Move to Vietnam and get retired when I get enough saving

[VietnamLover]

Hi !

I want to be an early retired in SEA. I already know a lot Thailand, Vietnam, Cambodia and would wanna move to Vietnam to get retired there.

Regarding retirement visa in 2019 there are still no proper situation so you need to get invitation letters to reside there. It's not the main concern but things should change in the next years.

Now keep working on my saving plan to reach what would help me to live for 30 years

Cheers

 

[ShokWaveRider]

Welcome and good luck.

 

[Dtail]

Welcome to our wonderful forum.
Hope to se more posts from you.

 

[ER Eddie]

Cool. It's my understanding that you can retire for pretty cheap out there. I couldn't do it myself, because the cultural divide would be too big, and I'd end up feeling too isolated, but it sounds like you love the place and will fit right in. Best of luck.

 

[Teacher Terry]

My son is teaching English and math in Saigon and really likes it. It is cheap.

 

[Starper]

Also considering it. I haven't been to Da Nang yet, but from what I know it's probably the best place to retire in Vietnam

 

[brett]

We spent a month in Vietnam traveling independently from Phu Quok in the far south to Hanoi. We loved it. Plus 5 winters in Thailand, Malaysia etc.

Vietnam is changing very quickly. I have no doubt that in the next five to ten years the country will be very different-along with all the regulations. We like Vietnam very much and plan to return for a month.

IF we were to consider a place to retire it would be Thailand.

 

[ER Eddie]

Hi !

I want to be an early retired in SEA. I already know a lot Thailand, Vietnam, Cambodia and would wanna move to Vietnam to get retired there.

A couple questions, if you don't mind.

1. How old are you? How far off is your retirement?

2. What attracts you to the idea of retiring in Vietnam? What do you like about it?

 

[NW-Bound]

The OP wrote:

"Move to Vietnam and get retired when I get enough saving".

That implies that he will be working and saving money while there. I have no doubt that the cost of living is lower there than in the US, but would the pay also be lower?

 

[Winemaker]

https://www.bnnbloomberg.ca/world-s-high-net-worth-powerhouse-gets-a-taste-for-superyachts-1.1265254


Better buy your retirement property soon or you'll be priced out of the market. Vietnam is growing into a great place to build wealth according to this article. I've ordered my yacht, it's on back order, but now I'll have a place to harbor it.

 

[mickeyd]

I have too many friends and soldiers who "retired" in RVN 50+ years ago. I remembered them appropriately on Monday.

 

[explanade]

I visited a couple of years ago. Beautiful country but especially in the big cities, traffic is chaotic and pollution would be a big concern.

I only flew into Da Nang to get to Hoi Ann, which is a small town.

 

[FI FELLOW]

Was just in Saigon, DaNang, Hoi An and Ha Long Bay in April. Saigon is a large, busy modern city, DaNang is a beach resort, and Ha Long Bay may be the most beautiful place I've ever been.
The water is still deadly, however; got a week-long case of Ho Chi Minh's revenge from a fruit smoothy in Hoi An.
Vietnam is still a one-party communist dictatorship despite its recent free-market reforms however, so weigh that in your decision; things can change very quickly for foreigners in such countries.

 

[NW-Bound]

^^^ Vietnam's political system is the same as that of mainland China from what I read. The Communist Party controls everything, and they let people make money so they can have their cut. However, there's no freedom of speech or for the press. I have not visited either place.

The above said, I think foreigners are left alone as they are typically apolitical, or uninterested in local politics. So, retiring there is probably safe, but I wonder if they allow foreigners to buy properties. And speaking of that, I would not buy properties anywhere outside of the US. If nothing else, I know how the system here works.

 

[NW-Bound]

https://www.bnnbloomberg.ca/world-s-high-net-worth-powerhouse-gets-a-taste-for-superyachts-1.1265254

Better buy your retirement property soon or you'll be priced out of the market. Vietnam is growing into a great place to build wealth according to this article. I've ordered my yacht, it's on back order, but now I'll have a place to harbor it.

Yachts in Vietnam? Amazing how some people are so rich to be able to afford them, considering the taxes that are levied on just cars, according to what I just found.

... Automobiles are also subject to a 20 percent registration fee in Hanoi and a 15 percent registration fee in Ho Chi Minh City. While many automobiles are produced in Vietnam, consumers seeking to purchase a new imported vehicle are required to pay an additional 70 percent tax....

PS. Same as in China, I suspect that in order to "build wealth", you have to know the right persons and to have the right connections. A close friend of mine spent some time to expand his existing business to Vietnam. He said he gave it up when he discovered the hassle, the red tapes, and worst, the bribes that he was expected to pay. This was more than 10 years ago, so perhaps things are different now.

