The life changes that retirees plan for once they stop working can vary from something as simple to sleeping in to moving from one country to another. Despite planning for these changes, some people find it quite unsettling since they feel they’re on unfamiliar ground. Of course, if you’re one of those people who can’t wait to move to another country, here are some items you’ll want to consider before you do.
Ideally, as a retiree, you’ll have the use of most of your money and won’t be paying a large amount of taxes. You’ll want to talk to a tax expert who lives in the country you’re thinking of moving to before you make any official plans, so you know what the daily average cost of living is, as well as annual taxes people pay on homes on property.
If the county is in a location where everything has to be shipped in, you need to research the cost of food there also. Along with the regular cost of the store food, those store owners are also going to account for the price of transportation. Depending on how large your family is, you may need to make this one of your larger planned bills for each month.
When thinking about your monthly costs, transportation is another item to think about in terms of whether you want to own and drive your own vehicle or simply pay for public transportation. For example, if you live in the countryside, you may want to have a car; however, if you live in the city, public transportation might be more cost effective over time.
It may not be your first thought, but you should consider how you’ll be treated differently by the local laws as a resident versus a citizen who is native to the country. Will there be any problems transferring money from retirement income from one country to another? What is your resource is problems develop in your interactions between native citizens and yourself? While you may not have plan on having any problems, it’s always wise to protect yourself with legal help, just in case.
Finally, if you really want to live in another country and enjoy yourself, you will want to assimilate and learn their customs. You’ll be far better able to relax during your days and stand out much less from those who natively live there. While they may identify you as a stranger to the country, by making yourself approachable and putting this effort forth, they will work harder to teach you. All of these items together will make your retirement that much better, that much more relaxed and that much more to look forward to.