#553 - Retire Without Borders: An Expat Primer

Have you ever thought about retiring abroad? It seems like a fun adventure, but how do you begin?

On this episode of Retirement Answer Man, expat expert, Jane Mepham from Elgon Financial Advisors, joins me to discuss the financial and nonfinancial considerations of moving abroad in retirement. Press play to learn whether retiring abroad would be right for you.

What do you need to think about when considering retiring abroad?

People choose to move to another country for a variety of reasons: to seek a better life, to satiate a sense of adventure, to immerse themselves in a new culture, to enjoy a new climate, or many others.

Going abroad can broaden your life experience and expand your worldview, but it’s not the right choice for everyone.

Before making such a big decision it’s important to do your research. Jane suggests exploring the area you’re thinking about for a long period–a month or more. Listen to what else you should consider when you consider retiring in another country.

OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN

RETIRING AS AN EXPAT

[3:46] What is the attraction of retiring to another country?
[6:18] How to explore whether retiring abroad is right for you
[12:01] Should you buy or rent?
[14:54] How do you navigate your finances?
[22:04] What other considerations should you think about?

LISTENER QUESTIONS

[37:09] Is it worth selling investments and incurring significant taxes to change firms to reduce fees?
[46:03] How to plan retirement without using the 4% rule
[52:25] Where to put your contingency fund