Retiring abroad
Photo: (WT-en) Shorkye at English Wikivoyage, Public domain via Wikimedia Commons
Retiring abroad can let you live cheaply in an interesting place; you are not all that likely to actually find paradise-on-earth or the fountain of youth, but you might get close enough to enjoy yourself immensely. Retiring abroad is certainly not for everyone, but it may be worth considering for many. This article aims to provide the basic information anyone considering it will need. There are two main reasons for someone to retire in a country other than where they spent their working life.
- One is climate; people from colder places flock to the Mediterranean, the Caribbean, Southeast Asia and other warm regions, while others choose a dry desert climate because that is easier on asthmatic lungs or arthritic joints.
- The other is saving money; a pension that is just a pittance in a relatively wealthy country may be enough to live well in a lower-income country, while a substantial pension or some good investments might let you live in luxury.
The lower costs may let you retire earlier, or take some time off as a sabbatical break in mid-career, or just live somewhere cheap while continuing to work.
Other ways to retire are briefly discussed in the last section of this article. Senior travel describes time-limited getaways for elderly people.
DestinationsNow more than ever do I realize that I will never be content with a sedentary life, that I will always be haunted by thoughts of a sun-drenched elsewhere.
DifficultiesIf you reject the food, ignore the customs, fear the religion and avoid the people, you might better stay home.
Information sourcesAn investment in knowledge pays the best interest.
VisasIf you want to succeed you should strike out on new paths, rather than travel the worn paths of accepted success.
Financial mattersRetirement: It's nice to get out of the rat race, but you have to learn to get along with less cheese.
TaxationThis is a question too difficult for a mathematician. It should be asked of a philosopher.
HousingMany foreign retirees buy property – a home or a business – abroad, though others find it simpler and lower-risk to just rent.
MovingWhen I was a kid my parents moved a lot, but I always found them. In planning a move, allow for shipping costs and consider which things might be better bought at the destination than shipped.
HealthI think you might dispense with half your doctors if you would only consult Dr. Sun more.
CommunicationsThe Net interprets censorship as damage and routes around it.
Other ways to retireThe best time to start thinking about your retirement is before the boss does.
Sources and licences
- Guide text adapted from the Wikivoyage article "Retiring abroad" by its contributors, available under CC BY-SA 4.0. Read on Wikivoyage · Contributors · CC BY-SA 4.0
- Photo: (WT-en) Shorkye at English Wikivoyage, Public domain via Wikimedia Commons