Retiring Overseas

by Mr. Cheap

I’ve toyed with the idea of retiring outside of Canada as a way to get more “bang for my retirement buck” or to retire sooner then I’d be able to here in Canada. I’ve met and read about people who really seem to be able to be able to do well by setting up camp in places where a modest Canadian passive income goes a long ways.

A friend of mine has an uncle who retired to Thailand. He’s living the good life with a 35 year old girlfriend (he’s in his late 60’s). According to him he’s able to live like a king on his Canadian pension. Most people would worry about health care in developing countries, but apparently the care is exceptional in Thailand, and its always possible to get evacuation protection where they’ll bring you back to Canada in case of serious emergency complications.

My brother some time ago talked about going to Buenos Aires for 6 months to study Spanish and learn how to surf. They call it the “Paris of South America” and apparently it has gorgeous architecture and cafes with very low prices. I’m tempted to steal his dream vacation and go set up camp there for a while, how sweet would that be?

Apparently some American plan to move to Nova Scotia, buy ocean-front property, and live the good life on the cheap. Being able to sell a condo in Toronto and use the proceeds to buy ocean-front property sounds like a pretty good deal to me!

Some people talk about retiring to Mexico, and I think that could be a retirement (as long as you weren’t in an area where they like to kill Canadians ;-) ).

My “requirements” for where I live are fairly basic. I’d need air conditioning if it gets hot at all (I won’t even live in Toronto without AC during the summer). I’d need high speed internet. And I’d like to be able to eat sushi occasionally.

In Tim Ferriss’ “The 4-hour Workweek” he recommends Buenos Aires, Madrid, and Berlin as places that you can have a really nice lifestyle for a comparatively low price.

Anyone have other ideas for places where you get a great lifestyle for a low price?

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