The retirement age is sometimes called ‘golden years’ and there is a good reason for that. Indeed, you have a monthly allowance that is enough for a living and you don’t have to go to work anymore! With the recent developments in medicine, retirees do not feel old at all. Rather, they feel healthy and energetic.
If you are planning to retire soon, you have to think about an important issue that you have probably been ignoring: Where are you going to spend your golden years? Since they are your golden years, they have to be spent in the best possible way. If you are lucky enough to live in a country with a nice climate and a low cost of living, you will not probably want to go away. After all, it’s important to live close to your children and grandchildren.
But what if the climate in your home country is not so great? What if you may find it hard to make ends meet because your pension is not going to be so high? If this is the case, we suggest that you should think of retiring to a foreign country.
The main reasons why we put forward this suggestion are as follows. First, there are countries in the world where you could live almost in luxury on your American or European pension. You can have a much better lifestyle for the same amount of money. Second, there are countries in the world where the weather is warm and sunny most of the time. Third, many countries welcome foreign pensioners.
They do so because retired people do not increase the competition in the local job market and because they are going to bring some foreign direct investments to the country. They are not going to be spending tons of money but they are going to be spending their foreign pensions in the host country, which is good for its economy anyway.
Thus, retiring overseas is a possibility that is worth considering. Moreover, many retirees do spend their golden years abroad. Many Americans go to Panama, for example, or some other country in Central Europe. Portugal is quite popular with retirees from Northern European states. We are not going to speak about the most popular destinations, however. Instead, we will suggest three less obvious options that deserve your attention anyway.
Retirees to Bulgaria
Bulgaria sits at the shore of the Black Sea. It’s a resort country, as a matter of fact. You can settle down close to a wide sandy beach somewhere in Slancev Brjag (Sunny Beach), for example. It’s a nice town with lots of modern hotel complexes and a long shoreline.
Other places such as Varna, for instance, could also be considered as the city is larger and it offers more amenities while also sitting at the seashore. We do not recommend that you consider Sofia, the capital of Bulgaria, however. The city is rather dull and it has few historical monuments. This is largely because Bulgaria was under Ottoman Empire for centuries and the local culture was suppressed at that time.
The climate is superb in Bulgaria: warm winters and hot summers. There are not too many natural wonders in the country but you will find a lot of green plants there. The air is extremely fresh wherever you are in Bulgaria (maybe with the exception of Sofia).
Property by the sea costs more than inland property does but it is much less expensive than real property in Western Europe anyway. As far as your everyday costs are concerned, a few hundred dollars or euros per month will be enough to cover them all.
At the same time, Bulgaria is an EU member state with all the implications that this status has. Even though it is outside the EuroZone, banks in Bulgaria are highly functional and your pension can be easily transferred to your Bulgarian bank account. The level of medical services is quite acceptable in Bulgaria too. If you have a serious health problem (god forbid), a two-hour flight will take you to the center of Western Europe where all sorts of medical equipment and medical doctors are available.
Retire to Montenegro
Montenegro is also a country at the seashore and it is a popular tourist destination similarly to Bulgaria. However, Montenegro differs from Bulgaria. First, the climate is not the same there. Montenegro is a mountainous country and its climate resembles the climate in Panama in a certain respect. Namely, the closer you are to the sea the hotter it becomes and the higher you climb up the mountains the cooler the air is. Thus, similarly to Panama, you can find the temperature in Montenegro that makes you feel as comfortable as it can only be. Please note, however, that the average temperatures are lower in Montenegro than they are in Panama.
The nature of Montenegro is fantastic indeed. Bays cutting deep into the land, islands sitting off the coast, mountains reaching for the sky – there are many natural wonders to explore in Montenegro. Besides, the architecture is much more interesting there than it is in Bulgaria. You will find medieval castles and tiny old villages that seem to be still living in the middle ages if you take a tour around Montenegro.
As far as the prices are concerned, the property costs a bit more than it does in Bulgaria but it is quite affordable anyway. Your everyday costs are going to be comparable to your everyday costs in Bulgaria.
What is not very good about Montenegro is the quality of medical services in the country. You won’t be able to get qualified medical assistance in Montenegro. Please bear this fact in mind. Montenegrins who need serious medical help go to Serbia and Bosnia and Herzegovina.
Retire to Serbia
Of all the three countries, Serbia can probably offer the highest level of comfort. It’s a modern European country with all the attributes that a modern European country should have. It has a rapidly developing economy, a reliable banking system, a good healthcare system, and a stable social security system.
But even against this background, the prices in Serbia are comparatively low. A person with an American or a Western European pension can live a carefree life there.
The climate is mild in Serbia but winter and summer temperatures are notably diverse. Living in the Serbian countryside is an exceptionally attractive opportunity if you are looking for a peaceful and quiet place to spend your golden years.
Serbia is a landlocked country but there are plenty of lakes and rivers so swimming opportunities are available there.
In conclusion, retiring to a foreign country is an opportunity that is worth some serious consideration. You have been working hard all your life and you have to be able to afford some luxury in your golden years. Don’t you think so?
