Thailand in Southeast Asia is not only a top destination for tourists but also for retirees. A great number of people in their retirement age from all over the world are now living here. They have common reasons for picking Thailand as their new home.
The primary reason is the low cost of living in the country. Retirees in the U.S. and Europe who rely on their pension only can have a hard time budgeting if they live in their home country. If they move to Thailand, however, they have more than enough and can spend their extra funds touring the great spots in place or pampering themselves in a Thai spa.
As an example, a monthly pension of $1,200 can already let you rent a nice apartment with one or two bedrooms and enjoy three meals a day. You may even have extra from that amount which you can spend for your groceries, transportation fare, medications and some trips to the beach.
Food in Thailand is cheap and one can rent an apartment for as low as $200 a month. The best part is you don’t have to pay for your utilities because your rent already covers all the conveniences in the building even a gym and swimming pool. For those eligible to buy a property, they can purchase a condo or apartment for less than $100,000.
Medical costs are very affordable as well in this great country. Being a top destination for medical tourism, this Land of Smiles boasts of western-trained and English-speaking medical experts that can perform modern procedures similar to those offered in more developed countries but at a fraction of the cost. Common medications can also be bought over the counter without any prescription.
Going around the place is not a problem. With public transportation readily available, senior citizens can easily move from their homes to their destination. There are the tuk-tuks, taxis, buses, vans and sky trains to choose from and they charge very low fares. Retirees can also buy a cheap car for their personal use if they want to drive on their own.
The tropical weather here is a welcome retreat for the seniors who have lived in colder countries all their life. Here, they can enjoy the sun in most parts of the year with rains pouring down on certain months only.
Retirees planning to retire here need to first secure a retirement visa which they can get at a very low price. Basic requirements are proof of savings of $22,500 at a Thai bank and a monthly income of at least $1,200. The minimum age to be qualified for a retirement visa is 55 years old. The visa is renewable at the Thai immigration every year.
Photo via thailand-travelonline.com
About the guest author:
James is an expat who can attest to the affordable cost of living in Thailand. He recommends the Personal Finance Resource for Senior Citizens to retirees who want to learn the ways to spend their money wisely.