Retire in Thailand?

[Guest rentalb123]

Many of the members here seems to be expatriates from the UK or the United States. I find myself growing tired of corporate america and am toying with the idea of taking an early retirement in or around Pattaya. I might get qualified to teach english as a second language for something to keep me centered, but in essence take a break for now.

 

I am thinking I will keep my place in the states until I get a better idea of how this will really go, plus I am under 50 so cannot move permanently yet anyway.

 

Wondering if any of you could offer a "General" cost of everyday living in Pattaya. I understand spending money is a personal amount and it appears that rents run the spectrum, however, am curious as to what it seems to be on average to live there. What do you pay for utilities, health insurance, what do most spend on everyday expenses?

 

To me one could live pretty well on $5000 or $6000 a month US. Does that seem to be correct to those of you who currently reside there?

 

Thanks in advance, and any other thoughts or issues about the move from those who have done so would also be welcome.

[Guest taylorsquare]

One could.......and some do........live on a Government old age pension of roughly 32000 baht per month.

Living on 5k US a month i imagine you would live like a king.

 

www.thaivisa.com have a lot of info.

[Gaybutton]

To me one could live pretty well on $5000 or $6000 a month US. Does that seem to be correct to those of you who currently reside there?

If you have that amount available to you, then you should be able to live quite well and maintain a lifestyle to which you probably have become accustomed. That's more than enough.

[Bob]

As GB said, you could live a very high life over here on that amount.

 

Besides housing (which varies according to taste but may be anywhere from $350 or so a month to, at the very high end, $2,000.00 a month including utilities), I'd think you'd have difficulty spending another 3,000.00 a month all the time. Heck, that's about 99,000 baht and you'd have to spend 3000 baht a day or more for food and leisure activities.

 

When I used to come for 3 weeks, I did spend that kind of money but I was going to the bars rather regularly, doing all the tourist stuff, taking a trip here and there, etc. Now, there are days of the week that I don't spend 1000 baht in a single day. I only go to the bars once or twice a week (and 98% of the time that's a drinking bar and not a gogo bar). But I suppose it depends on the lifestyle you want to lead.

[Guest rentalb123]

One could.......and some do........live on a Government old age pension of roughly 32000 baht per month.

Living on 5k US a month i imagine you would live like a king.

 

www.thaivisa.com have a lot of info.

[Guest rentalb123]

While king would be nice far be it for me to aspire to such lofty goals. I am assuming 32000 baht a month for rent but what about medical insurance cost and basic utilities (Electricity, cable, phone) for those living in the country? What do you find yourselves spending for food per month?

[Gaybutton]

I am assuming 32000 baht a month for rent but what about medical insurance cost and basic utilities (Electricity, cable, phone) for those living in the country? What do you find yourselves spending for food per month?

Unless you are planning to live in a very expensive, high-end residence, I doubt you'll spend that much per month for rent. Depending on where you live, rent for most farang ranges from 12000 to 25000 baht per month.

 

A friend of mine was renting a large two-story house in a quiet security guarded residential neighborhood, 3 bedrooms, two bath, in excellent condition and furnished, with plenty of space and plenty of yard space, and even an adjoining room that was large enough to use as a guest bedroom or large utility room. He was paying 25000 baht per month. Deals like that are readily available. As a matter of fact he just moved away from Pattaya and that house is now available. Another friend recently moved into a beautiful large 2 bedroom, 2 bath apartment, fully furnished, at Jomtien Complex for 25000 baht per month.

 

You would have to use a lot of electricity to receive bills greater than 4000 baht per month. Again, most farang I speak with receive bills that range from 1500 to 3500 baht per month, and it usually depends on how much they use their air conditioning. My friend with that house I mentioned was getting electric bills that averaged 2000 baht. My own electric bills usually range from 2000 to 4000 baht. In the hot months I use my air conditioning and that's when I usually get the bills in the 4000 baht range.

