Retring abroad

Colombia

Anyone thinking about moving abroad, Europe South America, depending on your country of choice, liiving expenses can be much lover than the Uk especially if you don’t have a mortgage or rent to pay, the warm weather is a big plus.

Mojisola

As long as you don't mind your State Pension staying the same as when you leave the UK.

That could make a big difference to your living standard in the future.

Colombia

Yes that has to be taken into account.

shinytop

It's a nice idea and but I have too many family ties close to home. I'd also worry about getting very old somewhere else. Maybe wintering somewhere warm would work for me.

worried_jim

I have loads of friends in Bodrum Turkey that have done just this, some in their 40's.

Pennysmakepounds

worried_jim wrote: »

I have loads of friends in Bodrum Turkey that have done just this, some in their 40's.

Whao, thats good going at such a young age.


I am planning the same winters in a nicer climate and summers here.


Mind you i'll be older then 40 maybe early/mid 50. The figures just don't stack up yet and have to wait for the kids to be a little older and able to fend for themselves.

Anonymous101

I think i'd like to do a lot of travel to foreign countries for much longer breaks when I no longer have to work full time. I doubt that I'd retire there fully at least initially anyway. Much more likely downsize here but keep it as a base and just go off for a month or two at a time.

Pennysmakepounds

Anonymous101 wrote: »

I think i'd like to do a lot of travel to foreign countries for much longer breaks when I no longer have to work full time. I doubt that I'd retire there fully at least initially anyway. Much more likely downsize here but keep it as a base and just go off for a month or two at a time.

I fully agree that you need a base here but it would be nice to have one leg here and one leg in the sun

thickasabrick

It's a recurring theme with the financial independence retire early movement.

Search for "geoarbitrage FIRE" and you'll see a number of articles which can be a useful source of information.

Definitely something we are looking at.

Although our plan is to "bridge the gap" for a couple of years whilst we travel, keeping the house in the UK.

Have set aside the cost of running the UK house independently for the first two years whilst we're traveling so we don't need to rely on renting it out or selling it.

I'm sure we'll be able to make a more informed decision after that time to either sell up and move to somewhere cheaper or to keep the house in the UK and travel to somewhere cheaper and warmer over the winter months.

Countdown to early retirement is running at 3 years 1 month and 21 days so we've still got plenty of time to refine our plans.

Colombia wrote: »

Anyone thinking about moving abroad, Europe South America, depending on your country of choice, liiving expenses can be much lover than the Uk especially if you don’t have a mortgage or rent to pay, the warm weather is a big plus.

jim8888

Jeremy Clarkson once wrote a great opinion piece about how the only people who move abroad are ones who feel they haven't been successful here. No friends, no family ties, not enough money, bitter, unsettled and restless, off they go in search of a "better" country to live in.
I lived abroad for a year in the sunshine once. Amazing how quickly you take it for granted and find yourself wishing for a rainy night, a cosy pub and good company back home.

bostonerimus

Mojisola wrote: »

As long as you don't mind your State Pension staying the same as when you leave the UK.

That could make a big difference to your living standard in the future.

There are many countries that you could go to and still get indexing on your UK SP.