A Working Retirement Abroad
Many retirees have chose to make work an important part of their retirement and many more will not have a choice but to continue working after their retirement age. The housing and the near economic collapse have altered the plans of millions Americas.
Of these working-retired Americans many have decided to live and work abroad, seeing foreign pastures as a place to discover new culture, get out of the rat race and regained a measure of control in their lives that for many Americans seems lost. Of course the financial gain is also a prime mover in the decision process simply because it’s far less expensive to live abroad. The number one region for these working-retirees is Latin America because of its proximity and also because Latin Americans are cultural cousins to North America.
Central American countries have seen a surge in soon to be retirees planning their retirement abroad. The primary destinations Central America are Costa Rica, Belize and Panama.
An estimated 350,000 American retirees receive their Social Security abroad and resent surveys indicate that at least 3.3 million American are looking to retire abroad in the coming years. This projection could balloon as baby-boomers reach retirement age and realize that living abroad may be a necessity to stretch out their retirement saving.
If you are considering or planning a working-retirement abroad here some important points and strategies to help the planning process:
1. Online jobs. Online work can offer a great deal of opportunity as you can work from anywhere with Internet access and as well for employers that are located anywhere in the world. Writers, virtual assistants, accounting, tutors, webmasters, booking agents, telecommuting customer support, etc., are some examples of online work.
2. Native English speakers are sought after. There are a large number of jobs available in many countries to teach English and because these tend to be conversational English positions you will not need a specialized education although a TESL certification will help. Translator, tour-guides, call centers, hotel/resort positions are readily available.
3. Start a business. B&Bs, English language schools, retail shops, real estate agencies, restaurants, bars and retail shops are some examples of businesses expats abroad have successfully developed.
4. Skilled trades. Is your current skill set transferrable to your new location? Electricians, home renovations, architects, etc., are example of skills that are often required abroad especially in under developed countries.
5. Connect long before your go. This maybe the most important of these points and examples discussed so far. Connect and start networking long before you arrive at your destination country. Join expat comminute forums, newsletters, and websites that let you connect with people, talk, participate, make friends… there is a good chance you will discover and/or line up the opportunity you need through network
I hope you got value from reading: A Working Retirement Abroad. If you would like additional information about migrating to Costa Rica, please contact our office HERE. Here are a few really interesting articles about Costa Rica, and all the fun you can have whether you are contemplating a vacation or as an investment vehicle.
