Editor’s note: "Retire in Thailand" is part of an ongoing series on retiring abroad. To see all the articles in the series, jump to the end.
Thailand is known for many things.
Ornate temples, dizzying skyscrapers, the native home of the Siamese cat, the birthplace of Red Bull, and more recently, the site of the third season of the hit HBO streaming series, "The White Lotus."
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That says much about Thailand, as resort hot spots have embraced The White Lotus experience. Curated dining events, hard-to-get White Lotus tea reservations at the Four Seasons Hotel Bangkok, four-night excursions to Phuket and Koh Samui, two primary filming locations for the show — all the experiences the show’s high net-worth wanderlusters might do if they were in Thailand for a week.
It turns out that American retirees can not only have the same experiences as White Lotus travelers (minus the intrigue), but they can also wind up calling Thailand home. And while dark comedy riffs on the tension between luxury tourism and local communities, Thailand is a particularly welcoming country.
Retire in Thailand, but don't expect "The White Lotus"
“As great as the show is, 'The White Lotus' is not representative of Thailand,” says Aaron Henry, founder and managing director at Foundeast Asia Co., Ltd, a Bangkok-based marketing agency. “People who are thinking about moving here should be aware of some of the positive and negative realities.”
Henry, who’s lived in Thailand for nine years, says he’s used to fielding queries about moving to Thailand (he recently helped his old neighbors from Los Angeles retire to the country). He’ll always answer those questions candidly and with pride over his new Southeast Asian home base.
“Thailand is consistently recognized as one of the world's top retirement destinations,” he says. “In 2023, Forbes ranked Thailand 9th on its list of the 10 best countries for retirement — the only Asian country to make the list.”
Henry notes that Thailand’s appeal lies in its tropical climate, world-class healthcare, and vibrant culture. “Bangkok is a diverse city culturally and across cuisines and lifestyle experiences,” he says. “However, while Thailand still offers excellent value compared to the United States, the cost of living is rising, especially in Bangkok, Phuket, and Chiang Mai.”
While Thailand still has plenty of affordable housing, a recent influx of people from countries like Russia and China is absorbing more properties. Additionally, maintaining a Western-style lifestyle requires a higher budget than it did a decade ago.
“That said, retirees who eat 'local' and closely manage their budgets can still find Thailand to be very affordable. Much of Asia has surged ahead of the U.S. developmentally — from infrastructure to tech to cultural offerings,” Henry adds. “This is true of Thailand, too — especially Bangkok.”
What specifically should would-be retirees know about Thailand? Here’s a capsule look.
Thai Geography
The 50th largest country on Earth, Thailand is not, as many suspect, an island nation but a full-sized country bordered by Myanmar, Cambodia, Laos, Vietnam, and Malaysia. With a long, finger-shaped coastline running down to Malaysia, the country has numerous jungle islands on its Gulf Coast and the Andaman Sea, with Koh Samui, Koh Phangan, Koh Tao, Koh Lanta, and the Similan Islands among the most popular tourist landing spots.
The locals are warm and welcoming but don’t confuse that with nonchalance. Thailand is the lone Southeast Asian nation that has never been colonized by a European superpower.
“Thailand draws people in with its warmth — both the climate and the people,” Henry says. “Most people who come here for any length never leave, not by choice, anyway.”
Americans who visit Thailand, like most international travelers, view Thailand as a stimulating but also safe and comfortable alternative to “wherever they came from,” Henry notes.
“For Americans, Thailand is geographically a lot more distant than it is for people from other Asian countries, Europeans, or Middle Easterners, which results in less familiarity and understanding of the country, or understanding of its unique appeal as a destination and place to live.”
What is Thailand's culture like?
Thailand is a very attractive destination for retirees as Thailand is consistently ranking high in global retirement indices. “
Thailand is affordable, the weather is fantastic, the culture is diverse, the food is delicious, and the people are exceptionally friendly,” said Will Hatton, founder and CEO of The Broke Backpacker, a site dedicated to adventure and travel. “Compared to the US, the cost of living is much more affordable. “
Hatton says there aren’t too many issues when you decide to jump the plane and relocate to Thailand, with some caveats.
“If you don’t speak Thai and solely rely on English, then you may have a tough go,” Hatton said. “Most places do have a basic understanding of English, but knowing the basics in Thai will surely enhance your day-to-day.”
There’s also a cultural difference, as Americans deciding to retire in Thailand may find it difficult to adjust. “If you’re used to a certain way of doing things, it’s not going to be the same,” he adds. “Understanding Thai customs and social norms is vital for a smooth transition.”
Cost of living in Thailand
The cost of living is much lower than in the U.S. However, like in the States, lifestyle costs depend on where you buy a home.
“If you find yourself in a popular tourist hub, then you’ll pay more to buy and rent. If you are outside, then prices will drop considerably,” Hatton noted. “For instance, you should be able to find a private apartment in Bangkok to rent for about $450 a month. If you want something more luxurious, then expect to pay more. Utilities are more than affordable, and eating out won't break the bank; even groceries are on the cheaper side.”
