So I know the question of retirement in Taiwan has been bandied around a few times but mostly by people who haven’t actually lived in Taiwan or sometimes have even confused Taiwan with Thailand. My wife and I lived in Taiwan (Taipei city and county) for 8 years on and off from 1998-2010. Initially it was for Chinese study, but after we both taught English (yes, Engrish teachers, I know), until we moved back to Winnipeg, MB, Canada in 2010. I think we have a very good idea of what living in Taiwan entails, but we haven’t lived there in 8 years now, so maybe things have changed …
In 6 years ( when I am 50.5 years old), I can retire with a $30000 CAN (defined benefits) pension per year ( currently around 23300 US/680000NT ). This ends up being around 2500 CAN a month, which is around 60K NT a month ( a little less right now).
This is a guaranteed, government pension, but it reduces by about $8K at 65 . However, we should have around $300K Canadian or so saved in a tax free account (TFSA) at 50. We don’t want to touch that though, so it can sit and compound for 15 years, when my government pension gets reduced. We will also have about $50K CAN saved for my son’s schooling, be it international School and or University. We will also have some money from selling our house, but how much is questionable - could be anywhere from $50-100K CAN, which could be put towards University as well.
So, this is what my wife and I are considering - 3 locations for retirement at 50: Taiwan, Malaysia ( focusing on Penang), and Mexico ( probably Puerto Vallarta). All of that places we have been to, with the exception of Penang. We have been to Malaysia several times though, and we loved it.
Malaysia and Mexico both have good retirement visa options, but you can only work in Mexico ( working is not allowed on the Malaysia visa). I likely wouldn’t need to work however, but I might want to, even if it is just to pay for a trip of some sort … In Taiwan the plan would be to have a work visa where I would work whatever the minimum is for a visa, do that for 5 years, and then get the APRC. Taiwan has it’s fair share of issues, the biggest of which is school for our son, who would be 11 years old when we are thinking of the move.
Anyways, enough of my thinking out loud … I do have another option, which is working another 5 years, and getting a $40K CAN pension … But that would require another five years of working often 12hr+ days, 5-6 days per week, in an incredibly high stress environment … If I can find a spot in my company that pays the same but is a regular day job, then maybe.