There's no doubt that to retire offshore is both an exciting and challenging experience.
You will be wrenched out of your comfort zone, possibly have to learn a new language, adopt a new culture, eat different food as well as many other unexpected challenges.
So why do it? What's the payback? Is the move to some way off exotic location really worth it?
It must be as, for a host of reasons, there are more and more people now making this decision:
- To retire offshore is often much cheaper than retiring at home.
- Many aspects of the quality of life abroad is much better.
- Life at home has somehow deteriorated ... it's just not what it used to be.
- To spread some financial risk.
- Rising feelings of internationalism and a desire for sovereign freedom.
- Becoming aware that there is a growing number of good reasons to plant flags in other countries
- Following their children.
In the past most governments have made rash economic decisions. Now the politicians are being forced (with the threat of losing their jobs) into making other rash decisions to correct the previous rash decisions!
Wow ... doesn't that sound like a real mess!
More and more people are starting to believe that the consequences of these decisions will be far more severe than we're being led to believe.
For me, and a number of my South African friends, we can't see too many reasons why South Africa will not keep following the rest of Africa into an economic abyss.
Our children are living scattered all over the world in the UK, the US and the Middle and Far East. Having merely adopted the nomadic character of their forebears seeking to find better opportunities.
However these rising concerns and departed children have unearthed a new and exciting solution. Opening our eyes to look at the possibilities to retire
in a foreign country.
In the past there was no reason to consider moving ... but that's all changed.
So in looking to retire offshore where should we consider?
Many Americans are looking to South and Central America or retire offshore.
A number of these countries are providing incentives to retirees as they see them as a source of expertise and income.
Countries like Panama, Nicaragua, Costa Rica, Equador and Mexico have already seen lots of interest and they are making it as attractive as possible for retirees to retire offshore.
While for Europeans there is a growing in interest in various European countries like France, Greece and Spain. Who with their debt problems should welcome some self sufficient retirees.
The islands of Malta and Cyprus are also attractive retirement destinations as they have large English speaking populations and attractively low tax rates.
If you are looking to retire to a foreign country Asia may be your choice. There is a growing demand for information for countries such as Malaysia, Thailand and the Phillipines.
All of which offer many alluring and charming features with a very low cost of living. They are also the center of a very vibrant and thriving economic area.
As you work through your retirement planner you should seriously consider these options as they could change a potentially hum drum retirement into an exciting and invigorating adventure.
Are you concerned about your finances in retirement? Concerned about rising costs? Worried about long term health care? Read my story about how I am preparing through SBI! for my long term financial security as I live my retirement as a "digital nomad"
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