Bali is one of the most popular retirement destinations for ex-pats. As well as being tropical, cheap and beautiful, it also has a large ex-pat community that makes it easy to integrate into local society.
Many people choose to retire in Bali because of its low cost of living, beautiful beaches, delicious authentic food, and exciting culture.
However, the high cost of living in other parts of Indonesia means that many ex-pats who move there specifically to retire find that their budget doesn’t stretch as far as they thought it would.
How much money do you need to retire in Bali? Let’s take a look at some facts about retiring here:
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What is the Cost of Living in Bali?
The cost of living in Bali is high compared to many other Southeast Asian countries, but it is also much higher than living in other parts of Indonesia.
This is because Bali has a far higher standard of living than much of the rest of the country, which is reflected in the cost of basic essentials.
Basic food items such as rice and vegetables are more expensive in Bali than they are in other parts of Indonesia, while staple foods such as noodles are much cheaper.
Also read: The 15 Most Popular Beach Clubs in Seminyak Bali
Basic utilities such as electricity and water are also more expensive in Bali than they are elsewhere in Indonesia, although that is likely to change as the government has announced plans to increase energy prices across the country.
Transportation in Bali is also more expensive than in other parts of Indonesia, with taxis and public transport costing more than in other parts of the country.
How Much Does it Cost to Live in Bali?
One of the biggest factors in how much money you need to live in Bali is where you choose to live.
If you choose to live in the hustle and bustle of the capital, Denpasar, you are likely to spend much more than if you choose to retire to the idyllic tranquility of the south coast or the laid-back charm of Sanur.
If you decide to live in Denpasar, you should budget at least Rp 2,500,000 per month for a modest lifestyle, which equates to around $200 per week.
If you decide to live in Sanur, you should budget at least Rp 1,900,000 per month, which is around $150 per week.
What Do You Get for Your Money in Bali?
One of the things you get for your money in Bali is a tropical paradise. If you choose to retire to the Southern beaches, you will be able to enjoy stunning tropical sunsets with their brilliant sky-blue and coral-red hues every day.
If you decide to live inland, you will also be able to enjoy some truly beautiful sunrises as well as sunsets. You also get to enjoy an authentic Balinese lifestyle.
Living in Bali means being able to experience the unique culture of this island, from watching troupes of traditional dancers perform at temple festivals to indulging in delicious local cuisines such as spicy Gado Gado, iced coffee, and fresh seafood.
How Much Money Do You Need to Retire in Bali?
The cost of living in Bali is higher than in other parts of Indonesia, but you also get more for your money than in other areas of the country.
This means that you will generally need a higher retirement budget if you decide to retire to Bali than if you choose to move elsewhere in the country.
In order to live a comfortable lifestyle in Bali, you should aim to have a retirement budget of at least Rp 5,000,000 ($400) per month.
If you want to live a luxurious lifestyle, you should aim to have a retirement budget of at least Rp 8,000,000 ($640) per month.
Conclusion
Retiring to Bali is an enticing idea for many people, but it is important to know how much money you need to live there before you make the move.
The cost of living in Bali is higher than in other parts of Indonesia, but you also get more for your money than in other areas of the country.
This means that you will generally need a higher retirement budget if you decide to retire to Bali than if you choose to move elsewhere in the country.