The Dark Side of Retirement in Thailand: The Honest Truth About Expats Who Regret Their Move
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- เผยแพร่เมื่อ 11 ก.ย. 2024
- If you are on your way to retirement and currently undecided if Thailand is suitable for you. You want to get a better understanding from others who already retired in the country. I think the info in this video will give you some fantastic insight into what to expect. Expats with years of experience, some over a decade or more retired in the country, giving their opinion on their current state of retirement living in the country. Was their retirement plan in the country a big mistake or a dream come true, or a little bit of both? What are some of the most challenging things they face? The first half of this video will mainly focus on the good aspects of retiring in Thailand. In the second half, we will include some of the downfalls you might face and how to overcome them.
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Thailand will not adapt to you. You have to adapt to Thailand
Exactly!
I’m calling BS on a lot of this video. It’s incomplete, misleading, and alarmist. I’m an American who has been coming to Thailand since 2015 and have lived here, Bangkok and Isaan, since 2017. This video is targeted toward retirees so let’s stick with that.
#1 Visas - You will hear, as in this video, that Thailand’s visa rules are always changing. Not so for retirees. The most common retiree visa is the nonimmigrant O visa and there have been no changes to that visa. There are frequent changes to tourist visas but we are taking about long stay (years) retirees, not short term tourists. The non O visa has financial requirements that haven’t changed and requires yearly extensions. If you have the list of document requirements and if you are organized then a once per year visit to Immigration can take anywhere from a couple of hours to all day to get an extension. It depends on the office and the crowds. I’m not recommending this but many people hire visa agents to help them through the process. It’s not necessary. I did my 1 year extensions at the Bangkok office 5x on my own. It occupied 1/2 day once per year.
#2 Rising Costs - if you buy imported goods you will pay imported prices. That has always been true and is probably true in your home country. If you thought you were going to reproduce your western lifestyle in Thailand, just cheaper, then you came with the wrong expectations. That’s on you. You will have to buy and eat local to realize the Thai lower cost of living. Believe me you are not giving up much by doing that. Plus the major savings on cost of living is the lower cost of residences. I don’t know about buying but rents are much cheaper than in western countries and you get good value for what you pay.
#3 Asian culture is different that western culture. I hope that is not a surprise to anyone considering retiring here or any other foreign country. It’s call “foreign” for a reason. You will have to learn and adjust. I’ve lived here 7 years and cannot recall any racism towards me. Actually, I may get a bit of deference accorded to myself for being a foreigner.
#4 Political and economic stability - Thailand had a military coup in 2014. I started coming in 2015 and living full time here starting in 2017. From my point of view as an expat, Thailand has been incredibly stable. Certainly stable considering my home country, the US. Since the elections in 2013 there has been a lot of political developments but none of it has effected expat living here.
#5 Health care - Healthcare in Bangkok is outstanding (from an American point of view). But even here in rural Thailand, Sisaket province, I have found equally good care at a private hospital in Ubon Ratchathani. It doesn't matter where you are, Bangkok or the provinces, public hospitals can be disappointing. Small local clinics for minor care are sprinkled throughout the country and can be very good. It’s true, if you come from a country with universal care then in Thailand you will encounter a private hospital and private insurance market. This is not unfamiliar to Americans.
#6 As stated toward the end of the video there is no health insurance requirement for the most popular non O visa for retirement. A private insurance policy is going to be a challenge to retirees buying into a policy at a later age. Not a surprise given how insurance is supposed to work. I bought a Thai policy when I was 62. I am now 68. I pay 78,000 baht/yr. I have a 40,000 baht ($1,200) deductible. Treatment here is so inexpensive that I have never had a medical bill more than 20,000 baht in the 7 years I’ve lived here. At some point old people will have to self insure for part or all of their health care. If you have an international health care policy from your home country you can use that.
#7 True. Air quality up north is pretty bad . . . so I hear. I’ve never been bothered by the air quality in Bangkok but Bangkok is a big city with the expected big city air quality. I now live in rural Thailand and the AQI out here is similar to Bangkok. I can only think it is dust from the agriculture fields.
