Retiring Abroad It’s Complicated - Is It Worth It?
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- Опубликовано: 20 июн 2024
- Why we chose not to retire abroad, it's tempting to retire overseas for better weather, cheaper cost of living. Making your social security or Canadian Pension Plan go further, especially if you have no retirement savings. Let's look at the pro's and con's of retiring overseas to a foreign culture.
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Yes a mistake on the sound, it’s 2 soundtracks playing, forgot to delete one soundtrack
I knew you would find it.
Guess we are only human so sorry 🌺
Thought Tina and Norm had been taken over by AI.
Not yet 😂😂😂
After a career in international marketing, I’d always planned to retire to Asia or Europe. Having been to 40 countries, I thought it would be cheaper to live outside the US. But now I’ve reduced my living expenses to $1800/mo. and the reality is it’s hard to live on much less in another country while enjoying all the convenience and benefits of being here. So I’m keeping my home base and will travel a few months each year.
Sounds like a great plan Linda we so agree with you 🇺🇸🍷🇨🇦
Moved to 🇨🇦 from Ireland in the 80s. Absolutely love Canada! Never leaving, but may look at a modified snowbird option in the future. I love going away, but love coming home so much more!
We agree Carol love going away but so nice to becoming home 🏡
I am grateful that I live in Canada. The older I get the less I want to travel. I just got home from a trip and caught Covid and was seriously ill. I caught it on the train or plane. I'm grateful to be in Canada, there is a lot to see in Canada, instead to going overseas. We should support our own country .....
Lovely comment thanks for sharing 🙂
I have travelled abroad and I feel the same way about the USA! We have lots to see and do right here.
Totally agree Jennifer 🇺🇸🍷🇨🇦
All very true. I’m visiting my British pal who permanently resides in Mexico. Ex patriots (funny how they never see themselves as immigrants!) stick like glue mostly within their small community….virtually all Americans/canadians and don’t really mix with the local Mayans.
Funny I have been seeing lots of videos of Canadians desperate to leave. I guess it is a case of the old boomers vs youngsters meme. Young people and working families feel squeezed with the cost of living and the assets bubble. But boomers have those assets and don't feel the same pain.😂
Biggest issue for me is family. I’d miss seeing my kids! Video is not the same.
We totally agree video is not the same as those big hugs Cheers 🍻🙂🍷
My neighbors, here in Florida fly to Cancun to get expensive dental work done for a fraction of the cost here in the US!
Hey Tina and Norm. It's been a long time since I've commented, but rest assured I've kept up on all your videos. For years, my wife and I talked about and even planned retiring abroad. In the last few years, we've realized that while Canada certainly has its problems, giving up our residency is just not a great plan. We've decided that once in retirement, spending spring through fall in Canada, and then the winter months somewhere warm is the better bet. It also gives us the ability to try multiple locations in the world instead of becoming a resident of one country. Keep the great videos coming.
Snowbirds to different locations every winter...by far the best plan .
Thanks Mark we so agree with what you have Said and that’s exactly how we feel , yes Canada might have problems but so does every other country no place is perfect . We will continue living in a wonderful country and cope with the winters by going for a few months to somewhere warmer Cheers 🍻🙂🌺
Think we agree on that William 🙂👍
I moved ro Portugal and I have had great medical and dental experiences. I am learning Portuguese and my teacher has been reviewing vocabulary for emergencies. I am also in the public system. You don't have to keep your medical insurance after you get residency. But, I chose to keep my private policy. You'd be surprised how many people speak English in Portugal. I don't feel isolated and I have friends here. It is, frankly, liberating to give things up. I want as few possessions as possible. I bought some items here, no problem. It's not easy but I have peace of mind about the medical situation and cost of living. I have had many challenges with the bureaucracy here and integrating into the ciulture, One can get homesick and long for the familiar. So far, I'm doing pretty well.
We are very happy for you have a wonderful evening Cheers 🍷🙂🍻
@@ThisIsOurRetirement .. No worries.. I always enjoy your content.
Thank you guess we are only human 🌺
Best wishes to you! Enjoy your new experience.
I was told Portugal offers free language courses.
