Personal Finance

Are you considering a retirement in a third world country?

  • Last Updated:
  • Dec 6th, 2018 10:20 pm
Member
Jan 30, 2017
320 posts
40 upvotes
http://www.surfranchpopoyo.com/condos

I’m still well into my working years and won’t be retiring for at least another 20 years but this I was really close to pulling the trigger

Condo really cheap by the beach. I would have had the flexibility to live ther permnantely or live there a few months and rent it out the other months

In the end, it was difficult to pull trigger cause it Is pre construction condos and they want payment first.. can’t really trust them

I would say it’s best to buy now cause I’m 20 years it’s gonna b more expensive
Member
User avatar
Dec 6, 2017
483 posts
210 upvotes
Manitoba
BiegeToyota wrote:
Sep 7th, 2018 9:15 am
^

That's a vacation. You will still be a resident of Canada.
Yep, and I plan on staying that way. :)
one more deal and I'm out * involuntary tick*.... :twisted:
Banned
Aug 28, 2018
111 posts
46 upvotes
What makes you think Canada is first world?

It is a third world country masquerading as a first world country. The infrastructure is slowly crumbling with no money to fix it, and cities, provinces, country in huge debt.

Extremely high taxes, expensive unaffordable housing, high car insurance, high gas prices ,high groceries, no jobs or mostly low level, low paying, low skill service industry type of jobs, horrible and miserable weather. No innovation, No hi-tech industry - just selling its natural resources - mostly Alberta oil and metal like copper, nickel etc from Northern territories.

Free healtcare is a joke too. Months and years to get specialist and doctor's appointments. Ofcourse paid through your high taxes, so not free.

You are already retiring in a third world country, if you retire or live here.
Deal Addict
Jul 3, 2017
3860 posts
2765 upvotes
Residency for benefits like health care and social services disappears quickly, e.g., you can become non-resident if you spend as little as 3 months residing outside your jurisdiction. Residency for tax purposes is quite different - as someone once put it, tax residency sticks to you like glue and is very difficult to detach. :)

While we do have public health care in Canada, it's not a great system - it's still costly if you have money to pay, access is poor, and the waiting times for critical care are a national disgrace, worst in the developed world. Many have realized that you can get access to private high-quality health care in "third-world" countries just fine if you have the money to pay, and it may well be cheaper than living in Canada and paying high taxes to subsidize a broken health care system that doesn't work as well for you.

But I think it really comes down to personal factors. If you are planning to retire to a place you love, and you have friends and/or family there, you can probably make the financial part work. But if you're planning to go live in a strange country that you barely know, where you don't speak the local language and have never really experienced living there, you're probably heading for disappointment.
Deal Fanatic
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Nov 13, 2010
5686 posts
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Scarborough
the healthcare system is effed up, they treat you like cattle in most places. Just like robots. They got no compasison or even care, they just like more appointments so more and more chances to SWIPE that HEALTHCARD and bill the Govt.

these developed/first world countries will be a joke. They're slowly legalizing drugs and so pretty soon they'll all be high and useless from the drugs and alcohol. It will become unlivable with all that smell and smoke from weed and other drugs. Good Luck Canada. People fed up of bullshit being forced onto them will just leave, and take their money with em.

Yes retirement back in origin country where every wrong thing IS NOT LEGALIZED and they EXECUTE Criminals
Sr. Member
May 16, 2017
752 posts
749 upvotes
Nice to see this descend into declarations of yearning for a fascist homeland.
Deal Expert
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Nov 15, 2004
17701 posts
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Toronto
apnayloags wrote:
Sep 7th, 2018 11:48 am
the healthcare system is effed up, they treat you like cattle in most places. Just like robots. They got no compasison or even care, they just like more appointments so more and more chances to SWIPE that HEALTHCARD and bill the Govt.

these developed/first world countries will be a joke. They're slowly legalizing drugs and so pretty soon they'll all be high and useless from the drugs and alcohol. It will become unlivable with all that smell and smoke from weed and other drugs. Good Luck Canada. People fed up of bullshit being forced onto them will just leave, and take their money with em.

Yes retirement back in origin country where every wrong thing IS NOT LEGALIZED and they EXECUTE Criminals
And yet you're here.