#8 Corruption. I’ve never encountered it but I will believe other’s experiences. Regarding getting pulled over by the police. You almost never see police on the street. There is little regular presence. What is common is that police in parts of the city or on major roads in the countryside they will set up road check points a couple of time a year looking for driving violations. I usually get waved right through. Stopped once for a seatbelt violation.
What is new? Thailand implemented the 10 year pensioner Long Term Residency (LTR) visa. I switched from my OA visa to the LTR in January 2023. It has a steep financial requirement (passive income of $80,000/yr) but otherwise doesn’t require yearly extensions.
In recent weeks Thailand implemented the 5 year Destination Thailand Visa. This is mostly for remote workers but there are obvious ways this can be used by retirees.
This has nothing to do with retirees but the most recent change to tourist entries is a 60 day visa exempt stamp that can be extended another 30 days. It appears that there are no border run restrictions but we will see. Long term retirees cannot stay in Thailand on a tourist visa for long so border run policies are irrelevant.
Has the immigration environment changed in 20 years. Sure why wouldn’t it? That is true around the world.
Thailand still beats most places 2024. From Northern Europe and have lived in Thailand many years and cant wait to return! Thanks for reminding me to fix that ticket now. 😊
Retirement visa is easy. Extensions are easier.
There is a lot of blown up negativity in this video. 1. Food and eating out is more than half the price of the West. Unless you're living solely western imported goods. 2. Air pollution is high when farmers are burning crops, but that's only two months of the year. Mid Feb to mid April. 3. Marriage or retirement visa is easy enough once you know what documents are required and there are plenty of agents if you find it tiresome. 4. I agree about health insurance better to self insure if your 60+. 5. I have never come across corruption or been stopped by the police in the 15 years I have lived here. I am aware that it exists but the police tend to give falangs a wide birth. 6. I have never come across discrimination in fact it's generally the opposite, because I am a falang I am considered being of higher status and therefore treated with high respect such is Thai culture. 7. Thailand has a very respectful culture and Thai's are extremely polite and proud of their country. 8. It's a clean, beautiful country for the most part, especially in the mountainous north, so don't be put off coming guys.
The problem of this video is that it is a young guy trying to explain the retirement experience.
Thanks Trev, good info. i heard head down south during the smoky season. all i want is a comfortable inexpensive place to sleep and reasonable golf courses (not pricey) and a good massage after golf, not interested in Bars etc, just chilled interesting places and friendly locals so i can learn the Language and culture.
@@SteveSmith-zz4ih I think you would like Hua Hin. More up market and lovely white sand beaches.
@fastpistonx it's never been easier... DTV
Good news doesn’t get clicks on YT 😅
Don't base your retirement in Thailand move on a few monthly visits . Go rent a condo or house for twelve months and try it out first and you will find out it's different to a monthly millionaire holiday .
Retired in Thailand since 2 years, I would agree on most topics covered in this video. Except for the corruption part which I find extremely practical. An easy and very cheap way to get around red tape issues. Particularly for visa issues.
Cost of living here has crept up for sure from my 15 years of coming here multiple times and staying ling term.
Expats or anyone else living here more than a total 180 days in a calendar year will also be slammed from next year with incoming remittance tax. People on tax-free pensions, or receiving savings from abroad that have not been taxed more than the Thai tax rate, will now face a tiered taxation. First 150,000 Baht is tax-free then it goes up depending on how much you bring in. Up to 35%. That's a huge increase in living costs with zero benefit to expats. Hospitals here are very expensive if you are admitted. Pre-existing conditions are mostly excluded from expat health cover and you need to pay out of pocket - often a triple-tiered pricing with farangs charged huge amounts.
You cannot work here unless you are in an approved occupation which are few and far between. You cannot own land. You can buy a condo on a land lease basis or a house in a company name (technically not legal). But, this incoming remittance tax is going to make it really tough for a lot of pensioners. Military, certain government and US Social Security are exempt. My private pension will ve taxed around 20% eventually . Too much with zero benefit - just a huge loss of money for nothing. Suddenly being slugged with this is a slap in the face. Supporting a partner and her family has just been ruined. Breakups will occur as a result as guys just cannot afford to take care of their partners anymore. Instead the government will pocket the money and more.
