Do you feel disappointed by the summer so far or perhaps let down by the new coalition? Or do you just feel that if you want to avoid austerity affecting your retirement savings, you need to seek pastures new and move abroad in retirement for a guaranteed better standard of living?
Whatever your personal motivations are for considering relocation in retirement, we’re here today to furnish you with the 5 top reasons to retire abroad – some are factors you may already have considered perhaps – but we also want to open your eyes and mind to new reasons to consider moving abroad in later life. Many of them are fiscally related!
What all of these factors have in common is that they are universally true; and if you’re trying to convince family and friends that a move overseas will be right for you, these tips will give you the ammunition you need to power your argument! Before you know it you will be jetting off to your brand new life abroad.
1) You can avoid the damaging effects of austerity by moving abroad. The banks have bankrupted the nation and Britain is deeply in debt; high inflation is likely to become a reality and then our savings will be eroded in terms of their real value. It’s possible that we will be more aggressively taxed on the income we draw in retirement, on savings we hold and on our lifestyle thanks to VAT. If you want to avoid all of these issues you can move abroad to a nation where the economy is in a better position.
2) You can avoid the damaging effects of excessive taxation by moving abroad. Once you become non-resident for tax purposes in the UK you can become far more creative with the management of your money when it comes to the legitimate avoidance of excessive taxation. As mentioned in the above point, austerity measures will likely include increased taxation in the UK – but when you live in many nations abroad you will find you can keep your money out of the UK and even out of your new nation and invest it in such a way that it is protected from the erosion of taxation. This is a benefit of becoming an expat – it is a purely legitimate benefit as well! Naturally, the less you are taxed the more money you have to spend, invest and enjoy.
3) You can enjoy a better lifestyle if you move abroad in retirement. If you search and seek out the most favourable nation for you to retire to and you then move there and enhance your savings and investment status by embracing the offshore options available to expats, not only will you be living somewhere you want to be living, you will have far more money to enjoy and spend living that lifestyle!
4) You can potentially have access to better healthcare than you have ever enjoyed in your life! This is probably a controversial claim – but if you move abroad in retirement, depending on where you choose, you may well have to pay for accessing healthcare in the form of medical insurance. Naturally enough, when you pay for insurance and pay to go private, you will potentially have access to better quality healthcare! If you save and invest your money effectively, you will have enough cash to pay for a good level of insurance.
5) Your freedom of country choice can lead you to a nation where there is less crime and a better pace of life. You can choose where you want to live in retirement because you are not restricted in your choice by needing to find somewhere you can find a job and educate your children. As a result you are free to choose a country where there is less crime, better weather, better healthcare, a slower pace of laid back life, and where the people are friendly and the cuisine is good! Because your money matters can be sorted out according to the above ideas and suggestions, you will be free to choose to live in a country that suits you!
We hope these ideas motivate and inspire you to think more seriously about your relocation abroad in retirement…because having just come back from visiting retired friends overseas, it’s clear that they are having the time of their life having made the move and started a new life. The one thing they got right was the investment of their money - and now they have no concerns at all!
