Thanks Pete! American retiree over 60 leaving the USA in July and moving to Thailand! Jomtien and/or Pratumnak are my target areas. Going to subscribe to your channel and check out the rest of your videos!!
@ looking like February. I’ve been working on a big Pratumnak video for months but have restarted it because the area keeps changing. Lots of new spots. It looks like I’ll do 2 videos on Prat next month.
Cost for our family of 3 living in a pool villa we own in Hua Hin with no mortgage or rent payment is around $4000 each month. We don’t skimp on anything. We even have our own full time personal driver and nanny. I think your budget is one of the more realistic budgets. You can’t live any life here on $1000 a month - no way. I put $1000 a month into an ETF for our 7 month old daughter. That’s in addition to the $4000 a month.
People do live out for for $1k or less but… I sure don’t want to. It would be a very humble and boring life but for others it works. My girlfriend is more frugal than I am! It’s hilarious. My friend has been married here for 30 years and his wife is in charge of all the money. It works for them and he says she’s good with the money.
@@dan.hunter Dan!! That’s great to hear and I miss you too. When are you guys coming back to Thailand?? Please, give my bests to anyone I know back there.
Thanks for the update. I start my Thailand retirement in 7 days. I am 59 and have found insurances in the 120 to 140 a month from several companies for pretty good coverage. I was basically looking for coverage for Major Issues.
@@andrewfrechtman6536 only preexisting issue is asthma so I think I’ll be ok. That’s another reason I need to get off my travel insurance plan. Got to get insurance before we find something.
Have a pension or two @ 5K a month or higher post taxes and a minimum of 500k invested and pulling in another 50k a yr. That's the sweet spot for good living, worry free and all expenses covered...
The Vagabond Awake YT channel has an interview with an insurance agent who specializes in health insurance policies for expats that provide global coverage rather than localized policies, but not travel insurance. The policies provide worldwide coverage and the price on them was extremely reasonable as I recall. I only mention it because if the difference in cost between that and local Thai insurance are negligible, being able to have coverage for something major at a specialist in another country in the event you might need it, seems pretty valuable. I mean Thailand has very highly rated medical care, but if $5 a month more means you can go to the best doctor in the world for something obscure that comes up who happens to be in Taiwan, or Malaysia, or Dubai, it might be worth the extra $5. Who knows it might even be cheaper insurance for more coverage. I mean Thailand is an inexpensive medical care cost country, but certain things are cheaper elsewhere and that is factored into the larger insurance pool.
Thanks for the heads up, I’ll look into it. One company I’ve been looking into offers 6 weeks insurance in the US for every 6 months coverage out here. It’s enticing to me because I’ll visit the states again at some point and I really don’t want to go uninsured or pay a crazy amount for a visit there.
Thanks for the heads up, I’ll look into it. One company I’ve been looking into offers 6 weeks insurance in the US for every 6 months coverage out here. It’s enticing to me because I’ll visit the states again at some point and I really don’t want to go uninsured or pay a crazy amount for a visit there.
I had to be careful to buy insurance that was accepted by Bangkok hospital system. The accept payments from VA for covered expenses and my military retire insurance pays 75%. So, my medical expenses are very low.
Always interesting Pete,. Pondering why you have a storage locker back home. cannot imagine what you would need to store, unless you have some old Gibson, Martin, or Fender guitars or vintage amps, haha it's all good man. Saul Goodman BTW looking forward to the sponsors stories, have heard many, but never seen an actual bank account where the amount is shown being transferred into.
I have TOO much stuff. Some stuff is just in case I moved back (a box or 2 of kitchen stuff, some clothes, a blue Ray player), 10 boxes of CDs, a few binders of DVDs (I tossed the cases), a guitar, , a few collectables I didn’t get sold, and a bunch of D&D stuff (I kept about half of my books and a large miniatures collection but I sold all my terrain and other accessories). A few keepsakes and sentimental items too. I’ll go visit in a year or two and decide if I want to get rid of it all and/or ship some of it here.
@ Yeah, when I moved out here, I really wasn’t sure if I’d like it and I would’ve said it was a 50-50 chance I’d be going back home, so I left some stuff in case. Now that I’m thinking, I may not ever move to Europe or Central America, as originally planned… things are looking differently. There’s at least $12,000 worth of stuff in that storage unit so… It’s going to pay for itself once I finally sell it or move it out here.
@@peteonretreat2023 I was always curious if you got a good return on your star wars stuff, did i hear you even sold a few cars? Most of us probably cant count on the sale of our stuff to fund our travels but its sounds like you got good resale value on most of your things? I look at most of the things i'm trying to now get rid of and i'd say i regret buying over 90% of it.
@ I had a second car for awhile but sold it years before this crazy trip. It was a car I bought for my mom. I did ok with the Star Wars stuff. I might’ve broke even in the end. I could’ve got more if I took more time and sold pieces individually. I didn’t need the money and just wanted to get something decent for it all so I sold it in several dozen larger lots. Selling my things really barely padded the money I got from the house. It all is likely paying 6-10 months out here so it’s not just nothing but I quick sold most of it on eBay or asking 60-70% market value on FB marketplace. While I don’t regret buying any of that stuff, I certainly wouldn’t have if I knew this was where I was going to end up.
