Planning to retire in Thailand but not sure how much it’s going to cost you?
Financial planning is one of the most important factors when it comes to retiring abroad. It’s important to ensure that you have enough money for the rest of your life.
Thailand is one of the most popular destinations in the world, with hundreds of thousands of retirees settling in many parts of the country. But how much do you need to retire in Thailand each month? When browsing the internet, you will see vastly different budget estimates. Some spend less than US$1,000 a month, while others spend double that amount due to different lifestyles.
Therefore, to help you plan your budget for retiring in Thailand, this article breaks down all the related costs for different lifestyles. By the end of the article, you will have a clear idea of how much you need to retire here.
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Contents
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Understanding Lifestyle Differences
Since everyone has a different lifestyle when retiring in Thailand, they all have different costs of living.
To give you a rough idea, you should have a budget of US$1,500 to retire in Thailand comfortably. For a couple, it should be at least US$2,500.
Additionally, one of the financial requirements for a retirement visa in Thailand is to have an income of at least THB65,000 per month. This is roughly US$2,000, and this amount can give you a good idea of how much you need here.
While it’s slightly higher than the number stated above, when combined with emergency funds, it’s the amount the immigration office considers suitable for retirement here. (Fortunately, if you don’t have sufficient monthly income, there’s an alternative option of leaving THB800,000 in your Thai bank account.)
Of course, depending on your preferred lifestyle, it’s possible to retire in Thailand by spending less than that. Here are the major factors affecting your retirement costs in Thailand.
- Where you live: Living in a suburb or secondary city can cut your living expenses by 30%–40%.
- Your choice of rent: Renting a modern condo or villa is much more expensive than a townhouse or apartment.
- Healthcare: A comprehensive plan that covers everything without a deductible can be very costly for retirees.
- Food: Eating international cuisine costs at least twice as much as local food.
- Transportation: Owning a car is significantly more expensive than using public transportation.
- Activities: Traveling, entertainment, watching movies, and other activities can impact your living costs.
As you can see, everything you do affects your living costs. Now, let’s explore these major costs in greater detail.
Location
Choosing where to live significantly impacts your lifestyle and living costs.
If you prefer an urban lifestyle and live in cities like Bangkok, Phuket, or Pattaya, expect costs to be 30%–40% higher than in smaller towns like Chiang Rai, Sri Racha, or Kanchanaburi.
However, the lifestyle you get will be very different.
Living in an urban area is very convenient. There are plenty of food options and choices of transportation and services. However, it can sometimes be hectic with heavy traffic and limited green spaces. On the other hand, living in a small town offers a quieter lifestyle. But it may not be as convenient as city living, and you may need to speak some basic Thai to get by.
Even within the same province, your choice of neighborhood matters. For example, living in the heart of Bangkok, like Thong Lor and Asok, can be almost twice as expensive as living in Bangkok’s outskirts, like La Salle.
To give you an idea, here’s how much it can cost to live in different parts of Thailand.
- Heart of Bangkok: US$2,000
- Bangkok’s Outskirts: US$1,200
- Chiang Mai: US$1,000
- Chiang Rai: US$800
Rent and Housing
Rent is one of the biggest factors in your monthly expenses. In Thailand, you have many choices when it comes to finding a place to rent, from a barebones apartment to a penthouse.
The table below provides a good idea of how much you should expect to pay for rent in different popular retirement destinations in Thailand.
*Remark: Depending on the location within these cities, the cost of rent can be higher or lower than what’s shown in the table.
Definitions:
- Apartment: Basic, often partially furnished, and typically located in older buildings owned by a single person or company.
- Studio: A fully furnished studio room in a condominium.
- One-bedroom Condo: Slightly bigger than a studio condo with a separate bedroom and a living room.
- Townhouse: Typically a 2–3 story house with limited space.
- Two-bedroom House: Detached or semi-detached housing with more privacy and space.
Healthcare
When retiring in Thailand, public insurance is not an option for most retirees since it’s only available to those who have been employed in Thailand under Social Security. Additionally, public insurance from your home country likely won’t cover you in Thailand.
The cost of healthcare generally depends on:
- What kind of private insurance you have.
- What kind of hospital you go to—public, private, or international.
If you have comprehensive private health insurance that covers all healthcare in international hospitals, it can cost more than US$1,000 a month. On the other hand, opting for insurance that mainly covers hospitalization with a high deductible can cost less than US$500 a month.
