Well good luck to you on your plans to live elsewhere.
I know that if you dont speak Thai, you will not find living there easy let alone do a business. Do a thorough study on the culture, safety, convenience, cost of living etc.. , Dont forget, when you are older, your energy level is also lower. So convenience to amenities becomes very important. And living near cities will not be cheaper.
So, many retirees still stay in Singapore for the above reasons. There is indeed no place like home - where your family and friends are.
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Originally Posted by Unregistered
We are in our late forties. Thanks for sharing with us that we are not alone. As you mentioned, 80% of Singaporeans are in the same boat. Selling our 4 room flat and buying the hdb studio flat would be what we would do if we want to retire in Singapore. But we need to have at least $1m in cash for our retirement spending (besides the payout from our retirement account).
Another idea is to rent out the whole of our 4 room flat to get a monthly rental income of $3k per month while we retire in Thailand. Someone here mentioned you can retire in Chiang Mai comfortably with only $1k per month. This means we get to live in a big house, enjoy good food and save $2k per month. With this savings, we can even help our kids to pay for the downpayment of their BTO flats. We can also spend time travelling other parts of beautiful Thailand, such as Krabi, Koh Samui, etc. Maybe we can even set up a small business in Chiang Mai. |