Anyone looked into retiring abroad? I'm thinking about it.

[OCGuy81]

I'm still about 20 years out from possibly retiring, but my wife and I have discussed retiring abroad, and Panama is the front runner.

A recent article I read in Forbes mentioned how two retired Americans can easily get by there for under $2k/month, taking into account rent, groceries, entertainment, and utilities.

It's also got a quality healthcare system, with doctor visits running roughly $20-$60.

Government stability can be a concern in Central America, but Panama has been relatively stable.

Just curious if anybody has, or even thought about, spending their golden years outside the US.

[JayhawkCO]

Briefly. A couple of places I've looked at are Portugal, Montenegro, and Argentina. The first two make it relatively easy for EU citizenship which would be nice. The latter has some areas that fit our lifestyle really well. We have a kid now, so that throws a different calculus into the equation, but we certainly don't ever rule out moving abroad. My job is remote, so I can work from anywhere.

[OCGuy81]

Briefly. A couple of places I've looked at are Portugal, Montenegro, and Argentina. The first two make it relatively easy for EU citizenship which would be nice. The latter has some areas that fit our lifestyle really well. We have a kid now, so that throws a different calculus into the equation, but we certainly don't ever rule out moving abroad. My job is remote, so I can work from anywhere.

Portugal I think was ranked the highest on the article I read. Sounded like there's a lot of upside to living there as well.

[jeffandnicole]

So much can happen in 20 years. I'm 10 years away from retiring, and not even giving much thought to it yet. I'm just hoping to be alive by then.

[OCGuy81]

So much can happen in 20 years. I'm 10 years away from retiring, and not even giving much thought to it yet. I'm just hoping to be alive by then.

Very true, but it is just a discussion we've had once we can retire, and the kids are (hopefully) out of college and thriving.

Plus, markets dictating how well our 401k plans do.  IF I get social security, and that's a big IF, I'm just treating that as a bonus. :-)

[SP Cook]

I have thought about it.  There is lots of information on YouTube and on the internet.  I have traveled in Central America quite a bit. 

Panama is, by far, the most developed country, and, due to its history, has major English skills very common.  It uses the US $.  It is pretty stable, and its airport is a world hub, you can fly from there to anywhere.  The canal pretty much pays for everything the government wants to do, so there is not the import duties that most third world countries have.  It is less expensive than the USA, but not really that much less. 

Pre-C**** I spent multiple weeks per year in Nicaragua.  I met a Canadian gentleman who was traveling the world checking out retirement places, and we had a long talk.  Nice guy.  Nicaragua has almost no tourist infrastructure, English skills are VERY rare, but it is cheap cheap cheap.  The government at the top is a kleptocracy, and at the local level, every cop or anybody else with authority is corrupt ($20 will get you out of "speeding", $40 will get you whatever permit you need).  But as long as you are bringing money in the country, they leave you alone.  The internet is better than most poor places in the USA as is the cell service.  Energy is really expensive. 

I have not been to Costa Rica, but I hear it is a mix between those two extremes.

[gonealookin]

I'm retired now and could go anywhere.  The main hurdle for me in a place like Panama, or Ecuador which is also high on these lists, would be the language barrier.  I took my three years of high school Spanish but it was "classroom Spanish".  Any time I was outside the classroom and happened to be sitting next to someone speaking Spanish as their native language I could barely understand a word.  So that would require an immersive education before I could consider it.

Along with low cost of living and choosing a nice climate, the other attraction would be getting away from the acrimonious political atmosphere in the United States, which seems to be getting worse every week, month and year.

So, yeah, if I start leaning this way in the next few years I might put in the language work.

[OCGuy81]

I'm retired now and could go anywhere.  The main hurdle for me in a place like Panama, or Ecuador which is also high on these lists, would be the language barrier.  I took my three years of high school Spanish but it was "classroom Spanish".  Any time I was outside the classroom and happened to be sitting next to someone speaking Spanish as their native language I could barely understand a word.  So that would require an immersive education before I could consider it.

Along with low cost of living and choosing a nice climate, the other attraction would be getting away from the acrimonious political atmosphere in the United States, which seems to be getting worse every week, month and year.

So, yeah, if I start leaning this way in the next few years I might put in the language work.

Spanish in high school, college, and decades of living in Southern California have helped her and I speak the language pretty well.

Right now, I use a free app called Duolingo.  It's something where I can do 5-10 minute lessons a day, and stay sharp.  If you're looking to really expand your skill in a language, you can devote more time to it.  Pretty user friendly interface, and a good mix of writing, listening, and filling in the blanks.

[Bruce]

A comfortable retirement anywhere seems like a more unattainable goal by the day. I pray that we have something leftover for this generation by the time we're at whatever the retirement age is raised to by the 2060s.

I've heard that countries like Portugal are clamping down on entry for foreign retirees (both of the conventional age and earlier) due to their adverse effect on the local economy and housing market. It would not surprise me to see more countries banning foreign ownership of homes unless you can bribe your way up enough.

[Max Rockatansky]

My wife stands to be in line for inheritance of family property down in Mexico.  We both like it down there but I believe it would require some residency requirements.  I wouldn't be opposed to the idea after retirement given I like the more laid back and simple lifestyle.  Our money certainly goes way further than it does domestically.  My wife is fluent in Spanish, I'm functional and keep improving as the years go on.

