Whether you are drawn to the sunny cities in Spain or the rolling French countryside, you are not alone in seeking a retirement abroad. The Association of Americans Resident Overseas (AARO) estimates that roughly 5.4 million Americans live abroad, with the majority relocating to Mexico, Canada, or the United Kingdom. While the exact reasons for such moves are unknown, they may be due to lower living costs or simply better weather.
For many retirees, better weather can make their days much more pleasant. After all, no one wants to spend their retirement stuck indoors as it rains and storms outside, do they? With this in mind, it is essential to plan and ensure that your retirement is as enjoyable as possible, particularly if you are heading to a place with lots of sunshine.
Fortunately, this post outlines three practical ways to guarantee an enjoyable and healthy retirement in a country where the sun shines year-round.
Plan Your Finances and Lifestyle Ahead of Time
One of the first steps to ensuring a happy retirement is to begin planning as early as possible. Retiring abroad can be a significant change, and there are numerous aspects to consider before making your move. It is best to start by reviewing your finances and creating a personalized financial plan. The right funds will be needed to support your lifestyle, after all.
Strategic financial planning can help you to achieve your desired standard of living, maintain financial security, and optimize your wealth in your new international home. To do this, you must understand the latest tax laws. Each country will have its own unique tax laws, and you should understand how these laws apply to your assets and income. This is even applicable if you are receiving a pension from your home country.
There are numerous costs to consider when moving overseas, including accommodation, global health insurance, utilities, and the cost of necessary visas. The process varies significantly from country to country, resulting in differing application fees. You can research this thoroughly ahead of time, but it is vital to allow ample time for the lengthy application process.
With an understanding of your finances before you retire and move abroad, you will be able to look at the type of lifestyle you can afford. If you have previously visited your chosen country, then you should know whether the day-to-day life suits you and what is required for comfort and daily living.
Stay Social and Make Meaningful Connections
Although you might have some connections in your chosen destination, it can still be lonely moving away from home, even if you have a partner. This means that the next step to focus on is to create a meaningful social life to help one feel less isolated. After all, it is relatively common for expatriates to become vulnerable to social loneliness, even if they initially enjoy the adventure of their new life.
As a retiree, you won’t have a job to use as a method of socializing. You can use other methods to connect with individuals who share similar interests with you. There may be classes available in the local community; for example, a language class is an excellent way to meet fellow expats. Joining a club or volunteering for a local cause are also great options for befriending others.
While making new friends, it’s essential to maintain connections with your friends and family back home. Technology has made communicating with others hundreds of miles away so easy, so you must make the most of this. Embracing video calls through FaceTime or Skype, and using WhatsApp or another messaging app, can help you stay in touch and keep up-to-date on life back in your home country.
Approach Retirement as a New Adventure
Retirement abroad can offer a lot. It combines new cultural experiences, opportunities for personal growth, improvements to quality of life, and often the allure of warmer weather and new landscapes to explore. All of this can mean that retirement isn’t just an ending; it will instead become an exciting new chapter filled with discovery and possibility.
Having lots of free time means you can open doors to explore all aspects of life in a new country. It is a good idea to delve into the different customs, traditions, and ways of life, particularly as these will be a significant departure from your old life. This will expose you to new environments and languages that can stimulate the brain, improve cognitive function, and even delay age-related cognitive decline.
To conclude, if you plan to retire abroad, it is essential to start planning well in advance. This can help you to guarantee a successful life away from your home country, and isn’t that what you want when retiring somewhere fun and warm?
