Cheapest countries to retire (for $1000/mo or less)
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- Опубліковано 27 вер 2024
- We just saw another list recommending cheap places to retire abroad, but it may not be possible to actually LIVE in several of them, even if they have a low cost of living.
So in this video, we’re going to unpack this list and give you a few options that might work BETTER if you’re on a tight budget.
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I've lived in Thailand for 11 months now. Entered on a 30-day tourist visa and immediately hired a Visa Agent for a retirement "O" visa.
Yes, you can live here on $1000/mo as a single person.
* I avoid commenting, but you two are so helpful and you requested help.❤
Thanks!
Welcome to Thailand, I've been here 8 years, and it's great.
You Can not Live in Thailand on $1000.00 per month. You can only exist
The flights look so expensive these days to test out some areas. Any tips?
@@DavidJames-g5f sounds like u need to work some more and save. 😞
Health care quality is a big problem with Cambodia. I would also point out that in all the countries in that region (Thailand, Laos, Vietnam, Philippines...been to all of them) that while your risk of violent crime is low, you have a much higher risk than in developed western countries of stupid, ordinary accidents. Getting hit by a reckless motorcycle driver, slips & falls, car accidents, fires in places that aren't nearly up to western fire-safety standards, and so on.
I’m not disagreeing but a lot of those examples result from a lightly regulated society. Living here in Thailand feels remarkably free compared to life in the US. Of course personal responsibility is important. It’s a question of values and trade offs.
I used to follow your channel when I had friends living in Cuenca and was considering retirement there. I too was a Coloradan and after 40+ years in the mountains I felt I wanted some tropical beach time. I have fairly low income not much more than the numbers you are talking about. I’ve spent lots of time in Mexico and love it there, but crime is a constant under lying issue there in some areas. And as you mentioned, costs are skyrocketing in Mexico for visas. I then spent 6 months in the Philippines. In the Philippines you can get a tourist visa and renew every few months. After 3 years on extensions you must exit the country for 24 hours. Shampoo, rinse, repeat, good for another 3 years…. Not a lover of the foods there, there is also a fair amount of crime in and out of the cities. And if you need health care there good luck unless you’re minutes away from a major hospital in Manila or Iloilo City. I am currently in Thailand and enjoying myself on a relatively low budget. The food is wonderful, cost of housing is extremely reasonable, the only real criminal element comes from foreigners. Due to the Buddhist culture and the belief of Karma ,theft and violent crime is super low. The medical care here is 2nd to none, just top shelf…!!! Visa costs are a little on the high side, but if you balance the pros and cons…. not a bad overall choice.
@@jackeisman8029 How important is it to speak the language? Can you live a decent life if you only speak English?
@@KP99 Many here in Thailand only speak their native tongue And can get along. I Will start taking Thai languages lessons soon to enhance my rxperience here …..
If Cambodia health care is low. You can always go to Thailand for better health care.
One issue with Malaysia is they've changed the terms of their visa program several times since suspending MM2H in 2022 and the approval process has been transferred back and forth from immigration and tourism departments. I know people who waited for a year to get approved, only to have their application denied or terms changed. Also, why would anyone deposit $100K into a Malaysian bank and forego interest rate growth from high yield savings accounts, stock market or real estate investments in the US?
Yes Malaysia is off most people's list now a days.
I am not sure what is in the mind of the legislators in Malaysia with regard to retirement immigration. I assume that such immigration is a boom to the economy but perhaps there are other considerations. Malaysia seems like a great country to retire in or spend a lot of time in.
@vanhalen45 I've talked to expat lawyers. Several have remarked that the economic power of immigrants is not as important to a country as most immigrants estimate. To put it another way ,they really don't want us or care about us.
Absolutely correct: they've moved the goal posts in an attempt to attract wealthy foreigners and instead just hurt themselves. They also have a high income requirement along with expensive required health insurance. Some of the steeper requirements came after COVID requirements were relaxed and it's as though they're trying to make up for lost income during that time period. Pity: Penang would be at the top of my list if there were reasonable requirements.
Sadly they made it very difficult as I would have seriously considered moving there. So much better than Thailand in many ways.
I live in Mexico and it has become very expensive down here with the super pesos constantly raising in value and higher inflation. And the visas requirements are now unachievable for most.
that's true, the strength of peso relative to many currencies, is very strong. And the annual rise in financial requirements is quite extreme.
You need about 20000p to buy the regularization visas! I have lived here in Mx for 13 years. And am now priced out.
@PatJones-jz9rs I have thought about going to the South although I am from the West.
What about the crime rate in mexico ?
Agreed - when I watch expat videos about what folks are paying for basic groceries and thinking it's cheap, I'm like "Eek. That is more than we're paying up here." Certainly not in every case and the country is so vast it certainly varies on price and availability, but your point is very well made.
I recently traveled to my home country, Nicaragua, after 8 years. With $1,000 you will be merely surviving. It used to be that 1K would go a long way, not anymore. You won't find a nice apartment or house in a good neighborhood for less than $300. Add utilities, food, and cell service. In addition, you will need a car because public transportation sucks unless you live in a city like Granada and walk most places. Not to mention a gallon of regular gasoline is almost $5. It is cheaper than most large US cities and with 2K a month is doable. Living in a poor country like mine with $1,000 or less doesn't seem attainable.
