Southeast Asia best for Brits on a budget

Retirement overseas may well be an answer to comparative poverty in later life, but needs a good deal of homework to get it right.

The baby boomer generation in first world countries such as the USA, Australia and the UK is facing a dilemma. Having done their best for their young families, they’re now approaching retirement and are relatively cash-poor as the cost of living soars and occupational pensions don’t deliver what they promised. Those stuck on UK state pensions are in an even worse state, especially if they’ve been renters rather than buyers for all their working lives.

The first priority is a destination with a low, low cost of living, suitable for retirees from the UK whose state pensions are less than half the US equivalents. An established, friendly community is important, although it might not be the perfect answer as expat retirees tend to congregate with their peers from the home country. Mexico and the Central American coastal resorts provide a good example of this, with English accents as rare as genuine English pubs.

Sadly, it’s still not clear whether favourite European expat retiree hotspots will still be easily accessible post-Brexit, with several including Portugal and France suffering the same inflationary woes as the UK. Asia is still a possibility, but it’s a case of ‘what you see is what you get’ as regards culinary reminders of the UK. If they’re there at all, they’re even dearer than at home. Chiang Mai in northern Thailand is a good example of this syndrome as, if you’re not overly fond of red chillies, you’ll likely be stuck for inexpensive dining and even home cooking.

Increasingly, Southeast Asia is being seen as the destination of choice for retirees on a low budget. Vietnam, Cambodia, Thailand and the Philippines are favourites for their warmer weather and friendly locals as well as their ultra-cheap local outdoor markets. Unfortunately, visa procedures and costs are getting less easy for retirees, but it’s still possible to live relatively well once you’re in, as rental charges are still far below those in Western expat haunts. For women on their own, the region is still considered safe, as conflicts if any are mostly confined to locals and, for those allergic to housework in the heat, daily help is also just a fraction of what’s charged in the West.