If Only We Knew This Sooner We Could Retire Here On Social Security
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- เผยแพร่เมื่อ 26 พ.ค. 2024
- If only we knew this sooner we could retire here on social security.
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We break down what it would look like if you retired on social security now using the current numbers released. We will share what your accommodations would look like and what you can expect your life to look like while living abroad on social security.
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Our son-in-law was rushed to Bumrungrad (sp?) Hospital for a serious illness. We flew over there for a ten day stay while he was there and were unbelievably impressed with his medical care. All of his health care workers were educated in the states… Harvard, Tufts. It was the cleanest medical facility I’ve ever seen and the cost was so cheap. They had to pay for his almost three week stay in a private room with a balcony, kitchenette, and couch when he was released. They would be reimbursed by their insurance company, I went to pay for his stay with a credit card and it was less than $2000! The care was exceptional.
Bumrungrad is where it's at. Five star treatment and facilities for nothing. If I ever had a medical issue in US, I will hop a plane in US and go straight to Bumrungrad hospital in BK. Even if you pay for a last minute flight, plus the care out of pocket, it will still be cheaper than your deductible and you get a luxury vacation out of it too - massages, delicious food, beaches, etc.
I had dental surgery at Bumrungrad. Excellent care for a fraction of the cost in the USA.
We are very privileged as Americans to be able to have these options. I used to be annoyed that I had to file taxes in the US every year as an expat. But recently I have been thinking that, it's often because of my educational background in US, work experience there, my native language etc that I am able to get such top jobs abroad and an "easy life" in developing countries so it's the least I can do. I have an "easy life" as a middle class person abroad (no longer possible for middle class Americans in US) but then invest my US dollars in Vanguard back home. A true privilege due to the accident of my birth on US soil. #gratitude
Yes, I agree 😊
Love Thailand! As a 63 year old retired black American lady, I know how wonderful life can be living in an Asian country. You will never have to clean or do your laundry ever again. My husband and I are definitely considering living in Bangkok in the future. We will visit our family in America a few times per year, or they can come visit us. The lifestyle is like living in a dream.
Currently 52 and planning on Selling the house and moving to Thailand next year. Will invest proceeds of the house sale to live off of until SS and 401k kicks in at 62.
you should look into the 55 rule, irs allows you to withdraw from your 401K without penalties if you separate from your position after 55. i do not want to get to deep into this on this forum but other rules apply so look it up. your 52 just three more years and you can access your 401k, just think about it 🙂
At 56 sounds like a great plan.
Incredible video. My wife and I are 45 and 49. Looking at doing exactly what you're doing. We are New Zealanders
Very helpful! Thank you!
Great info ! Love your videos.
Great information, thank you!
Thanks for all of this fabulous information.x
You guys are the best! ❤🙏
Once again an amazing vlog packed full of useful and informative information. Thank You!
Excellent video. Thanks for the information.
really enjoyed this
It's definitely enlightening! And many, many thanks!
Always thankful for your continued information AND inspiration that retirement for me is still possible. SAFE travels to you!
You provide such value ~ wealth of information ~ y'all are a blessing! Thank you. 💙
It has been very enlightening indeed. Thank you for sharing, so helpful.
Thank you both for all your hard work and dropping such valuable information on these videos. I look forward to each of them! I’m feeling so inspired to follow my dream of traveling the world. ❤
Thank you both for your time. Informative and surprising video. I’m 57 and want to travel. Your videos have provided priceless information!! Cheers from Calgary AB
Awesome video!
Thanks for breaking this all down.
I like how you added everything up, very rationally. 👍💰🌞
Thank you for sharing! Always love your vids! Liked and already subscribed!
Awesome! Thank you!
Yet again, you are a beacon in the fog of our future plans of doing what you’re doing. Your videos are so helpful and inspiring and they give me the confidence to do what you’re doing and not really worry about what anybody else thinks everybody already knows I’m crazy. I’m really excited to get this lifestyle started. I just have to figure out how to get two dogs to Asia.
