Leaving it All Behind: American's Journey to Retire in Thailand
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- Опубликовано: 19 июл 2024
- I interview Alex, an American with a plan to retire early and live longterm in Thailand. In this video, Alex shares his strategic approach to financial independence and early retirement.
As Alex delves into the discussion, he talks about the best places to settle down in Thailand and provides insights into the diverse options available for expats seeking their slice of paradise.
Alex offers his candid perspective on some members of the expat community in Thailand, when he discusses a competitive zero sum game expats play. #retireinthailand #thairishtimes #movingtothailand
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Subscribe to Alex's channel: @EasternDreamer615
00:00 Intro
01:32 moving to Thailand
05:36 my plan to retire early
13:10 The best places to live in Thailand
16:18 What is the expat status game?
20:05 Are you in a relationship?
23:15 my RUclips channel
26:25 drama in the Philippines
Check out Alex’s channel: youtube.com/@EasternDreamer615?si=fHKi7SZ0-rLYaKMG
I just turned 40 and I'm moving to Thailand this year. Really looking forward to it
What kind of visa will you get for long stay in the kingdom?
Congratulations 👍🏻
Congratulations!
Im 39 and next year im moving to Thailand ❤
@@darryl.c7972 'business visa' is an option 😉
This guy hit the nail squarely on the head. I have lived here for many years and have seen young people move over here with a pocket full of money. They lived for today and think that tomorrow will take care of itself. That simply doesn't work that way. They run out of money and often don't have enough money for a ticket back to their home country. Frequently they are now older and have a huge gap in their job history. They struggle to find a decent job to be able to start over. My best advice is to carefully plan for your retirement and build a lifetime income to be able to live comfortably in your old age.
Absolutely 👍🏻
I retired at around 45 - worked my ass off, bought a home in Thailand with a car. Have two apts collecting rent outside Thailand. I am 52 now, workout everyday, read about history and learn languages as a hobby, also I don't drink ( this is a trap in itself on multiple levels). I consider myself very lucky. Who knows the future, my investments may crash and I'll end up with zero income. Good Luck
Thanks for sharing your story, do you mind sharing how much your two apts bring in a month? Trying to figure the number I need coming in per month from rentals to make it work.
2000 minimum cash flow after all expenses on rentals and other source of income is recommended in my opinion.
@@coryjackson3131 thanks for taking the time to reply Corey. Sounds about right
👍🏻 your welcome good luck with your retirement plan. Thailand is great 🙏
Congrats!
Thanks so much for having me Pete! Cheers!
Thanks for coming on Alex, all the best!
There is a difference between retiring and dropping out.
And tuning in' lol.
@@slapdogpuppyspank8754I'm getting turned on 🎉
Having little discretionary income when you are young might be considered vaguely romantic... having little discretionary income when you old - just plain sucks. Most FIRE proponents return to work after their early retirement.
Yes, FIRE is a fad....
Possibly one of the best interviewers since oprah...🙏
Your a 15 yo bum, cool
Haha cheers buddy😂
This dude is based AF. Expert takes in ways that no other nomad has brought up. Legit one of the best interviews on the subject I've ever seen
Coming from the n3rd who said " first 🤓
Thanks so much ripsaw :)
"To EXIST in Chiang Mai is not very expensive. But to ENJOY your life here..." 💯
I like Chiang Mai too but the burning season has concerned me for a permanent place to live
The burning season is the best time to get out of Chiang Mai. I mistakenly visited Chiang during the burning season. So bad I couldn't even enjoy a cigar or a beer. I stayed two days and left. However, a beautiful city and I did enjoy my time there with the exception of the air quality. I plan to visit again in the future.
You're complaining about air quality, whilst enjoying a cigar!?
Can you not see how ridiculous that mindset is? 😂
@@Thai.Faranglmfao the irony
@@Thai.Farang Appears that I didn't explain myself well. I did NOT have a cigar nor any beer. That is what I meant by saying I couldn't even enjoy a cigar or a beer. Hope this explains it better.
Oh the irony. Carcinogens from a cigar is perfectly fine, but smoke from burning crops, no bueno. lol
As a rule of thumb, to calculate how much money you need to retire early is to multiply how much you need per annum and then multiply that figure by 33 (3% rule). For example if you want £50,000 per year adjusted for inflation (50,000 * 33 = £1,650,000).
