How Much Money You REALLY Need to Retire in Thailand

The exact amount of money you need to have saved to move to Thailand and retire is......revealed in this video.

This is the bare minimum that I'd recommend and won't afford you a lavish lifestyle. I know a lot of people whose cost of living in Thailand is much more but I also know a lot who live here very happily with this budget.

Tools to help you move to Thailand:

0:00 How Much Money to Retire in Thailand
1:21 Cost of Living
2:29 Part 1: The Hard Costs
2:45 Retirement Visa
4:21 Relocation Expenses
6:59 Your First Month in Thailand
7:56 Health Insurance
9:28 General Living Expenses
11:42 Total Monthly Cost of Living
12:43 Unexpected Costs
15:29 Grand Total You Need Saved
17:26 The Biggest Risk
18:57 Should You Do It?

[CameronFussner]

Retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My parents both spent same number of years in the civil service, but my mom was investing through a wealth manager, and my dad through the 401k.

[SaraNisha-fwuk]

I’m used to holding ETFs and bonds, but inflation is really eroding my portfolio. My concern is whether I would outlive my savings, its a little less than $400k at the moment. Every withdrawal seems to make it harder for my savings to recover through compounding. I feel like ETFs and bonds are limiting my returns more than managing risk

[firstinductive]

As Thai citizen, I would like to give you additional info.(Affordable version)
1.) Thai retiree median annual retirement cost is around 600k baht (17k USD) per person in 2023. (of course, assume they have their own house)
2.) Cost of condo in bangkok per 1 unit (1 bedroom + 1 bathroom + 1 kitchen + 1 dinning room) in bangkok is around 1-3 millions baht for lower tier type of building.
3.) Search online for expat community first, many retiree can not adjust right away!
4.) If you plan to have a kid here at retirement age. Make sure your partner know boundaries financially. (there are a lot of gold diggers but there are love as well. Example I personally know a japanese retiree (65 yr) who have a son with 33 yr woman and live happily in Chiang Mai with monthy pension of 55K bath and yes, he also working as japanese translator/teacher)
5.) Do not come to the country with zero thai langauge skill. you will get scam more than you realized.

[tvtriviachampion]

I moved to Thailand with 3 suitcases and shipped nothing. In hindsight I only needed 1 suitcase. Haven’t touched the other 2. You wear t-shirts and shorts everyday and you can buy those here for less than in Western countries. If I had my time again I would have bought 50% less crap while working and moved to/retired to Thailand sooner.

[JohnDoe-ivyu]

#1. If you are SHIPPING ANYTHING to Thailand, you are doing it wrong. Minimalism is the key to life, sell it all!

[LiamOlivia-]

I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.

[jeh]

I retired at 40, that was 32 years ago.
I have spent a lot of time and money travelling and living in various countries just enjoying the ride.
Now I have $820, 000 nest egg $3000/month pension.
72 years old now, guessing I have 10 - 20 years to live. No health issues as at today. The future still looks good. 😊

[ThailandWithoutTourists]

My budget last month in the south of Thailand was $400. $70 for electricity to run the AC 20 hours a day, No rent, $12 for internet, 60 cents for my flip phone, $2 for water, $80 fuel for car. $10 for car insurance. That's $175 without food. I eat out a lot and buy some foods for relatives. If I didn't eat restaurant food, it would be easy for me to live on $300 a month. I live on a paved road in rural Mai Seab/ Koh Khan. 1 mile to 7-11 and the freeway. 5 miles to KFC or hospital. 20 miles to Phattalung. My house is paid for.

[inCARSONate]

I "retire" 6 months a year in Thailand. The other 6 I'm working in the USA. Thanks for your motivation Sir 🙏🏻

[Rogue_Money]

We moved to Thailand and brought 0 boxes. Just 2 suitcases! THAT's a purge!

[caliinthailand]

I retired 5 years ago. I had a dream, move to Thailand, from the USA, and live out my golden years, I’m now 63. The reality turned out better than the dream. Thailand is the best life ever. I’d say a bare minimum of 45-50, 000 baht per month is necessary to live a really good life here, however, don’t forget to account for inflation over the years, very important.

[JohnnyTraveller]

You're spot on about being prepared before making the big move.
For a pensioner in Australia, their monthly income is around $1, 377 USD.
It's impossible to live on that in Australia as a lot of pensioners are finding out, especially those who don't own a home.
My wife and I are prepared for when we move back to thailand in about 4 years, we own a house here, rental income, and currently building in thailand, so no rental fees, best is always to plan ahead, and if we ever need to return to Australia, we'll always have our home.

[writeronthestormkyushu]

Chris, hard to express how much your helping me not just with budget info, but harnessing a fearless mindset to make the most of this one life we get. Thank you, brother.

[emmanuelfinley]

What I did was to travel to Thailand four times to see if I really liked it. Out of every where I went, I found that Chiang Mai was my favorite place to live. I've been there on the hottest months and the coolest months. Chiang Mai is where I decided to build a new house in a gated community. Actually, a walled community. I paid cash for everything, house, furniture, appliances, etc. When I retire next year, I'm only bringing one piece of luggage, and that's it. I'll buy a new truck and pay cash for it too. Then just save money every month because I don't have rent to pay, no taxi service to pay for, etc. I should be all SET. 😊

[michaelpendleton]

Hi Chris, I started watching you videos about three years ago. With the information you provided and my savings, I took the leap and moved to Bangkok last March.
The numbers and info in this video are right on almost to the dollar. My budget and living expenses are almost exactly as you described.
Keep up the good work.
Thanks

[Roberthobbs-er]

I moved to Thailand with a carry on bag and a small day pack. It was all that i needed. In fact i didn't even need most of that. Everything is available in Thailand including larger size clothes. i do have a friend with size 14 shoes which is impossible to find in Bangkok so if you have big feet bring some extra ones. Also, I am living on a monthly budget of about 1200 USD a month and it seems like plenty. I have an insurance policy from my old job in the USA which would cover emergencies. For minor stuff I just self pay. If anything major comes up I will just return to the USA.

[nixworld]

My countdown clock to retiring in Thailand is ticking away. 8 weeks to go! I’m selling or giving away all of my material possessions in the US. Boat, motorcycle, RV…all gone now. Have 2 rental properties and a nice retirement setup after 41 years of working. I intend to leave the US, for good, with only a rollaboard and a backpack. Very excited. Your videos continue to inspire and excite me!

[Susanhartman.]

The concept of mini-retirement changed my life. I'm no longer waiting for some retirement paradise when I'm 65. It helps to know how to fund the lifestyle. You know, making money while you sip that piña colada by the beach does help. I wouldn't have been able to do it otherwise.

[dennisspackman]

One more thing. Before going all in on relocating anywhere and retiring there is that vacationing somewhere is a different experience from actually living there. Take a temporary trip of at least a few months at the location you are thinking about and actually live there. Preview what living there will actually be like. You may find that location is not to your personal liking, lifestyle or meets enough of your expectations. In which case try some other places before spending a lot of your retirement funds making a full financial commitment

[garyzies]

To retire in Thailand, the amount of money you need will depend on your lifestyle and location. However, a monthly budget of $1, 500 to $2, 000 is often cited as a comfortable amount. This can vary based on factors such as housing, food, and other lifestyle choices. For a retirement visa, you may need a Thai bank account holding 800, 000 baht (approximately $24, 500) or a monthly income or pension of 65, 000 baht (approximately $2, 000) or more. It's also important to consider healthcare costs and other expenses when planning for retirement in Thailand.