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The 10 Best Places to Retire In The World

It would be no surprise if you have come to this article looking for the best places to retire overseas.

After spending decades of your life slogging in Singapore, you feel it is now time to venture out and get some fresh air. It might seems appealing to you to spend the next half of your life in a place where you get the best healthcare and quality of life – in addition to your mansion that is overlooking the horizon by the sea or a farm located at the top of a mountain. Tranquility is what you desired most.

We hear and feel you.

In what we defined ‘best‘, we use Natixis’s CoreData 2014 Global Retirement Index which examined 4 thematic indices that incorporates 20 performance indicators in our article.

The 4 thematic indices include:

The Health in Retirement Index – measured using the geometric mean of life expectancy at birth, health expenditure per capita, physicians per 1,000 people, non-insured health expenditure and the number hospital beds for every 1,000 people.
The Material Wellbeing in Retirement Index which measures the ability of a country’s population to provide for their material needs. It took the geometric mean of the income per capita, income equality and the rate of unemployment in their studies.
The Finances in Retirement Index that is calculated using a range of indicators such as investment environment, old age dependency, inflation and interest rate, tax pressure, bank non-performing loan, government indebtedness and institutional strength.
The Quality of Life and Environmental Index is a sub-index that captures the level of happiness of a society as well as environmental factors such as water and air pollution and the level of climate change.

8 out of the 10 in the list are European countries and they are a popular retirement haven where millions of retirees flock to in the past few years.

Let’s take a look at 10 best places to retire in the world.

1. Switzerland

(Image Credit: adina*raul, via Flickr)

Total population: 8,061,516 (July 2014)
GDP per capita: US$80,477.43 (2013)

Switzerland has overtook Norway moving up one place to top the retirement index. When the Swiss nation topped a number of indicators with the highest life expectancy, lowest inflation (-0.10% in November 2014) and the least air and water pollution, you could see the reason why. Coupled with improving healthcare and income equality, it is everyone’s dream to retreat there.

Interesting facts: From Swiss watches to chocolates, you get the finest of everything. What about a trip to the Swiss Alps?

2. Norway

(Image Credit: Jarkko Laine, via Flickr)

Total population: 5,156,451 (1 October 2014)
GDP per capita: US$100,818.50 (2013)

Even though Norway has dropped one place, it is a country that boasts a very high quality of life, exceptional healthcare and sound financial system. With a sovereign wealth fund of $800bn, it is also one of the wealthiest countries in the world on a per capita basis.

However, its ultra-low interest rate and high level of taxation could pose huge a challenge for retirees to grow their retirement saving.

Interesting facts: Norway is famous for its Fjords, a long and narrow inlets with steep cliffs. Also expect to see many trolls figurines in shops and along the street as they form part of the Norse folklore.

3. Austria

(Image Credit: – peperoni -, via Flickr)

Total population: 8,507,786 (1 January 2014)
GDP per capita: US$49,053.82 (2013)

Taking third place, we have Austria who has climbed two places in last year’s index. What contributed most is their healthcare system where there is free access to basic healthcare even if you are a tourists or just staying temporarily if you are from a EU country. Low unemployment and high income equality has led to a high material wellbeing.

Interest facts: Known worldwide for its music and architecture, Austria has produced many famous musicians, actors, composers and philosophers. Think Arnold Schwarzenegger, Mozart, Sigmund Freud and Ferdinand Porsche.

4. Sweden

(Image Credit: Ulf Bodin, via Flickr)

Total population: 9,557, 532 (15 December 2014)
GDP per capita: US$58,269.03 (2013)

Sweden also boasts one of the best healthcare system in the world. Like many others in the list, Sweden has low level of income inequality and inflation and hence fared well in the Finance in Retirement index. With a GDP per capita of $58,269.03, it is one of the highest in the EU.

Interesting facts: The Swedes love their fermented herring more than anything else. It forms one of their staples since the 16th century. Fika, or coffee break, is common in Sweden. Everyone gets together with their colleague, friends and family to enjoy coffee so expect to see many Fika cafes in Sweden. Wait, do you also know that they are famous for its glass?

5. Australia

(Image Credit: Hai Linh Truong, via Flickr)

Total population: 23,692,600 (11 December 2014)
GDP per capita: US$67,468.07 (2013)

Australia is one of the country that made it into the top 10 list and has rose from 11th to 5th in 2014. As a economy with strong commodities industry, it is one of the fastest developed economies in the world. With low unemployment, tax pressure and a strong social system, it is no surprise that Australia has made significant improvements to its ranking.

