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From any of those places, you can ride the bus an hour down the road and find perfectly nice towns where you can live for half that cost. On this list, you're paying a premium for a touristy atmosphere.
As several have pointed out, good luck getting a residence visa in most third world countries. One of the easiest in that respect is the Philippines, where you can just get off the plane and apply for a residence card. In addition to the low cost of living, foreigners can buy into PhilHealth, for $30 a month.
I'm currently living in Cebu, and loving it in a very livable city of 4-millon, on what a national magazine recently ranked as the second friendliest island in the world.
Cebu sounds awesome. Have to add that to my short list.
Quote:
Originally Posted by ohio_peasant
The impediment is political and cultural; the two are ultimately one. For many (most?) Americans, the very idea of a national health insurance is anathema, combining the worst of government incompetence and red tape, with the worst of medical bloat and opaque cost-structure. America remains a land of remarkable potential and robustness, but some travails of modern life just can’t be solved, without – sorry to use the term! – shifting the cultural paradigm. I don’t see how this is going to happen.
As for the whole retirement-abroad thing, yes, novel ideas appear with high frequency, each bout of the same news ever fresher than the previous. But here’s something that these articles never say: wherever you go, you’re going to pay US income tax. Got investments in Fidelity, Schwab or Vanguard? You’re going to pay US income tax, whether you live in Brooklyn or Borneo. And if you have enough investments to support the jaunty ex-pat life, chances are that your main expense isn’t going to be healthcare or real-estate or, ahem, intimate friends. It’s going to be taxes… wherever you go.
I don't mind that. I'd also get social security assuming it still exists in 20 years. But if I can live cheap off of my investments once I get to a certain amount, sounds great to me. Only way I can retire early is marry a woman with her own money or leave the country.
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
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Quote:
Originally Posted by ohio_peasant
The impediment is political and cultural; the two are ultimately one. For many (most?) Americans, the very idea of a national health insurance is anathema, combining the worst of government incompetence and red tape, with the worst of medical bloat and opaque cost-structure.America remains a land of remarkable potential and robustness, but some travails of modern life just can’t be solved, .
... wherever you go, you’re going to pay US income tax. ... chances are that your main expense isn’t going to be healthcare or real-estate ... It’s going to be taxes… wherever you go.
YMMV...currently while in a USA Domicile, my HC insurance premium only (NOT for actual procedures) is 3x my Fed USA tax obligation. USA HC (premium only) is over 50% of my annual budget. thus I elect to NOT carry USA HC insurance. Not sick YET (thank goodness).
I'm sorry to hear of the poor state of your finances. But in this country, a simple 911 call is likely to be enough to deliver you (or anyone else) into competent medical care within a matter of minutes. If you live in a more than sparsely populated area, you will likely have nearby the full range of medical facilities and specialists needed to monitor and care for any health condition at all. In these cheap-cheap foreign retirement havens, this is only rarely the case. For many expats, what stands in for 911 is a quick flight back to the US. Much better here to look before you leap.
That's IF a person has insurance. So millions can't get to ER with a simple 911 call.
Note: An ER must treat someone with a life threatening event, to the point that life is out of danger (but hosp doesn't have to admit or continue treatment; they can send the person on his way, even if he needs major medical care, but his life is out of danger).
I just read an article about the happiest places to live, and it seems like Costa Rica is one of the happiest places. I can't/won't go there, but it's a nice thought.
Norwegians rate themselves as happier than any other people in the world. Denmark is #2. Iceland and Switzerland fall in right behind those.
These articles do a good job of showing the benefits, but little to show the downside. Yes, many countries have a much lower cost of living, but they have very shaky economies, and very shaking financial systems. If you are able to keep your money in cash without risk of robbery, and avoid law enforcement, you could live quite well. I will use my mother in law as an example. She is from the Dominican Republic. She visits often, however when I asked why she wouldn't retire there, her response was direct and to the point. She said that the United States really protects it's citizens, and in DR, the authorities just don't care. She maintained a separate bank account back home, unfortunately, the bank closed, and the money she had just disappeared. About $3,000.00 dollars. Just gone. No FDIC to replace the deposit. She was also assaulted during a robbery, and went to the police. They didn't even take a report, they scolded her for walking by herself through the neighborhood.
