Expat living in RETIREMENT as a retirement option?

[Gold60]

HI All,

I have retired.

I am looking at MAYBE retiring to Ireland (as an Irish dual citizen), the UK, Europe, or Malaysia.

If I stayed in AU I wouldn’t be working and wouldn't be paying any tax again ever - so I would expect the same would be the case over "there" - wherever there winds up being.

My main interest, from a planning POV is the tax (for a non-working retired person), health, retirement, systems rules, etc....

I am not well off - my income is well south of $35K in AU super dollars.

Any advice anyone would like to share please? Anyone ever retired to one of these places - with I almost forgot to add, some ongoing, permanent health issues?


TIA

 

[MEL_Traveller]

We were having a chat about this the other day at home. The biggest issue seemed to be health care. Free health care - which you should be entitled to as a citizen(?) - is fine for an emergency, but how does it stack up for long-term issues or things like a hip replacement (could have long waiting lists). Friends in the UK relying on the NHS are not happy. The benefits of life-long private health in Australia - if you have it - bring some level comfort that you can get good care, with choice of doctor.

 

[Gold60]

BINGO Mel_Traveller. Health issues are my BIGGEST concern.

i have a very good Top Hospital and Medium level cover extras policy with BUPA that seems to suit my needs perfectly ATM. i would need to get something at least the equivalent before even considering a move anywhere.

We were having a chat about this the other day at home. The biggest issue seemed to be health care. Free health care - which you should be entitled to as a citizen(?) - is fine for an emergency, but how does it stack up for long-term issues or things like a hip replacement (could have long waiting lists). Friends in the UK relying on the NHS are not happy. The benefits of life-long private health in Australia - if you have it - bring some level comfort that you can get good care, with choice of doctor.

 

[marki]

We were having a chat about this the other day at home. The biggest issue seemed to be health care. Free health care - which you should be entitled to as a citizen(?) - is fine for an emergency, but how does it stack up for long-term issues or things like a hip replacement (could have long waiting lists). Friends in the UK relying on the NHS are not happy. The benefits of life-long private health in Australia - if you have it - bring some level comfort that you can get good care, with choice of doctor.

Mel_Traveller I am not sure about choice of doctor in Australia but generally is good care. Working in RuraL AREAS ( ALMOST EXCLUSIVELY) I find the care can be even better than what is delivered in the bigger City hospitals.

But Gold60 think about Bali, Thailand as an option where it may be cheap living expenses and treated like a king. Healthcare may need to be in Australia which is a small flight away.

 

[RB]

HI All,

I have retired.

I am looking at MAYBE retiring to Ireland (as an Irish dual citizen), the UK, Europe, or Malaysia.

If I stayed in AU I wouldn’t be working and wouldn't be paying any tax again ever - so I would expect the same would be the case over "there" - wherever there winds up being.

My main interest, from a planning POV is the tax (for a non-working retired person), health, retirement, systems rules, etc....

I am not well off - my income is well south of $35K in AU super dollars.

Any advice anyone would like to share please? Anyone ever retired to one of these places - with I almost forgot to add, some ongoing, permanent health issues?


TIA

I have come across this site when doing some holiday research. They were pushing Malaysia as a retirement destination. I think you can do plenty of reaading without buying their reports/books I have come across this site when I was doing holiday research. I think they were pushing Malaysia as a retirement destination. I wouldn't be buying their books but there is plenty of free info there International Living Australia Edition - Live, Retire and Invest Overseas

 

[drron]

RB they push anywhere depending on what is in their next book.but there is a lot of free info.
Be careful with any Asian country as they have realised the potential of retirees.Thailand now requires a hefty deposit into a Thai bank if you are going to retire there.Otherwise you have to keep extending your tourist visa every 30 days without a quarantee that it will be granted.

As said Medical matters matter most.There are good hospitals throughout Asia but the better ones tend to be expensive.Singapore is on par with anything in the world and is close to most retirement destinations.
We have given up the idea of retiring anywhere else but would like to spend 3 months or more in various places once I finally finish working.

 

[dajop]

Yes for medical certain places are quite attractive for specific low risk procedures. If diagnosed with a potentially terminal illness with ongoing treatment I’m not sure, could turn out to be very expensive for a good level of care.

 

[OZDUCK]

I am certainly not an expert on the Irish health System but when we were there last year there were continuous news stories on the car radio about the shortage of specialists in particular and hospital staff in general. A report had just been released calling for huge spending to get it up to even a reasonable level. Their version of a National Healthcare System seemed, according to the reports, to be very ramshackle and offering poor treatment options.

 

[lovetravellingoz]

I am interested in this new thread. Not for permanent living though, but rather to maybe spend 3 to 6+ months at a time living in various countries. Maybe even a year if Visas allow (may have to duck in and out to extend).

 

[marki]

AVOID UK and The Netherlands where they kill thousand of patients using the Liverpool Care Pathway (LCP) a form of palliative care more akin to euthanasia. Holland has "Verstevering" look it up people are put into a sleep no fluids no food. Because both are considered palliative nothing is reported.

Elderly patients are in Fear and hold special cards that they are not to be admitted into such programs.

29 % deaths in British Hospitals are due to LCP. About 130 Thousand a year. In about half these cases the family is not informed about the doctors decision ......how's that?

From University of KentProf Patrick Pullicino is fighting back. He saved lives by pulling these people out.

 

[burmans]

I have heard Malaysia is a very good place to retire to and have heard healthcare is good which appears true from some casual googling (not serious research).

