A retiree contacted us through the blog asking in which country he could retire with his pension of 750 euros and spend his last years without hardship. He did it following a post on prices in Bali and, although it is an easy place to acclimatize, due to the tourist impact, prices are no longer what they were and I was not convinced by that possibility.
Definitely, choose a new country to retire It is a fundamental decision and probably one of the last important ones we are going to make. If we choose the experience well it can be an easy, fast and pleasant operation. On the other hand, if we make a rash decision, it can lead us to spend a lot of time and money. In short, we must investigate well and move only when we have things clear.
Through twitter I launched the question about what would be the best country to retire and among the participants an interesting list of cheap countries where to retire. Among them Thailand, Indonesia, the Philippines, the Mauritius, Mexico, Vietnam, Morocco, Malaysia, Guatemala and even the coasts of Angola and Mozambique.
Sunset in Agonda, Goa
First of all, the criteria that we must take into account when looking for a new home to retire, according to my point of view, should be the following:
- Find a country cheaper from which you charge your pension.
- Accessibility: Find a place that is not too far from a respectable city with hospitals and services. If we add an international airport or at least one with a domestic connection to an international hub, even better.
- Possibility to continue working even part-time to help your economy. It is possible that your job skills help you find a job or you can even teach Spanish or English at a conversational level.
- Permissions: Check if you can get a visa to live indefinitely and you have the right to purchase housing. Also, in some countries minimum pension income is required in the country of origin and a bank deposit.
- Climatology: Before getting fully into a suffocating or cold country, make sure your health and your body can withstand it.
- Before applying for residence permits make sure you housing prices. It is recommended that you do this type of paperwork directly in the country since remotely the prices can increase considerably and then you can take an unpleasant surprise.
Retire in Asia
Asia it is probably the continent that generally includes the questions we ask ourselves before choosing the destination to retire. Prices are cheap, society is respectful and hospitable, security is generally good, nature and landscapes are phenomenal and the food is delicious.
Following the responses that have emerged through twitter I will be ready to comment on those I know and focus on the Asian continent. However, I am sure that the coasts of Angola or Mozambique or nearby Morocco can be very valid and, in some cases, much less crowded options.
Perenthian Islands, Malaysia
Retire in Malaysia
Malaysia is a beautiful country and less tourist-developed than its Thai or Balinese neighbors. The weather is hot and enjoys phenomenal islands and beaches. It is a Muslim country although there are many Chinese of origin and expatriates that mix the psyche of the country making it more cosmopolitan and open abroad. Cities like Kuala Lumpur offer an excellent connection of international flights as well as good hospitals. If we add modern Singapore a few kilometers away we will have a good combination of modernity and rural life. Places like Penang or the Perhentian Islands can be ideal with connection to modern cities with all the necessary facilities within a day or two of travel depending on the transport we choose.
Taking a look at various experiences of retirees in the country, I see that the best places to buy or rent a house are on the north coast between Batu Ferringhi beach and the Eastern and Oriental hotel in George town.
Budget to travel to Malaysia
There is a Malaysian government program called Malaysa My Second Home that promotes and provides information to those interested in retiring in the country.
Retire in Thailand
The country is beautiful, the people are hospitable and very open - sometimes too much - the beaches are dreamy and the prices are very cheap. Thailand seems to encompass everything we look for in a country to spend the rest of our days, however there is a drawback:
The country requires any retiree over 50 who wishes to settle in the country a minimum monthly pension of about 65,000 baths in their home country and a fixed deposit amount in the bank of 800,000 baths.
You will find more information about the requirements to retire in Thailand on the official embassy website.