Having worked abroad as an expatriate for a considerable part of their lives, many people nearing the age of retirement normally consider the option of retiring abroad as much more attractive than retiring at home. Even new expats who have not been working aboard for as long often marvel at the beauty of their new countries and consider the option of retiring there as being very viable. Either way, whether you intend to retire abroad or at home, if you are going to have an enjoyable and happy retirement, then it is important to begin planning early. For the former category of expats who wish to take their retirement abroad, the importance of seeking as much expatriate retirement abroad information as you can possibly find, cannot be stressed too much.
When planning to retire abroad as an expatriate, the following are some of the most important expatriate retirement abroad information that you will need to be know:
- Information on retirement accommodation
The first and most important factor that needs to be taken care of is the place of stay or of residence during your retirement. The best option, for those who can afford it, is to buy property in the country in which you wish to retire. The best property must be one that can comfortably accommodate both you and your family, if you have one. In choosing the best retirement property to purchase, factors such as the price and condition of the house, its location and the surrounding environment must be taken into consideration. It is probably best to start shopping for property before the actual time of retirement and, if possible, to begin paying for the same before you retire.
- Communication
Even though you will be living abroad during most of your retirement period, you must take note of the fact that you will need to have a clear channel through which you will be able to communicate with loved ones back at home at affordable rates. The fact that you are retiring abroad does not mean that you have to sever all ties with the people back in your home country. The best way to establish a clear channel of communication is by signing up with an effective and affordable international call carrier in advance. Ping.com is a good example of such an international call carrier and is one of the best for expats who wish to retire abroad.
- Tax obligations
Another important item of expatriate retirement abroad information that you need to be armed with is information about the tax obligations that you are going to have while living abroad. In most cases, you will be required to pay taxes both to the country in which you live as well as taxes back to your home country. At this point, you may also try to find out ways through which you can limit these obligations as much as possible. Options such as setting up offshore accounts to reduce taxes charged should be considered seriously.
The above expatriate retirement abroad information is by no means inclusive and there are many more factors that you will need to look into if you are to have a successful retirement. The ones here are, however, the most important of the lot.
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