Revolution GrayMany people worry that getting older means settling into whatever life has handed them. Fortunately, a life relegated to the same old daily routine isn’t the only option for soon-to-be retirees. Imagine waking up each morning to push your toes into pearly sand, breathe in the crisp mountain air, or share tea and stories with neighbors from the other side of the globe. If life overseas is how you want to spend your time, here’s what to know before planning a retirement abroad.
Applying for Residency Takes Time
There is no easy method of migrating to a new country. Moving your life overseas takes money, both to afford the move and the visa, and a ton of documentation. More than anything, getting permission to immigrate to a new country takes time.
Spend time looking through government websites (the US immigration side and the country you’re moving to) and use local guide blogs as a resource. You’re not the first to make this move, so look to the experiences of others to make yourself as prepared as possible. Even with all your papers in order, the legal process takes time, so make sure you keep up with permits and visas until you gain residency.
Official Languages Aren’t the Only Ones To Know
As you research a country you’ve never traveled to before, you will come across whatever the country’s official language is. This language is what most documents, street signs, and even menus will use, so it’s the most important to understand. However, when you retire abroad, your new neighbors may not speak just that official language.
For example, in France, you need to adapt how you hear French to understand the variety of dialects used there. The Indian constitution recognizes 22 regional languages but speakers in the country use hundreds more. Keep in mind the region you’re moving to as you take on a linguistical journey, not just the lingua franca.
Some Countries Encourage Retirees To Immigrate
Not every country makes it easy to move there, but some make a point of welcoming retirees. Among the many things worth knowing about retirement in Barbados is that they want you to move there! Barbados has a rich real estate market and welcomes people over 60 to apply for immigrant status with shockingly low fees (less than $2,000 total). Malaysia and Nicaragua also offer unique foreign national retiree incentives, alongside many others.
When you’re in the middle of your life and ready to retire, why not prepare to experience something entirely new for years to come? Before planning a retirement abroad, remember to settle everything at home. You can set yourself up for success later by having a solid understanding of your total assets, where all your documents are, and even when you might come back.