want is my immediate concern

3. At the moment I travel to Thailand once a year just for a couple of weeks for a break but would love to at least double that in the near future

4. Would love to move to Thailand full time but the long term planning at present is to do 3 months Thailand, 6 months home and back to Thailand for 3 months. Not sure when or even if that will commence (a lotto win will speed it up

[spoon]

Retirement is still a long way to go for me but i am fullt aware of adequate financing if i were to retire at my home country. I am however curious about the adequate financing if one were to retire let say in bangkok and pattaya. Lets say nightlife/offing boys were limited to few times a month, or once a week.

[kokopelli]

z909, after 4,565 posts you should know more about Thailand than most others. 

[Terry4]

I met 4 guys in Pattaya recently, all had one thing in common they had all recently retired.

 

An Austrlian guy a fit looking 62yo was a fireman and retired with a fair sum, his pension fund paid over 2 million baht a year, he had been in Thailand for several months but decided it was better a 3month in Thailand and 6 month in Australia thing.

 

63yo American guy retired small business owner told me he was living off his rental income back home in Nevada USA, and savings, he had to strict budget thus only allows himself one night a week out and 2 boys a month.

He currently rents a pattaya condo.

 

66yo Aussie guy self employed builder just retired , owned several apartments, told me he lives off investment property income and spends 6 months x 6 months , seemed to be very mean with his money after I caught him haggling the price of his drink with the bar owner claiming it was still haopy hour.

 

So these guys arw all over 60yo, they worked until then or later.

They all scrimped and saved

[Guest]

z909, after 4,565 posts you should know more about Thailand than most others. 

Actually he knows nothing about retirement anywhere or especially in Thailand. He is not retired and is not in the process of planning retirement yet if I understand his posts ( at least in Thailand).

 

Hoping we will have some retired people post or at least some members who did all the research and for some reason decided to retire  in their home country or somewhere else.

[paborn]

I retired 7 years ago and spent a lot of time thinking about where to rest my ancient bones. I considered Mexico, somewhere on the slopes of the central plateau locked in eternal spring. Some of the violence in Mexico, however, gave me pause. I considered Puerto Rico but the damage done by Hurricane Andrew warned me off ( I dodged a bullet considering Hurricane Marie last year ) that ruled out my favorite island of Santo Domingo. My eye turned to Texas with a vibrant and large gay life. Austin is so well integrated there is no gay ghetto everyone lives amongst each other. Forget what you hear; it is not so much that Texas is red, no, Texas does not go to the polls. It is 49th in voting in the US. I did, indeed think of Thailand. A place I visited 28 times over the years.

 

So what happened?  I retired with significant savings but have to conserve as who knows how long we will live these days. I did not want to work at all, but needed something to do. So the dilemma:

 

1. Mexico out danger is up and down. Last time I was there on business my company refused to allow us to usee ordinary taxis as they are too dangerous ( mugged by my cab driver?? ) and employed our own car service for protection. Now, this was our Mexican branch and Mexicans deciding this! Not scarred Americans. So, no Mexico.

 

2. The Caribbean. Hurricanes and everything you buy must be imported. Yes, you can live cheaply if you are willing to live as a native. So, no.

 

3. Texas. It had a lot going for it.

 

4.  Thailand. Thailand will not sell the sacred soil to a non-Thai. Setting up a corporation and issuing shares to own my own home was unsettling. Hard to feel truly welcome. I'm not a linguist. My Spanish is fair and my German rough and ready. But I'm, apparently, tone deaf and the tonalities of Thai escape me. Can I live in my declining years depending on translations? Also, it is very hard to budget. Business is easy. You plan your budget for needs and screw your wants. Life is harder. Could I really be in a place and limit myself to a boy or two a month? Why the hell live there? Could I just go once a year and be happy?  Maybe.

 

5. My choice fell to South Florida. Big gay life in Fort Lauderdale. The Housing crisis got me a home in Florida at a very reasonable rate, I could put 100K into renovations and have what I wanted. Selling my former New York home ( yeah I fled the cold north with the bitter memory of a beloved uncle who died shoveling snow ) helped finance this.

 

All in all my choice has turned out well for me. On retirement I had a hobby I indulged in for 5 years, slowing down a bit so I leveled off. But, I read a lot, love to cook and bake bread ( god the fight with my waist ) and have a beloved pet. The pet makes my trips only two weeks in length. But being so near the Caribbean gives me 3 to 4 trips to Santo Domingo every year. So, all in all, it turns out well.