7 years now, never had any difficulties having visa extension, if you can read and understand what you just read there is no problemo.....and the personnel in immigration always help with the paperwork. 90 day reporting you can make via internet and it takes only about 5 minutes......Imported goods have always been expensive because most of them are not used by thais...Expences of mandatory insurance rise very big speed when you are older than 65, now I am 68 and I think I can not pay any kind of insurance after 70......and if you are older you surely have so called pre -existing conditions, which can cause no payment if you get sick because of that kind of condition....many isurances are made only for getting that visa extension and the biggest problem is that when you have OA visa that mandatory insurance must be taken from Thai company which is approved by immigration, they have a list of companies they approve..... NOW when they wanted mass tourism by that 60 days visa free they got the mass tourism and environmental and behaviour problems by certain visitors so they throw out that "first class tourist" thinking and took pack packer tourism ........Burning rice fields cause bad pollution but if you do not do it there will be a mass invasion of harmful insects which eat everything you grow....And really, do not buy a condo or house from TH , rent it , so you can go and change place when ever you like if you want. Corruption is not the problem for retirees , AND NO ONE CAN TELL WHAT IS GOING TO HAPPEN NEXT, THIS IS THAILAND there it has been several military coups and civil regimes, all corrupted, and of course every coalition wants to make their own decisions.....From my point of view because I am old the biggest scam is that mandatory insurance by thai company approved by immigration (even all thai companies are not....) many foreign companies have much better insurances cheaper but are not approved.........
There is no mandatory insurance for the nonimmigrant O visa.
There was a military coup in 2014. That regime was voted out of office in 2023. I’m not going to say that Thai parliamentary democracy isn’t a little unusual but Thailand, for expats, have been pretty stable for the past 10 years.
given the fact how some, yes many behaveits only logical that locals build up distance!
The biggest issue with immigration is the lack of good systems .. I'm on my 5th Marriage visa and EVERY year we start with a blank page !!! ANY reasonable system would check for any changes and issue visa ..not here
That guy confusing prejudice for racism. 😅
i cannot speak for thailand, but as american, i am finding that asians are more racist than africans are, i am in indonesia, stayed in philippines & malaysia in past few months, and i spent many years in africa as well, kenyan in my photo, and yes, asians are super racist, many asians hate whites, yes, they bought into that white man bad, white oppressor, white colonizer bull crap, yes, asuians are using BLM in their asian communities, only black americans are more racist than whites, you can enjoy your white guilt, cuz i don't have white guilt, i love my white skin color, and i won't say sorry for being white, so if you really belive asians are nott racist and asians love whites, you are either stupid, a liar, or both, a stupid liar
"80 years old with pre-existing conditions?" Heck, getting any affordable health insurance gets tough when you are 60, and super difficult at age 65. BTW, when I came to Thailand during the pandemic, so there was no choice to get the "Type O" visa that (for now) doesn't require annual health insurance.
It depends on what you call affordable. As an American my Thai policy, that I bought at age 62, was about the same as my US policy. Expats from countries with universal healthcare may see it differently.
LTR visa makes it incredibly easy. If you don't qualify for LTR, DTV makes it very easy. Thailand is incredibly inexpensive overall. There is absolutely ZERO chance of anyone spending more in Thailand than the UK. That guy is clearly a crackhead. It's a very, very easy country to adapt to.
Excellent video - a real reality check.
Thailand wants to attract more tourism hence the DTV visa to get you to stay in country longer. Looks like your predictions are not coming true.
No people will retire in those tourist area, move away and price will drop, also it could be expat no money already, their pension shrinking with inflation.
Cambodia is a better option for me.
What's the edge that Cambodia has in your experience? Very curious to learn more about living there.
