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How And Where To Retire Overseas

Live And Invest Overseas by Live And Invest Overseas
Apr 30, 2012
in Retirement/Living
0
A lady on a beach under the sun knows that "retire overseas" is shorthand for the opportunity on the table.
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Day 1 In Scottsdale—How And Where To Retire Overseas

“The world is alive with opportunity.

“Specifically, in the context of this Retire Overseas Conference, the world is alive with opportunity for places and ways to enjoy an interesting, welcoming, beautiful, friendly, engaging, adventure-filled, and, sometimes, very affordable retirement.

“That’s our starting point,” I explained bright and early this sunny Arizona morning to the group assembled with us here in Scottsdale this week.

“Over the coming three days,” I continued, “we’re going to introduce you to your current best options worldwide for where to spend your retirement years, depending on your personal circumstances, priorities, and agendas.

“We’re also going to walk you, in detail, your hand in ours, through the seven key issues you’ll face no matter where in the world you decide to relocate, from health insurance and medical care to residency visas and figuring your retirement budget.

“However, before we get to all that, I’d like to take a step back with you and consider this big idea big picture, because, the truth is, retiring overseas isn’t for everyone.

“Who should retire overseas? To make a success of this, you need three characteristics, primarily:

  • Open-mindedness…
  • A spirit of adventure…
  • A good sense of humor…

“I’d say that everyone in this room today has an open mind and a spirit of adventure. You’re here because you’re looking for something new, something better, something bigger, something different, something other. I’d say you’re ideally suited to make a great success of this adventure precisely because you’re considering it. Just don’t forget your sense of humor. Your new life, wherever you choose to launch it, will be filled with delight and discovery.

“It will also be maddening. It will frustrate you, day by day, week by week. Some days, nothing you encounter and no one you come into contact with will make sense. But life in your new country of residence doesn’t need to make sense to you. Neither are you going to change it. You’re going to have to adjust to accommodate it as you find it. Along the way, it’ll help if you’re able to laugh…”

Following my opening remarks this morning, we launched into a series of panel discussions. Our program for this Retire Overseas Conference has been conceived to provide full-spectrum information and insights–pluses and minuses, good and bad–and to showcase as many different points of view as possible.

First up on stage were Lief Simon and Paul Terhorst, our resident bean counters, the two guys I know who are most experienced and most expert at counting costs and calculating budgets. Lief and Paul walked the group through the thinking that goes into figuring out where you can afford to retire.

“The question,” Lief explained, “isn’t how much does it cost to retire overseas?

“The question,” he continued, “is how much money do you have to retire on?”

Lief and Paul then proceeded to show attendees how to determine the answer to that question.

“Once you know the size of your retirement nest egg,” Paul explained, “then you can figure out where that nest egg will buy you the retirement you want.

“In fact, though,” Paul continued, “I’d say that’s not the way to approach this. That’s backwards. Start by thinking through the life you want. Imagine your ideal lifestyle. Then look at the numbers in that context. Where will the budget you’ve got buy you the lifestyle you’re looking for?”

Lief and Paul left the stage…and were replaced by Lee Harrison, Mike Cobb, and Paul Reynolds, our three top Latin America experts. Lee, Mike, and Paul spent the next hour showing attendees the pluses (accessibility, affordability, great weather, and lack of regulation) and the minuses (infrastructure, the manana mentality, and lack of regulation) of the region where they each, for very different reasons, have, for decades, been focusing their time and attention.

Next up, our Euro-experts: Lucy Culpepper, Nikki di Girolamo, and Lief Simon. Advantages of Europe, according to Lucy, Nikki, and Lief? Infrastructure, culture, overall quality of life, and health care. Disadvantages? Language and cost. The good news, though, as Lucy, Nikki, and Lief all can attest from personal experience, is that the cost of living in Europe can be much, much less than you might imagine. Lucy and Nikki identified particular Euro-regions and particular towns, including Sitges in Spain, Languedoc in France, and Abruzzo in Italy, where the cost of living in retirement can qualify as very low.

Finally, our Asia pros: Paul and Vicki Terhorst and Wendy and David Justice. Pluses of Asia, according to our Asia experts? In fact, in this case, there’s one great big serious plus: the cost of living. As Paul Terhorst put it, “Everywhere in Asia is cheaper than the cheapest options in Latin America.”

That put things into perspective.

Downsides to Asia? It’s exotic, it’s far away, and you’ll struggle to be understood, sometimes even to read a restaurant menu. For the right person, though, the unbelievably low cost of enjoying the exotic delights of this part of the world can more than offset the associated challenges.

As I write, we’re enjoying lunch. After lunch, we’ll launch into a series of half-hour country-specific workshops, to begin to introduce in detail, with the help of expats with firsthand experience in each case, the world’s current 20 top retirement havens.

More from the scene tomorrow…

Kathleen Peddicord

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Tags: 'how to retire overseas''retire to asia''retire to europe''Retire To Latin America''Where To Retire Overseas'The Cheapest Places In The World To Retire
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Live and Invest Overseas is the world's savviest source for top opportunities to live better, retire in style, invest for profit, do business, and own real estate overseas. Established in 2008, the Live and Invest Overseas' editors and correspondents have more experience researching and reporting on top opportunities for living well, investing for profit, doing business, and owning real estate around the world than anyone else you'll find.

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