That is super sad to hear; thank you for sharing that and I'm so sorry. I can imagine how disappointed I'd be if I were in your shoes. That does surprise me, having some experience from that area in earlier years. You make excellent points about how you need that infrastructure in order to not bleed out in terms of daily nickel and dime costs.
Vietnam gives you 90 days, Thailand , gives you 90 days, Malaysia gives you 90 days , then go to Cambodia or Indonesia. Or both for 90 more. Lather , rinse , repeat. All short flights. All very affordable. Just pack light. You’re gonna be wearing shorts and tshirts and flip flops. One suitcase. One backpack. That’s all you need. Rent. Don’t buy. SE Asia has real value. It’s safe. Good medical care that’s affordable either in the country you’re in or a short flight to Thailand , Malaysia or Singapore.
Call it slow travel or whatever. You just have to keep moving if you don’t want to deal with all the rules to get the retirement visa. For me that’s good anyway. Thailand is great. Fun. Beautiful women. Party vibe. And all that. But Malaysia is very cool as well. Completely different and it’s right near door. English speaking. Kuala Lumpur is a great city to visit. Different kind of nightlife. But still fun. Very conservative compared to Thailand.
I’m in Thailand now. My time is running out here. Gonna pack up the condo and check out Vietnam next. Da Nang and Na Trang areas first. I’ve heard you can keep renewing the 90 day e visa. Also have heard you can just keep renewing the 30 day visa on arrival or whatever.
You just gotta keep moving. Since Covid and with the rise of remote work/digital nomad these countries frankly do not want Americans scraping by on social security. They want wealthy people who did well with 401ks and all that. So if youre blue collar like me you got to keep moving. Which I don’t mind doing.
I like the way you think. Honest and to the point. 401k wealth means that an American stuck to a job and contributed like hell. Of course, many retirees get by on just SS payments... maybe enough to have a better life in a place like Phils or Vietnem or Cambodia. Part of me really wants to wish that all Americans and others had enough resources in retirement. Keep on moving.
Very true! Amelia is already talking about doing slow travel for the next 3 years. When we started, she only agreed to 3 months! 😂
You are in the "Paradise Stage" .
@@vanhalen45 , I have been doing it since 2016, it is a great life. I love it , different places every month.
Thailand's geriatric medical care is way overrated. Long wait times, poor medical education and very limited awareness of pharmaceuticals. Thai's medical system consistently is GIVEN high marks but I don't know why. PATIENTS don't claim it to be 'high' either.
Love your channel. I live in Philippines comfortably on less than $1000/month but I do own my own home. I live a good life, eat well (away from any tourist areas and expat hotspots) Visas are fairly easy to get and there is good healthcare available in Manila. I think you can qualify for the SRRV for $10,000 now. English isn't widely spoken in the province though, I speak enough Tagalog. I have residency it requires a "check-in" once a year and a small fee like $20 but you have to pay to leave!!! They are always changing the tourist visa requirements, you used to have to renew it every 2 months and leave every year. I think you can get 6 months now and leave every two years as a tourist. I know people who have been here 20 years on tourist visas. The SRRV Visa is actually better than the 13A spousal visa as I don't think you have to pay to leave.
I like your channel as you guys dared to "look behind the curtain" and see the USA for what it is and you had the balls to leave. A lot don't even see it. The wage slaves living in the rat-race and healthcare hostages. Good job.
Great comment
Thanks for sharing! I prefer to call it a hamster wheel because rat race implies you have a chance of winning. It felt more like we were running around in circles and not going anywhere. If we had stayed, I would have needed to go back to corporate to get health insurance and been another healthcare hostage. We’re so glad we chose a more unconventional life! 🥳
@@AmeliaAndJP I hear you loud and clear. Healthcare was the #1 reason I left the USA, closely followed by extortionate property taxes and the general cost of living. Ironically the lack of freedom in "Land of the Free" was also high on my list. You need a license to go to the bathroom there and insurance in case someone smells it. The least free country I have ever visited actually.
@johnyoungieyoung123 I agree, the property taxes are criminal.
@@johnyoungieyoung123 What other countries have you visited, that are also more free than the US? I genuinely am curious. Living in the US, we sometimes assume it's the land of the free, but maybe we're so used to all the regulations that are meant for the common good, that we actually don't realize that all those regulations make us much less free.
There is no 3yr tourist visa in the Philippines. Once you enter you can however continue to extend your tourist visa for up to 3yrs. The longest extension is 6 months but you don't always get that long. Common extensions are 2 months so you will be frequently extending your tourist visa. At the end of 3yrs just leave for 24 hrs and re-enter and start all over again. Some expats have stayed in the Philippines for up to 20 yrs by extending their tourist visa's.
Two years ago we have retired to Bulgaria with my wife and two cats and live quite lavishly on 1,800 USD per month. So if we are talking about $1,000 budget per family it is a stretch, but for $1,000 per person - your are getting incredible lifestyle in one of the safest EU countries that is a NATO, EU, and Schengen-zone member. Bulgaria provides a specific retirement visa. Internet here is all fiberoptic and actually is much faster and more reliable than we had in US. We heard a lot about southern part of Albania (Saranda) and are going to check it out next month. We love a 1-year visa for Americans in Albania, but not sure we will be happy in a country which is not EU or NATO member and where you must mostly pay cash because CC are not widely accepted. Everybody is different and is looking for different things in their retirement. I like swimming in a warm water, so we have seriously considered retiring to Cozumel, or to Costa Rica, or to Ecuador, or to Thailand, or to Malaysia, or to Indonesia. But we found a place that better fits that (swimming) and visa requirements and/or our budget. Here we can swim in a crystal clear sea water (not as turquoise as in Saranda, Albania or in Ko Samui, Thailand, but still very nice) for 4 months, and for the rest of the year in a swimming pool with warm mineral (smell-free and healing) water that are located in our condo complex and is free for residents, or in one of the spa centers located nearby. There is no absolutely perfect place on the earth, especially if you have $1,000 per month limitation, but so far we are quite satisfied about our decision to retire cheap to Europe
I think you two provide the most useful retiring/living abroad information out there.