 

If you're still working think hard about saving, budget realistically. Just one example, I'm reasonably well off but fly coach. Yes, all the way - it doesn't kill me. A former boss died of deep vein thrombosis in the corporate jet - coach won't kill you. But, neglecting constriction socks and getting up to move your ass will. I search for decent hotels ( preferably gay to support our community ) I indulge in restaurants but try to be sensible.

 

Try the place you want to retire BEFORE making the plunge.

 

I think the most important thing is to not think with your penis. Plan, budget and imagine your lifestyle before deciding. In other words, "think long and hard" was, as always, the best advice.

[kokopelli]

I retired 28 years ago and am still "active". Spent the last 19 years visiting Thailand on and off and the last 3 or so years as a permanent fixture in Thailand with a once a year visit back home.

And as paborn says,  "think long and hard" was, as always, the best advice.   

[paborn]

You give me inspiration, there might be another chapter to my story

[bedbugy]

i was made redundant in 1987 age 37

i have never worked since i moved to thailand after touring india nepal singapour maly then thailand in 1992 i toured every province for 6 months

went back to uk sold up and moved to songkhla 1993 where i have lived since

you only have one go at life live it

[spoon]

i was made redundant in 1987 age 37

i have never worked since i moved to thailand after touring india nepal singapour maly then thailand in 1992 i toured every province for 6 months

went back to uk sold up and moved to songkhla 1993 where i have lived since

you only have one go at life live it

Admire your guts but what kind of visa did u apply to live in thailand when u didnt work?

[vinapu]

I'm still working but of  age when retirement options are # 1 conversation topic in my crowd. 

 

I gave Thailand , Vietnam, Laos and Cambodia serious thought but decided firmly against and will not try again. 

 

Coming few times a year for long and cheap vacation , yes , living there permanently , no and that for 2 main reasons:

 

I'd miss my social circle of family and friends and it would take few years to rebuilt it in new place without guarantee of success

 

and

 

perhaps surprisingly for some, I'd miss four seasons. I hate heat, being on vacation is fine but living permanently in hot country,  no way. As much as I like long and warm summer days I don't mind when they regularly change to  long and cozy albeit chilly evenings and nights, serious

[kokopelli]

 

 

I am not retired.

My plan is to retire in my early 50s.  

The idea is to start with a winter trip of several months to SE Asia and travel around slowly to try a few locations.   If that goes well, I would look to take more long trips & possibly emigrate permanently.

 

In my mind, Pattaya is one of the better candidate destinations, since it has a very wide range of facilities, including the shops, restaurants, coffee shops & night life.   Plus other expats to meet.   Also, it seems less polluted than Bangkok.   However, the first thing I need to try is staying there for longer period.    Plus try a few other places.

 

 

z909, the plan you propose is logical. What you propose is what I would also suggest.  Just don't burn your bridges to home until you are sure Thailand is the place for you.

[chillout]

I am not retired yet.

 

I just turned 50, which is the milestone I had earlier set for myself to retire. I have just also become debt-free after paying up the last of my mortgages, so that will make the decision-making easier.

 

I am working in Singapore, and now that I have hit my 50-milestone, the process of deciding when I should actually take the retirement plunge begins in earnest.

 

I plan to retire in Johor Bahru just next door to Singapore across the straits, where I have a condo which I had bought off the shelf a couple years back as a retirement home. It is in a nice gated development with a riverine and coastal boardwalk and pocket parks, courtesy of its Australian builders.

 

When I do retire, I plan to live off rental income from an investment property and spend a couple of months in my Johor home, alternating with a couple of weeks in Singapore where my partner has a home (he has no plans yet to retire), with short trips to Bangkok and other places in SE-Asia in between. My partner and I are both from this part of the world and hence comfortable with the climate and lifestyle.

 

I have thought about retirement in Thailand as the eligibility criteria for retirement visa is fairly achievable. However, I guess my partner and I would need to spend longer periods in Thailand to be able to decide whether it is a viable option for us. For now, Malaysia seems a good place for affordability and amenities. The gay environment is not a pre-requisite as we are not active in the scene except when in Bkk when we visit the Silom bars for partying at most.

 

It would be nice to hear from any of you who retired early in your 50s or even 40s about how you made your decision and how you manage their finances.

[vinapu]

 It is in a nice gated development .....................

horror

[kokopelli]

chillout, You seem to have a good plan for retirement. 

[Terry4]

Hi Chillout,

 

There used to be a poster ....and Blog I recall...from a retired guy in Singapore or was it Malaysia?

 

Anyway , fantastic blog on his lifestyle ,I think it was called “ Grow old disgracefuly “ or similar and i think he was even a poster on here ,cant recall his name now sorry , but he was into lifting weights and tennis, and apparently clay pottery.

