Thursday, May 29, 2014

Have We Missed the Window of Opportunity for Retiring Abroad?




There are a lot of us, we Americans/Europeans who thought with our hearts instead of our wallets. It was a time of plenty, but many of us missed out on the American and European dream. Others did it right, but had it all snatched away during the great real estate bubble scam that started early this century. Yes, they sucked it all away from us and left us with small retirements and few possibilities of cashing in on anything from the West.

To be poor in the US makes life as hard as a Nepali’s, or at least that’s how it feels. To be poor where everyone walks is a lot easier than being poor in a society where we see the affluence of others all around us.

But to be rich in a land where others are walking, now that’s luxury. That makes all the difference. I know because I was the former until I moved to Nepal. Now I’m the latter. Yes, moving to Nepal was the smartest thing I’ve done thus far.

As I was researching what’s available in the ‘retire abroad’ subject and saw this:

P.S. This is a great-value deal. Get your copy of A Retirement ‘Loophole’ for the Rest of Us: The Getaway Nation Where You Can ‘Live Rich’ on $1,700 a Month today –

That’s more than twice what a person can live on in Nepal, especially the way I want you to do it; staying with me.

Surprisingly, I didn’t find much. The information below is from a 2013 article.

In the Philippines, your dollar stretches (and stretches and stretches), and most expats live comfortably on $800 to $1,200 per month. This will fund a lot of luxuries, such as household help. In the provinces, the monthly salary for live-in maids is around $65. In a coastal town on Negros Island a haircut can cost as little as 77 cents.

In many places the monthly rent for two-bedroom apartments and bungalows is $200 to $300. Private health care is inexpensive and the Philippines is a popular destination for medical tourism.


Thailand has a lot of living options. Some foreign retirees choose to live in the hubbub atmosphere of Bangkok. Some live in the north, where life is quiet, peaceful, and very inexpensive. Others choose the south for its beautiful beaches.


A one-bedroom condo in a modern building with all the expected amenities (plus some) will run $300 to $600 per month in many parts of the country. An “over-the-top,” luxury two-bedroom condo, with great views and 1,200 to 1,500 square feet, will rent for $1,000 to $1,200 per month.


A luxurious lifestyle for a couple is possible on $1,800 a month depending on your location, but you can do it cheaper.


Malaysia comes in third position in the Cost of Living category…and also comes in third position overall in the Index. A former British colony, Malaysia conjures up all the mysteries of Asia.


Rent can be as little as $500 a month and entertainment as low as $100. You can have a comfortable lifestyle here including a maid service four times a week for $1,137 a month.


From the AARP site: Ecuador is the overall winner, with the lowest cost of living and real estate, reports the 2012 Global Retirement Index. The South American country places second (after Panama) in “special benefits” programs for retirees. Panama offers the pensionado, which provides foreigners with 30 percent discounts on public transportation within the country; tickets for cultural and sporting events, including movies; and 25 percent off restaurant bills. And in Ecuador, folks older than 65 pay lower income tax and get free domestic landline phone service.


Bottom line, says the magazine that has been tracking retirement abroad for 30 years: A budget-watching couple could live well on $800 a month in Ecuador and be pressed to spend more than $1,500 monthly.


http://internationalliving.com/2013/10/the-top-three-best-places-to-retire-overseas-for-a-low-cost-of-living/


http://www.shelteroffshore.com/index.php/living/more/alternatives-to-europe-affordable-retirement-abroad-10883


http://www.aarp.org/money/budgeting-saving/info-04-2012/affordable-retirement-abroad-ask-sid.html


Here is a list of what rent costs in various countries: http://money.usnews.com/money/blogs/on-retirement/2013/12/31/the-worlds-8-best-places-to-retire-in-2014


Then I saw another ad promising to show you how to live on $55 a day. I’d be broke in slightly over a week. You can actually retire in style in Nepal for about $17 a day.


So, it seems the door to living abroad on a shoestring has past many of us Baby-Boomers by. At least that’s what we are being told. Don’t believe it. I believe Nepal is a great place to retire, and will be continuing to write about the reasons I believe this to be true.



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1 comment:

  1. Grateful Greetings Amanda:
    Have bought your ebook and after going through it I have many questions (esp. as we are preparing to come to Nepal in 5 weeks). Your many blog posts have inspired us and we have decided to live abroad:) Have sent you a PM to your MADAGASCAR NOW address and given you my personal email address. I will gratefully await your reply to my PM before going in the next few days to get our Visa's for Nepal. Thank you in advance. With Sincere Gratitude. CHIPMK from the Expat-Blog.com

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