I understand this guy might not be everyone’s cup of tea and I don’t agree with everything he says, but I don’t think there’s anything wrong with having a plan. I’m basically doing the Fire thing, though I didn’t know it was a movement.
I worked in Thailand and had a wonderful time but did the math and knew I’d never save enough to retire, and would thus have a very precarious existence as I got older.
I likewise hope to invest enough whereby I’ll never have to be a slave to an employer again. That doesn’t mean I’ll stop working. But I’ll get to live life more on my own terms, as much control as I or anyone else has in this regard.
It’s not such a terrible idea if you are realistic and can swing it.
Nothing wrong with having a plan, plenty don’t and live day to day
Yes, it's tempting to throw in the job and go for it, but many don't think about how they will support themselves in retirement. Best to think logically and have a bit of patience while still having a plan.
@@Regi869I personally have a goal of dividend and savings account account income that equals an annual (but reduced) salary.
You keep the underlying assets and earn off of them. Then social security and IRA down the line as a cushion.
But I’d also continue working as a freelancer when needed or if I want to shore things up a bit.
The guy in the video said something similar.
Perhaps we all heard him differently. Because it very much does seem like a plan that accommodates getting older, as long as you budget for the rising costs of private healthcare.
Good point Eastern Dreamer about expats comparing to recreate/re-assert egos in the midst of change.
He is a very likable guy ,easy to interview.
At this stage Id describe him as rootless.
Possibly because he lost his parents early and of a mixed race . His goals should be set higher than moving to Thailand at 40 at the height of his financially productive years.
If he had a passive income of say, $2000 a month which he could supplement off shore a bit he could move to Chiang mai permanently .
Thats the yardstick, not 40 years of age .
He could also benefit from a family set up.
Thats the way I see it and I could be his grandfather. Btw,I also live in Chiang mai but I didn't retire until I was 60.
At 31 and not much family support he needs a good network of friends which he hopefully has in the States .
Chiang Mai is great but for a 32 year old expat it's a bit too early to plan to retire to at 40 .
He should work another 20 years in the US, come to Asia on holidays and just build wealth.
Signed: the Sage, 🙂
Solid advice
Nashville is similar to Chiang Mai without pollution. I'm a Thai used to live in Nashville for 2 years. If you love big city, Bangkok maybe suite you. If you love beach with beautiful island, Samui or Phuket may suite you. If you love Mountain and Hiking, Chieng Mai or Chieng Rai may be good for you. If you love nightlife and beach, Pattaya is good. If you love slow life and ad beach for retirement, Huahin is good. If you love slow life and mountain, Khao yai is nice.
So many great choices in Thailand, thank you for sharing saksitb3491! :)
Thanks bro
Thumbs up 👍 Pete & Alex
Great video Pete! I’m in a similar situation. Just turned 50, live in the Us. I work a blue collar job with just a high school education but I invested well and bought rental properties so I’ve saved a few million and everyday I ask myself if today is the day I retire ?? I still work my normal Job but it’s not for the $ really. It’s to pass time because I think I’m too young to retire. My parents died at 68 and 69 so that weighs on my mind as well.
I love to hear stories like yours. Best of luck with your decision bud
You are falling for the trap, never enough money. Crazy IMO to keep working.
You are done, fear?
I retired around 40ish when the U.S. decided to make it illegal to have an economy while transferring wealth to the rich. Traveled all around. Thailand is by far the easiest place I’ve been. I actually think that’s why so many people mess up. If you live somewhat normally, and don’t treat every week like a vacation, you’re in paradise already. Very few countries offer this cost of living with this much safety
Just finished work in nyc 2am now will be tight to see it after a few scoops...
Get the scoops in
Living in Chiang Mai during the burning season will probably contribute to the shortening of ones life span.
Great interview
This guy is cool.... he's been to burning man 😎 I've watched a lot of videos on RUclips & it looks great, he sounds like he's got it well planned out & wish him all the best....
Very interesting interview!
What did you learn?
