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Things you should know before retiring in Thailand!

Thursday, 27 April 2017
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Did you know that Thailand is one of the most preferred retirement destinations?

This land of smiles does not fail to put a broad smile on the faces of older people looking for a laid back relaxed lifestyle to settle in. Further with a lower cost of living, soulful food, warm climate, and easy access to retirement visa, Thailand nudges older people in its direction.

Retiring in Thailand

However, here are six things you should know before moving to Thailand.

  1. Comfortable life within limited income: The cost of living in Thailand is considerably low when compared to European or American countries. Purchasing a house or even renting a house is inexpensive here and all household utilities, food, transportation etc. are extremely affordable. Retirees can live a comfortable life here within a limited income.
  2. Scenic and warm: Thailand is all about scenic beaches and warm weather. If youÔÇÖve been shoveling snow all your life, then lying down on a beach chair, soaking up the sun and sipping a cool drink is exactly what you need. It will take some time though to get used to the warmth and humidity.
  3. Excellent healthcare: Healthcare facilities in Thailand are excellent and hospitals are well equipped to handle emergencies. Ensure you carry your international health insurance to avail the best of healthcare.
  4. Visa requirements: Retiring to Thailand will need you to meet the visa requirements which are :
    1. Applicants must 50 years and above.
    2. Must not have a criminal record.
    3. Must have not been denied visa previously to the country.
    4. Must possess a bank balance of 800,000 Thai Baht which is (about 25,000 USD) or a monthly income of 65,000 Thai Baht (about 2,000 USD) or savings and annual income combined, which then comes to a minimum of 800,000 Thai Baht.
  5. These retirement visas are good for one year and can be renewed without leaving the country.

  6. Smiles and Sunshine: Thais are warm, welcoming people and everyone smiles at everyone. so if you find that bothersome, then start getting used to it.
  7. Mai Pen Rai: Loosely translated, Mai Pen Rai means ÔÇÿNo worries, donÔÇÖt sweat it, everythingÔÇÖs fine, no problemÔǪÔÇØ. Mai Pen Rai summarises the Thai philosophy on life. Thais are extremely laid-back people, so if you are planning on retiring in Thailand, you need to adopt the Mai Pen Rai lifestyle or else you may end up feeling frustrated with the slow pace.

After retirement, your income may decrease. Hence it is very important to start investing and building your wealth while you are still earning.

Now, cheers to a happy retired life!

Last modified on Thursday, 27 April 2017 06:37