Retire Overseas to Live in Style (and Get Out of Babysitting Grandchildren)

Posted on February 14, 2014

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Whenever Life in the Boomer Lane checks the Fifty section of Huffington Post, she always sees an article prominently displayed about the best places for boomers to retire.  Sometimes, they are even followed by those same places listed as the worst places to retire.  All of this has LBL having a vision of millions of boomers hip-hopping across the planet, in an attempt to either find their car keys or to explore places to live.  LBL then thinks she should write a post about this, but she never gets around to it, mainly because the hunt for her own car keys takes up too much time.

Lo and behold, LBL was contacted by someone with a ready-made post.  She presents this to you now, so that she can enjoy her own Valentine’s Day without having to think about writing a blog. Her own Valentine’s Day will consist of being sick (Thanks, grandsons!) and breaking records of how many days she can spend in her pajamas.

Note to readers: If any of these locations are intriguing to you, but you are too busy to take the time to see them, just send LBL airfare (first class preferred) and reservations to a four or five star resort and she will check them out for you.  If you buy her a new iPhone, she will even text you photos.

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Retire Overseas to Live in Style (while still saving money)

With a high cost of living at home, it’s not only difficult to save for retirement; it’s difficult to make that money stretch through retirement as well. Moving overseas is one option many retirees favour – but how do you know where to go?  We’ve put together a list of the top 5 cheapest retirement destinations that offer a great quality of life and a low cost of living.

Chiang Mai, Thailand

Chiang Mai has been a popular destination for retirees for a number of years now, offering a low cost of living – even by Thai standards. The city has several modern hospitals, cheap healthcare, large gated retirement communities, a big expat presence, and Western-style restaurants and entertainment options alongside traditional Thai culture.

Rent: $400

Basic groceries for a couple: $250

Entertainment: $250

Electricity: $35

Gas: $5

Water: $5

Internet: $20

Cable TV: $20

Landline phone: $10

Total per month: $1,000

Cebu, Philippines

Offering beautiful coastlines, stunning natural landscapes and a low cost of living, Cebu is a great choice for retirees looking to save money. The province has an international airport, making it easy to travel home to see family and friends, and visas are generally easy for retirees to get.

Rent: $450

Basic groceries for a couple: $200

Entertainment: $250

Electricity: $30

Gas: $10

Water: $10

Cable TV: $30

Internet: $40

Landline phone: $10

Total per month: $1,030

Hoi An, Vietnam

Packed with culture, bustling marketplaces and tropical beaches, Hoi An also offers great value for money for retirees. Situated on the South China Sea coast, Hoi An has a designated UNESCO World Heritage Site in its Ancient Town.

Rent: $550

Basic groceries for a couple: $150

Entertainment: $250

Electricity: $50

Gas: $5

Water: $20

Cable TV: $30

Internet: $15

Landline phone: $5

Total per month: $1,075

Granada, Nicaragua

Granada is not only one of the cheapest places to retire and live well, it is also one of the most beautiful, with well-preserved colonial-era architecture, and the stunning Lake Nicaragua and dormant volcano Mombacho providing the perfect view. English is spoken widely, and there is a large expat community in town.

Rent: $300

Basic groceries for a couple: $175

Entertainment: $150

Electricity: $40

Gas: $15

Water: $7

Cable TV: $20

Internet: $45

Landline phone: included with Internet

Total per month: $752

Cuenca, Ecuador

Located just outside the El Cajas National Park, Cuenca not only offers stunning natural surroundings, it has also earned a UNESCO World Heritage Site designation for its beautiful historical landmarks, including museums, cathedrals and parks. With a temperate climate, low cost of living, and well-run political and healthcare systems, Cuenca is a popular destination for overseas retirement.

Rent: $450

Basic groceries for a couple: $300

Entertainment: $320

Electricity: $40

Gas: $5

Water: included with electricity

Cable TV: $30

Internet: $35

Landline phone: $20

Total per month: $1,200

If you want to retire in style, you need to choose the right retirement fund. Check out retirement fund options to find the best one for you, and start working towards your retirement as early as possible.

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