Thanks!
Great follow up to that article. I read it and thought the same thing. My picks are still Panama Ecuador or Peru for sure.
Thailand, Thailand and Thailand would be my clear cut winner. But Mexico (cost rising fast), Malaysia, Philippines, Panama, Vietnam next
@@mactravel112 I already have a baseline of Spanish and I don’t want to be on that side of the world. Besides I lived in Florida for a decade. Heat and humidity is not a good combo for my issues. I can deal with rain as long as it’s not oppressive heat. I’m more after elevation and a predictable weather pattern.
@@TheRockInnRobin I'm similar with a very good baseline in Spanish, Mexican permanent residency and a home, but overall the more time I spend in SE Asia, the more I understand they have a higher quality of life. There is a lot to love about central and south america though.
There is high crime level in Peru.
@@lolal2502 good thing I don’t have anything to begin with.
Here's the secret to the Sarawak option. Get in using their version and you can use it to live on mainland Malaysia. You just have to come back to Sarawak a couple weeks a year.
The slow travel option expands the list of potential countries enormously. House sitting is one approach that can make otherwise expensive countries very affordable.
Albania is not as cheap as it was two years ago. I spent last summer on the coast there and spent about the same as I do in Bucharest. Still less than $1600 a month for a couple! It is also pretty dirty and hot in the summer. I love the country, especially the nature and history, but it is somewhere that you need to visit first before deciding if it is for you
I spent a month there recently and I completely agree with your comment
Thanks guys. With Ecuador now taxing US Social Security, I'm looking at Peru. I lived there many years ago, and it's doable if you know where to go in Lima, Arequipa, or Cuzco. Sad what's happening in Ecuador. Taxing the gringos will dry up investment and harm their economy.
This is not true. It was misinformation. Don't believe everything you see online.
Buenas tardes, qué quieres decir con que los gringos gravan en Ecuador? Te refieres a que si cobran pensión pagan impuestos en Ecuador? Por favor aclárame esto porque hemos pensado en Ecuador para vivir
Ecuador is NOT taxing folks Social Security.
My wife and I spent most of this winter in Portugal and I can't see living there on ~1000 Euros/month, and not even close in Lisbon. Which is sad when you look at average incomes of people there - the cost of living is quickly becoming a real burden on locals. If you were a couple and had an income of 1000Euros each, then it might be doable, but you'd be scraping by.
Thank you for sharing your info. If you come to Thailand and Cambodia, please don't forget to visit a tiny laid-back country "Laos" one of the most beautiful landscapes in Southeast Asia, much more affordable cost of living & less crowded.
....also a Military dictatiorship with No health Care system.
Planning to retire to Monaco on Social Security. Going to lease a suite at Hotel Monte Carlo. They have the biggest casino. You can get most of your meals thru room service. So, that's the plan.
Albania was a suprising nice place to visit. And all of those coffee shops in Tirana
Thanks for the informative video. I was surprised to see Albania on your “consider” list. Having visited Albania and over forty other countries, I would consider Albania to be a developing country with a challenging language and a wildly varying culture. We found truly wonderful, warm, and helpful people during our stay but often strong distrust and even distaste for foreigners. We were nakedly charged 10x local prices, had rocks thrown at our vehicle twice while driving through a town (German plates), which caused $1,000 in damage, and were occasionally completely ignored in service interactions. If you have a sense of adventure and put in the effort, I’m sure you can make it work but I would take Ecuador or Peru well before considering Albania.
We’ve been in Albania for over 2 months. Mostly in Tirana. It feels very similar to Ecuador in our opinion. The service isn’t great whether you’re a foreigner or not. It’s the downside of a non-tipping culture. And gringo pricing can happen. Outside Tirana it’s much more like you described.
So glad to hear you are enjoying Tirana! I hadn’t realized that’s where you were lately (sorry if I missed that 😊). Your information on Albania is much more up to date than mine and I trust your judgement so I’ll have to give it another go. We spent most of our time in Berat and Gjirokaster a few years ago but not Tirana so happy things seem much better there. BTW - loved your video on Andalucia as we just came through Sevilla, Cordoba, Granada, and Ronda in the last 10 days. Thanks for all the great content and perspectives!
I have two big problems with most of these countries.
First are the temperatures (and humidity) in most of these countries.
My second issue is how difficult it is to learn the languages that are commonly used in each country.. Spanish is relatively easy, but when you get to Thai (a tonal language) it's way above my abilities.
I've been living in Chiangmai Thailand for 8 years now and do not speak Thai. It's not a problem 👌. Also, Chiangmai is pretty low humidity most of the year and 6 or 7 months it's not hot. If you live in a tropical country, there's no heat bill. I'm from KCMO, and summers here aren't as bad as the Midwest summers. I LOVE ❤️ THAILAND 🇹🇭
No need to speak Thai if you move to the expat havens. You will find English speakers everywhere in those places. Not high level speakers usually but good enough. Websites for everything you need will have English versions.
