There's no doubt that to retire offshore is both an exciting and challenging experience. Ask me I know!
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?
Many good reasons to consider moving offshore
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. As many western countries have become disproportionally expensive and services do not justify the costs.
Quality of life
Many aspects of the quality of life abroad is much better. Sometimes better weather for others moving to safer places.
Life at home not what it used to be
Life at home has somehow deteriorated ... it's just not what it used to be.
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.
To spread financial risk. Governments are looking to get money wherever they can and some are a lot more ferocious than others.
Rising feelings of internationalism and a desire for sovereign freedom. With more and more controls people are feeling intimidated by systems that are evolving in the wrong way.
Planting other flags
Becoming aware that there is a growing number of good reasons to plant flags in other countries. It becomes a Plan B option and having another passport is always a good plan.
Following the children
Others are following their children who for whatever reason have seen fit to leave their "home" country and live their lives somewhere else.
Why did I move offshore?
For me, and a number of my South African friends, we see South Africa is following the rest of Africa into an economic abyss. Shredded by corruption, nepotism and incompetence.
Our children are living scattered all over the world in the UK, the US and the Middle and Far East. They have reversed the nomadic direction 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?
Where to go?
Many Americans are looking to South and Central America to retire offshore.
With a number of these countries 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. More and more Americans are also looking at the attractiveness of countries like Portugal and Malta with their Golden visas.
While for Northern Europeans there is a growing in interest in Southern European countries like Portugal, Greece, and Spain. Who with their debt problems are welcoming 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? If you are then looking at the many offshore options should be high on your options for retirement.