This was so great! Thank you for all the info!
Glad it was helpful!
Nuce video. Thanks for the info. World if Hyatt cards are back on your link site. I just used your link for the business card while i garden chase at 4/24, but the application is under review right now. Hopefully good news soon 🤞🏼
I’m glad you shared this information. I like when you break down the information. Your apartment building sounds & looks great . I would need all the convenience & amenities it offers bc I’m in my 60’s pretty healthy but I like things to be close by where I live. I will be watching your other videos to prepare for the retirement visa & my move. Thanks again for the content🙏🏾❤😊
Exquisite video as always. Love the facts presented!
Thanks!
Great morning, on the train listening to the replay 💜💙
Excellent video!❤
Very enlightening. Thank you. Hope many more US citizens view this. I will certainly try to watch more of the Asia videos. I'm also a numbers person, so the examples and cost breakdown are useful. Be well.
don't forget you also need visa, and cost of visa runs. or perhaps 800K baht into a savings account for a retirement visa or monthly income (don't really want to get into the rules just do a search in youtube). good video!
The visa rules just changed. 60 days for visa exempt. 180 days if you are a digital nomad.
Wow! Eye opening
Great video and useful to have an idea of cost. Really doable.
The ‘visa run’ weren’t included so that would be an important cost to think of.
Thank you for this review. I plan to retire in 3 years and will add the Asian countries you mentioned on my bucket list. I have traveled to Japan several times and currently traveling Europe.
Thanks for the information.
I'd really like to know whether the bad air quality and heat should discourage persons.
Thanks!
Thanks so much!!
Wow, your titles are so clickbait worthy and incredible! This content is non other. Right to the point too!
Question: do you run an LLC for your channel? If so do you deduct travel costs?
This is beautiful.
There are no words to describe how helpful this was for me & my hubby. Such a sigh of relief even though we figured we could do it. Thank you, thank you 🙏 🙏 sooooo very much for validating in the simplest of terms how this would work. Which insurance do you have & do you feel given what happened unexpectedly, that you should have chosen a smaller deductible?
great for couples. I am single so that nice apartment is out of my reach. But the other one isn't bad. Singles always get the short end of it.
Seriously!!! But it does have its positives, too.
I am solo as well and it's tough to compete with the financial power of couples bringing in double the incomes, pensions, savings or whatever and in addition getting half the costs. Recently there is a phenomenon of people in the west selling their assets and doing the same thing with their ridiculously fat pensions. In the US government pensions are absolutely insane, I have a friend who is a teacher, retiring at 60 getting $6000/month guaranteed pension for life.
@@karinajackson2779 yeah you get a life full of PEACE which is PRICELESS
@@sbkpilot1$6k teacher's pension ? Could you share what state/county that is?
That $450 apartment. Is all I could ever want! Did u SEE that rooftop pool & the views from the treadmills at that gym? I would never leave the building lol
You give my husband and I such inspiration!! We have the potential to live a good life and not struggle here in US. Hugs 💕
Circling back to medical. Is there a resource one can check into to see costs for medications one is currently on and if available in that country? And what if you want to do it only for a few months at a time vs a whole year?
oh the discussions you've sparked! Do you have any concerns about any major change in the exchange rates and what happens if the US $ changes drastically?
How much do you spend to keep your US sim active?
Love all your videos and SE Asia is on my list when I began my slow travel adventures; are y'all considering traveling Mexico like you travel SE Asia in the near future? Or "just" sticking to SE Asia?
you can have an easy life in SE Asia, no need to go any further
Guess financially it's easy, but not being able to meetup with friends n family would be tough for me. Thanks for the post...it's very informative. Plus I always get the feeling like I'm a foreigner, especially if you don't speak the language. Have fun
Wow...Thank u..,I didn't know....🥰
Welcome 😊
Enjoy to watch your videos, especially when you guys explain about credit card. Regarding your budget every month, are those including going some other places in that country as a visitor?
