1. Complete Estate Planning
Although you extremely looking forward to the adventures that await you during this new stage of your life it is also important to tie up loose ends before you move on to your dream retirement. It is important to consult an executor as this process can often be very complicated and time consuming to do on your own. Realistically, it is common for an executor to be given commission. Executors may be eligible for a commission where the percentage is not exceeding 5% of the total assets and/or income of the estate. You may state in a will in a rate of payment, a specific amount or specify a specific gift to be received by an executor.
Estate planning involves deciding what you would like done with your property, wealth and possessions should you pass away. Since you are retired in a faraway country, this can make the process all the much more complicated if you don’t take care of it before you leave. By creating a clear and specific list of instructions you have successfully checked another item off the list! Taking care of all your estate planning before moving will have you headed into retirement worry free.
2. Finding a Place to Stay in Thailand
Congratulations! You’ve made the final decision to retire in Thailand. But now what? A dream retirement would be incomplete without the dream place to live. In order to buy property in Thailand as a foreigner, you will want to make sure you have the information on buying property in Thailand and the aid of a property consultant. They will undoubtedly have a firm understanding of the differences in Thailand’s housing markets and the housing market you had previously resided in. Property consultants will know what a good and bad deal on a place to live is and be able to steer you away from potentially hazardous living situations. With the proper planning you will be retiring in style and comfort. Knowing all about the ins and outs of your new home before you make the big move is sure to give you something to look forward to a relieve any unnecessary stress from your life.
3. Have a Health Care Plan in Place
Retiring in the beautiful country of Thailand is a dream come true for many expats located around the globe. The nightlife, vibrant culture, thriving communities, high-quality cuisine, and aesthetic scenery are just a few of the many attractions that lure people to the area after their work life is over. However, one must have a comprehensive and detailed health insurance plan set in place to ensure that their life may be lived to the fullest; even during times of emergency.
Medical insurance Thailand for expats is something that interests many foreigners in that the cost of medical procedures in the country of Thailand are much lower than the rest of the world. Living in Thailand with a sound medical insurance policy will afford you the peace-of-mind to fulfill your goals and dreams while living in the country.
4. Consider Retiring With a Spouse or Friend
In conjunction with having the expat health insurance for Thailand, it is important to consider retiring with a friend or loved-one while embarking on this amazing country. The Thailand populous is very culture and community based–citizens often live with 5+ residence within one household. Being single within the community will not only make you stand out, it will also make people question your dedication and authenticity towards the culture.
Retiring in Thailand is best spent with a spouse whom you can enjoy the company of while going on the many excursions that are presented to you during your stay. It will also provide a safe-net should anything happen to go wrong.
5. Adopt an Adventurous Soul
Always be on the lookout for adventures that can be explored during your golden years. The next time a native of the Thailand life asks you to go out for some fun, all you have to say is “khob khun!” Adopting a mindset of ‘yes’ will allow you to fully experience all that Thailand has to offer its residence–especially those that are retired! Having a negative attitude towards change and fun is a sure-fire way to guarantee that you will have a negative experience in Thailand.
6. Always Have Your Passport
Another tip that needs to be emphasized is that of having your passport on your person at all times. Thailand has very strict policies in terms of visitors having their passports so that government officials can properly understand their intentions while visiting the country. In some areas of Thailand you can be jailed by the local police for not having your passport for presentation during the time of arrest. Always make a habit of putting your passport in your back pocket before leaving your home or area of residence. This will prevent any trouble from the local police and government agencies.
7. Have Fun!
Last but certainly not least is the idea that you need to have fun and open yourself up to change. Thailand is going to be different that your native country that you were born in-you already knew that. Give in to the excitement and partake in things that would have never sparked your interest. Having this type of approach to your golden years will help you
Originally from the Southern part of Thailand, Wassana currently lives in Chiang Mai. She is an experienced writer, Thai masseuse, and a contributor to Eco Warrior Princess.