Introduction
Our update frequency is not fixed, but every time, we hope to bring valuable content to everyone. Thank you for your support in the past year. Today, we share a topic that many Chinese and overseas Chinese friends are interested in: where is suitable for retirement in the future?
Considerations for Retirement
Retirement Age and Pension in Germany
We live in Germany, where the legal retirement age is 67. If you choose early retirement, according to the current law, the earliest you can retire is at 63, but you need to give up a part of your pension. The annual deduction is about 3%. Early retirement is our dream, so we have been observing and thinking about it.
The Complexity of Retirement Relocation
Retiring and leaving a familiar environment is not easy. It requires careful evaluation and continuous adjustment of the feasibility of suitable plans. We have decided to update our observations and thoughts every two years and share them with you as a reference. We also look forward to your participation in this discussion to brainstorm for better future arrangements.
Comparison with Other Bloggers' Views
Many foreign bloggers focus on living costs as the top priority because some foreigners don't plan well when they are young and don't pay attention to savings, investment, and risk planning. So, many of their conclusions are not particularly suitable for the retirement expectations of Chinese people. We want to share our latest conclusions from 2023 and 2024 from the perspectives of medical security, climate, food, and living convenience.
Key Consideration: Medical Care
Impact of Age on Medical Needs
Our observation over the years shows that the biggest difference in considerations for those under and over 75 years old is the emphasis on medical care. Many Europeans and Americans choose to settle in Southeast Asia, such as Thailand and Malaysia, when they first retire, focusing on convenient life services and high cost-effectiveness. However, after 75 years old, most of them will return to their medical insurance所在地.
The Limitations of Private Insurance
With the extension of modern people's lifespan and the improvement of conditions, most people rely more on medical care after 75 years old. At this time, medical care must be placed in the most important position, especially considering that private insurance costs more and more with age and contains various possible deduction clauses. That is to say, when you really need it, your private insurance may not be able to cover the medical care you need well. So, it is best to stay in the area where you can enjoy the greatest medical security. For example, in Germany, according to the current EU medical insurance rules, German public insurance, such as TK and AOK, can be shared throughout the EU.
Analysis of Different Regions
Thailand
We went to Thailand for three weeks during Christmas and New Year, staying in Bangkok, Pattaya, and Chiang Mai. Our conclusion is that Thailand is suitable for tourism and vacation but not for long-term settlement.
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Suitable for certain groups: Thailand's market culture is very rich, which is suitable for those who like shopping and exploration. It also has many large shopping malls, especially in Bangkok, which is suitable for people who are used to large business circles. For devout Buddhists, it is also a good choice.
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Problems: The traffic is a bit crowded, and the main transportation is not particularly smooth. The road safety is not very suitable for those who are used to relative order. The air and water quality are not as good as expected, and the overall environment is relatively noisy. Language is also a problem. Although the private insurance is said to be good, we don't know it comprehensively, so we have concerns.
China - Yunnan
We took our family to Yunnan for three weeks during the winter vacation, including Kunming, Dali, and Tengchong. Our conclusion is that it is suitable for tourism in the good season but not for long-term residence.
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Problems: We don't have medical insurance in China, and the rules for self-paying medical care seem very complex. The air quality and water quality are a big concern. There are too many people smoking on the road, and the air pollution from vehicles is relatively heavy. In winter, there is no comprehensive heating, and the indoor temperature is relatively low. There are also concerns about food additives.
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Advantages: The price is very affordable. The safety is very good, and it is very convenient to take care of family members. Language is not a problem.
Greece and Turkey
We visited Greece and Turkey again in 2023. Although they were once considered, we have basically given up now.
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Advantages: The prices in Greece and Turkey are relatively low in Europe or the EU. The weather is good, especially in the southern part of Turkey and the Aegean Sea islands. The food is delicious, and there are German and English-speaking communities. The medical and language problems are not big.
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Problems: The natural geological disaster problem is serious. They are located in the main earthquake zone, and the earthquake activity is very frequent. In addition, natural disasters such as floods and wildfires are becoming more and more frequent, and the disaster - bearing capacity of islands is relatively weak.
Italy, Portugal, and Spain
These three countries are currently our top three choices for retirement.
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Common advantages: They are all southern European countries with warm climates, abundant sunshine, and long coastlines. They have a certain cultural heritage, which is convenient for exploration. They are all EU countries, so medical insurance can be used. They are relatively safe areas.
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Disadvantages and considerations: In Italy, the prices in the northern tourist areas are relatively high, and there are earthquakes. In Portugal, the forest fires and air pollution in some areas are a concern. In Spain, although the basic living expenses are relatively low, the price has fluctuated with inflation. We recommend choosing satellite cities around the metropolis, which have mature living facilities, convenient transportation, and a balance between urban life and tranquility.
Conclusion
The choice of retirement destination is a long-term process. With the change of time and environment, our conclusions are constantly adjusted. If you have other ideas or experiences, welcome to discuss with us in the comment section. Don't forget to like and subscribe to us. See you next time!