Especially bangkok there is lots of places we can go and see.
Asian country always the cheapest places to spend for vacation.
Thank you for sharing your discoveries and in this podcast, appealing to those of us whose income is lower than your combined income might be. You inspire me to take off... and with a dangerous election pending in the U.S., more and more of us may soon be looking for alternatives to our native land.
Be careful all… on the electric bill. I go to Chiang Mai and get a place for $400, plus electric. If you run the A/C, the bill can be a big surprise! It is hot most of the year. And, with the burning season, you need A/C. I paid a little over $200. It was a window unit, so I’d turn it off when I wasn’t in the room. I love Chiang Mai! Great info! 🙏
Good video! Thank you!! Great points. My wife is from the Philippines, and I'll retire next year. We plan on initially living there Parr time. When I can prove to my wife that I can handle living there, I plan on staying full time. 2000 bucks will be a good life there. Excellent point you brought up about end stage life. I've discussed with my wife that I want to live my later years there just for the reason, as you stated. Live in a nursing home in the US for outlandish costs or live at home in the Philippines and have your own private nurse and doctors who will cater to you at extremely low prices? No choice at all!! Take care!
Thank you for this video. I would appreciate when you go to other countries to do a breakdown for a single person like you did for Thailand, to see if it’s affordable or it’s a country to skip.
the store looks a lot nicer than in the USA
@ GroundedLifeFinances. I sincerely appreciate your take on the Bangkok area. We are a couple of years out from living the nomadic life. My big concern is the crime in Bangkok. I know that there are some serious crime issues in Thailand including sex trafficking.
Like any big city, there is crime, I get that. Could you speak to this in a future TH-cam video?
I remember going to one of those "cook your own meat" Japanese restaurants at Atlantic Station in Atlanta. It cost about $90 ,lol. I am completely loving Bangkok just after two weeks of being here ❤ ❤
another great video, your advice is always logical and practical! What website can you book a monthly rental at The Bangkok Sathorn? Having a hard time finding it on Airbnb.
Another great one guys!
Do you still have a fee for a carrier for your US SIM card that you keep in your phone?
You guys look great for people on social security.
They're not on Social Security yet...they said that in the video. 😊 Ciao
@@TheSicilianLife they're millionaires most likely but don't talk about it
@@fs5775 They are very open with how much they make on their TH-cam channels and even share what they do with stocks sometimes. If they decide to tell their total net worth, it's up to them. 😊 Wishing them all the success.
Ya'll are the bomb diggity.!!!! I would put visa cost in there as well, especailly in Thailand where the "regular" US visa is just 30days. You're right, Vietnam is cheaper and also the US visa is now 90days. For the people concerned about the language barrier..... it is more of an issue in Vietnam than Thailand but not enough to have major issues in either place's biggest city (Ho Chi Min--Bangkok). Although Danang, Vietnam did have a more of language barrier than we liked, it is still one of our favorite places. Thailand is #1 for everything though!!!!
Only issue with Bangkok is that it can get very hot and humid with poor air quality. Option to go to a beach town.
Thank you for this comment - it's an important issue as the climate continues to warm.
Another great video... thanks! It sounds so tempting to retire to somewhere in Asia however I just couldn't cope with the heat and humidity of the places you mention. I live in Brisbane, Australia and that is bad enough! Do you think there are any countries/cities that have cooler, less humid climates that are as affordable?
Yes, are there any affordable countries that have a cool climate?!
Look into Ecuador! Eternal Spring there. Fantastic weather & similar cost to Thailand. 👌
Bulgaria, is very cheap and cool
Every time I watch one of your videos about housing costs in SEA I am reminded how I made the right decision to be my 2000SF 3 BR 3 BA house on 10 ac at the bottom of the market (2013). My mortgage + taxes+ insurance is $1100/MO (30 yr mortgage), $45/MO for electricity. Of course my health insurance, currently COBRA, is $800/MO. And I have to pay for car. So lose lose there too. I plan to leave the US and look forward to checking out these low cost countries.
