A travel article written by BBC’s author Rob Budden this week said a growing number of pensioners are seeking far-flung destinations.
They’re lured by hours of sunshine, a slower pace of life, favourable tax rates, and the prospect of a more fulfilling lifestyle where their income goes much further than it does at home.
Considered carefully, retiring abroad can deliver all of the above without compromising home comforts or quality healthcare, he wrote.
He then guided seven best countries to retire from from tropical towns in Thailand to coastal comforts in Central America where he said they have it all.
The seven best places to live after retirement are Panama, Ecuador, Malaysia, Spain, Malta, Portugal, and Thailand.
For Thailand, he wrote that “Known as the “The Land of Smiles”, Thailand offers expats retiring here plenty to smile about — a low cost of living, tropical clime, culture that respects older people plus no tax on RETIREE income from abroad.
International Living magazine ranked the country as one of the cheapest in its cost of living index, buoyed by competitive property prices. Eating out remains reasonable with a typical Pad Thai lunch available from just $1.
As well, the country’s retirement visa, which is renewable annually, is available to all retirees with monthly pensions of 65,000 Thai baht ($1,800) or to pensioners depositing 800,000 baht ($22,125) in a Thai bank account.
While the UK Foreign and Commonwealth Office rates many private hospitals in Thailand equivalent to western standards, it says standards at local hospitals can vary. Retirees should therefore budget to pay for local health insurance.
Further he wrote that a low cost of living, no tax on retiree income from abroad, a tropical climate and a culture that respects the elderly — what’s not to like in this retirement destination known as “The Land of Smiles”
Thailand is also the land of affordable living, according to International Living magazine. It ranked the country as the second least-expensive in its cost of living index, pointing out that an “over-the-top” luxury two-bedroom condo with great views can be rented for less than 40,000 baht ($1,200) per month. A Pad Thai lunch can be had for $1.
However, you should budget to pay for local health insurance as, while the UK Foreign and Commonwealth Office rates many private hospitals to western standards, the group notes that standards at local hospitals vary, he noted.