Very early retirements and emigration is the new first world trend

Very early retirements and emigration is the new first world trend

Very early retirements and emigration is the new first world trend

A recent study shows more and more professionals are planning on retiring early and moving overseas.

A newly emerging trend in first world countries of working hard to get capital and retiring early as expats overseas is changing the accepted lifestyle norm to a new way of living. From as early as 30 to around 50 years old, emigration and embracing a whole new lifestyle is taking hold amongst first world professionals. The reasons behind the shift are simple in that workers in the Western world are unlikely to have saved enough by the conventional retirement age to adequately fund the extended life spans common in the 21st century.

As life in the first world becomes ever more expensive and less rewarding, the fact that a more enjoyable lifestyle can cost less than half than in the home country is encouraging many millenials to give up and get out while they’re still young enough to fully enjoy the challenges of living overseas. Many who’ve taken the plunge report via expat surveys that they’re living better than would have been possible in their countries of birth. In addition, many are deserting their home countries as they’re unable to agree with the political direction they’re taking.

As with all life’s adventures, it’s best to plan carefully before booking the plane ticket, as visa regulations and bureaucracy are similar the world over. Accessing benefits you’re entitled to from your home state is also important, however much money you’ve amassed in order to follow the dream. For certain countries, tax implications need to be considered, and once you’ve arrived in your chosen destination, adjusting to a new culture and way of life takes time.

Right now, Asian countries are favourites for expatriates from Western nations as they’re still significantly cheaper than even southern Europe’s traditional favourites. Calculating the initial costs of the move, including a new house, car, transportation of your worldly goods and the cost of the right visa can all add up, but it helps to remember they’re one-off expenses and won’t affect your monthly budget.

For Americans, Central and South America are still cheap enough to make the plan work, and most are economically stable.
For the truly adventurous, Vietnam, Cambodia and even sleepy Laos have their attractions, and all have tropical climates varying between warm to hot during the year. Being sensible with your accumulated capital and drawing your pension, however small, when the time comes is the way to free yourself from financial worries and live your new life to the full.

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