3 Reasons Why You Should Consider Retiring Abroad

Retirement opens up a whole new world for you. It practically ends years of service to a single company, or to the corporate world in general.

A retiree has several options with which to live his or her life after being indentured to an employer for a long time. Of course, this is considering that they have saved enough money to get them on to a new start in life.

Most retirees decide to become expatriates, or foreign nationals living in a foreign land. There’s a certain charm to living abroad after all, but, in this context, it serves to be practical. Now, what are three practical reasons for you to consider retiring abroad?

Costs of Living Are Lower

Because of the differences in currency exchange rates, you will find that costs of living abroad are actually lower than your home country. This is particularly true if you decide to retire in Asia, especially Thailand.

This means that you could squeeze out more from your retirement fund than you would in your home country, especially if your retirement savings are a tad too few. It’s always a good idea to save up some money as early as now, if your retirement if a little bit far, but we don’t really know what happens along the way.

Size up your savings and potential stipends when retirement age does set in. Compare it with possible costs of living in your home country. If you find that your savings are not enough, then perhaps it’s a good reason to consider other countries where you can make the most out of your retirement money. 

There Are Opportunities For Starting Businesses Abroad

Because of the lower costs of living, you’ll find that you can invest your money more effectively in a business abroad. The startup capital required would not be as high as you would probably spend in your home country.

You will, however, need somebody that you can trust if you do decide to invest your retirement money in a business based abroad. Just do your research, spend time finding reliable people that you can trust, and consult a legal advisor. A legal advisor is very useful especially if he or she is fluent in both English and the local tongue.

It’s a Breath of Fresh Air

Last but not the least, what retirees really need is a breath of fresh air. You, of all people, deserve something new after all those years of working hard for somebody else. Indeed, retiring to a foreign country gives you that fresh air that you need and deserve.

If you’ve always wanted to experience the tropical lifestyle, you can choose to retire in Southeast Asia, perhaps in a resort country like Thailand. Take your pick; there are virtually hundreds of countries to choose from and, with the Internet, you can find people you can work with on your retirement to a foreign land.

Is your retirement coming up? You should start thinking about where you should retire!

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Photo credit : Flickr.com


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