How Much You Actually Need To Retire Abroad in Southeast Asia
Written by
John Csiszar
Edited by
Levi Leidy
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Retiring in Southeast Asia used to be nothing but an idle fantasy for Americans, but it’s becoming much more of a practical reality these days. Nowadays, many of these countries actively court foreign retirees and have gone out of their way to provide amenities that Westerners find more comfortable. But, have they remained affordable? Here’s a look at some real-world figures, provided by Numbeo.
Housing Will Still Likely Be Your Biggest Expense
You’ll still pay a good portion of your retirement budget for housing in Southeast Asia, but compared with U.S. rents, it’s easy to score a bargain.
- In Chiang Mai, Thailand, for example, you can pay just $300 to $700 per month for a modern one-bedroom condo in the city center.
- In Ho Chi Minh City, Vietnam, fully furnished and air-conditioned apartments in the city center go for between $400 to $800.
- In Bonifacio Global City (Manila), luxury residences can top out at $1,500 to $2,000 or even more.
While there are plenty of cities and locations where you can find inexpensive rent, there are still plenty of exclusive enclaves that come with more Western-type pricing, such as in BGC. The bottom line is that housing costs in Southeast Asia can be either shockingly low or surprisingly high, depending on the location and lifestyle you want to lead. In most cases, however, you can find plenty of very comfortable apartments or condos that rent for less than $1,000 per month, or even less than $500 in some cases.
Daily Expenses Are Quite Manageable — Unless You Live a Millionaire’s Lifestyle
In a general sense, day-to-day expenses in Southeast Asia are very modest compared with most cities in the United States. But if you plan to live off imported meats and cheeses, fine wine and five-star restaurants, your costs might even exceed what you’re paying in the United States.
Here’s a range of what various expenses tend to cost per month across various Southeast Asian countries and cities, based on data from Numbeo:
- Groceries: $200 to $350
- Dining out: $100 to $250
- Internet and mobile: $25 to $40
- Utilities and air conditioning: $75 to $150
- Transportation: $50 to $120
- Housekeeper (weekly): $50 to $80
The problem with averages, of course, is that they can vary widely from retiree to retiree. While some are fine living with just the basics and can easily survive on a Social Security check, others purposely go overseas in search of the good life at a discounted price. The bottom line is that for some retirees, common, non-rent monthly expenses come in at less than $1,000, but the more “Western” your lifestyle is, the higher the cost.
Healthcare Can Be a High-Quality Bargain
Many top-tier facilities in Southeast Asia have modern equipment and are staffed by doctors who were educated and trained in the United States. By and large, costs for basic service are also surprisingly affordable. Here are some sample costs for medical care in Thailand, Malaysia and the Philippines, based on data from Numbeo:
- Doctor visits: $10 to $30
- Specialist consults: $30 to $60
- Dental cleaning: $25 to $45
Since costs for routine medical care are so low, many expats pay cash and then rely on international insurance to cover expenses for major procedures. However, as with general day-to-day expenses, costs can vary considerably based on your location and needs. It’s best to price these costs out before you take the step of actually retiring overseas.
Retirement Budget Examples for Various Lifestyles
Regardless of your lifestyle, you’re likely to save money if you choose to retire in Southeast Asia. Although you’ll have extra ancillary costs, such as visas and airfare, most costs are lower unless you really shoot for a top-tier lifestyle. Here’s how much you might expect to spend depending on if you’re seeking a budget, mid-tier or high-end lifestyle in Southeast Asia:
- $1,200 to $1,800 should get you a decent, budget-friendly life, including a no-frills lifestyle, a local apartment on the outskirts of a city, dining at local, family-style restaurants, self-paid healthcare and infrequent travel. This could work in many small towns or city outskirts in Thailand, Vietnam or the Philippines.
- $1,800 to $3,000 could bump you up to a mid-level apartment with air conditioning, decent health insurance and more frequent Western-style dining. You could also afford some short-range trips and vacations within this budget.
- $3,000 to $5,000 or more could get you a luxury lifestyle in many Southeastern Asian cities. The higher end of this range could get you a spacious, Western-style apartment with a fitness center and a housekeeper. You could also afford top-tier private hospitals and more frequent vacations, along with frequent dining at Western establishments.
The Bottom Line
Southeast Asia used to be the refuge of backpackers or adventurers. But nowadays, it’s also become the home for millions of expats, both those living a minimalist lifestyle and those living the high life. With beautiful beaches, warm weather and a low cost of living, countries like Thailand, the Philippines and Vietnam are exactly what many retirees seek. Whatever type of retirement you’re looking for, there’s likely a lifestyle that fits your budget.
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