U.S. retirees thinking about Bangkok or Phuket should know foreigners can't own land in Thailand but can own condominiums.
“A (very) small condo outside Bangkok’s city center might cost as little as USD 60,000, while luxury units in prime areas like Sukhumvit or Silom can exceed USD 1 million,” Henry said. “Renting a two-bedroom apartment ranges from USD $500 to USD $2,000 per month, depending on location and amenities.”
Dining out can be incredibly affordable — or remarkably luxurious and expensive.
“A meal at a local Thai restaurant can cost USD $3–5 per person while dining at a high-end restaurant like Potong can easily exceed USD $100 per person,” Henry adds. “At either end of the dining spectrum, you get much more for what you pay than in the [U.S.].”
Thailand’s inflation has been mild and seemingly well-managed by the Thai government. “Monthly utilities, including water, electricity, and internet, typically range from USD $100 to USD $150 for an average apartment,” Henry says. “Utilities can be cheaper in townhomes than in houses, which is good to remember for budgeting and value.”
For example, Henry’s monthly utilities in his last condo in the center of Bangkok averaged $300 per month. “In the townhome I own with my wife at the east end of the city, our utilities (with brand new, efficient air conditioners) are less than $100 per month,” he added.
Healthcare
Travel experts say that healthcare is one of Thailand’s biggest strengths.
“When my youngest child got sick during our visit, we went to a private hospital in Bangkok,” said Elaine Warren, a global traveler and founder of The Family Cruise Companion, a blog dedicated to cruise travel for families with kids. “The care was fast, professional, and much cheaper than we would have paid in the U.S. You need insurance, though. If you get seriously ill, costs can add up quickly.”
The hospitals in Thailand are modern, the doctors are excellent, and the costs are surprisingly low, said Brenda Beltrán, a travel writer at Holafly, a destination services company for global travelers.
“Private hospitals are often the top choice for expats because they’re very reliable,” Beltran said. “I had a small medical issue while visiting Bangkok, and the whole experience — from the consultation to tests and medication — cost under $100. Many retirees buy private health insurance for bigger expenses, but it's not overwhelming even if you pay out of pocket.”
Private hospitals in cities like Bangkok are known for high-quality care at a fraction of US prices. A routine doctor’s visit costs $30 to $50, while a more comprehensive checkup costs $100 to $200.
“Many retirees also opt for private health insurance, which often costs between $1,500 and $3,000 annually depending on age and coverage,” said Steven Kibbel, a financial planner and founder at Kibbel Financial Planning in Nashville, Tenn. “Without insurance, paying out of pocket for medical care is still affordable compared to US rates.”
Documents and paperwork
Getting a visa can be confusing at first. If you’re over 50, you can apply for a retirement visa.
“You need about $22,000 in a Thai bank or proof of a monthly income of $1,800,” Kibbel said. “It’s best to get help from a local expert to avoid mistakes. Taxes can be tricky. Even if you live in Thailand, you still have to file U.S. taxes. There’s a tax treaty to avoid paying twice, but it can be complicated. It’s smart to talk to someone who knows both U.S. and Thai tax laws.”
The U.S. has no tax treaty with Thailand, so retirees must carefully navigate their tax obligations.
“U.S. citizens living abroad are still required to file U.S. taxes, and Social Security benefits are taxable,” Kibbel added. “Thailand itself doesn’t tax foreign retirement income, but retirees should keep records of their finances to avoid complications.”
For U.S. retirees withdrawing from an IRA or 401(k), it’s crucial to understand how U.S. tax law applies to those distributions. “Working with a financial adviser experienced in international retirement is the best way to stay compliant and avoid surprises,” Kibbel advised.
The takeaway on retiring in Thailand
To those lucky enough to have visited Thailand, it’s an experience they’ll never forget.
“I still remember waking up in Chiang Mai for the first time,” Warren said. “The smell of fresh street food right outside my window, the sound of scooters buzzing by, and monks in orange robes collecting alms as the sun rose. It felt new, but it felt good. That feeling is what draws so many US retirees to Thailand. It’s not just a place to relax; it’s a place to live fully.”
The hardest part for many Thailand retirees is being far from family.
“Video calls help, but they aren’t the same as a hug,” Warren said. “Planning trips home or encouraging your family to visit you is important. There are direct flights from major U.S. cities to Bangkok, and flights within Thailand are cheap. When my family visited, the long flight was tiring, but it was easy to book, and having them here made it worth it.”
Even so, Thailand is a great choice if you want to enjoy retirement without worrying about money all the time.
“Life here is affordable, the people are friendly, and there’s always something to see or do,” Warren noted. “I spent two months here with my family, and it became clear why so many retirees settle down. You can eat out often, travel around, and still live comfortably on a modest budget.”
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