The Best Places To Retire

– Here’s 21 Things You Need To Consider Before You Decide

If you’re considering moving to retire, it’s one of the single biggest decisions you’re likely to make.

Making the wrong choice could be a costly step, one that could set you back financially, and which could be a hard problem to resolve.

 

Retire from work, but not from life. ~M.K. Soni

Here’s 21 things you need to consider when looking at the choices before you:-

1. Access to jobs – surprisingly, you may still want to consider a part-time job or a second (or third or fourth) career.  Working is a good way to meet people in the local area and can help to maintain your sanity in a new environment.
2. Beauty – if you’re a nature lover, you’ll already be considering the type of area you’d like to live in.  Are you a mountain lover, or do you prefer the open countryside?  Do you love snow in the winter or do you love to walk on the beach, whatever the weather?  Finding somewhere that touches your spirit can help to stop those feelings of homesickness that sometimes arise in new places.
3. Climate/weather – for many people, this is one of the reasons that they move.  Indeed, it’s one of the reasons that places like Florida and Mexico are so popular.
4. Community – being part of a community is something that we take for granted, yet can be the one thing that is missing from a beautiful foreign country.  Spend time finding out whether there’s a large expat or English speaking community in the places you’re considering retiring.  If the locals take a while to welcome you in, you’ll have a few friends to show you the ropes and explain the local customs.
5. Cost of living – this can vary substantially even between States in the USA.  Often it depends on taxes, but when considering retiring overseas, it takes into account the lower cost of living and also the exchange rates between countries.  Be aware the exchange rates can go up or down and affect your income negatively or positively.  For example, in January 2006 an income of $2000/month was worth 1680 euros, in March 2007 it was worth only 1520 euros, an effective drop of 10% in your income.
6. Crime – in some countries or areas, the disparity between the haves and the have-nots can exacerbate crime.  Inner city areas tend to have higher crime than small country towns.  If you’re concerned for your safety, check up on the local crime statistics.  In some popular retirement havens, it’s recommended that you don’t drive out on your own late at night, so check this out by talking to the locals before arriving.
7. Culture – do you like the arts, theatre, sports or entertainment?  If so, being close to an appropriate venue such as a theatre or stadium may be an important consideration.
8. Economy – how stable is the economy?  How high is unemployment ?  Whilst this may not directly affect you, if you’re living somewhere it will influence the atmosphere and environment that you are living in.
9. Exchange rate stability – as already mentioned – if your budget is tight, beware of currency fluctuations. 
10. Food & customs – be aware of what the local food is like.  If you really don’t like it, consider another retirement location.  For example, if you don’t like curry, considering India wouldn’t be an option, you can only live on chips for so long!
11. Health Care – this is a priority for many as they retire.  The cost and availability of good quality health care and hospitals is important when choosing the place that you wish to live and retire in.  College towns are becoming more popular, simply because they often have an excellent teaching hospitals but also because they offer cultural and environmental benefits.
12. Holidays and celebrations – if you love joining in with local celebrations, find out more about them.  You may find that celebrating Cinco de Mayo is just as good as your normal Christmas traditions, alternatively, you may wish to seek out an expatriate community with which to celebrate holidays like 4^th July and Thanksgiving.
13. Infrastructure – access to phones, transports, road  - when you’re living in a different country it’s important to be able to get around and communicate with loved ones easily and for a reasonable cost.  In some popular retirement communities these facilities are all to hand, but in some of the newer and cheaper retirement hideaways, this is the cost for living in a beautiful and unspoilt environment.
14. Language – if you already speak the language, you’re ahead already.  If you’ve got to learn, this is also a consideration.  The overwhelming evidence is that speaking the local language is the key to being accepted and involved by the local community.
15. Leisure – golf, swimming,hiking, tennis, bowling, cycling, sailing, fishing, reading, photography.  Although you may be considering taking up new hobbies or leisure activities, you’ll also want to ensure that you can continue with those which you’re already actively involved in or that you’re planning to enjoy more.  Check out the local swimming pool or hiking trails if that’s what appeals to you or the local bookstore or library to check that they’ve got a wide range of reading materials
16. Political climate/government stability – in some of the newer locations such as Honduras and Nicaragua these may be considerations, whereas established venues like Florida are unlikely to be affected.
17. Property prices and styles – another big consideration, there is massive fluctuation between property prices across the States.  When you look internationally, property prices can seem incredibly cheap, even when you’re looking at a beachside condo with it’s own land.   This has been highlighted by many of the popular television programs today, and there are many useful books and information available, both on and offline, to help you gather information on availability and prices of your chosen style of property.
18. Public transport – if you’re living in a town or city good access and availability of public transport will help save on travel costs and is worth considering should your own mobility prevent you driving for any reason.
19. Religion – if you’re actively involved in a faith – check out the local churches or groups to see what’s available.  You can probably do the initial research online, but a visit in person will help to clarify if there might be a spiritual home for you there.
20. Tax benefits – this is a BIG consideration.  For example, in Nicaragua as a foreign retiree, you would pay no taxes on out-of-country earnings and any income originating from within Nicaragua is taxed at a flat 15%.
21. Travel, proximity to airports & ease of visits from friends and family – if you’re hoping for friends and family to visit you won’t want to be driving several hours each way every time they come to stay.  If you choose to live in an isolated country spot, you’ll have to weigh up the benefits of the beauty and isolation against the distance to the local airport.