What is the next step?

passportAre you thinking of retiring abroad? Become an ex-pat? What are the issues?
Is the cost of living in the US too much for your retirement income? Do you want a comfortable lifestyle at an affordable price? Always wanted to try a different culture?
Choosing to live in another country has many areas to think about. First of all, what country and why? Beach?  Inland?  Cost of living is most likely the first concern. How about the language? What is the health care like and what are the costs and quality? How easy is it to get back to the US if you need to? Should you rent or buy? Mountains or sea shore? Live in an ex-pat community or with the locals? What is the infrastructure of the community? What are retirement bikethe tax implications for the US and your adopted country? Where will you keep the bulk of your funds? Who will take care of US issues for you? Do you renounce your US citizenship or apply for dual citizenship or residency? Is this a permanent home or a few months out of the year?
We subscribe to a publication called “International Living.” It is full of ideas on where to find your new home and why. It is written by retirees who are living in the location and gives a fairly good idea of the local scene.
retirement globeLast month I wrote about starting your dream business. Is this a place where you can combine your dream business and dream location?
I have always thought I would live outside the US for the bulk of the year and try different cultures each year. Now my thoughts have changed and I want to be close to the children and grandchildren and they are all right here. As we travel the world, we are looking for a place better than our home in Colorado. So far we have found places where we would like to spend more time, but we are not ready to move.
What are your thoughts as retirement comes your way? Ready for a change or stay where you are? Retirement brings options and a chance to try something new. What will you choose?

What is the next step?
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