Retire Overseas? Piece Of Cake

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“I’m ready to make my move, Kathleen,” explained an attendee at our recent retire overseas conference in Medellin, Colombia. “I’m ready to go for it.

“But I’m so confused. I mean, what do I do first? And then what do I do second?

“Could you break it down for me, as though I were a child? Seriously, speak to me like one of your children. I need a step-by-step plan…”

Here you go:

Step 1: Identify a destination. Where depends on what’s important to you, what kind of lifestyle you want to lead, and how much money you have to fund your retirement…

Step 2: If you intend to relocate full-time, arrange to meet with an attorney in your chosen destination, one experienced helping foreigners established residency, to determine the best residency visa option given your circumstances. If you don’t intend to relocate full-time, skip to         Step 3…

Step 3: Speak with a tax advisor (an attorney who specializes in taxation is best) in your chosen destination…and, as well, with a tax advisor (again, an attorney experienced with international tax issues) in your home country. If you’re an American, it’s especially important that you identify two advisors and connect the dots of your new tax life with those of your old one…

Step 4: Research real estate options in your destination. I strongly recommend you rent first, to give yourself a chance to try your new home (country, town, neighborhood, street, beach) on for size before committing to a real estate purchase…but there are times when buying can make sense, too…

Step 5: Research health insurance options, comparing local, in-country policies (cost, coverage, restrictions) with those of international options like Bupa… 

Step 6: Take your administrative life virtual. Make sure you can access all bank accounts, brokerage accounts, credit card accounts, and investment portfolio online and that you can move money around from one to another electronically…

Step 7: Figure out what to do with all your stuff. What’s coming with you, what’s going in storage, what’s being sold, and what’s being given away…

Step 8: Show up and start enjoying your new life…

Piece of cake.

This is the approach we’ll take during our Retire Overseas Conference taking place in Nashville next month.

For this year’s event, we’re featuring 21 top retirement havens, including your best options in the Americas, Europe, and Asia.

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About Author

Kathleen Peddicord

Kathleen Peddicord is the founder of the Live and Invest Overseas publishing group. With 30 years of experience covering this beat, Kathleen reports daily on current opportunities for living, retiring and investing overseas in her daily e-letter. Her newest book, "How To Buy Real Estate Overseas," published by Wiley & Sons, is the culmination of decades of personal experience living and investing around the world.