Ever Thought About Retiring Abroad?

Have you ever dreamed of retiring to a place where the days are warm and sunny, beaches are nearby, the cost of living is much less and the pace of live is slow and easy. There may be a way.

Canada is experiencing a dramatic  increase in the number of people reaching retirement. The first of the postwar baby boomers are now over 60. Over the next decade, an unprecedented number of Canadians will reach the normal retirement age of 65. Many are already opting for early retirement.

Most retirees choose to spend the rest of their lives in Canada, often moving out of large urban areas to
smaller regional centres; others opt for semi-retirement, staying active in their profession or trade on a part time basis. However, a significant number decide to live in another country, either permanently or for part of each year.

Family or cultural ties are sometimes incentives to retirement abroad. Since Canadians come from all parts of the world, there are few nations that are not potential destinations for retirement.

Some of the countries that are Canada’s major sources of immigrants are also major retirement destinations. Lebanon, the United Kingdom, France and Germany are examples.

Those who retire abroad for other than family or cultural reasons tend to be clustered in countries that offer a combination of low after-tax living costs and a warm climate. In some cases, an existing Canadian expatriate community helps to mitigate the cultural isolation that can otherwise make life difficult. Countries in this category include Mexico, Costa Rica and some Caribbean island nations.

Reasons for Retiring Abroad
Retiring abroad holds many potential pitfalls for those who choose a destination on the basis of a dream rather than sound planning. In general, those who consider only the financial benefits of moving overseas are more likely to experience disappointment than those who retire abroad for lifestyle or cultural reasons. Whatever your motives, careful research is essential, and the Internet makes it more practical than ever to carry out a detailed evaluation before you leave.

If you're considering a move for retirement and you'd like a FREE guide, just comment below with your email address and I'd be pleased to send it along. Your email will not be shared with anyone because I hate spam as much as the next person. This is a legitimate report produced by Foreign Affairs and International Trade in Canada.