Quality of Life Driving Retirees to Expatriate and Live Abroad

A brand new, in depth survey has been conducted by a think tank working for a leading foreign exchange specialist to determine just how many British people are planning on retiring abroad, and also the driving reasons behind their plans to expatriate when they retire.

The findings of the report are striking and quite conclusive; of those surveyed 67% are planning on moving abroad at least by the time they retire, and of that 67% a whopping 83% said it was quality of life driving retires to expatriate and live abroad because the quality of life achievable in the UK has declined significantly in the past ten years.

It is apparent that these sorts of survey are being conducted by think tanks and industries related to emigration, buying property or moving money abroad more and more regularly as questions relating to the UK's immigration and emigration policies are raised by the general public and the media.

It seems it's all very well the government saying more people arrive than leave and that the UK is therefore not suffering from a brain drain or an economic decline brought on by fewer people paying into the exchequer's coffers - but it's hard to see this as positive news in the face of the fact that 67% of a broad target group of 3,000 people surveyed are planning on leaving the UK at least by retirement. And of that 67%, a decidedly decisive 89% believe that not only has the standard of living declined in the UK in the past ten years, but that in the future it will further deteriorate.

Other significant factors raised by the survey by Foreign Currency Direct as being reasons key to a respondent's decision to expatriate and live abroad were: -

• Bad weather
• Rising violent crime
• High cost of living
• High cost of property
• High levels of immigration

Almost 100% of respondents were certain that they would be made to feel welcome in their new home country if they were prepared to integrate - even though a slightly worrying 24% had never actually visited the country they were planning on moving to!

While moving abroad can mean that a retirement income goes far further, that a better, lower cost of living can be achieved and a more temperate climate enjoyed - potential expatriates have to be mature in their decision making and planning strategies! While it's great to dream of retiring to a villa in Spain it is still wise to visit Spain for extended periods of time during different seasons to determine whether the country is actually all you expect it to be and that it matches the dreams you have of it.

Furthermore, anyone who plans to live abroad needs to know that the grass really isn't always greener on the other side and no matter how good a life is achievable abroad there will be times when you wonder if you've made the right decisions, and there will be people, places and things you will miss about the UK.

Our 5 top tips for anyone planning on expatriating in retirement to live abroad are: -

1) Realistically consider the immediate and long term financial aspects of living abroad - factor in flights back home, taxation, health care costs and likely inflation

2) Get to know the country and area you're thinking of moving to before you go

3) Build up a support network as soon as possible - this should include everything from friends and neighbours to reliable and honest plumbers and decent doctors

4) Get on the internet before you go - try and find an expat forum where there are others who have gone before you, ask them about the realities and get tips about what to take and what to expect etc.

5) And finally, don't cut ties or burn bridges - it's easy to do especially in the excitement and stress of moving - but you never know.you just might want to go back home one day and if you've just told your next door neighbour that you never did like their gnome collection you might just find it embarrassing and tricky to face them again!



Rhiannon Williamson is partner and co-founder of Shelteroffshore, a practical online magazine for individuals contemplating moving and living abroad, buying property overseas or investing offshore. Visit Shelteroffshore