Countries often have cooler weather areas. Philippines has Baguio. Malaysia has highlands. Mexico has the mild weather colonial interior.
Boquete, Volcan, Cerra Punta in Panama are much cooler since they are in the Volcan Baru.
@DavidWilliams-qr5yj I've been going to Chiang Mai for 2-3 months during USA winter months for 20 years. The Major problem is the smoky season now extends for December through March with the aqi frequently in the unhealthy zone. I got rid of my stuff and won't go back. If you look at the NASA fire maps you'll see it's a regional problem unlikely to be solved in my lifetime.
@LawrenceStevens01 yea yea yea ,we travel during March and April. For 8 years we enjoy living there. My Thai inlaws are in their 80's and healthy. My Brother a non smoker is dieing of lung cancer living all his life inKCMO He is 71 years. Sorry you don't like Chiangmai but thousands of us do. And we understand your concerns. Also see lots of smokers and lots of Obesity complaining about smoky air. So to each his own. We own 4 condos and 2 houses for rent. As real estate investors and our properties are occupied all year long.
Thailand has introduced a new tax law directed at foreigners, which is driving foreigners out, and I know many of them are moving to nearby Cambodia, Laos, Vietnam, Bali.
Thank you for clarifying these misleading lists! Great job ! Love the cute new hairstyle too Amelia!!!!
Peru has changed their tourist visa, now if you're from North America you MIGHT get 180 days visa free, or not. It's up to the immigration officer. Also, if you DO stay for 180 days, you're considered a resident for tax purposes---and you have to leave for the next 180 days. But Miraflores and Barranco are very nice and you should hang out there, plus the food is great! You just can't border hop there no mo.
It's really a shame, between Ecuador and Peru, the cartels and gangs causing so much trouble, and the Visas and tax issues are never cut and dry.
@@marcd1981Yes. I sure hope some positive changes are in sight for these two countries - especially Ecuador which definitely is and, always was, my number one....
Hope is green 💚💚💚
@@Jetmab04I would have loved to retire in Ecuador. I had plans originally from back in the 1990's that I was going to retire there. Unfortunately, life didn't go well and I figured Ecuador was off.
marcd, I live in Peru and there is ZERO cartels causing troubles here. You are confusing Peru with Colombia . Peru has drug zones but so far from civilization, Very deep in the jungle. No cartels shooting each other in cities as in Mexico, Ecuador or Colombia.
Philippines: You can renew the Tourist Visa, multiple times for 60 Days, for a total stay of Three years. I'm headed over Cebu City [IT or Business Park Area] in October or November for a Six to Eight Month post-Retirement Vacation. The Retirement Visa with a $10k USD Deposit towards a Condo does appeal to me.
Panama gets my vote. I went there on a tour and loved it.
It's extremely hot, unbearable
Touring is one thing, living there is quite another. My wife and I had plans to retire in Panama, and had a week long tour planned last year. However, after the latest changes in Panama, we have changed our minds.
The biggest issue we see is the drought conditions there. The canal has been running at about 1/3 capacity as the fresh water lake used ti fill the locks is drying up. This means drinking water for the country is drying up as well. There is also a lot of political turmoil right now, and we were getting worried about the cartels moving their drugs through Central America right now. Costa Rica has had problems with this already, and Ecuador (our #2 choice to retire) has been devastated by the cartels infiltrating government positions, and the coastal cities have become deadly at the ports.
@@lb9007There are areas in the mountains that are very cool. Cerra Punta average temp is 65 in the daytime.
@@marcd1981 Things in Ecuador are improving very quickly, it was more dangerous a few years ago when the previous government didn't do anything, the new government has imprisoned over 7,000 gang members and is taking corrupt officials either directly to jail, court or finding them with the Interpol. If the country was not on fire and people were able to lead normal lives back then, it is much better today. News in English about Ecuador are either old, are using outdated information, are very sensationalized or plain wrong. I am more worried about living in the US where kids can get shot in schools anywhere in the country, which would be extremely unusual in Ecuador, US news makes it seem like everywhere is dangerous when many cities here are worse than anywhere else in the world (San Francisco tent cities😢) doesn't even compare.
@@LiMuBaiThank you for your reply. I understand there have been changes made with the new president, but I think it will take more time to know how new policies are working. And no one knows if Noboa will be president in a year and a half, as that is when the next election will be.
I've been to nearly all these countries. Albania I have not and it's the most interesting to me now. As they keep on expanding the BS Schengen zone, this is a good place to see as they will probably close the gap there at some point between Croatia and Greece.
@@User12345fan
I was considering Albania, but heard there are many homeless dogs, I am concerned that would be a deal breaker for me
@@susannbasta2972 Yes, many homeless dogs all over Albania - you hear them every night; are always hungry. sad scene.
@moa3810 😢😢😢
We have a couple people working here from Europe. They both say avoid Albania. Also, I hear the health care system there it not very good.
I live in the Philippines as a 35 year old who works remotely in cybersecurity. I think the issue with all these “can you retire on $1,000 a month” videos is that many people don’t actually break it all down. $1,000 a month in most places isn’t really “living”… it’s “surviving”. Oftentimes you’re living in a small space with a much lower quality of life than in the west. People are here living in the province, in a house that isn’t even sealed, eating low quality food… basically doing nothing all day… Then they say “you can live in the Philippines for less than $1,000 a month”… Or you’ll have expats say they’re “living like kings”… But don’t mention that they’re in a 30 sqm condo. Kings aren’t living in places like that. Also, healthcare here is pretty bad. There are a handful of private hospitals, mostly in the metro Manila area, that are pretty good. Not cheap though. My wife gave birth at the Medical City Ortigas and we paid $6,700 out of pocket. Not terrible, but a bit more than I would have paid in the US with my insurance.