I can't wait to do this. Loved living in China and look forward to going there and to SE Asia. Selfishly though, I wish not as many people saw these awesome videos because I don't want a large number of Americans to go there and start driving the prices up!
How do you handle your taxes living as a nomad traveler outside the US?
Wow! One short trip to an ER in USA can easily cost over $5,000! And that's for a relatively simply medical or ortho problem.
No $10700 and nothing was wrong with our daughter after all
$1000 for food is insane!
I agree, especially in Thailand. We spend around $800 in the US which includes eating out occasionally on the weekends.
Right? And that’s groceries, restaurants, night markets, street food & im thinking an adult beverage or two.. for 2 people!!! Good grief…
SPOILED
A Grand for food? That's almost my entire budget.
That's what I was thinking! Our monthly budget for 2 is $400-$500.
Have you thought about doing consultation phone calls or zooms for a fee? I would love to speak with you two one on one for some more specific information. I think others would as well. Thoughts??
How is the health insurance with pre-existing conditions?
Any insights on how I can travel through south east Asia with my chihuahua. I’m wondering if it’s difficult to do boarder crossings with a dog. Or if I can go from country to country by train with my dog or maybe I have to rent a car? And what about accommodations with pets in these countries? Impossible??
Hi, what type of visa can American citizens apply for long term residency
QUESTION: First-I love all of your videos thank you for making me aware of other options question is when considering renting how does the utilities work ..meaning is it an issue putting utilities in your name or do most places utilities are included in rent?
It's included on Airbnb usually
what about getting around in a wheelchair? water taxi? regular taxi ?
Do you use safety wing for medical? Do either of you have any pre existing condition like high blood pressure or cholesterol? They told any heart related issue wouldn't be covered because of it.
was that from thailand property website for bangkok sathorn ? I’m interested to rent from them. How long to process the rental ?
How did you find those apartments?
Maybe it's because I never saved for retirement, but I feel a strong need to budget funds above and beyond my living expenses - even as I ease into full retirement. At 63, I get $2500/mo. from Social Security and a small pension, and that still doesn't feel like enough. I'm lucky because I earn an extra $2000/mo. from my small business that all goes into high yield savings to build a nest egg. But you always feel one crisis away from homelessness.
Please cover visas.
How long can you stay in Thailand? Can you leave for a day and re-up your visa or do you need to leave for a certain amount of time? Can you get a longer visa?
Hello, I enjoyed this video. I do have a question. I’d like to know how accessible countries like Thailand or Vietnam are for people with disabilities? I’m hard of hearing and am visually impaired as well, so accessibility is something I have to take into consideration since I’m thinking of an overseas retirement in about 12 years or so. Thank you! ❤😊
Hi I was interested in your stay in Bangkok,did you have any health problems with the amount of air pollution? Thanks
Have you guys tried living in the Philippines? Thinking of staying there on an extended period of time when we retire. Wonder what our expenses would look like if we live there. I’m still years away from my early retirement of 62. But my husband is now fully retired with about $3,000 a month pension.
Please tell me, if I have food allergies (celiac) will I have problem eating there? I’m highly allergic to Wheat, Barley and Rye. And if I do. How are the hospitals?
Love your channels! I wondered about going to church, faith communities, in these far off lands. If one is religious, how does that work, services/masses not in English? Thanks!
My husband and I are planning on doing slow travel in about a year and attending church around the world was a concern for us. But we have done research and many countries now have services in English. We believe that being in community with other people of faith from around the globe is very doable specially if your are doing slow travel where you are staying in a particular city for 2 or 3 months at a time.
Do you guys live in the kingdom?
Can't believe I'm late🥵
QUESTION. What is the quietest place you have been?
How do the locals treat foreigners?
Is it true? I heard that you can fly from Thailand to the Philippines. Or Vietnam for a $100.