 

Water is very inexpensive and probably won't even be a factor for you. I can't imagine that you will get city water bills that even reach 500 baht per month.

 

Cable TV, depending on the service and selections you want, will probably average around 1500 to 2000 baht per month.

 

Internet service probably will cost between 1000 to 1500 baht per month, depending on the service you get.

 

Telephone. A land line for my ADSL costs me 139 baht per month. Mobile phone, again depending on the service (One-Two-Call seems to be the most popular) is about 3 baht per minute. There is no charge when receiving calls.

 

Food is impossible to predict for you because of such a wide variety of choices and price ranges. In Pattaya, you can literally choose for yourself how much you wish to spend. The average dinner will probably cost you between 250 to 450 baht, depending on what you eat and where you eat. High end restaurants will probably be about double to triple that. If you have drinks and/or wine with your meals, the price goes up. If you have your own place, you might choose to cook at home on a regular basis. You could even hire a cook, if you really want, for about 4000 to 5000 baht per month.

 

Public transportation on the motorcycle taxis and baht buses probably won't cost you more than 200 baht per day, if that much.

 

When you're talking about insurance, you didn't say what kind of insurance. If you mean health insurance, there is a wide variety of companies and plans. The price depends on your age and any pre-existing conditions. Probably the best person for you to contact with regard to medical insurance is Travelerjim.

 

If you're talking about other kinds of insurance, such as car, motorcycle, home-owner's, or whatever, let us know what kind you're looking for.

 

In any case, if you have $5000 to $6000 available each month, I can't imagine that you would have any financial problems and unless you're going to live on the high end every day you probably won't spend near that much per month here.

[Guest rentalb123]

GB, thank you for the informative and comprehensive response. It was lengthy and I am sure took some time to prepare, and I sincerely appreciate your taking the time to respond with such detail.

 

I see what you mean, it is actually cheaper than I imagined for day to day living expenses. I do not need the playboy millionaire lifestyle, lol, nor am I one, I was trying to base the cost on my experiences in Pattaya, of which I have spent substantially more each night going out and eating well. However, it is true that should I live there those activities would not be a nightly endeavor.

 

I am not thinking I will get a car as I think public transportation is more than adequate and will try and touch base with TravelerJim on medical insurance cost. I am sure I can get a quote from one of the international providers also, was just looking for a feel of what I might expect in that area. I am 43 and in relatively good shape so not expecting an exorbitant amount for this insurance, it is just not something I am comfortable being without.

 

Based on your numbers $2000 a month would pay for all expenses (using 25000 baht for rent which appears to be more than enough as I was just thinking 2 bedroom condo) including food, the only other cost being insurance, entertainment money and travel money back to the states on occasion. All said and done sounds as if $3000 or $4000 would cover it all quite well and less if I cut down on rent.

 

With the potential of actually having income from doing some teaching on the side monetary outgo each month could actually be under $3000 a month. Almost seems wrong when I think what it cost to live here in the states.

 

Thanks again GB and if anyone has a feel for the medical cost if you could shoot a quick note that would be great.

 

Thanks,

 

Steve

[Gaybutton]

With the potential of actually having income from doing some teaching on the side monetary outgo each month could actually be under $3000 a month.

Some may disagree with me, but my advice is to forget all about teaching. If you are considering teaching English on your own, you need a work permit, which won't be easy to get. If you're considering teaching at a school, the school will get you a work permit, but everyone I know who tried it didn't last very long. The salaries are quite low, but the demands on your time are quite high. There are also a great many other problems associated with it.

 

Based on your posts, it does not seem to me that you are going to be in need of supplemental income. $3000 per month is plenty to live quite well here unless you intend to do a lot of high end expensive living. Of course, the more money you have, the merrier, but you don't appear that you'll be in need of it.

