Q&A: Is it Better to Retire Abroad or Live the Rest of Your Life to Where You Grew Up

Posted by Mary Grace under Retirement Planning on April 6, 2016

Think carefully about planning to retire abroad. A reader of Retirement Planning IQ asked a question about this. Samuel Dane is a 48 years old living in South Dakota. He is saving and investing money for his retirement. Sam just want to know if retiring overseas is a good idea or not.

Here’s what he want to know;

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“I’ve been reading Retirement Planning IQ.com. I found it very useful. I want to know what are the best places to retire in the world since I have a plan to retire abroad. BTW, how much money should I spend when I retire abroad. Should I change my plan or not? — Thanks, Samuel”

Let spend some time to answer the following questions;

  • Things to consider when planning to retire abroad.
  • What are the best places to retire overseas?
  • Is changing your “retirement plan” a good idea?

If You are Planning to Retire Abroad

If you plan to retire overseas, you better find out your desired lifestyle. If you live in abroad during your retirement, you must know the style of living of the people there. Some places abroad didn’t required huge sum of money to be happy.

Some people in some places are happy sitting with their friends watching the sunset and sunrise while having their coffee. Some are happy while watching seabirds fly and walking along the seashore.

Aside from your desired lifestyle, you must think the cost of living. Although there are beautiful places to retire abroad, you must think that even if the people have the simple lifestyle, they might spend more money in their houses. You have to think the cost of houses or rentals if you are planning to retire abroad. You don’t want to spend your money just to pay your rent or houses.

Image Credit: Pedro Ribeiro Simões on CC 2.0 via Flickr

Image Credit: Pedro Ribeiro Simões on CC 2.0 via Flickr

What are the Best Places to Retire Abroad?

You have many choices. You should start thinking about the best “continent”. Do you prefer to retire in North America, South America, Australia, Europe, Asia or Africa?

First, think about the things you want to do when you retire. And then, find out the best places that can help you do what you want to do when you retire. Do you love to spend your time with beautiful and smiling faces in a beach or in a city? Do you love to live in a life with peaceful community? Or do you want to take good care of animals when you retire.

Find time to research the best places in each continent. If you plan to retire in Europe, can you afford it? Or should you prefer to retire in the beautiful countries in Asia with low-cost of living.

Is changing your “retirement plan” a good idea?

Actually it is a good idea if you change your retirement plan if you think the plan is not suitable in your retirement dreams. However, you must do a certain changes as soon as you can.

Fix your retirement plan immediately. When you change your retirement plan, you should find out if the money required to save is still enough. Your goal must be to retire happy, rich and comfortable. Right?

Also, don’t change your retirement plan just for the sake of choosing the best places to retire. As I have said awhile ago, there are beautiful places that didn’t require huge some of money.

Conclusion

Any places can be the best places to retire as long as you are happy and comfortable in your preferred lifestyle in your chosen place. Believe me, the best places to retire is the places where your loved ones and important people in your life are there.

You don’t want to spend your life in a very beautiful and affordable places to retire wherein you are not happy and satisfied. The most important questions to ask in retirement planning is “to whom do you want to spend the rest of your life”.

What is your thought on this post? For you what is the best places to retire and how do you know it is the best place and the right place to retire in? Let other readers of Retirement Planning IQ read your opinion about this matter. In my next article, I will share to you, why retirement planning really matters! Stay tune to this blog. Good luck to your journey. Share your thoughts if you are planning to retire abroad. Thanks!

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