Here’s Why You Should Consider Retiring Abroad
Most nine-to-five workers dream of the day they’ll finally be able to say goodbye to the daily grind and have the freedom to do whatever they want, whenever they want. While most pre-retirees have already planned out how they’re going to spend their free time after retirement, they still don’t know if their savings will be enough to keep them afloat after the monthly paychecks stop rolling in.
If you want to make the most out of your retirement without having to worry about the finances, you should consider retiring abroad. Here’s why:
Cost of Living is Higher in U.S. Than in Most Countries
Living in the U.S. is great as long as you’re earning there too, but once you are retired and no longer raking in the dough, it’s time to consider moving elsewhere. Numbeo.com has named the U.S. one of the most expensive countries in the world to live in, and with most American households ending up with little savings upon retirement, it becomes harder to maintain a high standard of living in the U.S.
There are several alternative countries with decreased cost of living where you could enjoy life without letting your savings take a beating. One of the major advantages of living in a cheaper country is affordable healthcare that can come in handy in old age.
Higher Living Standards and Consistently Warm Weather
If higher living standards to you mean sipping pina coladas on warm, sandy beaches, then there are many countries where you can live your dream without breaking the bank. In fact, some of the best tropical countries in the world are actually the cheapest! There you can find cheaper healthcare, affordable caretaker to look after you in old age and every other luxury that you can think of.
Weather is also an important factor that you must consider after retirement. Cold, harsh temperatures in the winter can have a negative impact on your health, especially in old age. There are places with clear blue skies which offer a promise of consistently warm weather all year long for plenty of outdoor activities and tanning sessions.
For a Sense of Fulfillment and Happiness
You’ve spent a lifetime working hard and in your daily nine-to-five grind, you’ve had to sacrifice some of your own hobbies and aspiration. Retirement is the perfect time to start checking things off your bucket list so that you never have to back on life with regret that you never managed to do all those things that you wish you had done.
Even in your golden years, there is time to fulfill all your wishes and the best way to experience life to the fullest is by stepping out of your comfort zone and seeing different places. Filling your retired life with a sense of adventure and excitement is also great for your physical and mental health.
Studies have shown that after retirement, most people lose their sense of purpose and happiness which eventually leads to depression in old age. The lack of mental stimulation can also lead to diseases such as Alzheimer’s which makes traveling after retirement a very important part of your life.
To Make Every Moment Count
Retirement is a great reminder that time is quickly running out and you must make the most out of the few good years left before old age creeps up on you. Travelling will give you an opportunity to turn a new leaf in life and start fresh.
Use your new-found freedom to do everything that you wanted to do. From experiencing new cuisines and cultures to making new friends and exploring unfamiliar places, the opportunities are endless. Settling in a new country may sound daunting since it’s hard to know how the experience will turn out to be but despite everything, you can rest assured that your new life will be filled with adventure and the travelling after retirement may turn out to be the best decision of your life.
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