Is retirement just around the corner for you? Are you contemplating on where you would like to retire? Will you continue to stay in your hometown where you know everyone? Will you move closer to your children and grandchildren? Would you want to retire abroad? If you have your mind set on retiring abroad, then you are in luck as we have provided the retire abroad checklist below. This checklist will help you and your partner decide on if you really want to retire abroad.
Retire Abroad Checklist
How far from home do you want to be?
How far from home are you wanting to be from your family and friends? Are you wanting to be close enough to them that you can visit them often? This is an important question. If you are considering retiring in Mexico, then this is close enough to visit and affordable for flights. If Europe or Asia was on your mind for retirement, then you should consider that it would take more time to get back home and the flights are very costly.
Living costs when you retire abroad
Living less expensively and downsizing may be what you are hoping to do when you retire abroad, but you should choose a place where you can retire that has a lower cost of living. The rent should be cheaper and real estate should be affordable as well.
The weather when you retire abroad
One important thing to know before you make your retirement destination choice is to know what the weather is there first. You may learn that the winter is ideal, but the summer is hot and steamy. Go for a visit at various times of the year first.
Can you speak the lingo?
Can you speak the language if you retire abroad? Are you prepared to learn a foreign language? This is important when you select your retirement abroad location, because maybe only a few of the residents will speak your native language.
Is the general lifestyle for you?
Does the location you are considering to retire abroad have the elements that are important to you? Are there beaches, mountains, museums, shopping, sports, and live music?
Do you want to be a full-time or part-time resident?
Do you want to be a full-time resident or just stay for the winter months? If you are wanting to retire abroad full-time, then you should make sure the country is open to retirees full-time. You should also check that the country has a good healthcare system and that you can get health insurance. If you relocate abroad forever, then you should check to see if you can receive your pension if you are retire abroad.
Are you flexible?
There are many countries that move at a much slower pace than you are accustomed to, and if this would bother you or frustrate you, then you may not enjoy retiring in that abroad country, but you should consider one that is more developed.
Will you be welcome?
First, and foremost, will you be welcome in the country you choose for your retirement? Some locations are more friendly and welcoming than others. For example, Mexico is a very friendly choice for expats.
Do you have any more considerations when looking to retire abroad? Add them to this list by commenting.