• Expat Retirement
• Overseas Retirement Information

by MacAlan Thompson
and Les Strouse

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Inlaws Live at least 100 km from your local in-laws, if you have such. This is still close enough to visit, but not on a daily basis. No matter how much or, more importantly, how little money you have, they'll think you have more and it's available for "loans." You should not mind a loan on occasion, but the initial one must be paid back on schedule, or never again.

Medical/Insurance Excellent care here, fine doctors and hospitals, no real worries on this one. Much cheaper for everything than in most of Europe or America, but still not free. Many local doctors and dentists have trained abroad and speak English, French, German, Japanese and Chinese. Medical insurance is available here, for example,BUPA (http://www.bupathailand.com/), there are others. Cost may run from about $100 on up per year for what looks like good coverage countrywide.
Of note is that U.S. Medicare and many European insurance programs do NOT cover overseas. Retired U.S. Military people have CHAMPUS and TriCare for Life, good programs if you're eligible.

Cars/Insurance Many expatriates live in Thailand and do not own a car. New cars are expensive but used cars are rather more reasonable. You can get a regular 2nd hand Toyota, Nissan, or Isuzu pickup for about Baht 125,000 perhaps 3-5 years old. Possibly with four doors or the "King Cab/Super Cab" model (jump seats). Do not plan on shipping a car, the import duty would be 200% or more and not depreciated from the year you bought the car....

Car insurance runs about Baht 11,000 for full coverage, more if you buy a luxury car. For new insurance, be sure to bring a "no claim" letter from your former insurance company. This should be good for a 25%-40% discount. Thai law requires a minimum legal coverage which costs about Baht 1,500/year.

Get a International Driver's Permit, issued by U.S. State AAAs and most other country national automobile associations. It is handy in two ways. First, it will enable you to get Thai driver's license with no hassle which is great for ID when such is needed locally. Secondly, if/when you get stopped by a Thai traffic cop, you can hand him the International Permit and, ofttimes, you may be told to move on because of the language barrier and some confusion of what the IDP is. If you do get a traffic citation, the traffic cop will confiscate your license and it will be held at the local station house until you pay the fine. Better to give him your International Drivers Permit. Many expats keep several expired ones in their glove compartment for just this purpose.

Food Generally decent supermarket prices. Just about every thing's available in the supermarkets but imported products are more expensive. Learn how to live off local produce!

Banking The current exchange rate is about Baht 40+ to US$1. You can check the rate at several www sites, such as Siam Commercial Bank's https://www.scbbusiness.com/exchange/bk-txtexchange.htm

Keep a foreign bank account for direct deposits of your foreign income such as retirement funds, social security, interest and dividends. You can transfer such funds to Thailand easily. Also open one or more bank accounts here. You get an ATM card with them. Once a month write a personal check on your foreign account for deposit to the Thai account. The Thai bank holds the funds availability for 45 days (60 days for some banks) to ensure that the check clears. This is a "problem" only on your first check. After that, you're on a cycle of a check deposit every month, and clearing of the check every 45 days. If you need funds transferred quickly, use a wire transfer from the offshore account to the Thai account which takes about three working days here. You should set up with your offshore bank that they will do this based on a signed FAX from you Thailand. Bring a credit or debit card from your offshore bank. You can use it in most local ATM machines to draw down Baht directly from your offshore account.

Credit Cards Thai banks do issue credit cards, MasterCard/Visa, etc, for a price. It's well to maintain a foreign credit card, with the common foreign banking laws covering it. Stolen incoming replacement credit cards in the mails are a common problem, some people have the cards mailed to an address in their home country, and hand carried to Thailand.

International Post The U.S. Postal Service has two very good and reasonable programs: Global Priority Mail pouch, up to four pounds airmail to Thailand, for $9.50; and the M-bag, for books and other printed matter, surface mail, 11-66 pounds for $1.05 per pound http://pe.usps.gov/text/pub51/welcome.htm. Other country's postal services may have similar programs.

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