Congratulations Pete for making that brave move from usa to pattaya thanks for being very Frank with your monthly cost atleast you are not like the rest who live cheaply as you like a good standard off living I am coming in April but I reside in Bangkok would definitely require a taxi can it fit four people you got a hard working honest girlfriend that’s a big positive I have got 4 years before I completely retire from Uk the only difference I can cut the cost as I have no rent to pay in 4 years time as that is one off the major expenses looking forward to meeting you in Pattaya I am there for 4 nights best wishes for the future
Koi’s car can fit four people (and has with our friends) but it’s not ideal and I wouldn’t recommend it for a long drive. It’s a smaller Toyota and there could also be a problem depending on the size and amount of luggage. That said, my email is in the description of every video so reach out to me when you’re coming over and we can try to meet up. Happy new year 🎊
If you are retired you spend alot of time in your room/condo i always say rent at the higher end of your budget because if you rent a shitty condo your not gonna want to spend time there so you go out more and in turn spend more whilst you are out . Its false economy going cheap on your condo . Its great to see you also prioritize this .
I only went to Jamaica once and I loved it. Always wanted to go back but never did. I’m a big reggae head and man, that place feels like a pilgrimage spot to me.
Always interested to hear how others create a budget. I am in the habit of looking at each budget - doubling it - then averaging the doubled up budgets of many vloggers to come up with something realistic. I think you can be comfortable (not a baller, but comfortable) with a $5000 USD a month budget. If you want to play the baller role.. double it again, to $10,000 USD a month. At that level you will NOT be in want of anything.
By budget is simple… I have X amount of dollars for Y years. X/Y/12 is therefore my monthly budget. (My teacher was right about algebra after all!) Then I’ve got a goal of spending about 40% less than that to build up some savings. After Y number of years, my retirement funds kick in and it won’t be so simple because I don’t know how many years I’ll have left. I do like your budgeting though.. I’m not sure what I’d do with 10k a month. Lots more trips and yacht parties!
What do you think you would do with a larger budget? I guess eat out more and live in a fancy expensive condo, more sanctuary/temple trips ect? Nothing that you actually need to be more happy but a what if.
Great question and I think you nailed it. Bigger condo, nicer view and eat out more and BBC at possibly fancier restaurants. I’d definitely travel more. I have my spending goal set low so I can build up a good safety vision and save for trips to the US to visit. I’d also donate more. I’ve become much more minimalistic living here but with more money I might get an E-bike and some more gaming aids for D&D.
@@peteonretreat2023 "Donating" is a very American thing, a bit like Zakat in Islam - strange. In Europe we like government to take care of people's welfare via taxes. Are you going to donate in Thailand?
@@scottgeen3062 it depends on your pension size and lifestyle. You really need to do the math on it and assume that cost of living will likely rise over the next years and decades.
Muang means city. I don’t think Airbnb has Pratumnak as a selectable neighborhood. How I got my first Airbnb here was by using the map function. I zoomed in over Pratumnak hill and hit “search this area.” Hope that helps Chef!
Still remains to be seen. Lots of people saying lots of different things, even the experts. I’ve paid taxes on all of my money already and if the country tries to take too much more, I’ll be moving on.
@peteonretreat2023 wow that's powerful. I like it! I think that's one nomad benefit is zero tolerance or loyalty in case any of these countries get cute
So -- your extravagant with your rent (?) - understandable if you want it & can afford it. A frugal old retired senior like myself doesn't require anything like that. Jomtien in a thrifty area is fine for me - but good food nearby ! ---- Siem Reap appears to be a place worthy of my consideration - given the lower costs and quality. > Visa laws in Thailand are significantly more of a hassle and much more expensive ! Perhaps I will live in Siem Reap - and visit Thailand ?!? A back and forth venture appears to be a better ''value'' for my $ ? A short 1 hour flight away and cheap if booked in advance ! Cambodia has an '''amazing''' retirement visa for over 55 expats !!! Many single US expats are living a thrifty & comfortable lifestyle on about $800 USD in essentials each month. Add for travel and extras. ❤👍🙏✌👋
I already have the 800k baht in my Thai bank account. I want to keep 100% legal and legit while I’m here and I don’t want to risk missing a monthly transfer. Note: the money only has to stay in the Thai account for 3 months of the year. (incorrect, see the comments below)
@@peteonretreat2023 Incorrect, Pete. The 800k must stay in your account 2 months before your extension, and 3 months after. A total of 5 consecutive months. The rest of the year, 7 consecutive months, the amount can not go below 400k. That is the official immigration rules. So you can spend 400k during these 7 months. Invest them into BTC, or something else maybe? 😊
@@Gotmybeeroverhere Correct. 800k must be in bank 2 months before extension, and 3 months after. The rest of the year it must not dip below 400k. That is the official immigration rules. I posted this yesterday too, but somehow it disappeared.
There’s a video on our last condo (we moved a few months ago) and it was on the expensive side at 20,000 baht (about $570 usd) I’ll release the tour of my new condo in March but it’ll be for members only.
Nice breakdown Pete. The one hidden cost not discussed is taxes. Your annual adds 20% Thai tax. On their table 750,000 - 1,000,000 baht +/- whatever the US tax rate is. So that's another 183,340 baht or $5,286 usd + $26,100 usd = $31,386 usd. Total. I'm Canadian, our rate sucks. $45,265 would be my annual. Thank you for posting totals, it helps me figure out what ballpark budget is realistic.
It doesn’t just add 20% tax. I’ve already paid at least 20% tax on all my income. With the US tax treaty, I’m credited with that. I shouldn’t have to pay any extra tax on my money brought into Thailand. The bigger question is will what will filing taxes here look like.
