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Retire Abroad: 5 Easy Steps To Paradise

So lately you've been thinking about retiring abroad.
You and your wife are empty-nesters and the economy isn't getting any better.
Besides that, your next door is really starting to get on your nerves.
The further you contemplate the expat life-style, the more attractive it gets.
You, like many Americans, are seeking retirement outside the country.
The ability to stretch a dollar while maintaining a decent quality of life is the main attraction.
Expat hopefuls are also adding great weather to their list of "got to have" amenities.
Nevertheless, before you head for the coastal waters of paradise there are 5 easy steps to contemplate: Try Before You Buy- No matter how many brochures you read or internet searches you perform, nothing beats personal experience.
A quick jaunt to your retirement destination may put your mind at ease.
You'll be able to do your own analysis and have fun at the same time.
In Javea, Spain, a future expat can rent a beach front apartment for as low as 33 dollars a night.
Children At Home- Yes even retirees may have children at home.
People are having children later in life.
Some may even be playing surrogate parents to grandchildren.
Whatever your circumstance, please check out the educational possibilities before you pack that golf club.
Spain has a state funded school system as well as private schools and a range of international and foreign schools.
Around 30 percent of Spain's school children attend private schools; the majority of which are co-educational.
International and foreign schools are the only schools which use English as the teaching language.
Keep in mind that there may be additional fees associated with the schools.
Whatever you decide, prior planning will make the decision smooth and easy.
Foreign Earned Income Credit- If you work in retirement while living overseas, you can claim the Foreign Earned Income Tax Credit.
This credit will prevent an American taxpayer from double taxation.
The retiree may choose to take a deduction for foreign taxes paid instead of choosing a credit.
According to the Internal Revenue Service it's to the advantage of the expat to seek the foreign income taxes as a tax credit.
Healthcare- How is the local healthcare in the country you want to move to? Are English-speaking doctors a necessity for you? Will you be able to cover out-of-pocket expenses for inpatient/out-patient care? Will Medicare extend to other country? Will you need supplemental coverage? Seek out the answers before you go abroad.
Stay Connected- Even the most reclusive individual needs to connect with friends and family.
Establish the way in which you will connect with them before you leave.
Social sites like Facebook and Skype make it possible to connect with loved ones in a matter of seconds.
Certain locations abroad won't have internet capability.
Be aware of that possibility while in the early stages of planning.
Retiring abroad will be one of the most important decisions you will ever make.
Some say that they have never felt better and have no regrets.
Proper preparation beforehand will make this choice effortless for you and your loved ones.


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