Personal Finance

Are you considering a retirement in a third world country?

  • Last Updated:
  • Dec 6th, 2018 10:20 pm
Deal Addict
Jun 18, 2007
1085 posts
18 upvotes
What are you even talking about?
My parents are from South Asia and I was born and raised in Canada. It’s not at all relevant to my thoughts on the topic.

Things can change and usually do. Why and in what ways, who knows, but worse is definitely a potential scenario.
Deal Addict
User avatar
Nov 10, 2015
1875 posts
612 upvotes
Monte Creek, BC
Eaglesfan99 wrote:
Oct 28th, 2018 8:18 pm
Ive heard very good things about west Mexico.. which location do you go to?? How much is a condo near the beach there? In a safe place?

I am far away from retiring (20 yrs) but would love to buy a condo that I can vacation in and rent out when I don’t use
We've been to Puerto Vallarta, Melaque/Barra de Navidad, and Manzanillo.
Pros and cons for all of them.
Cost? The sky is the limit, especially in PV.
Last winter we were in Manzanillo, right on the beach for about $2,000/mo.
This winter we'll be at a condo (half a house) in Barra for $1100 Cdn per month. About two or three blocks from the beach.
Diversity is Our Burden
Newbie
Feb 19, 2016
46 posts
274 upvotes
I'm in the Philippines now. I've been coming here since 2012 when I retired at age 40. I usually spend Canadian autumn and winter here and spring and summer in my condo in the Vancouver area. I bought it very cheap in 2002, paid off my mortgage in 2010 and got a HELOC in 2011 so live off that mostly. I also sell resell thrift store items online as a hobby. I even brought an extra luggage full of things to sell here.

Canada is great for some things, but of course in others it sucks, so that's why I split my time. Philippines has a low cost of living, tropical climate, English is an official language, and it was an American colony for almost years, so it's quite westernized. You can get by fine without learning Tagalog, since English is the official language of business. I rent a studio apartment in a condotel for about $400 a month including everything: Rent, laundry, cleaning, internet, water and electricity. Cost of almost everything else is very low. I spend about $150 a month on food and about $6 a month on my cell phone plan. Transit, movies, eating out and going to the beach...most of it very cheap. I usually spend about $800 a month here.

I'm a single guy in my 40's and even though I had 5 in a row foreign ESL girlfriends from 2006-2012, I admit to getting nothing since then in Canada. It doesn't matter what dating site or app I use, I get no replies and no matches. I'm over 6 foot, slim and even runway modeled, and its crickets online. Meanwhile here, I'm the choosy one and am currently dating a 19 year old, a 20 year old and a 24 year old, with hopes of meeting more girls.

The catch is that I find most girls here physically unattractive. So yes, I can meet many girls, but I usually only like 1 out of every 10 I meet, and they are usually under 25. They age poorly here, so by 25 most look pretty run down. On top of that they are marriage obsessed and most girls are married by 25. Since divorce is illegal here, all they can do is separate and move on. Problem is adultery is illegal too, so the girl you are dating might be married and dating her could land you in jail, like the poor guy in the link below.

https://www.dailymail.co.uk/femail/arti ... 66u-vaDENQ

If you want proof they are not married, get them to show you a cenomar certificate which proves they are single. So, yes many girls here want to date foreigners, but many are physically unattractive, have aged poorly, are single Mums, and are probably married and often lie about it. If you want to only date unmarried 18-25 year old girls that are not single Mums, and look attractive it will be much tougher, and even then most of them will work 6 days a week, so you can only usually meet them 1-2x per week. Some will also not tell you that they are semi pro hookers and unless you pay them they will not come back again. If you have high standards for appearance, youth and lifestyle like I do, you will probably be disappointed in about 90% of the girls here. Poor skin with a lot of acne, and missing and rotten teeth are my pet peeves and you'll see lots of it here. I've bought 5% benzoyl peroxide cream as a present for some girls because they couldn't afford the $10.

