Australians retiring on the cheap in Asia
RETIRING overseas to Asia, where the cost of living can be anywhere between 50-80 per cent cheaper, may be the best way for retiring baby boomers to make the most of their less than spectacular superannuation savings.
Sell up, Pack up and Take Off by Byron Bay writers Stephen Wyatt and Colleen Ryan is a practical guide to doing just that.
As well as the cold facts, there are stories of those who are already living well in Asia and Europe, making their savings go further and often living in better houses, with a better social life, more luxury and more adventure.
Not only does it make sense financially for these retirees, but many also take on a new lease on life.
"They are going out every night and almost without exception people said they felt younger," said Stephen.
The couple came up with the idea for the book when they were working in China. They travelled extensively in south-east Asia and met Australians who had retired there.
"Many took advantage of specialised retirement visas that are becoming more available, such as the 10-year Malaysia My Second Home visa," said Colleen.
Their book contains inside info on the tricks and traps of buying or renting a house, getting a visa and perhaps most importantly, how to manage your health insurance, pension, super and tax
"The number of boomers finishing their working life over the next 25 years is going to go from three million to eight million," said Stephen.