I've been wanting to move overseas for as long as I can remember but work and the mortgage ect has kept me reasonably grounded.

Until now! How many of you have done it, want to do it and where would you go, what are the benefits and how much would I need to do it?

My retirement plan is to move to either Mexico or Central America. I taught in Mexico from 2004 through 2007, and I lived modestly on about $600-$700 a month.

At age 55 my pension will pay out about $2000 a month in today's money. You can live on that kind of money here in Canada, but your budget will be mighty tight. On the other hand, in a place like Mexico or points south, if you stay away from the touristy areas, you can live quite well on that kind of money.

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Bruce Clarke - 2020 Yamaha XV250

I moved to Bermuda in 1984 to work and have been here ever since. The cost of living is too high to live comfortably on a pension though, so I'm looking at other countries for when I fully retire in a couple of years. Panama and Ecuador are highly rated as retirement destinations.

I suggest that you subscribe to updates from International Living - you'll find lots of information there specifically geared to living abroad. International living - Live, Retire and Invest Overseas.

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2014 overland adventure to Russia and Central Asia in Land Rover Defender www.bermudarover.com

In my experience... And probably yours..

If you come from a 'first world' country, life is far more adventurous, enjoyable and much more affordable in the 'Third world'...

If you're in the right circumstance though.. Why chose ???? Maybe keep a foothold in a few places. Be it a house, room, caravan or plot of land.

If someone threw a BIG bag of money at me right now I'd probably buy somewhere super cheap in my home country and save a room for myself in it... I would rent the rest of the house out very cheaply to friends... Just to keep an address and 'nationality'.

Id then maybe try and buy a few places around the world in a different continents... I'd try to turn them into hostels/camp sites and keep them self sufficient.. I'd ride between them all in rotation. Taking a different route each time.

One day maybe

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Did some trips.
Rode some bikes.
Fix them for a living.
Can't say anymore.

That's the idea Ted, as you Stan (greenmanalishi) and I previously discussed at length, it's still very much the bullseye on the target.

Funding is main hurdle, and I hope Brclarke meant $2000 per month ? Given one is fortunate enough to have the recourses to retire, liquidate, rent or invest. Finding where to invest is the question. Doing the sums on how much your going to need to do things comfortably and safely depends on the individual/s and the level of comfort you can live with for an extended period. Lets say 30K GBP (50K US) per annum ? That's 82 quid ($136 US) a day.

Visas are also a big hurdle, for instance 3 months in Europe, for non residents will fly by (trust me just been the and done that) and you cant get back in for another 3 months! No amount of grovelling will change the situation either!

Health insurance, bike registration, insurance and upkeep, finding somewhere to store your bike/s, getting from one continent to the next, maintaining communications, phone, internet access ect ect will in total incur considerable expense.

A solution of sorts,

If one could afford to purchase a couple of relativity inexpensive properties and turn them into homestays, B&B's, backpackers, campgrounds or small hotels (I'm stumped for an accurate description) the benefits and rewards may well be worth the considerable effort.

For example a property in Spain and one in Central or South America, one can apply for business visas which are longer and multiple entry or permanent visas, I'd will have a permanent address to register and insure vehicles, accommodation and a workshop.

Furthermore one may well get a reasonable return and better still, be able to claim some of the expenses incurred for maintenance, improvements, depreciation and maybe even some of the travel, bikes and consumables ect if you run tours.

Given the choice of location I don't think it would be too hard to get hold of a Hubber or 2 to run the show whilst aboard either.

Ever been to South Africa Dave ??

There is potentially a very interesting project starting up there by a very good friend of mine. Can't post too much on the hubb about it but with very little money it could be something VERY special.

I'll email you about it..

Ted

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Did some trips.
Rode some bikes.
Fix them for a living.
Can't say anymore.

No I've never been to Africa, it is on the list though!

Email replied to, Mate

You'd likely be better focusing your search on countries for which you don't need a visa - if you're planning to retire there.

In Panama, for example, you could qualify for their pensionado program provided you can show a regular income of $1,000 per month (age is not a requirement). Once you're in the program, you get discounts on all sorts of goods and services.
50% off entertainment anywhere in the country (movies, theaters, concerts, sporting events)
30% off bus, boat, and train fares
25% off airline tickets
25% off monthly energy bills
30% to 50% off hotel stays
15% off hospital bills*

Panama Visa | Panama Visa Requirements | Panama Residency Visa

I know the link above refers to this being a 'visa' but it is really a retirement program, not the normal entry visas required by some countries.

Similar retirement programs are offered by other countries. They want you to move there with your guaranteed income.

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2014 overland adventure to Russia and Central Asia in Land Rover Defender www.bermudarover.com

Now that's impressive, thank you :-)

http://internationalliving.com/ Contains a wealth if information and provides some very interesting reading.

The obvious question is, which other countries offer similar incentives?

Panama offers the best pension benefits but you can also look at Costa Rica, Nicaragua and Ecuador for starters. Then Uruguay, if you want something further south. Spend some time working your way through the International Living website. As you've already observed - there's a wealth of info there for the reading.

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2014 overland adventure to Russia and Central Asia in Land Rover Defender www.bermudarover.com

Depends entirely on what you want (i.e. if you want to work).

Cambodia for me is ideal - manageable in terms of size, costs are low (new films at the cinema for $3, meals from $1 onwards, is $1.50 for a jug, rent is $300 a month for a new two bed apartment) and the visa is the best. Get a work visa at the airport for $25 and you can extend it indefinitely in the country.

Then, there are other places if South America is more appealing.. Medellin (where I live now) is nice; my friend runs Medellin Living - Colombia Lifestyle, Nightlife and Travel Blog which might be of use to you.