Vietnam retirement

Should you retire in Vietnam?

It is not as scary as it sounds.  The country has been stable and getting more and more open for forty years now and shows every sign of stability.  Only China now is a fly in the ointment and trouble with them is unlikely in spite of what you hear.

Still, for most people, I would say, no.

The main reason is that the government does not seem to understand the value to the economy this could represent, and many of the police and other government officials see pensioners as "parasites" (even though they pay their own way and bring money into the economy).

Hence one cannot buy property and must pay rent, losing any capital gains as the rent money goes down the drain.  Of course one might buy the property in a native Vietnamese name and sign with them a long-term lease:  I am not sure if that would be effective.  I have to say though that what you get is worth the rent.  You can get a six bedroom modern place with real luxuries for half the rent you pay in a US city for a piece of junk.

The biggest problem though is a constant financial drain and risk involved with maintaining a good and current visa.  You even have to leave the country every now and then and apply while overseas, and it isn't anywhere near as cheap as the official fees -- you can't do it yourself and have to hire others.

Other than that Vietnam is a retirement paradise.  The beaches and mountains and shopping and culture and food (both Vietnamese and pretty much anything else) are all optimal.

It is not as inexpensive as it once was -- the local currency is, it seems, steadily devalued, and prices do go up steadily.  Still it is one of the least expensive countries around.  The other thing is the culture puts a high prestige tag on those who help the elderly -- it is not the low-class job as seen in the States -- so people who want to do it are around, in particular if one has medical or locomotion problems.

As to health care, I am of the firm opinion that what is available in the States is much worse than what is available in Vietnam for a fifth or less the cost.  You do have to pay for health care up front, but it is affordable, even serious things -- and they have modern facilities and well-trained doctors.  The thing is the doctors are not afraid of law suits and insurance companies and so on and so do what they think (and you think) is best for you, so long as it is evidence based.

With the exception of a few really dangerous or habit-forming drugs, you don't really need a prescription for most things, which makes the process much cheaper.  Pharmacists there are able to hear you out on symptoms and recommend things, or recommend going to a clinic or hospital.  For minor and moderate problems, in other words, one does not need to see a doctor.

Much the same applies to dentistry.  Good work (as confirmed by my US dentist) at a fraction of the cost.  Work (major bridges and root canals all over my mouth) that was quoted to me in the States at $40,000 cost me a little less than $1,000.  It is really nice to have a full set of teeth again, and I could afford it.

Still, you have to remember that it is a third-world country.  Actually more "second" world -- it has made major progress.  It is also much safer than almost anywhere else in the world, at least as regards crime (not as regards traffic).  It has excellent airports and some cities are cool and others beach paradises, and even HCMC (formerly Saigon) has neighborhoods that are wonderful (although traffic is difficult and a car would not be advisable -- but cabs are not expensive -- fifteen dollars for one end of the city to the other -- it is a very large city).

Oh -- and almost everyone under a certain age who is educated speaks English and Vietnamese uses a Roman alphabet so one does not get lost the way one does in China or Korea or Japan or Thailand.