5 reasons why you won’t leave the US in 2025 to retire
What are the top 5 reasons why you won’t leave the US to retire in 2025? Find out here on this episode. Then download your FREE Queer Money Kickstarter, a 9-step Guide to Kickstart Your Journey to Financial Independence.
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Why you wont leave the US in 2025
On this Queer Money®, we’re sharing the top 5 reasons why you won’t leave the US in 2025 to retire. What are the 5 biggest hurdles stopping you from moving abroad? Let’s tackle common excuses, discuss real-world strategies to overcome someday, and turn your goals into reality.
One common reason is financial concerns. Most people ask, “How can I afford to move abroad without risking my financial stability?” The perceived high cost of relocation, combined with fear of losing income stability, is the most significant barrier for many. The solution is to pick a country or countries to move to. Get clear on Basic, Happy, and Fab costs in that country or countries using the Nest Egg Navigator. Watch Queer Money®episode #546 on multiple income streams in retirement and Queer Money® episode #551 when we talked about how to fund retirement. There is a big difference between retiring here and in another question.
Another common reason is Visa and Legal Hurdles. What are the easiest ways to navigate the complicated world of visas and residency permits? Unfortunately, it will probably cost money to secure visas, meet residency requirements, and navigate foreign bureaucracies, which prove too daunting or expensive for many aspiring ex-pats. The Solution to this would be to hire a local immigration lawyer or consultant who specializes in the country you’re moving to. We talked with an attorney & a real estate agent in Spain to better understand moving abroad. Research countries offering expat-friendly visa pathways like Digital Nomad Visas, Startup Visas, or Retirement Visas. Portugal has the D7 Visa, Mexico has the Temporary Residency Visa, and Thailand has the Elite Visa. That is currently, and this may change. Start small with a tourist visa. Join expat communities on Facebook or other places where you want to move. Attend embassy workshops and info sessions. Don’t just trust a YT video; go out and research it and speak to a real estate agent and an attorney.
Another common reason is attachment to family and or friends. How do I handle the emotional pull of leaving loved ones behind when moving abroad? Emotional ties and obligations to loved ones, such as aging parents or children, decide to move away incredibly difficult.
Another common reason is having healthcare concerns. A recurring question is, “How can I access reliable and affordable healthcare in another country?” Uncertainty about access to affordable, high-quality healthcare abroad, especially for those with ongoing medical needs, is a major concern. Some Solutions are to research, research, research. Invest in expat health insurance. Companies like Cigna Global, Allianz, and IMG specialize in plans for ex-pats. Just because another country has free or low-cost healthcare does not mean you can access that right away.
Our fifth and final point of why people are not leaving the US is the “Waiting Gap Trap.” Why do I keep waiting for the ‘right time’ to move abroad, and how can I take action now? People delay indefinitely, waiting for ideal circumstances that may never materialize, effectively shelving their plans to move abroad. A solution would be understanding that there will never be a Goldilocks moment to move abroad. There will always be some type of challenge.
For the resources and to connect with our guests, get the show notes at: https://queermoneypodcast.com/subscribe.
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