Thanks so much :)
Hat Yai is awesome,highly recomend,i have a house 40 min outside the city
I really enjoyed my time in Hat Yai, I'm in Krabi now :)
I can't wait for it. It should be a great video ❤
Sorry, I missed the start, 😂but from what I'm now hearing of the debate, I'd say that everybody is different and we simply cannot compare ourselves to others. We all have different backgrounds, means, desires & aspirations, etc.
Im scratching my head trying to figure out what helpful info was shared by the guest ...lol anyways you're the man Pete
Schedule a follow-up interview from a year for now. I'm curious to see how it worked out for him. Best of luck 👍
Good luck to Alex and his plan 🤞 that would be great if he retires at 40. All I would say is enjoy your 30s !!!!! As time starts to move so fast after that !!!!!!! Great vlog Pete
He seems pretty level-headed and not egotistical at all, approaching life as a student instead of thinking you know it all will get you further down the trail.
Nice Interview, but I like his idea’s more concrete on that young age. 🙏
I want that too!! Smart Man
You will get there ShaneO mate
Thank you so much shane0 :) I agree with Dave, you will get there!
Mmmm... "messed up dating in the West?" Nah, I don't think so. I live in the USA - Florida. Dating here is great. Really hot Florida babes. I visit Thailand, yeah - really hot Thai babes. Great women both East and West. I think you just need to understand dating and women. Sadly some guys don't. Lol, when it comes to giving advice, he should stay away from dating advice.
I had the best sex of my life in Miami, but the girl was from PA😂.
You should start a dating service as I do agree that men need to learn about dating in any country, not just the U.S. or Thailand.
I subscribed to an expat channel and then found out that it was a 55 year old English guy who moved to Thailand to marry an 18 year old. So many incels in Thailand, I bet.
You see larger age gaps than that there. It's disgusting.
It's their Mecca along with Vietnam and Philippines... incels cashing in their western privilege, it's gross
@hobo1704
I guess you're not old yet, lol
@@alanjohn9789 nope
A 31 year old lecturing to older people about retirement and what they can do and what their mindset will be 🤣🤣 Let me tell you young man, you can still live an amazing life in the West, not be frugal and still enjoy a great life in Thailand in your later years, and playing long term boring stock and shares (investment portfolio) isn't the only way to achieve this goal. In fact, I think it's a pretty poor way to achieve those goals.
Publicly traded companies can and do cut dividends in response to an economic downturn, negative earnings, or more serious threats to the company's health.
The pollution in Chiang Mai is overwhelming
I always wonder, what visa are people like this on? Do they just do visa runs?
Right? Why doesn’t Pete ever dig into this? I’m assuming he’s on one of the “online” ED visas
I like this guy. Sounds like he's got his head screwed on right. All other foreigner stories are about old men with failed marriages two or three timing with bar girls, their main reason going to Thailand, blowing up his entire account being scammed by a "date" he met on dating sites. He doesn't even drink, and is prudent with his finances. Keep it up.
What he calls the expat zero sum game is just good old fashioned bourgeois “keeping up with the Joneses” behavior. Middle class petty bourgeois people have been benchmarking their behavior by comparison to their peers has been going on everywhere for a long time. This is not unique to expats in Thailand. It is just petty bourgeois, middle class pettiness.
Good luck to him, but I feel he's still much to learn about Thailand
Nice interview. I'm also a US expat living in Thailand for over 4 years. Would love to be a guest on the channel if you're interested!
Hey Pete, this guy is great! He was on RW4U a while back and I enjoyed his interview a lot.
@@EasternDreamer615 Much appreciated
Didn’t have money to get a wisdom tooth removed AND buy a plane ticket?? This guy is ‘not thinking about the long-term’.
The flight was $500, the wisdom tooth removal was $220. The condo was $375 for the month in Chiang Mai. I spent around $2300 for that month in total, including the surgery vs. $2000 getting it done in America, My first trip to Thailand was priceless :)
F.I.R.E and Mr Free at 33, Great movement, i guess that makes me an unknowing Pioneer in the movement.
I completed it 10 years ago at 33, House, 2 Cars, Thai Wife, Kiks, 2 kids, lots of expensive toys, living on 150k per month, Savings, Monthly passive Income
Never going back home
I called the downfalls of westeren socioty back in 2008 when i started inacting the plan.