I retired in Mexico from Los Angeles-‘ and it’s amazing . The medical system here worked for me I broke my ankle and it cost under 1000 usd for everything . I would fly home if I need more extensive care. I’m 67
We are happy for you thanks for watching 🙂🍷
I have been watching your videos for a while now since I subscribed. Currently vacationing in Portugal, where we are planning to retire. My wife and I are a bit younger, fluent in both English and Spanish. We love Canada, but winter time is getting less and less appealing to us. We have visited Portugal and Spain before and we have found that most locals are fluent in both languages. Yes, universal health care is a concern, but it is a risk associated to retiring abroad we are willing to take. Exercising and eating healthy in a warm climate its very appealing to us. You could say it is not a full retirement abroad but a partial retirement that we believe is what many potential retirees would consider. Summer time in Canada is always welcome.
We hope you find what works for you both , we love the Canadian summers today is 24°and beautiful Cheers 🍷🙂🍻
These are very good points that people who haven't travelled extensively don't think about. While on the surface moving abroad is attractive, as a single white female of a certain age who travels solo extensively for months at a time - I know I would be vulnerable if I moved abroad to save money and would likely be targetted... And I am generally perceived to be fearless by even my well travelled friends.
Thanks for sharing Mary so understand how you feel 🍷🙂🌺
These are excellent points. All so true.
You’ve done a well thought out video on this one. You’ve brought up several things not touched on by other channels. I’m considering retiring either in Australia, which is my home country, or Thailand and my chief concern is heat stress. Even the cool season over there is very hot compared to Australia. With climate change it’ll only become worse and there’s another point: are people factoring in climate change? Increased heat waves, worsening storms and floods and does the country have the capacity or resources to deal with it. I think it might be better to stay here and visit as a tourist.
English is widely spoken in most hospitals in southeast Asia (Thailand, Malaysia & Turkey as well). In fact many expats go there in order to get quality and affordable medical care. English is also widely spoken in Malaysia, and the Philippines. New friendships can be established once again.
Great video!❤
I like this vid.Good insight.
Thank you for your honesty. It was hard to hear this video. There are so many RUclipsrs telling us that it is all marvelous abroad, but I am widowed so would arrive in a new country alone....THe bit about "fitting in" really made me think. I hope to spend the next fivce years traveling pretty frequently,, but I think you are right about being :Home" as we get more vulnerable. Thank you.
I'm a widow also, and I can't imagine living in another country, or even traveling like you do alone. I have done it before but at my age I don't think I would want to put myself in that kind of stressful situation.
Traveling IS STRESSFUL, NO matter what ANYONE says!!❤😮
I am widow as well. 53 years young :) traveling is a stress but exciting experience. I should travel more now but it is a bit unsettling to do it on my own. I need to find some groups that travel. In US it is likely possible.
I'm also looking for a singles senior travel group. Warm weather, good food and good company. If you know of one; please post it. Thanks.
Great video guys. Very informative. Thanks you two.❤❤
Glad you enjoyed it! Cheers Frank 🇺🇸🙂🇨🇦
Thanks for the video!
You're welcome! 🍻🙂
Lots to think about - thank you!
No worries!
I feel the same way❤thank you😊
Very good points, thanks.
Glad you enjoyed it!🍷🙂
Our pleasure!🙂
A very informative rarely heard other side of the medal, thank you!
Our pleasure! have a great Friday Chantal 🍷🙂
Moved abroad 14 years ago at age 70. I sold all my household goods and left the U.S. and 3 ex wives. Glad I can adapt.
Fresh content from Norm and Teen! This was a great one! Happy Friday!
Thanks so much Jeff that is great to hear 🍻🙂
I got the exact shirt from Costco this week! Looks so good on you! Thanks for the video
Your welcome Eva Tina got it in Black too Cheers to Costco 🙂🍷
Having just watched your latest episode I have to say that your content just gets better and better 😃 💯
Happy to hear that! we appreciate your support 🍻🙂
All great points I think people overlook a lot 👍
Thanks Fiona💕
I agree with everything you said. I would also add that tropical countries come with a lot of diseases that we don't have to deal with in Canada. I just heard that a couple of hundred Canadians have been diagnosed this year with Dengue fever due to travel to warm countries (It won't spread here thanks to winter). Malaria is another nasty disease that is very prevalent in the tropics. Parasites are common. Countries that have monsoons often have flooding. Poisonous snakes and insects, aggressive monkeys - all kinds of things that we don't have here.
Yikes after reading your comment so glad we live in Canada 🇨🇦 Cheers 🍷🙂
Hehehe. Close the door
They are all coming for you😂😂😂
Grandchildren a biggie to stay put. I know you mentioned friends and family, but it’s grandchildren topping that list by a country mile for most…..
