This as-told-to essay is based on a conversation with Federica Grazi, 34, who is based in London. She is the founder of Mitos Relocation Solutions, an advisory firm that helps retirees move abroad. It has been edited for length and clarity.
There’s often a big gap between people who dream of retiring abroad and those who actually take the first step toward it. For many, hesitation gets in the way, and the idea of moving remains a dream.
People are often drawn abroad by the lifestyle, but making a successful move means considering the full picture, like healthcare, aging, and the tax implications of residing in a new location.
Here are the five things I recommend everyone do before they retire abroad.
1. Test-drive your potential new home
Spend an extended trial period, say three months, in the place you’re thinking of moving to. It’s not about visiting for a week in July or August. Go in the offseason and try living like a local, thinking about what your everyday life would look like.
Rent an apartment, speak with locals and expats, and join community Facebook groups.
I’ve had clients for whom something as simple as getting medication from a pharmacy became an important test of whether they could see themselves living somewhere.
2. Turn the dream into a decision
If you’re unsure about retiring abroad, it doesn’t have to be all or nothing. The key is not to let inertia take over and leave it as a dream, but to move from a question mark to a clear yes or no.
In addition to spending a trial period in the country, you can do smaller things like speaking to others who have already moved to the destination to understand how it works in practice, or get advice from an expert who can give you a full rundown. They could even go on a scouting trip for you.
3. Don’t rush
If you decide to retire abroad and you’re excited about it, don’t rush the move. Changing residency is an important moment, so make a clear plan for what needs to happen before you leave.
Think about whether you need a visa, housing, and even how you’ll move your pet. You should also deal with things that aren’t necessarily pleasant, like your will.
4. Think about taxes
People often focus on the lifestyle abroad and think, “I love it here. I’ll figure everything else out later.” But that can lead to big tax mistakes, which need to be addressed before you move.
If you only discover a problem after the tax year has ended, there might not be much you can do about it.
5. Take healthcare seriously
Healthcare is something you want to be thinking about before you need it. How do you access it? How much will it cost? What might happen if you end up in the hospital?
If you wait until something goes wrong, you could find yourself having to react and needing to navigate an unfamiliar healthcare system before you’re fully integrated.
Often, when people say they hated living abroad and moved back, it’s because they didn’t do enough research or preparation beforehand.
Retirement abroad should be a period of joy and expansion. Doing the planning beforehand means that once you arrive, you can actually enjoy it.
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