Where will you retire?

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sundaymorningstaple
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Re: Where will you retire?

Post by sundaymorningstaple » Fri, 24 Sep 2021 2:02 am

Aside from a US checking account where my SS is direct deposited and 2 CCs I have already zero'd any assets in the US around 3 years ago after my mother died and I lost the farm. Literally.
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Re: Where will you retire?

Post by RobSg » Fri, 24 Sep 2021 3:55 am

This thread is very interesting as I read the comments from a little town in Washington state, about a block from BC, Canada (where I spend a lot of my time before the pandemic). I had this same conversation with friends in Singapore back in 2013 after completing my 25th year there. I had also lived and worked in 11 other countries since 1970, but Singapore was where I really wanted to make it home. It did not happen.

As a single male PR, I was told that if you got your PR through work, retirement was difficult on a PR. That uncertainty is not what you want to experience in your 70's and 80's. I sought and got the Malaysian MM2H visa with the idea that I now had 2 countries to call home, but after a year in 2013, I gave that up to return to the States after being a non-resident here for 43 years, except for vacations.

If you have family ties in Singapore, then it's home for sure. If you are single like I am, then you look for stability. I'm home now, and it's a good feeling. Since I returned here in 2013, I've spent half of the winter months in Costa Rica, Mexico (Baja and Lake Chapala), Ecuador, Tucson, Santa Fe, and this winter I will try El Paso.

I really enjoy listening to all the various reasons about where you choose to retire, and they're all great reasons. Thank you.

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Re: Where will you retire?

Post by smoulder » Fri, 24 Sep 2021 8:23 am

RobSg wrote:
Fri, 24 Sep 2021 3:55 am
This thread is very interesting as I read the comments from a little town in Washington state, about a block from BC, Canada (where I spend a lot of my time before the pandemic). I had this same conversation with friends in Singapore back in 2013 after completing my 25th year there. I had also lived and worked in 11 other countries since 1970, but Singapore was where I really wanted to make it home. It did not happen.

As a single male PR, I was told that if you got your PR through work, retirement was difficult on a PR. That uncertainty is not what you want to experience in your 70's and 80's. I sought and got the Malaysian MM2H visa with the idea that I now had 2 countries to call home, but after a year in 2013, I gave that up to return to the States after being a non-resident here for 43 years, except for vacations.

If you have family ties in Singapore, then it's home for sure. If you are single like I am, then you look for stability. I'm home now, and it's a good feeling. Since I returned here in 2013, I've spent half of the winter months in Costa Rica, Mexico (Baja and Lake Chapala), Ecuador, Tucson, Santa Fe, and this winter I will try El Paso.

I really enjoy listening to all the various reasons about where you choose to retire, and they're all great reasons. Thank you.
Very nice - good that your decision turned out to be the right one (the one that made you happy which is the most important point).

I think these are great points about stability in your 70s and 80s. I'm on a Facebook group for foreigners and retirees in Malaysia and there was this one woman looking for ways to jet in and out of various Asian countries on tourist visas for the rest of her life. I told her that it was sheer madness at a time when she should be looking for some stability. She was in her 50s and didn't seem to understand that things are likely to be quite different in a decade or two. So she persisted with her "planning".

And speaking of the Mm2h and since you spoke of it as well, you might find it interesting that some bright sparks decided that they want "rich" retirees, so they've bumped up the minimum requirements to 40k rm per month! It will affect all those who are already on the visa.

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Re: Where will you retire?

Post by malcontent » Fri, 24 Sep 2021 10:21 am

RobSg wrote:
Fri, 24 Sep 2021 3:55 am
This thread is very interesting as I read the comments from a little town in Washington state, about a block from BC, Canada (where I spend a lot of my time before the pandemic). I had this same conversation with friends in Singapore back in 2013 after completing my 25th year there. I had also lived and worked in 11 other countries since 1970, but Singapore was where I really wanted to make it home. It did not happen.

As a single male PR, I was told that if you got your PR through work, retirement was difficult on a PR. That uncertainty is not what you want to experience in your 70's and 80's. I sought and got the Malaysian MM2H visa with the idea that I now had 2 countries to call home, but after a year in 2013, I gave that up to return to the States after being a non-resident here for 43 years, except for vacations.

If you have family ties in Singapore, then it's home for sure. If you are single like I am, then you look for stability. I'm home now, and it's a good feeling. Since I returned here in 2013, I've spent half of the winter months in Costa Rica, Mexico (Baja and Lake Chapala), Ecuador, Tucson, Santa Fe, and this winter I will try El Paso.