Another great video, Tina and Norm. Both looking so well. 🎉I couldn't have moved to a country with cold winters, especially in retirement, and then I realised that I didn't want to live in a really hot country either!!! Watching your videos is really helping me work through loads of important issues! Being able to come and go when I want is the key! Thank you, AGAIN! 😊
Thanks so much, always great to hear from you!
Appreciate your thoughtful commentary, great points. As a dedicated homebody, and patriot, i feel privileged to live in our beautiful Canada
Well said! we love living here too ❤️
Hello Tina and Norm! Thank you for a wonderful informative video! All that you said is so true. Double taxation , medical insurance, the electrical power. I live in NY. It is so difficult to give up the commodities that the country offers.
Thanks for watching we totally agree Cheers 🇺🇸🍷🇨🇦
Great Video,
Thanks for the visit 🙂
I'm glad you've shared your opinion and experience. Perhaps you feel you already did the go live in another country and acclimate thing and just aren't interested in doing it again. Now it seems you're happy to go abroad for winters only. Important for anyone considering moving permanently to another country is to be sure your spirit of adventure, patience and good humor are packed. A good idea is to go to the target country for an extended visit and try and picture living there permanently.
Totally agree 🍷🙂
IMO. The best way would be dividing seasons. Summers in Canada and winters in Asia or S America.
We totally agree 🙂🍷
Norm! It looks like you shaved! I think you look younger without the whiskers. I like the background lights in this and your recent videos. I always enjoy your knowledge and insight. Cheers!
Wow, thanks
Healthcare is a major concern in the U.S. also
Many good points Norm & Tina
We are sure that Healthcare is a big concern for you as well, glad you liked the video Happy Friday 🇺🇸☕️🇨🇦
Oh my goodness, there is no way I could survive in that cold climate with my medical condition. I've never considered moving abroad, but vacationing for two to three months a year sounds ideal.
You get used to the cold but yes it’s lovely to go to a warmer place over Winter 🙂
A lot of what you say is true. But some of them are a little superficial. I think the best bet is the southern Mediterranean countries. I am in Cyprus, first world standard of living, fantastic weather and above 90% of people speak English due to being educated in UK and English being taught in all schools. And of course there was no visa work being in the EU, but not sadly anymore the case. I have travelled to about 120 countries but I still haven't found anywhere that's a better choice, all things considered!
being a snowbird canada to florida i love the life style
We love visiting the USA 🇺🇸 too 🍻🙂
@@ThisIsOurRetirement maybe plan a cicada emergence trip to the midwest., perhaps you'll get lucky and also see some fire flies.
I live in Colombia coming from Inverness Scotland, 37 years off and on, but been here fully retired now the last 5 years living here permanently, and am enjoying every day , with my two rescued dogs takes up my time , everybody knows me in the neighborhood and love a chat and a gossip, so never feel lonely.i wouldn’t return to the uk to live seems all very depressing, between the politics and weather,I guess no where is perfect, but I’ll here I’ll stay,, love your videos
Thanks for watching Robert 🍻🙂
Totally agree with you! Most of whom retire to different country mainly have stable family / maintaining close relationship there and/or are originally from there so they can adapt / accustom to the culture and its current way of living.
Thanks for watching Cheers 🍷🙂
In third world countries, you are more likely to be a victim of scams. My colleague once told me his experience of working as a teacher in China as he had to be very vigilant when he took a taxi, signed a lease, paid a restaurant bill, and dealing with a policeman since he had been scammed in all of these situations. This would be very stressful for anyone when you don’t feel secure in a foreign environment. Yes, the street food is cheap, but it is cooked with recycled oil. The tap water is not drinkable. Air pollution has also become worse in recent years.
Thanks for sharing John 🍻🙂
Some cities in third world are actually safer than most cities in first world nowadays. Especially if you are an expat. Same with water and street food. You don't need to eat those or drink unsafe water. Maybe take your friends testimony and do your own traveling and come up with your own conclusions.
Is it actaully possible that you believe China is 'third world'?? My goodness. This sounds like you haven't left the house in 20 years? Time for some travel. Be prepared to be shocked. And updated.
We experienced cultural isolation and not fitting in just moving to a new state in the US. Healthcare is awful too. You are also very fortunate to have family. All of your points are very valid for any move.
