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Retirement destinations
I know the subject of retirement is a recurring one on the board, so if you're not interested, this would be a good time to hit the back button.
Where would you prefer to retire to, given a choice? I'm officially unemployed at the moment (just approaching 62). The Irish government plan is that by the time I reach 'retirement age', that age will be 67. So another 5 years. I will have a very small private pension which will kick in when I'm 65. So even if I wanted to retire to Pattaya, and I'm by no means sure I would, I wouldn't have the required funds for a Retirement Visa (as I understand the regulations).
But there is also the family side to consider. If I lived in Pattaya, it's unlikely I'd see any of my siblings again. A niece or nephew might come out for a couple of weeks, but even if that is unlikely. And I don't like that idea.
I like the idea of retiring to Tenerife, in Spain's Canary Islands. Year round sun, low cost of living - I could rent a studio for half what I'm paying here (and I'm in a very cheap place in Dublin), cheap wine and food. It's 4 hours from Dublin, and my family regularly visit now anyway for holidays. So I wouldn't be totally isolated and "on the other side of the world".
For those of us in our 50s and 60s, this is a question we have to think about. So where would you like to retire to? And where would it actually be practical? Or maybe you'd prefer to stay in your home country?
This ain't a downer of a thread. Once my State pension kicks in, I see the world as my lobster, and have the choice of staying here in Dublin or going to Tenerife.
What say you, gentlemen? (sorry that turned out to be longer than I thought, but I'm going to leave it)
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Re: Retirement destinations
Is sex important to U???
If the reply is yes then its gotta be Thailand...only place a dirt poor geriatric is gonna get the chance to experience firm MB butt..or cock...
If its the canary islands u will probably only experience this every 2 months or so based on your limited income.
BTW...your oyster is more like a cockle...your lobster is a shrimp...
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Re: Retirement destinations
Joe - how much is the Irish state pension that you could possibly consider living overseas on it?
If it was the British pension you'd be lucky to be able to move to Moldova and live on gruel.
But wherever you go I would advise you to seek counsel from ChristianPFC - and your limited funds will let you live like a King!
He can help you save loadsamoney by e.g. taking your old used toilet roll tube into bars and swapping out their full bog roll into your backpack and saving money on new flip-flops by securing a loose toe post with bread bag closures.
http://christianpfc.blogspot.co.uk/2...collected.html
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Re: Retirement destinations
I wasn't being cruel or uncaring - just helpful!
:drink:
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Re: Retirement destinations
Quote:
Originally Posted by
scottish-guy
Joe - how much is the Irish state pension that you could possibly consider living overseas on it?
Irish State pension is 222EUR per week = 196 GBP
Taking into account the bonus week at Christmas, that averages at 980EUR per month, this equates to over 37000THB per month
I say take your 37,000 THB per month, live in a 5000B room and move to Thailand
https://sawatdeenetwork.com/v4/showt...or-500-dollars
http://gaybuttonthai.com/viewtopic.php?f=3&t=183
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Re: Retirement destinations
thanks for the link..i did follow christian's blog for a while but missed the tight ass section u so cleverly posted a link to
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Re: Retirement destinations
Well guys, I'm certainly glad that my thread is being treated with the seriousness it deserves. I'll try to address your points.
latin - I've always had a low sex drive (physical or psychological?), so sex is not that important. And even if I lived in Pattaya, and it's on tap, so to speak, it wouldn't bother me to do without. So that's not a consideration.
SG, the current State pension is 243 Euro per week. I could find a studio in Tenerife for 450 Euro per month. So affordable, I think.
I have many reasons to kill myself, but if I ever got to be as cheap as Christian, it would be immediate. (no offence, christian)
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Re: Retirement destinations
Quote:
Originally Posted by
joe552
SG, the current State pension is 243 Euro per week.
I didn't realise it was that high compared to UK pension! (and isn't it due to go up again in April?)
That averages out at 1073 EUR per month, which is 41,000 TBH per month
You would need to stop drinking your (heavily taxed) wine and change to beer or Thai whiskey (But not Lao Khao!)