Again, it's great as long as nothing happens.
Your point is well taken. But in all fairness, many countries are better in this regard than the Dominican Republic. It's become clear to some Americans from across the political spectrum that our government isn't looking out for us, either.
If health care costs too much money why don't more Americans think in terms of working for a true national health insurance system?
I think it's because we want different things. While I completely agree that health care in the US is a total ripoff, I want nothing to do with a national healthcare system. I think government meddling in our healthcare during and since World War 2 has created the mess we have today. I don't think more centralized control of the health care system is a solution at all. I find it interesting that many of these countries with cheap and effective health care have little or no insurance at all. People can pay cash for health care out of pocket. To me, that's a true free market and what we need more of. Right now we have a toxic mix of socialism/crony capitalism (not real capitalism). We spend so much on health care on a per capita basis, the amount we spend on publicly funded health care (Medicare/Medicaid) in America should actually cover 100% of our population without any need for additional funding. That's how inefficient our health care system is.
So, I'm sure you don't agree with any of what I just said. But it explains the apathy. People just give up. Individually, they can't control the health care system for 300 million people. We all agree on the problem but not on the fix. That's why there hasn't been one. So people give up and try to save themselves the best they can. All you really have control over is your own behavior.
The other side of it is some people are figuring out that the biggest problem with health care in America is actually the unhealthy lifestyle. The oversized portions, the sugary/salty/fatty processed foods & the drive everywhere/walk nowhere lifestyle that pass for normal here are not so normal in other countries. Many people find they effortlessly lose weight and subsequently don't need as much health care in other counties because it's so much easier to live a healthier lifestyle outside the USA.
People like Dan Buettner are leading the way in the healthy lifestyle approach. He is trying to bring his "blue zones" solutions to cities and towns across America.
I'd seriously consider it a plan B. If anything ever happened to my current job and I had to give up getting any decent job as a Chemist (a distinct possibility) I'd consider using my net worth to retire early and move abroad to make it work.
Same for me. If I lose my job, it will be hard for me to replace it with a comparable paying job quickly or easily. I have enough saved that I'd rather move to one of the nicer 3rd world countries than beat my head against a wall here.
As for the whole retirement-abroad thing, yes, novel ideas appear with high frequency, each bout of the same news ever fresher than the previous. But here’s something that these articles never say: wherever you go, you’re going to pay US income tax. Got investments in Fidelity, Schwab or Vanguard? You’re going to pay US income tax, whether you live in Brooklyn or Borneo. And if you have enough investments to support the jaunty ex-pat life, chances are that your main expense isn’t going to be healthcare or real-estate or, ahem, intimate friends. It’s going to be taxes… wherever you go.
But so what? You'd be paying them in the U.S. and getting a higher cost of living. If you're happier in a lower cost country and you can pull it off, it's worth it.
And I'm not even sure you're right about what you're saying. People move overseas because they can retire comfortably on a Social Security check and/or a portfolio of 500k or even less. A lot of people say they can live in Thailand on $1200 a month while spending pretty freely. In the U.S. the health insurance premiums alone can be $1200 a month.
But so what? You'd be paying them in the U.S. and getting a higher cost of living. If you're happier in a lower cost country and you can pull it off, it's worth it.
And I'm not even sure you're right about what you're saying. People move overseas because they can retire comfortably on a Social Security check and/or a portfolio of 500k or even less. A lot of people say they can live in Thailand on $1200 a month while spending pretty freely. In the U.S. the health insurance premiums alone can be $1200 a month.
This will definitely be an option for me, especially if I'm still single in 5-6 years. Done with America!
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