Two years ago, I was a mid‑level software engineer living in Austin, Texas, paying $2,200 in rent and spending 10 hours a week commuting. Today, I live in Chiang Mai, Thailand, earn $120,000 a year as a senior full‑stack developer for a fully remote US startup, and save over 70% of my income. This is my real, unfiltered case study — including the job search that got me here, exactly how much I spend, how I handle taxes using the Foreign Earned Income Exclusion, and the hidden costs and trade‑offs you won’t see on Instagram.
Essential Reading Before You Go Remote
- How I Landed a $120K Remote Job From the US (While Living in Austin)
- Salary Negotiation: How I Got the $120K Number
- Income Breakdown: Base + Equity + Perks
- Monthly Expenses in Chiang Mai, Thailand (Real Numbers)
- Tax Strategy: FEIE, Social Security, and State Taxes
- Home Office & Internet: What You Actually Need
- The Hidden Trade-offs of Earning a US Salary From Asia
- How Much I Save & Where the Money Goes
- Frequently Asked Questions
1. How I Landed a $120K Remote Job From the US (While Living in Austin)
Before the move, I was earning $88,000 as a full‑stack developer at a mid‑sized SaaS company in Austin. I knew I wanted to go fully remote and eventually relocate abroad. The process took about four months. Here’s what worked:
- I targeted “remote-first” companies only. I used boards like We Work Remotely, Himalayas, and Otta — not LinkedIn. These platforms list companies that already have distributed teams and async cultures.
- I built a remote‑specific portfolio. Instead of just listing my GitHub, I added a Loom video walking through my async communication style and how I document my work. The hiring manager at my current company said that video was the reason I got an interview.
- I applied to 47 jobs over 14 weeks. Response rate: ~21% (10 first interviews). Final offers: 3. I chose a 25‑person B2B SaaS startup that was fully remote from day one.
Key takeaway
Don’t apply to “remote‑friendly” companies — apply to remote‑first companies. The difference is that remote‑first companies have built their entire culture around async work, documentation, and output‑based evaluation. They won’t suddenly mandate RTO (return to office).
2. Salary Negotiation: How I Got the $120K Number
The initial offer was $105,000. I negotiated to $120,000 using three data points:
- Remote salary benchmarks: I used remote salary data for senior developers from the same industry (SaaS, Series A). The 75th percentile was $125k.
- My specific stack: React + Node + AWS. Niche demand meant I had leverage.
- Geographic arbitrage argument: I didn’t tell them I planned to move to Thailand. Instead, I said I’d be working from a lower cost‑of‑living area in the US (which was true at the time). That helped them avoid location‑based pay cuts.
We landed on $120,000 base + $15,000 equity (options) + $2,000 home office stipend. Read more in our remote salary negotiation guide for the exact scripts I used.
3. Income Breakdown: Base + Equity + Perks
💰 Annual Compensation (2026)
| Component | Amount |
|---|---|
| Base salary | $120,000 |
| Equity (options, 4‑year vest) | $15,000/year estimated value |
| Home office stipend | $2,000 (one‑time) |
| Monthly internet reimbursement | $50 |
| Total first‑year cash | $120,000 + $600 = $120,600 |
I also get unlimited PTO (I take about 4 weeks/year), a $500 annual learning budget, and access to a co‑working stipend (though I rarely use it — I work from home).
4. Monthly Expenses in Chiang Mai, Thailand (Real Numbers)
I moved to Chiang Mai in January 2026. Below is my actual average monthly spending (in USD). All figures are based on 3 months of tracking.
🏠 Monthly Cost of Living – Chiang Mai, Thailand (2026)
| Category | Cost (USD) | Notes |
|---|---|---|
| Rent (1‑bedroom modern condo) | $450 | Fully furnished, pool, gym, high‑speed fiber included |
| Utilities (electricity, water) | $60 | Air conditioning is the main cost |
| Mobile & home internet | $25 | 1 Gbps fiber, unlimited 5G mobile plan |
| Food (groceries + eating out) | $300 | Mix of local Thai food and Western groceries |
| Health insurance (international) | $180 | Comprehensive plan with evacuation coverage |
| Coworking / coffee shops | $100 | Optional, mostly for social contact |
| Transport (Grab, scooters) | $80 | No car |
| Entertainment & travel | $400 | Weekend trips, visa runs, nightlife |
| Visa expenses (averaged) | $100 | Elite visa or education visa amortized |
| Miscellaneous | $105 | Laundry, toiletries, apps |
| Total monthly expenses | $1,800 |
For a deeper breakdown of living costs across Asia, see our best countries for remote workers guide.
