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Planning Your Retirement Overseas

“I Had No Idea All This Help Was Available…”

“We’ve done the big house, the fancy car, and the diamonds. We’ve lived that life. Now we want something else.

“We’re thinking Cayo, Belize. We want to volunteer in the local community. We want to walk to a local market to buy our vegetables each day. We want to know our neighbors…”

–Overheard at this week’s Retire Overseas Conference

“I read something you wrote on Thailand several months ago and decided that that was the place for me,” explained an attendee at this week’s Retire Overseas Conference in San Antonio who approached me during the Welcome Cocktail Reception.

“So I bought a ticket, and I went to Thailand.

“But, then, when I arrived, I realized that I had no idea what to do. I didn’t even know where to turn for help. I didn’t know anyone.

“I went to a real estate agent’s office and asked him if he could tell me how to establish residency. He said he had no idea what I was talking about.

“I wandered around for a couple of weeks, and then I returned home. I didn’t know what else to do.

“Then, just a few weeks ago, I read about this conference you were having here in Texas. I didn’t want to give up on my idea of moving overseas, so I signed up…and here I am,” the attendee continued.

“I can’t get over this,” he said looking around the reception room where we stood amidst more than 250 attendees and more than 70 speakers.

“I had no idea you had this much reach or all these resources. I just had no idea that all this help was available…”

As I explained to the group assembled for this week’s event, there are many ways to retire overseas, some more efficient than others.

The least efficient strategy is to take off for a new place unprepared and without a plan.

That’s why, this week in Texas, we’re arming all our Retire Overseas Conference attendees with a plan. The program for this event has been built around a series of panel discussions on each of the critical issues the would-be retiree overseas must address—namely:

  • Getting Your Finances In Shape (that is, figuring out how much money you have to retire on)
  • Addressing The Nuts And Bolts Of Getting Established Overseas (such as shipping your household belongings, opening a bank account, accessing cash, paying bills, installing utilities, buying a car, etc.)
  • Considering Your Top Options For Residency (if you intend to live in your new home full-time)
  • Understanding The Tax Implications Of Being A Retiree Overseas
  • Navigating The Property Question (that is, either renting or buying a new home)
  • Health Care And Health Insurance
  • Settling Into Your New Life (making friends, becoming part of the community, learning a new language, volunteering, and getting to know your new home town)

I applaud the attendee who made a false-start in Thailand, because, that detour notwithstanding, he hasn’t given up on his dream. He’s here now preparing to re-launch his retire-overseas adventure…this time with a clear-cut plan.

Kathleen Peddicord

Continue Reading: Climate In Boquete, Panama, And Cayo, Belize

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