Tag Archives: Retire

5 Considerations When Taking the Expat Plunge


Are you considering moving outside of the country and becoming an expat after you retire? You may be dreaming of new adventures, the excitement of living in and experiencing a new culture. Or maybe you are looking to find a place where you get more bang for your buck.  Whatever your reason, the world awaits. It is a big world and making the decision as to where to land is difficult at best.  You may decide to move to where every other expat is moving these days – the “latest” location touted by those expat retirement blogs – or you may do a personal search to find the location that works best for you.

In my search for the “right” location I have found a few cities that would offer me much of what I look for. I fell in love with Antigua, Guatemala years and hoped to live there someday. Then there is Cuenca, a beautiful, colonial city high in the Andes of Ecuador, that captured my heart as I wandered through el Centro on my very first visit. They are both viable options, but I am not yet convinced where I will hang my hat and I plan to continue my search… Guatemala, Chile, Spain, France, Sicily, Greece, Malaysia, Thailand…the list goes on and on.  So many locations to consider!

If you are thinking about becoming an expat here are five things to consider, besides location, before making your move:

Dig deep and ask the tough questions.

Why are you thinking about doing this? What is important to you? What do you need vs. what do you want?  Can you be happy with only the needs being fulfilled?  Are you willing to accept they way they do things in your new country or will  you expect they do it the way to which you are accustomed? Can you live without that red licorice or your favorite barbeque sauce?

Friends and family. How will you keep in touch? Will you be happy not seeing them in person on a weekly or monthly basis? Can you be such a long way from your grandkids?

Is this a forever move or will you only be going for a few years and returning or moving on?

All these questions and more need to honestly answered.  A trip to explore your potential expat city will help to answer some of these questions.  Digging deep and reflecting on your values, adaptability and flexibility will help clarify your reasons, expectations and likelihood of success.

Do your research.

Blogs abound about moving to and living other countries. The bloggers share their experiences and offer a myriad of suggestions for you to chew on.  Then there are sites like numbeo.com that provide costs and living expense comparisons, a very useful tool in seeing how far your resources will stretch.

Facebook has many groups for expats living in different locations around the world.  It’s a great place to interact with and ask questions of people who have already made their move. You will find those who have adapted well, some who are less than happy for numerous reasons, and still others who after a couple of years are heading back to their home country.  These pages generally give a pretty balanced perspective on living in that city or country and honest answers abound to any question you may ask.

Think about visas, residency requirement, and citizenship, if you are interested in going that route.

Healthcare. What are the options? Is there a government program with an option to purchase private insurance instead? What will it cost out of pocket and would that be within your budget?  Will you keep supplemental insurance for when you go back home to visit? Or will you just have travel insurance?

Then there is your best bud. Are you able to bring your beloved pet? What are the requirements to make that happen? Are there vets available and what does their practice look like? What is the culture of pets in the community?

Is the expat community active and welcoming? Starting by making some expat contacts and broadening your community to include the locals as well will only enhance your experience.

Make a plan.

A solid plan will take before, during and after the move into consideration.

Long before ever packing your bags, make a plan. How will all the “at home” requirements be handled? Will everything be handled by electronic mail?  Banking, credit cards, taxes, financial planning all need to be considered. How will those be handled? When will you move?  Do you need to sell a home before you leave? Or will you rent it…just in case?  What will your move look like? Will you only take a couple of suitcases and start fresh?  Or will you pack up your entire household and all your belongings and arrange for them to be shipped?  How will you stay in touch with family and friends?  Will emails and Facebook suffice or will you want to have more personal contact through Skype?

There is so much to consider and a written, detailed plan will only make things go so much smoother. The logistics related to the move need to be considered and fully understood. Stress mixed with excitement and anticipation will be high, so having all your ducks in a row before you hop on the plane will be critical to a smooth transition.

Set a few routines.

Set a few routines when you arrive to get you out into the community so you can begin to make connections with expats and locals alike.  Each morning after breakfast while living in Peru I would enjoy a leisurely cup off coffee in the house courtyard, and mid-morning I would stroll across town to the open air market to get exercise, enjoy the sights and sounds of the city and inevitably I would run into someone I was acquainted with.

While living in Guatemala City I had a routine on the weekends. Having taught school all week, I liked to take the bus to a nearby town, Antiqua, for the day and occasionally overnight on the weekends.  It became a favorite place to go to unwind, and I became familiar with the town and it with me.

If a weekend getaway isn’t an option, consider a Saturday morning walk along the river, ending with coffee and pastry at that quiet little bakery on the other side of town. Or maybe you will join a group with like interests, volunteer to read to children at the local school or help out at an animal shelter.

