Some things in life are worth spending a little time and effort to prepare, and retirement is certainly one of those. After decades of hard work, not you deserve the best you can get? For many Indonesian expatriates based, which could be right on their doorstep - or if you are based in Jakarta, a short flight away
retreat everywhere is full of options and excitement, you! 'Re well prepared. But abroad, there may be even more options - you probably know people in many parts of the world, may have lived in many parts of the same world, and be used for standard / the different lifestyle than you would in your home country.
While Jakarta itself is not known to have a particularly pensioner scene rocking (outside of course BATS), many places in Indonesia fit the bill well. Bali is the obvious choice with its laid-back, "every day is Sunday" lifestyle; Yogyakarta and Solo are choices increasingly important; Perhaps you have discovered your own secret slice of paradise somewhere.
But apart from deciding where you want to spend what should be the most relaxing years of your life, you'll also need to decide how you will get there. Visas, income, health and safety should all be top of your list.
First, the visas. The last thing you want is Pak Polisi interrupt your siesta in the afternoon to tell you that you be deported. While "legally" his retirement in Indonesia is far from being as easy as other countries in Southeast Asia (including Malaysia), there are many resources in place to do so.
A specific retirement visa (which works in a similar way to a KITAS) is the standard way to go; Other options are a recurrent social or spouse visa Visa in your situation. There is a simple rule to follow with any visa application in Indonesia use an agent. Yes, it will cost a little more, but it will save you a lot of time and hassle.
Even if you think you prefer to save a few hundred dollars by doing it yourself, do not do it. When it is up for renewal in a few years time, you may regret not using an agent while hobbling the steps with your walking stick.
Once you're legal, you must adjust your income. Fortunately, you have prepared by some of your salary each month on while you win so you have a nice pot to fund your retirement. If you are currently not saving money every month to start. It is very important.
At retirement, the most important thing is to ensure that your income does not cease. That means planning and managing your investment portfolio appropriate for you and your financial advisor. Make sure it is not in anything too risky -. And by that I mean will not be too volatile, is not likely to become illiquid, and are not likely to disappear
Ideally, you will receive your income from a fixed annuity and guaranteed or consistent investment returns - not gradually depleting the amount of your capital, which becomes especially dangerous if you end up living long. Make sure you live within your means.
In Indonesia, you must also take into account the exchange rate - which is notoriously difficult to fully prepare for. One of the best tools available to you is fixing your rate in advance - especially for regular remittances, for example from a pension from overseas - so at least you get an income fixed for some time, perhaps with annual or biannual reviews
.health provisions are next. Some of us are countries with a strong tradition of not letting people die in the street, even if they can not afford private care. Indonesia is not one of those countries, and common sense and statistics say that almost all pensioners will fall ill and need medical treatment at some point.
If you are to rely on medical insurance to cover you in case of serious illness, which is fine - but beware. While many large insurers will be an agreement "guaranteed renewable" as part of their policy - which means that they guarantee to cover you as long as you keep paying the premium -. It does not guarantee or set prices
Most insurers massively increase the price of your coverage when you turn 65. Massively. Solid So you not consider it worthwhile, and decide to self-insure. Make sure you have plenty of money available that is easily accessible in an emergency.
Finally, security. Indonesia is not a particularly dangerous place (in my opinion), but the hidden risks are usually the worst. Remember that you do not really "rights" as a stranger; rules and regulations can change dramatically and suddenly; and no one in a position of authority cares about you or your welfare.
For this reason, even if you spend the rest of your life in Indonesia, keep some money offshore somewhere. Be nice to your maid. Get to know your local neighborhood senior person. Maybe even wear batik on Friday.
And whatever and wherever your retirement will make sure that you save for it - you'll be glad you did, and you'll always wish you had saved more ...