Retirement - Expat Network

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Top Tips For Managing Currency Risks When Retiring Abroad

Retiring to a life overseas, comes with many important considerations, not least of all how to manage the exchange and international transfer of your money, be it accumulated savings or ongoing income. Written exclusively for Expat Network by Tom Arnold of Currency Index There are various options open to you in terms of the...

Expats – Plan Your Retirement Abroad

Many expats having spent a proportion or all of their career abroad get used to a different climate and lifestyle and do not feel drawn back to their home country when considering their retirement. There are many options for retiring and it is a very personal decision on where to retire. For some retiring where...

How Will Your UK Pension Be Taxed If You Move To Europe?

Many Britons have been putting their retirement plans to sunny southern Europe on hold for two or more years while the UK extracts itself from the EU. Covid lockdowns mean the opportunities to sell a UK home and buy a property in Europe have been limited. The ending of travel restrictions will release pent-up...

Moving Abroad Checklist

Initial Considerations

Will your partner be travelling with you?

If so, what will they be giving up in your present home and will they be able to continue with their career in your new home? You will need to check whether a separate visa is required for your partner to work or if your visa gives that right. If they are unable to work you will need to decide on the effect on your finances and what alternatives are available to give a fulfilling life (home business, training, voluntary work).

Are you taking family with you?

Moving with family raises many exciting opportunities, but also can create challenges. The HSBC Expat Explorer survey indicates that expat kids can take six months to settle in to their new country (see article). Getting young or even older children to prepare to move and leave their friends and family behind can be a challenge and should be thought through.

The options for education is another area that needs to be thought through.

Moving your child to a new country with a different education system can be a great opportunity to broaden their experience, but if they are close to key exams the timing can make this inadvisable. If you do take your family with you, it is important to decide between joining the local school system or choosing an international school.

Where will you be living?

Whether you will be living in a house or apartment, furnished or unfurnished, these decisions will affect what you need to take with you. The time you are planning to live overseas will also affect whether you should leave your property at home empty, rent it out or sell it. See the article Sell, Store or Ship.