Retire in Paradise

Anyone who has traveled has at one time had that thought pop into their head, “I could live here”.

Whether it is that quaint little town in England with the great pub, the  Italian country side, the nightlife of Spain or the tropical beaches, at one time or another everyone has envisioned living the laid back lifestyle in that far away place they spent a week or two at.

Then reality slowly creeps in and  you begin to realize things like your job, your home, your friends and family and you forget the dream. A few however have made the jump and never looked back. But to do it and do it properly you need to realize what it entails. There are articles everywhere shouting “Retire on $500.00 a month and live like a King!”.

Most of those are only making the guy writing the article live like a King. There is however a lot of very good information out there if you take the time to do a little research. One such site is Expat in The Philippines , a Dutch expat that has made the move to the Philippines and shares his experiences along with insightful tips and news. There is also a section on how to make the move that covers Visa requirements, property rental and ownership and other things to consider before making the jump.

When considering a move like this there are several things to look at. First, is the place your planning on moving to politically stable? If they have a military coup every 3-4 years it might not be the paradise you think it is. Then there are the other things to consider. What are the visa requirements?

Some like the Philippines allow you to apply for a retirement visa which allows you to stay in the country. If you plan on working you need to look at how the country regulates foreigners working, some allow it and some don’t.

Some require a company to sponsor you. Are you allowed to open a business?

Then there are things like property ownership. Are you relegated to renting or can you purchase property? What about medical? What type of insurance are you going to need and what if something serious happens? Are the medical facilities sufficient to take care of things or are you going to have to go back to the US or an adjacent country for medical care?

Then there is banking, if you do get a monthly retirement check are you going to need a US bank and transfer money. Are you going to need a post office box in the US with mail forwarding service? Does that tropical paradise or out of the way European hillside have things like Internet connectivity to stay in touch with the world?

It sounds daunting but with a lot of research and planning you might be able to make that move like others have and then you will be the person at the quaint restaurant that all the tourists envy.