{"id":8971,"date":"2017-01-24T09:00:01","date_gmt":"2017-01-24T14:00:01","guid":{"rendered":"http:\/\/www.escapeartist.com\/?p=8971"},"modified":"2021-06-04T05:20:40","modified_gmt":"2021-06-04T10:20:40","slug":"millennials-need-know-overseas-retirement","status":"publish","type":"post","link":"https:\/\/www.escapeartist.com\/blog\/millennials-need-know-overseas-retirement\/","title":{"rendered":"What Millennials Need to Know About Overseas Retirement"},"content":{"rendered":"
Retiring overseas is a dream shared across generations. The thought of aging peacefully beneath the shade of an island palm, far away from any worries or concerns back home is an irresistible fantasy. But now that millennials are starting to make up the majority, this generation’s unique financial challenges are coming into clearer focus – particularly in regards to retirement. <\/span><\/p>\n Members of the millennial generation face unique hurdles when it comes to planning and saving for their retirement. And as more millennials travel abroad to <\/span>build their careers<\/span><\/a>, the number of people looking to retire overseas has gone up as well. This means more competition for basic requirements like jobs and housing, as well as additional unforeseen complications along the way. But even so, it\u2019s more than possible to plan a comfortable retirement abroad, well in advance, with the right strategies. Keep these logistics in mind as you begin to save, strategize, and plan for the move of a lifetime!<\/span><\/p>\n <\/p>\n Health Care<\/b><\/p>\n Health care systems vary significantly from one country to the next, so it is important to plan for all your health care expenses early on. In some cases, you may need to budget to receive health care in your home country, which will involve some traveling back and forth. Plane fare can be expensive, so strategic planning is the key to keeping travel costs low. In other cases, you may need to purchase private insurance if your overseas employer does not offer the coverage you need. Depending on your status in your retirement destination, you may or may not qualify for all of the health care benefits that native citizens receive. <\/span><\/p>\n If you currently use Medicare benefits, remember that you cannot transfer those benefits to a foreign country. Local insurance in your retirement destination may be much less than it is in your home country, but the coverage may be limited to a given region. This means that investing in an international insurance policy is often the best option for international retirees, since it allows you to travel for care.<\/span><\/p>\n <\/p>\n Work and Income<\/b><\/p>\n