Since insurance costs vary significantly based on age and health condition, it’s essential to get a quote tailored to you. You can get one for free from the Cigna Close Care plan. While it’s not the cheapest option, it’s a great choice. You can learn more in our review here.
Your choice of hospital also impacts healthcare costs. A visit to a public hospital may cost only a few hundred THB, while a visit to an international hospital like Bumrungrad can cost more than THB3,000. Read our article on the cost of healthcare in Thailand for more information.
Transportation
There are mainly three types of transportation available to retirees in Thailand:
- Public transportation: Includes buses, songthaews, motorcycle taxis, BTS, MRT, and more. This should cost around US$100 a month.
- Owning a car: Expect to pay at least US$250 for fuel and maintenance.
- Owning a scooter: A cheap way to get around, with maintenance and fuel costing less than US$30 a month. Note that this may not be suitable for retirees due to safety concerns.
Groceries and Dining
Chicken and pork are the main sources of protein in Thailand, costing only US$3–US$5 per kilo. If you live in a beach city, you have access to seafood, including a variety of fish, shrimp, and shellfish. This will cost you around US$7–US$15 per kilo.
Local fruits and vegetables are very affordable in Thailand. Local fruits, except durians, typically cost less than US$3 per kilo. If you buy seasonal fruits at a local market, the price can sometimes be less than US$1 per kilo.
Beef is expensive in Thailand, and the quality is generally not as high as in Western countries. Milk, cheese, and bread are also slightly more expensive compared to the West.
Eating at a local shop in Thailand usually costs around US$2 per meal. If you eat at chain restaurants like KFC or McDonald’s, expect to pay around US$5–US$10 per meal. Dining at mid-range restaurants will cost around US$5–US$15.
In general, you should expect to spend around US$300 per month on food in Thailand.
Visa
The cost of a retirement visa in Thailand is around US$200 per year for a multiple-entry visa. For a single-entry visa, it’s only US$60. Read our guide to retirement visas in Thailand to find out more.
Other Expenses
There are other expenses you’ll need to budget for when living in Thailand:
- Cell Phone: US$15
- Internet: US$15
- Water: US$5
- Electricity: US$50–US$100/month (depending on climate and A/C usage)
Expat Community vs. Integrating Locally
Another factor that significantly impacts the cost of retirement in Thailand is how much you integrate with the local lifestyle.
If you choose to maintain an expat lifestyle, your cost of living will be much higher than those who live like locals. While it’s convenient, there are additional costs for services catered to expats, often with English-speaking staff.
Eating at restaurants aimed at expats and tourists, buying groceries primarily from supermarkets, and visiting international hospitals will cost significantly more than eating at local shops, buying groceries from local markets, and visiting private hospitals.
There’s no right or wrong choice here. It all depends on the lifestyle you want. The table below shows the cost differences between maintaining an expat lifestyle and integrating locally.
| Category | Expat Area | Local Area |
| Rent (one-bedroom) | US$500 – US$1,000 | US$200 – US$285 |
| Food | US$300 – US$500 | US$180 – US$300 |
| Cell Phone | US$15 | US$15 |
| Internet | US$15 | US$15 |
| Water | US$3 | US$3 |
| Electricity | US$70 – US$115/bi-monthly (with A/C usage) | US$22 – US$45/bi-monthly (limited A/C usage) |
| Cable TV | US$30 | – |
Planning for the Unexpected
Another important budget consideration when retiring in Thailand is to have an emergency fund, especially for unexpected healthcare costs.
To give you a rough idea, a minor surgery and hospitalization for a few days will cost around US$3,000 to US$5,000. In the case of major surgery, the cost can easily double.
Therefore, at the very least, it’s recommended to have an emergency fund of US$5,000 to US$10,000. This amount can be lower if you have health insurance.
How Much Money Do I Need to Retire in Thailand?
As seen in the sections above, various factors impact your living costs, from where you live to your personal lifestyle. The table below provides a rough estimate of how much money you should have when retiring in Thailand, based on different lifestyles.
If your budget is lower than US$1,000 a month, it’s still possible to retire in Thailand, assuming you can meet the requirements for a retirement visa. However, you will need to adapt your lifestyle and live in a secondary city. Read our guide to cheap retirement in Thailand for more information.