We are so lucky to have family thanks for watching Theresa Cheers 🍷🙂🇺🇸🇨🇦
When we came from UK to Canada in 2020 we did have a container with furniture we could use. Beds, sofa, table chairs, etc etc. It was great to have the familiarality. The furniture all fits well downstairs and we bought new to us upstairs. We are now looking at spending most of the winters in Florida somwhere we can drive too. Its when you lose the sense for adventure that you become hungup on all the challenges and I call it 'getting old" ..keep the old gal out 😂
Always keep looking for new adventures Fay thanks for watching Cheers 🍷🙂🍻
Such good points! We had a dream of retiring to Malaga, Spain (where I am right now on holiday, yay!) and we had many of the concerns that you raise. I couldn't figure out the tax thing to where I was comfortable with it but it sounded like the money we'd save in health insurance was outweighed by all the tax we'd have to pay. Plus all the other things you mention. While I speak Spanish, the husband does not. And the starting all over with everything, not to mention the onerous Visa process. So we gave up on that but still love to visit! Cost of living is minor compared to all the things you talked about here.
Wow we so understand how you feel , and yes we still love to visit have a wonderful weekend Cheers 🍷🙂🌺
We have been snowbirds for 12 years now. We own our home in a 55 plus community in Florida. We say we live a double life. Lol in Florida its a very social life . Lots of friends from Canada and the US. We attend lots of festival's and live music events. My husband golfs and rides a motorcycle with friends. I am an artist and joined a local art guild that I am very active in. Come mid April I am happy to get back to our life in Ontario . We live on a lake and enjoy a more laid back life with family and friends. We also appreciate our health care. I am scheduled for a total knee replacement next month and shutter to think what it would cost if we lived in Florida full time. Thanks for doing such a great job on your videos.
Thanks for sharing Christine and we wish you well for your Knee Replacement next month ( agree glad you are in Canada 🇨🇦 ) 🌺
What is the wait time now for a knee replacement in Ontario? We think of going back to Canada but keep hearing the healthcare is not as reliable with long wait times and hard to get a family doctor.
It's very different in your 60's and 70's to make big changes. Sound advice! I was thinking about moving to Panama because I hate Canadian winters but have had 2nd thoughts now for all the reasons you talked about.
We hear you probably the same we thought about going to Portugal 🇵🇹 and then we too had 2nd thoughts. Canada 🇨🇦 might not be perfect but then no other country is and the pros outweigh the cons Cheers 🌺🙂🍻
Norm and Tina, are you saying you're a couple of Misfits?!?
Lol, love ya guys ❤
Thanks for watching Dave Happy Friday 🍻🙂
I moved to Merida Yucatan Mexico two years ago. We have a service here called Health Itinerary and for roughly 25 bucks a month I have a great doctor who speaks English and if I need to see a specialist who doesn’t speak English they will drive me and converse in Spanish. If I need medication and I cant go get it they will bring it to me. I am learning Spanish as I want to understand the language of this wonderful country. There are many other expats if thats more comfortable. I didn’t move here because it is less expensive to live here but thats just a really great benefit. Mangos $3 a kilo! Plus Merida is one of Oldest cities in The Americas with a wonderful Mayan culture. So far very safe. Love your videos guys!
So glad for you Malcolm Cheers 🍻🙂
That sounds like a wonderful health plan! I never heard of someone being willing to drive you to a specialist and translate. That's really amazing!
How is the summer heat there? Merida is on my short list to live.
The hottest time of the year is right now. In summer it’s not as intense and the rains come. Personally I love the heat and only use AC at night to sleep but only for a few nights a year. We all have pools which are essential in the dry season! It’s a great city.
Know your priorities. It depends on what’s important at the time you retire. Many countries have spring weather in specific cities. I would like blue skies most of the year…slow travel a couple of months a year while living on an island on a mountain.
Agree wholeheartedly with your assessment. From the US' perspective, Medicare, which provides low-cost services to senior citizens, does not cover you if you move out of the country. My MIL is on a fixed income of $3,000 a month. She has had a host of surgeries done--knee and hip replacements plus two cancers cured, all with little financial setback to her.
Family support is very important. I would struggle not being close to them especially as I age.
We agree
Thank you for your video. The sound deliver this time is not as great as previous ones.
Made a mistake sorry
I agree with you 100 percent. I went to coffee after exercise class yesterday with an "exercise friend" and out to lunch today with a "30 year friend" and going to lunch or breakfast (tbd) with 19 year old grandson this weekend. I do not want that to stop. Would I even be able to exercise 3 times a week in a different language...nope. I would be fat, lonely with sagging skin! yikes
Have a lovely evening 🙂🍷
I learned to speak italian as I visit there as much as I can. Thinking about a small apartment there. Stay 3 months out of the year. I love the US and would never leave it permanently.
