Could you retire overseas?
Looking to stretch that strong dollar even further? The answer for some Canadians is moving to a country with a lower cost of living.
Some 3 million of us live abroad, not counting military and embassy folks. And while many of these are naturalized Canadians returning to their first home, some are retirees. Could you be one of them?
Tax laws, medical care and security may not seem that important when you're dreaming of gentle tropical breezes but they quickly become a preoccupation once you move to another country.
In many places around the world, you can enjoy a wonderful high-quality lifestyle for a fraction of what it costs at home. A week’s worth of groceries or even full-time household help can be yours for pennies on the dollar. And housing can cost you 50-75% less than it might here in Canada.
But that's never the whole story, of course. For those, check out these forums or these personal stories.
If you're thinking of making such a move, ask yourself the following, say the editors at International Living.
- Do you thrive on change?
- Are you comfortable in new situations and with making new friends?
- Are you okay with not living close to family?
- Can you speak (or learn) a new language?
- Are you intrigued by foreign cultures and customs?
- Are you single, or if not, is your spouse or partner amenable to moving overseas?
- Are you looking for a way to improve your quality of life while spending less money?
Could you see yourself retiring somewhere other than Canada? If so, where? Or have you already left?
Posted by: oldstr | Apr 7, 2021 9:58:29 AM
My wife and I have been to 90+ countries. In have not seen one where iI would rather be than here in Canada, not in Monaco, not in Switzerland not anywhere. Love to visit them, but after 2-3 weeks is back to Canada where home is.
Posted by: bunty | Apr 7, 2021 10:46:01 AM
id go live in india, its a little hot but the people are great,cost of living is cheap, and i get all the fruits n veges i want from the farm for free. All the neighbours live like family, they stick up for each other, ad the respect elders, i dont see that anywhere in canada
Posted by: rudy van oldenbarneveld | Apr 7, 2021 11:00:27 AM
We like to go to the Philippines,and we go 5 month a year,I cannot believe the baby boomers that are moving there,We have met many, and they are staying there,and live there,cost and living is very, very cheap in comparison with Canada. We build a big place on the Pacific Ocean there,My wife's helper cost $25 dollars a month,
Posted by: maria laura | Apr 7, 2021 11:03:36 AM
im still young, but in the future i would like to go back to my country, but i dont know if i would loose my citizenship? i have been a citizen for the last 15 years, so i dont know
Posted by: Pam | Apr 7, 2021 11:08:57 AM
I have lived in Canada for 40 years and this God's own country!
My sister moved to Australia and is getting ready to retire. Guess what? She may not be eligible for the Old Age pension we all take for granted in Canada, as it is not automatic there, it happens to be 'means tested' - even your furniture is evaluated. I question that humourously, can you eat the furniture if times get rough?
Here are some wise words (said to me by a friend who went back to his birth country to work as an expat)...........you can live like a king (and queen) with all the trappings of wealth, but you must be able to afford to leave it all behind if need by (natural disaster, civil disruption, security, etc.)
The Americans can scoff at our 'social' health care all they want, but you even in countries with a similar program people have to get private health care or risk waiting forever to get medical attention!
Posted by: Bill Taylor | Apr 7, 2021 11:26:28 AM
Having lived and worked in 7 different country, during my working days, we would love to move to another country. My wife of over 45 years, is from Central america and we both speak both English, Spanish and some French so we would have many places we could go too. We only have two main reasons why we do'nt go, and they are the simle things. The kids and grand kids and of course the health care benifits we have here in this wounderful country,Canada, we now call home.
Posted by: kyzlorda | Apr 7, 2021 11:54:55 AM
Colombia man.that's where I am going. Beautiful climate , beautiful scenery, relatively safe (depending where you are), 1/3 the cost of Canada (except driving),friendly people, lots of Hot women, hardly any Gringos, and no stupid MSN articles like that dumb "Cougar" thing from Chatelaine. No sir, men act like men and women act like women. Gotta speak Spanish, but it's easier than most languages.