 

Given the choice of having to wake up to an alarm clock, spending about 8 hours a day in a school, dealing with kids, parents, and all the associated bullshit, dealing with paperwork, etc, and all for about $700 per month if you're lucky enough to get that much, or waking up whenever you feel like it, doing whatever you please during the day at any time you wish to do it, and maybe heading for the beach instead of a school, I don't think I need to spell out what my choice would be.

 

Again, some will disagree with me, but my advice is if you're going to retire, then retire.

[fedssocr]

I agree on the teaching thing. But 43 is very young to be "retired". You will definitely want to find some sort of hobby to keep yourself occupied and your mind engaged. Since you will necessarily been living in more than one place maybe you could have some sort of part time job when you are at "home" and just enjoy your time off when you are in Thailand.

 

I am basically the same age as you. And while I would like to not be doing my current job, the money and benefits are too good. :-) Maybe when I hit 56 I will take that early retirement. I think after a short while I would be bored to death in Pattaya. So if it were me I would likely live in Bangkok instead where there is more culture and more things to do. I would imagine it is a good bit more expensive for what I would consider to be acceptable housing in the sort of location I would want to be in. But maybe not... And Pattaya is just a short drive away when/if you really need it.

[Guest lvdkeyes]

My thoughts, for that they are worth, if you can afford to retire at any age, do it, unless you really love working. I retired 5 years ago and love it. I find plenty to do to keep from getting bored. I rarely go to the beach anymore as I find it boring most of the time. I very rarely go to the bars. I have a bf who keeps life interesting. We travel around Thailand and out of the country twice a year on average. Life is good and I don't miss working at all. After working in a female dominated profession and supervising up to 60 of them, I was ecstatic to retire.

[Guest fountainhall]

43 is very young to be "retired". You will definitely want to find some sort of hobby to keep yourself occupied and your mind engaged . . . I think after a short while I would be bored to death in Pattaya. So if it were me I would likely live in Bangkok instead where there is more culture and more things to do. I would imagine it is a good bit more expensive for what I would consider to be acceptable housing in the sort of location I would want to be in. But maybe not... And Pattaya is just a short drive away when/if you really need it.

 

I'm close to what most people regard as retirement age, but I happen to really enjoy my work. I have cut down a lot and so I guess have the best of both worlds in that I have much more time to enjoy myself, yet still have a bit of income. I do agree with fedssocr. I have lived in Bangkok more than 8 years now. Yes, rent is more expensive here, as is transport and nightlife. But there is not much difference in other costs. I have had many enjoyable visits to Pattaya, but would get pretty bored if I lived there full-time. I know - it's horses for courses, and I just happen to prefer being here.

 

The other point to consider is that there really are lots of other places to visit and get to know in Asia. If you get bitten by the incurable Asia-bug, you will certainly want to explore other countries and perhaps find one that is more suitable to your tastes and desires than Pattaya and Thailand. So I'd keep my passport handy and a very open mind in the early stages.

 

Last point. I totally agree with the comments about teaching. Unless you want to be considerably overworked - and stressed out by the Thai education system - forget about teaching!

[Guest RichLB]

Add me to the list that counsel against teaching here. If you have previous experience with teaching in the states, you should know it is not the same here. The schools will expect you to maintain a presence on campus all day - even if you have nothing to do. The students are a mixed bag of lethargic, unmotivated drones to energetic and eager to learn charms - but unfortunately, the administration is likely to only be concerned with maintaining a steady flow of tuition and you will be expected to cater to those most resistant - often to the point of fabricating evidence of non-existent progress. And in the case of you not having previous experience teaching, this is certainly not the place to be initiated to it.

 

As to being bored, I would be surprised if that was possible in Pattaya. While the city is best known for its nightlife, there is much more to living here. There is an active expat community, abundant opportunities for charity work, and just getting day to day errands accomplished can be both time consuming and an adventure. Boredom is an issue only for the most socially inept.

