How your income stacks up

[Monoriu]

He's not talking about backpacking (or rucksacking, as they say in his country).  He's talking about retiring to a low cost country.  Plenty of Americans do that right now in Central America and the Carribean.

And Cañadians in México, especially

Sure, if that's your thing.  Retirement planning is all about matching wants and means.  The formula remains the same: starting portfolio must be at least 25 times your expected annual expenditure when you retire.  Retiring to a low cost country will (probably) lower your expenditure, but it won't change the 25 times figure.  The usual problem is that people have unrealisitc expectations, but if you don't expect a lot, there won't be a problem.

[Admiral Yi]

Not an option for Mono as he must stay close to the graves of his ancestors.

[Pat]

But if they're angry with him, won't he be far away?

[DisturbedPervert]

Not an option for Mono as he must stay close to the graves of his ancestors.

He already lives in an enormous low cost country.  Just the more expensive bit of it.

[Monoriu]

Not an option for Mono as he must stay close to the graves of his ancestors.

Plenty of HKers retire to the mainland (like hundreds of thousands), where costs are lower.  It is a trade off.  Up there, you have a bigger flat, more space, cheaper food, more prestige (coz HKers are typically richer than mainlanders).  Lots of people even keep multiple wives.  The downside is the medical care in HK is better, we have less crime, and we have better amenities associated with big huge cities. 

I will retire in HK. 

[Monoriu]

Not an option for Mono as he must stay close to the graves of his ancestors.

He already lives in an enormous low cost country.  Just the more expensive bit of it.

That bit is as expensive as the biggest cities in the west.

[Pat]

Based on those trade-offs I'd certainly retire to the mainland. Surely it wouldn't be much a problem to go the short way to HK for health care and whatever amenities aren't available on the mainland? Couldn't you live like just a few hours away from HK?

[Pat]

Wasn't aware crime was a big problem in the police-state of China, I've always felt very safe when I've been to China, even as a westerner (the safest I've ever felt was in Sri Lanka during the civil war; lots of people with guns were my friends).

[Monoriu]

Based on those trade-offs I'd certainly retire to the mainland. Surely it wouldn't be much a problem to go the short way to HK for health care and whatever amenities aren't available on the mainland? Couldn't you live like just a few hours away from HK?

If expect the unexpected is your thing, sure.  If you walk around the streets, you'll sometimes see odd looking people with needles in their hands.  Those are AIDs patients, and they need expensive drugs to survive.  Since they can't get the money or the drugs, their solution is to walk around with needles and extort money from random strangers.  Otherwise they'll insert a few drops of their blood into you. 

If you have a medical emergency and go to a hospital, you'll need to pay a huge cash deposit before a doctor will look at you.

On the mainland, you don't have a clear title to your property.  It's still a communist nation, remember?  All land is owned by The People.  If one day, some developer/local government really wants your flat for a new project, good luck to you.  They may not hit your building with a missle, but don't be surprised if one day you come back and see your building surrounded by 20 metre deep trenches on all sides. 

Also no access to CNN, BBC websites etc. 

You drink tap water, right?  Don't be surprised if one day you develop symptoms of lead poisoning.  Some industrial plant 100 yards away up stream maybe pumping that shit into the river. 

I can go on.

[Pat]

Speaking of Sri Lanka and retiring to poor countries. The lankese are generally very nostalgic for the days of the empire, when they had no civil strife, and you'll find pictures of the british royal family hanging on walls, shops named after members of the british royal house etc. Many englishmen retire there (Arthur C. Clarke lived there for most of his life). Heck, I could emigrate to Sri Lanka one day, if they aren't wealthy by then (they probably will be). Marvellous country, really, and quite friendly to westerners.


Mono: Ok, that does sound bad (though I've never been extorted for money by syringe-wielding AIDS patients any of the times I've to China, nor even seen a drug addict, but I've only been to Beijing and the wall etc and maybe it's worse in other places)

[DisturbedPervert]

If expect the unexpected is your thing, sure.  If you walk around the streets, you'll sometimes see odd looking people with needles in their hands.  Those are AIDs patients, and they need expensive drugs to survive.  Since they can't get the money or the drugs, their solution is to walk around with needles and extort money from random strangers.  Otherwise they'll insert a few drops of their blood into you. 

I think I got that email forward too

[DisturbedPervert]

nor even seen a drug addict

My friend tried to score some drugs while in China.  Yes, he's an idiot.  He wanted an opium den and some of the weed he claimed grows wild along the Great Wall.  He was unsuccessful.

[Monoriu]

If expect the unexpected is your thing, sure.  If you walk around the streets, you'll sometimes see odd looking people with needles in their hands.  Those are AIDs patients, and they need expensive drugs to survive.  Since they can't get the money or the drugs, their solution is to walk around with needles and extort money from random strangers.  Otherwise they'll insert a few drops of their blood into you. 

I think I got that email forward too

No, the HK networks did extensive reporting on this. 

[Pat]

  

I know the penalty for bringing it in is death - I can only assume the pentalty for mere possession would be harsh enough 


Speaking of stupid things to do in China: Co-worker of my father, an american, got the idea of buying counterfeit CDs in China in large quantities (for re-sell). This would generally be acceptable. The Chinese, however, having been very much criticised by America for lacking respect for intellectual property, were happy to find an American, in China, committing crimes against intellectual property. So they threw him in jail and made a big deal about it.

[Monoriu]

Anyway, the point is, I do not believe it is as easy as "take some spare change, go to a low cost place and live like a king".  Low cost countries are low cost for good reasons.  There are trade offs.