This guy lives in Pattaya and has an interesting blog:
https://www.youtube.com/watch?v=X-OG-hE7VUs
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My uk old age or state pension what ever u want to call it is approx. 155 gbp or 176 euro
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Re: Retirement destinations
colms, when my mother still lived at home (2 years ago) that was her basic pension. She got other allowances, like cheaper electricity, fee TV license.
I guess I have 2 points. One is financial, and one is social/personal.
Financial first. I could live on the State pension in Pattaya (presumably doing monthly visa runs?). I'd be happy in a fairly basic 'loom'. I presume I could live here doing visa runs because I wouldn't have the money for a proper Retirement visa.
Personal: I might be exaggerating this in my own head, 'cos I don't see much of my family since my mother died. I talk to my sister twice a week, my brother every 2 weeks or so. But at least I know there only a few miles away if I need help. Where would I find that in Pattaya? That scares me. Being so far away, and not having anyone close by who'd be called if I got hit by a baht bus and ended up in hospital. And then, could I afford to be in in hospital? In Tenerife, medical care is free.
Anyway, I'd love to have someone to sit down with to talk this stuff over with. As it is, I'm just guessing.
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Re: Retirement destinations
Maybe check out https://www.internations.org/
It's a great, helpful expat community with members in most corners of the world. Definitely members in any place you'd contemplate retiring to.
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Matt, I had a look at that site, but don't see how it can answer the questions I have about my future. I've registered as a member and will explore it tomorrow; thanks for the suggestion.
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Quote:
Originally Posted by
aot871
My uk old age or state pension what ever u want to call it is approx. 155 gbp or 176 euro
So..............
UK State Pension 8094 GBP a year + 10 GBP Xmas Bonus + splendid isolation after c.2019
Irish State pension 11705 GBP a year + 190 GBP Xmas Bonus + an EU Passport till you croak
No wonder Brits are scouring their family trees desperately trying to find an Irish granny
:D
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amazing the irish pension is better than the UK one. However is that the full story??Are there any esubsidies that UK pensioners benefit from that Irish dont? As for isolation, there are several non EU european countries that sem to do just fine...Switzerland being one...and with the UK being a huge contributor to the EU budget I wonder who really needs who the most.
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Not getting into a Brexit argument thanks.
I'm a bit younger than Joe but I have no family at all - just me - so my plan is that when the time comes I completely sell up my property and business and bugger off somewhere I can be with my BF since they are determined not to let him in here.
However, I do realise that I'd want a decent standard of living and therefore I wouldn't have enough cash to live for say 30 years if I was lucky enough to last that long.
I wouldn't and couldn't be content to just sit and get pissed every day. I'd want to be able to work in some way to offset our living costs so that the lump sum isn't eaten away before I pop my clogs.
So wherever we went I'd need to be able to get a work permit. It seems far easier to work in Vietnam than Thailand but I wouldn't rule out a move to somewhere completely off the wall like Georgia (not the one in USA)
One thing I'm determined on is that no distant relative is getting a penny out of me
:D
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Re: Retirement destinations
Quote:
Originally Posted by
latintopxxx
amazing the irish pension is better than the UK one. However is that the full story??.Are there any esubsidies that UK pensioners benefit from that Irish dont
The UK National Health System has shorter queues than the Irish system, so I guess that a good benefit
Not only is our Pension better, our Dole is also far better:
The standard weekly Jobseekers Allowance rates available to an individual in Northern Ireland range from 64.21 EUR to 81.05 EUR
In the Republic of Ireland, the standard weekly rates for Jobseekers Benefit or Jobseekers Allowance range from 84.50EUR to 188 EUR
My understanding is that almost everyone over 26 qualifies for the full 188EUR rate...
And that's why we (allegedly)have hundreds of people flying over from Poland once a month to sign on for their dole!
Granted the cost of living in the Republic is far higher (Rent, Food, Electricity, Internet etc)
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Re: Retirement destinations
I love any post where one is promped to "eat gruel" in order for one's measly monthly pension to make do.
Seriously Joe, there's not a chance in hell that you could get a Retirement visa if Colmx's amount of 37,000 Thai Baht a month is correct. You'll need at least 65,000.