Love your videos ! so enjoyable, i do have a question, why did you want to leave England ?
Opportunity, adventure, dual citizenship for our children.
COVID taught me a huge lesson and that is how much I need my family and friends. I could NEVER live abroad
Guess we learned that lesson too Sandra 🍷🙂
Always great to hear from you. Comparison to NHS?😊 We will be staying in Canada for a while!
Thanks for watching we love it here in Canada 🇨🇦 too 🍻🙂
I have never experienced cold like the 2 times I went to Ottawa for Winterfest. It was unbelievably cold!! And I'm Canadian!
And we lived there 😂🍻😂🍷🇨🇦😂👍
We have just moved back from Portugal to the UK. One of the reasons for leaving was the healthcare situation. We did have private healthcare but I had a few health scares and even with private healthcare I had to pay a lot of money on top. We could not get on a GP,s list as after 3 years we were still way down on their waiting list. We were not entitled to free public healthcare because we were not of state pension age so every time you want to see a GP at a private healthcare facility it costs €50 not covered by your private healthcare. The health scares I had, the doctors spoke limited English and could only explain the health situation in basic terms and things did get lost in translation. I had a pretty awful experience in a local hospital where I was having a procedure for melanoma, the situation was reminiscent of being in a third world country and the thought of getting older and having to face more of this was one of the deciding factors to leave.
So sorry to hear this Jacqui that sounds awful, and so sorry your plans didn’t workout for you guess you went through what a lot of our thoughts are . We wish you well back in the UK 🇬🇧 and thanks for adding to this conversation have a great Friday and Weekend Cheers 🇬🇧🍷🙂🇨🇦🌺
There is an app that translates into most languages. Just an idea to use in these situations.
I'm moving to France when I retire (hopefully). I'm actually looking forward to a fresh start. So glad to get rid of all the stuff! And looking forward to learning the language. Great to keep the brain active :) I'd probably do more like slow travel if I didn't have pets, but I think I'd get tired of that after a while and would just want my own bed to come home to. Oh and great healthcare with no need for a private plan. And no taxes on retirement income (for those from the USA - not sure about other countries).I think I can fit in well there - it may take a couple years to fit in anywhere you move so good point. However, for a lot of people, it's worth the initial hassle.
Thanks for joining our conversation 🙂🍷
For many = climate is huge!!! I love midwest USAfir tat reason = extreme heat and cold do not last long(relatively) and m any small and medium sized comgirtable towns. Abundant cheap food and energy
Many Aussies retire to Asia because our old age pension is below the poverty line. I would love to retire overseas because my AUD will stretch further and I could travel more.
On stuff and electrical stuff; most things are practically valueless when you walk out of the store with them, so once you are done with it, it can either go to goodwill or the trash. A few things are worth selling.
Most of my electric powered items use USB which is pretty universal. The few things that aren’t benefit from the ease of going from 120 to 220 volts. Going the other way is harder.
My car only has USB-C outlets so I have found adapters to use USB-A plugs work until I get newer electronics that use USB-C before they move to a newer plug.
Cheers Ken🍻🙂
The communication of getting ill overseas is a big concern. I got really sick in Bali, and the doctors did not know English, I had to take meds etc without being able to discuss it with the doctors. I was very scared.
Google translate is useful
Not perfect
Sorry to hear that Jacquie 🌺
You could use google translate to get the basic information across. I did that while travelling across four countries in Europe for 3 months post-covid when borders started to open again. No problems with the language barrier nowadays with the technology that is available to us.
I hit send too quick😂. You brought up some good points! My wife is from the Philippines. When I retire in a year or so we plan on living 6 months there and 6 months in Florida at our current home.
English is the Philippines second language. They teach it in schools there. It's relatively easy to communicate. There are many thousands of expats there so overall not hard to live there. It is not the same as where you're from but it is doable. I want to give my wife some time back in her country. Different situation than yours. Take care!
We totally understand David being able to enjoy the best of both worlds 🇵🇭🇺🇸🙂🇨🇦we are happy for you both 🙂
Yes I agree with you into moving to Canada, I moved here because of my Job, still wishes to retire back home but health care is my biggest worries, btw what make you decide to move here, I heard England is very safe to live. Thanks for the info about Portugal
That's why you travel and live abroad when you're young. You have not accumulated a bunch of stuff that you will have to sell. You don't have kids. You are a lot more flexible and more willing to be uncomfortable in certain situations. Also since you will most likely do a lot more walking, that would also be easier when you're younger. I do agree that past 65 doing all of this is a lot harder.