@@peteonretreat2023 That nightmare will soon hit every expat. I was all set, probably still head over anyway. I hope you do a vid about it when you have to deal with the Thai tax paperwork. Let us know how messed up and complicated we all think it's going to be.
Your numbers are wrong. Thai tax system is progressive, you only pay 20% taxes from the sum between 750k and up to 1 mill, you still pay 15% between 500k to 750k, 10% between 300 k to 500k, and 5% between 150k to 300k. And that is after deductions (everyone gets at least 60k deductions). There are deductions for wife, for kids, for people from 65 years of age (190k alone for that) and more. And your first 0-150k is free of taxes. So with 900k as a yearly income brought into Thailand, like this budget, you`ll end up paying less that 10% tax in total, adding it all up. IF this tax will be enforced for every tax resident of Thailand. I understand Pete are spending from his savings and sales, so there is that too. The tax rules are not set in stone as of yet, a lot is hanging and not made clear from the Tax Revenue Department (especially for i.e. Americans) so we will wait and see what this year and the next will bring. What we do know, is that no one will be forced to pay double tax, if they come from a country with a double tax agreement, DTA, which most expats do. If taxes must be paid in Thailand, you will be reimbursed, or credited from your own country. Thai taxes are pretty low, so I don`t think anyone has much to fear. You`ll only pay taxes on money (or income) brought in to Thailand. My late Norwegian husband (I am Thai) a few years ago, in fact paid less taxes in Thailand (around 5% after deductions), than in his own country, for him this was a win-win situation (Scandinavian rules for tax residency abroad are different from the US, he had no choice but to pay taxes here).
@@andrewrobinson2565 good question. I’m definitely not thinking about my RUclips income, I hardly make anything from doing this. I’m also not planning for my savings to go away. My current savings will last me until my 401k kicks in. A couple years after that I’ll start collecting social security. Even without investments, I should be good for the rest of my life.
@peteonretreat2023 Excellent 👍💯. Ours is all in productive property. Don't own a single share. We'll both be retired, on smallish French state pensions in January 2027 and be having June-September in Thailand every year thereafter. Looking forward to it 😃👍.
No, it’s pretty rare. I had a friend who had it and was in the hospital for about a week though. It’s no joke and he was really sick. I’m pretty good about wearing mosquito repellent and I don’t go into many areas that have a lot of mosquitoes, so my odds of getting it are incredibly low. I only seem to get about 10 mosquito bites a year. In a high-risk area your chances are about 1% per month but I do not live in a high-risk area.
I'm not here to shame or anything like that it's great that people are able to live overseas and such I visit. I've been to Thailand twice and the Philippines once and I did it on basically $15 an hour. I just have hardly any bills in the United States. My rent is $150 a month including electricity because I live in a small cabin 5 x 8 actually built in the back of a pickup truck and I can stand up inside. So I have very few bills other than $150 a month rent and I don't get charge it all when I visit overseas or for 4 months of the year when I go to work at national Parks out west they do not charge me to keep it here when I'm not here. That being said yeah my average pay is 15 to 18 an hour I basically just doordash and in the spring and summer I make between 15 and 18 an hour with free housing I do have to pay for food but also there's so many other free things involved in living in national Parks free internet free laundry except for the soap free water free electric free boat rides free horseback rides and all kinds of other stuff. Just saying most of the year I'm making like $450 a week and am able to do that in the United States
@@andrewbrann6231 health insurance, that’s the main difference. Health care, gas and food would eat up my spending goal of $2k a month and that’s without paying rent. After that, you live in a 40sq foot, cabin which is perfectly cool for some people. I’ve looked into the tiny house thing and I don’t think it’s for me. My 1 bedroom condo is 21 times the size of your cabin and my room is too small for some people. Shoot, my house was 87 times the size of your cabin so this lifestyle is already a huge change for me. I’m 100% glad you’re living your dream, that’s awesome! We just don’t have the same dream. Another big reason I moved out here is to travel and Thailand is a great home base for seeing Asia.
@peteonretreat2023 yes I have a very minimalistic lifestyle even in America all of my bills including my food and rent and including drinking and smoking are probably less than $600 a month in Tennessee. Also when I visit Thailand the lady I've been talking to for 4 years her house is paid for there's no rent. When I visit I'll pay for the food it's about $250 a month or something for me and her easily and the electric and water is like $20 I paid that when I'm there. Yes I'm not cutting anyone's lifestyle but I live in a town of 10,000 which does have million-dollar homes but it also has homes you can still get for like $80,000 and you can still find rent around $500 and something a month in some cases. So yeah even if I had 1 million US dollars I would never buy a house over 150,000. Like I said I can travel the world and I do on 15 to 18.00 an hour. I already raised my children I had full custody of their grown they have their own children and I make 15 to 18 an hour and I travel to Thailand almost every year now the last 2 years travel to the Philippines before that work at national Parks every spring and Summer getting paid about 18 an hour plus free housing I love that kind of lifestyle and I personally know someone living in the Philippines on 1200 a month in living room really good and of course there are many RUclipsrs that claim you got to make a certain amount but there's also many with receipts showing that they're living on 1200 a month or less and that includes getting to go out and entertainment and everything
@peteonretreat2023 even my children have different goals than me. My daughter pays $1,800 a month for a two-bedroom apartment. I would never pay that much for an apartment. She can do that that's her choice but you will not find anywhere not even a one-bedroom in Nashville for 1200 a month anymore but I'm an hour and 20 minutes away you still can find 5 to 600 a month rent. I love minimalistic lifestyle because it gives me an opportunity to not have any rent. My little Kevin's paid for and I just paid $150 a month and they don't charge me anything when I go out west to work at Yellowstone or when I go to Thailand for a month at a time usually I'm going to Yellowstone or Grand Tetons or Glacier Park to work for 3 to 4 months I don't get charged anything there for rent and I don't get charged anything here for rent
@@patrickconnolly7799 lol, your feedback about the 20 seconds of music has been noted. Historically, my videos with intro music tend to do much better than those without. Is there a genre you would prefer to hear?