What about the 30% Thai tax to be levied on YOUR money coming up?
Bangkok looks fabulous. By being an English speaking person only, how much difficulty to communicate over there?
I love your videos By the way.
Not as hard as you might think, given the alphabet is completely different. I was in Thailand for three weeks in the winter of 2017 - Chiang Mai, Pai, and Bangkok - and the most complicated interaction I had was getting my hair cut in CM at a salon where no one spoke English. But we worked it out! Knowing a few basic sayings will help you navigate day to day interactions, and there are a lot of Thais who know English in the tourist/entertainment sectors.
Thank you very much!
@@carltonesmith5015 6
Sorry
you forgot visa costs which can be quite high, you can't live in Thailand continuously. Also, Airbnb prices around the world are absolutely skyrocketing... Thailand isn't affected yet but there is no guarantee that will be the case in the future as hordes of people flee the astronomical costs in the west and have the same idea it creates serious inflation elsewhere.
Portugal and Turkey's Mediterranean coast are prime examples, I used to find great Airbnbs in Antalya for $750 or so, now it's doubled or even tripled. This summer in the Algarve I saw apartments asking $3000/month which is absolutely ridiculous, but someone is paying that otherwise they wouldn't be asking that much!
That’s a concern of mine as well. Are we gonna go over there and mess up their country it’s happening in our own country where I live people from the north come down. there used to paying astronomical taxes so they don’t mind coming down here and voting for tax increases cause they’re used to it. Well that’s why the rest of us came here. The same thing is gonna happen in these other countries. I just know it and it makes me really frustrated.
I could live in Thailand for $2000. The biggest challenge might be a visa.
There are new visa rules. Much longer and easier.
And now, taxes - a headache.
@@pathkris2984 the trifecta approach is looking better and better.
@@mixnmichael1 Would that be Thailand, Malaysia and Cambodia - keep rotating every 3 months or so ? Thanks.
@pathkris2984 anywhere you like. Somewhere cheap rentals. Maybe Vietnam,Malaysia ,Thailand. I've never been to Cambodia.
$500 a month per person for food? Sounds like too much for me, though I don't have a high income.
Only problem is the 15 hour flights.
I stop off in Istanbul but I live on the east coast. Great city and relatively inexpensive given the strength of the USD. Breaks up the flight in half.
Very intriguing- but I am a medical marijuana user? Understand you have dispensaries in Bangkok - how difficult to get a m.m.license
Marijuana legal in Thailand. Shops everywhere.
so with 10k a month, one could live like a king
I still think America is the greatest country to live in, sure it has its issues but every country has a version of problems. I love the diversity of American soil and all the national parks. USA has plenty of inexpensive small towns in numerous states and you don't have to live aboard. In foreign places, you can find a better living arrangement but you will always be an OUTSIDER. You stick out among all locals and how do you make real lasting friendships? I'd rather live on American Soil and pay more. Either way, if you are an expat, you still pay taxes each year, so why not continue to reap the benefits of the country you pay taxes too?
@Moving.To.Charleston Great if you want to stay in the USA 🇺🇸 and have funds to do so. The USA is too expensive for others.
@@user-gh2lj7mc2g There are plenty of inexpensive smaller towns in various states.
Where would you go if you didn't love big cities? Are there any smaller cities or towns that you've loved?
Long way to grand kids in the US! LOL
Can one live on $800 per month there? For those who are not SS eligible yet...? Thanks!!
Lots of people do, you would just need to look at the cheaper housing. The coastal towns are also cheaper than Bangkok, like Hua Hin.
Do you think that's pretty low or is that considered a comfortable income over there? Thanks again.
@@clarissac1518 For Thai people to retire the Thai government project they need 10000 baht a month to retire. In other provinces out of Bangkok, or popular beach areas you could pay 3000 baht a month for rent. There is a new digital nomad visa just newly passed by the government. Pai is very cheap and is popular for foreigners to live cheap long term.