Countries offering retirement visas

[Teacher Terry]

In 1998 we were in Thailand for a vacation and both the air and water were really polluted. Winter is 90 and humid. Ugh! Some of these countries are cheap for a reason.

[explanade]

Just saw a House Hunters the other day based on Chiang Rai. Two teachers moved there, with only one having a job.

They rented a 3-bedroom house for $600 a month. It was clean, had some okay furnishings including a big flat screen TV and air conditioning.

I guess the savings are too tempting.

[Alan]

Quote:

Originally Posted by explanade 401Ks are inferior to pensions but maybe pensions over there are under duress too.

Private DB pension funds were going broke around the same time they were in the USA and the U.K. government established the Pension Protection Fund PPF around the same time as the US created the PBGC. Like the PBGC the PPF is funded by mandatory insurance payment by the companies that provide DB pensions.

Like the USA few UK companies today provide DB plans and instead provide matching contributions to 401k style DC pensions. They have been around a very long time. My BIL, a lawyer, has never worked for a firm with a DB pension and always had his own self invested personal pension plan. SIPP

In the 1980s the government decided to allow folks to "Opt Out" and only pay half of their National Insurance payments (FICA) into the U.K. SS system and invest the other half in their own SIPP. They would then receive a greatly reduced UK SS at FRA and their self invested money would provide the rest. BIL took advantage of this and after 20 years reckoned he had done no better than if he had done nothing. After about 25 years the government scrapped the scheme altogether.

[PartIrish]

Earlier this year, Ireland was considering modifications to its strict income requirements for retirees. Their current policy, passed several years ago, requires showing guaranteed income of 55K Euros/year per person. I haven't heard anything recently so I'm not sure whether the review has led to any change. It would be nice if Ireland were a more reasonable option for ex-pats.

[bmcgonig]

Quote:

Originally Posted by PartIrish It would be nice if Ireland were a more reasonable option for ex-pats.

Like fix the weather 😋😊😊

[Meadbh]

Quote:

Originally Posted by PartIrish Earlier this year, Ireland was considering modifications to its strict income requirements for retirees. Their current policy, passed several years ago, requires showing guaranteed income of 55K Euros/year per person. I haven't heard anything recently so I'm not sure whether the review has led to any change. It would be nice if Ireland were a more reasonable option for ex-pats.

€55,000 annual income PLUS a lump sum equivalent to the price of a home.

Retiring to Ireland

[Letj]

Posting to follow. This is a really helpful topic and timely for me since I am considering retiring abroad, at least part-time, in two to three years.

[97guns]

Quote:

Originally Posted by Teacher Terry In 1998 we were in Thailand for a vacation and both the air and water were really polluted. Winter is 90 and humid. Ugh! Some of these countries are cheap for a reason.

Quote:

Originally Posted by explanade Just saw a House Hunters the other day based on Chiang Rai. Two teachers moved there, with only one having a job. They rented a 3-bedroom house for $600 a month. It was clean, had some okay furnishings including a big flat screen TV and air conditioning. I guess the savings are too tempting.

The weather up north in the Chiang Rai Chiangmai area is really nice not too humid compared to the southern part of the country

[explanade]

Quote:

Originally Posted by Teacher Terry In 1998 we were in Thailand for a vacation and both the air and water were really polluted. Winter is 90 and humid. Ugh! Some of these countries are cheap for a reason.

Well they're developing countries.

Vietnam also has bad pollution problems. On top of that, they're downstream from China on a lot of garbage.

Even a wealthy place like Hong Kong suffers from air pollution that comes from China.

Looking to visit Singapore for the first time next year. Wondering how things will be there.

[haha]

Quote:

Originally Posted by Meadbh €55,000 annual income PLUS a lump sum equivalent to the price of a home. Retiring to Ireland

All that and you would still be in Ireland!

Ha

[explanade]

Short hop away from more sunny destinations though.

Used to work with some Irish colleagues and one of them drove his car into the ferry every August to France.

[PartIrish]

Quote:

Originally Posted by explanade Short hop away from more sunny destinations though. Used to work with some Irish colleagues and one of them drove his car into the ferry every August to France.

And that's the secret. Easy to get to Portugal, Spain, southern France or Italy when you want to dry out for a bit. Also, I have family who lives part time in London, so easy to visit her from Ireland.

[Meadbh]

Quote:

Originally Posted by explanade Short hop away from more sunny destinations though. Used to work with some Irish colleagues and one of them drove his car into the ferry every August to France.

It may be cheaper to fly. DUB has the best selection of destinations.

https://en.m.wikipedia.org/wiki/Dublin_Airport

[explanade]

Sure but he was taking his family and he wanted to drive around a lot.

So airfare for the whole family and a big rental car may not result in a lot of savings for 4 or 5 people.

[Meadbh]

Quote:

Originally Posted by explanade Sure but he was taking his family and he wanted to drive around a lot. So airfare for the whole family and a big rental car may not result in a lot of savings for 4 or 5 people.

Obviously it depends on the type of vacation you want. Taking the car ferry and renting a gite in the south of France is a very popular summer vacation activity for many Irish families. The catch is that all the French people are on vacation in August, so accommodation can get pricey! One of my friends liked it so much that they bought a timeshare near Cannes.

[bmcgonig]

Quote:

Originally Posted by PartIrish And that's the secret. Easy to get to Portugal, Spain, southern France or Italy when you want to dry out for a bit. Also, I have family who lives part time in London, so easy to visit her from Ireland.

Why would you retire there in the first place if you could instead retire in the places where it's already dry?

[audreyh1]

Quote:

Originally Posted by Meadbh Obviously it depends on the type of vacation you want. Taking the car ferry and renting a gite in the south of France is a very popular summer vacation activity for many Irish families. The catch is that all the French people are on vacation in August, so accommodation can get pricey! One of my friends liked it so much that they bought a timeshare near Cannes.

France in August is very hot! That would be the best time to stay in Ireland.

Go to France in off season - cooler.

Oops - I guess if you have kids in school that's trickier.

[PartIrish]

Quote:

Originally Posted by bmcgonig Why would you retire there in the first place if you could instead retire in the places where it's already dry?

Because I'm partial to the Irish culture and environment, rain and all. Also, my Spanish wouldn't get me very far, my French is worse, and Portuguese is nonexistent.

[explanade]

Well the Europeans get their vacation in August.

So the people from the northern, colder and wetter places all go south.

Yeah the amount of rain (and lack of sun) in Ireland would get to me. But there are also regions in Southern European countries where the temperature is more temperate, like northern Spain, northern Italy, northern Portugal, etc.

People in those countries go to those regions to escape the summer heat.

[Oma_here]

Quote:

Originally Posted by explanade Well they're developing countries. Vietnam also has bad pollution problems. On top of that, they're downstream from China on a lot of garbage. Even a wealthy place like Hong Kong suffers from air pollution that comes from China. Looking to visit Singapore for the first time next year. Wondering how things will be there.

Singapore is very expensive! My oldest who lives there tells me that even after several decades in Singapore most foreigners chose to retire elsewhere. In his words "the ROI on retiring in Singapore sucks". He is in his late 30s and I am curious what he will do once he retires considering that his fiance is Singaporean