@@clivebaxter6354 I’m sorry but this topic is incredibly popular, it makes more money than any of my other videos, and I have only made 3 budget videos in over 2 years. I do have a lot of videos that I feel haven’t been done to death but they don’t get views. For example, I have one of the only English speaking videos on Khao Kitchakut (an amazing place that people would definitely go to if they knew about it) but it only has 1,000 views.
@@clivebaxter6354 uh, what crap is that? My happy retired life? Yeah, I'm going to die someday just like everyone else. Is there a topic you would like to see me cover?
@@clivebaxter6354 I’m guessing you’ve never watched the channel before… like I said, I’m open to suggestions. 🤔 I regularly cover things that nobody else out here does but then I also do popular videos to pay the bills. What do you want to see?
As I said, many people do, but not everyone. Koi isn’t happy that I give her any money at all. She’s never had a western boyfriend and didn’t want one. She isn’t a woman for hire and she turned down many offers from men that wanted to buy her things and pay her to be with them. I’ve got many friends her that can attest to it. Your view and understand of Thailand and Thai women appears to be very narrow.
Haha, do you two go out for drinks a lot? Koi is pretty frugal. She often talking about how things are too expensive for us to do and have to constantly remind her that we are fine. Yes, we are saving money for a big trip to the US eventually but we are far from hurting.
@peteonretreat2023 no we don't. We eat out once every 4 or 5 days but that's about it. But I think the big difference is I unfortunately sponsor my girl as she doesn't work. 3000 a week I give her for her girlie stuff so that does make a difference
How bizarre to include your storage gosts in your bills!! either identify it seperately or leave it out, a break down on bills would've been better, such as electirc, water, wifi etc
I don’t track spending for RUclips. I track it for me. My bills include fixed costs, it’s just how I track my spending. After 45,000 views on my 2 other budget videos, it’s the first time anyone has said this was weird. If it helps you, my storage is now $103 a month.
Great break down…thanks for sharing.
You’re welcome! 🙏🏼
Very good video new sub. Im 42 planning to retire at 55 and move too Thailand.
Awesome!
Thanks Pete! American retiree over 60 leaving the USA in July and moving to Thailand! Jomtien and/or Pratumnak are my target areas. Going to subscribe to your channel and check out the rest of your videos!!
You’re welcome and thanks for the sub. There’s quite a variety of videos on this channel and I hope you find some you like.
@@peteonretreat2023 When will you post a video about Pratumnak?
@ looking like February. I’ve been working on a big Pratumnak video for months but have restarted it because the area keeps changing. Lots of new spots. It looks like I’ll do 2 videos on Prat next month.
Great video man, thanks!
Appreciate it! 🙏🏼
Thank you Pete, and your wish will come true very soon!
Thank you for commenting 🙏🏼
May all your wishes come true soon too!
Cost for our family of 3 living in a pool villa we own in Hua Hin with no mortgage or rent payment is around $4000 each month. We don’t skimp on anything. We even have our own full time personal driver and nanny. I think your budget is one of the more realistic budgets. You can’t live any life here on $1000 a month - no way. I put $1000 a month into an ETF for our 7 month old daughter. That’s in addition to the $4000 a month.
People do live out for for $1k or less but… I sure don’t want to. It would be a very humble and boring life but for others it works.
My girlfriend is more frugal than I am! It’s hilarious.
My friend has been married here for 30 years and his wife is in charge of all the money. It works for them and he says she’s good with the money.
Miss ya, Pete! Think about you often and watch all your videos to keep up with your life :)
@@dan.hunter Dan!! That’s great to hear and I miss you too. When are you guys coming back to Thailand?? Please, give my bests to anyone I know back there.
My guy ✌🏾I’m finally ready. 12 weeks out
@@MrOisJustLiving Mr O! That’s so awesome, congrats!! Where are you headed?
@@peteonretreat2023 first stop Bangkok
@ that’s so exciting! Congrats
Thanks Pete. Wish that I was there too.
My pleasure 🙏🏼
Thank you for commenting
Good breakdown of prices.
Thank you 🙏🏼
Thanks for the update. I start my Thailand retirement in 7 days. I am 59 and have found insurances in the 120 to 140 a month from several companies for pretty good coverage. I was basically looking for coverage for Major Issues.
That’s awesome! I’ve really only looked a bit. I’m hoping to find a good place that I won’t want to change in a few years.
Have you found coverage for the major issues yet? Are these pre-existing conditions or are you just planning for the inevitable bodily breakdown?
@@andrewfrechtman6536 only preexisting issue is asthma so I think I’ll be ok. That’s another reason I need to get off my travel insurance plan. Got to get insurance before we find something.
Great job Pete!
@@farawayfred802 thank you 🙏🏼
Have a pension or two @ 5K a month or higher post taxes and a minimum of 500k invested and pulling in another 50k a yr. That's the sweet spot for good living, worry free and all expenses covered...
@@robertriebel8064 that’s one hell of a sweet spot!
