Planning to retire in Thailand?
Do you have your budget and costs all figured out?
If you plan on retiring in Thailand and plan on living another 20+ years, take your carefully scrutinized budget and add 20% to the total.
Example: If your monthly budget is US $2,000, add 20% or US$400 to account for the cost of living over the next 20 years. US $2,400 per month and make sure you can realistically guarantee to cover your budget with your pension or retirement.
Then you should be ok, if costs rise.
I can understand cost rising more in the cities like Bangkok, Chiang Mai, Phuket. Also in the tourists areas on any Island. Pattaya could see cost rising as well.
One place that costs may remain lower is in rural Isaan.
Remember, if you are retiring to Thailand for the long term, add 20% to your budget now and make sure you can guarantee to cover it with your retirement income.