There are so many benefits to retiring abroad, from cost of living to enhanced life experience. Have you ever considered retiring abroad? I can’t say that I had either. I can tell you that I had always pictured myself moving somewhere warmer in retirement. Having grown up and lived my whole adult life in the Midwest, I believe I have encountered enough snow for several lifetimes.
When my time comes to retire, I want warm sunny beaches or at least a temperate climate. But this dream is not mine alone, and finding the perfect place to retire is not the easiest of tasks. Arizona and Florida are known as retirement destinations for many. I have learned that containing your search to the continental United States for that perfect spot may be limiting yourself to some wonderful opportunities.
Let’s explore how retiring abroad may be just what the doctor ordered!
RETIRE SOONER RATHER THAN LATER: The Benefits of Retiring Early
In my own experience, and having done some research into different areas of the world, there are places where the cost of living is much lower than here in the United States. That is a huge consideration, because you never want to live outside your means, and you don’t want to spend your whole retirement nest egg in the first couple years of retirement. Finding a location where we could live at a fraction of what we would pay in the United States has allowed my husband and I the opportunity to retire sooner than we had originally planned. Our standard of living should not have to suffer at all either!
We are busy learning the steps necessary to move a household to another country. Each country will have its own rules and regulations. Do your research, visit a regional consulate, and communicate with other retirees in that country. Write down your questions as you think of them and ask, ask, ask. You will be surprised at some of the differences you will uncover through the research process.
Make a list of the “must haves” you want for retirement, just as you would if you were retiring locally. Our list included such things as access to medical care, access to major airport for travel, temperate climate, access to big city and entertainment, dog-friendly community, to name a few. Your list may be different. It never hurts to investigate your options. You may just find that, like us, you are able to retire sooner rather than later.
MAKE A BRAND NEW START: The Benefits of Early Retirement
To move your household to a new country may seem like a daunting task, and it certainly is. But the benefit of making a brand new start can be exhilarating. I am so very excited to fully experience the benefits of early retirement by retiring abroad.
My husband and I have moved around many times over the years and never really established “roots”. We are now looking for a little stability in our retirement, and to have a new start will be a marvelous way to start. We are both looking forward to assimilating with the new culture and making new friends, both natives of Mexico and other ex-pats who have chosen this retirement destination.
LIVE AN ADVENTURE: Retire Abroad Cheap
If you’re like me, you like a good adventure, but it’s also important to keep your adventures manageable in terms of your budget. For me to stay in the United States in familiar surroundings would not have given me the rush of living on the edge. Plus, I simply could not have afforded this lifestyle.
I am looking for a new adventure every day, whether it be exploring a new area of town, hiking the mountains, meeting new people, expanding my network, starting a new hobby. Sure I could do all of this state-side, but in a new country, surrounded by a different culture is really something that sounds appealing to me. My husband and I both have enjoyed learning to speak the language and look forward to communicating and continuing to learn as we go.
So many people retire and stop living. Their lives have been so caught up and their work persona, they have lost sight of who they are. I am someone who has been focused and driven in my work and volunteering, and now I am ready to shift that focus to adventure. I want to enter this next phase of life with excitement and awe about what the future will hold and what new experiences I can encounter.
While retiring abroad is not for everyone, there are those of us that have decided this is the way to go. Our decision to retire abroad is in part largely due information we learned from Live & Invest Overseas. The helpful material we found led us to our own internet searches and even a trip to one of the areas that we pinpointed as our potential retirement home.
The decision of where to retire is just as important as the when. They go hand in hand. I’d love to hear your experiences in selecting a retirement location, and if abroad, let us know how you have found the adjustment to a new culture. Happy trails!