To retire overseas will involve a life change, no matter where one chooses to retire to. Each country is very different and has its own unique culture that one will have to adapt to. Furthermore, one may very well have to learn a new language and get used to eating different food than what he or she has been accustomed to.
On the other hand, retiring overseas has many advantages. The cost of living abroad is usually much lower than it is in the United States. This enables a retiree who does not have a lot of money to live comfortably on a small pension. Popular overseas retirement destinations often have great weather year round and many varied forms of entertainment.
Cost of Retiring Overseas
A person who wants to retire overseas should consider the cost of living in the country of his or her choice. Some of the cheapest countries to retire to are Mexico, Thailand and Malaysia. However, many Central and South American countries also have a significantly lower cost of living than the United States. As the cost of living varies from country to country, one should do some research before moving abroad. A good website with helpful information on how much it costs to retire overseas is numbeo.com.
Obtaining a Visa
A person who wants to retire abroad will in most instances be required to obtain a visa.
Visa requirements vary from nation to nation, so the best course of action would be to visit the embassy or consulate of the country in question and ask for detailed information.
Many countries offer a retirement visa or similar type of visa. One will need to have a passport and two passport sized photographs in order to apply for such a visa. In nearly all cases, an individual will need to show proof of income; most countries stipulate a minimum income that one must have in order to obtain a retirement visa. Some countries also require that one get a medical examination and provide a health certificate when applying for a visa.
Where to Retire Overseas
It is challenging to choose a retirement destination. As was noted above, some of the cheapest places to retire to are Thailand, Malaysia and Mexico. However, a retiree who does not want to learn a new language may want to consider retiring to either Belize or Panama. Belize’s national language is English while Panama City in Panama has many people who are fluent in English. Those who are concerned about having high quality medical care abroad should consider retiring in Mexico, Panama or South Africa.
It is hard to say which country is the best retirement destination. A lot depends on what a person wants to do and see during his or her golden years. Often, it is a good idea to visit a number of countries before taking the plunge and moving abroad. Doing so can give one a good idea as to where he or she wants to retire overseas.
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