Retirement Abroad Living Overseas Cost And Location

A growing number of baby boomers and middle-aged workers are considering the benefits of retirement abroad. For some, living overseas may be a way to escape the effects of a bad economy and stretch retirement funds further. For others, it allows them to avoid the hassles of house maintenance and snowy weather. It may also provide a way to move closer to family members, or to maintain a pleasant distance.

Whatever practical reasons exist for doing so, the idea of retiring abroad conjures up a certain kind of romance. Palm trees, eternal summer, inexpensive living costs and the prospect of embracing a simpler lifestyle provide a powerful allure.

Some people dream of a permanent retirement abroad in a beautiful climate, while others may wish to live overseas for just a few years, or to travel for just a few months each year.

Retirement Abroad: Location

Retirement abroad is not as complex as it may seem at first, but it still involves significant planning and preparation. Before you make any concrete plans, it’s a good idea to determine your reasons for wanting to retire abroad. What is the appeal of living overseas? Have you already decided where to retire? If not, what factors will contribute to this decision?

Retiring Abroad: Healthcare, Moving and Family Considerations

If you’re considering living overseas, you’ll need to decide what to do with your current possessions, including your house. You’ll also need to plan for your healthcare needs and a variety of other issues involving your children, family and pets. Who and what will go with you? Who and what will stay behind?

The Financial Aspects of Living Overseas

The financial considerations involved in retiring abroad may add or detract from its allure. For some, retirement abroad can represent a tax haven. For others, retirement abroad may be the culmination of a lifelong dream, but may still be the financial equivalent of an expensive long-term vacation. Can you afford to retire abroad? Can you afford not to? Ask yourself these questions and others as you begin the planning process.