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I think the answer depends on how you plan to spend your retirement. A lot people say retirement has two phases, an active one where you try to enjoy life and check off bucket lists and a more passive phase where your health is starting to go and you need assistance with basic tasks. Those of us who plan to be social in the first phases probably wouldn't randomly relocate to a new location just to save money, unless it is absolutely necessary. I'd prefer to retire to cities that I want to enjoy, or to smaller communities where I have friends, than to some destination I've never been and am not curious about. This is true whether it's overseas or within the US.
In the second phase of retirement where I'm more or less stuck in an assisted living facility just waiting to die it wouldn't matter where I am. I'd consider relocating to a random Podunkville to save money, even overseas. This is assuming my kids don't want to visit regularly.
I know personally of 2 cases where someone retired early and went to foreign countries to live the good life.
They are both trapped. They can come back to the US and be flat broke, or stay where they are forever.
FWIW, they both are sailors, they both have gotten too old to sail comfortably (one is sick) and because they have been gone so long they have no home to come back to.
I know personally of 2 cases where someone retired early and went to foreign countries to live the good life.
They are both trapped. They can come back to the US and be flat broke, or stay where they are forever.
FWIW, they both are sailors, they both have gotten too old to sail comfortably (one is sick) and because they have been gone so long they have no home to come back to.
Be careful. That's all I'm saying.
That's why it makes sense to keep a small home and rent it out(property management companies take care of the logistics), so that you have something to come back to. The money you make off the rent can be enough to live off of if the house is paid off. If you don't have enough income to be able to travel back and forth periodically then maybe it's not a good idea.
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