How to retire in a foreign country?

[Nomad]

If you want to retire abroad, you need to choose a place where there is a low cost of living. For example, if you are form Europe or North America, Vietnam or Bali can be a good place to retire as you can love a modest life with a $2k monthly budget. Retiring in foreign country requires you to develop specific plans, understand financial minimalism (living at the lowest cost) and leverage the power of compounding (growing income and wealth over time).

 

[jeff87]

If you want to retire abroad, you need to choose a place where there is a low cost of living. For example, if you are form Europe or North America, Vietnam or Bali can be a good place to retire as you can love a modest life with a $2k monthly budget. Retiring in foreign country requires you to develop specific plans, understand financial minimalism (living at the lowest cost) and leverage the power of compounding (growing income and wealth over time).

I believe that to retire in a foreign country, you need to consider a lot of things especially in the financial aspect. If you have a lot of money it will just be easier to do it. But as for me, I will not retire in a foreign country not because I don't have the budget but because I have my family and friends in my beloved country. I want to be with them before I leave this wonderful planet, Earth. I value the relationships that I have with my family and friends.

 

[Timgab]

When one decides to retire abroad, he or she should make several research of a chosen destination thoroughly to understand visa requirements, healthcare options, and cultural factors.

For me, all need is to ensure that my retirement savings align with my desired lifestyle. If the said abroad aligns with it, so be it, on contrary. . . home sweet home.

 

[Riberet19]

Well, I don't know much about this subject, but I suppose that one of the best ways to do it is to do it well and ask people who have done it if you know, I know many Europeans from countries that charge more than mine, who from an early age start to invest in other European countries with lower incomes, For example, many Norwegians buy houses in my country because with their salary it is very easy to afford a house here in the long term, then when they retire they come to spend their last years of life here.

 

[Jason76]

There's a dark side to richer people coming in. It drives up land prices and that can hurt locals. For instance, my home in America, the southern Appalachian Mountains, is the new retirement destination for those not wanting Florida, and it has caused many problems with people whose ancestors had lived here for generations.

 

[Riberet19]

There's a dark side to richer people coming in. It drives up land prices and that can hurt locals. For instance, my home in America, the southern Appalachian Mountains, is the new retirement destination for those not wanting Florida, and it has caused many problems with people whose ancestors had lived here for generations.

Yes, that's true, it's a problem, as it makes it impossible for the locals to afford their own land, but that's really capitalism, whoever has the money imposes the rules of the market.

 

[deucher]

These are good places for retirement, but 2 thousand is a lot even for a European. I think that this method is more suitable for those who have much more money than others, then they will be able to afford it. But the best method is still to stay in your country, but to travel much more for a longer period