Chiang Mai - Cost of living

[TomC]

Originally Posted by howie444

But it is the costs that seem to be so different from different people.


Howie

My impression of reading ajarn dot com is that the starting salary for English teachers in BKK is about 30K baht and goes up from there. The figure that most often mentioned that they need to be comfortable is about 40K. That makes sense to me that your starting salary will be a little less than what it takes to be comfortable.

Salaries for teachers in CM were surprisingly low and seem to always be below 30K. My guess is that CM attracts the educators who prefer more Thai traditional culture, better weather and environ than BKK. With more competition comes the lower salaries. So my ballpark figure for CM would be 30-35K to be comfortable.

I heard that Thai office workers get about 10K baht. My Thai nephew said that he could live on 15K in BKK.

P.S. This does not include the health insurance cost which I assumed that the teachers would get through their employment. I have no idea since I've never worked in this field.

[howie444]

Thanks again TomC and Sirisak78. I am getting quotes from about 12 health Insurance companies ready for my departure in 2015. Even though I will be only 50yrs, I wont be working when in Thailand, my income will be generated from sale of business in England, also rent from properties I have. So have worked out will have approx B60000 per month to spend on accomodation (studio Combo), health insurance, food (street Thai food mostly), entertainmment (the odd beer) and other general costs and if I have each month any monies left, I will then save a little.

My planned existance will not be luxurious as this is the whole point, living very well in UK but bored, unhappy and as I said before I am not materialistic, the Thai way of life is something that will suit me far better than good old England!!I have visited Thailand I think now 10 times and will be visiting another 2 times hopefully before my retirement in just over 2 yrs time.

Thank you again for all your threads.

Howie

[relax222]

Hi
I love your post, I am also planning to vacate England in 2yrs time, and all that you have asked on this forum I am asking also. One thing I am also a little confused with is were is actually the most popular country for expats to retire to in south east asia...I presume it is thailand, but thought I would ask..thank you.

[Mweiga]

Originally Posted by relax222

Hi
I love your post, I am also planning to vacate England in 2yrs time, and all that you have asked on this forum I am asking also. One thing I am also a little confused with is were is actually the most popular country for expats to retire to in south east asia...I presume it is thailand, but thought I would ask..thank you.

For the past couple of decades Thailand has been top of the pops but in this time other SE Asia countries have been steadily developing and today provide very viable alternatives with certain advantages - especially less overcrowded and overdeveloped farang retiree destination plus lower living costs. In particular consider Laos and Cambodia. Malaysia has already been a quite popular destination for several years. Vietnam , for some , is also an attractive possibility.

I've been settled in Thailand for six years but if I was in your shoes with planned retirement two years away I'd seriously consider other SE Asian destinations. Before getting too fixed in your ideas plan a trip round all nine odd countries of the region , which is very easily done with excellent transport communications from virtually anywhere to anywhere , to evaluate all possibilities , Thailand included of course. A couple of months would do.

The other essential planning issue of living budget should also be carefully considered - the monthly THB 60,000 mentioned in this thread may be OK today (just) but the next few years can easily bring a further weakened GBP , increases in Thai prices , and it leaves nothing for the unexpected extra expenses which have a habit of appearing in a new and unfamiliar society very different from what you're used to.

[stednick]

Originally Posted by howie444

Hello

I have placed threads on here before and the answers were very helpful, thank you.
I am over the next 2-3 yrs gaining as much information as possible before I hopefully retire to Chiang Mai. I will then be 51yrs old, male, single, no dependants. I have lived a fortunate existance in the UK, lovely home, well paid job, etc. However have visited Thailand approx 10times and so love the country. I am not a materialistic person so i envy the Thai way of life so much, compared to that in the UK, were everyone has to have a better car, home, job etc then everyone else, for what..this has never made me happy!