Interesting facts: Whenever someone mention Australia, kangaroo and koalas are the first that comes to my mind. The Great Barrier Reef is one of the world largest coral system and was selected as one of the world heritage sites by UNESCO. If you are a retiree who love outdoor activities, stop at Australia. What’s Australia without surfing and camping?

6. Denmark

(Image Credit: Jim Nix, via Flickr)

Total population: 5,627,235 (2014)
GDP per capita: US$58,894.00 (2013)

Denmark is one of the ‘happiest’ nations on the planet which is reflected in their high Quality of Life index. Outstanding living standards and government welfare has benefited the Danes. Free university and gay rights has led to high level of freedom amongst the Danes.

Interesting facts: Denmark has the highest level of trust in the world with each citizens supporting one another. And if you are mad about food, Noma should be in your hit list for haute cuisine. It is the best restaurant in the world with about 20,000 people attempting to get a reservation in a day. Oh and did i mention LEGO was invented by the Danes?

7. Germany

(Image Credit: Trey Ratcliff, via Flickr)

Total population: 82,652,256 (July 2014)
GDP per capita: US$45,084.87 (2013)

Germany is the largest economy in Europe and also one of the most influential European nation. Known worldwide for its manufacturing of high-end products such as cars, kitchen utensils and hiking products – expect everything to be world class. Excellent welfare and health care system in the country has allowed the country to be a good retirement haven.

Interesting facts: Entrenched with rich culture and heritage, there are plenty of museums, theatres, and libraries for retirees to visit. And if there is Mozart, we have Beethoven. If you are famish, how does a bratwurst accompanied by a beer sounds? Heaven.

8. Finland

(Image Credit: Timo Horstschäfer, via Flickr)

Total population: 5,268,799 (July 2014)
GDP per capita: US$47,218.77 (2013)

Despite dropping two places, Finland has one of the highest qualify of life with a good healthcare and financial system – something that is common in Nordic nations. Low crime rate and the least corrupted government has also made Finland a safe place to retire. Something that also stood out is their world class education system that has consistently ranked above many nations.

Interesting facts: Helsinki, capital of Finland is voted as one the most liveable cities in the world. Finland is also one of the best place in the world to spot the Northern Lights. And good news if you are a sauna lover, there are over 2 million saunas in Finland. End your visit with fresh Finnish coffee.

9. New Zealand

(Image Credit: Trey Ratcliff, via Flickr)

Total population: 4,551,482 (16 December 2014)
GDP per capita: US$41,555.75 (2013)

New Zealand is one of the 2 non-European nation to make it to the list. A free market economy has led to the ease of doing business in this Oceania country. It has fared well this year in the Finances in Retirement index moving from 88th to 5th place due to lowering of tax pressure and improvement in other factors such as non-performing loans. People in New Zealand can also access to public healthcare for free – something that is important for retiree.

Interesting facts: Besides picturesque landscape, New Zealand is famous for its indigenous people, the Maori as well as their native bird, Kiwi. And make sure you catch a game of All Blacks in Westpac stadium and do some hiking at Mt Cook’s in your free time.

* In 2010, New Zealand Immigration launched a pilot project aimed at attracting Singaporeans migrants. You might want to check with their immigration should NZ be the ideal destination of your retreat.

10. Luxembourg

(Image Credit: Dennis Jarvis, via Flickr)

Total population: 520,672 (July 2014)
GDP per capita: US$111,161.69 (2013)

With a GDP per capita of US$111,161.69, Luxembourger are the wealthiest people on the planet despite being severely affected by the global financial crisis. Luxembourg has the second largest fund administration industry and thrive on the banking sector. It scores in the Material Wellbeing Index with almost ideal income equality and relative low unemployment rate of 5% in 2014.

Interesting facts: If you are claustrophobic and want a get away from busy roads, packed trains and high rise HDB flat, you may be interested to know what Luxembourg is the least populated country in the European Union – with 194 human inhabitants per square kilometers. (vs 7,148/km² in Singapore) And it’s not only human who love to set foot there, big global companies like Skype, Amazon, Rakuten and Paypal call Luxembourg home – also known as a tax haven.

So where does Singapore stands?

Singapore is ranked 41 in the list. While Singapore fared well in the Finances in Retirement Index, it need to focus on improving the quality of life. Singapore achieved a Happy Planet Index (HPI) of 39.8 which put us in #90 out of 151 countries analysed. Perhaps it is time for us to work on achieving a better work-life balance to avoid being a nation packed with disgruntled and overworked citizens.

5 Fun Family Activities in Singapore under $10

Who says that no family activity in Singapore is cheap? Think again! In fact, some of them are FREE! From free shows to art appreciation, here are 5 Family Activities (under $10) that you will surely enjoy.