Living abroad - especially someplace warm - sounds so nice, but for me it is family 100%. We're all in the same part of the country, and I wouldn't leave them for anything. But oh, the winters are long....
So agree the winters are long but can’t give up family guess we so agree Cheers 🍷🙂
One can learn to speak the language 😊 I’m looking at retiring in France. But I will definitely learn the language before I go.
Best of luck!🙂
The big deterrent for me to move abroad is family. I moved across Canada and even with that move have found that the majority of my travel fund and "fun" budget is spent visiting family across the country. Imagine the cost to see family if those flights were transAtlantic or transPacific. Ouch!
So agree Jane and we just couldn’t do it 🙂🍷
We have lived in two different countries, including Canada, and found the opposite to be true. In our case, the country has a double taxation agreement with Canada , so any taxes paid overseas are offset against Canadian taxes.
These are good points you raise, which are of value to those considering that move and it's best to do due diligence first. We returned to live in Canada, and the taxation aspect continues seamlessly as we have income from the other country.
Your channel and topics are valuable.
Good point on income taxation. There are tax treaties between countries where you are not double taxed on incomes. However, as a Canadian if you leave Canada you will have to pay capital gains taxes as if all your assets are sold on the day you leave Canada even if you don't sell your assets. It would not be a big deal for those with savings accounts or GICs only. But if you own property or shares of corporations or businesses and you are sitting on capital gains,, then your exit tax bill could be hefty.
Thanks so much Cheers 🙂🍷
@@kyungshim6483 Probably, as usual, there is a way around this.
My favorite retired couple.
Thanks so much
Yeah that was a great take on it all guys.
Things are usually cheap for a reason or the hidden compromises may not be cheaper at all over time.
Here in Australia I believe that you have to spend two years here on the Govt. Pension and move overseas without losing it according to a RUclipsr I was watching the other day. The other side of this is what happens if the Govt. finances get ever tighter they decide to save money by not paying those who are no longer contributing to the economy that's paying their pensions etc?
The other thing, imo, is that doing this is a one way street as selling everything and moving may mean you will never be able to afford to come back if things don't work out in your new location.
Even two years away from Australia will mean that rents, housing and just about everything else will have gone up a big chunk in most places.
I watched a video a while back by a financial dude in the US who had moved to South America somewhere and he ended up moving back as he got concerned about security and being the foreigner you talked about in your video.
Interesting about your universal healthcare there. We have it as well but have the private health system as well which we pay about $530 a month for now.
It's expensive but we avoid the waiting lists that exist in the public system. We have family/friends who've waited years for a knee or hip replacement and all the pain and compromise that involves in life.
The ironic thing is that they likely won't pay anything for the procedure whilst we will have a bit of a gap to pay.
Another week of absolutely glorious weather here but we need some rain.
Cheers.
Oh the weather is awesome here too 24° just beautiful 🌞
@@ThisIsOurRetirement We've had weeks of it now but it's cooling down a bit now.
Went fishing with a mate yesterday and it was delightful.
We sure do need some rain though.
We just got a roughly 1k water bill for 3 months.
Oops.
All great information. I wouldn’t want to live anywhere else but visiting maybe okay. I also live in Ontario but have all my life so used to snow and cold. I’m not liking the changes now though, less snow but still cold and wet, rainy. I enjoy cross country skiing, sledding with grandchildren but this last year was a bust.
We agree it’s hard over winter Tanya but visiting other places over winter is nice but you can’t beat Canada 🇨🇦 in the summer Cheers 👍🌺🍷
I agree 100% about health care. It can be a major expense and once you get older, if you can't participate in the new countries universal health care system. Also, you may find it hard or even impossible to get health coverage in some countries when you are over say 70. The standard of health care may also be quite different from what you are used to, particularly if you are not in a major city.
The double taxation thing can be an issue. I am from the USA, but I moved to Canada for my professional career. I returned to the USA when I retired because largely of double taxation. The USA wants tax money from you no matter where you earn the money and it is very hard to break that tie. In my case, while I was working in Canada I had what was called the "earned income exclusion" under US tax law that allowed most of my Canadian income not to be taxed by the US. However, on retirement since my pension no longer counted as "earned income", it was 100% taxable in the US. I worked out what my total tax picture would be if I stayed in Canada and discovered that I couldn't afford to stay in Canada as a retiree because of US taxes on my pension. So I moved back to the USA. Canada still taxes my pension though, but that taxation is limited to 15% by a tax treaty (no tax credits though - just 15% off the top). So you really do need to become very educated about taxation.
