As the global economy becomes more globalized and borders start to become less and less strict, the number of people who want to work and live in places other than their home country is also increasing.
One popular option for people who have already passed their regular working age, is to consider retiring in another country.
There can be many advantages of this, including lowers costs or living, lower taxes, better living standards, and cheaper regular items.
Along with this, some places even have special benefits for retirees and aged people, which also adds to the range of benefits.
Retirement planning in Vietnam by GlobalEye Vietnam takes a look at the country, and how it provides a great option for people who are looking for the best place to live.
Cost Of Living
Vietnam is one of the best places in the world to retire because of several factors. This includes the weather, medical care, benefits, and the overall cost of living.
Many estimates that calculate the cost of living suggest that people can live a very comfortable life of retirement in Vietnam for about $1000 per month.
So assuming for example that your retirement account has $200,000 in it, if you spend $1000 per month, your pot could last you about 16 years.
Of course this assumes that your expenses will stay the same and the cost of living will not rise, but it is a helpful estimate.
Where To Find Accommodation
When thinking about retiring, one of the most important decisions is going to be about where you want to live.
In this sense, some of the most important questions are:
- How close do you want the place to be to the city center?
- How far do you want the place to be from noisy roads and stations
- How much greenery do you want surrounding your place
- Do you want easy access to train stations, museums, and markets?
As a developing country, construction of nice apartments in Vietnam is continuing at a fast pace. The big complexes have all the good facilities you can think of, like gym, laundry, and pool.
Transport And Basic Expenses
In general, the prices of basic necessities, such as transport, food, clothing and groceries are lower in small cities, while Ho Chi Minh city will be expensive for all of these items.
The main comparison is with highly developed countries, and estimates suggest that the prices of the basic items such as apartment rents, groceries, and restaurants are more than 50% lower.