 

[MEL_Traveller]

AVOID UK and The Netherlands where they kill thousand of patients using the Liverpool Care Pathway (LCP) a form of palliative care more akin to euthanasia. Holland has "Verstevering" look it up people are put into a sleep no fluids no food. Because both are considered palliative nothing is reported.

Elderly patients are in Fear and hold special cards that they are not to be admitted into such programs.

29 % deaths in British Hospitals are due to LCP. About 130 Thousand a year. In about half these cases the family is not informed about the doctors decision ......how's that?

From University of KentProf Patrick Pullicino is fighting back. He saved lives by pulling these people out.

Marki. Thanks for this. I had no idea!

Although LCP is no longer supposed to be implemented, there are claim the replacement program can be just as bad, if not worse: New NHS death guidelines 'worse than Liverpool Care Pathway'

 

[Isochronous]

The NHS is one massive death trap and a reminder not to retire in the UK.

 

[Aeolus]

Malaysia is a cheap place to retire, as long as you don't fall seriously ill. Private hospitals can be quite expensive but they are quite advanced. Cost of living is very reasonable. Buying properties can be quite costly but rental is cheap. Just as a rough guide, rental around AUD400-700/month could be attained (outside of KUL, places like Penang, Ipoh, Langkawi, etc). Eat like a local and you could live for AUD10/day (not inclusive of alcohol of course, stay in Langkawi if alcohol is a must as it's a duty free island). 30 days visa is manageable considering that the Thailand and Singapore borders are so easy to get to.

 

[craven morehead]

Following with interest

 

[RB]

I found it interesting that the group that I quoted in an earlier post gave big wraps to Penang as a retirement spot. I think I would get worn down by 2400mm of rain a year, 146 rainy days & constant high humidity

Malaysia is a cheap place to retire, as long as you don't fall seriously ill. Private hospitals can be quite expensive but they are quite advanced. Cost of living is very reasonable. Buying properties can be quite costly but rental is cheap. Just as a rough guide, rental around AUD400-700/month could be attained (outside of KUL, places like Penang, Ipoh, Langkawi, etc). Eat like a local and you could live for AUD10/day (not inclusive of alcohol of course, stay in Langkawi if alcohol is a must as it's a duty free island). 30 days visa is manageable considering that the Thailand and Singapore borders are so easy to get to.

I think quite a few people pursue a MM2H visa although there are restrictions

 

[JohnK]

But Gold60 think about Bali, Thailand as an option where it may be cheap living expenses and treated like a king. Healthcare may need to be in Australia which is a small flight away.

Thailand is quite expensive if you need to visit hospitals especially private hospitals.

My wife asked me the other day if we can retire in Thailand when daughter grows up. Unfortunately my auto-immune medication costs close to $10,000 every 8 weeks so Australia is the place for us.

 

[juddles]

To the OP, just a wildcard option (as I do not know all your circumstances and desires), but have you ever looked into Colombia? Specifically the city of Medellin? Colombia has a few pitfalls, a few issues. But it is retirement dreamland. Costs are very reasonable from everything from rentals to food. Medellin has a climate described in it's slogan of "eternal Spring" - which is very accurate. Medical services are absolutely top-notch. In such things as dentistry to laser-eye surgery Colombia actually leads the world - and at very affordable prices. It is slowly being discovered by USA retirees, but that is actually a good thing - they are expanding services etc to meet that influx. Near where I used to live an entire hospital for every type of surgery has been opened - targetting foreign clients. My experience of Colombia left my expectations of healthcare totally over-the-top - Australia is in some costly, deficient, service-restricted monopoly. As a general feeling, if you need two or more major dental issues like root canals done, it is faster, cheaper, friendlier, better quality to fly all the way from Australia to Colombia to get these done.

My preferred retirement place on earth is probably Rarotonga - the people are truly gorgeous, place is beautiful. But they lack the medical facilities that aging people need. Colombia has it all. At least take a researched look.....

 

[dajop]

I think I would get worn down by 2400mm of rain a year, 146 rainy days & constant high humidity.

In the tropics rainy days are a blessing! No sun so there’s a lid on the “feels like” temperature (Often a rainy day = clouds + a thunderstorm, not always rain all day).

Some people like the constant, predictable, warm weather. Some of us (those who grew up in our close to Melbourne perhaps) who are used to distinct Seasons - often on the same day even - find that the constant weather does indeed wear you down.

 

[juddles]

To the OP, just a wildcard option (as I do not know all your circumstances and desires), but have you ever looked into Colombia? Specifically the city of Medellin? ...

Adding to my first post, I will try to give some real figures. Just to help get an idea.

Until I left at the start of this year, I rented a very good apartment in Medellin - not fancy and new, but great. About $700 AUD per month. As a single person about $1000 AUD per month (apart from medical stuff) allows you to have a nice lifestyle, eat well, get drunk every weekend, and smoke like there is no tomorrow - sorry - getting too far into my own habits. $2000 AUD a month allows you to live very comfortably.

But having said that, it is no Third-world thing - you can find apartments in medellin that would cost you $3-4000 per month. There is available a lifestyle for every person. I have not looked into it recently but I suspect Colombia still offers "investor visas" - ie you buy a place for $250,000 and they give you residency. Am a tad out of touch with the details, but in summary Colombia offers affordable decent living, they have absoultely world grade medical services, and in places like Medellin a climate that puts Queensland to shame.