Retirement often brings dreams of spending your golden years somewhere warm, with a beach and a low cost of living.
While several places in the world offer low living costs, tax breaks and other financial incentives, money shouldn’t be your only motivation for retiring abroad. In fact, most experts would say quite the opposite. Even if you have money to live the lifestyle you imagined, it’s important to consider the following:
While these questions aren’t entirely financial in nature, they can have financial consequences if not thoroughly considered—particularly if a return home becomes necessary.
The last and most important question is this: Do you really want to retire abroad? If the answer is a firm, “yes,” then the answers to the above questions will help you discover the facts, adjust and make your dream happen. Living abroad is not for the faint of heart; however, if your heart is in it—and you have the financial means to back it up—there’s nothing stopping you.
Busey Wealth Management can help you decide if retiring abroad is right for your financial situation. For the support and resources you need, contact us, visit any Busey location or call 1.800.67 | Busey today.
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