Setting a few routines at first to get out and about in a normal ‘I live in this town’ kind of way, not ‘I am here as a tourist’ kind of way can normalize your new life. It will provide you opportunity to meet people in those shops, restaurants, schools, clubs and overtime relationships will evolve and friendships will grow.

Create community.

For some this will be easy.  For others who may be a little more introverted or reserved this may feel like a daunting task.

Most cities where expats reside have welcome lunches or gatherings that are held weekly or monthly. Go to the expat hangouts to start the interaction.

Get to know the locals in your neighborhood. Understand that some cultures, though very friendly, may not invite you to their home for a long time. I lived in Peru for two years and I never made it past the parlor in friends homes where guests were welcomed to visit.

Walk softly, observe and learn. Local friendships will evolve naturally over time and more often than not, expats will welcome you with open arms.

Moving to another country can be a real adventure.  Having a well thought out plan and having fully considered your reasons for moving and expectations of the experience can make this new adventure fun and exciting.

What have you done or what are you doing to make your expat move smooth and successful?

 

 

 

 

 

 

 

 

This Fun Adventure Can Add $24K Or More To Your Nest Egg


Is your retirement savings less than you would like it to be?  Maybe another $24,000 dollars socked away would make you feel a little more secure.  Do you love other cultures and traveling to other countries?  Are you a helper?  Do you have sincere desire to make the world a better place?  If you answered yes to those questions, then I think this idea might be perfect for you!

An Idea Is Born

I lay in bed trying to fall asleep as wonderings of my retirement years dance in my head.  What will I do?  How do I build my savings so that I feel more secure?  At this rate I won’t be able to stay in my home and will have to move, but where will I go?  Can I downsize and cut costs by maybe living in a park model or RV or a 55+ community somewhere warm?  Am I ever going to be able to travel outside the country again?  Oh, I so love traveling!  Maybe I could become an expat and live in a country where my money goes farther. On and on the thoughts circle in my head, until – flash! – the light bulb switches on and a new idea is born.

Now, let me preface this by saying that this idea is not for everyone.  If you don’t like helping people, or traveling to another country, or saving money, then this might not be your cup of tea, but keep an open mind and see if the seed that is planted begins to sprout.

I have spent most of my life working to pay my bills, like most people, and I envision myself not working during my retirement years.  That would be my ideal vision of my post-work era.  A good number of my jobs have been in the non-profit sector where I have gotten a great deal of personal satisfaction knowing that in some small way I was making a difference.  In my retirement, I hope to continue to be able to do the same.

Before I share my – flash! – idea, let’s consider a few questions.

Question 1. Would you like to have another $24K in your savings?

I can’t imagine anyone saying no to this question.  Like many others, my retirement savings took a hit a few years back when the market took a nose dive and I am rebuilding, so I am open to considering all types of options to increase my nest egg.  “From humming bird egg to ostrich egg,” is my retirement mantra!

Pictures from Memory Card 442Question 2.  Internationally, what country do you dream of visiting or living in?

Imagine living in another country, maybe in Africa, Asia, or Central or South America.  Maybe it is a country that calls to you on a deep level, one that you have always want to travel to. Or maybe the country you dream of is one where you would like to setup housekeeping during your retirement, but you don’t know the culture yet and haven’t had a chance to visit.   I have always had an affinity to Central and South America.  I think I might choose Guatemala, Peru, Ecuador, or maybe even Chile.  What country would you choose?

Question 3.  When you retire, will you have the freedom, the desire, or the need to move?

Can you free yourself up from the housing ties that bind you?  Are you going to have a housing transition when you retire?

I realize that am going to have to sell my house when I retire, because my incoming won’t cover the outgoing.  I am going to enjoy my house for the next 8.2 years, and then my options will be wide open.  Are you planning on downsizing to smaller place?  Maybe you think about moving to a 55+ community in the land of the sun or buying an RV and heading down the road to destinations unknown?  If you are going have a “transition” period between the life you lead now and the life you will be leading after retirement, then this idea just might be for you.

Jungle house on the river peruQuestion 4.  Are you up for an adventure?

Retirement is a time to live the life you have always dreamed of. For some, that means having the adventures you have only read about in books or seen in movies. The exciting thing about retiring is that you can now create the life you want, including the adventures of your dreams.

Question 5.  Can you commit 2 years of your life to having the experience of a lifetime, while making a positive difference in the world at the same time?

If you could volunteer, save $1000 a month of your social security income, and have an international experience in the country of your choice, would you do it?  That would be a $24,000 increase to your nest egg in only 2 years.  Tell me, you aren’t just a little intrigued right now?

So, Here Is The – Flash! – Idea

Join an organization for a 2 year commitment, while volunteering and living in another country, and save money in the process.