It is quite surprising how much small cultural difference can bother you. For example, I never got used to Canadian spelling (e.g., colour, centre, etc.) and it bothered me even after many years in Canada, particularly because it was so darned inconsistent.
Wow. What an ordeal. Sorry to learn about your tax situation.
I can relate to Canadian spelling. I am 48 year old Canadian resident but went to high school in NJ. To this day, the spelling of some words stump me from time to time.
Thanks for sharing Todd Cheers 🇺🇸🍷🇨🇦
We’re considering moving to be near to our son and his wife in Perth Australia so that he can have oversight if we get ill as we get older… not now but maybe in 10 years time.
Do it sooner than later if not just go for the 3 months a year that you are allowed Cheers 🙂
I spent my life moving around, and I hope to spread my retirement likewise, initially in Portugal, then Thailand, then when I get decrepit, down to Oz for the healthcare. Despite being born British, I am over it. It is still a wealthy country, but the health service is dire. You can't rely on it. It is a lottery. I am not worried about possessions. I have shipped stuff interstate around Oz at great expense, and learnt that you need to dump big things and just move the stuff that suitcases take. You do have to weigh up the hassle. But no pain no gain. If you want to stay still to avoid the hassle, that's ok. Everyone is different.
Many of your points are valid for many people. The not fitting in part? I'm a visible minority anglo that's lived in la belle province for decades so no issue there for me, I'm used to it. Yes, I speak basic French! English speaking countries? there are a few in SE Asia like Malaysia and Philippines. One can always learn a little of the local language with some effort. Heat and humidity? yes, I would take 32c over -25c any day of the week. Food and cultural differences? I can adapt even at retirement age as I already eat foods from different parts of the world. Poverty? Yes, welcome to how most of the world lives. If one is well travelled it's no big surprise. Healthcare is the biggest one for me, but where I am at the moment seeing a doctor or God forbid a specialist takes weeks or months at a minimum. In many Asian countries if you have the money, you're taken care of without the waiting time for a fraction of the cost of private healthcare here. Family and friends? yes another big one that I can overcome as my circle is small.
Thanks for sharing 🙂🍷
It can be dangerous to retire and age in a foreign country especially those with a high rate of crime such as in the Caribbeans or South/Central America. It only takes a trio of teenagers with an IQ of 85 having smoked pot in the middle of a dark night and your retirement plans could end quicker than you had planned.
@marcoprolo1488. The things you describe happen every day in the US and in Canada.
@@pattylyman7907 In the US yes, in Canada much less. There was a story like that in Val Des Monts, QC 20 years ago but it is still fairly rare here. In the US, I don't even set a foot there.
As a Canadian I also long to live overseas from time to time but I can't fathom giving up my tax residency status due to the exit tax. One option would be to take a 5 year approach where I would sell my assets in chunks each year to reduce the overall tax bill prior to my departure. But that would work well for those with modest amounts of wealth. The rich will get taxed a lot upon exit no matter how they slice it. Thankfully (or regrettably) I am not rich so I won't be facing that problem.
Cheers 🍻🙂
Handier being an EU dual.
I think it depends on the country and your personal circumstances. If you have been visiting the country for a number of years and have built up contacts \friendship groups then it may be easier. I can also see that coming from North America to Europe that the culture shocks might be too great whereas if you are already living in the same part of the world things might be similar. We have known several couples retire to Spain and have had no problems. Our neighbour's parents have recently left the UK for Spain and have integrated well and are learning the language. Of course it was easier for them because they had EU citizenship. The Spanish healthcare is very good and better than the UK. We have talked about it and would have tried it out if we hadn't lost our citizenship because of Brexit.
I can certainly understand your views, as you both have already experienced a major move and then a move to a smaller town,,, But when I read the latest McLean's report on health care, and listen to some other you tuber's; many who seem to be leaving Canada, I can see both sides of the coin. I do not see much hope for Canada in the next decades or so,,, And I feel the resentment against baby boomers, growing,, as politicians make it seem we are all millionaires,,, who are a bloat on the health care system,,, I personally am torn and will keep researching .....in the meantime: ,,, Keep well ,,, I think you two have the best of both worlds😎😎
We think so too Maryjoan , yes lots are leaving Canada as they think the grass is always greener somewhere else but in reality no place is perfect Cheers 🍷🙂🌺
I agree, better to keep a home in Canada with Canadian citizenship and travel abroad when health permits, especially to get away from Canadian winters, even if just for a week or two.