 

[explanade]

I think cars are beyond the reach of most Vietnames and they seem to prefer mopeds anyways, at least the young.

They have a lot of displays of old US tanks and aircraft, some with captions about how they captured the imperialistic enemy's military hardware.

 

[NW-Bound]

With the streets so congested, I suspect that you can get around a lot faster with a 2-wheeler than with a car. Plus, where would you park the car?

At least that's from the photos I see of Saigon and Hanoi. Not sure about other places in the country.

PS. Crowded Asian cities would drive me nuts. I barely survived Lisbon and Barcelona.

 

[flyingaway]

Vietnam is less discussed than Thailand as a retirement place. I have been there twice and barely touched the surface. I think most people there are poor compared to the U.S. standards. You have to live like the locals to stretch your dollars.
If you can find a legal job there, you may get paid much better than their locals.

 

[VietnamLover]

A couple questions, if you don't mind.

1. How old are you? How far off is your retirement?

2. What attracts you to the idea of retiring in Vietnam? What do you like about it?

Hi there, here is more informations about myself

1. How old are you? How far off is your retirement?

I am 45 yo already saving and building an asset (by renting a property) for the last 5 years.

2. What attracts you to the idea of retiring in Vietnam?

Easy country (as foreigner), cheap life. The visa is one of the only point that is not that easy to get yet (no retirement visa in 2019 : https://movetoasia.com/en/vietnam/retirement/) and super convenient to travel around, rent a long term apartment and meet expat.

Cheers

 

[Tenson]

Hi there, here is more informations about myself



1. How old are you? How far off is your retirement?



I am 45 yo already saving and building an asset (by renting a property) for the last 5 years.



2. What attracts you to the idea of retiring in Vietnam?



Easy country (as foreigner), cheap life. The visa is one of the only point that is not that easy to get yet (no retirement visa in 2019 : https://movetoasia.com/en/vietnam/retirement/) and super convenient to travel around, rent a long term apartment and meet expat.



Cheers

Hi!

I go to VN about once a year to visit family and friends and has considered retiring there when I FIRE. The country has changed a lot in the last decade and it is getting more costly every year. With stricter requirements for obtaining a retirement visa, VN is becoming a more popular destination which means it will only get more expensive to live there.

I believe the real problem is that a lot of these retirees cannot afford to retire within there own countries so when they retire in less developed countries, they live very frugal lives. Obviously, these countries want you to spend money and not become a burden to them (which has been the case in Thailand where a lot of expats are there without health insurance.)

The key take-away for me is to ensure that I have enough money to retire in the US (where I am a citizen) before thinking about living anywhere else.

 

[kcowan]

The key take-away for me is to ensure that I have enough money to retire in the US (where I am a citizen) before thinking about living anywhere else.

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.

 

[Nemo2]

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.

Circa 1987 took my late wife's (now also departed) parents to Portugal.....got talking to a Brit in a small town....he said he knew a lot of Brit expats who had sold up in the UK and relocated.....they'd like to return but couldn't afford to repurchase their old homes as the housing market there had appreciated so much.

 

[Teacher Terry]

We know someone stuck in Thailand and my friend’s son is stuck there at age 50. He’s been trying unsuccessfully to get a job back here. I warned my son about getting trapped but he only plans on staying a year or 2.

 

[kcowan]

OTOH we also know many expats who have bought beautiful ocean-view homes and live large while also traveling back to US/Cda/UK every year and going to other exotic places because their retirement dollars go so much further. For us, just going there for 6 months drops our "nut" by 40%. It could be 60% but we choose to live high.

 

[Aus_E_Expat]

As I have been an expat in Asia for many years, I have seen a few people who have got themselves trapped in the ideal of a "cheap" Asian retirement.

General rule is that if you are wealthy, you can afford to retire anywhere, if you are not wealthy, think through things very carefully before deciding to "retire" to somewhere supposedly cheap like Asia.

A few things to consider;

1. Will you be entitled to receive your pension if you are living in Asia (the Australian government has seriously tightened up the eligibility of expats to pensions and the requirement to spend part of each year in Australia - other countries may have done similar);
2. Medical insurance (again from an Australian perspective, medical treatment is free in Australia but if you are an expat in Asia, you will need to have your own insurance);
3. Lifestyle - yes, you can live a frugal and cheap lifestyle in much of Asia but as an expat there will be an expectation that you will spend money and have a certain lifestyle (things like apartments in expat areas, bars and restaurants do not come cheap).

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.