So, retirement age is getting closer on the horizon-- about 10 years out, give or take. My wife and my retirement plans are doing so-so: we’ll have savings but probably not enough to last in the states if we live to an inconveniently old age, unless we really lower our standard of living. Also I worry about the ridiculous cost of health care as a retired old person in the U.S…
My wife has talked about moving somewhere exotic after retirement-- she’s mentioned Thailand, mainly I think because she loves Thai food, so why not go right to the source? Also, I’ve heard their health care is decent and inexpensive. Plus, awesome weather (other than the occasional tsunami).
I’ve also heard a lot of good things about Costa Rica, similar to Thailand-- inexpensive, good health care, great weather, beautiful scenery, lots of things to do and see.
I don’t know if we will actually leave our friends and family to move to an unfamiliar country, but right now, in the dead of winter, still in the grip of a pandemic, not super loving my job right now, it makes for a nice mental break to imagine it. Sort of planning a permanent vacation. Your thoughts / recommendations? Some criteria off the top of my head:
Inexpensive cost of living
Good (and inexpensive) health care
Stable government
Low crime
Not draconian laws, like 10 years for jaywalking
Warm tropical weather
Large English / US expatriate community, or at least a fair amount of friendly English speakers (though we would learn the language as much as we could)
Quality of life (things to do, history, culture, good dining, etc. Yet…not too touristy)
Costa Rica and parts of Mexico come up but the climate could be severe. Costa Rica is very humid year round.
I like Malta, never too cold or too hot. Beautiful Mediterranean climate.
English is a major language there and official language. Legacy of belonging to England or the UK for an extended period.
Has an excellent healthcare system.
Modern International Airport and ferries to Italia at least.
I think the entire Island is within a 1 hour drive.
Excellent Quality of Life.
Very stable Government.
Cost of Living is not the cheapest though, but it isn’t bad. https://www.gov.mt/en/Life%20Events/Pages/Moving%20to%20Malta/Moving-to-Malta.aspx
From what I can find, Malta is about 10% cheaper than US average and rents are 35% cheaper.
It is more pronounced for me as I would be going from one of the expensive high cost of living states. If you were coming from rural Tennessee, Malta would be pricey.
If you can handle the Humidity (I can’t) everything I’ve read points to Costa Rica as being the place. It is fairly safe and very stable government.
But Malta is safer yet and the close to Italy and Europe by flight part is valuable to me.
I think Cost of Living + Rent and Climate are the two biggest items.
Playing with this tool might help you.
and this site
Greece could be worth checking into also, but I haven’t.
One more, thinking outside the box …
Cuba? Low cost of living with good health care I’ve heard and fairly good climate. Not as humid as Costa Rica & Mexico and pretty easy to fly back to Florida at least. I haven’t looked into this at all, but saw some people considering it.
English speaking, good healthcare, beaches galore. Similar culture to USA but a couple decades behind; that may be a plus or a minus depending on your point of view.
Don’t know, I did say I didn’t look into it and it would be thinking outside the box.
I thought the US embargo was relaxed though? This one would absolutely take some research.
If you can’t tell, I’m kind of dreaming of Malta. It is the only one I really looked into other than Ireland (pricey and too damp) and Costa Rica, too humid and a lot less English speakers.
I briefly considered retiring in Greece. The big negatives there are the unstable economy and government. It also looked like there would be problems getting a residential visa and access to the healthcare system—not insurmountable problems, but they’re not exactly putting out the welcome mat for American retirees. Language can be a problem if you venture outside the big cities or tourist-oriented areas.
I definitely wouldn’t recommend Greece if you’re a non-smoker. Greeks smoke everywhere, all the time, and they’re not into “no-smoking areas” there.
But you would need to work with a Maltese Immigration Lawyer for the best way for you to establish permanent residency. (assuming you’re not a EU citizen).
Ireland has some easy ways to Immigrate if you can prove a grandparent is from Ireland or maybe even 2 Great Grandparents. But Ireland is not an inexpensive place to retire and the climate is not for everyone.
I’m going to endeavor a wee tangent and hope that I’m not OT:
Try it before you buy it.
My passion was international travel, and I generally preferred ‘emerging nations’ to ‘developed.’
And I tended to spend a month at a time in a country so that I could learn a few things and not always stand out like a sore thumb tourist.
And maybe figure out where I might like to land when the time came.
Now I watch a lot of expat videos. The one thing they stress, and with which I wholeheartedly agree, is to vacation there a lot and rent for a year before you consider making any kind of commitments.
It’s very hard to know what life in a new country will be like without dedicating a fair amount of time. Myriad reasons for this, but not least among them is that most people who put up websites and video channels are economically tied to you moving there.
Truth can be much harder to find without being on the ground, and for a good amount of time.
No, I don’t think that’s off-topic at all, and very good advice. Also, the idea of taking extended vacations in a variety of locations after retirement to ‘test the waters’ before we figure out where to land sounds great!
I love Thailand, one of my favourite destinations, have visited a dozen times, but if I was to retire somewhere ‘away‘, I’d seriously consider Cuenca, top of the list!
Chile is the country we’re “looking at” for retirement. Basically any type of climate you could want. Good healthcare and mostly stable economy and government. There isn’t a lot of English there but there are expat communities. As a plus if you do have family or friends in the US that you want to stay in contact with they are at least in the same timezone so communication is easier and there is less jet lag on flights.
No firsthand experience, but Cuenca has been high on my list of places to check out.
Real estate is of particular concern there, because Cuenca is 8,400’ above sea level and – AIUI – few of the buildings (homes, rentals) have heat. It’s also called Land of Eternal Spring – a rather euphemistic way of saying it never gets to be particularly warm:
Not necessarily a bad thing, but good to expect it, not be taken by surprise by it.
More on the ‘visit the places’ thing:
Unless you have the resources to get away during hot, cold, muddy, windy, touristy, or other times that you might not enjoy living through, be sure to experience those on-the-ground, too;
Rentals are generally cheapest by word of mouth – again – arranged on the ground once you’ve established yourself a bit. Depending on what you want, you may want to rent from locals, expecting to rent to locals, and not necessarily English-speaking.
But so much depends on what you want, what your partner wants, etc., etc.
It’s a fun process to work through, and … yeah … a fair number of extended vacations to places oft considered really desirable ?
Thailand fits a lot of these. The government is stable in the sense that the military stages a coup every decade or so, but things seem to be working mostly ok. There has lately been some protests against the royal family. The laws are not draconian as long as you don’t insult the King. It is beautiful, cheap, and warm.
