Retire In The World’s Cheapest And Most Beautiful Countries

In 2013, Live and Invest Overseas and International Living examined the best countries worldwide where you can retire for S$1,760/month or less.

Live and Invest Overseas is a trusted online publication dedicated to giving information on retiring, living, and investing overseas. With a similar goal, International Living, established in 1979, had surveyed experts and contributors to get the cost of living information of countries around the world. These are the latest large-scale data available to date:

1. NICARAGUA, CENTRAL AMERICA

Nicaragua, a multiethnic country of approximately 6 million people, is one of the most beautiful countries in America as it boasts its Pacific coastline, Caribbean beaches, and freshwater lakes. You can live for about S$1,350 a month inclusive of utility bills (no air-conditioning), groceries, entertainment, rent, maid (3 times a week), and health insurance. Not a bad way to retire!

2. PHILIPPINES, ASIA

Philippines, a picturesque country consisting of 7,107 islands, ensures that you can enjoy a low-cost island life once you retire. For about S$1,410 a month, you can avail services such as electricity, water, gas, cable TV, Internet, grocery shopping, rent, and entertainment costs. Relax in the beach and reminisce the old times while sipping a fresh coconut juice that will cost you lest than a dollar!

Image Credits: Brian Evans via Flickr

Image Credits: Brian Evans via Flickr

3. MALAYSIA, ASIA

How about retiring close to home? In Malaysia, you can retire for a cost of approximately S$1,450 a month. This is inclusive of utility bills, handphone bills, Internet services, maid (4 hours/week), transportation, health insurance, and entertainment. Keep your healthy physique by buying a bagful of fruits that will cost you only S$5.

Image Credits: Tatiana Vdb via Flickr

Image Credits: Tatiana Vdb via Flickr

4. ECUADOR, SOUTH AMERICA

Aside from English, if you are fluent in Spanish then, you may consider living in Ecuador. With mostly Spanish-speaking citizens, Ecuador known for its rich ecosystem that hosts many species of plants and animals. For approximately S$1,760 a month, you can indulge on utilities, grocery shopping, health insurance, maid (2 times a week), Internet services, cable TV, handphone services, entertainment, and transportation. The top choice of most American retirees is the wonderful city of  Cuenca due to its glorious weather and affordable real estate.

Image Credits: andresmbernal via Flickr

Image Credits: andresmbernal via Flickr

Age gracefully by retiring in a comfortable place where you are at peace with your finances! The world is your oyster. 🙂

Sources: 1 , 2, and 3

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Money Management Tips From Around The World

Diversity is rich in meaningful insight that extends to financial values and money handling practices. Know more about the 5 money strategies from around the world that you can use in your everyday life…

1. CHINA: MAKE FRUGALITY YOUR MANTRA

China has a strong culture of saving. Being raised by Chinese parents, you will feel that saving at least 50% of your income is normal. In fact, China’s government has saved about 51% of their GDP in 2013, according to the International Monetary Fund. Make frugality your mantra by saving electric bills through charging your hand phone at work and by unplugging everything after usage.

2. ASIA: TRY TO BARGAIN ON ANYTHING

I cannot be the only one who constantly asks if there are discount options or if there is a better price offer. In Asian countries, negotiating is a common practice especially for those who are purchasing in the market or flea. Whether it be computers, bed sheets, or apples…there is always a better price and all you have to do is ask politely.

3. GERMANY: SHY AWAY FROM CREDIT

Germany has a deep aversion towards debt and an emphasis on responsibility. This is why they prefer to pay cash than credit. Having to pay with the money you already have is a wise decision that is accepted by most. This preference for cash is evident as they use one of the most valuable currency denominations in the world – the €500 note.

4. JAPAN: VALUE ONE’S MONEY

In Japan, money is handled with respect and is kept clean and crisp. This is why it is common to give cash as a gift, especially for significant life events such as weddings and funerals. Interestingly, they value money so much that they sell anti-bacterial wallets to sterilize the bills. Treating money with profound respect helps the saver to resist the urge of spending.

5. GUATEMALA: ASK FOR THE FAMILY’S OPINION

Most countries of Spanish decent have close family ties.

Image Credits: Alfonso Lomba via Flickr

Image Credits: Alfonso Lomba via Flickr

This is why before making huge purchases or monetary decisions, some Guatemalans ask for their family’s advice. This is a good tip because you never know who has a connection, a friends-and-family discount, or even an extra of the item so you do not have to purchase.

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How Much To Tip When Traveling In These 10 Countries

Tipping is a practice of gratitude and recognition to those who have provided you with excellent service. In Singapore, they automatically have service charges in restaurants but you can still leave about 5% for great service.

Not all countries welcome tipping. In fact, some parts of China and Japan may be offended when you give them tips. Before leaving your hotel, it is important to research on the country’s tipping practices. Here are 10 countries you can start with

1. AUSTRALIA

Tipping of 10-15% of your bill is appreciated for waiters and waitresses especially those who are serving you from expensive restaurants. It is customary to tip the hotel bellman at least AU$1 per bag.

2. FRANCE

A service charge of 15% is always included in your restaurant or bar tab. So, typing beyond that is not a must. For taxi drivers, you may tip at least 1 Euro and the hotel bellman should get at least 1 Euro per bag.

3. GERMANY

Like France, a service charge is included but, you may leave at least 5-10% of tip for good service. At least 1 Euro should be left for the hotel’s bellman per bag and the hotel’s maid per day.

4. HONG KONG

Tipping is certainly acceptable in Hong Kong. Offer your bellman at least HK$2-3 per bag.

5. ARGENTINA

You may tip at least 10% in restaurants but, do not tip your taxi drivers. Your bellman should get at least 2 Pesos per bag.

6. SOUTH AFRICA

Tip at least 10% in restaurants and taxis for gratitude. Group tours should receive at least R 10/tour guide while private tours should receive R 50/guide for half-day tours and R 100/guide for whole day tours. Hotel maids should get R 50 per day while the hotel bellman should get about R 5 per bag.

7. UNITED ARAB EMIRATES

Consider at least 10% of tip for restaurants. Your bellman should get at least 5 Dirhams per bag.

8. UNITED STATES, CANADA, AND MEXICO

It is common to tip the person who assisted you with your baggage in the airport or the hotel with at least US$1 per bag. Bellman should receive about US$1 per bag too. And, the hotel maid should be tipped at least US$2-5 per day.

Image Credits: Tax Credits via Flickr

Image Credits: Tax Credits via Flickr

Since some hospitality workers are paid less, they will truly appreciate a tip. Tipping per day will not only be a gesture of gratitude but it will help you to receive continued shower of good service.

Source: Fodors

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