[NWI_Irish96]

Never really thought about it. If I did, though, I'd have some requirements:

1) Not tropical. I don't do well with high heat/humidity

2) English must be widely spoken. Not fluent in any other languages and probably not learning any at this point

[ZLoth]

I moved from California to North Dallas with the intention of retiring here in about ten to fifteen years. The thought of retiring abroad is an option as I am perpetually single with no kids, but not something I considered seriously. Of course, I'm saving up like crazy so that when I retire, I work on my own terms.

[frankenroad]

I have been looking into it.  I plan to retire in 2 years.

Right now, Spain is my front runner.  I know Portugal gets ranked higher, but I speak Spanish (it was my minor in college 45+ years ago), but not Portuguese.
I prefer Europe because most of the travel I want to do in retirement is in Europe.  Being able to hop on a train and go to another country sounds really good.  And, I figure I'll save enough in expenses that I can afford to come back to the States to see my grandkids at least once a year.

[Rothman]

A comfortable retirement anywhere seems like a more unattainable goal by the day. I pray that we have something leftover for this generation by the time we're at whatever the retirement age is raised to by the 2060s.

I've heard that countries like Portugal are clamping down on entry for foreign retirees (both of the conventional age and earlier) due to their adverse effect on the local economy and housing market. It would not surprise me to see more countries banning foreign ownership of homes unless you can bribe your way up enough.

Yep, I've heard the same regarding Portugal.  If anything, the TikToks about people complaining about housing prices being driven up by foreigners in Portugal have increased considerably.

[Rothman]

My wife and I intend to travel a lot in retirement if our health allows, but we don't see ourselves staying put in one country abroad.

[Henry]

I might think about it, but that's not a top priority for me right now. Europe sounds nice, though.

[zzcarp]

My dad has been retired and lives about 8-9 months a year in Thailand. Once you're there it's cheap cost of living and lots of expats and good food. I guess the weather is nice if you like 90s and humid (not my style). But he's lived there the majority of the year since 2004 but has to come back to the states every so often for his insurance and visa purposes.

[Rothman]

My dad has been retired and lives about 8-9 months a year in Thailand. Once you're there it's cheap cost of living and lots of expats and good food.

And...

[JoePCool14]

I am of course far from thinking about retirement, but I wouldn't have any interest. I wouldn't want to have to travel to another country just to see my kids or the rest of my family, nor the places I lived and worked in during my younger years. I wouldn't want to reset my life that hard.

[JayhawkCO]

I am of course far from thinking about retirement, but I wouldn't have any interest. I wouldn't want to have to travel to another country just to see my kids or the rest of my family, nor the places I lived and worked in during my younger years. I wouldn't want to reset my life that hard.

I've lived a 3+ hour flight away from my parents for most of my life (since age 17), so an 8-9 hour flight doesn't seem that unreasonable. Much less something in Central America where it's the same distance, just another country.

[JoePCool14]

I am of course far from thinking about retirement, but I wouldn't have any interest. I wouldn't want to have to travel to another country just to see my kids or the rest of my family, nor the places I lived and worked in during my younger years. I wouldn't want to reset my life that hard.

I've lived a 3+ hour flight away from my parents for most of my life (since age 17), so an 8-9 hour flight doesn't seem that unreasonable. Much less something in Central America where it's the same distance, just another country.

It's not the length of the flight that would be my problem, it would be different country. Think back to the virus restrictions for example. Internationally, things can change quickly sometimes.

I still would personally prefer being within a day's drive of most people I care about seeing.

[JayhawkCO]

I am of course far from thinking about retirement, but I wouldn't have any interest. I wouldn't want to have to travel to another country just to see my kids or the rest of my family, nor the places I lived and worked in during my younger years. I wouldn't want to reset my life that hard.

I've lived a 3+ hour flight away from my parents for most of my life (since age 17), so an 8-9 hour flight doesn't seem that unreasonable. Much less something in Central America where it's the same distance, just another country.

It's not the length of the flight that would be my problem, it would be different country. Think back to the virus restrictions for example. Internationally, things can change quickly sometimes.

I still would personally prefer being within a day's drive of most people I care about seeing.

Let's hope the virus restrictions were a once in 3-generation kind of thing. For me, and obviously others feel differently, if my family isn't right in town, so a 20-minute drive or whatever, a day's drive is just a good as a day's flight.

[Rothman]

Hm.  I grew up with my grandparents being either up to a 20-hour drive from our home (mother's parents) or a three-day drive out to the West (father's parents).  We'd go down to my maternal parents' in KY almost every year and then out to my other grandparents much less frequently (they came out a few times themselves).

For the most part, flying the five of us out anywhere all at once was prohibitively expensive.

All my grandparents have passed away.  My parents sometimes express regret about living so far away from their parents and the limited visitation.  This is especially because my father had a close-knit extended family in the Mid-Atlantic that he grew up with and he missed that dynamic.

My brother and sister now live near each other in Washington state and we've wondered at times if we should all move out there.  My career, though, has cemented my feet where I am, for better or for worse.

But, I've found myself in a similar situation as the one I grew up in:  I'm driving to my parents' place this weekend, but my in-laws are out West (my wife is one of a few odd members of her family that live out here in the East; the remaining huge family all live relatively close to each other). We're trying to see them every Memorial Day Weekend now.

[Ted$8roadFan]

I can definitely see myself retiring outside of Massachusetts and the Northeast for a variety of reasons. But I'm not sure I would move abroad. For each potential benefit (better weather, lower costs, etc.) there is a drawback (crossing international borders, flying, instability, etc.).

[Roadgeekteen]

By the time I grow old the retirement age will be 90 and social security payments will be 1 cent per month. If the planet is even still liveable by then.