The Vagabond Awake YT channel has an interview with an insurance agent who specializes in health insurance policies for expats that provide global coverage rather than localized policies, but not travel insurance. The policies provide worldwide coverage and the price on them was extremely reasonable as I recall. I only mention it because if the difference in cost between that and local Thai insurance are negligible, being able to have coverage for something major at a specialist in another country in the event you might need it, seems pretty valuable. I mean Thailand has very highly rated medical care, but if $5 a month more means you can go to the best doctor in the world for something obscure that comes up who happens to be in Taiwan, or Malaysia, or Dubai, it might be worth the extra $5. Who knows it might even be cheaper insurance for more coverage. I mean Thailand is an inexpensive medical care cost country, but certain things are cheaper elsewhere and that is factored into the larger insurance pool.
Thanks for the heads up, I’ll look into it. One company I’ve been looking into offers 6 weeks insurance in the US for every 6 months coverage out here. It’s enticing to me because I’ll visit the states again at some point and I really don’t want to go uninsured or pay a crazy amount for a visit there.
Thanks for the heads up, I’ll look into it. One company I’ve been looking into offers 6 weeks insurance in the US for every 6 months coverage out here. It’s enticing to me because I’ll visit the states again at some point and I really don’t want to go uninsured or pay a crazy amount for a visit there.
@peteonretreat2023 you are welcome. I know if I finally get to make my move abroad I will look it up again.
I had to be careful to buy insurance that was accepted by Bangkok hospital system. The accept payments from VA for covered expenses and my military retire insurance pays 75%. So, my medical expenses are very low.
@ I’m likely to talk to a broker even after I research companies on my own just to make sure everything is lined up and will work best for me.
Always interesting Pete,. Pondering why you have a storage locker back home. cannot imagine what you would need to store, unless you have some old Gibson, Martin, or Fender guitars or vintage amps, haha it's all good man. Saul Goodman BTW looking forward to the sponsors stories, have heard many, but never seen an actual bank account where the amount is shown being transferred into.
I have TOO much stuff. Some stuff is just in case I moved back (a box or 2 of kitchen stuff, some clothes, a blue Ray player), 10 boxes of CDs, a few binders of DVDs (I tossed the cases), a guitar,
, a few collectables I didn’t get sold, and a bunch of D&D stuff (I kept about half of my books and a large miniatures collection but I sold all my terrain and other accessories). A few keepsakes and sentimental items too. I’ll go visit in a year or two and decide if I want to get rid of it all and/or ship some of it here.
True about the storage. Several videos have been made about wasting money on storage back home for things that are never used again.
@ Yeah, when I moved out here, I really wasn’t sure if I’d like it and I would’ve said it was a 50-50 chance I’d be going back home, so I left some stuff in case. Now that I’m thinking, I may not ever move to Europe or Central America, as originally planned… things are looking differently. There’s at least $12,000 worth of stuff in that storage unit so… It’s going to pay for itself once I finally sell it or move it out here.
@@peteonretreat2023 I was always curious if you got a good return on your star wars stuff, did i hear you even sold a few cars? Most of us probably cant count on the sale of our stuff to fund our travels but its sounds like you got good resale value on most of your things? I look at most of the things i'm trying to now get rid of and i'd say i regret buying over 90% of it.
@ I had a second car for awhile but sold it years before this crazy trip. It was a car I bought for my mom.
I did ok with the Star Wars stuff. I might’ve broke even in the end. I could’ve got more if I took more time and sold pieces individually. I didn’t need the money and just wanted to get something decent for it all so I sold it in several dozen larger lots.
Selling my things really barely padded the money I got from the house. It all is likely paying 6-10 months out here so it’s not just nothing but I quick sold most of it on eBay or asking 60-70% market value on FB marketplace.
While I don’t regret buying any of that stuff, I certainly wouldn’t have if I knew this was where I was going to end up.
Congratulations Pete for making that brave move from usa to pattaya thanks for being very Frank with your monthly cost atleast you are not like the rest who live cheaply as you like a good standard off living I am coming in April but I reside in Bangkok would definitely require a taxi can it fit four people you got a hard working honest girlfriend that’s a big positive I have got 4 years before I completely retire from Uk the only difference I can cut the cost as I have no rent to pay in 4 years time as that is one off the major expenses looking forward to meeting you in Pattaya I am there for 4 nights best wishes for the future
Koi’s car can fit four people (and has with our friends) but it’s not ideal and I wouldn’t recommend it for a long drive. It’s a smaller Toyota and there could also be a problem depending on the size and amount of luggage.
That said, my email is in the description of every video so reach out to me when you’re coming over and we can try to meet up.
Happy new year 🎊
If you are retired you spend alot of time in your room/condo i always say rent at the higher end of your budget because if you rent a shitty condo your not gonna want to spend time there so you go out more and in turn spend more whilst you are out . Its false economy going cheap on your condo . Its great to see you also prioritize this .
Wow, that’s a perfect way to think about it and I think few do. I’ll definitely be sharing this point of view when I talk about the subject again.
I'm planning on continuously going to and from Thailand from Jamaica 🇯🇲 due to my passport 🛂 having the ability to travel without visa to Thailand.
I only went to Jamaica once and I loved it. Always wanted to go back but never did. I’m a big reggae head and man, that place feels like a pilgrimage spot to me.
Always interested to hear how others create a budget. I am in the habit of looking at each budget - doubling it - then averaging the doubled up budgets of many vloggers to come up with something realistic. I think you can be comfortable (not a baller, but comfortable) with a $5000 USD a month budget. If you want to play the baller role.. double it again, to $10,000 USD a month. At that level you will NOT be in want of anything.
