For many people reaching retirement means also finding a new place to live. At that point many people prefer to pack up and move somewhere that will be fun and easy to manage. One of the options in doing this is moving abroad. Keep in mind the following is retiring abroad is something that you are considering.
Probably the very first thing that you’ll want to think about it where exactly you would be the happiest retiring Certainly most people are drawn to a casual, tropical environment, but there are some other things to keep in mind as well. The next step would be to consider if the cost of living somewhere is going to make sense for you. In many countries there is a great conversation rate which will actually drop the cost of living considerable. In countries like Costa Rica it might be possible to buy the dream home that you could not have afforded in the United States. This helps to make everyday life easier, and it might also give you some newfound freedom to do stuff that you didn’t get the chance to do when you were working. Although the costs do vary a bit which is something to keep in mind. Just do your extensive research to make sure that the cost of living will actually be cheaper. In some countries for example, using your car might be a bigger expense than it is in the U.S., so some people switch to public transportation.
Before you pack your bags and move abroad you might want to consider doing a trial run first. Perhaps first rent a home or apartment in your desired country and see how you like it. If you don’t end up liking it doing so could save you a lot of trouble down the line. If you do like it, no problem, it’s much easier to buy a house when you’re in the country and familiar with the area anyway. That way you’ll have some time to get familiar with neighborhoods before you commit.
Another thing to keep in mind is how you feel about the space from your friends and family. For some people this is an ideal situation, but for others, it can be kind of a bummer to be so far away from the people that they love. You will however be able to travel more if you are saving money on a cheap place to live, so you might actually plan a lot of trips back home anyway. Some people actually decide that they might like to split their time in a country like Costa Rica and the United States. It’s always possible to create your ideal circumstance that ends up being easy on the wallet and easy on life in general.