Gaijin Retirement in Japan

[ArmandV]

Elsewhere, Pachipro and I started talking about retiring in Japan. We both are in the same age group (50-something), so thinking about retirement is a necessary evil.

Although there aren't too many JREF members of our age group, if anyone has any ideas, suggestions, etc. on planning your "golden years" in Japan, feel free to jump in.

 

[Grandpa Frank]

WEIRD? Wrote a big reply and it never printed out?

Anyway, I would take health care in to account first. If you have a major stroke, heart attack, or serious cancer; can you get top notch treatment you can afford? Do you have a health insurance that will cover expensive perscriptions and a lot of treatment costs for a bad illness?
How about insurance on property in case of storm, flood, or earthquake?
How about support if you end up in a nursing home the last years of your life, say with dementia or alzheimers. If you become homebound with an illness, is there a support system to help you with day to day needs?
Man am I depressing!

Uncle Frank

 

[MajideSaiaku]

Are foreigners entitled to the welfare pensiony type system in place that old developed world codgers have access to?.

I would say make sure your finances are in order and you have some kinda savings and emergency plans in place.

Just as retiring any wher really, make sure you can keep yourself comfortable for your golden years.

Hopefully you'll inherit the Japanese long life and live on past 100 hehe.

 

[ArmandV]

Anyway, I would take health care in to account first. If you have a major stroke, heart attack, or serious cancer; can you get top notch treatment you can afford? Do you have a health insurance that will cover expensive perscriptions and a lot of treatment costs for a bad illness?
How about insurance on property in case of storm, flood, or earthquake?
How about support if you end up in a nursing home the last years of your life, say with dementia or alzheimers. If you become homebound with an illness, is there a support system to help you with day to day needs?
Man am I depressing!
Uncle Frank

If I were 9 years away from retirement age, I would be thinking about health issues too.

I presume that some Japanese companies offer some sort of health insurance coverage. I would probably work for a while until pensions and annuities kick in. By then, I should know what's available and plan ahead. I am already checking things out as I have plenty of time.

 

[Ewok85]

You wont get pension in Japan unless you have worked here and pain into the system. You can get health insurance (google NHI - National Health Insurance) in which you pay a flat monthly/annual amount and you pay only 20% of the medical costs should something happen. (Foreign health insurance you pay 100% and get refunded the difference later).

NHI also covers immediate family as well.

 

[ArmandV]

You wont get pension in Japan unless you have worked here and pain into the system.

I was actually referring to pensions (and annuities and Social Security) earned in the U.S.

 

[Uchite]

Although I am a long way from retirement, I think I would like to do the same someday. But as Frank stated there are many things to consider.

If you had your own business there, I would think there would be better chances for health benefits too.

If you have relatives there, that would be most helpful more than just going there alone and trying to retire.

By the way, how is the treatment of senior citizens in Japan? I mean that in terms of retirement homes. I don't advocate these, but I wonder how they are there if there are any. I have also heard so many mixed messages regarding Japan's health care system, but most of that criticism comes from gaijin who lived there, got sick of Japan and eventually came home. I find it hard to believe.

 

[Maciamo]

Anyway, I would take health care in to account first. If you have a major stroke, heart attack, or serious cancer; can you get top notch treatment you can afford? Do you have a health insurance that will cover expensive perscriptions and a lot of treatment costs for a bad illness?

I think that the health insurance is not so much a problem (easy to get for foreigners in Japan). What would concern me is the quality of medical services in Japan, they do not have the same reputation as Japan's electronics or automobile industry !

How about insurance on property in case of storm, flood, or earthquake?

Also a minor detail. I guess anyone who has bought property anywhere in the world knows how to subscribe to a house insurance. It's basically the same as anywhere else in Japan. Nevertheless, although earthquake insurance exist, there is nothing insurance company would be able to do in the events of a major earthquake in Tokyo (just too many houses to pay for).

