Anyone considered retiring to a country with a lower cost of living?

[3 hound]

It's been a thing for some time to pack up your finances and go somewhere where your money is worth a lot more.

There are reasons beside money that people do this I am just asking about the economic viability of say moving to Costa Rica or Thailand etc.

 

[sptrawler]

A really good mate of mine is moving to Thailand.

 

[3 hound]

A really good mate of mine is moving to Thailand.

He won't be the first or last, more and more guys I know are doing it or planning on doing it.

TBH I have started learning more about it than investing.

If I stay in Australia I am forced to learn a lot about investing just to have a modest retirement and protect myself against inflation. I would also need to keep working for years more.

OTOH I could retire tomorrow, move to Thailand and have a much better home and standard of living than I ever will here and for a fraction of the cost.

 

[SirRumpole]

Some countries don't care much about laws as long as you have money to give to the right people.

That would be an attractive proposition.

Cheap labour (maids, gardeners, cleaners, nannies etc) would also be attractive.

If you need serious health care you could always fly back to Oz.

Thailand seems popular, but what about the Solomons ?

Get in with Songavarre and you will be on a good thing.

 

[3 hound]

If you need serious health care you could always fly back to Oz.

The opposite has been happening for over a decade, people from the western countries eg UK, Australia, Europe etc are going to India and Asia to have their health needs met including major surgery and dentistry.

It's called medical tourism.

They have a better healthcare systems than ours.

The only sad part is many of their own locals can't access it.

 

[sptrawler]

He won't be the first or last, more and more guys I know are doing it or planning on doing it.

TBH I have started learning more about it than investing.

If I stay in Australia I am forced to learn a lot about investing just to have a modest retirement and protect myself against inflation. I would also need to keep working for years more.

OTOH I could retire tomorrow, move to Thailand and have a much better home and standard of living than I ever will here and for a fraction of the cost.

The issue I see is, Australia since the deregulation of the 1980's, where tariffs on imported goods from low cost countries was removed, we have moved down the industrialised index.
That is the third world countries which had cheap labour, have become more industrialised and we have become less industrialised.
I don't see this trend reversing, the multinationals make huge profits from this model and the media rely on the multinationals to pay for their lunch through advertising, so any attempt to change it will cop a huge media storm ala the miners super profits tax.
So moving on, I can't see the Thai Baht getting weaker against the Aust dollar, I think it will get stronger, therefore it wont get cheaper to live in Thailand.
But it may get harder to access the Australian pension while living there.
Only my opinion.

 

[3 hound]

The issue I see is, Australia since the deregulation of the 1980's, where tariffs on imported goods from low cost countries was removed, we have moved down the industrialised index.
That is the third world countries which had cheap labour, have become more industrialised and we have become less industrialised.
I don't see this trend reversing, the multinationals make huge profits from this model and the media rely on the multinationals to pay for their lunch through advertising, so any attempt to change it will cop a huge media storm ala the miners super profits tax.
So moving on, I can't see the Thai Baht getting weaker against the Aust dollar, I think it will get stronger, therefore it wont get cheaper to live in Thailand.
But it may get harder to access the Australian pension while living there.
Only my opinion.

It's already well underway that Thailand is not as cheap as it was but still five hundred thousand AUD from a house sale here will keep a single guy with a minimalist approach to life and no debts or dependents living very well in Thailand for a very long time.

 

[sptrawler]

It's already well underway that Thailand is not as cheap as it was but still five hundred thousand AUD from a house sale here will keep a single guy with a minimalist approach to life and no debts or dependents living very well in Thailand for a very long time.

Yes well that's great, I'm 66 and when I started work as an apprentice I was on $17 a week, a tradesman was on $50 a week, how much younger are you than me?

 

[macca]

I know one bloke and have read about others who have had a very bad experience while living in Asia.

Very easy to get caught in a honey trap and the laws are strongly in favour of the local women.

Might get a bit lonely after a few months or years and a local lady could be very appealing but Oh so expensive when things go wrong

 

[Knobby22]

If you want to save money go and live in a country town such as Japarrit.
Why go overseas?
And if you get sick, free healthcare. Healthier, cleaner and safer than a 3rd world country.

I was an expat in Indonesia for a short time and one of the guys got seriously ill, he wasn't that old.
The local Aussies put together enough money to fly him to Perth but he died on the way back.

 

[The Triangle]

I know one bloke and have read about others who have had a very bad experience while living in Asia.

Very easy to get caught in a honey trap and the laws are strongly in favour of the local women.

Might get a bit lonely after a few months or years and a local lady could be very appealing but Oh so expensive when things go wrong

If you're the kind of person to move to Thailand and get caughtup in a honey trap then you're probably the kind of person who would get scammed out of your super or savings in Australia.

White Aussie women know how to milk men for money just as well if not better than any foreign women. Laws don't protect men here either.

 

[sptrawler]

If you want to save money go and live in a country town such as Japarrit.
Why go overseas?
And if you get sick, free healthcare. Healthier, cleaner and safer than a 3rd world country.

I was an expat in Indonesia for a short time and one of the guys got seriously ill, he wasn't that old.
The local Aussies put together enough money to fly him to Perth but he died on the way back.

Being old a destitute in Thailand wouldn't be good, that's for sure. They don't have a high tolerance of western beggars.

 

[macca]

If you're the kind of person to move to Thailand and get caughtup in a honey trap then you're probably the kind of person who would get scammed out of your super or savings in Australia.

White Aussie women know how to milk men for money just as well if not better than any foreign women. Laws don't protect men here either.

Yes, a relative was married to one of them but OS the vast majority see westerners merely as a way to get money.

At least here, the majority of women (and men) are decent people and with a bit of caution a relationship can be formed for company in our old age.

 

[Jingjoh]

I moved to thailand 12 years ago to retire at the age of 42, i moved back to Australia just before covid hit, i am happy to answer questions,...my name Jingjoh is the thai word for Kangaroo!!

 

[Macquack]

A really good mate of mine is moving to Thailand.

Massaman Beef for breakfast, lunch and dinner. Sounds like heaven to me.

 

[Jingjoh]

if you want to trade in Thailand
benefits
1. Internet is faster than Australia(in Major Cities)
2. Timezone is 3 hours behind, so 7am start and finish 1pm
3. if aged over 50, easy to get a retirement visa $25000 is all you need.
4. Much cheaper to live of course.
5. if over 50., plenty of expats to play golf and do other activities with

 

[Macquack]

I moved to thailand 12 years ago to retire at the age of 42, i moved back to Australia just before covid hit, i am happy to answer questions,...my name Jingjoh is the thai word for Kangaroo!!

Why did you move back to Australia?

 

[Jingjoh]

Why did you move back to Australia?

We have 2 kids and international schooling was getting too expensive, plus the standard wasn't the best. Its a great place to live if you are single with no responsibilities.