I really enjoy listening to all the various reasons about where you choose to retire, and they're all great reasons. Thank you.
Thanks for posting! It’s one thing to dream about retiring somewhere and it’s whole different thing to actually do it. I’ve heard a lot about Lake Chapala, it’s a definitely popular destination for retirees. But for single, male retirees, I believe the Philippines is the #1 destination… by far! And within the Philippines, Dumaguete is probably the most popular - it’s not too big or small, relatively clean, college town, with a large expat community to connect with, and not too wild - best for those who are not just there to fool around.

Regarding the reliability of PR after retirement, I think that has finally been clarified in recent years. As long as you spend the majority of your time in SG (i.e. > 6 months a year) your REP will generally be renewed in your retirement years, in view of your past contributions. In fact, my in-laws were in a similar situation, no income to show and not spending enough time in SG, their REP renewal was rejected… but after appeal it was still renewed. Since Covid they have spent more time here, so there should be no risk of rejection next time.

The other thing about PR, it is permanent, even if your REP renewal is rejected - as long as you return to Singapore before it expires, your PR is still valid - giving you time to do whatever is needed to get the REP activated again (maybe after staying here 6 months, for example). The question is whether it is really worth the trouble.
It’s not what happens to you, but how you react to it that matters ~ Epictetus

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Re: Where will you retire?

Post by ProvenPracticalFlexible » Fri, 24 Sep 2021 11:56 am

smoulder wrote:
Fri, 24 Sep 2021 8:23 am
I think these are great points about stability in your 70s and 80s. I'm on a Facebook group for foreigners and retirees in Malaysia and there was this one woman looking for ways to jet in and out of various Asian countries on tourist visas for the rest of her life. I told her that it was sheer madness at a time when she should be looking for some stability. She was in her 50s and didn't seem to understand that things are likely to be quite different in a decade or two. So she persisted with her "planning".
Nothing wrong with that plan in-principle, but better have plan B for some emergency situation like Covid now. I mean not everyone need a solid home, some are ok with hotel/cruise other short term living conditions.

I know some other working age people, who ran their own business/contractor work, based around South-East Asia 1-2 months in Bali, then Bangkok, then Singapore, then KK or KL, and back to Bali. Covid made it a mess, and the couple had to get married that both could move with one's residency permits etc.

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Re: Where will you retire?

Post by malcontent » Fri, 24 Sep 2021 12:33 pm

ProvenPracticalFlexible wrote:
Fri, 24 Sep 2021 11:56 am
smoulder wrote:
Fri, 24 Sep 2021 8:23 am
I think these are great points about stability in your 70s and 80s. I'm on a Facebook group for foreigners and retirees in Malaysia and there was this one woman looking for ways to jet in and out of various Asian countries on tourist visas for the rest of her life. I told her that it was sheer madness at a time when she should be looking for some stability. She was in her 50s and didn't seem to understand that things are likely to be quite different in a decade or two. So she persisted with her "planning".
Nothing wrong with that plan in-principle, but better have plan B for some emergency situation like Covid now. I mean not everyone need a solid home, some are ok with hotel/cruise other short term living conditions.

I know some other working age people, who ran their own business/contractor work, based around South-East Asia 1-2 months in Bali, then Bangkok, then Singapore, then KK or KL, and back to Bali. Covid made it a mess, and the couple had to get married that both could move with one's residency permits etc.
I would say it depends on your health, but usually by sometime in your 80’s, you will want more stability, because that is usually the time people transition from the “go go” years of retirement to the “slow go” years (and eventually the “no go” years).

Take my parents as an example, they have just reached their mid-80’s and have permanently discontinued their annual “snow bird” migration to Florida which they had been doing for the past 3 decades. They still get around, but not as much and not as far as before. They just can’t handle the trip so well physically, and therefore can’t enjoy it as much. Because of that, they prefer the comforts of home.

But for someone in their 50’s… they have decades ahead of them, I’d say stop planning and start doing!
It’s not what happens to you, but how you react to it that matters ~ Epictetus

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Re: Where will you retire?

Post by bro75 » Fri, 24 Sep 2021 4:27 pm

For myself, I am a city guy and not really cut out for rural life. I will probably retire in a city or a suburb. I plan to retire here in SG but it depends on my daughter. I am one of those who got PR when it was easy but the privilege was not extended to my child who was rejected multiple times and is now on a student pass. If she manages to stay here and get residency or long term employment, we will probably stay here. If not, one option is to retire to my country of birth, Philippines in a suburban area.

