Tags: Retirement | retirement | relocating overseas

5 Factors to Consider When Relocating Overseas for Retirement

By    |   Friday, 29 May 2015 01:48 PM

Whether experienced travelers or not, an overseas retirement sounds alluring to many retirees. When making such a decision, there are 5 key factors to consider before committing to this big move.

Free Retirement Calculator: When Can You Retire? — Click Here to Find Out

Cost of Travel
Whether you’ll travel to visit family on holidays or visit nearby cities and attractions, the cost and burden of travel is a basic and important consideration. While the idea of a rural getaway or an island escape may sound ideal, it can make travel costly and time consuming.

The best locations can find a happy medium. For example, U.S. News Money lists Granada, Nicaragua as an affordable retirement location, providing plenty of natural luxuries including coastlines, volcanoes, and rainforests, while being less than 45 minutes to the capital.

Language

An obvious, yet important factor is the language barrier that may exist when moving overseas. While someone may know a country’s formal language, regional dialects may exist that greatly differ from the formal one.

Many abroad retirement locations recommended by AARP are places that have traditional forms of the language, or a good portion of the population is fluent in English.

How Soon Can You Retire? Free Test Shows You When — Click Here

Health Care Options
The health care industry in modernized countries is often taken for granted by those who have not experienced anything different. While moving to less developed or smaller nations, cost of living may be low, but so could health care quality. U.S. News Money recommends living within 30 minutes of an international-standard hospital.

Culture
While some overseas retirees may move to a culture they know very well, others should consider the type of community and opportunities in a given community. Some choose to retire to places that are largely expat communities. Others capitalize on being immersed in the local culture.

Similar to this, is considering the culture of surrounding locations. Places like Europe where countries and cultures are geographically close may prove to be rewarding compared to an island community.

Cost of Living
Some countries may have a significantly lower cost of living compared to the United States. On the other hand, popular locations like Paris can be very costly.

In looking at this factor, it is also important to understand the trade-off of a nation’s financial stability. Some countries with low costs of living may also have significant currency fluctuations. U.S. News Money advises to invest some in the country where you live in order to reduce risk.

An Extremely Simple Way to Determine If You're Ready to Retire — Find Out Now

Related Stories:

© 2017 Newsmax. All rights reserved.

 
1Like our page
2Share
FastFeatures
Whether experienced travelers or not, an overseas retirement sounds alluring to many retirees.
retirement, relocating overseas
449
2015-48-29
Friday, 29 May 2015 01:48 PM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved