Move to Vietnam and get retired when I get enough saving

[neihn]

Yes we see "captive" retirees in Mexico. They move here because they can live on SS along with some other meager sources. They sell their home and buy one here for half price.

It is a nice safety net but, when it is mandatory, it feels like prison.

Agree with your assessment.

Back in 2007, I planed to RE in Vietnam in a few years (2009 or 2010), but held back the plan for various reasons. I am glad that I did that, otherwise, I would be stuck over there. I retired last June, and can stay in the US or Vietnam or anywhere for that matter. Just love the options.

 

[kcowan]

I know a few people who are long term expats, now in their 70s who cannot get jobs as too old to get working visas and who are surviving on modest pensions in outer suburban areas with young wives and children who expect to be supported - basically they are miserable and unhappy - and trapped.

I think they need to give their head a shake. If they have a young wife, send her out to work and he can manage the children. It is a life!

(Can you hear the guy saying to his friends back in the US: "Yes I have a gorgeous young wife but I hate having to spend all that time with my kids!" Cry me a river!)

 

[Nemo2]

I think they need to give their head a shake. If they have a young wife, send her out to work and he can manage the children. It is a life!

(Can you hear the guy saying to his friends back in the US: "Yes I have a gorgeous young wife but I hate having to spend all that time with my kids!" Cry me a river!)

I've never been there, Thailand/Vietnam et al, but harking back to my days in Saudi, when a lot of single guys regularly spent R&Rs in Thailand/Phillipines, ISTM that the only reason most (all?) of these guys have 'young wives' is because the guys are paying the bills.

For the women, having an old guy around and also being obliged to work is akin to the proverbial "Having a dog and barking yourself".

 

[haha]

I've never been there, Thailand/Vietnam et al, but harking back to my days in Saudi, when a lot of single guys regularly spent R&Rs in Thailand/Phillipines, ISTM that the only reason most (all?) of these guys have 'young wives' is because the guys are paying the bills.

For the women, having an old guy around and also being obliged to work is akin to the proverbial "Having a dog and barking yourself".

What I was just thinking. A young woman is automatically attractive to an older man. But that man had better provide his wife with something more appealing than his old body. She is walking around in her currency. He needs to have plenty of his in a bank.

Ha

 

[NW-Bound]

... I know a few people who are long term expats, now in their 70s who cannot get jobs as too old to get working visas and who are surviving on modest pensions in outer suburban areas with young wives and children who expect to be supported - basically they are miserable and unhappy - and trapped.

The men most likely were not broke when they were able to attract young local women to be their wives. They did not have enough money to continue the lifestyle, apparently.

 

[zinger1457]

It's common in most SE Asian countries that the working age children will take care of their elderly parents financially. If you go there for retirement and marry a local women you may be expected to support more than just you and your new wife.

 

[Markola]

What I was just thinking. A young woman is automatically attractive to an older man. But that man had better provide his wife with something more appealing than his old body. She is walking around in her currency. He needs to have plenty of his in a bank.



Ha

I’ve read that in Costa Rica it’s called “An Arrangement.”

 

[explanade]

It's common in most SE Asian countries that the working age children will take care of their elderly parents financially. If you go there for retirement and marry a local women you may be expected to support more than just you and your new wife.

Yikes!

Why even have children at 70?

 

[EA-Sports]

I think there’s a difference between;
1. Working and saving your income in the US and/or Europe and then spend them in retirement in LCOL countries such as Vietnam, and
2. Working and saving overseas as expat in LCOL countries such as Vietnam then retire there because one can’t afford to go back to the US and/or Europe.

We kinda mixed both in this thread.

I think if you’re in situation 1 then you’re or should be better off then if you’re in situation 2. Oh yes, don’t marry young girl from SE Asia when you retire there unless you have a boatload of money ready to fund that lifestyle and it’s expectations.

I like the comments about not being trapped in situation 2 for too long, that’s a good reminder.

 

[JakeinChina]

Vietnam will certainly get more expensive each year. Its booming right now and gets pricier on many staples. My strong advice is to buy a small apartment in a great location whichever city you plan on living. If you rent, your going to have high COL expenses in the near future. At least if you have a paid off apartment in say District 1 of HCMC, the value of the home will only go up.

 

[Starper]

Can a foreigner buy an apartment in vn?

 

[neihn]

Can a foreigner buy an apartment in vn?

Yes and no, you can own the building on the land, however, you can only lease the land for 50 years (it is renewable). It is awkward and crazy, stupid if you ask me.

https://www.investasian.com/2017/03/25/invest-vietnam-property/

 

[explanade]

If they allowed foreign investors, you could see prices going up like crazy and the Vietnamese people being priced out of any real estate, especially in the prime locations.

 

[neihn]

I understood the intention, however, it did not work - home price is still very expensive and out of reach for most of people in Vietnam.

After the re-form (China style reform), there is a new class (red-capitalist) which controls the country's economy and the laws are always on their side.

 

[JakeinChina]

Foreigners can buy residential real estate in Vietnam, as the rules and that funny land lease are similiar to China. Its not like they're going to take away your home in 50 years, its just that people can't own residential use land in Vietnam and China. Eventually the laws will change, but my suggestion is buy a small apartment in a big city in a great location if you intend to live there long term ( at least 5 years). District 1 or one of the newer up and coming districts if your thoughts are Ho Chi Minh