It's really a total mismatch. I'm tall, slim, wealthy, retired, with no health issues and I eat healthy food I cook myself and have almost all of my time free. I don't drink, smoke, no drugs, never married and no kids in my mid 40's. It can sometimes be weird meeting and dating girls 25 years younger and a foot shorter than me when I feel sorry for them because they have essentially nothing and are desperate to get married and have kids and I don't want to, and I'm gone for 6 months of the year. Most girls I previously met married any foreigner they could find after me, and then got fat soon after.

The biggest problems in the Philippines for me (and probably most other visitors):

Very high corruption, 100th out of 180 countries on the transparency index.
Dishonesty is very common here and considered perfectly acceptable.
An average IQ of 86...I had mine tested and scored 136. That's 50 points difference and it shows.
Poverty, most make about $250 a month.
Lack of free time for the locals due to heavy work load.
Fast food diet and increasing obesity rates.
Teen pregnancy and lack of reproductive education.
The idea that religion will solve all the problems when it actually creates many of them. Yes, I'm atheist, and they are usually catholic.

Low IQ's, poor education and poverty are a very bad combination so after 6 months here I'm usually tired of it and happy to go back to Canada but will miss all the attention and of course intimacy with cute brown girls 25 years younger than me.

When I tell people in Canada I went in the Philippines they of course always say oh, how was it there?

I always say: "The internet was very slow, but the girls were very fast". Pretty much the opposite of Canada actually.
[OP]
Penalty Box
User avatar
Dec 13, 2016
2364 posts
1811 upvotes
stereoasis wrote:
Nov 5th, 2018 2:31 am
I'm in the Philippines now.
Yea, you know Asian women are not that different from Western women. If there is a 20 year age gap then 99% of the time they are only with you because of potential economic benefit, but I'm sure you know that. Most women prefer to date men their own age. If in doubt, have a go at 65 year old Filipina woman.
Deal Addict
Jul 23, 2007
3566 posts
1391 upvotes
Over a quarter of a century ago I was jealous of those who could retire at a young age and become perpetual travellers to various developing countries around the world. Now that I'm retired and older I'm content enough to just visit S.E. Asia with my wife for a few weeks every year or two, and that's about it.
Jr. Member
Jan 17, 2018
149 posts
82 upvotes
I skipped about 6 pages in this thread...time issues.

I have lived abroad for about 20 years now, and in both countries I have had insurance. Insurance is the key, and as you look to retire, insurance is not something that one can easily get. Dealing with big international insurance companies, I have also seen how the system works when you want to use that insurance.

I could retire outside Canada, but the problem for me is health care. If Canada had a system like the US has, I'd probably look to settle in Europe where they have health care.

I get that a lot of people have attachments to Canada. In my field, it is good as it means less competition for jobs internationally.

I see myself doing like many have said: 4 months in warmer weather and the rest of the time in Canada.

To the person who said Canada is 3rd world, I suggest visiting some of those countries. You won't ever suggest it again. There is no comparison. Canada is a country with aging infrastructure, but at least we have it rather than dirt roads and unsafe bridges.

To the person who said they would retire up in northern Ontario. I lived up north for a few years, and I just want to say: if you are spending winters up there be prepared for COLD you never knew existed and for snow you never knew could come non-stop. Also for 4pm sunsets in the winter. It is dark and depressing up there in the winter. I suggest Florida for winter and north for summer. Best of both worlds.

