Retiring is the chance to experience a change in lifestyle as you enter the next phase in your life. To relax and experience all the things that you’ve always wanted to do. Retiring abroad is one way people like to do this. The success to any new life abroad begins with preparation. Here are our top tips for a successful move abroad for retirees:
Plan for your health
Depending on where you would like to retire, it may be vital you apply for medical insurance. There are some countries such as America and South Africa where health insurance will be essential. Research what health cover you are entitled to as a retired expat before you arrive. You can then budget for any additional health cover you may need.
Research your financial arrangements
Exchange rates and inflation will affect your income, pension and other benefits you have. Before arriving research the cost of living, will you be better or worse off from relocating? It would also be a good idea to contact the International Pension Centre. They can give you advice on how your pension could be affected. It’s important to make sure you are in the best financial position to relocate and live overseas comfortably.
Don’t rush
Retiring abroad is a big step that should not be taken lightly. Take the time to research the perfect new home for you. Visit a few times to really see if you can picture yourself living in any particular neighbourhood. You will discover what local activities are available and who your potential new neighbours are. Visiting a country for a holiday is very different to the reality of living there permanently.
Planning will mean you can travel safely in the knowledge that your new life will be just as amazing and secure as you envisioned.