We agree with you, that's our plan!
I'm always nervous about crime and not knowing where it's safe or not including travel.
As we age, the state of the medical system becomes primary.
Canada's single-payer (ie: government funded) system is under immense stress. Result is _long_ wait times - up to 6 months for an MRI - massive medical errors with zero accountability, and in many cases sub-standard care. The stories of people dying in ER waiting areas of heart attacks, ruptured bowels, and strokes because the on-site physician was stitching up a finger cut from slicing a tomato are commonplace.
Best care I ever personally received was in Cambodia. Worst? An ER in Ontario.
Thanks for sharing however we have been in need of medical attention many times and can’t fault the care we got was excellent in Canada 🇨🇦
We retired to France when I was about 70 and have since moved to francophone Switzerland. A few comments.
As we get a British state pension a reciprocal agreement pays for our health insurance and a quick google suggests that may apply to British pensioners in Portugal.
We spent a lot of time learning French and have non English speaking friends, but I do miss the ease of communication - but that is very minor compared to the benefits. If we were more outgoing we could easily find anglophone friends.
Electrical appliances are less of a issue now because electronic stuff, computers etc just needs the appropriate power supply. Most domestic appliances are built in these days and apartments are fully equipped so you would not take them anyway. We shipped a few items of furniture which have sentimental value and the rest is mainly IKEA.
Your remarks about cheap hot countries are absolutely spot on, one of the reasons we moved here is the climate and the fact that people are honest, the administration is efficient, you know where you stand, there is no real poverty.
I'm surprised being close to family and friends wasn't #1 on the list.
They weren’t in any particular order 🌺
Not just the accent, the language use too of course. Toronto is never a problem but even in reasonable sized towns in Ontario people do the occasional double take when you use unfamiliar words. I have less trouble in Australia than North America in general.
I think a lot of folks in the West are 'comfortably numb' Familiar is easier and basically easy. Unfamiliar is a stretch. I want to settle in one place. Born here, I don't find Canada terribly interesting. I dream of being snowbird in Philippines.
Go for it Kevin
I think you guys are best suited to live out your days in small town Ontario. World is too scary.
Thanks Jamie maybe we will just keep visiting everywhere nice to go away but always great to be home 🏡
Fear mongering is not good. Cost of electronics. I hope that doesn’t hold someone back. All very small time.
Just saying = you look great clean-shaven! Facial hair is a tyrn iff to many ( looks durtier and seems like you are hiding something. No one is perfect and just BE YOURSELF. If something bithers you or not, JUST SAY IT. You wont offend many and mire will appreciate your total honesty. Do not try to be perfect...❤️❤️❤️❤️😎
Thanks 👍
Norm, you might want to check your sound system, it was a little difficult to hear.
Thanks it played great to us 🙂
I experienced cultural alienation when i lived in Scotland. Firstly, i had difficuly understanding their version of English. That was in the 1970s. Of course, after a few years i figured it out.
Thanks for sharing June 🍷🙂
I bought health insurance once i retired and I'm in Ontario.
Thanks for sharing guess that would be good for dental and optical 🙂
I wouldn't even retire to another province. Family becomes so important as you age. It’s bad enough that mom who is in her mid 90's lives on the other side of Toronto from me and I don't drive highways but what if I was in another country. She live for me to take her to lunch. My own sons And grandkids live 15 minutes away and I am so thankful. At 70 we have serious health issues and I so appreciate that we didn't retire to cottage country like I originally wanted. I live in a bungalow townhouse complex with mostly other seniors. So many I talk to had retired to their north Ontario cottage or to another country only to have to come back in their 70's because a spouse died and they wanted to be near their kids or they needed nearby medical care. We have bought a cottage/trailer like you have. It is under 2 hours away so we can get home for appointments. This is my idea of retirement.
Thanks for sharing 🙂🍷🌺
At the end of the day, it is your friends and family that make living special.
Interesting topic.. wondering with your wealth and double incomes plus RUclips income do you donate cash to support any CDN charities?
Yes we do 🌺
Curious to know as you mentioned emigration in your 30’s, did you emigrate them work in Canada then retire?
Yes worked in Canada and retired
If one does some internet research, many of your so called problems may be avoided. For example Ecuador uses 110 volt US style electricity and uses the US dollar. The Ecuadoran cities in the Andes have a truly spring like climate year round.
There is a level of civil unrest in Ecuador