First, you will need to figure out how to detangle yourself from as many bills as you can before you go.  Sell your house, rent it out to someone you trust, or plan the timing so your volunteering commitment coincides with the end of your lease. You now have the essential cost savings plan in place.

Now, join the Peace Corps!  Yes, the Peace Corps.  It’s not just for young adults anymore.  More and more retirees, couples (straight and same-sex) and singles, are joining the Peace Corps well into their retirement years… their 60s…70s and even 80s!  The application process has been simplified and the wait time for acceptance has been shortened to about 6 months.  You can pick the country you would like to serve in from a list on their website, as well as the kind of service you are interested in doing.  You choose!

For the 2 years that you are living in a land that you have dreamt of, while providing service to the community, you are not paying any rent, mortgage or utilities back home.  The money you would have spent from your social security check toward those expenses can now be dropped directly into your retirement savings!  Estimate a $1000 a month savings (yes, probably on the low side for some) for 2 years and wha-lah, your savings will have a $24,000 boost. Oh, and did I mention that they pay returning volunteers a readjustment allowance of a little over $7000?  Add in 48 days of vacation, full medical and dental, family leave in emergencies, travel to and from the country, training and more, and you have a perfect package for overseas volunteering.  What are the Benefits?

heartThe Most Important Consideration

Beyond the financial benefit, I think the most important consideration in this equation is, do you want to be of service on a global scale? Do you want to give back and make a difference in another culture?  If you do, then the financial increase to your retirement nest egg is only a small bonus. The biggest bonus is how much the experience will fill your heart and the hearts of those you encounter. It’s overall a win-win, wouldn’t you say?

Would you consider volunteering outside of the country when you retire?  Where would you like to go?  Your comments, as always, are welcome below.

 

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Cheap Thrills: 25 Low or No Cost Entertainment Ideas


Do you know anyone who doesn’t love something for free or at a discount?  Retiring on a budget doesn’t have to mean that you can’t go out and have a great time.  It just requires a little creativity and some online research to find activites and entertainment at low or no cost, so you don’t need to spend your entire month’s entertainment budget in one evening.

Lucky for me and a group of friends, a good friend of ours, Karen, takes the initiative to do all the research online and compiles a list of things to do that are free or are quite inexpensive. Every few months she sends an email called, “Cheap Thrills,” inviting friends to come along. The list of cheap thrills ranges from music to festivals to garden shows and community garage sales.  It makes for a fun circle of people joining together to share in a common experience, while being budget conscious.

Go online and type Free Events (Your City) (Month) and you will see sites that post free and low cost activities that won’t bust your budget.

Concerts – Part of the Cheap Thrills list that Karen sends out is a series of musical shows that cost $45 for a series of seven shows. The entertainers are excellent, and are as diverse as the old time do wop of the Diamonds and a traditional Japanese dance troupe. We also have a free summer concert series at the marina in my town weekly throughout the summer.  At the local casino, there is an outdoor amphitheater where some pretty big name musicians come to play.  Many people show up with lawn chairs and sit on the lawn “outside” the venue, enjoy a picnic dinner and listen to the music for free! Check out your marina, city center and local casinos for free concert schedules.

Music – Some of the best music can be found for free or for a small donation or cover charge at small local pubs, taverns,  and coffee shops.  Don’t miss this great opportunity to enjoy unknowns before they are discovered or  end up on American Idol or The Voice.

Theatre in the Park – Keep your eye out for Shakespeare in the Park or other outdoor theatrical productions for an evening of performance under the stars.

Community Theatre – Small play houses can put on some pretty wonderful shows at an affordable price.  I have seen some pretty good shows for $15-20 a ticket.

Outdoor Movies – Many cities have begun offering a free movie night outdoors in the park.  It’s a great way to spend a beautiful summer evening.  Bring a picnic dinner, a bottle of wine and romance abounds.

Summer Festivals – Festivals come in all shapes and sizes, each with their own flavor. They can be cultural, musical or celebrating something specific, such as the lavendar festival and cheese festival in our area, among many others. With festivals come festival food, great people watching, and always a surprise or two.

Farmer’s Market – Head out to your local farmer’s market. Pick up your veggies and flowers for the week and enjoy your community.

Street Fairs – Summer time is the time of the street fair.  Food, art, crafts, music.  Summer fairs provide everything you need to fill a day with fun and entertainment.

Gallery Art Walks and Gallery Openings – Think free wine and hors d’oeuvres while enjoying beautiful and interesting art.

Free Yoga and Tai Chi in the Park – In many locales you can find group tai chi or yoga classes in the park during the summer for free or a nominal charge.

