Wherever you’ve set your heart on: be this Thailand or even somewhere in Europe, if you are intending to retire abroad as a single person, there are some very pertinent questions to ask yourself before doing so. You will hardly need reminding of the fact that you will only have the one income to rely on, but with some countries this will be of far more importance than others.
Will it be best to rent or buy?
In some countries it may work out much cheaper to actually rent a property abroad rather than to buy. Before you take the plunge and retire abroad to another country, really do your homework in this regard and investigate the cost of properties to buy, as well as the average cost to rent. As you are on your own here, do you really want to jeopardize your hard-earned investment in property back in your homeland? It often makes sense to rent at first, get a feel for the local housing market and then purchase when you feel the time is right.
What is the average cost of living in the country you are looking to retire to?
This is very important indeed and again you will need to do some homework here! Before retiring abroad, it is always a good idea to check-out the prices for groceries, utilities etc. before you go. Then, sit down and work out the average cost of living on a monthly basis. Will you have enough money to cover your average cost of living and if not, might it be prudent to
consider retiring to another area or country?
What services and facilities are available for single individuals?
It is fair to say that some countries in the world are far less accommodating to single individuals and services aimed at them can be very thin on the ground. With this in mind, it would be wise to get a feel for what would be available to you if you did eventually retire to a particular area. Generally speaking, you will tend to find that First World countries fare much better in this regard, rather than developing nations. Further, Christian countries will offer much more than say Islamic states—especially if you are a single woman.
Will you feel safe in your new destination?
Crime rates must be quantified in the area you are looking to retire to. After all, you would not wish to move somewhere that is known to suffer from very high crime rates; you would never be able to fully relax and enjoy your retirement fully. Also, would you feel completely safe wandering around the local streets during the night-time? These are all questions you will need to ask yourself before actually retiring to a specific area.
Will I be able to accept local customs and traditions?
Again, this question is probably going to be more relevant to female single retirees rather than men. Some countries may frown upon women if they dress in a certain way and it is certainly not unheard of for local scorn to be directed even more severely at women on their own. People from the West may definitely struggle with the local customs and traditions of more Eastern societies. Therefore, you must make sure you visit such a country beforehand to make sure you are fully happy with the new country you intend to retire to.
Are you looking for love in your new country?
Many single people will retire abroad to another country and will be perfectly happy to remain that way once they get there. However, this will not be the case for everyone. People may have become completely disillusioned with the potential partners back in their home country and would be looking for love or companionship with different people. Before you go, check-out the facilities that are available to single people looking to meet others.
Of course, there must be 1001 different questions to ask yourself when you are a single person looking to retire abroad. But hopefully, though, this article has provided you with a little food for thought and has successfully managed to cover some of the most important.