Lifestyle articles for anyone planning a retirement abroad as well as those who have already retired overseas
A guide to finding the right country for you to retire to based on your own personal affordability criteria
The reality of austerity is beginning to bite us Britons; slowly but surely we’re all becoming more aware of the fact that we have less to spend today than we did just five years ago – and the reality is, it’s going to get an awful lot worse before it can get any better.
The British government has created a massive deficit – a debt black hole if you like – and the only way they can fill it is with tax. Tax on savings, income, capital gains, pensions and retirement income, tax on goods and services; in other words tax on every aspect of our lives. However, we have a choice, and the choice relates to whether or not we choose to remain living in Great Britain and bailing out the economy.
If you’d rather see your pension income go far further in retirement you can opt out and move abroad – but where in the world are the cheapest countries to live? As we have already examined a handful of affordable countries that may be suitable for you in recent articles, we have decided that today we should instead help you find your own cheap country overseas in case you don’t like our suggestions! We will show you how you can use a series of affordability criteria when you search and review each nation you’re considering – and in so doing you can assess the cheapest countries to retire in and find your own ideal country abroad.
When it comes to retirement, affording the best lifestyle is key. Those who want to retire abroad should consider getting offshore financial planning advice early on so that they can explore all their options. There may be tax advantages to transferring a pension offshore for example. From QROPS to offshore bank accounts we cover everything an expat needs to know.
Why are hundreds of thousands of public sector workers on strike in the UK today? Because of proposed pension reforms that will affect when they retire and how much pension they will receive. This proves that there’s a bottom line when it comes to retirement. And it’s not about putting your feet up, having more spare time or enjoying greater personal freedom. It’s all about the money.
For many people it pays to retire abroad because their money goes far further in lower cost nations. However, as research from currency experts HiFX shows, many retired British expats are failing to make the most of their offshore financial status and are suffering as a result.
This is why offshore financial planning is absolutely critical when it comes to retiring abroad. If you’re planning or just dreaming about living a better life in a beautiful nation when you retire, read on for top financial planning tips. They may make the difference between a frugal retirement abroad and an affluent one!
If you want to retire abroad you will probably discover that you have a whole heap of questions that need answering! From concerns about healthcare, pensions and property laws to worries about your pets, family and friends we’ve got your top 10 concerns covered…
On the face of it there’s not a lot keeping retired persons in the UK nowadays - the general feeling in Britain is not a positive one, economically the country is suffering, the weather doesn’t ever get any better, and the health, wealth and lifestyle aspects of retirement can often be improved upon with a relocation abroad.
However, because moving is a massive undertaking – and moving abroad brings with it additional challenges and issues – a cautious approach should be applied if a would-be expat retiree wants to be assured of success.
If you’re thinking about relocating overseas in retirement you very likely have a whole host of questions that need answering. Naturally enough we frequently hear from those who are planning a retirement abroad, and often the same questions come up. Today we have decided to answer your top 10 retirement abroad questions in this report, so that once you know some of the most fundamental facts you can get on with actually planning your international relocation.
The dampened fiscal state of the nation is doing nothing to deter British retirees from wanting to move to live abroad – if you share the desire to retire overseas you cannot risk making the move before you’ve understood these 3 critical considerations…
According to the Centre for Future Studies, 1 in 8 Britons rapidly approaching retirement has a keen interest in retiring abroad – and our own findings go hand in hand with this information. Despite the global economic squeeze and the particular impact this has had on Britons’ aspirations when it comes to living abroad, the desire to relocate is still strong.
If you’re hoping that your finances will take you overseas in retirement and provide you with an exceptional quality of life, and you’re actively researching and planning your move, there are 3 important considerations for Brits retiring abroad that we would like to draw your attention to today.
Country based research, property searches and even looking at affordability in terms of daily living costs etc., are all commonly undertaken by anyone thinking about retiring abroad…but the following 3 considerations are sometimes overlooked. Because Shelter Offshore is all about information sharing and the dissemination of helpful facts, please allow us to highlight the following important issues for your consideration…
Some nations are geared up for foreign retirees, and life living abroad in retirement can be great – other countries have too many negative aspects and can turn the dream of retirement into a nightmare for expats. We urge would-be expat retirees to do their country research carefully and to ditch the rose coloured glasses when it comes to Turkey for example.
If you look at the statistics you’ll see that month-on-month there are plenty of Internet searches related to “living in Turkey” – and the popularity of this one particular nation, especially for Brits, is its perceived and relative affordability. However, when it comes to actually committing to live in Turkey, is it a nation suited to expats?
Perhaps the most vulnerable group of people when it comes to moving abroad are retirees – why do I say this? Well, they are a demographic often living on a fixed income, with limited desire or prospects for employment, who may in time need greater personal support in the form of medical care for example, and who therefore need to think very carefully about their move from multiple angles.
