Retire Overseas - Is It For You?

By Audrey Owen (2011)

So you think you might like to retire overseas?

Why not? Your work is done. You've heard that life on the beach can be cheaper than life in the suburbs. You've finally got the time to experience the exotic up close and personal.

No one can tell you whether retiring overseas is your best bet. All I can do is give you some things to think about.

The two biggest factors for most people are health and wealth. (And sometimes they are closely related.)

Let's face it, most of us don't get healthier as we age, although studies show that the year after retiring, most of us seem about seven years younger. At some point, most of us will need more medical attention than we do right now. Be sure that your overseas dream location can provide you with the medical services you will need at a price you can afford.

The attraction to many overseas retirement locations is a low cost of living. Housing is cheaper. Food is cheaper. Relaxing on the beach is free. Be aware of hidden costs. Some places tax foreigners extra. Some grant foreigners tax relief.

How much will it cost to stay in touch with family? How long can you go without seeing the grandchildren? How often can you afford to bring them to visit you?

When you face the question of whether retiring overseas is a good fit for you, it can be good to have a tool to help with decisions.

Whether you decide to retire overseas or simply to visit the places of your dreams, I wish you happy travels.

©2011 Audrey Owen Used by permission

Audrey writes on retirement issues at RetirementInvestigator.com