Secondly, the old rules regarding visa runs have completely changed. Now you are only allowed a few (can't remember how many are allowed, but it's not many). Besides that, every 90 days visa runs can get expensive as well which will significantly eat into your income.
Quote:
And then, could I afford to be in in hospital? In Tenerife, medical care is free.
Really? Free for a foreigner? Are you sure?
Not to be harsh, but it sounds like a bit of a fantasy world my be going on in your head.
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Joe u really do need to some some serious research before u up sticks, or at least try before u buy...as in move to Tenerife...rent a cheap place for 3 months and see how u like it.
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I hear The Gorbals is lovely and has the priceless advantage of Scotty being in the next tenement should you need him to do anything for you. His quips and puns and 1970s comedy references will make the long winter nights just fly by.
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...personally if I had to select it would be Brazil...all colours..shapes..and sizes...
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You really need to think twice before retiring to Thailand.
First spend 6 months here, to lose your rose tinted glasses before burning your boats.
Life here is not the bed of roses dreamed by tourists.
The visa will be a big problem. Border runs are being squeezed out.
If your pension would be enough to start with, inflation will eat it away.
And if you meet a tough period, do you have enough to meet extra bills ?
Go and visit state hospitals to see what you can expect. It's a far cry from the sleek private ones.
Thailand is not kind to penniless expats.
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What a thread! As many correct responses as there are responders. Each of us has different needs and different financial, physical and psychological factors to consider. I’ll offer my thoughts based on hindsight and a life-long string of ill considered decisions.
Would I choose to retire in SE Asia if I would not or could not make sex a primary factor in my life? No thanks. I moved to Thailand/Vietnam solely to have access to young Asian sex partners. My business income supported that decision. If I had been on a more limited budget, I might have made decisions based on an enhanced clarity of thought rather than just libido.
My lungs are not going to support trans-Pacific flights or living on my own in the US, especially not in the sub-freezing temperatures in locations near my sisters. So I will remain here with varying degrees of dislike or discomfort regarding the climate and local society.
If my health permitted, I would move to a country where I would not need to make regular trips to the pharmacy to buy anti-fungal creams, to a country where I would not need air-conditioning to breathe comfortably, to a country where I would feel comfortable with the culture and world view of the local population. Maybe some place like the Republic of Ireland !
Trying to live in SE Asia on the State pensions quoted in this thread would , it seems to me, require the adherence to some of the teachings of Economeister Christian. But who wants to spend their last ten or twenty years worrying about the cost of running an air conditioner, or health care, or the cost of drinks or cigarettes or occasional sex? Tenerife sounds like a much better choice, assuming the EU free medical care system is still in place there. And it is much closer to Ireland.
This may be irrelevant, but I am reminded of The Lotus Eater by Somerset Maugham, about the retiree who went to live on Capri, having calculated that he had enough savings to last him x number of years and after that, if he were still alive… OK, your pension rights are not going to terminate before you die, but trying to exist on an income level that would limit your enjoyment of the offerings of your chosen retirement locality does not sound attractive.
Proximity to family: There is no substitute for that. I would dearly love to join my sisters for their annual summer reunions and Thanksgiving dinners. But to be honest, for me the attraction of these gatherings begins to wane after a few days and I’m sure it’s the same for them as they need to address the concerns of their daily lives. And I think that if I did live near them, they would feel obliged to provide assistance that I might need when in fact they are also in the over-70 age bracket. Thus, it would create a burden for them.
As Smiles says, forget about the visa runs. Limit now is 2 land border crossings per year ? Maybe different regs for international flights ?
Joe, can you envision your daily life in Pattaya as a long term resident? Try to evoke those images several times a day, or as you’re trying to get to sleep at night. And do the same for Tenerife.
If I had it to do all over again, I would try to be only a moderate smoker and drinker, I would try to be more realistic about just how easily I could or could not enjoy life outside of my own country and culture, I would try to make more reasonable, rational decisions about living alone or with a partner. But as I said, it’s all hindsight. I might have been chronically miserable if I had not lived my life as I did.
