Plenty of Britons dream of swapping grey skies for sunshine once they stop working, and Sky News says the number planning to retire overseas keeps climbing. But getting there isn’t as simple as booking a flight, especially now Brexit has changed the rules.
Aegon points out there’s often a “massive gap” between where people imagine spending their later years and where they actually end up settling. Lower living costs and warmer weather might sound appealing, but visa requirements, healthcare access and tax rules can throw a spanner in the works.
Anyone considering the move needs to think beyond the postcard image. Pension arrangements, currency fluctuations and property laws vary hugely from country to country. What works for a friend who moved to Spain might be a nightmare in Portugal or France.
The takeaway? A sunny retirement abroad can absolutely happen, but it takes proper planning rather than just chasing better weather and cheaper bills.
My Take…
Visas, healthcare, tax, pensions, currency, property law, all different, all annoying. Your mate’s Spain success story? Meaningless in Portugal. Ask anyone who’s tried assembling IKEA furniture in a foreign language. Bottom line: sunshine retirement is real, but it demands homework, not just vibes and vitamin D.
Click on the link below for the full article:
https://theweek.com/personal-finance/what-to-consider-if-you-want-to-retire-abroad