By budget is simple… I have X amount of dollars for Y years. X/Y/12 is therefore my monthly budget. (My teacher was right about algebra after all!)
Then I’ve got a goal of spending about 40% less than that to build up some savings.
After Y number of years, my retirement funds kick in and it won’t be so simple because I don’t know how many years I’ll have left.
I do like your budgeting though.. I’m not sure what I’d do with 10k a month. Lots more trips and yacht parties!
happy new year :)
Sawadii pi mai!
What do you think you would do with a larger budget? I guess eat out more and live in a fancy expensive condo, more sanctuary/temple trips ect? Nothing that you actually need to be more happy but a what if.
Great question and I think you nailed it. Bigger condo, nicer view and eat out more and BBC at possibly fancier restaurants.
I’d definitely travel more. I have my spending goal set low so
I can build up a good safety vision and save for trips to the US to visit.
I’d also donate more.
I’ve become much more minimalistic living here but with more money I might get an E-bike and some more gaming aids for D&D.
@@peteonretreat2023 "Donating" is a very American thing, a bit like Zakat in Islam - strange.
In Europe we like government to take care of people's welfare via taxes.
Are you going to donate in Thailand?
@@andrewrobinson2565 oh, I already donate regularly and have started a charity foundation here.
@@peteonretreat2023 Wow 😳.
@@peteonretreat2023hi pete would 8million baht and pension be enough to live in Thailand from New Zealand
Hi would 8million baht and pension be enough to live in Thailand from New Zealand
@@scottgeen3062 it depends on your pension size and lifestyle. You really need to do the math on it and assume that cost of living will likely rise over the next years and decades.
@@peteonretreat2023 thank you for your advice from Scott new Zealand
Have you done a vlog about your plans for funding retirement after the m9nry from selling up runs out? That would be interesting.
I have a 401k and then I assume social security. The house fund is only to cover me until I can get into my retirement account without penalties.
Hey Pete, I’m looking at air bnb’s in the Pratumnak area and all that pops up is Muang Pattaya. Do you know about that area?
Muang means city. I don’t think Airbnb has Pratumnak as a selectable neighborhood. How I got my first Airbnb here was by using the map function. I zoomed in over Pratumnak hill and hit “search this area.” Hope that helps Chef!
Any idea on cost of renting a car per month while in Thailand? We are splitting our time between US, Thailand, and other countries.
The best prices I’ve heard of are about 14k-15k baht (about $400+) a month and the daily price is typically about 1,000 baht.
Hi Pete, have you been on Soi 6 , looks mad
Believe it or not, it’s actually crazier than it looks.
Hi Pete i was curious about taxes there once you're permanent
Still remains to be seen. Lots of people saying lots of different things, even the experts. I’ve paid taxes on all of my money already and if the country tries to take too much more, I’ll be moving on.
@peteonretreat2023 wow that's powerful. I like it! I think that's one nomad benefit is zero tolerance or loyalty in case any of these countries get cute
So -- your extravagant with your rent (?) - understandable if you want it & can afford it. A frugal old retired senior like myself doesn't require anything like that. Jomtien in a thrifty area is fine for me - but good food nearby ! ---- Siem Reap appears to be a place worthy of my consideration - given the lower costs and quality. > Visa laws in Thailand are significantly more of a hassle and much more expensive ! Perhaps I will live in Siem Reap - and visit Thailand ?!? A back and forth venture appears to be a better ''value'' for my $ ? A short 1 hour flight away and cheap if booked in advance ! Cambodia has an '''amazing''' retirement visa for over 55 expats !!! Many single US expats are living a thrifty & comfortable lifestyle on about $800 USD in essentials each month. Add for travel and extras. ❤👍🙏✌👋
@@KB3TLE yup. I’ve looked into Cambodia and enjoyed my time there but I feel in love with Thailand. Here’s to happiness abroad! 🍻
are you considering depositing 800k baht in a thai bank a.c, transfer to this option? or having an agent better
I already have the 800k baht in my Thai bank account. I want to keep 100% legal and legit while I’m here and I don’t want to risk missing a monthly transfer. Note: the money only has to stay in the Thai account for 3 months of the year. (incorrect, see the comments below)
@@peteonretreat2023 Incorrect, Pete. The 800k must stay in your account 2 months before your extension, and 3 months after. A total of 5 consecutive months. The rest of the year, 7 consecutive months, the amount can not go below 400k. That is the official immigration rules. So you can spend 400k during these 7 months. Invest them into BTC, or something else maybe? 😊
800k for five months 400k for seven months
@@Gotmybeeroverhere Correct. 800k must be in bank 2 months before extension, and 3 months after. The rest of the year it must not dip below 400k. That is the official immigration rules. I posted this yesterday too, but somehow it disappeared.
@@Gotmybeeroverhere thank you 🙏🏼
Yes, that’s correct. I just leave mine so I forget about the minimum you must leave year round.
30yrs ago I wish I was there permanently now no way to many idiots moving there Thailand is ruined
No one I know here thinks it ruined. We all love it. Thanks for the comment 🙏🏼
It is not clear if the cost you read was for one or two of you. You alternated saying “I” and “we”.
Yeah, I caught that during the editing. The cost is for two but I point out that Koi pays for her car and her phone.
Great video But you did not include how much your girlfriend gives you each month
She doesn’t need to give me anything 😂
I did include how much I give her though.
Do you have a video on your condo and how much you pay.