I am the poster child for FIRE
Rio Tinto, Enbridge, Vale, all high yield long term dividend stocks.
Cool guy. Down to earth, Much luck for his future
Is he a fan of The Simpsons ... ? ;)
I am a fan of the Simpsons :)
I would like you to cut through more of the BS and call these people out to their face. You do in it a passive way, but just call people out on BS you and the audience know about. Especially when they are lying about Thailand, since you are very familiar and knowledgeable in that realm.
Dont hear any BS from him?!
31? Just enjoy your life fella.. Let ya hair down, stop worrying about retirement.. Ya thirty years old Ffs
Exactly. Life isn't a race
Peat needs to be careful. He's channel not taking down. Tell us all he has a really big one. Lol 😂😂😂
Dude is 31 but looks 51
Just a different philosophy from Toni?
@@slapdogpuppyspank8754 from Tony Huge? 😄
I'm glad I never had a corporate job...
Stress from over working in order to retire early. Some people forget there it is detriment to your health. Life takes time..
He looks like a classic $imp … 😂
Life can surprise you, often in bad ways like a health crisis or whatnot, so I wouldn't retire too early unless you have a stash of cash.
You need at least 2000 per month to live comfortably in Thailand although you can live for less. Just depends on the quality of life you want. I personally recommend 2500-3000 per month. What do you guys think?
A single person would live in very well in Thailand for 2500-3000 USD. Word of advice though, find hobbies that don’t involve alcohol
@@ThairishTimes absolutely 👍🏻 agree
@@ThairishTimes alcohol and no thai gf too 😅
@@-A.D.- 😂
If I get laid off I am off to thailand to start my retirement from corporate America 😊
1st
Wow. your important . 1st comment means you sad and don't do anything Timmy
Has some wisdom for his young age
Strange guy, he looks mid-50s, he definitely likes the sound of his old voice
I can see why he's single. Can you imagine listening to him babbling on alday 😅 🤖 😴
Leave now. I been doing this since 1971.
Best bet is to get a Government job in the USA, police or fire... Retire at 50 or 20 years of service with a pension, lifetime medical, and stay single and no kids amd you will have big money to spend in Thailand....
Im confused he said he is part japanese but he looks completely indian
So let me guess. This ‘financial advisor’ runs an MLM.
lol im gonna be one of the broke homelss guys lol im a bricklayer work 6 motnhs stay in england live with my mum lol then i go too thailand and live like a king spunk all money and repat till i get a wife
This guy is dreaming about retiring early,not working now when he should of saved his payout money.
Then to retire at 40 he would need to be saving $100-200k a year which might last him to 60,does he have a pension?
Another of these "FIRE" enthusiasts. All they think about is "retiring"... what about building a career, a business, instead of just focusing on retirement. Retiring for most men is statistically not a good thing for health. Leads to low income. And early death.
Fire enthusiast here. I don't want a business since the odds of failure are high. I am focused on my career to make the number to retire. I want to work hard, save frugally and quit early in my mid 50's.
You aren't stuck in traffic, you are traffic. Foreigners moaning about other foreigners making them look less special. If he's going to live in Chiang Mai he won't have to plan for such a long retirement.
What a sad, sad man.
He's gonna die at 42
Then he'll have had two more years in retirement than my friends did who died before retirement.
This interview gave me a headache.
why would anyone retire at 31 and become a useless bum
Cool interview Pete..
Thanks mate 🙏
Too much incoherent, useless babbling. Stopped listening
😢😉
Anyone who thinks at a young age, you can live here and not deal with real life costs and emergencies and other unforeseen issues, are delusional. Think about Healthcare as your number one issue. Visa is your next concern. If you want to retire here, build up wealth in your home country and set at date, be disciplined and do your best to avoid scams! Or else you will be on a plane back home faster than a speedboat to Koh Larn.
That's what he's doing. Working hard, living frugally until he hits his number which should be accounting for everything including ongoing health insurance costs.
Sometimes ive walked into a Country and fallen into some expats. After a week or so, i understand Thai culture. Thats when i walk away..
Irony.
Wow, what a genius. You "understand" an entire "culture" after ONE (1) week...sure buddy, whatever you say!!!! LOL!!! :)
@@regulargeye2009 irony.