Do you dream of retiring in South America? If so, you're not alone because many middle-aged workers in countries all over the world have the same idea. It's not as pie in the sky as many people think. In fact, since 2000, dozens of expatriate communities of retirees have grown in and around large and small cities all along both coasts of Central and South America, with the western seashore of the latter drawing the largest numbers of seniors looking for a unique lifestyle.
There are plenty of commonsense reasons for heading to the shores or inland locales of the southern continent, chief among them the low cost of living and real estate. Seniors who have saved diligently for decades are often shocked to realize that they can not only afford to live in South America after retirement but can afford to live quite well. Even on a modest fixed income and an average-sized nest egg, older adults can settle in one of several Spanish speaking nations that welcome foreigners with open arms. But, it's not as simple as deciding to pick up and move south. A major relocation means major and detailed planning. If you and your spouse are giving serious consideration to retiring in a South American nation, now is the time to put the fine points on your plans. Here's how to get started.
Borrow Enough Capital to Make It Happen
Even if pensions and side income seem like enough, it's important to know that there are all sorts of little things that will hit your wallet long before you leave for sunny shores. The one item people often overlook, and that can be costly, is the pre-planning trip. There's no sense in choosing to reside in a foreign country unless you spend a few weeks, at least, exploring the place firsthand. For most couples who make the big move, that means scoping out one or two preferred sites, cities, or regions once, twice, or three times before making a final decision on where they'll settle. The ideal way to do this kind of fun but serious research is during vacations you take a few years before retirement.
The smartest way to finance multiple trips to South America is to take out a personal loan. That way, you can pay for air tickets and hotels far enough in advance to take advantage of steep discounts. Saving money is the name of the game when you might need to take several trips to gather the information you need. Obtaining personal loans with low monthly payments is the prime choice for those who want to finance the pre-planning phase of their relocation.
Research
It is important to know if you will have enough money, but you also need to research the other elements of living in this part of the world. You don't need to hop on a plane and fly to a place in order to study it. Leverage the power of the internet by reading basic information pages about your target countries, watching travel and educational videos, and joining chat groups that focus on life in the cities on your shortlist. Older workers are often surprised to discover that their number one location is not necessarily the most preferred South American city among current retirees. The list changes frequently based on factors like housing prices, available space, laws governing foreign residents, and more. Expect to spend a few hours each week delving into the lifestyle, economy, history, and daily living conditions of the cities at the top of your list.
Learn Spanish
Unfortunately, many English speakers assume they'll get along just fine without learning the local language of their retirement city. While it's possible to survive with no Spanish language skills, using Spanish learning tools to learn even a little bit of the local lingo can go a long way toward making your daily life much more pleasant. Don't worry if you're not a language person. There are all kinds of fun, free, effective courses online for older adults who want to get acquainted with Spanish. If you choose to apply yourself in a more dedicated way, it's possible to learn basic conversational Spanish by studying for about a half-hour per day for a year or so. People learn at different speeds, and older adults tend to take longer to absorb a new language than younger people do. Don't be discouraged. Anyone can learn enough vocabulary, phrases, and basic grammar without much effort if they consistently spend time with online lessons.