Is retiring oversees actually cheaper for a similar standard of living? (retired, gift)
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I have spent the last few months investigating the costs of Thailand and the Philippines as a retirement location. There are literally HUNDREDS of ex-pats who have video blogs on YouTube. Some even go through their month expenses ad nauseum.
Yes, you can live in certain locations in those countries for under $2,000. However, is the lifestyle equivalent to the US? Not really. Most Americans drive cars as opposed to scooters. The thought of being 65 or 70 years and riding scooters through the streets of Manila is not an exercise that I would entertain. Also, the health care available in the 2nd tier cities in the Philippines does not meet minimal standards in the US.
I am NOT saying that it is not possible. I have reviewed dozens of ex-pat books over the year extolling the virtues of one country or another as a retirement locale. Each of them has a story of how they do it. However, I do not think that most of their lifestyles would be acceptable or comparable to most American retirees.
I have spent the last few months investigating the costs of Thailand and the Philippines as a retirement location. There are literally HUNDREDS of ex-pats who have video blogs on YouTube. Some even go through their month expenses ad nauseum.
Yes, you can live in certain locations in those countries for under $2,000. However, is the lifestyle equivalent to the US? Not really. Most Americans drive cars as opposed to scooters. The thought of being 65 or 70 years and riding scooters through the streets of Manila is not an exercise that I would entertain. Also, the health care available in the 2nd tier cities in the Philippines does not meet minimal standards in the US.
I am NOT saying that it is not possible. I have reviewed dozens of ex-pat books over the year extolling the virtues of one country or another as a retirement locale. Each of them has a story of how they do it. However, I do not think that most of their lifestyles would be acceptable or comparable to most American retirees.
Choosing a country to retire to based primarily on the COL seems like a mistake to me. There are many cultural differences between, for example, Spain and Thailand. It would be smart to figure out which one is culturally more suitable for you before moving.
I would look to rural US. Somewhere warm and rural, a place you can have a garden and some chickens. A private well. Wood and propane/electric heat. Close to a town with a Walmart and some good discount grocery stores. Maybe get to know a few people and pickup up job at a small store or something if you need it. Take a close look at taxes, i figure income tax isnt going to be your primary concern with your income being trimmed so much. Download some tax forms from the perspective state and get a rough idea of your taxes to make sure. Checking rental prices might be difficult without being there but you should be able to get a good idea from the local sunday paper online.
States I would look at
Texas, Oklahoma, Kansas, Missouri, Montana, Wyoming, New Mexico, Colorado, Utah etc. Not all those are warm of course. I would probably start in south east texas, coastal areas and work my way up. A lot of nice small towns that you can get by comfortably in on 2000 a month (assuming you arent paying debts).
I am SO glad to read some unbiased info on retiring overseas here. The usual internet crap is all wine, flowers and carefree living, never mentioning the technicalities or Real costs. This is GREAT stuff! DW would never retire in Asia, central or South America. Europe is possible, but even the. Only for a few years, tops.
DW would never retire in Asia, central or South America. Europe is possible, but even the. Only for a few years, tops.
That's exactly how I feel. More likely is just stay there a few months a year. Depending on visas and world geo-political situation....10 YEARS from now, so who even knows.
I have spent the last few months investigating the costs of Thailand and the Philippines as a retirement location. There are literally HUNDREDS of ex-pats who have video blogs on YouTube. Some even go through their month expenses ad nauseum.
Yes, you can live in certain locations in those countries for under $2,000. However, is the lifestyle equivalent to the US? Not really. Most Americans drive cars as opposed to scooters. The thought of being 65 or 70 years and riding scooters through the streets of Manila is not an exercise that I would entertain. Also, the health care available in the 2nd tier cities in the Philippines does not meet minimal standards in the US.
I am NOT saying that it is not possible. I have reviewed dozens of ex-pat books over the year extolling the virtues of one country or another as a retirement locale. Each of them has a story of how they do it. However, I do not think that most of their lifestyles would be acceptable or comparable to most American retirees.
I know a lot of people that have retired in Thailand particularly but most are under 65 so they don't have access to Medicare. A couple of guys that I'm friends with live very inexpensively, get around on scooters, and live much like the locals except for some things....and I know I wouldn't want to live like that. Those guys would have to work to survive in the USA but have enough to get buy in Thailand.
A couple more of my friends have an excellent income and are retired comfortably in Thailand and for them, they can live a higher lifestyle in some ways than you could in the USA for the same spending, with some sacrifices.
If you were in Bangkok, you can use the skytrain and taxis and not have to use a scooter or car and get by. So there are options but of course, Bangkok is not a lot cheaper than some US cities.
I would look to rural US. Somewhere warm and rural, a place you can have a garden and some chickens. A private well. Wood and propane/electric heat. Close to a town with a Walmart and some good discount grocery stores. Maybe get to know a few people and pickup up job at a small store or something if you need it. Take a close look at taxes, i figure income tax isnt going to be your primary concern with your income being trimmed so much. Download some tax forms from the perspective state and get a rough idea of your taxes to make sure. Checking rental prices might be difficult without being there but you should be able to get a good idea from the local sunday paper online.
States I would look at
Texas, Oklahoma, Kansas, Missouri, Montana, Wyoming, New Mexico, Colorado, Utah etc. Not all those are warm of course. I would probably start in south east texas, coastal areas and work my way up. A lot of nice small towns that you can get by comfortably in on 2000 a month (assuming you arent paying debts).
Some good advice here. I would also add Alabama, Mississippi, and Georgia.
However, stay away from anything within 50 miles of the Gulf Coast. Hurricanes are nasty.
I live comfortably in the upper Midwest for around 2k a month. actually, so far this year it is$1700 a month, which includes pro rated property taxes, health insurance and meds, I would personally rather live here than overseas.
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