As for the 3 year tourist visa… Yes, this is common. You get a 30 day tourist visa. You do an initial extension for 30 days. You’re then allowed to extend another 60 days. From there, you can extend for 6 months at a time… Up to a maximum of 3 years without leaving the country. You leave, you start this process over. Really, this is just a way to get money from expats, but hey, just like everything in the Philippines, money can get you anything… even up to a 3 year continuous stay
I totally agree with you. Now if you are an expat working remotely, earning a US salary with no debt at home, and living in a country like mine, Nicaragua, you would live like a king. With a $1,000, I'd be scrapping by.
Yes, so many of those lists are bogus. What a great video, educating people about things to consider.
Can't wait to hear your reports on these countries when you visit. I've got my eye on the Philippines! Thank you thank you thank you for your awesome videos.
Thank you. Great info. No long dead ends.
I got my permanent resident visa in October 2023. I had to show an overall savings and investments of $310,000 CAD total. I believe it's up $100k from that for 2024. You can get a temp. res. visa that is much much cheaper and you have to renew after 1 year and you can renew for 4 years and get your perm. res. visa after that without the bigger number savings income requirements. I just got back from Mexico and it was 40-50% more expensive than it was just 4 years ago. I don't know if I can retire there until I start collecting CPP and OAS.
I always scroll past any video regarding retiring for less than $1K. Thanks you for proving legit information.
BTW, Thailand is amazing. I have been there multiple times and I never get tired of it. The north is my favorite area, but the south is where some of the most amazing beaches are.
Good information in the video. Finally glad to see other countries such as Philippines, Cambodia and Albania included. Looking forward to your visits in those countries. Countries change their visa requirements so often that the slow travel is starting to make sense. They should stabilize retirement visas.
I watched the slow travel video. Hope to see more videos about slow travel.
More to come!
@@AmeliaAndJP I'm excited to hear you have plans to travel to the Philippines in the future. A number of people have given you the correct information on a tourist visa being extendable for up to 3 years without leaving the country. My wife ( a former Filipino citizen) and I were given what is commonly called a Balikbayan visa which is good for 1 year when we visited last September and there are several variations as you mentioned on a retirement visa also worth considering. The real purpose of my comment, however, is to predict that you will be quite impressed with the friendliness and kindness of the Philippine people on your visit- I have never had a greater experience than I had spending time with them. I hope you have a great time on your visit.
Thanks for debunking this list. Like so many, the writer didn't do a thorough research job.
Absolutely right about the importance of easy and long visas. I lived for years abroad and the whole hassle of visas, the capriciousness of those deciding your future, it’s too stressful. Glad I had Irish grandparents, wink, wink. Makes Europe, even the UK the place to look.
Thank you for sharing your experiences, and your honest opinions.
Thank you for the video, Amelia and JP. I have seen several places to retire lists that have Vietnam on them, but never checked into it. That is very strange it seems to be so highly recommended when there is no retirement Visa there.
It is confusing.
Your show is great as always. I'm very happy you brought up Panama. Logistically that has a lot of advantages for people from the US as well.
You guys did a GREAT job! Succinct and accurate info, well done! I live in Portugal and I think you were spot on. Obrigada!
Really great and informative video, thanks so much for sharing!!
I love Cambodia and Thailand. They are so similar, but Cambodia is less overcrowded and has its own culture.
Another good video! :)
I am PROUD to be Peruvian and will be returning to my country to retire. I miss the beaches food culture and my relatives/ I should never have left my country.
Amelia and JP , have you done a video on the current situation in Ecuador and do you have any plans in going back?
I planned to live in Thailand for 1-2 years until I could start pulling Social Security, but instead I went there for 2 months (early 2022) and then continued traveling around the world. I then went back to work for 1.5 years & now have retired for good. You can really live in Chiang Mai, Thailand (I think in Chiang Rai too) for $1000 a month (or even less) and have quite a nice life. After 1 month on the auto entry visa, I went to the visa office and easily got it extended. If I decide to go back there longer term, I wouldn't mind a bit taking a quick, cheap flight to Siem Reap, Kuala Lumpur, etc. for a short visit every couple of months.
I do not usually comment on your wonderful videos, but I must recommend this one. Love the flow and specific facts you provide. I am looking at Manila, Philippines as a base of operations for retirement. From there the world of opportunities in Thailand, Cambodia, Malaysia, Indonesia and Vietnam open up. Great work and best to you both.
Thanks! Glad you enjoyed it!
Albania and Serbia you can get residents if you buy reale state
have you ever considered Argentina? We were there a little more than a year ago and loved it. The cost of living was extremely low and the people were really nice. they have a variety of visas, including the digital nomad and I believe a pensionado visa. The cost of living for them is really high right now due to the devaluation of their peso, but for us, it makes the cost of living less due to the strength of the dollar. More Americans coming down there, even for tourism, would help these people a lot.
You should consider Colombia ......and Taiwan........great place to live
Very for 1000$
Thank you for another great video. But why Ecuador is no longer on your list? You made quite a few videos showing the cost of living there in the past, and 2 people can live well in Ecuador on 2K per month.