5. Tax Strategy: FEIE, Social Security, and State Taxes
As a US citizen living abroad, I still have to file US federal taxes. But I qualify for the Foreign Earned Income Exclusion (FEIE) — for 2026, that’s up to ~$120,000 of excluded income if you meet the physical presence test (330 days outside the US).
My tax situation in 2026
Because my base salary is $120,000, I exclude the entire amount under FEIE. That means my federal income tax liability is $0. I still pay self‑employment tax (15.3%) on any 1099 income, but I’m a W‑2 employee, so my employer withholds Social Security and Medicare (7.65% each). I also no longer pay Texas state income tax (Texas has none) — but even if I moved from a state with income tax, I could claim non‑resident status after establishing bona fide residence abroad.
Important caveats: The FEIE does not exclude self‑employment tax if you’re a contractor. It also doesn’t exclude investment income or rental income. And you still have to file Form 2555. For a full walkthrough, read our remote work taxes guide and working remotely from another country for a US employer.
6. Home Office & Internet: What You Actually Need
I work from my condo in Nimman (Chiang Mai’s digital nomad hub). My setup is deliberately simple:
- Laptop: M3 MacBook Pro (provided by employer).
- Monitor: 27” 4K USB‑C (bought with stipend).
- Chair: Ergonomic mesh chair (bought locally for $180).
- Internet: 1 Gbps fiber from 3BB (~$22/month). I also have a backup 5G hotspot on AIS (~$10/month).
- UPS/battery backup: Essential in Thailand due to occasional power flickers. ($120).
See our complete home office setup guide for budget tiers and equipment recommendations.
Internet reliability tip
Never rely on just one connection. I pay for fiber at home and keep a 5G mobile hotspot with a different carrier. In 6 months, I’ve had zero work‑interrupting outages. Also, test your VPN speeds before committing to a condo — some buildings throttle international bandwidth.
7. The Hidden Trade‑offs of Earning a US Salary From Asia
Living in Thailand on a US salary is financially incredible, but it’s not all Instagram sunsets. Here are the real downsides:
- Time zone overlap: Thailand is 11–14 hours ahead of US time zones. My core working hours are 8 PM to midnight (Thailand time) to overlap with the US East Coast. That means I work late nights, and my social life has shifted to mornings and afternoons.
- Visa complexity: I’m on a 5‑year Thailand Elite visa ($18,000 upfront). That’s expensive. Many digital nomads use education visas or tourist visa runs, but those have become riskier. Read our remote work visas guide for alternatives.
- Healthcare quality: Thailand has excellent private hospitals (Bangkok Hospital, Chiang Mai Ram), but you must have international health insurance. My plan costs $180/month and covers evacuation back to the US. Without insurance, a serious illness could wipe out savings.
- Isolation: Even in a nomad hub, loneliness is real. I’ve had to be intentional about coworking spaces, hobby groups, and regular video calls with friends back home.
Weigh the data on career growth, mental health, and financial outcomes. For me, the 72% savings rate outweighs the downsides — but everyone’s situation is different.
8. How Much I Save & Where the Money Goes
After expenses and taxes, my net monthly income is about $9,200. My monthly spend is $1,800. That leaves $7,400 saved per month — an annual savings rate of roughly 72% of after‑tax income.
📈 Monthly cash flow
| Item | Amount |
|---|---|
| Gross monthly salary | $10,000 |
| Federal income tax (after FEIE) | $0 |
| Social Security + Medicare (employer withheld) | ~$765 |
| Net monthly take‑home | ~$9,235 |
| Monthly expenses | $1,800 |
| Monthly savings | $7,435 |
Where does the savings go?
- 50% into low‑cost index funds (VTI, VXUS).
- 30% into high‑yield savings (emergency fund + future house down payment).
- 20% into a Roth IRA (via backdoor, since I’m under the FEIE limit).
If I maintain this for 5 years, I’ll have over $500,000 invested — enough for early retirement or a massive career cushion. For more strategies, read our passive income for remote workers guide.