Editor’s Note: This story originally appeared on Live and Invest Overseas.
I retired at age 49, on an average income. In fact, I had less income and less savings than most of my co-workers who stayed on the job, working years into the future.
The way I made it work was by retiring overseas.
My wife and I would have had to work about 12 additional years if we’d remained in the United States. I wasn’t motivated by any dissatisfaction with life in the States. In fact, we had good jobs that we both enjoyed. But at that point in our lives, we were ready for a new adventure and willing to take a few risks to enjoy an entirely different and unknown way of life.
And the strategy worked. It paid off.
To be honest, the thought of buying a one-way ticket out of the country was intimidating and somewhat scary … as was leaving our secure jobs behind.
But today, after 25 years of retirement — and after living, investing, and owning a home in six countries — it’s obvious that the decision to retire overseas was among the best of our lives.
Here are some of the benefits our life abroad has brought us.
1. Quality of life
We’ve experienced a better quality of life, having left the 9-to-5 rat race behind. Most of life’s stresses just fell away.
2. Awesome climate
We found what feels like the perfect weather with no snow or ice. Living in a home that requires no heat or air conditioning feels healthy and natural.
3. Luxury living
I spent most of my life earning an average income. But by moving abroad, I was able to do so much more with our savings.
For example, I could never consider owning a second home in the States. Yet by living in low-cost countries, with low costs of ownership, we enjoyed not only a second home, but at times, a third.
4. Reinvention
I got a D in high school English … yet have spent years now working as a writer. And after flunking high-school French, I ended up learning two languages after the age of 50 (although French was not one of them).
Retiring overseas will allow you to redefine who you are, and what you can accomplish.
5. Paying less taxes
By being an overseas resident, I was able to take advantage of a host of legal tax-saving measures.
6. Real estate investing
We never had the available funds to invest in real estate until we moved abroad. In a country with reasonable property prices, you can start slowly and work your way into this profitable world.
Over the years, I’ve met dozens of people who have started their own business, often bringing skills from their past to their new country. Your options are limitless.
