I am starting to think the ideal monthly income level for expats, married or with a gf, is US $5,000. (No kids or education expenses).
Now that doesn’t sound cheap does it?
US $5,000 equates to ~165,000 thb per month.
After you buy a house, land, new car, motorbike and park your annual visa money in the bank, a monthly income of US $5,000 is ideal.
All the boo birds will start chirping you don’t really need that much, however, they are not looking long term or at the big picture.
Most can live with monthly living expenses of 30,000 to 40,000 thb per month depending on location.
That would leave you approximately 125,000 thb per month (Left over from 165,000 thb (US $5,000) per month.
125,000 thb per month ~US $3,800 a month. That sounds like a lot or does it?
For those that moved to Thailand with existing medical conditions, which are many expats, they may find out they are uninsurable for existing conditions.
They will have to self-insure, which means putting a set amount of money aside each month to cover any medical emergencies with cash.
A one million thb medical bill, which is not unheard of in old age, would cost you 1,000,000 thb/33thb or US $30,000. That US $30,000, you would have had to have saved US $2,500 a month for the entire year.
Take a look at these average fees for common surgeries and procedures, including cardiac procedures, orthopedic surgery, cosmetic surgeries, and eye surgeries:
• Heart bypass surgery – US$15,000
• Heart valve replacement – US$17,000
• Hip replacement – US$17,000
• Knee replacement – US$14,000
• Gastric bypass – US$17,000
• Cataract removal – US$2,000
Motorcycle accidents up to US $63,000
Now even if you planned to save US $2,500 a month for medical insurance, you would only have US $1,300 a month left over to cover savings, trips, expenses, prescriptions, repairs, dental or anything else that pops up during the year.
If you can afford to easily save US $2,500 per month for your self-insured medical, you should be able to handle all major medical emergencies that occur in your old age in Thailand except for car/motorbike accidents with multiple issues.
Some years, if you keep yourself healthy, you many not have to spend that $2,500 medical each month.
The idea is at US $5,000 per month, you should be able to cover everything.
Most folks with never plan for medical, existing conditions, old age, etc.
But a fact is, everyone gets old and breaks down sooner or later.
$5,000 is a lot of money each month, but the same issues you may be covered at home with insurance, you may have to cover yourself here.