Tips for Retiring Overseas
If you’re nearing retirement – or are already there! – then it’s possible you’ve considered heading overseas for your retirement. Whether the reason is your desire to travel and experience adventure, or settle somewhere much cheaper than home, there are some things you should know before making the big move. Here are five tips for those considering retiring overseas:
- Consult with international movers. You’ll definitely need assistance when moving overseas, and professional international movers can help you navigate the sometimes tricky waters. Specifically, they know what documents are required for an international move, understand what it takes to get your stuff through customs, and have resources to guide you through the culture of your destination country.
- Be sure you can afford to move. Some countries will ask you for proof that you have enough financial resources – whether through your pension, 401(k), or other retirement funds – to live abroad without depending on their welfare system. Make sure you know what it costs to rent or purchase a home in your destination country, and how much disposable income you’ll need to survive each year.
- Engage a financial adviser. This person can give you advice about what to do with financial assets you currently have – specifically, should you transfer them to your destination country or keep them where they are? A financial adviser can also help you set up your finances in your new country of residence.
- Travel to your destination country 2-3 times before deciding to move there. Remember that a visit is different than living somewhere. A lot of places are “magical” when visiting, but the reality of living there may not be all you think it should be. Travel there at different times of year so you can experience the varying weather and tourist patterns, and to get used to the culture, language, and people.
- Talk to your family. While it’s ultimately your decision to retire wherever you’d like, it’s helpful to know how family members would feel about your move. Consider what it would be like to be away from them, and take their feelings into account when making the decision.
For more tips on retiring overseas, contact Allied Van Lines – international movers who know all there is to know about moving. With more than 85 years of experience, we can help make your move as smooth as possible.