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Top Tips for Retiring Abroad

Categories: Finance,Sponsored

This article was provided by TorFX, an award-winning currency transfer provider.

Whether you’re thinking about retiring abroad or have already taken the plunge, we’ve got some top tips to help you make the most of your time overseas…

Save Money by Using a Currency Broker

Retiring abroad may mean you need to move money from your home country to your adopted one in order to purchase property, cover living costs or transfer your pension overseas. While you could use your bank to make these currency transfers, you could achieve a better exchange rate and avoid transfer fees if you use a specialist currency broker like TorFX. With a dedicated broker you’ll get specialist support and insight, access to a range of transfer options and excellent exchange rates – saving you time and money.

Moving overseas is a decision that shouldn’t be taken lightly, and living in a foreign country is very different to going there on holiday. While you might have liked an area after visiting it for a week during the tourist season, the atmosphere could be completely different out of season, and the amenities might not be what you expect.

Renting a property on a short term basis is a good way to experience a country/area and decide whether you really want to make it your home.

 

Embrace the Changes

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A move abroad means getting to grips with a new culture. Things might not be done as you’d expect and attitudes may be different, so you can’t expect to feel at home straight away.

Learn about and respect the cultural differences you come across, and be patient. In time you will adapt and the more you throw yourself into things the more quickly you’ll feel like you belong.

The Language Barrier

One of the hardest barriers to cross is likely to be the language barrier. Not knowing the native language of the country is going to create some difficulties when you move, so even learning a few basic words and phrases before you go could make a big difference.

Making the effort to converse with locals in the native tongue will be appreciated, and the more you try to converse in the language the quicker you’ll pick it up.

Healthcare

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For a lot of people one of the main concerns when thinking about moving abroad is healthcare, and the differences in how the healthcare system will operate in the country you’re moving to.

Make sure you do your research before you go and find out whether healthcare is privately funded, subsidised, or free and whether you will need health insurance.

When it comes to retiring overseas, research and planning is crucial. Where necessary, seek expert support and advice, and draw off the experience of existing expats wherever possible!

This article was provided by TorFX, an award-winning currency transfer provider. TorFX has helped over 55,000 people save time and money on their currency transfers since 2004 by offering excellent exchange rates, no fees and expert support.