I'll most likely retire in Canada and it is due to the health care, no other reason.
Deal Addict
Dec 16, 2005
3870 posts
1644 upvotes
stereoasis wrote:
Nov 5th, 2018 2:31 am
I'm in the Philippines now.
Man, none of what you wrote makes me want to retire there... lol
Newbie
Oct 31, 2017
99 posts
96 upvotes
here, there, and eve…
My husband retired 3 yrs ago, we are looking at wintering in Mexico, those that already winter down in Mexico, what area would you recommend?
Let's go Canucks
3rd yr season ticket holder
Deal Addict
Aug 30, 2011
3010 posts
792 upvotes
Ottawa
krzcnck wrote:
Nov 18th, 2018 8:45 am
My husband retired 3 yrs ago, we are looking at wintering in Mexico, those that already winter down in Mexico, what area would you recommend?
Are you familiar with any areas in Mexico? (Also, you might add this question in the Travel forum)

We have been pretty much everywhere in Mexico, and it helps (outside of resort areas) to speak Spanish, which my husband does. We're heading to Progreso in the Yucatan in late January, but only for two weeks, since we have commitments here.

What do you want to do when there? Do you want beach? To travel on day (or longer) trips from a home base? Will you rent a car? If you're OK inland, then Oaxaca, Guanajuato, San Miguel de Allende could suit you. You can try several areas during a vacation to see what you like. We have visited Mexico City, Celestun, Campeche, Puerto Vallarta, and a few other places that I enjoyed visiting but wouldn't want to do a long stay there. We stayed at a small fishing village (Chuburna) a couple of years ago, but found it too isolated (we don't rent a car).
Newbie
Nov 17, 2018
2 posts
If you are living off your HELOC, are you really retired? you are depleting your home equity.
stereoasis wrote:
Nov 5th, 2018 2:31 am
I'm in the Philippines now. I've been coming here since 2012 when I retired at age 40. I usually spend Canadian autumn and winter here and spring and summer in my condo in the Vancouver area. I bought it very cheap in 2002, paid off my mortgage in 2010 and got a HELOC in 2011 so live off that mostly. I also sell resell thrift store items online as a hobby. I even brought an extra luggage full of things to sell here.

Canada is great for some things, but of course in others it sucks, so that's why I split my time. Philippines has a low cost of living, tropical climate, English is an official language, and it was an American colony for almost years, so it's quite westernized. You can get by fine without learning Tagalog, since English is the official language of business. I rent a studio apartment in a condotel for about $400 a month including everything: Rent, laundry, cleaning, internet, water and electricity. Cost of almost everything else is very low. I spend about $150 a month on food and about $6 a month on my cell phone plan. Transit, movies, eating out and going to the beach...most of it very cheap. I usually spend about $800 a month here.

I'm a single guy in my 40's and even though I had 5 in a row foreign ESL girlfriends from 2006-2012, I admit to getting nothing since then in Canada. It doesn't matter what dating site or app I use, I get no replies and no matches. I'm over 6 foot, slim and even runway modeled, and its crickets online. Meanwhile here, I'm the choosy one and am currently dating a 19 year old, a 20 year old and a 24 year old, with hopes of meeting more girls.

The catch is that I find most girls here physically unattractive. So yes, I can meet many girls, but I usually only like 1 out of every 10 I meet, and they are usually under 25. They age poorly here, so by 25 most look pretty run down. On top of that they are marriage obsessed and most girls are married by 25. Since divorce is illegal here, all they can do is separate and move on. Problem is adultery is illegal too, so the girl you are dating might be married and dating her could land you in jail, like the poor guy in the link below.

https://www.dailymail.co.uk/femail/arti ... 66u-vaDENQ

If you want proof they are not married, get them to show you a cenomar certificate which proves they are single. So, yes many girls here want to date foreigners, but many are physically unattractive, have aged poorly, are single Mums, and are probably married and often lie about it. If you want to only date unmarried 18-25 year old girls that are not single Mums, and look attractive it will be much tougher, and even then most of them will work 6 days a week, so you can only usually meet them 1-2x per week. Some will also not tell you that they are semi pro hookers and unless you pay them they will not come back again. If you have high standards for appearance, youth and lifestyle like I do, you will probably be disappointed in about 90% of the girls here. Poor skin with a lot of acne, and missing and rotten teeth are my pet peeves and you'll see lots of it here. I've bought 5% benzoyl peroxide cream as a present for some girls because they couldn't afford the $10.