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Re: Where will you retire?

Post by sundaymorningstaple » Fri, 24 Sep 2021 5:42 pm

RobSg wrote:
Fri, 24 Sep 2021 3:55 am
I really enjoy listening to all the various reasons about where you choose to retire, and they're all great reasons. Thank you.
Hey, Rob! Good to hear from you. Glad you are still up and kicking, covid be damned! Yeah, I've bit the bullet and with 3 grandchildren here now and my son & his wife working on having 2 more. I guess Singapore is the end of the road. (Although, I still have an open invite to FL where my sister lives - for some reason, that no longer interests me. LOL
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Re: Where will you retire?

Post by malcontent » Fri, 24 Sep 2021 7:18 pm

bro75 wrote:
Fri, 24 Sep 2021 4:27 pm
For myself, I am a city guy and not really cut out for rural life. I will probably retire in a city or a suburb. I plan to retire here in SG but it depends on my daughter. I am one of those who got PR when it was easy but the privilege was not extended to my child who was rejected multiple times and is now on a student pass. If she manages to stay here and get residency or long term employment, we will probably stay here. If not, one option is to retire to my country of birth, Philippines in a suburban area.
The Philippines has several good urban and suburban options, but if you want to live in a clean, well organized urban place like Singapore, BGC is probably your best bet.

For your daughter I think it would be better for her to work in a western country once she graduates, at least to get experience. Singapore is a better place for those who already have good experience under their belt.

Our daughter was also rejected when we first applied for her PR under her mother’s PR. We appealed and managed to get it approved. That was just in time for her primary school enrollment (back when PR had actual value).

My brother married a Filipina just a few years ago, brought her to the states — she now works at Pfizer and is making good money.
It’s not what happens to you, but how you react to it that matters ~ Epictetus

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Re: Where will you retire?

Post by Lisafuller » Sat, 25 Sep 2021 1:31 am

ProvenPracticalFlexible wrote:
Thu, 23 Sep 2021 10:16 am
Lisafuller wrote:
Thu, 23 Sep 2021 1:46 am
ProvenPracticalFlexible wrote:
Wed, 22 Sep 2021 12:14 pm

Be prepared that after 4-5 years, depending on your age too if course, you might wanna move back.

Got a colleague who is just in that situation, he's younger one just started college this year. They've been back to US 4+ years now, after 12 years in Asia. He's 50+ but now he's looking to get back to Singapore.
Why would they want to do that? The only reason I could see somewhat picking Asia over the states for retirement is to enjoy a lower cost of living but Singapore is an anomaly, and is much more expensive than nearly every part of the US.
US cities, where the well paid IT jobs are, are equally if not more expensive than Singapore.

But that's not really the reason I think. I would probably use the term reverse culture shock here too. After more than a decade here, US might not feel the same that it was before. and if they enjoyed life here with the travel options and life style. Plus old friends might have moved on, so going back to US is not the same as it was when they left. Note also that he's not planning to retire yet but to work another 10 years or so, until over 60.

For fulltime retirement of course US does have Florida and Margaritaville :D .
Fair enough, after too long of being in Asia, the US may not feel as much like home anymore, I see your point.

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Re: Where will you retire?

Post by Lisafuller » Sat, 25 Sep 2021 1:32 am

sundaymorningstaple wrote:
Fri, 24 Sep 2021 5:42 pm
RobSg wrote:
Fri, 24 Sep 2021 3:55 am
I really enjoy listening to all the various reasons about where you choose to retire, and they're all great reasons. Thank you.
Hey, Rob! Good to hear from you. Glad you are still up and kicking, covid be damned! Yeah, I've bit the bullet and with 3 grandchildren here now and my son & his wife working on having 2 more. I guess Singapore is the end of the road. (Although, I still have an open invite to FL where my sister lives - for some reason, that no longer interests me. LOL
Which part of FL? I feel like you’ve said Tampa but I could be mistaken.

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Re: Where will you retire?

Post by Lisafuller » Sat, 25 Sep 2021 1:34 am

bro75 wrote:
Fri, 24 Sep 2021 4:27 pm
For myself, I am a city guy and not really cut out for rural life. I will probably retire in a city or a suburb. I plan to retire here in SG but it depends on my daughter. I am one of those who got PR when it was easy but the privilege was not extended to my child who was rejected multiple times and is now on a student pass. If she manages to stay here and get residency or long term employment, we will probably stay here. If not, one option is to retire to my country of birth, Philippines in a suburban area.
Same here, I’ve become accustomed to the many luxuries of city life and think farm/rural life will be quite a painful transition. Which area in the Philippines do you have in mind? I’ve heard pretty nice things about Makati, although from what I understand its got a pretty fast pace of life so perhaps not ideal for retirement where you would want to slow down a bit.

