My sister and her husband are in an enviably situation: they’re semi-retiring overseas. Well, Mexico, actually. They’re selling everything they own, leaving the grown kids behind and packing up their laptops, some clothing, two dogs and one cat then heading south.
Doing more research on the topic of retiring overseas, I came across a lot of blogs devoted to the subject, written mostly by retirees who’re offering advice for the less-adventurous. Since it seems to be a growing phenomena, I thought we should add our own article to the list. So, according to my sister and other retirees I know, here are the main reasons to retire in another country.
Why You Should Consider Moving to Another Country When You Retire?
- Move to warmer climes. This is the main reason my sister and her husband are moving. They’re tired of dealing with winter, not only the snow by the heating bills, the need for warmer clothing and the inability to enjoy the things they like to do, like sailing and tennis.
- Your money could go further. There are many countries where your home currency will give you more bang for your buck. Consider the cost of housing, food, transportation and other living expenses. See just how far your retirement savings will go.
- Experience a new culture. My sister and her husband are moving to a very old colonial town, far from the tourists and beaches, to a spot where Mexican art and culture are thriving. My sister is looking forward to the free galleries and museums and the daily markets where local artisan gather to share their knowledge and sell their goods.
- Learn a new language. If you’re fortunate enough to move to a country where your main language is not spoken, then you are truly blessed! As you get older, it’s important to keep learning, not only to boost your capability to remember and process information, but also to feed your spirit. It’s also a great way to meet new people and gain a fresh insight into your new community.
- Pay less taxes. Before you choose where to retire to, it’s a good idea to check the country’s tax laws. Often, you’ll be paying lower taxes and in some cases, no tax at all. If in doubt, talk to a tax lawyer or an international accountant before you move.
- Healthier living. One of the other reasons my sister wants to move south is to have a healthier lifestyle. Not only can she participate in year-round outdoor sports, but she’ll also have access to fresh fruits and vegetables from local farmers and growers. On top of a slower pace and more time to spend with family and friends, my sister and her husband are looking forward to daily siestas and 12-months of gardening a year!