It's really a total mismatch. I'm tall, slim, wealthy, retired, with no health issues and I eat healthy food I cook myself and have almost all of my time free. I don't drink, smoke, no drugs, never married and no kids in my mid 40's. It can sometimes be weird meeting and dating girls 25 years younger and a foot shorter than me when I feel sorry for them because they have essentially nothing and are desperate to get married and have kids and I don't want to, and I'm gone for 6 months of the year. Most girls I previously met married any foreigner they could find after me, and then got fat soon after.

The biggest problems in the Philippines for me (and probably most other visitors):

Very high corruption, 100th out of 180 countries on the transparency index.
Dishonesty is very common here and considered perfectly acceptable.
An average IQ of 86...I had mine tested and scored 136. That's 50 points difference and it shows.
Poverty, most make about $250 a month.
Lack of free time for the locals due to heavy work load.
Fast food diet and increasing obesity rates.
Teen pregnancy and lack of reproductive education.
The idea that religion will solve all the problems when it actually creates many of them. Yes, I'm atheist, and they are usually catholic.

Low IQ's, poor education and poverty are a very bad combination so after 6 months here I'm usually tired of it and happy to go back to Canada but will miss all the attention and of course intimacy with cute brown girls 25 years younger than me.

When I tell people in Canada I went in the Philippines they of course always say oh, how was it there?

I always say: "The internet was very slow, but the girls were very fast". Pretty much the opposite of Canada actually.
Deal Addict
Jan 15, 2009
1026 posts
355 upvotes
Just north.
Nowhere retirement age yet, but I'm looking into spending 4-5 months in warmer climate during Canada's winter, and returning to Canada to do part time work.
Deal Fanatic
Feb 1, 2006
9465 posts
589 upvotes
Muskoka
pmcd wrote:
Oct 9th, 2018 2:24 pm
I agree that you can find places in Canada where the cost of housing is lower. But you will be in a place totally unfamiliar, away from family ( an airplane trip is hardly being close), probably lower quality health care, etc... For some people this might be worth it. Halifax is not as inexpensive as you might think.

In any case, moving to some smaller town in Canada is really not for everyone. Young people are trying to get out of many of them. There is a reason why housing is cheaper.

A lot depends on your family situation, the neighbouhood you currently live in, your age, your health and where you have friends.

In general, if you are 65+ moving to a totally unknown environment strikes me as either very brave or plain silly. By moving I don’t mean spending 3-4 months in a warmer climate.
There was an article last week showing that Muskoka is in the top ten cheapest places to live in Canada. Less than 2 hours from Toronto. We are from the GTA but live here now, and the move has been fantastic. With the house price difference, we could retire at 41, so now we spend most of our time at outdoor pursuits. Winters are a couple degrees colder than the GTA, and more snowy, which is great for us. We are nordic and downhill skiers, it was depressing having cold almost snow-less winters in the GTA, brown and gross looking most of the time.

There are loads of professionals here, that was a surprise to us. We quickly made new friends, people are more friendly in small towns, and less rushed. Making dinner plans with friends in the GTA was always an ordeal, everyone was always busy, as they worked high stress demanding jobs, with long commutes, so had to do all of their chores on weekends. We still have friends there and visit every couple months, but we dread the drive, because as soon as you get south of Barrie, the aggressive/bad driving starts, and then we always get stuck in a traffic jam, no matter the time of day. In the summer, you can see the big ring of dirty air as you get closer to the city. We rarely find any other reason to go down to the GTA. My son sees a specialist occasionally, so we go for that. After living here for awhile, though, all four of us find the city less and less appealing. Small town life seems to suit us better.

