When you retire, it can feel like you are beginning a whole new chapter in your life. No longer are you tied down by work obligations. You are free to roam the world at your will, as long as your travels fit your budget. Many people are beginning to retire abroad, as it is a great way to experience new cultures, see fantastic sights, and make your retirement dollar stretch much further. BMS Moving & Storage helps clients move abroad for all different reasons, including retirement. Here are just a few reasons people are choosing to be ex-pats after they retire.
Affordable Luxury
For some people, it is about affordability. Pension payments can often be disappointing, and it is well known that Social Security checks can barely cover rent, let alone anything for enjoyment. Countries such as Spain and Panama are seeing an increased number of retirees landing on their shores to set up home. The cost of living in these areas is much less, making it better suited for those on a limited retirement income.
Taxation Regulations
Issues such as taxation can also be a major factor. People who have saved for their retirement and paid taxes on this money want to make sure they can keep as much of it as possible. There is nothing worse than getting taxed on income when you are working and then taxed again when you pull money out. Opting for a country with different taxation regulations can help you make the most of your retirement income. If you have questions, talk to a CPA who has international experience; they can point you in the direction of the best countries to move to.
Warmer Climate
Some people move to another country in search of better weather. Living in colder climates is not that easy when you get older. The bitter cold, snow, and ice can wreak havoc on joints. Finding a place to live where there is plenty of sunshine often seems like a good solution. When there is better weather outside, you are more likely to get out and exercise, which can lead to better health as you get older.
Sense of Adventure
Just because you are older doesn’t mean you lose your sense of wonder. Retiring abroad can satisfy your desire for new and exciting things while having the financial stability to fully enjoy your time in another country. Unlike younger travelers, you aren’t limited by vacation time. So what are you waiting for? Move overseas and enjoy your retirement to its fullest!
If you would like assistance in your move abroad, don’t hesitate to call BMS Moving & Storage. Call (877) 594-1187 for your free moving estimate today!