My retirement recommendation for you Joe would be some place like Tenerife or, with very little effort, a continued residence in Dublin 7, ROI.
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SG - Current Vietnam labor law is aimed at not allowing any foreigners to work at jobs that can be done by Vietnamese, so 2 year work permissions are given only to foreign experts, managers, company directors, etc.
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Re: Retirement destinations
bobsaigon...I dont have to even leave the city I live in..let alone the country to have access to cheap young guys...there are 2 universities and multiple english language institutes... and a flood of asians and south american students..most on limited budgets..I have a spare bedroom and a business (I dont actually work there., its managed) that employs casual part time labour...I place an add on Craigslist titled " sugar daddy looking for houseboy..free board & lodging" and I'll have 20 hits by the end of the day....sometimes I wonder if Im completely mad going to all the trouble of travelling to thailand when I have young supple bodies on tap...
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Re: Retirement destinations
If you are a little short on funds it's probably best to either just stay home or stay close to home.
If you go and live in Thailand on a limited budget, you'll be in deep trouble should you ever get sick.
And how would you be able to afford to travel back home to meet the family every now and then? You'd probably find yourself stuck in Thailand with no means of escape. You may never get to see them again.
One of the best things about visiting a poor country, as opposed to moving there permanently, is that you can leave at any time.
Stick to Tenerife. At least Ireland is within swimming distance if you need to return home!
Great topic, btw.
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Re: Retirement destinations
Quote:
Originally Posted by
Smiles
I love any post where one is promped to "eat gruel" in order for one's measly monthly pension to make do.
Really? Free for a foreigner? Are you sure?
As alluded by Bobsaigon earlier, there is a cross EU health scheme which entitles EU citizens to public healthcare when in another EU country:
http://www.hse.ie/eng/services/list/1/schemes/EHIC/
Not sure if it extends to expats... Although I guess with no visas required.... You could always claim you are on a long holiday!
Although not sure if I would trust Spanish health services, hear way to many stories of holidaying Irish having to get a crooked limb broken and reset after being "set" in Spain!
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I retired many years ago and at that time my plan was to move permanently to Thailand and bought a condo. However after some time I realised that was not for me and now I split my time about 50/50 between Thailand and UK. I spend most of the UK winter months in Thailand and if I get bored in the UK I book a flight and have another break in Thailand. I am fortunate that I don't have to rely on State Pension as my main source of income is a more than adequate Company pension.
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Colmx ... that might work for the original retirement visa (i.e. the 'O-A' visa outside Thailand or the 'O' 12 month visa from within Thailand) but what about Extensions thereafter? The Extension(s) will still need proof of income each year, and Joe simply ain't got it.
Not trying to be negative, but that's the reality.
Oops ... what happened to Colmx's visa ideas? Apparently I replied to a ghost!
PS but ... thanks Comx regarding the EU standards regarding universal health care within EU. I was not aware of that.
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Re: Retirement destinations
Quote:
Originally Posted by
bobsaigon2
..SG - Current Vietnam labor law is aimed at not allowing any foreigners to work at jobs that can be done by Vietnamese, so 2 year work permissions are given only to foreign experts, managers, company directors, etc.
Yes Bob but I'm all of the above - as you'd expect!!! :dirol_mini:
My understanding is that you can work for a reasonable period of time (I think several months) without any permit - provided you have the appropriate Visa. That way you can get a taste for whether it's for you or not.
My BF's aunt who speaks fluent English owns 2 hotels, a music venue, a restaurant, and a Spa - all employing many, many people - so she's one savvy woman and has offered to guide me through the processes of obtaining both a Residency Visa and a Work Permit. I'm confident I could live and work there if I decided to.
I am not at all confident that I could live and work legally in Thailand without being ripped off by unscrupulous lawyers amongst others.
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If Joe were to save 1,000,000 THB over the next five years, he might be able to arrange a retirement visa in Thailand, BUT if his budget is limited, what happens, as a447 points out, if he needs expensive or extensive medical care in Thailand and cannot physically make the trip back to Ireland to be treated by the NHS?
Expat medical insurance for people over 60? Not cheap and probably not affordable for anyone on a limited budget.