1. STARGAZING

Be amazed by the stars and constellations you will see in the Omni Theatre at the Singapore Science Centre. Gaze over the vast universe from 7:50 to 10 pm every Fridays through a series of telescopes. Best of all? It’s FREE.

2. PICNIC BY THE GARDENS

In Singapore Botanic Gardens, your family may stroll over the Rain Forest Trail to see various forest animals (e.g., Giant Mahang and Common Tree Frog) ,and forest plants (e.g. Rattan and Meraga Tree) or the National Orchid Garden to see the beautiful orchids. The entrance for the National Orchid Garden is S$2 for adults and S$1 for children and senior.

Image Credits: Edwin.11 via Flickr

You could lay down your blanket almost anywhere in the Gardens, but one of the nicest spot is probably at Palm Valley and Symphony Lake, especially when they’re staging one the regular free classical music concerts.

3. HEALTHY OUTDOORS

Cycle and jog across the lush greeneries and wondrous beach view of the East Coast Park. If you don’t own bike, you may rent one for S$6. You may also indulge in a family barbecue here, and stay on your own tents to cozy up.

4. ART APPRECIATION

Be absorbed with great contemporary art in the Singapore Art Museum. Their Learning Gallery especially caters for the young minds. It is a rich visual sight that your children don’t usually see. The admission is free for citizens and PRs, otherwise you may check the prices here.

5. WONDERFUL LIGHT SHOW

Enjoy the free “Wonderfull Show” at the Marina Bay Sands every evening from 8pm (full showtimes here). In here you will immerse yourselves in light, sound and music where your little ones will awe in delight. Remember to get there early to secure the best seats!

Image Credits: MarinaBaySands.com

You don’t have to spend too much to have fun with the ones you love. At the end of the day, your presence and quality time spent are more than enough to make them happy.

Watch Out for these 6 Grocery Store Tricks!

Have you ever experienced going into the grocery with a shopping list in mind, and ended up buying more? Maybe it is because you shopped hungry, or just because of the grocery’s marketing strategies. Some grocery stores have subtle, psychological, and clever tricks to make their consumers buy more. Thankfully, I’ve uncovered 6 Grocery Tricks that will help you save more on your shopping bill.

1. VISUAL ELEMENT: SHOPPING CARTS

Upon entering the grocery, you’ll notice the shopping carts. An invention designed in the late 1930s have grown in size over the years. Since larger purchases are easily done, the bigger the cart, the more money may be spent. So, if you intend to buy a relatively medium amount of items opt for using a friendly basket.

2. SENSORY ELEMENT: AROMA OF FRESHNESS

Imagine the smell of baked breads mixed with the fresh smell of flowers. Very enticing right? This is why newly baked goods and fresh flowers are placed near the front door. The goodness of smell will surely make you feel hungry, and keep your mood up!

Image Credits: Paul Swansen via Flickr

3. RIGHT SIDE PHILOSOPHY

Most grocery stores place popular items on the right side of the shelves to move shoppers from the left to the right. This is because all items throughout the store are strategically placed to follow the “right” path.

4. KIDS MATTER

Another strategy is to target the children’s interests because they play an influence on what goes inside the carts. Supermarkets purposely place cereals, toys, and sugary treats at a kid-friendly level. So, do not give in to what your kid wants (unless he/she makes a huge and uncontrollable scene) or you can just leave your kids at home.

5. HIDDEN ESSENTIALS

Essentials such as dairy, bread, eggs, etc. are placed at the back of the store and far away from each other so you’ll be forced to travel the whole store to get it. Once you have travelled, you probably bought more that what you’ve needed. By knowing this trick, you may start with going straight to the back with your shopping list on your hand to keep you on track.

Image Credits: Redjar via Flickr

6. LASTLY, THE NUMBERS GAME

Instead of putting a price of, “$4” for example, they will put an irrational price of “$3.99 or $3.96” to make you think that you saved more money by scoring a better deal. What’s more? They will also put that if you buy more then you will save more! It’s these small details that may sound silly but it surely works.

Sources: Grocery Coupon Network, Idea Finder, & Lifehacker

Grocery stores, like any other businesses, are looking for making profit. This is why they have used strategies and psychological obstacles to entice you to put more items in the cart. I hope that by knowing these tricks, you will be able to shop smarter and save more!

Why 3 Bank Accounts Are Better Than 1

When it comes to saving, most consumers prefer simplicity as the best approach – that is to put their money in the bank account that offers the best interest rate. However, if you want to save money fast, it is best to have more than one bank account. No, you don’t get three times more interest, you are just separating your needs and your wants and to stay on track with your budgeting plan.