 

Sorry , I dont know if he is still actively postng,does anyone have any knowledge of his blog lately ?

 

 

 

I am no longer excited enough to retire in Thailand though,Im looking for alternatives, eg Phillipines or , Indonesia .

[gerefan]

I have been retired for about 16 years. I left work at 54 (actually made redundant but took early retirement) highly recommended!

I have a house just outside London and really have no incentive to sell it as I want to have some bolt hole if needs be.

 

So I travel to Thailand for 3 months over the awful UK winter and also one month in July/ August. Atlthough last year I stayed 4 months for the first time but found it too much. Three months is usually my max before I need to leave! I stay in Pattaya.

 

I have often thought about selling the house and moving permnatly, but if I do it is a one way ticket as I would be unable to re-buy near London.

 

So I’m still doing the 3 month/1 month thing!

[Terry4]

Gerefan .may I ask u have purchased a Condo?

 

Would that be cheaper for you guys that stay 3 months, 6 months etc to buy rather than rent for that short period?

[hank75]

I am not so close to retirement age yet (though definitely making mental plans already) and all told, am slowly scaling up to the possibility of maybe spending more time in Thailand. I like my creature comforts and probably spend more on hotels than I probably should. So an apartment I have furnished myself makes sense and permits longer stays without worrying about hotel bills. I understand that for around US$40-50K I can acquire a central Bangkok apartment. My question is what do I do with the apartment for the remaining 9 months of the year? Hire a property manager to let it for short periods/AirBNB? Seems a waste to leave it empty. Also does anyone know if foreigners can have mortgages or get financing? My other alternative is to buy now with up to 70-80% on mortgage, rent it for several years and have it close to being fully paid for by retirement. This will free up my funds for other expenses and investments.

[faranglaw]

Dear Husband informs me farang can buy a condo but not the land. We own a condo very near Babylon. We rent it out year round, which unfortunately means we can't use it during out three month winters there. But you are right, it is starting to pay for itself and has gone up in value. When and if we retire there full time, we'll have the use of it. The office in the condo building arranges renters for us. The current ones were just walk-ins, and we didn't need to do anything to start the rent rolling in again.

[PeterRS]

I really wonder if you can get a condo in central Bangkok at your suggested range of US$40-50K. Looking at a couple of property websites, a one-bedroom 25.25 sq m unit at On Nut is selling for 3.44 million baht - $104K. New 30 sq meter apartments much further out on the Skytrain lines are selling for $70K up.  33 sq m on Ruamrudee (off Wireless Road and close to Sukhumvit) has an asking price of 4.5 million baht - $136K. Further out on Ratchadapisek the asking price for 52 sq m is 2.7 million baht - $81K.

 

Older 50 sq meter units in the centre are more likely to go for around 65,000 baht per sq m minimum =  almost $100K. Obviously there will be little tucked away sois where you might find even older units closer to your range, but I think it will be difficult.

 

Sorry I have no idea how to go about renting. I do know that in my condo building there are now quite a lot of empty units because renting for many months seems of less interest to owners. It's either airbnb type short term one or two week rentals or a couple of years.

 

As for mortgages, until few years ago foreigners were not permitted to purchase in Thailand using a mortgage. There has been a slight easing of the rules but only by a few financial institutions and I understand the terms and conditions are stricter than in western countries. 

[TMax]

As stated above you most likely will not find an apartment / condo in central Bangkok (or anywhere in Bangkok) for that price range. You also need to be aware of the current problems with airbnb, they have lost two court cases that have ruled airbnb illegal on the grounds that it breeches the hotels act, this is mostly affecting the nightly / weekly rentals (the main rentals on airbnb) but they say monthly or longer are okay but for how long is anyones guess. I retired 3 years ago and have toyed with the idea of purchasing a condo but so far have resisted, most likely if I ever do decide to move to Thailand to live I might buy one. Check out the link below, it will give you a good idea of condos for sale and the prices https://www.hipflat.co.th/en

 

Some advice given to me by a friend that has purchased there, if buying, always go through a reputable real estate agent and not be tempted to a purchase from a private seller as some people have been taken for a ride that way. Also it may pay to have a legal firm check everything out for you, just to be on the safe side.

 

Oh a link about airbnb and whether it's legal or not. https://www.bangkokpost.com/news/general/1467442/airbnb-bookings-illegal-court-declares

[faranglaw]

Desr Husband does not think it is possible for farang to get mortgages.

 

Also very doubtful you can get a centrally located apartment for $50K US. Fifteen years ago, maybe.