Living the Dream: The Growing Trend of Retiring Abroad

For decades,
the idea of retirement was tied to familiar things: a paid-off home, grandkids
nearby, and a quiet, comfortable pace. But in recent years, a growing number of
Americans — especially retirees — have begun looking outside the borders of the
U.S. for their next chapter.

Whether it’s
the promise of better weather, lower cost of living, or simply the adventure of
something new, retiring abroad has become more than a fantasy — for some, it’s
a practical decision.

Why More
Americans Are Looking Abroad

According to
the U.S. Social Security Administration, over 450,000 Americans are now
collecting Social Security checks while living overseas. And organizations like
International Living and Forbes consistently rank countries like Mexico,
Portugal, Costa Rica, and Colombia among the most popular destinations for
retirees.

Why the
shift? A few key reasons come up often:

• Cost of Living: In many parts of Latin
  America, Europe, and Southeast Asia, retirees can enjoy a comfortable
  lifestyle for a fraction of what it costs in the U.S. That includes
  housing, healthcare, groceries, and help around the house.
• Healthcare Access: While it may surprise some,
  many countries offer high-quality, affordable private healthcare — often
  at prices significantly lower than in the States. In places like Mexico,
  Colombia, and Portugal, a visit to a specialist might cost less than your
  insurance co-pay back home.
• Quality of Life: Slower pace, vibrant culture,
  fresh food, walkable communities, and warm climates appeal to many looking
  to live healthier and more intentionally in retirement.

Is It All
Sunshine?

Of course,
moving to another country isn’t for everyone. There are challenges to consider:

• Language Barriers: While English is widely spoken
  in some areas, learning even basic local phrases can go a long way — and
  some countries require proof of language proficiency for residency.
• Legal and Financial Rules: Banking, taxation, and
  residency requirements vary by country. You’ll want to understand how your
  Social Security, pensions, and investment income will be taxed both at
  home and abroad.
• Health Insurance: Medicare generally doesn’t
  cover care outside the U.S., so private international plans or paying out
  of pocket becomes the norm.

Tips for
Exploring the Idea

You don’t
have to move tomorrow — but if the idea of retiring abroad has ever crossed
your mind, consider these steps:

1. Travel First, Live Later: Spend extended time in a place
   before you consider making it home. Renting for a few months in different
   areas can give you a true sense of daily life.
2. Run the Numbers: Just because a destination is
   cheaper doesn’t mean the move will be free of financial surprises. Look at
   everything — housing, transportation, schooling if relevant, and
   unexpected medical costs.
3. Talk to People Who’ve Done It: There are vibrant expat
   communities in many countries who are often happy to share real-world
   experiences, advice, and pitfalls to avoid.
4. Work With the Right
   Professionals:
   If you’re serious about exploring life abroad, talk with a financial
   advisor, estate attorney, and tax professional familiar with international
   living. It’s not just about where you want to live — it’s how to make sure
   your money and legacy work for you across borders.

Living
Life on Your Terms

Retirement
doesn’t look the same for everyone — and that’s a good thing. Whether your
dream is a rocking chair on the porch or exploring a colonial city in another
country, the most important part is making a plan that supports your vision.

If you’d
ever like to talk through the possibilities — whether local or international —
our door is always open. We’re here to help you weigh the pros and cons and
think through what a meaningful next chapter might look like.

Kent Pendleton, AAMS®

Financial Advisor, RJFS

Pendle Hill Advisors LLC

14375 Liberty St, Ste 109 | Montgomery, TX 77356

T 936-297-8267

Kent.Pendleton@raymondjames.com | www.raymondjames.com/pendlehilladvisors

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