So, is it realistic for any Briton to consider retiring to Turkey? Our considered answer may surprise you! You may feel that retiring to a nation that’s allegedly poised on the cusp of EU entry, where the cost of living and property can be exceptionally cheap, and where the weather can be wonderful makes absolute sense…however, the reality of living as a foreigner in this particular nation can be tough.
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The British government may be considering abolishing the requirement to buy an annuity with your pension, but until they do, if you want any form of freedom in retirement you need to retire abroad! That way you can potentially free your pension thanks to the likes of QROPS, and you can certainly find a more affordable, potentially improved lifestyle as well – as long as you make your country choice carefully.
So, whilst the likes of France and Spain, Italy and Portugal have been popular for the past couple of decades with would-be expat retirees, where will the savvy be heading in 2011 if they want to retire abroad and find an affordable lifestyle? Thanks to feedback from a handful of Shelter Offshore readers who are currently in the planning stages of their international retirement, we’ve been given some very valuable insight into the current country choices.
If you want to know where to look for a decent standard of living and an improved cost of living, read on to discover 7 2011 retirement abroad hotspots…we’ll give you the pros and cons of each country.
For many people it can literally pay massive dividends to retire abroad and take your pension pot out of the UK, away from forced annuity purchase and into a tax efficient, investment friendly realm…read on to discover more.
The big pension news in the UK this month is that annuity rates have risen for the first time in ages – much is being made of this increase in underlying offerings from the likes of Legal & General, Aviva, Aegon, Just Retirement, LV= and Canada Life…however, the fact of the matter is, the long-term outlook for annuities is actually far from positive.
At the moment annuity providers pay men more than they pay women, but this is likely to change next year when it’s widely expected that the European Court of Justice will rule that this is unfair on sex equality grounds. Annuity rates for men will then probably fall – inflation is also starting to nip at the heels of annuity rates offered, and all in all, if you’re planning on retiring in the UK with a British pension, the outlook is far from positive for you.
However, we’re not in the business of promoting doom and gloom! Which is why we’re here to tell you that it can actually pay – quite literally – to retire abroad instead. Not only can you likely benefit from better weather, a lower cost of living and an improved lifestyle by retiring to a paradise in the sun overseas, there are also far, far better options open to many overseas retirees when it comes to benefiting from their pension income.
If you want to retire abroad to sunnier skies and escape the economic and literal chill in the UK, there are three critical financial issues you absolutely must take into account before you emigrate if you want to be assured of a successful retirement overseas
According to a leading British currency broker, there has been up to a 28% increase in the number of British retirees returning home to the UK from their new lives abroad in the past year, and the number one reason cited across the board was a financial one.
It has been a tough year for everyone in terms of economic woes, no matter where in the world you live it seems. However, there are 3 key costly issues that are most likely to affect you if you’re retiring overseas, and you really need to guard against them so that your retirement can be a secure and happy one.
In this report we’re going to highlight the 3 main financial concerns would-be expat retirees need to keep in mind when planning an overseas retirement. If you’re already living abroad, these 3 issues can still potentially be guarded against or at least managed…and ultimately, if you want to ensure you’re not forced to give up your dream and return home, read on to learn more about the costly mistakes you need to avoid.
If you’re contemplating a retirement abroad, there are a number of key criteria that you need to consider when you’re planning where to retire…we detail them for you so that you have a retirement abroad checklist to follow
The decision to retire abroad is one being taken and embraced by increasing numbers of Britons who are all disillusioned with their country of domicile, and/or who want to see more of the world as soon as they have the time on their hands to do so.
If you’re actively considering making a new home from home abroad in retirement, this report will cover the key criteria you need to consider before you commit to the move overseas.
We’re going to cover all the key criteria you need to consider when retiring abroad, so that you don’t overlook any aspect of your planning that could be critical to your success as an expatriate. You can use this report as your checklist to a new life abroad in retirement!
A complete breakdown of what it can cost you to live day-to-day in Panama with the cost of living provided by expatriate residents on the ground – an invaluable guide for anyone thinking about retiring to Panama or moving to start a new life in this fabulous Central American nation
For Britons it’s not that difficult to work out the cost of moving to live in the likes of France, Spain or Italy as they are effectively on our doorstep – or at worst a short hop away from the UK. But for those who want to move and retire further afield to somewhere as exotic and exciting as Panama for example, getting a feel for the true cost of living can be tricky to say the least.
Panama has been repeatedly cited as one of the best places to live and retire abroad in recent years by multiple publications: it seems to achieve a ‘perfect’ balance between quality of life and cost of living. In addition, it’s a nation where the overall star is rising as investment into the extension and advancement of the Canal means that economic growth is ongoing.
The nation has long been a favourite with North American retirees, but finally we Britons are becoming aware of its appeal too. However, as stated, it can be really hard to get a good firm grip on what it could cost to retire there…until now! With sincere thanks to Jack and Ruthie Burns, expats now living in Panama, we can bring you the up to date cost of living and retiring to Panama to help you determine whether it’s the right nation for your retirement abroad.