Looking forward to Retirement

lacaband

Hi all, My names Pete. My wife and I are in our early 60's and thinking maybe we could split our retirement between Melbourne and Bali. Not sure about time frames, maybe 6 months in each place? 8 months Mel, 4 months Bali? 9 & 3? Do we buy a villa and rent it out half the year or do we just go for a long term rental so we can move around a bit if we want? We really want to keep our Melbourne home. We've been to Bali probaly 8 times between us and have also spent a lot of time in Thailand with side trips to Vietnam and Cambodia and the lifestyle appeals to us but we clearly haven't spent an extended period in any country. Lots of questions I guess but Covid means we are looking at a couple of years before anything happens and we're not in a hurry anyway. Looking forward to using some of the resources on this site and chatting to expats and like-minded people. Cheers, Pete.

Mark

Hi Pete, welcome! If I were in your shoes I'd consider renting a place for 4-6 months to see if you really like the area before thinking about buying. Also, buying (ie, long term lease) and renting, while not a bad idea, throws up some issues in terms of legal regulations and tax (not to mention villa management, repairs and maintenance etc), so you may want to spend some time on the ground to understand these issues better before making an investment. You're correct about Covid. No offshore social or reasonably priced retirement visas at the moment (you need an agent for a retirement visa, and I've heard they are currently charging a fortune for offshore applications), and I suspect it will still be at least 3-6 months before social visas get issued again. In the meantime, fire away with your questions. Lots of experience on this site.

Markit

IMHO there are 2 main types of people that come live on Bali: [LIST="1"] [*]Spur of the moment, no real idea of what awaits them, open for an adventure and looking to see new things and meet new people. [*]Those that get all their ducks in a row first, know exactly where they want to live and how. Have enough finances to cover most eventualities and are looking to settle down. [/LIST] In my almost 15 years here I can tell you who does the best here, hands down.... 1 Number 2 are basically looking for a cheap old folks home with benefits (looser regs/laws) good climate, cheap staff to do all those unpleasant things. They tend to last between 6 months and a year unless they've burnt all their bridges then they are miserable and hate it until they drop or can sell up. The reason? Boredom! oh, and missing all their friends and kids. Oh and also they end up hating each other too. Why? No experience of living together (both worked full time before) and after 30/40/+/- realize they can't stand each other 24/7 :) If you belong to group (1) then sort out your basics - food likes (bring cheese, shed loads of cheese) housing (don't buy on the beach no matter what you think first), clothing - 2 pair board shorts (thin), several tshirts, swimming trunks and sandals - done. \ Good luck P.S. bear in mind the dream of living on Bali is usually only held by one half of a pair and the other will go along for 6 months to a year before she (yes, she) realizes she would rather live at home, near her kids and shopping malls and just can't stand the misogynistic style of a 3rd world country where typically women are allowed to walk in front of the camels only to find the land mines first.

harryopal

Markit wrote ".......Oh and also they end up hating each other too. Why? No experience of living together (both worked full time before) and after 30/40/+/- realize they can't stand each other 24/7 :) ....."

It doesn't matter where you live, the reality facing retirees is that suddenly, if the husband was the sole bread earner, he's now in the house all day and upsetting a routine that the woman has enjoyed for many years. That is why the shed has become such a popular recourse for many men... he is out of sight and out of mind. That way the frayed relationship might just hold on. Live it seems is like the great expeditions during the period of historic exploration. (I love journals of exploration expeditions.) The parties start off with great jubilation and expectations. Not so very far down the track the expedition splits into factions which begin hating each other. Not to say that Pete and wife won't set off on their adventure and remain great friends. But, as Markit, suggests, there will be trials and icebergs along the journey. Good luck. After all life is an adventure.