Will Bangkok Be A Suitable Place For Retirement?

In an earlier post, I talked about retirement, and my reasons for wanting to retire in Malaysia.  During that time, one of the comparison I made between Malaysia, Singapore, Thailand, Cambodia and Taiwan was the affordability in the countries using the Big Mac Index.  Based on the Index, Thailand was positioned 3rd in terms of affordability.  So, why am I returning to this subject, and considering if Thailand, or more specifically Bangkok, be a suitable place for retirement for myself? 

The main reason is because in early February, I travelled to Bangkok solo for the first time, for a 3 days 3 nights trip!  During this trip, I had the opportunity to both immerse myself in the local way of life, as well as explore the touristy areas.  Although it is the capital city, but in my opinion, it is a wonderful place that has a pleasant blend of the prosperous 'city-life' and the down-to-earth 'countryside living'.  Topping it off with the wonderful and friendly Thais is definitely a huge plus point.  This makes me confirm the lack in accuracy of the Big Mac Index, as it does not truly reflect the cost of living for an individual staying longer term in a country/region, and the index has made the cost of living seemed more costly than it truly is.  With that, let's take a quick peep at how different the expenditures and the experiences are, as a tourist and living like a local.

1)    Cafe/ Drinks

The first to highlight is the cafe experience.  The cafe I went to is located in a small alley, with very nice ambience and greeneries.  However food wise, I think it is quite pricey, and this is confirmed by an ex-classmate of mine who is a Thai local.  He also agrees that cafes in Bangkok are getting very pricey.  As seen below, that avocado toast with poached egg and salad (350 baht), with a cup of latte (100 baht), cost 450 baht, which is around SGD 18.00!  I understand it's not just the price of the food, but also the price of the ambience.  Definitely an experience, but not suitable for retirement.

If we just go for the local experience, there are many local pop-up cafes along the main streets that brews splendid coffee as well but at a fraction of the cost!  Below is my favourite go-to stall near the hotel I stayed, and the Thai milk tea just cost 45 baht (SGD 1.80), which is half the price compared to the cafe above.  I have to say, the tea is superb!

2)    Street Food 

Street food is a popular option for many people in Thailand, both locals and tourists alike.  It is simple, with lots of variety, and mostly afforadable.  This is very important as food is a basic necessity in daily life.  Next to the hotel that I stayed in at Chong Nonsi, there is the Lalai Sap Market.  It's a street market that the locals go to get their breakfast, lunch or coffee fix.  From what I see, it is the local version of the Jodd Fairs/ Chatuchak Night Market, albeit less "atas".  However, the quality of the foodstuffs is nothing short of extraordinary!  Below are some of the food sold at Lalai Sap Market, all at below 100 baht (SGD 4.00)!

At the touristy Jodd Fairs, I would say there's more 'eye-catching' varieties like the famous 'pork mountain', and more exciting choices like humongous lobsters and prawns, as it's mainly catered to tourists.  Things are slightly more expensive here compared to similar items at Lalai Sap Market, which is understandable.  

3)    Transport

Transport is an important aspect of daily life.  There are many options available for tourists and locals alike.  As Bangkok is a bustling capital city, traffic jams are a norm during peak hours on weekdays.  As such, MRT and BTS are the popular transport options.  In my opinion, travel via MRT and BTS to different areas in Bangkok is convenient and affordable, and it is on par with the MRT and LRT in Singapore in terms of price, convenience, quality and cleanliness.  Depending on the distance, my travelling expenses per trip costs between 16 baht to 50 baht (SGD 0.64 to SGD 2.00).  

4)    Accommodation

This is the most important consideration for retirement, and the biggest percentage of retirement expenses.  For this aspect, I am only able to evaluate this based on what I find and see on Airbnb websites, as I did not stay in Bangkok for the longer term.  Based on my search results, there are actually pleasant accommodations that cost less than SGD 1K per month.  One example is this unit posted on Airbnb, which cost approximately SGD 700.00 (fluctuates depending on peak or off season) for one month's stay.  I think it is a decent unit fitted with basic furnishings, and a plus point is it is near to the MRT, which makes travelling convenient.  Overall, I think it's quite affordable, so it's a plus point for me personally.

To summarize the expenditure for this short 3 days 3 nights trip,

Total "Damage" for this solo trip:

Flight + Hotel + Insurance: SGD 233.20

Food + Cafe + Dog Cafe + Transport + Massage + Souvenirs + Tips: THB 5,400.00

(Exchange rate I got for this trip is SGD 1 : THB 25.40; Total expenses is SGD 445.00)

Dog Cafe in Ari

All in all, after being there personally to experience the simple livelihood first hand, I think Bangkok is a suitable place for my personal retirement, more than Bali.  Both are great places, but personally, I am more comfortable with city life compared to beach living (I can go to any mall and window shop for hours, but I am not too comfortable lying at the sandy beaches for long durations, but again, these are just personal feelings).  However, if the day comes, I will not be retiring there for long durations, as I would still like to return to Johor, Malaysia.  One main point for that is I do not want to trouble myself with the need to go to the embassy to do any extensions to validate my stay in Bangkok.  As such, for me personally, a duration of maximum 1 month stay per trip will be suffice, and 2 to 3 of such trips per year will be optimal.  However, I would like to highlight that all these is possible solely due to the strength of the Singapore Dollar.  As an individual who earns the SGD, the expenses in Bangkok are all fairly affordable to me.  However, if I compare the expenses to Malaysia Ringgit, I do not think it is any much cheaper.  In fact, prices are either comparable to those in Johor, or even slightly more expensive in tourist regions.

Nonetheless, I am excited and looking forward to my personal fulfilment of Barista FIRE, and even FIRE itself.  Bangkok may be too bustling for others, but for me, I think city life suits me fine.  Looking forward to it, and before I can Barista FIRE, I will look forward to more short trips back to Bangkok in time to come.  For now, Barista FIRE, here I come...!