Why Many Expats in Thailand Go Broke: Factors and Advice for Prospective Movers
Vložit
- čas přidán 6. 07. 2024
- Discover the key reasons why expats in Thailand often fall into financial troubles, from underestimating costs to overspending. Get valuable advice for those planning to relocate to Thailand to avoid the same pitfalls.
BUY ME A COFFEE: buymeacoffee.com/LivingChiangRai
VISA INFO: www.thinkthailand.com/how-to-...
EMAIL: jenchiangrai@gmail.com
DISCLAIMER: The information contained on my channel is for general information purposes only.
The information on the channel is provided with the understanding that I am not herein engaged in rendering legal, accounting, tax, or other professional advice.
As such, it should not be used as a substitute for consultation with professional accounting, tax, legal or other competent advisers.
Any promotional videos that I include for local businesses are always free and I make no commission.
I live in Mueang Phrae in the old part of town. I have a pension and Social Security benefits. My entertainment is CZcams - Old Time Radio, audiobooks and classic movies. I studied mathematics and Chinese online but now study Thai. My Thai wife and I have a shophouse, car and motor scooter. There is a nice restaurant next to our shophouse and the morning and night market are just 2 blocks away. I cannot imagine things being simpler. My health seems good.
That's what I like to hear. Keep on truckin' mate.
well done
I lived in udon thani got the cost of rooms spot on, i rented a 3 bedroom bungalow 10,000 baht a month and before that a 1 bedroom apartment 5000 baht plus air con use
Bang on Ray, you've covered the topic well & allowed room for further in depth details, for future videos.
Aren't you intuitive.
Good advice Ray.
I hear people saying constantly in conversation that Thailand is cheap & it is for a holiday when you can return home & replenish the bank account.
Part of the trouble is that there are some things are not that cheap & close to the same price as back home.
There are also so many things designed to extract money from you IE: 711 on every second street corner in the cities.
Entertainment & alcohol (which I love) have been & are still my biggest expenses on holidays.
I know if I were to live there, I would have to tone it down to once every couple of weeks otherwise I would be broke in 2 years with no pension to keep my capital from falling off a cliff.
Another factor is the exchange rate which is unpredictable & out of our control is not exactly on our side either the last few years.
Cheers
PS: That white temple is absolutely stunning.
Thank you so much for your spot on comment. The exchange rate has been much kinder to you than to us Australians. In 2011, I think it was around 31-32 baht to the AUD. In 2012 or 2013 it started dropping and has never recovered. Now it hovers around 22 - 23 baht. If it goes back up before I croak, I'll be fat, dumb and happy.
Thumbs up 👍 Ray
Nice video. Sums up the normal things in life that seem to get lost when living in the land of smiles. 👍❤️😇
So true!
Great job Ray!
Thank you Graham
Excellent and informative as always. Good chap. Keep uploading the splendid vids 🙏😊
I shall try.
Nicely put Ray... 👍👍🦘🦘
Thanks Bill.
Very informative Ray
@@colinsmith7343 thanks Colin.
Very good
Thanks
Excellent advice and will definitely try and follow all of it. I will be receiving a small pension and also have some superannuation and a redundancy payout, just hoping the next tax laws do not try and dip into it 🙂
I doubt the tax pain will be too severe, assuming you will be taxed at home.
Ray - very good summary and you are exactly right - I would add, 1) visit Thailand for extended holidays several times if possible to get a feel of the lifestyle and cost of living, 2) do not rely on the allure of young YT Vloggers who promote cheap cheap cheap which I take it the younger, less mature & risk taking segment seems to fall for - if any YT Vlogger to listen to, definitely follow ALL ABOUT LIFE IN THAILAND.
Jackson, thank you for your additional comments, they are sound advice. Also thank you for the promo.
@@AllAboutLifeInThailand well deserved promo Ray - keep up the great work SIR.
What ever amount of money you think your going to spend plus 50% should be enough as long as your not a bar fly. Or you'll be going home skint.
I hardly drink much or coke soft drinks I could hug 3 to 4 drinks all night
That's about 10,000 - 12,000 baht per month.
Retired early 2023 > Main expenses in THAILAND: #1 Visa #2 Rent + Utilities #3 Medical Insurance #4 Transportation #5 Food #6 Accountant #7 Internet and #8 Entertainment is last on the list.
You have obviously got your ducks in a row.
@AllAboutLifeInThailand My escape plan from USA since 2010!
Good luck.
What about some coastline places a day at the beach can be one of the least expensive things to do
Yes, the beach is free, but living close to it isn't cheap.
@@AllAboutLifeInThailand I guess save coastline places for breaks if buget permits
Now you've got the thinking cap on the right way round.
how about east side of Thailand
Along the Myanmar border?