We’ve been talking about travel this month and last month, we were focused on retirement. So, why not put the two together and examine the idea of retiring overseas? OK, that’s what we’re going to do, today.
You see there are some very good reasons to take your retirement income and head overseas with it, let’s take a look, shall we?
Seven Solid Reasons To Retire Overseas
The Cost Of Living In North America Is High
The United States and Canada are among the most expensive places to live on earth. That means there’s a big financial incentive to move once you stop working.
For example, there are a lot of countries in which you could live very well for just $1,000 a month. Thailand, for example, offers the perfect life for roughly that much in retirement. Why end up penny-pinching and living on lousy food when you can eat well, have a swimming pool and lay around in the sun all day?
A Huge Boost In The Standard Of Living
Even if you can afford the United States, why wouldn’t you want the boost in living that comes from being overseas? Particularly if you need regular care.
A private full-time nurse in the Philippines will set you back less than $500 a month, much less if you are providing them with accommodation. That would barely cover the cost of a house call in the United States.
A massive meal out in Georgia (the country not the state) would be less than $20 for a group of four.
Being able to do anything you want without worrying about the cost is immensely freeing. Plus, in many nice locations – there’s a big expat community, you won’t be without friends.
The Weather’s Often Better
Sure, Florida would be lovely but it’s very expensive to retire to Florida now that everyone in America has their sights set on ending their days outside of Disney World.
Thailand, however, offers the same kind of climate for a fraction of the cost. You’ll have sunshine every day which can be a huge boost to the quality of living without worrying about the overhead. Yes, we like Thailand for retirement and we’ll be coming back to look more closely at this another day.
Improved Healthcare And Costs
Your insurer is going to love you if you tell them you want to move to Thailand. Healthcare in much of the rest of the world is so much cheaper than it is in the United States and that, in turn, means much lower insurance premiums.
Don’t think that you’ll be cutting back on quality when you cut back on costs either. India, Thailand and dozens of other destinations have a much better reputation for private healthcare than they do in America.
In fact, nearly 40 countries ranked higher than the United States for healthcare last time the WHO (World Health Organization) ranked the world and none of them cost more money than the United States!
However, be careful when you work out insurance. Many cheaper policies specifically exclude treatment while you are in the Untied States, so if you’re heading home for Thanksgiving or Christmas with your family; you may need a little extra coverage.
To Say That You Have Been
They say that nobody on their death bed says that they wish they’d done more work but plenty of people remark that they wish they’d seen more of the world.
It can seem scary the idea of living overseas but it is a wonderful opportunity to broaden your horizons and live a completely different life. You can walk along the beach without a care in the world. You can find friends from around the world.
Most of all, you can learn new things and that’s got to be a good thing… in fact, it brings us to my next reason.
It’s Probably Going To Be Good For Your Health
Now, let’s just say as an aside that moving home is stressful and for a few days or weeks, it’s going to be a big challenge to move across the world but once that is done, you can relax.
But you probably won’t relax too much. Unfamiliar places bring new opportunities and challenges. That means you’re going to have to put your brain in gear to get the most out of your new home and to deal with bureaucracy (there’s always some of that everywhere in the world), making friends, getting over any language barriers and finding the coolest hangout spots.
That kind of mental activity has been demonstrated to keep Alzheimer’s at bay by The Alzheimer's Association!
We imagine that the warm climate and low costs are also going to reduce your stress levels long-term and if that doesn’t work – can we recommend the hour-long massages for $5? Yes, you’ll find those all over South East Asia in some very nice spa settings too.
The Last And Best Reason To Retire Overseas – Because It’s An Adventure!
For many people, they get their adventures in life before they settle down and have a family. Then comes 40 years (or more) of hard work, going to college, getting a job, raising a family, and dealing with the birds flying the nest.
There’s no time for adventure when you have the much responsibility to deal with. However, there’s nothing to stop you from having adventures in retirement. That responsibility isn’t yours anymore. You’re free to climb mountains, ride elephants or drink tequila on the deck of a 40-foot yacht.
Life overseas brings so much fresh and new appeal to the way we live. The taste of new food, the smells of fresh flowers, the sound of the waves, what’s not to like?
If you’re thinking of retiring overseas, we’d love to hear about your plans in the comments below or alternatively if you have any tips for retiring, we’d be thrilled to read about those. Until next time, have fun!