The retirement visa income requirement is currently $1380/mo and expected to increase again next year. We only included countries that required $1K or less for the retiree visa because that was the premise of the original article.
Thousands of expats live in the Philippines on the tourist visa that you can keep extending legally up to 3 years. I'm on a Facebook group for PH expats and I hear daily stories of people doing that. They don't call it 3 year tourist visa, but effectively it is since you do not need to leave the country for up to 3 years by doing these 30 to 60 day extensions (for a fee).
The amount you need for a visa in Mexico varies from consulate to consulate. In Raleigh, NC for 2024 it’s $2,200. Other consulates go up to $4,500. Odd but true.
I believe Raleigh is up to $3100 now. 😮
Helpful video - with regard to the Philippines, I believe you can simply continue to extend your tourist visa up until you've been there three years. At that point you much leave but you can come back after as little as one day and reset the clock.
I enjoyed your Albania video. New subscriber. Liked both videos. Thank you for them.
Awesome, thank you! Welcome!
The Philippines you can keep extending the tourist visa up to 3 years you can’t get 3 years all at once. After 3 years you have to leave and then you can come back and start it all over again.
So timely and pertinent. Thank you!
Thailand is definitely yes on 1000 a month Vietnam will be extending to 90 days that is the rumor but still you have to get a visa to go to Vietnam. The food in both is excellent Cambodia imports a good amount of produce from both countries Malaysia also imports a lot of its food from Thailand .Food is a lot more affordable and better quality everywhere in Southeast Asia. Like you said about Malaysia Sabah and Sarawak is easier and cheaper then mainland Malaysia to get the visa they give you a special visa to go there last time I went before covid.
Thanks. It would be great to hear your thoughts on safety as well.
Was in Peru for two weeks in Feb and I think it would be tuff to live there for less than $2k a month for two people. Food is not as cheap as they tell you you on the internet.
what city?
Peru not as cheap as it once was.
Food in Peru is one of the cheapest in Latin America. A full meal cost 10 to 12 soles = $2.5 to $3.24 in a middle class district as Magdalena del Mar.
agreed 👍 u.s. news n' world report got it all wrong! ... pretty happy w/ your updated list!
Philippines isn't a 3 year visa, it is that you can do those extension for up to 36 months. First is 30 days, first extension can be 60 days after that I'm not sure how often you go. Either way this is an extra cost as well as your time for every extension application.
I'm living in the Philippines on the SRRV Classic Visa. I am looking forward to your visit and the following videos. If you have any questions, look me up!
For the Philippines, you can extend your tourist visa for a total of 36 months at $80/month.
Great post! Thanks 😊
My understanding is that Sarawak Malaysia in addition to the requirements for long term visa you listed also has a requirement for a Fixed Bank Deposit; 150,000 MYR for individuals or 300,000 MYR for couples.
I watched yours and others youtube's. I planned to move to Morelia, but found out I can't afford to get in! The numbers just went up.
I'd like to talk About the $23000 deposit for a Thailand Visa. Actually, it's an 800000 Thailand bhat deposit. Everyone needs to have an emergency fund. And holding $23000 in a Thailand bank.Where I am living is what I call a decent emergency fund. So if you don't have that much money to deposit in a bank, you're probably SOL anyway. 🙃 I've lived here in Thailand retired for 8 years now and I love it. You can have your social security check. Depos it in your American bank and have it transferred by wise. Or you can have your social security. Check directly deposited into your Thailand bank account. I continue to watch where to retire cheap videos and I still Recommend Thailand as number one.
@@dm285 Agree. This video three weeks ago form Forrest Lee is very insightful: Are Expats in Trouble with Thailand's New Tax Laws?
@@dm285Retirees in Thailand live here long term by getting a yearly extension of stay. You can do this indefinitely. You must be over 50 years old. The extension costs 1,900 baht ($53). The financial requirements are 800,000 baht deposited into a Thai bank. After a couple of years you can switch to the monthly income method of 65,000/mo ($1,814). A great many expats use visa agents to get around the financial requirement. It sounds a little dodgy but it is practically encouraged by immigration in some offices.
If you are relatively wealthy there are long term visa options. I am on a 10 year pensioner Long Term Resident visa (LTR). The visa costs 50,000 baht ($1,400 for 10 years). It does require a passive income of $80,000/year.
@dm285 I don't know how to respond to you tube gossip. LOTS of miss information out there on Thailand tax law. First... Social Security, IRSs 401Ks any qualified accountant is tax free and if you live in Thailand and withdraw from these accounts you pay NO American Tax and NO tax in Thailand. Did you know that??? Of course you didn't 🙄
The facts are most normal folks will not owe any tax. I meet with my Thai tax professionals in 2 weeks.After I return from a European vacation. The Forest Lee guy is just another utuber making content. My American tax prepair tells me ,he doesn't think most expats will pay anything. Lots of gossip, but I'm relaxed with actual professionals I talk to,not you tube content makes . Best of luck ,time will tell. Obtw this new tax interpretation is Aimed at Thai pepole making money outside of Thailand, putting it in savings for one year then transferring it into Thailand tax free. They are not looking at expats specifically for taxes. GOOD LUCK WITH YOUR GOSSIP, but for me Thailand is still a great retirement location.