At my age and with pre-existing medical conditions, I cannot get any type of health insurance. I can afford the out of pocket costs here in Vietnam but if I had prolonged issues of great complexity, I would have to go back to Medicare in the US. The only way I could make the trip would be by medivac, at a cost of 25 - 50K USD.
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I cannot offer any words of advice to Bob and can only express my sadness that things have turned out like this.
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On the other hand, I am probably better off here in Vietnam at this time. I have someone who cares for me and about me, I don't have to brave the winter in North America, the doctors' visits and medications are within my budget. This is not where I expected to wind up, but were I here alone and in poor shape financially, then it would definitely be a sad situation.
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Bob: In Vietnam, 2 year work permissions are given only to foreign experts, managers, company directors.
SG: Yes Bob but I'm all of the above - as you'd expect!!!
Bob: Of course SG, I just wanted to give you a chance to confirm that. :))
Indeed, it sounds like you would be able to receive the proper guidance in working and living in Saigon. My only advice would be to try to do both in District 7.
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Guys, you've really come up trumps with the advice. It's given me a lot to think about, and I'm sure there are others who will learn from it. I had already ruled out Pattaya as a retirement destination, for all the reasons given here, and was using it to compare with Tenerife, which is my preferred option.
colmx, the Jobseeker's Allowance is €193 now, and may go up again in the Budget next week. The State pension will almost certainly rise.
My sister is 2 years older than me, so I will be able to learn from her experience when the time comes.
Thanks again for all the helpful insights.
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Re: Retirement destinations
Quote:
Originally Posted by
Oliver
I cannot offer any words of advice to Bob and can only express my sadness that things have turned out like this.
Thank you for your kind words, Oliver. While I am not looking forward to the next few years, at least my partner of 17 years is beside me, through think or thin. Could be worse.
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Joe, have you ever considered that you may be debating tourist locations a little too much? I've been to Tenerife before, and that's about as touristy as it gets in this world. Same goes for places like Pattaya.
For example, if you get together with your friend, maybe ask him to take you up to Sisaket, so you can check it out for a few days. Off such a limited budget, you'd probably be far more comfortable in somewhere like Issan.
Just a thought...
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It's an interesting question Matt. But if I'd feel lonely in Pattaya, how isolated would I feel in Sisaket?
Anyway, the visa issues are the big problem, plus the distance from family. Thailand is not an option for me.
If I were to move to Tenerife, I wouldn't live in a tourist area, but maybe in a small town/village away from the coast. A half hour bus ride from the tourist spots takes you into some lovely places.
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Quote:
Originally Posted by
scottish-guy
No wonder Brits are scouring their family trees desperately trying to find an Irish granny
If only having a dual citizenship and passport provided a double pension but alas I doubt that is the case - if so someone please advise and forward me the forms to sign up immediately !!
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Re: Retirement destinations
Quote:
Originally Posted by
Smiles
Oops ... what happened to Colmx's visa ideas? Apparently I replied to a ghost!
PS but ... thanks Comx regarding the EU standards regarding universal health care within EU. I was not aware of that.
I think I must have accidentally deleted my post, whilst trying to edit a typo on my phone (lesson learned: leave the typos!)
Anyway no point in rewriting... seeing as Pattaya is already ruled out!
As for the EU "universal healthcare" not quite sure if it stretches so far as medical tourism... but it certainly covers accidents and emergencies
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As far as I understand it, if I apply for "Residencia" in Tenerife (kinda like Permanent Resident) it gives access to all the services enjoyed by a citizen of Spain. I could be wrong, but I think that's how it works. I think colmx is right - accidents and emergencies are covered, but nothing else.
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Re: Retirement destinations
Quote:
Originally Posted by
joe552
Where would you prefer to retire to, given a choice? I'm officially unemployed at the moment (just approaching 62). The Irish government plan is that by the time I reach 'retirement age', that age will be 67.
But what are you going to do between now and then? Five years is a long time. My grandma is in her early 70s and works five days a week as a tea lady at a coffee shop. She's happy to be working and interacting with people, and to have some extra pocket money on the side. She says she'll go crazy if she stays at home watching TV all day.