1. Die-die-must-spend account (The Needs)

Unfortunately, i don’t think you can survive a month in Singapore by not spending a dime. Assuming you are a full grown adult, some costs such as transportation and food is unavoidable. With an iPhone or Samsung phone on your hand, you can’t escape from paying your phone bill either. Since these costs are compulsory and belong to your needs, consider creating a primary account for such expenses.

Since you will be spending the money here often, we recommend you to check out the 3 main banks in Singapore: DBS/POSB, UOB & OCBC as they have the most number of ATMs in Singapore. Convenience is the key.

2. Indulgence account (The Wants)

After a long week of work, most people look forward to Friday. TGIF! As a pat on your back, you reward yourself by catching the latest blockbuster or dine in your favourite restaurant. These are wants that are often guilty of wiping out your month of hard work.

It is therefore important to separate your needs and your wants.

The approach here is to allocate a fixed amount of your salary to your wants and spend within the limits. Anything more than 10 percent is extravagant. While you may enjoy your current lifestyle, you may end up slogging a few more years before you can retire.

For your indulgence needs, look out for the bank that offers the best rewards or rebates for debit/credit cards as banks usually have some tie-up with cinemas, restaurants and entertainment outlets. If you decide to take up a credit card, make sure you pay your dues in full promptly.

3. Forget-about-it account (Retirement/Long Term)

As the name suggests: you create, allocate and literally forget that you have this account. This account is created for the purpose of saving for the long term or retirement. By long term, we mean your bank book ages till it turns yellow or at least been kept for a couple of decades.

While we don’t recommend putting all your savings in a bank as it yield paltry interest that gets eroded by inflation, you want your emergency funds to be guaranteed. Also make sure at the same time you have another pot of money that is working as hard as you do.

We recommend that you choose the bank that offers the highest interest rate. (and the one with the least number of ATMs in Singapore) Keep the ATM card out of your wallet and let it collects dust.

But how easy is it to keep separate accounts? Easy-peasy. Set up automatic transfer to divert the funds the moment you receive your monthly salary. This way you can spend with a piece of mind and at the same time you are sure your retirement funds is in place.

Unless you have the discipline, having 3 separate accounts prevent impulsive splurge and help you save money faster – without you even knowing it.

7 Ways To Stay Fit For Cheap

Do you want to stay fit, but get turned off by expensive gym packages and memberships? We feel you. Keeping your body and mind healthy doesn’t have to make your wallet suffer. Here’s 10 ways you can stay fit without breaking the bank.

Run

This might seem like a rather obvious no-brainer, but many of us forget to even consider it. All you need are some ratty old running shoes, and yourself! Just head out the door, lace them on, and start moving those feet. This is probably one of the cheapest ways to stay fit. If you find that your neighbourhood is not runner-friendly, just head down to the nearest park and get your running fix! Plug in to some good running music such as ‘Eye of the Tiger’ or ‘Happy’ from Pharrell William for motivation.

Get a skipping rope

While skipping rope might remind you of your primary school days, a skipping rope work-out is definitely not for the faint hearted. Long, intense periods of continuous skipping help you burn calories like no one’s business. Best of all, you can stay fit while watching your favourite TV shows! Anyone up for watching The Noose?

Use Youtube videos

You could always buy workout DVDs to use at home, but why buy when you can get it for free? There are tons of workout videos on Youtube you can use to stay fit, so just take your pick from the wide buffet of options! All you need is a computer and some open space in your house, and you’re good to go.

Get dumbbells

While dumbbells might quite be quite expensive, they’re actually a really good investment in the long run, because you’ll be using them many, many times, and you don’t actually need to go to the gym to stay fit again, because you can do a huge variety of effective exercise with just these simple weights. Get those with multiple weights, so you can adjust them if need be, depending on the level of intensity you want for your workout.

Use exercise corners

There are probably one of these in your neighbourhood, so make good use of them. With pull-up bars, step-up benches and more, many of these exercise corners have a many of the simple structures you need to enable you to do a variety of exercises, so you can stay fit for free!

Swim

Just head on down to your local swimming pool, put on your swimming attire, and jump in the pool! The public pools around your neighbourhood have a really cheap entrance fee ($1 on weekdays, $1.30 on weekends), so there should no reason for you not to take advantage of them to stay fit. Just hop on down the morning before work or school, and you’ll have the whole pool to yourself.

Push-ups, sit-ups, crunches…you get the idea

If you really don’t want to spend money on anything at all, and don’t even want to get out of the house, why not just do some calisthenics at home. Simple push-ups, and sit-ups can be done anywhere around the house. Why not make use of your home furniture as well, like using your table or chair to do some dips. It all depends on how creative you are in making use of what you have to stay fit.

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