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Retiring to the sun - the facts

Retiring abroad is an increasingly attractive option for Britons seeking a better climate and a gentler way of life. We look at the options and talk to the people who have made the big move

Almost a million Britons already draw their state pensions abroad, and a recent think tank report predicted that by 2010, one in eight British over-55s will be living abroad. By 2020 this could have grown to one in five. But what are the benefits of upping sticks at an advanced age, and how can you make sure you are not about to make the biggest mistake of your life?

Finance

For many, the decision to retire abroad is partly a financial one. Not only is property often cheaper, but the cost of living in almost all the most popular retirement destinations is lower than in Britain.

Climate

The weather is the other main motivation for moving abroad. But do your homework: some people make the mistake of thinking it is sunshine all the way, whereas in reality most of Europe gets its fair share of rain, and summertime suntraps like Greece and Turkey can have surprisingly harsh winters.

Health

The health benefits of the Mediterranean diet and a more laid-back way of life add to an increasing sense that southern Europe’s natural resources can be a boon to those seeking to prolong their lives. Heart disease rates, for example, are considerably lower in France, Spain, Italy and Greece than in the UK.

If your linguistic and networking skills are not very good, you could end up feeling isolated – so start learning the language.

And if you fear you might never crack it, consider retiring somewhere already popular with Brits, so you can develop a support network and social life built around fellow expats.

Regardless of where you retire, it’s important to think ahead to the longer term:

• What would happen if you or your partner fell ill?
• How would the other cope?
• How strong a support network would you have?
• Could you afford to keep a property in the UK to use if needed?

It may sound unromantic, but retiring overseas is not just about those sun-kissed beaches and fields of sunflowers.

Thinking about the serious issues in advance could help you make the right choice from the outset.
 
Written by Jeremy Davis

This article was created: 8 August 2006.
This article was last edited: 13 November 2006.

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