How about support if you end up in a nursing home the last years of your life, say with dementia or alzheimers. If you become homebound with an illness, is there a support system to help you with day to day needs?

This is a more serious problem. Japan is already suffering from too many elderly people and not enough people to care for them. My wife's grandmother has been trying to enter a elderly home, but the typical waiting time after registration in Tokyo is minimum 2 to 3 years, in the most expensive places (longer in cheaper ones).

 

[Zenigata]

I'm approaching fifty too, and if I have to choose, I'd rather retire in a country where climate is warm most of the year and good health care is quite available and less expensive (e.g. Thailand).

 

[ArmandV]

I'm approaching fifty too, and if I have to choose, I'd rather retire in a country where climate is warm most of the year and good health care is quite available and less expensive (e.g. Thailand).

It may be "inexpensive," but is it quality care? Thailand is not exactly a First World Country like the U.S. and Japan.

 

[Pachipro]

Health Insurance would not be a problem as National Health Insurance is available to all residents as Maciamo stated so that would be taken care of. However, the quality of health care by Japanese doctors has been questioned in the past.

Property insurance if you live in an apartment or rented house is also available.

Retirement homes, now that's another matter as they are a rarity in Japan due to the custom of the eldest child caring for the parents and the stigma attached to those that do put their parents in one especially if they are healthy. As Maciamo pointed out, there is a waiting list for the few that are there. However, I prefer to not think about that at the moment as long as my wife remains healthy.

It has been reported here in the states on "60 Minutes" and elsewhere in the news recently, that medical care in Thailand hospitals, while being 1,000% cheaper than here in the USA, is a very viable alternative and one that is gaining momentum.

The reason given is that nearly 100% of the surgeons and doctors have been trained and interned in either Europe or the USA and are qualified to work there if they so choose. Also, the facilities of the best hospitals that treat foreigners are 100% state-of-the-art. India is also a great alternative for major surgery. Check out this article

Also here is another article dated Aug 16, 2006 on a US company that is encouraging it's employees to have surgery overseas to save on costs.

Should I myself ever need major surgery, either while living in the USA or in Japan, I will definetly consider and probably use this alternative to save on costs as the surgeons are no less qualified than those here or in Europe.

As far as pensions and such I will not be able to collect from the Japanese as I never put anything in. However, we have prepared saved enough that that will not be a problem in the long run.

 

[ArmandV]

Retirement homes, now that's another matter as they are a rarity in Japan due to the custom of the eldest child caring for the parents and the stigma attached to those that do put their parents in one especially if they are healthy. As Maciamo pointed out, there is a waiting list for the few that are there. However, I prefer to not think about that at the moment as long as my wife remains healthy.

Ouch! Is your wife in frail health? Who knows? She may outlast you.

I find "old folks' homes" to be nothing more than warehouses for elderly people. The Japanese way of taking care of their elders seems more civilized and humane.

I don't believe health care will be a main issue. Rather, the main issue about a gaijin retiring to Japan (especially if they don't have a Japanese spouse) is being allowed in without a job (afterall, you're retired) and finding suitable housing. It would be interesting to check with a Japanese consulate and give them the particulars and see what they say.

 

[Pachipro]

Ouch! Is your wife in frail health? Who knows? She may outlast you.

No, she's in excellent health as am I. I mentioned that I hope she remains healthy in that the burdon will fall on her to care for me should I fall terminal or something like that. We don't have any children and that bothers me a bit if I should retire there and end up outlasting her. But I guess I'll cross that brisge when I come to it. No use worring about it now.

 

[ArmandV]

No, she's in excellent health as am I. I mentioned that I hope she remains healthy in that the burdon will fall on her to care for me should I fall terminal or something like that. We don't have any children and that bothers me a bit if I should retire there and end up outlasting her. But I guess I'll cross that brisge when I come to it. No use worring about it now.

You can always adopt.