There’s a video on our last condo (we moved a few months ago) and it was on the expensive side at 20,000 baht (about $570 usd)
I’ll release the tour of my new condo in March but it’ll be for members only.
I'm very fortunate, My Thai GF owns a house.
That helps a lot!
Nice breakdown Pete. The one hidden cost not discussed is taxes. Your annual adds 20% Thai tax. On their table 750,000 - 1,000,000 baht +/- whatever the US tax rate is. So that's another 183,340 baht or $5,286 usd + $26,100 usd = $31,386 usd. Total. I'm Canadian, our rate sucks. $45,265 would be my annual. Thank you for posting totals, it helps me figure out what ballpark budget is realistic.
It doesn’t just add 20% tax. I’ve already paid at least 20% tax on all my income. With the US tax treaty, I’m credited with that. I shouldn’t have to pay any extra tax on my money brought into Thailand. The bigger question is will what will filing taxes here look like.
@@peteonretreat2023 That nightmare will soon hit every expat. I was all set, probably still head over anyway. I hope you do a vid about it when you have to deal with the Thai tax paperwork. Let us know how messed up and complicated we all think it's going to be.
@@davewave36 I’ll definitely do a video about it when the time comes. It’s the thing I’m most asked about now.
Your numbers are wrong. Thai tax system is progressive, you only pay 20% taxes from the sum between 750k and up to 1 mill, you still pay 15% between 500k to 750k, 10% between 300 k to 500k, and 5% between 150k to 300k. And that is after deductions (everyone gets at least 60k deductions). There are deductions for wife, for kids, for people from 65 years of age (190k alone for that) and more. And your first 0-150k is free of taxes. So with 900k as a yearly income brought into Thailand, like this budget, you`ll end up paying less that 10% tax in total, adding it all up. IF this tax will be enforced for every tax resident of Thailand. I understand Pete are spending from his savings and sales, so there is that too. The tax rules are not set in stone as of yet, a lot is hanging and not made clear from the Tax Revenue Department (especially for i.e. Americans) so we will wait and see what this year and the next will bring. What we do know, is that no one will be forced to pay double tax, if they come from a country with a double tax agreement, DTA, which most expats do. If taxes must be paid in Thailand, you will be reimbursed, or credited from your own country. Thai taxes are pretty low, so I don`t think anyone has much to fear. You`ll only pay taxes on money (or income) brought in to Thailand. My late Norwegian husband (I am Thai) a few years ago, in fact paid less taxes in Thailand (around 5% after deductions), than in his own country, for him this was a win-win situation (Scandinavian rules for tax residency abroad are different from the US, he had no choice but to pay taxes here).
@ a very through breakdown of a often misinterpreted topic that has most of us scratching our heads. 🙏🏼
What provisions are you specifically making for your retirement, once your savings and RUclips income are gone?
@@andrewrobinson2565 good question. I’m definitely not thinking about my RUclips income, I hardly make anything from doing this. I’m also not planning for my savings to go away. My current savings will last me until my 401k kicks in. A couple years after that I’ll start collecting social security. Even without investments, I should be good for the rest of my life.
@peteonretreat2023 Excellent 👍💯. Ours is all in productive property. Don't own a single share. We'll both be retired, on smallish French state pensions in January 2027 and be having June-September in Thailand every year thereafter.
Looking forward to it 😃👍.
have you ever had Dengue fever?
No, it’s pretty rare. I had a friend who had it and was in the hospital for about a week though. It’s no joke and he was really sick. I’m pretty good about wearing mosquito repellent and I don’t go into many areas that have a lot of mosquitoes, so my odds of getting it are incredibly low. I only seem to get about 10 mosquito bites a year. In a high-risk area your chances are about 1% per month but I do not live in a high-risk area.
$4500 per year is not $266/month
Crap, looks like there’s an error in my spreadsheet. I probably messed it up removing insurance from Bills. It is about $265 a month. Thank you.
As much or as little as you like that's it
But that doesn’t help anyone decide if they can make it here or not.
I'm not here to shame or anything like that it's great that people are able to live overseas and such I visit. I've been to Thailand twice and the Philippines once and I did it on basically $15 an hour. I just have hardly any bills in the United States. My rent is $150 a month including electricity because I live in a small cabin 5 x 8 actually built in the back of a pickup truck and I can stand up inside. So I have very few bills other than $150 a month rent and I don't get charge it all when I visit overseas or for 4 months of the year when I go to work at national Parks out west they do not charge me to keep it here when I'm not here. That being said yeah my average pay is 15 to 18 an hour I basically just doordash and in the spring and summer I make between 15 and 18 an hour with free housing I do have to pay for food but also there's so many other free things involved in living in national Parks free internet free laundry except for the soap free water free electric free boat rides free horseback rides and all kinds of other stuff. Just saying most of the year I'm making like $450 a week and am able to do that in the United States
@@andrewbrann6231 health insurance, that’s the main difference. Health care, gas and food would eat up my spending goal of $2k a month and that’s without paying rent.
After that, you live in a 40sq foot, cabin which is perfectly cool for some people. I’ve looked into the tiny house thing and I don’t think it’s for me. My 1 bedroom condo is 21 times the size of your cabin and my room is too small for some people. Shoot, my house was 87 times the size of your cabin so this lifestyle is already a huge change for me.
I’m 100% glad you’re living your dream, that’s awesome! We just don’t have the same dream. Another big reason I moved out here is to travel and Thailand is a great home base for seeing Asia.
