With inflation still going strong, retirement can be a scary thought. Retirement is supposed to be a rewarding and relaxing time in your life, where you can finally unwind and not have to stress about going to work or paying bills. If retiring here in the U.S. seems like a distant dream, why not consider taking your retirement abroad? Once you’ve finally taken the leap into retirement you would have traveled anyway, so why not make your vacation your new life! Here are some amazing perks and reasons why you should consider getting out of town once you’ve waived goodbye to the workforce for good.
Affordable Healthcare
A big draw to living abroad is the healthcare. In America, we have great healthcare, but it comes with a hefty price tag and limitations. Depending on where you go, healthcare can be almost free or at very little cost. Medications can also be a fraction of the price depending on the location. This is great if you are prescribed medication that you have to take for the rest of your life, because it can really add up and take a chunk out of your pocketbook over time.
Money goes further
In some countries, the American dollar doubles in its value and in others it can even triple. If you move to a place where your money is multiplied, chances are that the cost of living is low there as well. Low cost of living plus double the cash means you don’t have to worry about getting a second job at the tiki bar to keep up with your finances. Not having to worry about money is huge and it’s the main reason people choose to retire in foreign countries. It allows you the freedom to retire earlier if you choose and with less money than it would take back home.
Cheaper to travel
Travel looks different in other parts of the world. Depending on where you are, you can travel across country lines by train or be in a different city every afternoon. In some parts of the world different states and nations are a lot closer together, making it easier to travel to. Since you are able to hop from place to place by train or small jumper plane it makes travel much more affordable, not to mention convenient. Travel is the number one thing people do in retirement and it is so easy to do if you are already outside of the U.S. Make sightseeing your new favorite hobby.
Before you make your travel dream board your permanent residence, it’s important to be sure to do your research. Once you’ve chosen your new home, look into their laws, if you can own land or property legally, if you can gain dual citizenship there, the language, etc. The most important thing to keep in mind is your safety. If you feel comfortable in your new home and understand the customs and cultures there, you are sure to retire in pure bliss.