I wouldn't mind retiring to a third world country, but I'd probably only be there in the winter. I plan to retire in a small town in Canada near the ocean or a lake.
Could HAVE, not could OF. What does 'could of' even mean?
[OP]
Deal Addict
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Dec 13, 2016
3032 posts
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Three posts that couldn't be more wrong.

I wonder how many are willing to give up their passport.

If you think healthcare in a third world country is better and cheaper, you are greatly mistaken and will be caught with your pants down.
Deal Addict
Mar 21, 2010
4660 posts
1456 upvotes
Toronto
Personally I wouldn't feel comfortable moving to another country for the purpose of taking advantage of inequality. For example, I visited Cambodia some years back, and you could get a 5* French restaurant meal for $10 - which was nothing to us tourists, but a stratospheric amount of money for a local person to spend on a single meal. I don't want to be someone who trades a mundane, average life here to live like a king somewhere where people are struggling to get basic education, sanitation, anything resembling fair treatment from public officials etc. Plus, ethics aside, I feel like with that level of inequality, it's only a matter of time until people start taking it back from you. Like how people living in big Toronto houses are probably more likely to get overcharged by tradespeople - that, multiplied by a thousand.

I had a former colleague who retired to Panama, bought a condo there and everything, and gave up after a couple of years. He said there were just too many people wanting a little bit extra at every turn, that even if after all the bribes and hassles he came out financially ahead, it wasn't worth looking over your shoulder and wondering who's next to rip you off all the time.
Deal Addict
Dec 16, 2005
4554 posts
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BiegeToyota wrote:
Sep 7th, 2018 12:33 pm
Three posts that couldn't be more wrong.

I wonder how many are willing to give up their passport.

If you think healthcare in a third world country is better and cheaper, you are greatly mistaken and will be caught with your pants down.
agree. those people saying 3rd world country health care is better than canada obviously have never needed health care (serious issues) from a 3rd world country.

I guess ignorance is bliss.
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User avatar
Dec 27, 2009
6853 posts
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Ottawa, ON
stniagara wrote:
Sep 7th, 2018 10:01 am
What makes you think Canada is first world?

It is a third world country masquerading as a first world country. The infrastructure is slowly crumbling with no money to fix it, and cities, provinces, country in huge debt.

Extremely high taxes, expensive unaffordable housing, high car insurance, high gas prices ,high groceries, no jobs or mostly low level, low paying, low skill service industry type of jobs, horrible and miserable weather. No innovation, No hi-tech industry - just selling its natural resources - mostly Alberta oil and metal like copper, nickel etc from Northern territories.

Free healtcare is a joke too. Months and years to get specialist and doctor's appointments. Ofcourse paid through your high taxes, so not free.

You are already retiring in a third world country, if you retire or live here.
Give it a rest. You are wrong on so many levels. Go move somewhere better. Buu bye!
Deal Addict
Aug 30, 2011
3311 posts
1034 upvotes
Ottawa
Chickinvic wrote:
Sep 7th, 2018 4:54 pm
Give it a rest. You are wrong on so many levels. Go move somewhere better. Buu bye!
Seems he is banned. Good!

I think some people in their 20s and 30s who say they'd like to retire to another country won't feel the same when they are older, and their spouse wants to remain in Canada, and their adult children and grandchildren are here. Maybe if you're single with no ties, but I really don't see the appeal if you have family. Of course you can WhatsApp and fly home to visit, but to me it's not the same being on the other side of the world. I'm older, and a woman, so maybe it's a gender thing ;)
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Feb 4, 2015
4671 posts
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Canada, Eh!!
OttawaGardener wrote:
Sep 7th, 2018 5:10 pm
Seems he is banned. Good!

I think some people in their 20s and 30s who say they'd like to retire to another country won't feel the same when they are older, and their spouse wants to remain in Canada, and their adult children and grandchildren are here. Maybe if you're single with no ties, but I really don't see the appeal if you have family. Of course you can WhatsApp and fly home to visit, but to me it's not the same being on the other side of the world. I'm older, and a woman, so maybe it's a gender thing ;)
Nah, you are just wiser :)

Few years back had great opportunity from a controller used to work with.

Car with driver.
Three trips back home.
Paid in USD.
Very generous vacation and benefits package.
Large bonus after 2 years.
Etc.

BUT in 3rd world country... far from Family and YMMV on health care even if have no financial restrictions.

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