Rising costs of living and a number of disappointing summers mean that for many, the UK’s simply not the dream destination they’re looking for. So is there a way to retire abroad – and can it work out cheaper than staying in the country?
A new infographic published on Yahoo Finance seeks to answer this and other questions about moving away once you finish working – and the results offer a promising look into the financial implications of moving abroad. The most popular destinations are all far hotter than the UK – seems that most retirees are seeking a long-overdue extended holiday in the sun! – while many are built around entirely different cultures, such as the large-scale lifestyle or America or the laid-back attitude of Jamaica. Our main interest though was the cost – here’s a breakdown of some of the main findings:
- Low property prices in Portugal, Barbados, the USA, Thailand and Jamaica were cited as major benefits of moving, suggesting that a number of expats move to get away from higher housing costs.
- Low-cost or free healthcare was seen as another huge advantage, as especially in later life it’s useful to have a good system in place. Top choices for healthcare were Barbados, Australia and Greece.
- An existing ex-pat community was an essential requirement to make the shortlist, an unsurprising find considering that many of us prefer to spend our free time among friends. Spain and Portugal have some of the largest communities, while close-knit groups can also be found in Malta and Australia.