I'd be careful listening to gossip about the tax laws consult a professional. My professional tax preparer in Bangkok doesn't agree with this gossip going around you tube. Obtw 401K ,IRA, and social security are not taxable by Thailand because of the USA Thai tax treaty. Withdrawals from my Ira are free of US tax as well. But most expats don't know this because American tax Preparers can't advise you they know nothing about Thai tax law . So far I've saved $100,000 in USA taxes living and withdrawing IRA money in Thailand.
From what I heard about Vietnam I don't think you can rely on coming and going to reset tourist visa. And they do provide working visa like if you are an English teacher hired by school
We live in Bulgaria on $1200 per month for three people, however we do own a property and car. We bought our house for $1200. It was in a livable condition but very "rustic."
What about Croatia for retirement on $1000/month? It is very affordable, and Belgrade is a wonderful city. Maybe check it out and do a video on what you find on Croatia? I value your analysis!
Croatia doesn’t offer retirement or investor visas so it’s not easy to get residency unless you are a digital nomad or want to start a business.
There are several channels that are gung-ho about Paraguay. Any thoughts on that country?
Vietnam is awesome but also one of the most difficult countries to deal with in SEA. Even getting into China is less of a hassle. Marrying a local is the only way I know of to get a multi reentry visa. Cambodia is the spot to stay because you can visit Thailand and Vietnam easily.
Most people I know that want to obtain a visa for Mexico use the "Financial Solvency" avenue rather than monthly income (approximately US$4,350 per month which I think is steep). The financial solvency requirement is about US$73,500 that you have to show on 12 months of financial statements, this can be in a retirement account or whatever and we used our retirement accounts for our visa.
While the 180 day tourist visa wasn't automatic for a period, maybe a year or so, that seems to have gone by the wayside and they are, at least for now, back to giving the 180 days again. Given that, another thing I've seen people do is sell their house up north (you are moving anyway) deposit or invest that money, rent a place in Mexico while on a 180 day tourist visa with a visit back north for a short period to renew the 180 days and after a year you can meet the financial solvency requirement.
That said, I have to agree that living in Mexico on US$1,000 would be tough for most expats. It might be possible if you live like a local in a rural area but most people from the US or Canada don't want to live that way. Despite it's reputation Mexico is not cheap cheap cheap. A little more reasonable perhaps but you won't be going from pauper to prince by moving to Mexico. Either way I think if you move anywhere "just for the money" you will be disappointed. Move because you want a whole different living experience and if it turns out to be a bit less expensive then all the better.
Good info. Thanks for sharing. The automatic 6 month tourist visa is still not guaranteed. We only got 30 days when we went last year and heard from someone else who only got 2 weeks.
@@AmeliaAndJP The less than 180 days was happening for a period in Mexico but like I said they seemed to have returned to the 180 days as the usual practice. You are right though, it's not guaranteed and I don't think it ever was.
Best Honest Video!
You can stay in the Philippines for 3 years. There isn't a single visa, you are allowed to renew your visa for a total of 3 years. After several renewals, you can get a 6 month visas until you reach the 3 year max. Leave for 24 hours return and start over again. However, safety is becoming an issue as NPA aka New People's Army is causing issues in many parts. Healthcare is horrible and food selection at supermarkets is inconsistent, at times spoiled and terrible unhealthy selections.
It would be great if you mentioned rent amounts
Aren’t Mexico, Peru and now The Philippines dangerous places?
I'm glad you included Peru. I have been living in Lima for the past couple of years on a retirement (rentista) visa. I love Peru
And the food is amazing
Hi Patricia, is Peru fairly safe? Also are rents affordable? I’d love love to know some more info if you have time 🤞✌️Enjoy 🙏
@@SlackHoffman Hi. Yes…I feel safe living in Peru. My name is Pat and I’m a white male, 61, retired US military. I spend most of my time in a barrio of Lima, Peru called Lince. Lima, Peru is a big city and has some big city crime. But I feel safe. However, I don’t wear a Rolex watch or flaunt money.
There are a lot of low income people throughout the area (the GDP of Peru is roughly 7K while the USA is 70K). Like everywhere, there are thieves that will take advantage of the ill prepared.
Most people, when they think of Peru, think of two things…Lima and Machu Picchu! Well, there is a lot in between. The thousands of villages that dot the Andes are magical and I spend a lot of time in the mountains (the weather is better in the mountains-the coast in Peru is foggy-ala San Francisco, CA).
Another element of safety is government stability. I have confidence in their democracy and have no fear of the government or police. While they did have a coup d'etat last year, they handled it swiftly and professionally. Hospitals and airports are modern. I hope this helps.
Also, the rentista visa process was fairly easy. I did it myself without a lawyer
@@SlackHoffmanPlease see another comment for this video about the recent change to the Visa situation in Peru. I have been to Ecuador many times, but only for a couple of weeks at a time, never on a Visa. Unfortunately there are several issues with the area that have my wife and I thinking of other areas to retire.
How you get retirement visa in peru from usa
Philippines does not have a 3 year Visa. You can extend your Tourist Visa every 2 months ( some immigration offices will go 6 mo at a time) then after you have been in the country 3 yrs , you must leave for 24 hrs. Then you come back you will start all over again. The SSRV Visa requires a $10,000.00 Deposit in a Philippine Bank Account, However, If you are a Military Veteran the requirement is only $2,500.00 . I hope this helps. I really enjoy your Vlog, Keep up the great work.
Very well made good video.
Thanks.
