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Picked this up from my library. It’s a decent book that was released in the last 12 months, and most of the interesting stuff is in the last three chapters, discussed at length below. The vast majority of the book talks about accumulating wealth, and his advice for that is mostly spot on but nothing new for most of us. His advice to invest primarily in TD funds has not aged well after the Vanguard fiasco this year, however.
Is anyone thinking of retiring abroad after they’re done practicing? This book has really piqued my interest, especially in Spain or Portugal. The only thing that I think would hold me back would be wanting to be close to friends and especially family. It certainly sounds like a net positive financially considering the costs of health care in the US between 50 and 65.
Latin America
Mexico - “The top doctors and dentists are as good in Mexico as they are in Canada and the United States. But the average doctor in Canada and the US adheres to higher standards….” He also talks about how he paid $24 to have a filling then had to have it redone in Canada a year later. Not a ringing endorsement.
Higher crime (6x the homicide rate of US), but LCOL than the other Central American countries profiled ($1800 - $2500 a month).
Costa Rica - The book makes the Caja socialized health system out to be the best thing since sliced bread and interviews two 60 year olds who pay $500 a month for comprehensive medical/dental/vision. A lot safer than Mexico but more expensive housing.
Panama - I’m not sure what stands out about Panama compared to Costa Rica. Book profiles how easy it is to get residency as long as you can guarantee $1000 a month in income. They say it’s a little more expensive than Costa Rica.
Ecuador - way cheaper than anywhere else, but it sounds like the health care system is the crummiest. The book profiles a couple who paid $1500 for hospitalization after the husband’s heart attack, but that was after they couldn’t get an ambulance to come to their small village on the coastline. Crime rates not quantified - “you’ll find petty crime anywhere.”
Europe:
Portugal - Interesting chapter as it explains the NHR program. .You have to show passive income covering the minimum wage in Portugal to get the D7 visa and that is about it. Profiled couple renting villa on the coast for 1000 euros a month, “best weather in Europe.” Visa gives access to free healthcare. Very low crime rate. What’s not to like?
Spain - reread this chapter and it sounds like everything is mostly the same as Portugal with a different language.
Eastern Europe - Latvia and Georgia. These sections are pretty short, and not much to write home about. Basically they’re even cheaper than Spain and Portugal, especially Georgia. Everyone says the health care systems are awesome (yeah, sure they are). The language in Georgia is a pain to learn.
SE Asia - I really like these countries but probably would opt for elsewhere due to the distance from family and US as well as language barriers. The following two countries were profiled because author thinks they have the best medical systems in the region.
Malaysia - “Top quality medical,” hotter than Hades, cheaper than most other countries profiled (including Mexico, Portugal, Spain). Possible increased income requirements for residency ($10k per month).
Thailand - I went there four years ago and my observation was they treat Westerners like kings. It has something for just about everybody who likes outdoors and tourism. Crime, medical, COL seem similar to Malaysia.
Is anyone thinking of retiring abroad after they’re done practicing? This book has really piqued my interest, especially in Spain or Portugal. The only thing that I think would hold me back would be wanting to be close to friends and especially family. It certainly sounds like a net positive financially considering the costs of health care in the US between 50 and 65.
Latin America
Mexico - “The top doctors and dentists are as good in Mexico as they are in Canada and the United States. But the average doctor in Canada and the US adheres to higher standards….” He also talks about how he paid $24 to have a filling then had to have it redone in Canada a year later. Not a ringing endorsement.
Higher crime (6x the homicide rate of US), but LCOL than the other Central American countries profiled ($1800 - $2500 a month).
Costa Rica - The book makes the Caja socialized health system out to be the best thing since sliced bread and interviews two 60 year olds who pay $500 a month for comprehensive medical/dental/vision. A lot safer than Mexico but more expensive housing.
Panama - I’m not sure what stands out about Panama compared to Costa Rica. Book profiles how easy it is to get residency as long as you can guarantee $1000 a month in income. They say it’s a little more expensive than Costa Rica.
Ecuador - way cheaper than anywhere else, but it sounds like the health care system is the crummiest. The book profiles a couple who paid $1500 for hospitalization after the husband’s heart attack, but that was after they couldn’t get an ambulance to come to their small village on the coastline. Crime rates not quantified - “you’ll find petty crime anywhere.”
Europe:
Portugal - Interesting chapter as it explains the NHR program. .You have to show passive income covering the minimum wage in Portugal to get the D7 visa and that is about it. Profiled couple renting villa on the coast for 1000 euros a month, “best weather in Europe.” Visa gives access to free healthcare. Very low crime rate. What’s not to like?
Spain - reread this chapter and it sounds like everything is mostly the same as Portugal with a different language.
Eastern Europe - Latvia and Georgia. These sections are pretty short, and not much to write home about. Basically they’re even cheaper than Spain and Portugal, especially Georgia. Everyone says the health care systems are awesome (yeah, sure they are). The language in Georgia is a pain to learn.
SE Asia - I really like these countries but probably would opt for elsewhere due to the distance from family and US as well as language barriers. The following two countries were profiled because author thinks they have the best medical systems in the region.
Malaysia - “Top quality medical,” hotter than Hades, cheaper than most other countries profiled (including Mexico, Portugal, Spain). Possible increased income requirements for residency ($10k per month).
Thailand - I went there four years ago and my observation was they treat Westerners like kings. It has something for just about everybody who likes outdoors and tourism. Crime, medical, COL seem similar to Malaysia.
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