Company man to expat early retiree in easy stages

Retiring early is dream for many, but careful planning can bring on the reality.

Bidding farewell to the mind-bending responsibility of having a career, saying goodbye to a boss who’s never realised your true potential and starting out on a much-deserved early retirement can be a dream come true for many would-be expats, provided the right moves are made. Figuring out why you’re so desperate to embrace the unfamiliar is the key to a successful life as an expat overseas, with this exercise not to be taken lightly.

Basically, it’s necessary to identify an activity which could be described as your ‘core pursuit’ – anything which actually adds meaning to your life. Once you’ve got that, the rest follows on, along with the motivation to find, set up and live your expat dream. Next, you’ll need to decide what makes you truly, honestly happy. Don’t be surprised if your answer isn’t in any way related to your bank balance, but remember you’ll need an emergency fund to draw on, with the amount covering at least six months without revenue.

The next step is to pay off all, yes all, your debts, including debit and credit cards as well as outstanding loans. Once you’ve settled into your new life, there’ll be plenty of time to research investments, but whilst you’re still only halfway out of your former life your concentration should be on the next step to freedom. You’ll also need to plan a savings regime, even if it’s only for weekends spent seeing the sights of your now homeland or throwing a party for your new friends. Financial discipline is an essential once wages are no longer coming in, and getting this right means you’ll never have to leave your new-found expat heaven on earth.