Why Should You Retire Abroad?
Retirement is an exciting part of life, contrary to the cartoons and television shows that pretend it’s sheer boredom. Not only are you gaining freedom from the working life, but adventurous types now have an entire world of opportunities opening up that had previously been suppressed by the immobility of everyday life.
If you’re considering making a big move when it comes time to retire but you’re not absolutely sure yet, then check out the following tips. They’ll almost certainly convince you.
Image by Rajeev Nair
Live Luxuriously for Less
With a strong dollar, your purchasing power in foreign countries has increased tremendously over the past couple of years. In many countries (several that are relatively close by, such as Thailand, the Philippines, and Bali), you can live quite luxuriously on less than $1,000 per month.
Living abroad during your retirement years is especially beneficial for golf enthusiasts, because you can garner access to hundreds of courses in other countries for mere cents on the dollar each round. Most hobbies cost much less in foreign countries (such as the ones previously mentioned; places such as the U.K. and the U.S. may be a bit more pricey, depending on where you want to go). This not only helps you stretch your retirement funds, but you get even more entertainment as well! It’s a win-win situation.
Get Away from It All
If you’ve lived in or near the city for most of your life, then it might be nice to just live in peaceful privacy for a while. Retiring on a remote island in the Philippines or in Fiji can be just the refresher you needed. Taking time to slow down and enjoy your golden years not only improves your state of mind, but studies have shown that rest and relaxation in a calm, tranquil setting can improve your physical health as well. At a time in your life where health concerns are on the rise, this can be quite helpful.
Healthy Food
With the rising cost of fruits and vegetables becoming a problem for many people and their families, going to a country where the exchange rate is more favourable, and the quantity of fresh produce is also more readily available, can be a fantastic idea.
Maintaining a healthy lifestyle is crucial during retirement, both exercise-wise and eating habits. Just because the cost of food is rising doesn’t mean you should have to cut back on healthy eating to better suit your budget. Instead, retiring to a place where food is cheaper and much more plentiful is an excellent alternative.
Less Extreme Weather
With storms raging during winter and ungodly amounts of rain falling on a frequent basis, it would certainly be nice to go away to another country with less extreme weather changes (or at least, warmer, dryer winters). Cold weather is generally uncomfortable and painful for those with joint problems and arthritis, giving you even more incentive to move to a country with warmer climates.
So, if you’re on the verge of retirement, or currently retired and considering a move to a foreign country, taking this leap can be a great opportunity to experience life overseas. This will not only extend the life of your retirement savings, but you could even better your current standard of living due to lower costs in many other countries.
Related posts:
Category: Frugal Living
