Most people who are nearing retirement age are looking forward to a more fulfilling life instead of slowing down. Many of them believe that retirement is their moment to enjoy what life has to offer.
See the world and start anew in a completely different country — this is a dominant trend among retirees these days.
If you are thinking of jumping on this bandwagon, meaning you are planning to explore the world out there to see even more potential to life, plan it out thoroughly.
If you wish to retire in a foreign country, pay attention to the following factors:
You want an environment where you can easily thrive.
If you have bad joints and you want to significantly reduce your suffering from joint pain so you can pursue your interests, a country where the climate is dry or sunny for the greater part of the year is ideal.
Or, if you have severe allergies and where you currently live triggers them every so often, search for a place that is clean and devoid of the allergens you struggle with.
2. Medical resources for seniors
There are countries that offer free premium medical benefits for senior citizens – keep an eye out for them.
If you want to be completely smart about meeting your medical needs, uprooting yourself from where you live and applying for a citizenship in those countries is a retirement option to seriously consider.
You may not even need to renounce your current citizenship because there are countries with second citizenship programs such as those in the Caribbean. In this region, it is especially important to research the medical facilities before moving. Generally, the larger islands with bigger populations and lots of international direct flights have more advanced medical care.
As naturally lovely as some places are, they are not always ideal for retirement.
Living in a country that does not give priority to making their public services accessible to senior citizens, pregnant women, and people with disabilities is bound to be full of stress.
One country that is quite senior-friendly is Japan.
Not only are most infrastructure designed with “physically challenged” people in mind, Japan also trains service workers to provide adequate assistance. Bus drivers, for example, get off their bus to help wheelchair-bound passengers board even if the bus has an automatic ramp to make boarding a breeze.
As a nation whose population is mostly made up of people beyond their golden years, Japan is constantly coming up with new ways to serve the elderly and make their life as convenient as possible.
4. Investment opportunities
A lot of retirees do not deem it too late to invest. Not only do they see this as a security strategy for themselves, they also invest with the future of their loved ones in mind.
Do you have the same mindset?
If you do and you are traveling the world to see where you could retire for the sunset years of your life, think about the investment opportunities different countries can offer you.
There definitely are some countries where investing for retirees is much easier. For instance, in the Caribbean, retirees can also obtain a citizenship by investment. The citizenship, as well as the investments, can be passed on directly to family members*.
Investments are a must for everybody – this is what financial gurus always say.
Even if you’re retired, you should keep an eye out for ways to keep the money rolling in – especially if you are healthy. You may live longer than you expected and for certain, you will need extra money to continue living the life you really want.
For this, get advice from specialist and experienced consultants in the countries you are considering so you can learn about the investment opportunities they have for you as a retiree from abroad.
*Professional tax advice must always be sought in the home country.
5. Facilities for seniors
If you see yourself requiring assistance with daily living as you advance in age, it always helps to know if the country you are considering retiring to has facilities designed for your special needs when the time comes.
For instance, in the US, Florida has a large concentration of senior homes where the elderly have all the help they need for convenient and fun living.
They have facilities that cover everything aside from daily living assistance – from transportation needs to shopping for groceries, and even amusement (small casinos and clubs).
If you intend to travel the world in search of the perfect country to spend your retirement years, take these five factors into consideration.
Do as much research as possible, speak to people who have done it already and it will be so much easier to determine how you, as a retiree, can start afresh and happily live in a different country.
Kaline Kennard is the co-founder of Citizens International, a white-glove specialist firm offering private client services necessary for citizenship investment into the Caribbean. Based in the Caribbean for the past 15 years, she is an experienced consultant who works directly with many professional partners and advises clients worldwide.