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Tuesday, December 19, 2006

Retiring Abroad – Should You Do It?

You have worked hard all your life and now you want to relax and enjoy your “golden years” in comfort and not worry about money, for many people this now means retiring overseas.

With inflation high, state support low and everyone living longer, many people are considering retiring abroad to make there money go further.

Should you consider retiring overseas?

The answer is yes, but you need to be careful with the location you choose.

There are many places you can choose to live.

The problem is that many people find retiring abroad is either paradise on earth, or they are hit by a culture shock.

So what do you need to consider to find a location that suits you when retiring overseas?

Let’s find out.

The three most important questions you need to ask yourself are:

How far away from your loved ones and your country of origin do you want to be?

Many people retire thousands of miles away and feel isolated.

If you want to retire abroad you may want to consider being close to home so that you can keep in touch with family and friends.

2. What about the living conditions?

Sure you may have a nice house, but if you are surrounded by street children, high crime, poverty and the atmosphere is generally depressing, you won’t have a good time.

3. How big is the foreign community?

People who retire abroad normally want to have people around them they can socialize with who are farmiliar with the same culture.

If its an area where there is a community from your country of origin you are more likely to enjoy yourself, unless you are comfortable integrating into the existing native community.

4. Facilities

What are the facilities like?

Do you have shops, roads and communications that are of a high standard?

These will normally be available in countries with large foreign communities.

What is a good country to retire to?

There are many to choose from but its best to stick with established destinations rather than up and coming ones.

One of the most popular with Americans and other foreigners is Costa Rica.

The country is just a 3 hour direct flight from the US, is beautiful, a stable democracy and has low crime.

With ocean view property available at up to 70% less than on the US coast, combined with a great standard of living its a good solid choice

Here you can live on around $2,500 a month and have a good standard of living.

Furthermore, because it is an established destination with ammenities that are of a very high standard compared to its neighbors such as Nicaragua, Honduras or Belize.

With a large community of foreigners and friendly locals it’s an easy place to integrate and feel at home.

Costa Rica is and will remain, one of the top retirement destinations and record numbers of Americans are moving here.