@peteonretreat2023 yes I have a very minimalistic lifestyle even in America all of my bills including my food and rent and including drinking and smoking are probably less than $600 a month in Tennessee. Also when I visit Thailand the lady I've been talking to for 4 years her house is paid for there's no rent. When I visit I'll pay for the food it's about $250 a month or something for me and her easily and the electric and water is like $20 I paid that when I'm there. Yes I'm not cutting anyone's lifestyle but I live in a town of 10,000 which does have million-dollar homes but it also has homes you can still get for like $80,000 and you can still find rent around $500 and something a month in some cases. So yeah even if I had 1 million US dollars I would never buy a house over 150,000. Like I said I can travel the world and I do on 15 to 18.00 an hour. I already raised my children I had full custody of their grown they have their own children and I make 15 to 18 an hour and I travel to Thailand almost every year now the last 2 years travel to the Philippines before that work at national Parks every spring and Summer getting paid about 18 an hour plus free housing I love that kind of lifestyle and I personally know someone living in the Philippines on 1200 a month in living room really good and of course there are many RUclipsrs that claim you got to make a certain amount but there's also many with receipts showing that they're living on 1200 a month or less and that includes getting to go out and entertainment and everything
@peteonretreat2023 even my children have different goals than me. My daughter pays $1,800 a month for a two-bedroom apartment. I would never pay that much for an apartment. She can do that that's her choice but you will not find anywhere not even a one-bedroom in Nashville for 1200 a month anymore but I'm an hour and 20 minutes away you still can find 5 to 600 a month rent. I love minimalistic lifestyle because it gives me an opportunity to not have any rent. My little Kevin's paid for and I just paid $150 a month and they don't charge me anything when I go out west to work at Yellowstone or when I go to Thailand for a month at a time usually I'm going to Yellowstone or Grand Tetons or Glacier Park to work for 3 to 4 months I don't get charged anything there for rent and I don't get charged anything here for rent
Million dollar question your young it will cost you a lot you still have to go back home to work for 30 or more years 🤔😉👍😀😀😀😉😉😉
Sorry, I don’t understand the question. I’m 97% sure I’m not ever going to have to go back and if if I do, it would likely only be for a year or two.
Pete, are you your girlfriend's first boyfriend?
Yes and he is also her sons first dad.
Why do people try and be clever ?
@@gothops2632 I’m her first foreign boyfriend.
@@peteonretreat2023 Does it not bother you as a heterosexual male that your girlfriend engaged in sexual activities with other men before she met you?
@@timwalker2458the kid could of been immaculately concepted 😊
😂
2500 is all you should pay doing a yearly visa
@@timwalker2458 The fee for afirst year of a retirement visa is 10,000 then it’s 1,900 to renew. If you use an agent, it’s considerably more.
That music is intolerable.
@@patrickconnolly7799 lol, your feedback about the 20 seconds of music has been noted.
Historically, my videos with intro music tend to do much better than those without. Is there a genre you would prefer to hear?
This topic has been done to death, stop
@@clivebaxter6354 I’m sorry but this topic is incredibly popular, it makes more money than any of my other videos, and I have only made 3 budget videos in over 2 years.
I do have a lot of videos that I feel haven’t been done to death but they don’t get views. For example, I have one of the only English speaking videos on Khao Kitchakut (an amazing place that people would definitely go to if they knew about it) but it only has 1,000 views.
@@peteonretreat2023 Yawn, this crap wont last, you do know that right
@@clivebaxter6354 uh, what crap is that? My happy retired life? Yeah, I'm going to die someday just like everyone else. Is there a topic you would like to see me cover?
@@peteonretreat2023 what next street food, 7/11 or another market lol
@@clivebaxter6354 I’m guessing you’ve never watched the channel before… like I said, I’m open to suggestions. 🤔
I regularly cover things that nobody else out here does but then I also do popular videos to pay the bills. What do you want to see?
He conveniently leaves out the Salary he is paying his girlfriend plus expenses. Thats at least $1500 a month or more! 9000 baht a month is a lie!
Ha ha true dat
He did include it. Watch again.
@@GeFarr You got that completely backwards.
As I said, many people do, but not everyone. Koi isn’t happy that I give her any money at all. She’s never had a western boyfriend and didn’t want one. She isn’t a woman for hire and she turned down many offers from men that wanted to buy her things and pay her to be with them. I’ve got many friends her that can attest to it.
Your view and understand of Thailand and Thai women appears to be very narrow.
@peteonretreat2023 no I think it's spot on !!
Mate you deserve a medal only spending that much a month with a GF. I'm averaging 106k a month on same accommodation costs and we mostly cook at home.
Haha, do you two go out for drinks a lot? Koi is pretty frugal. She often talking about how things are too expensive for us to do and have to constantly remind her that we are fine. Yes, we are saving money for a big trip to the US eventually but we are far from hurting.
@peteonretreat2023 no we don't. We eat out once every 4 or 5 days but that's about it. But I think the big difference is I unfortunately sponsor my girl as she doesn't work. 3000 a week I give her for her girlie stuff so that does make a difference
How bizarre to include your storage gosts in your bills!! either identify it seperately or leave it out, a break down on bills would've been better, such as electirc, water, wifi etc
I don’t track spending for RUclips. I track it for me. My bills include fixed costs, it’s just how I track my spending.
After 45,000 views on my 2 other budget videos, it’s the first time anyone has said this was weird. If it helps you, my storage is now $103 a month.
It's not hard to subtract it if you want to, the lad is just being open and honest about what his own individual costs in retirement are.