Two years ago, when I was returning from a trip to Florida, I met a man who had retired in Costa Rica. He said the costs had gone up since he first moved there, but that living in Costa Rica was still offering savings. If you've fantasized about living overseas – especially in a warm, exotic place – you may want to the take the time to investigate the possibilities.
One of the first things to consider is whether you'd be comfortable living a long distance from your family, friends, and hometown. When one of my daughters lived in Spain for five years, it was difficult to be able to see her only about once a year.
Five issues to consider before you decide to retire overseas are offered in "Deciding to Retire Abroad" by Jenny C. McCune on Bankrate.com. The issues include:
- Look at your budget.
- Examine your priorities including climate, activities, health care, and costs.
- Investigate tax ramifications.
- Find out visa requirements.
- Get to know the country.
McCune suggests those interested in retiring overseas read "The Grown Up's Guide to Retiring Abroad" by Roseanne Knorr.
Web sites offering information on retiring abroad abound. Some include:
International Living offers a Web page on 10 Places Your Dollar Buys a Lot of Beach. The list includes:
- Costa Rica
- Dominican Republic
- Guadeloupe and Martinique
My next post on The Survive and Thrive Boomer Guide will offer a tip on a vacation treat in Miami, art in a botanical garden.