Brewery and Winery Tours – Wine and brewery tours are often free.  The tasting that follows may have a nominal fee, but there is no requirement to purchase wine or beer to take home. So go, learn and enjoy!

Happy Hour – Smaller portion bar menu foods and discounted drinks, sometimes featuring entertainment, can make for a great evening with friends.

Library Presentations – Many libraries offer free classes or book discussions. It’s a great place to connect with others who love reading.

Book Signings – Bookstores bring in authors who are on a promotional tours to help promote their books.  It’s an opportunity to meet the author, possibly hear a reading and get the book signed.

Museums – Some museums allow you to visit certain parts of the museum without paying an entrance fee or they may offer a senior discount.  Call around and see what kind of deals you can find.

Local Community College and University Events –  The local colleges and universities sometimes offer free presentations, discussions, music etc.  At one of these events, we had an opportunity to listen to a Tibetan monk talk about his experience of being imprisoned by the Chinese government, which was both emotional and informative.

Dancing Under the Stars – Summertime is a time to dance under the stars.  Find out if your town or city offers this type of event.

Nurseries – On occasion nurseries and garden centers will host horticultural and gardening demonstrations and talks.

Parades – There are the standard 4th of July parades all over the country, but there are also many traditional cultural celebrations that include parades and performances.  Check with your local international district to see when they will be having a parade.  Think Chinese New Year!

Travel Stores – Some stores will offer free presentations on travel topics or talks by travel authors.  I recently attended a presentation at REI on El Camino in Spain and also one at a small independent book shop presented by a new author.  Both were equally interesting and free!

Senior Center Think bingo! BINGO! The senior center often has other activities besides bingo, including dances, local day trips and other special events.  Stop in and check out their monthly calendar.

Pow Wow – Often at the end of summer and into early fall there will be Pow Wows around the country.  What a great opportunity to join with the Native American community and watch traditional dance while enjoying some flat bread and other traditional foods.  This is an annual Cheap Thrill that I always look forward to.

Free Day at the National Parks – This a day when entrance fees are waived.  So, if you don’t want to buy an annual or day pass, plan to go on the free entry day.  This year it is August 25th, September 27th and November 11th, 2014.

Dining Out – Many restaurants offer discounts for seniors or early bird specials. Before you head out, check the restaurant’s website and do a general search on the internet to see if there is a coupon.  A local Mexican restaurant that a friend and I really enjoy going to has a coupon right there on the website.  As we sat in the restaurant enjoying our meal, we have wondered how many people there did not know they could have gotten one of their dinners for free.

Hikes – Well, this isn’t exactly “entertainment,” but I had to add it in, because nothing tops being out in nature.  Nature calls for you to come outside, get some exercise and enjoy the beauty that is our world.  Bring a picnic to enjoy at your destination, before turning around and heading back.

So, look for the Cheap Thrills in your area.  Make a list, invite your friends and then head out and enjoy!

Help grow this list. What Cheap Thrills have you found where you live?  Please comment below.

 

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Visions of Retirement


One of the hardest things I have tried to do is define my retirement.  What am I going to do?  What will my life look like?  If you are like me, and you are nearing retirement age, the unknown of what is to come can send your head a spinning.

Will you live as you always have, just not heading to your job everyday?  Or maybe you will work part-time doing something you love. Is downsizing in the future?  Will you be moving to a smaller place to live? Maybe you plan to travel around the country or see world.  Are you thinking about volunteering at your church, the local food bank or for an international non-profit? Maybe personal growth is a desire, taking a course or two online or at the local college or your preference is taking care of your wonderful grandchildren a few days a week.  There are so many options. When it comes to defining retirement it will look different for everyone.

The one thing I am allowing myself to do is change my mind daily.  One day I am trying to figure out a way to stay in my house and continue living life as I have, without working, of course!.  The next minute I visualize myself heading off to the Peace Corp or becoming an expat in a culture that calls out to me.  Everyday day is an adventure in defining my retirement and I am finding joy in the exploration and creation.

Things to remember when defining your retirement:

  • Visions of your retirement will change and evolve over time, until you find the one that will work for you, and then, who knows, maybe it will change again.
  • This is your life and your time.  Create a life that will make you happy.  There is no right and no wrong.
  • Consider your budget. (We’ll talk more about that in another post.)
  • Look at all your options. Think outside of the box.  Don’t be afraid to try something different.
  • What is on your bucket list?
  • Remember that any decision that you make can be reversed.  Nothing is set in stone.
  • Retirement is your oyster.  Open the shell and find your pearl.

Comment below on how your define your upcoming retirement.  But before you do, check out how the kids describe what retirement is, how much money you need, and how long it lasts.