Traveling Overseas for Your Retirement
With a career and family life behind you, moving overseas can be a reality for your senior years if that’s what you’ve always dreamed of doing. You might not feel like you have the funding to maintain a life in the destination of your choice, but with some research and planning, it can be an affordable move. Before you make the decision, here are some things to consider:
1. Consider the cost of living – the cost of living varies from country to country and city to city, so make sure you do your research and choose one that has a cost of living that is lower and well-suited to your retirement budget
2. Find out the regulations for living in a country where you’re not a citizen – in countries like Mexico, retired seniors can receive residency permits that can be renewed annually; or for those with their own homes there, with a monthly pension of $1000 a permanent residency status can be granted
3. Think about your health – the climate and environment of various places abroad can have an impact on your health. Also look at the type of health care system in the countries you’re considering retiring to; some developing countries do not have the same standards as those we’re used to in the US while others have even more comprehensive health care systems
4. Choose your lifestyle – depending on what you’re looking for from your retirement, different destinations can meet your requirements. If you dream of senior years on a beach, Mexico, Spain or Italy might be a good choice; but if you want a historical experience look at Greece or England
Via: Retirement Story
image: heritagecommonssl.com
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