Excerpt from the article of International Living "The top three best places to retire overseas for a low cost of living"
The Philippines as one of the best retirement destinations is once again highlighted in the article from the International Living entitled “The Top Three Best Places to Retire Overseas for a Low Cost of Living” published on 07 October 2013, citing in particular a top score of 100 in the cost of living category. Also mentioned in the article are the Philippines’ special retirement visa and other retirement options.
The article of International Living (http://internationalliving.com/2013/10/the-top-three-best-places-to-retire-overseas-for-a-low-cost-of-living/) is as follows:
“Your quality of life could vastly improve if you retire overseas…and you could spend much less than you ever thought possible.
“In IL’s Annual Retirement Index 2013, 23 countries are covered ranking the best places to retire overseas today. Cost of living is one of eight categories in this Index and is an important factor for many who are considering overseas retirement.
“Coming in at number 15 overall in the Index, the Philippines received a top score of 100 in the cost of living category.
“In the Philippines, your dollar stretches (and stretches and stretches), and most expats live comfortably on $800 to $1,200 per month. This will fund a lot of luxuries, such as household help. In the provinces, the monthly salary for live-in maids is around $65. In a coastal town on Negros Island a haircut can cost as little as 77 cents.
“In many places the monthly rent for two-bedroom apartments and bungalows is $200 to $300. Private health care is inexpensive and the Philippines is a popular destination for medical tourism.
“The Philippines also has a special retiree visa. If you’re over 50 years old and have a monthly pension of $1,000, you can obtain permanent residency. Pensions and annuities are tax-exempt. And there are “retirement” options for the over-35s too.”
The other two countries featured were Thailand, which is the runner up, and Malaysia comes in third position under the cost of living category.