This isnt a new idea of mine, I have been planning on paper & in my head for a few years now, but am having difficulty to put an accurate figure on the cost of living. I am visiting again early 2013 for 1 month but this is too short a time to get this estimate, hense this thread!

I hope to rent a Condo for approx B15,000ish per month, eat Thai street food (love Thai food, hate most English food). I hope to spend my initial years learning the Thai language at a language school, I don't drink too much.

How much will I need, I have a figure of approx B45,000 per month after rent of Condo, but am reading a few threads that this isn't enough, and I can't see why......help please...many thanks!

A simple, overlooked methodology of determining the "cost-of-living" in Thailand is to use the legal monetary stream required to meet the financial requirement of the Thailand "retirement" visa. The Thai government has determined that a "person" needs to have a 65,000 Bt/month income stream to retire in Thailand.

The Thai government has determined that this is the amount of money you will need to live in Thailand. So, for budgetary analysis use this as the figure you will need to retire in Thailand. Yes, you can live on less. No, you cannot qualify for a retirement visa with less.

Simple and basic analysis statement. "If you can qualify for a retirement visa, you can afford to retire in Thailand."

[howie444]

Thanks Stednick

When you think about what you have said..makes sense really! Although I wasn't basing the retirement Visa requiremnent on having 65,000 Bt/month, I was using the alternative of having 800,000Bt in my bank account at all times., so that is probably why I overlooked this.

But yes I do agree with you, the Thai authorities will have worked out that you need 65,000Bt/month to live a comfortable life.

Why did I not think of this (as you say) overlooked methology!!

Thank you

Howie

[TomC]

Originally Posted by stednick

The Thai government has determined that a "person" needs to have a 65,000 Bt/month income stream to retire in Thailand.

What do you expect the gov to say? 30K baht and get a bunch of borderline deadbeat farangs who might be looking for work? Of course, they're going to quote the high end to make the visa requirements. The gov also likes to empty out farangs' pockets of at least 65K baht a month, as it's good for the economy. And if it takes working girls to do it, so be it. Everyone will look the other way. But trust me, in the back of their minds, they like it that the girls are taking care of the poor families back home. Taking care of family is very important in this culture.

As it has been discussed, the cost of living varies with individual and life style. A Thai office worker gets about 10K baht a month and can live on that. My Thai nephew said that he can live on 15K in BKK. An English teacher needs about 40K to comfortably live in BKK and 30K outside of BKK.

[stednick]

Originally Posted by TomC

What do you expect the gov to say?

Tom:

I always consider the source before I decide on what to do with the information.

None the less, I'll respond; my statement stands on it's own.

"If you can qualify for a retirement visa, you can afford to retire in Thailand."


As far as "What do you expect the gov to say?"

In consideration of the competition, other countries that are actively pursuing Foreign retirees, I "expect the gov" to require lesser funds to secure a one year retirement visa. I also "expect the gov" would have less stringent check-in requirements. However, the law is the law. It is established, it is written, and it is enforced. Many foreign retirees have been put-off by the difficulty, complexity and uncertainty of the Thai legal regimen and selected more retiree friendly venues.

So be it.

Although they may, I do not "expect" the Thai government to make the retirement visa requirements any easier in the near future.

[KNJ]

Everyday living 30-45 000 is more than posible, BUT do not forget any initial set up costs:
Furniture, kitchen equipment car or motorbike etc.
Then there are running costs which need to be considered over a year:
Holidays
Car/Bike insurance
Health insurance
House insurance
Car/bike maintenance and fuel
Depreciation of car/bike
Clothes
Cost of pastimes/sports - golf, ( loss of 100 balls a year ) fishing ( averge cost per kilo of fish in fridge is in my case about 150 USD ) etc can work out a lot over a year
Cost in home country, - house rental management fees, tax on income, house insurance etc

[Song_Si]

^ good list - but no fisherman should ever admit the real cost of the fish!!!

if a person can get by without buying a car - that has to be the biggest single drain on finances, and loss when it comes to resale.