�鶹��

As you start thinking about retiring abroad, look at where you stand now in terms of both your current finances and your potential retirement income.

Take stock of your expenditures and think about any lifestyle changes. For example, if you want to keep two homes, will you need to make any adjustments to your savings or retirement plans?

Also consider longevity risk—that’s the potential to outlive retirement savings. Justin Waring, Investment Strategist Americas at �鶹��, notes one of the major differences of the baby boomer generation compared to those before: “Baby boomers will be the first generation where there’s a good chance they will spend as much time in retirement as they did in the workforce.”

For many, moving abroad can reduce the cost of living, which can add years of savings power to your retirement portfolio.

With an endless number of destinations to explore, there is a lot to consider. To start, be sure to think about non-negotiable factors—these can include everything from temperate weather, access to quality healthcare, security or a lively ex-pat community.

Of course, the cost of living should also come into play. This is one area where moving in retirement can make a meaningful difference. Waring notes that “cutting your retirement spending by nearly 30% could have a huge impact on the sustainability of your retirement plan.” The same is true of moving somewhere with higher housing costs, taxes or other living expenses.

There are many cosmopolitan destinations around the world which can provide the benefits of a relatively high living standard with a lower price tag. The �鶹�� Prices and Earnings report can help you find the location with the right balance of amenities and costs for your family.

As much as you might adore your new home, you’ll probably want to travel back home to visit relatives or to explore new destinations.

Take time to research the travel rules and regulations of your top retirement destinations. There are often important considerations around visas and residency permits or applications.

Also think about the basics: Is it easy to get to the airport? Will your visitors have difficulty getting to your new home?

Picking up and moving abroad, while exciting, can cause financial complications—especially when it comes to your banking, investments and taxes.

There are also special factors to consider about real estate. Depending on your location, the rules and financial burdens can shift. For example, buying a home to live in full time versus a potential investment property you’ll rent out can have different tax impacts.

To get a full picture of what you need to know, do your research and speak with your Advisor. Make sure you discuss all of the implications with your family, as well. There are nonfinancial considerations, like being able to visit the grandkids, that may end up being vital to your decision.

While retiring abroad has its own challenges, being prepared and working with your Advisor to come up with a strategy can help you make the right decision about where you’d like to spend your retirement years for the best bang for your buck and, of course, optimal happiness.