Surviving solely on a pension when you retire in Bali can be challenging, but it largely depends on your lifestyle,
expenses, and the amount of your pension. Bali is a popular destination for retirees due to its affordable cost of living compared to many Western countries, but it's important to consider several factors.
Firstly, the amount of your pension will greatly impact your ability to sustain yourself if you retire in Bali. If your pension is substantial and covers your basic living expenses, such as accommodation, food, transportation, and healthcare, you may be able to live comfortably. However, if your pension is modest, it might be more difficult to meet all your needs and maintain a comfortable lifestyle when you retire to Bali.
Secondly, the cost of living in Bali varies depending on your preferences. While basic goods and services can be relatively inexpensive, certain imported or luxury items may be costly when retiring in Bali. Rent is another important consideration. If you choose to live in popular tourist areas like Kuta, Seminyak, Canggu or Ubud, rental prices tend to be higher compared to less crowded areas.
Additionally, healthcare is an essential factor to consider. While Bali has healthcare facilities, the quality may not match the standards of Western countries. When you retire in Bali, it's advisable to have health insurance that covers medical expenses, including any emergencies or repatriation needs.
To make your pension stretch further, you can adopt a frugal lifestyle by exploring local markets for affordable groceries, using public transportation (limited) or motorbikes instead of taxis (GoJek or Grab) and dining at local warungs (small eateries) instead of tourist-oriented restaurants where a lunch can cost you less than Rp50,000 including a drink.
In summary, surviving on just a pension whe you retire to Bali Bali is possible, but it requires careful budgeting, consideration of your lifestyle choices, and a realistic assessment of your pension's adequacy. It is recommended to conduct thorough research on the cost of living and create a detailed budget, and consult with financial advisors or expatriates who have experience living on a pension in Bali to make informed decisions. BaliInsight Living offers a "cost of living" budget spreadsheet for members to budget their outgoings when retiring in Bali.
Bali Insight Living offers a variety of resources for members including budget checklists which can indicate the current cost of living dependent on how you expect to live when you retire in Bali. The website membership area is an amazing resource for those planning their retirement in Bali with useful tips and recommendations on many aspects of day-to-day life as well as a comprehensive directory for everything you will need.
If you are considering trialing a retirement in Bali, and are now planning your retirement, then talk to us at Bali Insight Living by signing up and scheduling a no-obligation 20-minute call to learn a bit more about your expectations and how we might be able to assist you. Don't delay and sign up today!