What are health care options like in Cambodia? I heard it’s not as advanced as Thailand.
is there ANYTHING better in Cambodia?
I saw people eating dog meat everywhere. Food hygiene is alarminh and hna trafficking is a serious issue there.
cambodia price is almost comparable to SG if not even higher as everything is in USD, so when USD is strong, well good luck.
Been here 4 years. Fantastic agent so have never stepped into Immigration. Make sure you are financially independent and stay away from poor people.
Cambodia in mind now
Easiest & cheapest long term visas in the world.
Enjoy your lesser experience.
@@ScooterOnHisWay2024 enjoy your more complicated experience.
what about Laos, Vietnam, and Cambodia?
way cheaper, more red tape unless you pay, way more wild, almost as beautiful but not as, not the same level of accessible western products like in Thailand.
@@ZDriver1996 more red tape in vietnam, i'm in indonesia and i want to fly to saigon city, is red tape really bad there
There is no retirement visa in Vietnam. Cambodia and Laos are more primitive than Thailand. I’m sure that is OK with some people.
@@martypoll well, all i have is monthly SSI/SSDI, so thailand is too expenseve for me, though indonesia is so cheap, and i can live a good comfortable life in indonesia, i was thinking of phnom penh and saigon tho, if i can live good in jakarta, how does vietnam and cambodia stack up against cheap indonesia, i heard only vietnam is cheaper than indonesia
@@martypoll yeah last time I was there every 90 days you had to leave and then re-enter . Most go into Cambodia and back
I have about a year before I move there. I'm seriously hoping I don't run into all these issues. My g/f is in Korat, so that's where I'll be moving. Well, that's if the economy goes the way I expect. I would really like to retire before 60.
I spent a little time in Korat. I really enjoyed the area. Nice friendly people,
Do NOT go by this video. He's very wrong about most of his claims.
Thanx for the interesting video! 👍🏻
Tony
Always nice to hear varying opinions, especially on so many different subjects. The one on feeling isolated was interesting. A language barrier both spoken and written obviously makes life more difficult, but not insurmountable. I’m looking at Thailand as my present location in Taiwan is ridiculously expensive to buy property, and what you get for your money is in general a poorly wired poorly plumbed in gas system death trap unless you buy new. But then you don’t get a garden.
My Chinese/Taiwanese 2 similar but different languages are hard to learn. But, with the help of Google translate or your choice app it isn’t impossible for me to go make transactions at the bank, post office or wherever. Even traveling can be done. My point being, Thailand Must be the same with a small effort to learn numbers , 15 verbs and basic grammar and 12 words and set phrases ?
What are the expat community like?…..do they all keep to themselves or integrate?. Are there bars/restaurants where expats go to keep away from tourists?.
A good video. I have subscribed etc. will take a look at your back catalogue for sure as well as anything new that catches my eye.
Russian influence has been very negative here.
Yes, I agree ! As well as the Brits and American presence in Thailand. But then again, it's the same in the Philippines ! 😉
Some more examples of racism please? Is it worse than the US/ Europe?
Perhaps people expected perfection in Thailand?
There is two tier pricing which is set against non Thais. But, generally the Thais are not racist as we know racism. Fun loving people that act in the reflection of how they are treated by others!
@@silomdon8753 condo rental price is the only thing I could think of that might have tier prices but that’s negotiable. Tourist site fees - some but no big deal, I wouldn’t call that racist; applied all non thai, not race.
Thais are not racists on the level of US/EU. Go to Thailand and find out in person
Thailand discounting for Thai residents doesn't raise an expat's price. It is like an "in state" tuition for college in the US. Lower price for locals. Period.
Even if what an expat pays here is more than a Thai pays, it is still likely 40-60% of what you would pay back home. There is no price gouging here.
Not everything is racism. Stop whining people and enjoy the many benefits of living here.
I've never been to Thailand, but the same thing happens here in the states. If I'm trying to go to Disney, it costs more than people who live in Florida.