I was talking to a young guy recently who lives in Hamilton, he was a server and his partner works in the hotel industry. He was bemoaning the fact that they could never even entertain the idea of buying a house. I told him they could easily work in a resort here, and detached houses can be had for under $300k. You get to live in Toronto's year round playground, and actually have a life, with time to do fun stuff. It blew his mind, he of course had never considered it, and he got very excited about the prospect. He is coming up to explore the idea this week. A know a few agents in the area, and they tell me most of their clients are like this, young people who have no chance in the GTA, or people in their 50's and 60's retiring early because of the house price difference. The towns populations are all growing, and because of this, new infrastructure is being built. There is a new mega sportsplex with pool, high school, theatre, etc. New arena and library being built. There is walmart, Home Depot, etc. You can get sushi, Thai, Indian here. If you really need big ciy stuff, it's just over an hour to the north part of GTA.

Young people here seem to be way more entrepreneurship-minded. Lots of good opportunities, and I know a few young guys that are doing really well. I know some other young people that work remotely, and some others that are skilled trades, which do very well here with all of the building going on.

But yeah, it is not for everyone. I hope the idea doesn't catch on to too many people, and then it gets crowded here like in the city. If you're not outdoorsy, you will probably not like it much.
Deal Addict
Jul 27, 2017
1791 posts
649 upvotes
GTA
Bullseye wrote:
Nov 19th, 2018 5:54 am
There was an article last week showing that Muskoka is in the top ten cheapest places to live in Canada. Less than 2 hours from Toronto. We are from the GTA but live here now, and the move has been fantastic.

With the house price difference, we could retire at 41, so now we spend most of our time at outdoor pursuits.

Winters are a couple degrees colder than the GTA, and more snowy, which is great for us. We are nordic and downhill skiers, it was depressing having cold almost snow-less winters in the GTA, brown and gross looking most of the time.

The towns populations are all growing, and because of this, new infrastructure is being built. There is a new mega sportsplex with pool, high school, theatre, etc. New arena and library being built.

There is walmart, Home Depot, etc. You can get sushi, Thai, Indian here. If you really need big ciy stuff, it's just over an hour to the north part of GTA.

But yeah, it is not for everyone. I hope the idea doesn't catch on to too many people, and then it gets crowded here like in the city. If you're not outdoorsy, you will probably not like it much.
Muskoka is a huge area, some 3,938 km², so when you make the comparison of 'Muskoka life' are you being specific to Bracebridge, Gravenhurst or Huntsville that have all the city style amenities?

as for young, fit, thrifty & retired, must be nice, but I wonder what all the aged seniors do in the winter months?

I suppose as long as there are Tim Hortons & McDonalds , life is good in Muskoka?
Deal Addict
Jun 1, 2008
1399 posts
249 upvotes
Toronto
@Bullseye

Sounds good for you. I suspect this would have limited appeal. Few can retire at 41. In our case skiing and such is not enough to move from a home we have been in for over 30 years. Quite like the winter by the lake in the Beaches. Perhaps going south for a month might appeal. All depends what you want. We have our grandkids, friends, family, etc... all reasonably close. I suspect we aren’t going anywhere.
Deal Fanatic
Feb 1, 2006
9465 posts
589 upvotes
Muskoka
porticoman wrote:
Nov 19th, 2018 8:59 am
Muskoka is a huge area, some 3,938 km², so when you make the comparison of 'Muskoka life' are you being specific to Bracebridge, Gravenhurst or Huntsville that have all the city style amenities?

as for young, fit, thrifty & retired, must be nice, but I wonder what all the aged seniors do in the winter months?

I suppose as long as there are Tim Hortons & McDonalds , life is good in Muskoka?
The towns you named are the big 3, where most people live. Bracebridge and Huntsville are big enough that they have Walmarts. My post was specific to Bracebridge, though.

I can't speak for many seniors, but I run and ski with some of the younger ones. The older/less active ones do the same thing they do in the city, sit in groups at Tim's or McD's and chat, like you said. There is no mall here for the mall walking crowd, but there is an indoor track that has a walking club that attracts a lot of seniors. Pickleball is big here, as is lawn bowling and curling.

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