Assume i want to retire early, what is a good country to do it in besides the US (where i currently reside).
I figure by this time (this’ll be 10-15 years or so from now) that either cable or satellite phones, tv and internet will be cheap and available wherever i live. So thats not a major issue as these things (internet access and cable TV) are very important to me.
My preferences for a country are
english is a popular language
Very low cost of living
large american communities
not much instability (ie, not Haiti or Columbia)
Does anyone have any ideas? A country doesn’t need to have all 4, im just brainstorming. I have thought of southern Mexico, Thailand and India so far. Any others?
Why do I get the feeling that you don’t get out much?
I was in southern Mexico very recently. English is not popular there. In fact, in most Spanish-speaking countries, finding English speakers is surprisingly difficult. Why that is, I don’t know, but I’ve seen it first-hand. I found more English speakers in Cambodia and Egypt than I did in Mexico.
Second, regarding your desire for stability, does the word “Zapatista” ring a bell? Southern Mexico is fairly quiet at the moment, but there’s almost a palpable sense that the kettle’s on the boil again.
Language is definitely not a barrier. Although knowing colloquial Malay (which is pretty easy to pick up) will help you when in smaller towns/rural areas, generally you’re safe with English when in big cities. Many urbanites of my generation grow up speaking and thinking in English (myself included).
I wouldn’t say that the cost of living here is *very * low, but it’s low enough for decent living.
For example - renting an apartment in an area popular with expats (and thus highly-priced) would roughly cost MYR1500p/m, and probably down to half that figure if you’re not fussy about the location. For the majority of middle-class urbanites, spending MYR50 per person on a meal in restaurant would be considered splurging. You can get a cheap meal for MYR5 or less at hawker stalls! (For perspective, the exchange rate is pegged at roughly USD1 = MYR3.80.)
There are large Western expat communities here - not sure what proportion are Americans. Everyone seems to get along just fine, though
Political stability is what the present government strongly advocates. Very few dare to rock the boat!
Singapore probably offers everything you want as well, 'cept that the cost of living is higher than in Malaysia.
If you have Dollars, Euros, or Pounds to spend, you can live very cheaply.
English is spoken my almost everyone (also 17 other ‘official’ languages)
I have always found a lot of Americans and Brits.
Not too much instability, but violent crime is pretty rampant; you gotta watch yourself.
First world infrastructure (cable, cellular, internet) are all in place.
I did the math several years ago, at the age of 34, and figured I could have retired in South Africa at the age of 44. That will be this year and it isn’t going to happen, but I have always dreamed about it.
I just started looking into this and it seems that housing isn’t much cheaper in the 3rd world. I can get a house for <50k in the US, France, Spain, the UK, etc. Most houses in Latin America that im looking at are the same price. They are newer and a little larger though (with anemities like a pool) but i dont know if high crime or language barriers are worth it. Then again labor, good and services will probably be cheaper there.
Panama is becoming increasingly popular with retirees from the U.S., especially the town of Boquete in the western highlands, which has a cool and pleasant climate.
Panama isn’t dirt-cheap, but a lot of things are cheaper than in the U.S. (though some are more expensive.) The government these days is quite stable. There is a large American community, as well as relatively large numbers of Panamanians who speak English. (The province of Bocas del Toro on the Atlantic coast is mainly English-speaking.)
It appears the cost of living isn’t much lower in the 3rd world. Maybe 40%, but good budgeting skills can accomplish that kind of savings in the US.
Also, things like healthcare and education are important too when determining a country for me. I’d rather live in New Zealand with little crime, rich culture (maybe) and universal access to healthcare and education than paraguay with a slightly cheaper cost of living.
when looking for a third world country to retire in, the three most important words to remember are: “non-extradition treaty country”
…that closes many doors, though the ones it keeps open are generally of the low-cost-of-living type (which satisfies #2 on your list.)
although enclaves of americans and widespread use of english may not be the rule in these countries, that is ok - you don’t want too many people knowing how to find you anyway, or you wouldn’t be looking for a third world country to “retire” in in the first place. so what if you have to learn a new language, it won’t kill you.
and if you are looking for third world, you ain’t gonna find stability better than dprk can provide. (over half a century and still ruling… though maybe castro will still be kicking by the time you execute stage #3 of your master plan…)
I may just be mis-remembering something, but I believe NZ is one of those places that encourages immigration by people with job skills that they’re looking for, but discourages immigration by people who will simply put a burden on their health care and other social systems without contributing anything. In other words, if you want to retire there, you probably have to arrive with enough money to convince them that they’ll never spend a dime taking care of you in your old age!
Too bad about the English rule, otherwise there would be quite a few choices.
I have heard Thailand can be good - a lot of Germans go there and buy condos and seem to get along OK. Also heard good things about Turkey and some of the Baltic countries (although the weather might be a factor there).
However, correct me if I am wrong, but it seems like you just want to live high amongst the poor(er) without bothering to learn the language (or culture) and I cannot imagine that is a good formula for success. I think they call that “ugly American” in a lot of countries.
Perhaps you would be happier and more successful by trying to find a cheap place to live here in the US…remote area of Nevada or Idaho or Wyoming…some place that is not all that far from a hospital and a few stores, but far enough away that you don’t have to worry about a Starbucks being built within a 100 miles of your house.
::blinks:: Do you really think NZ qualifies as a third world country?
You haven’t got a hope of immigrating there in any case, mate. You need a desirable skill which is in demand and a fair amount of money – it used to be over $100 000, I think.
NZ’s not particularly low on the crime front either, depending on where you live. There’s no maybe about the rich culture though.
Mexico is really lovely and has many large communities of retired Americans - mini towns, if you will.
The catch is that I wouldn’t hold my breath on phone lines, cable TV and internet connections being widely available or for that matter, reliable. Even in 10-15 years. A lot could change, but just don’t count on it.
Anyway…my first thought was India…but then, discounting the ‘third world’ qualification, I thougt eastern Europe. The cost of living and housing in Croatia, for example, is much lower than western Europe, but if you buy property it’s likely to appreciate rapidly as the economies play catch-up. And they pretty much fit your other requirements, too.
I knew several people from Key West, FL that migrated to Costa Rica. You have to know where to go and how business is run down there, but once you get over those hurdles I hear it’s a wonderful place. I believe the west coast is where you want to be.
