Have you been thinking about it for some time but don’t know where to retire?
Or do you think you already have a good idea of your ideal destination?
Anyway, the following points of interest are interesting and useful for anyone who wants to retire abroad!
Table of Contents
The grass is greener on the other side, or is it? | Where to retire?
More sun, better weather, cheaper living, lower property prices, different culture, different language, more relaxed lifestyle…
Do some of these characteristics sound like music to your ears in your search for the best country to retire to?
Don’t be tempted too quickly, however, or you run the risk of making a fool of yourself.
The grass on the other side may look much greener than it really is!
To avoid such a situation, it is necessary to do your research first.
It is important not to focus solely on the positive aspects of your dream destination.
You want to know the full picture and also identify any downsides so that you get a clear and informed picture of the situation.
However, the pros and cons are different for everyone…
Start with yourself | Where to retire?
There may be some countries about which you have heard promising stories from others who have taken the step.
Haphazardly looking up information about these countries can be fun, but it is not the most efficient way to do your research.
If you want to find your ideal destination for retirement, start with yourself!
Everyone is different and not everyone places the same value on certain things.
So map out your own priorities and wishes and identify the most important ones for your personal situation.
Points of attention
Below is a list of the various aspects that can be taken into account:
- cost of living
- important if you have to live on a (limited) fixed income such as a pension during your retirement
- climate and nature
- health care, think of both availability and cost
- can be very important if, for example, you have a certain condition
- infrastructure
- if you intend to stay in employment, internet, telephone and a good road network may be necessary for you
- education
- security and political stability
- taxes
- language
- perhaps you do not want to learn a new language at all, in which case you are limited to those countries where a language is already spoken
- it is important to be able to communicate locally, otherwise you run the risk of never really feeling at home in your new country
- religion
- culture and entertainment
- connection between your homeland and your new destination
- if you have children or grandchildren with whom you want to maintain a strong relationship, it is important that not only you can easily travel back to your home country, but that it is also easy for them to visit you
- special benefits for pensioners
- cost of property
- this can be the starting point for many to choose a certain country, but do not base your decision only on this factor so that you will not be disappointed later on
This list is not necessarily exhaustive and can certainly be supplemented with other things that you personally value highly.
The intention is to help you on your way and to make you think about all these factors and possibly others.
Then rank them in order of importance, with your absolute requirements at the top.
These are followed by other, less important characteristics that would be desirable, but not extremely necessary.
In this way, you avoid making a decision based on the wrong (or insufficient) factors, which could later lead to you being cheated.
Delete what does not fit
Then you can start the search for possible destinations in the world that match your list.
You can work from large to small and eliminate destinations that do not meet your needs until you are left with a small selection.
Practical example:
- start with the continents,
- maybe you just want to consider Europe to stay relatively close to family and friends if your home country is in Europe
- then move on to the countries and delete any that do not meet your key requirements,
- if a warm climate is a very important requirement, then you end up with only the southern countries
- in the end, perhaps only a handful of countries will remain,
- use your less important wishes to make your selection smaller and smaller
- until you arrive at one country that you absolutely love.
Important tip | Where to retire?
You may already have a very good idea of a particular country to which you want to move to enjoy your retirement.
Even then, the above thinking exercise is recommended!
You may have fallen in love with a particular destination after travelling there many times.
Effectively moving abroad is for many people the last step of tourism.
Going on holiday somewhere is easy and anyone can do it. Moving somewhere, however, is another matter!
Love is blind and that can also be the case for your love of your destination! For example, a lot of people are really in love with France [AVAILABLE SOON].
So don’t let Cupid blind you just so you can get lucky with your new home.
This thinking exercise can, for example, reveal weaknesses and make you realise that your beloved dream destination is perhaps not so ideal after all.
Or it can open your eyes and broaden your horizons, allowing you to consider other destinations that might better suit your needs.
On the other hand, it can also be just confirming, making you even more sure of your dream destination if it scores very well on your list.
So take a pen and paper and start, good luck!
Not retired yet, but looking for a good investment property?
A good real estate investment can give you more return on your savings as a professional. Moreover, and very importantly, it allows you to earn additional passive income when you retire:
For instant returns on your savings
You may wish to withdraw your savings from your savings account in order to obtain a decent return elsewhere… Investing in real estate can certainly be a solution. You can even do it without any worries with an offer with rental guarantee [AVAILABLE SOON]!
After all, investing in real estate with a rental guarantee [AVAILABLE SOON] offers the advantages of a classic savings account with a guaranteed return.
Check out the following real estate investments that can be a perfect alternative to your savings account:
- Invest in holiday homes in France with a minimum return of 7% and 6 weeks free personal use per year
- Invest in German property with a carefree rental guarantee
- Recreational real estate as a carefree investment property – Participation is possible from EUR 15 750 with an initial yield of 7%
- Student accommodation in Leuven as an investment [AVAILABLE SOON] with 5 year rental guarantee
- Swedish single-family houses for rent [AVAILABLE SOON] as a buy-to-let property – Value for money, with a decent plot of land
And for extra income during your retirement years
If you do it wisely, with a well thought-out real estate portfolio, you can provide for your own retirement income!
Read more about financial retirement planning with real estate on the following pages:
- How to generate passive retirement income with real estate? [AVAILABLE SOON] Learn more from frequently asked questions
- How to build up an extra pension? [AVAILABLE SOON] Eight reasons to choose buy-to-let investment real estate
- How many pennies do I need for my retirement years? [AVAILABLE SOON] Tips for correct assessment
- Real estate vs. traditional pension savings in the context of saving for retirement [AVAILABLE SOON]