6 Reasons to Retire Overseas

Moving abroad can result in lower costs and a higher quality of life.

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Look beyond Florida and Arizona and your retirement options get exciting. There can be much more to life than the way you’ve been living it. By considering retirement choices overseas, your days can become full of discovery and adventure. You can reinvent not only your life, but yourself too. What did you want to be when you grew up? Here’s your second chance.

[See 7 Affordable Places to Retire Abroad.]

This is reason enough for many to consider a move to another country at this stage of life. But it’s certainly not the only benefit of retiring overseas. Here are five other reasons to consider retirement abroad.

Permanent summer. You can escape winter. Throw away your snow shovel.

Reduced expenses. Retirees can reduce their cost of living, maybe dramatically, by moving abroad. In Ecuador, perhaps the world’s most affordable overseas retirement haven, a couple could live comfortably on as little as $800 per month.

[See Filling Up 8 Extra Hours in Retirement.]

Lower taxes. Retirees can live tax free in some places. Depending on the sources of your income, in some countries, including Panama and Belize, you can organize your financial affairs so that you pay no tax. This can be more straightforward to accomplish than you might imagine. And, yes, it’s completely legal.

Less crime. Some low cost retirement locales have very low crime rates. You can live safer in a place like Uruguay where violent crime is all but unheard of.

[See 3 Retirement Worst Case Scenarios To Avoid.]

A slower pace. Many people live healthier, with less stress abroad. In Argentine wine country or southwestern France, for example, the surroundings are pleasing, the neighbors are friendly, and the way of life is sweet and simple.

Kathleen Peddicord is the founder of the Live and Invest Overseas publishing group. With more than 25 years experience covering this beat, Kathleen reports daily on current opportunities for living, retiring, and investing overseas in her free e-letter. Her book, How To Retire Overseas—Everything You Need To Know To Live Well Abroad For Less, was recently released by Penguin Books.