Don't Make This Early Retirement Mistake

Sunday, Jan. 6, 2008

Read more about retiring overseas in International Living Postcards--Sunday Edition

When Vicki and I first moved to the Chapala/Ajijic retirement community in Mexico in the early '90s, the area was filled with lovely furnished houses to rent at very good prices. This was due to the large numbers of Canadians and Americans who had retired, moved there, decided they didn't like it, and moved back home. They left their house and furniture behind, for use by the tenants (in this case, Vicki and me).

What problem did these new retirees have with Ajijic, Mexico? In most cases, none. But they missed their kids and grandkids, their doctor, neighbors, church, etc. So, at great cost, they packed up and moved back to Dubuque, where they should have stayed in the first place.

I maintain these “retired expats” should have known better. If they had listed their priorities, they would have realized that overseas living was not for them, and that their grandkids were the most important thing in their lives. But they fell in love with the idea and the romance of Mexico, the idea of having great weather year round, the music, language, and art. They let their passion be their guide…big mistake.

Vicki and I see the same phenomenon today in Buenos Aires, where we live part of the year. Foreigners who should know better show up, see a lively tango show, and buy an apartment in Recoleta. Done. Overseas retirement in the bag. Only later do they repent, and then it's too late--the transaction costs have already set them back.

I recently received an e-mail from a retired reader who said he and his wife wanted to move overseas...but not right now. I'm just guessing, but I suspect he and his wife want to spend some time thinking about the pros and cons, about when the time might be right, if not now. Bravo!

My priorities are hot weather, things that Vicki and I can do together, friends and social life, and easy in and out.

We make enough mistakes in life, big mistakes and little ones. But when we retire, by listing our priorities we can try to avoid some of the big ones.

Paul Terhorst
Roving “Retire Early” Editor, International Living

Editor’s Choice: This Week’s Recommended Reading

The Live Overseas Kit
Make sure you don’t make the same mistake as the expats Paul spoke about. In this step-by-step guide, we will show you many beautiful and affordable places to suit your interests and budget, as well as all the practical information you need to make 2008 the year you turn your daydreams into a reality.

Staying Connected While Living Abroad
If you would miss your grandchildren too much, then maybe it’s best to stay where you are; but with the wonders of modern technology, it’s possible to see and speak to them everyday even if you are a million miles away. In this online report, you will also learn how to pay your bills back home, manage your credit cards, and get your mail forwarded, all from an Internet café.

International Living's Publisher's Roundtable
If you are serious about moving abroad and finding the best deals on property and travel, it would be worth looking into joining our exclusive Publisher’s Roundtable. Here, you will have access to every newsletter, report, publication, and book...every kit, course, white paper, subscription, and membership service that International Living publishes.