 

[GaijinPunch]

One thing that might come into play is that world wide income tax thing. It is my understanding that until recently, the law stated:
"any foreigner living in Japan over 5 years is considered a resident, regardless of their visa type. As such, world-wide income is subject to Japanese taxes". Of course, taxes in other countries are deducted, and certain things are taxed differently (capital gains).

I've also heard that the new law states "if any foreigner has lived 5 of the last 10 years in Japan..."

If you owned some stock or some type of yield-bearing capital abroad, you'll be taxed on it in Japan after joining the 5-year plus club. This might come into effect for people that own land abroad and rent, people that have a large portion of their net worth invested in funds (this is most people w/ a savings I think), or those that have some type of business interest abroad.

 

[Han Chan]

It may be "inexpensive," but is it quality care? Thailand is not exactly a First World Country like the U.S. and Japan.

Ther are actually some really first class hospitals in Thailand now. It is big business. The patients are rich Thai people and foreigners - both regional expat population and people who journey there from overseas to have economical treatments.

 

[ArmandV]

Ther are actually some really first class hospitals in Thailand now. It is big business. The patients are rich Thai people and foreigners - both regional expat population and people who journey there from overseas to have economical treatments.

That's interesting to know, but still I am set on retiring to Japan, not Thailand (at least at this point, I may change my mind in 5 years).

 

[DoctorP]

Your money would take you farther in Thailand! I've seen a few news stories about people going to places like Thailand, India and others for medical care. They said that the care is top notch, and that it is much cheaper than the US. Many companies are now offering to fly employees out of country for their medical care to save on insurance costs. Definitely makes you think...

 

[GaijinPunch]

As someone who has spent time in hospitals in: The US, Mexico, Japan, and Thailand, I can honestly say that Japan only ranks number 3. Thailand's medical system on the whole is much better. The doctor's know what they're doing and don't prescribe tons of placebo. In Japan, you can get a first class doctor, but you have to wade through a river of quacks to find him.

 

[klausdorth]

From Retirement to Medical Care...

...but I guess the problem exists for many of us "gaijins" over here. Hitting the 50 pretty soon I am also thinking about what to do once I go for retirement. Paid all my fees to the Japanese system, also put some money in the German pension fund but I guess all this is not gonna pay me more than roughly Yen150.000 (if I'm lucky). And that's definitely not enough for a secure, nice, and enjoyable life over here. Considering the rent, the car, the motorcycle and all the other pleasures I can afford now...dump 'em all?? Don't think so....so how about moving to another country, like many Japanese do, too, lately!?!?! Any hints, any advice?? I am considering (assuming that I will be healthy) to fulfill one of my dreams, tour the world on 2 wheels...i.e. motorcycle. But, hey, another 10 years to go...who knows what will happen

 

[ricecake]

so how about moving to another country, like many Japanese do, too, lately ?! Any hints, any advice ?

I've read a Chinese language newspaper article last year,Taiwan was developing " premium retirement resorts " marketed to Japanese retirees.

 

[ArmandV]

I've read a Chinese language newspaper article last year,Taiwan was developing " premium retirement resorts " marketed to Japanese retirees.

Hmmm. Maybe with all those Japanese retirees moving to Taiwan, there will be more room for us gaijin retirees in Japan.

 

[DoctorP]

To me, Japan is not the best place to retire though. Very expensive, and as mentioned before, the elderly care is lacking. Maybe ok for the first few years of retirement, but you may want to reconsider staying for the rest of your life.

 

[ArmandV]

To me, Japan is not the best place to retire though. Very expensive, and as mentioned before, the elderly care is lacking. Maybe ok for the first few years of retirement, but you may want to reconsider staying for the rest of your life.

I found Japan no more expensive than the U.S. It depends upon where one goes. Sure some things are expensive (fruit, for instance), but adjustments can be made.

If figure I would live in Japan while I still have all my marbles and am physically fit to enjoy it. If the ol' bod (and mind) starts to fall apart, I can always return to the U.S. if need be.

 

[DoctorP]

No worries, that was just my opinion. I don't think that I would live here beyond say 68.