Good info as always!!
whoa you watch my videos? :D ... I'm a big fan
You didn’t even touch upon property ownership rules and rights as an expat. I don’t agree with most of your video as I can provide 10X more positives than negatives. Compare these negatives to your home countries such as Canada or USA. Btw I have 3 passports and the negatives in Thailand do not come close to any other developed countries.
Depends on its apple's and mango's. I first came here 1989 now in 2024 it sure has changed but hey so has my place of origin
the only concern is that thailand seem to be flooded with china national and that is something u need to bear with.
What is an expat?
13:30 What dollar range is considered low financial requirement in CAD? ball park
just got my DTV. trying to decide between buying a gorgeous new 130sqm house in East Pattaya or a average condo in BKK for the same money lol.
What you mean buying a house in Thailand? Foreigners can't buy that.
@@Keyframe5 it appears you can do a 90yr lease or have a company own it
Oh, right, you mean 30yr lease? Don't think there is a 90yr. I would get the house, more space, no politics, no AGM.
@@Keyframe5 my understanding is 30+30+30yr lease setup is how people do it. Worried about all this crazy flooding. every week pattaya is getting flooding it seems.
I think Bkk has worst floodings. Pattaya floods are inside the city with buildings blocking the water path. Outside the city or on that hill where the Pattaya sign are no problem.
Time changes a lot of things!
Thailand getting greedy now
You didn't mention: Behind every smile in the land of smiles, someone is trying to cheat you.🎉
Geez. You sound like my mom, and she’s Thai. 😂
Stick to Malaysia and just visit.
Retirees who what to stay more than 180 days in the country now will have to pay taxes on their state pensions from their home countries if the funds (to cover monthly expenses) get transferred to Thailand 😵💫
Real knowledge comes from real personal experience , information given from another's perspective is not in any way relevant , go find out for yourself and stop watching BS like this
Show me a 1 br apartment in Manhattan, Boston, or any major U.S. city for less than 300% MORE than a luxury apartment in Bangkok. A very nice modern studio just 2 miles from downtown on a train line with a pool, etc. is under $400. Show me one in Chicago for less than 500% more. Show me how the violent crime and murder rates compare, etc. etc. This video is one big lie. Your conclusions are so wrong that it makes your agenda very suspect. What a joke!
Hmmm. Did you use your own voice on eleven labs? Now you went full on AI. Bring the face back Keyframe
Complete load of BS.
BS
Talk about racism, no one can beat USA especially if Trump win in Nov.
why not come to philippines we are christian country and christian are quiet adaptable and also the economy is growing you can invest and create a business here and also philippines are greatly influence by western country especially in technology
can u tell me what type of business u can open to make decent money in the PI? hahaha,,,,,I lived in cebu for 7 years,,,visiting 25 years,,,,,sari sari store? hahahah,,,,online clothes,,,,hahaha,,,,Restaurants are bad investments,,,,
A lot of people are leaving the states because of the growing extremism of the right wing Christians. The less judgmental buddhist of Thailand are more appealing.
The Phillipines costs a lot more for many necessary things like electricity. And many areas experience daily brownouts. So you pay more and get less.
PH does have beautiful beaches and beautiful women - but so does TH. The English language is all I se as a clear advantage for PH for English speaking expats. Both are good options though.
@@ScooterOnHisWay2024 true i guest what you see fit for your goals go for it either way foreigner have alot of advantages than to local citizen cause fo you people 1k USD is nothing but for local people in both party is hella expensive the only way we can get it is either work as a doctor or just literally sell drugs
@@dsrrellgriffith1161 then you don't look for it property and even most chinese defeated american in business minded people alot of thing are needed like professional related jobs like manufacturing industry and medical and even salon cause foreigne hs lot of advantages than local people and sarisari store is really not a business its more like a past time for the elderly people in the family and also you know why chinese people have the greater advantages is they know the market or just create a expact group to be their tour guide foreigner has alot of advantages about that but i guest you just look down on philippines then let me ask you what business can you create in thailand where as the language is a barrier and people also loved to stick with each other cause people are also afraid of foreigner cause there is a stereotype on both country that foreigner mostly does a human trafficking