John Walker, 73, left Australia for Thailand in 2019 to retire. He lives on an annual pension of $18,000 and saves 40% due to low expenses. Walker’s studio apartment costs less than $200 a month, and he has everything he needs, including air conditioning and a basic kitchen.
Walker was drawn to Chiang Mai’s beautiful temples and mild climate after his first trip there in the early 2010s. He now lives off his pension, which allows him to save about 40% of his income due to low expenses.
The cost of living is cheap, making it an attractive option for retirees. Walker has met people from all over the world who have chosen to retire abroad. Thailand has a huge retirement community, and Walker’s lifestyle is significantly cheaper than what he would face in Australia.
Walker’s pension would not be enough to sustain him in Australia, but it goes far in Thailand. He uses his savings to prepare for unexpected costs and healthcare fees. Despite living alone, Walker makes an effort to meet new people by joining local social organizations and attending group wellness retreats.
For those considering retiring abroad, Walker advises researching a country’s culture and cost of living before making the move. He also recommends visiting the destination at least once before committing long-term.
Walker is planning to move again, possibly to Majorca or Costa Rica, and is open to exploring new destinations.
Source: https://www.businessinsider.com/boomer-moved-thailand-cheaper-retirement-lives-off-pension-travels-world-2024-8