Reaching retirement age can be the perfect time to finally move to that dream destination. For a lot of people that means relocating to someplace a bit warmer of easier. It’s always a good idea to consider every possible option, even if that means actually leaving the country. Keep in mind the following is retiring abroad is something that you are considering.
Of course location is going to be one very important consideration. Certainly most people are drawn to a casual, tropical environment, but there are some other things to keep in mind as well. The cost of living is a good next to think about and consider whether this idea is a good one or not. It’s a good idea to look at locations that are inexpensive to live which will essentially make it feel like you have more money. In some countries like Costa Rica you might be able to get a house for about half of what you would in the U.S., and everything from food to housekeeping is cheaper as well. For many retirees the allure of having travel funds free is a good enough reason to cut down on the cost of living. Not that everything will be cheaper. In some countries things like air conditioning are an expensive luxury so it’s worth considering whether you need that type of thing in your new potential lifestyle.
Moving abroad is a pretty big decision, so you can actually take the process in steps to make sure that you like it. Perhaps first rent a home or apartment in your desired country and see how you like it. If your first stop does not end up being your dream location than you simply pick up and move to the next spot. 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. When you take some time to get to know the area you’ll have a great idea of why it works for you.
Another thing to keep in mind is how you feel about the space from your friends and family. It’s always a personal decision. Do consider that if you move somewhere relatively inexpensive you’ll have more travel funds saved up anyway, which means a last minute trip might not hurt your wallet at all. 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.
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