6 Motivations and Reasons to Retire Abroad
It is reported that the number of retirees choosing to retire abroad is soaring year on year. But what could be the reason for this?
From better weather to cheaper healthcare, in this article, we look at the 6 main reasons many choose to retire overseas.
Reduced cost of living when retiring abroad
One of the main draws for many when considering retiring abroad is to make their savings go further. Those that have a low level of savings when entering retirement can be drawn in by the low cost of living of many countries.
Those currently living in an expensive country in terms of cost of living, such as the US, will be able to make their money stretch further, thanks to cheaper rent/accommodation, food, and even bills.
Higher standards of living by retiring abroad
Depending on which country you decide upon, you may be able to have a higher standard of living than that of where you are currently residing. This could be an upgrade in the location you live, such as by the beach, or a larger property than you can afford at home.
You may want to hire some help around the house which would be too expensive at home, or perhaps you enjoy an expensive hobby, such as golf.
Luxuries can become everyday life abroad.
Retiring abroad for better weather
Are you looking to trade in your winter coat for a t-shirt?
Warm, brighter weather is always a pull for retirees. There are many places in the world with warm, year-round heat and sunshine if that’s what you are looking for.
More enjoyable weather also brings a better quality of life. You can do things year-round rather than just in the summer months. Warm weather also contributes to reduced bills.
Cheap healthcare for retirees abroad
The cost of healthcare at home can get much more expensive with age, sometimes unaffordable so.
Overseas destinations can have lower-cost healthcare without reducing the quality of your cover or any medical treatment you may need.
International medical insurance provides comprehensive international health cover that could be more affordable to you, and sometimes by a lot.
We at Healthcare International have over 25 years serving the ex-pat community with comprehensive tailored medical insurance for almost anywhere in the world.
For a free, no-obligation quote, or to discuss our cover options, please do visit our website here or give us a call in our London office on +44 (0)20 7590 8800.
An adventure for retirement
Who says you need to slow down in retirement? Moving abroad can bring lots of new and exciting adventures. Experience a new culture, do things you have never done before, explore your new surroundings!
Depending on where in the world you wish to settle, you can also try exotic new cuisines. You may also be close to many other parts of the world which you only need to hop on a boat or a short flight to visit.
You can still feel connected
Thanks to the rapid improvement in internet connection around the world, almost anywhere in the world you go will likely have internet. This means you can still share photos and videos with friends to keep them updated with your travels and exciting new life.
Can still watch the things you like online and skype with family.