Retirement: Does Living Abroad Still Make Sense?

Cynthia:  We’ve had several subscribers write to us asking if living abroad still makes sense with everything going on in the world right now. I think it’s a really valid question that we should talk about.

Edd:  I agree. Even after five months of this pandemic there’s so much fear and uncertainty. A lot of times when people are trying to process those extreme emotions they tend to kind of shut down. 

C:  Yeah. When you’re not sure what to do the easiest choice is to do nothing.

E:  Exactly. I think the key words you said are “right now.” It doesn’t feel like it, but coronavirus isn’t going to last forever. And, of course, everyone’s hoping for a speedy economic recovery.

C:  But what if that doesn’t happen? There were concerns about retirement savings pre-pandemic. With the stock market fluctuations and massive unemployment I’m sure a lot of people who believed they were in good shape aren’t so sure anymore.

E:  We’ve been longtime cheerleaders for living abroad as a solution, and more than ever we still feel that way, don’t we?

C:  Absolutely. The “Big 3” we often highlight—lowering your cost of living, raising your standard of living, and preserving your nest egg—are still very much in place. 

E:  As is the opportunity to enjoy spectacular weather and have affordable, high quality healthcare. And all those factors contribute to other benefits we don’t mention as often, right?

C:  So true. For starters how about stress reduction? Who doesn’t need a large dose of that right now?

E:  Most everyone.😏 Yeah, I think after living abroad for over a decade we kind of take this muy tranquilo lifestyle for granted. 

C:  I remember the relief we felt leaving behind so much financial strain. The choice, though scary at the time, continues to be truly a blessing.

E:  And less stress equals more happiness. A number of studies have shown that expats rate themselves happier than those who have never lived abroad. 

C:  One survey that really caught my eye said that many who moved back home regretted their decision and were seriously considering moving out of the country again.

E:  I believe it. Don’t want to sound too metaphysical but we can feel a difference from the somewhat mellow energy here when we’re in the States for family visits. It’s almost palpable. 

C:  Another attribute worth pointing out that ties in with less stress and more happiness—better health, both physical and mental.

E:  Important for sure. The temperate climate most expats choose allows them to enjoy being outside all year. We haven’t owned a car in 10 years and walk almost everywhere. So many friends here have lost weight and gotten off a lot of their medications.

C:  Living in a different culture and working on your language skills is terrific mental stimulation as well. So what’s the verdict? Does it still make sense to live abroad?

E:  You know what? The peaceful daily life we are experiencing feels like the exact opposite of what’s currently going on in the States. For all the reasons we’ve discussed, I think living abroad makes more sense than ever!

Want to know more? Be sure to check out our recently published, in-depth Special Report, "10 Great Reasons to Live Abroad!"