Retire Overseas?

[EarlyFIRE]

Hi guys,


I did some searches and didn't see anything, so hopefully this is not a repost. There are obviously tons of articles (some seem like marketing) about retiring overseas. I wanted to ask, has anyone in this group actually done it, and what has your experience been?


Healthcare, CoL, Safety, ExPat Communities, Locations, Side Businesses, etc.


Real stories, not from the marketing magazines.

 

[ShokWaveRider]

There are a few posts on this, but personally I would like to hear some fresh information too. Especially regarding Healthcare for those over 65. Mexico does not provide HC for ExPat Seniors and HI appears very difficult to get. I believe there are a few folks here living abroad and enjoying the good life.

 

[marko]

There are a few posts on this, but personally I would like to hear some fresh information too. Especially regarding Healthcare for those over 65. Mexico does not provide HC for ExPat Seniors and HI appears very difficult to get. I believe there are a few folks here living abroad and enjoying the good life.

Family friend of DW's moved to Costa Rica. Seems to live pretty well 500 feet from the beach. LCOL, gets fresh eggs from his next door neighbor and home-made beer from another. Decent, nice looking home on a dirt road.

He claims that his HI costs him about $80 a month but he's either high or drunk most of the time so his claim is somewhat unreliable--just as he's been most of his life; sort of a "Margaritaville" lifestyle.

His momma left him about $3MM. Some day I'm going to write a book about "Idiot's Living Well"

 

[Nemo2]

He claims that his HI costs him about $80 a month but he's either high or drunk most of the time so his claim is somewhat unreliable--just as he's been most of his life.

Solid recommendations are invaluable!

 

[Dtail]

Family friend of DW's moved to Costa Rica. Seems to live pretty well 500 feet from the beach. LCOL, gets fresh eggs from his next door neighbor and home-made beer from another. Decent, nice looking home on a dirt road.

He claims that his HI costs him about $80 a month but he's either high or drunk most of the time so his claim is somewhat unreliable--just as he's been most of his life; sort of a "Margaritaville" lifestyle.

His momma left him about $3MM. Some day I'm going to write a book about "Idiot's Living Well"

That $80 amount could be correct for Costa Rica.
SWR is correct I believe as it relates to Mexico. If one retires in Mexico, one needs to go there before 65 y.o. to qualify for their country's HI programs.

 

[ShokWaveRider]

That $80 amount could be correct for Costa Rica.
SWR is correct I believe as it relates to Mexico. If one retires in Mexico, one needs to go there before 65 y.o. to qualify for their country's HI programs.

Or, any type of after market health insurance for the over 65 crowd without severe restrictions. But most Expats seem to go private in Mexico as it is reasonably priced. Then keep Medicare for any big stuff and go back to the USA for treatment if needed.

 

[brett]

Several years ago we rented a condo for a month in Costa Rica (Cocoa Beach). Most of the people in the complex were American. I do not know what the financials are but they all seem to tell us the same story. COL, climate, and every one mentioned the cost of medical.

The restaurants and bars were full of expats.

 

[bltkmt]

...but he's either high or drunk most of the time

Not that there's anything wrong with that!

 

[brett]

There are numerous expat forums from various countries. I was on one a few years ago when we were considering doing six months or so a year in Mexico. You might want to try google to see if you can locate one. There will no doubt be lots of interesting comments and sage advice if you hit on the right one.

 

[NYEXPAT]

I retired overseas 15 years ago, been great, wish I could stay here forever, YMMV!

 

[candrew]

Family friend of DW's moved to Costa Rica. Seems to live pretty well 500 feet from the beach. LCOL, gets fresh eggs from his next door neighbor and home-made beer from another. Decent, nice looking home on a dirt road.

He claims that his HI costs him about $80 a month but he's either high or drunk most of the time so his claim is somewhat unreliable--just as he's been most of his life; sort of a "Margaritaville" lifestyle.

His momma left him about $3MM. Some day I'm going to write a book about "Idiot's Living Well"

DW & I lived in Costa Rica for the entirety of last year. In our opinion, the country's reputation as a LCOL place to expat and live in retirement is not entirely deserved. Although the C.R. gov't requires a USD $1,000/month income to establish residency, good luck living there on that amount. Unless one wants to live like a local Tico eating mostly casado with rice and beans and in a small Tico style home. Groceries are quite expensive as is electricity (most Ticos don't have hot water as a result). Owning and operating a vehicle is costly (gasoline about $5 gallon) and public transit is not always widely available.

And if your friend is living 500 feet from the beach, unless it is a cabana type of structure, decent housing built to proper standards is expensive. Insanely expensive as one gets closer to the ocean. Rents are also quite pricey unless it is a Tico type of house.

Yes, the $80/month HI amount is accurate once a person acquires their residency.

On the plus side, Costa Rica is a stunningly beautiful country with incredible bio-diversity. We found Ticos to be a friendly, hard working people. The indigenous Borucan people have a rich history and culture.

 

[martyp]

I retired to Bangkok, Thailand in 2017. I’m 63 and love it here. I recently bought health insurance here. I have insurance here for a little less than my previous US insurance with a $1200 deductible because health care health is so inexpensive I can easily pay out of pocket for routine care.

I love the warm weather. The people. The food. The inexpensive travel. The culture. The casual lifestyle. Bangkok is both modern and Thai with plenty of cultural activities.

 

[zinger1457]

I retired to Bangkok, Thailand in 2017. I’m 63 and love it here. I recently bought health insurance here. I have insurance here for a little less than my previous US insurance with a $1200 deductible because health care health is so inexpensive I can easily pay out of pocket for routine care.

I would have thought that health insurance in Thailand would be much less expensive than the US if their health care costs are so inexpensive. If it's only a little less than US then it's still very expensive, unless you're referring to your cost for a US employer subsidized plan.

 

[martyp]

I would have thought that health insurance in Thailand would be much less expensive than the US if their health care costs are so inexpensive. If it's only a little less than US then it's still very expensive, unless you're referring to your cost for a US employer subsidized plan.

First of all, I'm not sure if there is a tight connection between the cost of insurance, here or anywhere, and the cost of healthcare. However, it also depends on what you are comparing it to. My US health plan was through the University of CA and from what I could determine through a few conversations my health care premiums were very low compared to what other US citizens were paying for health care. So for my Thai insurance to be even lower than that is pretty good. There were some higher premium plans out there that didn't have high deductibles which I choose not to apply for. In any case you would have to investigate insurance comparisons for your own particular case.