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Things To Do When Considering Living Abroad In Retirement

Things To Do When Considering Living Abroad In Retirement

By Susan Williams

Do you dream of living abroad in retirement? Before you pack up your bags and your life there are lots of things you should consider before jumping on the plane.

Cynthia and Edd Staton know this first hand as they are now living their retirement in Ecuador. Cynthia and Edd spoke with me earlier on why and how they made the decision to move (you can watch what they had to say in this post Living Abroad In Retirement) and joined me again to discuss the things to consider when living abroad in retirement.

Here is our conversation;

Here are some of the highlights of our discussion;

When starting their search, most people begin by researching locations of countries where they could move to on the internet. Cynthia and Edd suggest that the first thing that really should be done is a self assessment of what you are looking for in your new home abroad in retirement. Because as Cynthia says, “If you don’t know what you’re looking for how will you know when you find it“.

The second thing they suggest is to create a budget. Knowing how much you have to spend is key to making sure that you land in the right location. As well, you need to consider your health. What are your healthcare needs? Are you able to relocate somewhere else where healthcare may be a concern given a possible chronic condition or treatment you are receiving?

As well, people need to remember that they are not planning for a vacation when doing this research. Edd shared that when you plan a vacation, you are looking to get away from your daily life not actually plan your daily life. So to actually live someplace 24/7/365 versus just a week or two is very different requirement.

Once armed with the information of what you are looking for along with your budget, you can then begin to search for what part of the world, the country and what place in that country will meet your needs. For example, if being close to your family is important to you then going to the far east is probably not a good choice as travel time and time differences could make this a very difficult situation.

When you have finally narrowed down your choice (or choices) for where you are considering to relocate, Edd and Cynthia strongly suggest taking a scouting trip for at least two weeks. There are many things that should be researched during this scouting trip to make sure that your potential new country will be a good fit. If you find at the end of the trip that the answer is no, at least you will hopefully have created some good memories to take home with you.

As Edd shared, you can look at many places online which may appeal to your head however until you actually go there and experience it first hand will you know whether it speaks to your heart.

Also during your scouting trip, be sure to connect with people that are already living full time in the location you are considering. There are many online forums that you can join and discuss with people already in the ex-pat community that you may be considering. Most ex-pats are willing to discuss with visitors their experience and share any suggestions and recommendations that they have in making the move.

Should you decide that you have found the place you want to relocate to, now comes the part of unraveling your current life in preparation for the move. For example, you will need to move your financial world online. If you are used to going to the bank or getting your statements in the mail this will all need to change. You will also need to prepare to get a new team in your new chosen location. For example you will need a doctor, a lawyer and anyone else that you may need to help you get your new life established in your new chosen country.

Edd and Cynthia have been living abroad for about a decade however they found that it took about six months for them to feel comfortable.

So, should living abroad in retirement be something that you are possibly interested in, you can get more detailed information on this from Edd and Cynthia’s website – Retirement Reimagined.

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Susan Williams is the Founder of Booming Encore. Being a Boomer herself, Susan loves to discover and share ways to live life to the fullest. She shares her experiences, observations and opinions on living life after 50 and tries to embrace Booming Encore's philosophy of making sure every day matters.