The worsening traffic in Metro Manila has gotten me lately to seriously think about where I want to retire. In fact, it has become so bad that I started to think about pre-retirement: where I want to live even before I retire.
Certainly, certain cities in the Philippines are good candidates: Cebu, Davao, Bacolod, Tagaytay, Baguio, Sta. Rosa, Iloilo, Dumaguete. Some have worse traffic than others, but definitely better than Metro Manila. They feature modern amenities but still retain a laidback feel. Some offer a cooler mountain climate while others boast of the warm beach breeze. Really, who needs the overcrowded, chaotic, and crawling streets of Metro Manila? I could just play local tourist once in a while.
Cities from other countries also beckon, mainly because I’m getting tired of the humidity and natural disasters of the Philippines. South American countries like Ecuador, Costa Rica, and Peru are always on the top listings of where to retire. And so do the Scandinavian countries like Norway, Sweden, and Finland. Canada, Australia, and New Zealand are also favorites. The climate is temperate, the crime rate is low, and the happiness levels are high.
So how to choose where to retire (or pre-retire)? If you too are looking at options, here are some factors to take into consideration:
- Cost of Living. Unless you are a multimillionaire, you would want to live where you can stretch your retirement savings with the lifestyle you want. So you need to look mainly at housing prices or rent, which will eat up much of your budget. Check into the cost of utilities, groceries, and food. The Philippines remains one of the countries with a relatively low cost of living. Move out of Metro Manila for cheaper living expenses. If you want to live overseas, you’re better off in South America or similar Southeast Asian countries like Thailand or Malaysia.
- Climate. You can live in the few cool parts of the Philippines like Baguio or Tagaytay. Or live somewhere that is not so urbanized, with plenty of green space, clean air, and open skies. You can also migrate somewhere with a temperate climate all year long, like Australia, New Zealand, Costa Rica, Peru, or Ecuador.
- Health Care. Since you are looking at long-term retirement, health care is paramount. Make sure the place you are considering has topnotch healthcare facilities. Consider also the cost of medicines and insurance.
- Population. One more problem with living in a megacity is overpopulation. There is just too much overcrowding in the streets, malls, hospitals, schools, practically everywhere you go. With the never-ending migration to megacities, it eventually leads to other problems like pollution, crime, flooding, and social unrest. Why not live in a small town here or abroad where you don’t feel constricted and where you actually know some of the people in your community?
- Peace and Order. Another major cause of stress and fear is crime. You want to live in a community where you feel safe, right? Check the crime rate first. Davao City, for example, has been dubbed the safest city in the Philippines. Abroad, countries in the Scandinavia and the Pacific are generally peaceful.
- Economy. You want to live in a place where there is a vibrant economy, preferably with plenty of thriving small businesses and not just one or two mega employer. It would be great if there are a lot of cafés, restaurants, cinemas, parks, book stores, art galleries, etc. that contribute to your quality of life. You may even want to put up your own small business for extra income, so see if the place you are considering ranks high in ease of doing business lists.
- Natural Disasters. A quality retirement means a stress-free one. While there is hardly a place on earth that is not hit by natural disasters, there are definitely areas that are less prone or less vulnerable from earthquakes, typhoons, floods, etc.
- Infrastructure. A simple life does not mean giving up on modern living, which requires reliable and affordable sources of electricity, water, communication, and the Internet. You also would want access to a good airport, good roads, and good public transportation. And that means little or no traffic at all. Ideally, look for a walkable city, where everything you need is just a stone’s throw away.
- Education. By the time you hit your 50s or 60s, you may still have a child in college, so consider also access to excellent universities. Living in a university town is a good option, since you also get to attend adult education classes and participate in extra-curricular activities.
- Community. Don’t forget that the kind of people you are surrounded with will contribute much to your happiness during retirement. Aside from family, you would want to have at least a small circle of friends. So check if there are local churches and civic groups that fit your preferences. Research on things like gender, racial, and income gaps. Obviously, the smaller the gaps, the happier people will be. You can find out also about how friendly and welcoming people are.
If you will spend 20 years in retirement, that is roughly a quarter of your life. You spent the first quarter learning, the second quarter earning, and the third quarter accumulating. You should spend the last quarter enjoying your life, living it to the fullest. So choose carefully and wisely where you want live when you retire.
Photo by Eddy Klaus on Unsplash