What about Equador your former home
Yes this is useful advice - too many influencers just look at the cost of living, which means nothing if you can't get a visa to live there
The UK, Cheaper than you expect but very hard to get the essential residence permit.
There is a lot more than London in the UK. In South-West Essex only 25 miles from central London you can rent a 1 bed flat for less than £55 a month.
@@MENSA.lady2 Maybe in 1950.
Apologies my pudgy fingers I meant £550 per month.
Lucky for us my wife was born in Mexico. Once we got all the paperwork together it was a fairly easy process for me to become a temporary resident for 2 years and then extend for 2 years to become a citizen.
south africa cape town area is spectacular.dollar is strong versus the rand making it a bargain destination.
As the one soul wrote, why limit your retirement to one locale? Viet Nam is 90 day e-visa and so Da Nang (but never during monsoon season) for 90 days. Then off to BKK to get to Hua Hin, 60 days visa exempt then extend that for 30 days. Then back to Viet Nam, this time to Nha Trang (90 days). Then back to BKK to get to Cha-am (another 60 + 30). Then depending on the calendar, not a yearly thing, but 30 days in either Cambodia or Laos, and that because Thailand limits the visa exempt entries to 2x/yr.
Re the combo method for Thailand, does not matter what is written as each immigration office does its own thing (some allow and some do not). Thailand also has the O-A visa which requires health insurance and the talk still is that they are going to revise their visa scheme, with a lesser number of visas, so perhaps the health insurance requirement becomes mandatory for all long term stays (wouldn't that be a hoot).
Lastly, beyond the visa, and here consider Viet Nam, what is one going to do when there's no banking access? At least in Thailand, if worst comes to worst, just as some pay an agent to "solve" their visa conundrum, one can also pay an agent to obtain a Thai bank account (which one can then use in Viet Nam and also to transfer funds from one's US account(s))(since heaven forbid that Charles Schwab finds out that one is no longer living in the US).
Panama reteiries VISA 1500 dollars a month for 1 persone. I did it. Portugal very high taxes, impossible rents and crime increasing a lot.
The phantom 3 year Philippines tourist visa is the confusion that the initial visa waiver can be extended into a tourist visa, again and again as extensions of 1, 2, or 6 months, to a maximum of 3 years without the necessity to leave the Philippines. There's no 3 year tourist visa itself.
It is true the Philippines will allow you to extend your tourists visa for up to 3 years .In Thailand an agent in will handle That 800,000 Baht deposit and you will be in a much more developed country for less money.
Philippines just a tad too sweaty for me...I like Portugal, but my income minus SS is $38k Plus with its $75K plus...
Thanks guys
WITH THE DECLINE IN VALUE OF THE U.S. DOLLAR, Panama sure looks like a good option for us. We have family in next door Costa Rica, and you can easily scoot across the border for short visits. The US dollar is accepted in Panama on a 1 to 1 basis versus their own currency (Balboa), so at least you don't have the exchange rate problem to deal with.
You look healthy and fabulous.
Thanks! 😊
Thanks guys! I would Love to see info on living in Peru, Panama, and the Philippines. Info also like - What are the flights like to get to these places and back to Canada or the US?What about Ecuador? Last time I checked (pre-pandemic) the visa residency requirement was only $400 a month, but, they make you jump through Lots of hoops and you cannot leave the country for a Single Day for TWO years or you will lose the visa. So I'd like to know - in addition to the monthly income requirement, what else is required for the visas and what is the timeline to get one? Do you have to live in the country full time?
And what is a *realistic cost of living...not living on the down low. Medical costs, housing upkeep and taxes, pet care, buying decent furniture, local transportation...all the things that come with Actually moving somewhere.
We live in Guanajuato. I think you would be Very hard pressed to live in Mexico, anywhere, for $1000 a month. I've been to and stayed in over a dozen cities here. You would be living pretty poorly for $1000. Our grocery bill alone is genuinely almost that much per month, now with the peso at 16.5 and inflation. We own our home and have no mortgage and our monthly budget for all our local bills, this is going out to eat - every 2nd week only. And this does not include Any of our taxes, medical costs or travel costs, cost of living frugally here, is $2500 USD - for 2 people, a child to young for school, and a dog.
We're not high rollers, that could easily be much more, and would be far more if we had to pay rent. We do not have a car either.
That also does not include expenses like replacing a phone/computers every few years, buying clothes, runners etc, makeup, or adding to our savings account. With Everything including that, we are at about $7000 USD/mo to live here in Mexico (including the taxes we pay). Honesty, it's far more expensive than I ever imagined it would be.
Mexico has gotten really expensive! Thanks for sharing 👍
I live in Lima, the capital of Peru. Guanajuato is like Cajamarca in Peru but cost of living is about $500 per person. The cost you are describing above sounds pretty expensive. Mexico is becoming expensive because of so much tourism and expats from USA and Canada. Cost of living in Peru is pretty cheap because of the abundance of food, transportation and places to rent. With $7,000 per month in Peru you might live in Miraflores, Magdalena del Mar and Barranco and safe about $4k or $5k per month . . . .
At the Puerto Vallarta airport, tourists are typically given 180 days without asking.
Then I guess Albania and Cambodia are the only two for a retiree like me who only gets $1030 a month social security!
I just got it after reading your title on this video. Sorry, I misspoke.
Albania is high on my list, just waiting on the money to fly there.
I have a monthly income SS of $1600+/mo. What do you think.
I'm single and can live on very little.