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Re: Where will you retire?

Post by Lisafuller » Sat, 25 Sep 2021 1:36 am

malcontent wrote:
Fri, 24 Sep 2021 12:33 pm
ProvenPracticalFlexible wrote:
Fri, 24 Sep 2021 11:56 am
smoulder wrote:
Fri, 24 Sep 2021 8:23 am
I think these are great points about stability in your 70s and 80s. I'm on a Facebook group for foreigners and retirees in Malaysia and there was this one woman looking for ways to jet in and out of various Asian countries on tourist visas for the rest of her life. I told her that it was sheer madness at a time when she should be looking for some stability. She was in her 50s and didn't seem to understand that things are likely to be quite different in a decade or two. So she persisted with her "planning".
Nothing wrong with that plan in-principle, but better have plan B for some emergency situation like Covid now. I mean not everyone need a solid home, some are ok with hotel/cruise other short term living conditions.

I know some other working age people, who ran their own business/contractor work, based around South-East Asia 1-2 months in Bali, then Bangkok, then Singapore, then KK or KL, and back to Bali. Covid made it a mess, and the couple had to get married that both could move with one's residency permits etc.
I would say it depends on your health, but usually by sometime in your 80’s, you will want more stability, because that is usually the time people transition from the “go go” years of retirement to the “slow go” years (and eventually the “no go” years).

Take my parents as an example, they have just reached their mid-80’s and have permanently discontinued their annual “snow bird” migration to Florida which they had been doing for the past 3 decades. They still get around, but not as much and not as far as before. They just can’t handle the trip so well physically, and therefore can’t enjoy it as much. Because of that, they prefer the comforts of home.

But for someone in their 50’s… they have decades ahead of them, I’d say stop planning and start doing!
Well put. The elder members of the extended family (mid 80s) have also stopped doing their annual winter trip to Miami since COVID hit. They say they’re getting too old for the trouble, which I think they have a point. At a certain age, the trip becomes too much of a hassle and it becomes more attractive to stay at home and just turn the heat up.

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Re: Where will you retire?

Post by Lisafuller » Sat, 25 Sep 2021 1:42 am

smoulder wrote:
Thu, 23 Sep 2021 2:09 pm
Food, groceries and buying a property are cheaper in most parts of the US from what I can see. Now healthcare - I'm not sure how that goes - I think for a retiree, that might possibly tip the balance.
What I’ve noticed about the US is that big ticket items such as cars and houses are typically much cheaper there. Food tends to be cheaper here (hawker food)- it would be difficult to get a meal for $3 SGD there, you’d have to pay tax and tip on top of the already higher food prices. Healthcare tends to be much more affordable here, thanks to the myriad of government subsidies.

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Re: Where will you retire?

Post by Lisafuller » Sat, 25 Sep 2021 2:05 am

malcontent wrote:
Thu, 23 Sep 2021 1:14 pm
I’ve yet to be convinced that any whole city the US is comprehensively more expensive than Singapore on a true like for like basis. Housing is typically going to be your largest expense.

NYC is probably the closest, but you really need to zoom in on Manhattan specifically (which, to be fair, can really only be compared to the CCR in Singapore).

Here is a snippet from https://streeteasy.com/blog/price-per-s ... yc-trends/

The median price in 2019 for a square foot of apartment space in Manhattan was $1,319 — 46% above the citywide median. That makes it NYC’s most expensive borough, and, as New Yorkers know, a place where many apartments are comparatively tiny. But it’s still possible to stay in Manhattan and get a roomier home for a far lower price.

In Washington Heights, Manhattan’s most affordable neighborhood by price per square foot, $700K could theoretically get you a roomy 1,074-square-foot home. Statistically speaking, that’s three times more space than you’d get for the same amount of money in SoHo, the city’s most expensive neighborhood, where the median price per square foot is $2,023.
True, any specific American neighborhood could be more expensive to live in than Singapore. My point is that with 50 states to choose from, you’re bound to be able to settle in one where the cost of living is much lower but the quality of life is the same if not higher. How many retirees actually choose to retire in dense, fast paced cities like New York?

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