Over nearly three decades of providing financial planning counsel to clients, I have observed a variety of lifestyle trends rise and fall in popularity. A good example of those changing persuasions is the growing number of pre-retirees that are shunning the idea of owning a 2nd home. The most cited reason is the high “true cost of ownership” (e.g., home, insurance, maintenance, HOA dues etc.) when the home is only occupied 3-6 months annually. Secondarily, retirees say that the knowledge of these associated costs create pangs of guilt when they contemplate going somewhere other than the 2nd home for a holiday. Finally, the internet has made it possible for you to find outstanding properties for rent all over the world and with commitments as small as a week or spanning 2-5 years. In fact, a growing number of retirees are embracing the freedom to explore different global areas of interest by way of extended stays. If you are thinking of enjoying some of your retirement in another country, be sure to understand the hurdles you may have to face. The following considerations will help you lay the groundwork for a smooth transition and avoid any unpleasant surprises that might otherwise arise after the big move.READ MORE
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