You might be considering retiring abroad as you plan the next phase of your life. It can be daunting as you move away from what you have called home to a place you've only ever known as a holiday spot. However, there is so much to gain from retiring abroad. You'll soak up a new culture, invest in yourself and do what genuinely makes you happy, whether in a sunny location with stunning beaches or opting for city life. We looked at five top destinations we've seen for retiring in 2022 and shared some of the many reasons people are making a move.
Five destinations to relocate to in 2023 and beyond
Retiring in the UK:
It is considered a safe country and neighbour to Europe's friendliest country- Ireland. The UK offers many outstanding landscapes, such as the prehistoric monument- Stonehenge. Although if sightseeing isn't your thing, no worries, there are plenty of other activities to do. The UK offers plenty of beachside towns, including St. Ives, and many vibrant cities like Manchester, making it a location that can accommodate many different lifestyles.
Retiring in Australia:
The only country in the world covering a whole continent- the oldest, flattest, and driest inhabited continent. You can't match the beauty of the beaches and the incredible wildlife here, including the world's largest coral reef- the Great Barrier reef. Australia is a perfect location to explore nature to get that sense of freedom and the golden opportunity to discover new places and animals and let your imagination run wild. With the Australian alps located near the capital city of Canberra getting more snow than the Swiss, you do have the best of both worlds.
Retiring in Spain:
Sunshine and affordable living are two of the most appealing factors about this country. Enriched by the Mediterranean culture, this has been the ideal destination for retirement for many. Spain has adapted to accommodate tourists and retirees. Many smaller towns rely on this to survive the rest of the year, making it a welcoming place and easy to feel at home. A significant percentage of the Spanish that works in customer-facing roles will speak English, or more accurately, Spanglish.
Retiring in France:
Climate, food, and lifestyle all contribute to its popularity. Providing low-cost living and excellent health care are two essential things you should be looking for when deciding where to retire, and France has both. If you are interested in museums, tourist attractions, and cinemas, many provide discounted rates for those over 65. There are also top-notch golf courses and many social expat groups and clubs you can join.
We hope you enjoyed learning more about some of our top destinations for retiring abroad. Being immersed in a new culture can be such an enriching experience, especially when you have the time to divulge yourself without the constraint of working commitments fully. Undoubtedly missing family and friends could be a significant deterrent. Still, with technology now, there are plenty of ways to stay in touch with loved ones virtually.
Ready to retire abroad? We have some helpful tips for you!
Regardless of what you may decide on, research is key and an essential part of the process because there are many factors to be sure of before making a final decision. Only some locations might suit you despite your initial gravitation towards them. Planning will mean you can travel safely, knowing that your new life will be just as amazing and secure as you envisioned. Essential advice would be to plan ahead- to find out the power of planning your retirement abroad, we have listed some helpful tips below to help get you started.
Plan for your health:
Depending on where you would like to retire, you may need to apply for medical insurance. There are some countries, such as America and South Africa, where health insurance is essential. Research what health coverage you are entitled to as a retired expat before you arrive. You can then budget for any additional health coverage you may need.
Research your financial arrangements:
Exchange rates and inflation will affect your income, pension, and other benefits you have. Before arriving, you should research the cost of living. Will you be better or worse off from relocating? It is also a good idea to contact the International Pension Centre as they can advise you on how your pension could be affected. It's essential to ensure you are in the best financial position to relocate and live overseas comfortably.
Take the time to research the perfect new home for you. Visit a few times to see if you can picture yourself living in a particular neighbourhood. You will discover what local activities are available and decide if this is how you envision your retirement. Visiting a country for a holiday is very different to living there permanently. Take your time to make sure you choose the right time and location for yourself.