 

And finally, the budget you are considering is adequate, but I think you'll find you will be spending closer to the 4k mark than the 3K some have suggested. Unexpected expenses pop up all the time and if you have a bf here (which you undoubtedly will) Mama is going to get sick, papa will need new glasses, and the whole "buffalo sick, chicken die" thing is going to arise with annoying frequency. But, luckily, it sounds like you have enough reserves to not be concerned with that. So, come to Pattaya as soon as you can and enjoy the same life the rest of us do.

[fedssocr]

Boredom is an issue only for the most socially inept.

 

I prefer "introvert". :-)

[Gaybutton]

the administration is likely to only be concerned with maintaining a steady flow of tuition and you will be expected to cater to those most resistant - often to the point of fabricating evidence of non-existent progress.

A close farang friend was fired from his private school teaching position in Pattaya earlier this year, without cause. It was his refusal to fabricate progress, among other similar issues, that caused it. For example, he actually caught, red handed, some Thai teachers at that same school who had made copies of an exam he was about to give, and they provided the students with the answers. And that was just one incident. There were others.

 

He fought back. He sued the school for breach of contract. It took months, but when the case finally appeared in court, the school offered a settlement for less than half of the amount he sought. On the advice of his attorney he accepted the settlement. His attorney told him if he refused the settlement he would still almost certainly win his case, but the school could drag it out for years. If he accepted the settlement the school would have to pay up within 30 days. He chose to accept the settlement. For him it was the principle of the matter, not the money, that was most important to him.

 

He is hoping that the fact that he stood up for his rights, fought back, and won will inspire other honest teachers and make them see that they don't have to feel forced to put up with the dishonesty and intrigue that goes on.

 

The point is that much more than just dealing with students and demands on time are at issue, and you would have to deal with all of it. Horror stories about teaching in Thailand are common. My friend sued and won, which is quite rare to happen in Thailand. He is an excellent, experienced teacher who loves his work and was devoted to it, but after all he went through, he does not wish to be a teacher in Thailand again. He loves teaching and giving it up is difficult for him, but he feels that the peripheral hassles are just not worth it.

 

If anyone wishes to teach in Thailand, I urge you to first talk with people who have done it and make sure you are fully aware and fully understand what you would be stepping into.

[Guest]

Presumably shoddy education standards are one of the other things that holds the Thai economy back (along with corruption).

[Guest Astrrro]

I spend about 45K baht a month plus about 2200 USD per year on international health insurance I bought thru TJ.

 

I don't mind living on the cheap.

 

I like eating Thai food and spending more money in the bars wouldn't make me happier.

 

If I had more money, I would enjoy travelling more.

[Guest fountainhall]

I spend about 45K baht a month plus about 2200 USD per year on international health insurance I bought thru TJ

 

Can I ask if you rent a condo or own your own place, Astrrro?

[Guest Astrrro]

Can I ask if you rent a condo or own your own place, Astrrro?

 

Rent is 9K a month.

[Guest fountainhall]

Thanks. Last question: does the rent include internet and cable TV?

[Guest Astrrro]

Furnished room with big balcony includes free internet and cable TV. Also has a common swimming pool and elevator, daily cleaning (sheets and towels changed twice a week) and a friendly staff.

 

Electric and water extra.

[Gaybutton]

The bottom line is that it is quite possible to live in Pattaya with a relatively small income and still be able to live nicely. If you prefer Thai food and the countryside, you can live even more inexpensively. You don't have to have big bucks to be able to live decently and enjoy living in Thailand.

[Guest Astrrro]

I know guys who pay only 6000 for rooms and they're quite nice although you won't be getting a pool at this price point.

 

Price drop a bit beyond 3rd Road, but most guys there have a bike.

 

Some guys don't like aircon and would rather rent a place year round so they can store stuff. There are some nice 3500 baht rooms around that are perfect those in that situation.

 

What makes Pattaya expensive is the temptation to spend money.