Advice on Retiring in a Foreign Country
If you or your spouse is nearing towards retirement age, the search for finding a location to relocate to once your retirement has probably already begun.
Additionally, it has become a popular trend for those aged 55 or older in the US to have an “early retirement,” so this search might start sooner than expected.
It is projected that by 2014, US individuals who retire between the age of 55 and 59 will be around 72 percent according to US Census Bureau Labor Statistics.
If you are searching for where to retire, you might find the information found in the HSBC Expat Explorer Survey to be helpful. This survey polls expats around the world in regards to three main categories: economics, experience and raising children abroad. When looking at a few of the top locations for expats to live based upon economics and experience, these locations were amongst the top three:
Top 3 countries to Retire Abroad:
Singapore: Those trying to decide where to retire and are looking for a high quality of living will be interested in Singapore. This country was ranked first overall and for income when looking at economics related to relocating to Singapore. It also ranked second when it comes to disposable income and being able to have more luxurious holidays.
Thailand: Thailand was ranked third overall when it comes to economics, and second overall when looking at experience. A few categories that Thailand was ranked first in include: having more than one property, being able to have domestic help/staff, healthcare, and social life. If you are looking for a good balance between economics and experience, you will want to explore further the possibility of relocating to Thailand.
Cayman Islands: The Cayman Islands rank high almost all the way across the board when it comes to the experience of expats. It is ranked first overall and in the following categories: organizing finances and healthcare, finding accommodation, learning the local language, making friends, local work culture, integrating into the community, feeling welcome at work, sports, working life and commuting. It is also ranked first within the economic section for having more luxurious holidays and fifth overall in economics.
If you would like information on finding international insurance once you decide on where to retire abroad, Find International Health Plans today.