Can your overall, annual financial budget handle increasing costs year over year?
We know of 1 high profile Facebook Group admin from the Hello Thailand FB Group that was sent packing back to work in the UK after age 60, due to running out of money, even though he had lived in Thailand for many years.
He is not the only one.
Costs will continue to increase over the years.
Cities, beach areas and tourist areas will be hit the hardest.
Places like rural Isaan not so much.
How much do you budget or did you budget for increasing costs the next 20 years?
Could you handle a 25% increase in cost across the board over the next 20 years?
Better start planning and look what a 25% increase in costs would do to your budget when you become 20 years older.
In places like rural Thailand, for those that are married, they can build a house, run it off solar power and well water and live almost expense free.
However, if you are renting a condo in the city or at the beach, who knows what can happen? What happens if the building itself needs repair? Rents could rise.
Costs will NOT stay the same in Thailand or anywhere else in the world the next 20 years.
Best start looking at your financial budget to make sure you can handle those increases over the next 20 years and make a plan.