Posted by: Mely | Apr 7, 2021 12:31:19 PM
I have visited a lot of the islands in the carribbean, and yes it is beautiful, great weather, and really nice people. However, being born in Canada, and living here for almost 30 yrs, I do miss my home here in Canada when I visit abroad. I thought about moving, but then medicare cost came to my mind. I have family in the islands, and they are always having to go to the US to get good medical care. That scares me a little bit. Strange enough I have been thinking about Ireland or Iceland. I know drastic, but they are beautiful countries. Anybody know if its worth making the move to either of these countries?
Posted by: Goober | Apr 7, 2021 12:59:28 PM
My wives and I travelled alots when we was younger and i was in the Army. Germany, China, India, Africa. They is good places to visit but way too many foreignors for my liking. I don't think I'd want to live at any of the places. Food gave me the runs, some animals think of you as food and I never saw one good trailer park to live in.
Posted by: PirateKitty | Apr 7, 2021 1:49:09 PM
Not me, I'll be retiring in a lovely hillside home in the Cowichan Valley. I don't need "helpers", mansions or shiny toys let alone a tropical climate. All I want is some fresh air, a low maintenance house with a garden in the back. As long as there's enough room for us (me and my SO), a cat and some visitors, I'll be happy as can be.
Posted by: Daniel | Apr 7, 2021 2:01:20 PM
I was born and raised in Canada and truly love it, however the high cost of real estate and living in Canada is a huge detriment to quality of life there. I took a job overseas 12 tears ago and have never returned, the people overseas are so friendly and helpful. Besides that we own a great home at a fraction of the cost. High speed internet has been here longer than Canada. The food is natural(organic) and government medical is free, I mean free, no cost ! Not like Canada where a family has to shell out a hundred bucks a month or so. There are drawbacks in the developing world but the rewards are greater. More time for family and activities without the huge financial strain, and great weather most of the year.
Posted by: Jeff | Apr 7, 2021 2:17:14 PM
Daniel, where are you describing... sounds tempting.
Posted by: mike | Apr 7, 2021 2:58:08 PM
Yes Daniel...please tell!!
Posted by: Lise | Apr 7, 2021 4:38:01 PM
Daniel, it sounds like paradise... please tell us.
Posted by: Richard | Apr 7, 2021 4:47:19 PM
My choice wouldbe the Philippines....home of the worlds most friendly people. Having visited there many times over the past few years its true to say that life is comfortable and very reasonable. Can you live comfortable there on your canadian pension,YES you can,and still have change left at the end of the month. My favorite island of the 7106 there is Bohol....Go visit and see for yourself.You will return to Canada witha really great WOW feeling.
Posted by: Derek Hildenbrand | Apr 7, 2021 4:48:17 PM
I'm a young Canadian (30), traveled to around 70 countries and lived for over a year in Australia, US, London, Beijing, Costa Rica and now Buenos Aires. Canada has the outdoors, nice people, and great infrastructure but overall for my liking is too materialistic and has too high taxes.
Health care is not the best in the world in Canada. Have a look in Scandinavia. Even Costa Rica had excellent health care. Now I'm in Argentina and it is universal with less wait times compared to Canada. Overseas health insurance is not expensive at all unless you're really old.
You can still be a Canadian citizen while giving up your residency... bye bye taxes. Old age pension... if you make a decent living then you aren't going to get much of a pension anyway.
Security... lets just say there's tons of safe places in the world. I've never felt safer than I was in Beijing and Costa Rica. Way more than back home.
Making enough money to retire... why not just work your way around the world. Find a place you love and settle in. Money is generally easy to make anywhere, especially if you can work through the internet.
Posted by: robert | Apr 7, 2021 5:22:33 PM
Belize(formerly the British Honduras) is the placeto retire with great climate,english language,exchange rate locked at 2 Belize= 1 USD.
Ambergris Caye is the largest island with small town charm,laidback atmosphere,friendly locals,lots of inexpensive places to eat and stay.
Posted by: Ravi | Apr 7, 2021 5:27:17 PM
I was born in the Caribbean but I have lived in Canada for 15 years and I love this country. I considered moving to Florida due to similar weather to the west indies and houses 1/3 the price but its too laid back and boring for my liking. I spent 1 week in Florida and I was home sick.
Canada Rocks
Posted by: sigi klein | Apr 7, 2021 5:57:34 PM
What about Uruquay , heard only good's about it .
Posted by: Caroline | Apr 7, 2021 7:42:05 PM
Daniel, why aren't you telling us? Very tantalizing!