Moving abroad at age 50 feels amazing, however, while moving abroad can pose challenges at any age, reaching the milestone of 50 brings a unique set of circumstances. At this stage, individuals often have children and are actively planning for their retirement. Shifting gears to relocate to a different country requires careful consideration and adjustments to existing plans. Retirement investment strategies, such as 401K plans, come with specific age limitations that can complicate matters. Making abrupt changes without proper foresight may result in penalties and setbacks.
One crucial factor for individuals in their 50s is the well-being of their children if they have any. They may be in the midst of parenting or providing care for aging family members. While the allure of living abroad captivates many, the reality is that some individuals find themselves remaining in their home countries due to familial responsibilities. However, these circumstances should not discourage one from pursuing their dream of living abroad. With careful planning and problem-solving, solutions can be found for most challenges that arise when moving to a foreign land.
Is age 50 a good time to make a move and live abroad?
Age 50 is the perfect time to consider moving abroad because many individuals have reached a level of financial stability that can provide a strong foundation for a smooth transition to living abroad. With careful planning and budgeting, it is possible to leverage your financial resources to support a fulfilling life in a new country. Plus, it’s possible to live more affordably than in one’s home country.
Let me share an example from my own experience: I hail from the United States of America but currently reside in Thailand. Thailand, with its lower cost of living compared to the United States, stands out as an exceptionally budget-friendly place to call home. Despite the difference in currency, it is considered one of the most cost-effective countries to live in not just in Asia, but worldwide.
Want to know the cost of living in Thailand? Check out our full cost breakdown video below!
Why is this important? With a lower cost of living, it may be easier to afford college tuition for any children and medical care for any aging parents. If you still have younger children in high school or middle school, international schools more affordable than private schools in the U.S. Plus, this lower cost of living also provides you with more money to use for activities you enjoy such as traveling more.
Is moving abroad on your bucket list?
Is moving abroad a dream on your bucket list? If so, it’s essential to prioritize avoiding financial liabilities and instead create opportunities that will facilitate your journey abroad. Let’s consider a couple of scenarios: Imagine someone at the age of 50 deciding to purchase a luxurious Mercedes-Benz. While it may be an enticing choice, financing one creates a financial liability. Similarly, envision someone in their 50s purchasing their dream home worth $500,000 without paying in cash. This also generates a significant liability. Often, these financial burdens become the primary roadblock preventing us from pursuing our aspirations of moving abroad.
To prepare for the big move, it’s best to eliminate or decrease all financial liabilities including credit cards and loans, and to have plans to sell any homes and cars before you leave. It’s best to be as free as a bird when you leave to start your new life.
Another crucial aspect of preparation is securing a stable source of income. Some individuals may have access to a pension, which they can begin drawing from at the age of 50, making the transition abroad even smoother. If you already have a pension available, you may qualify for a retirement visa in many countries, allowing you to enjoy your retirement with a significantly lower cost of living.
However, if you do not have access to a pension or 401K at the age of 50, it becomes vital to plan for work opportunities while abroad. This can be approached in several ways: seeking local employment in your desired destination, working remotely for a company, freelancing on platforms like Upwork or Fiverr, or even starting your own online business. With numerous online career possibilities available today, as long as you remain open-minded, you can easily transfer your wealth of work experience to a new environment.
If you want even more ideas on how to work while abroad, download our Ultimate Guide to Working Abroad below!
The form you have selected does not exist.
Why is moving abroad so difficult for someone who is 50?
Why is moving abroad at age 50 so difficult? One common misconception is that individuals with medical difficulties can only receive proper treatment in their home country. However, this couldn’t be further from the truth! While it presents an additional hurdle to overcome, being 50 years old doesn’t mean that medical conditions, such as high blood pressure, become insurmountable.
I actually found access to affordable medications much easier abroad than in my home country of the United States. The pharmacists abroad are much more helpful in refilling an old prescription without calling my doctor or demanding a new prescription. Plus, I was able to get a three-month supply of medication for around $12 USD. This is just one of the benefits of healthcare abroad that I really loved and give me comfort that as I age that I will be able to afford my medications, something that can be a struggle for seniors in the United States.
Nursing homes are also a more affordable abroad. If you are worried about getting advanced nursing home care for your parents, it may be beneficial for you to research nursing home costs abroad. It could mean a better quality of life for your parents as well as yourself.
Just know that across the globe, there are skilled doctors and nurses who are well-prepared to address these health concerns and provide comprehensive care. They possess the expertise and resources to tackle a wide range of medical challenges and serve aging populations that face similar difficulties as we do. And the best part is that many doctors abroad also speak English so the language barrier should not be a concern. So, rather than viewing medical care as an insurmountable obstacle, we must shift our mindset and recognize that these are challenges that can be overcome with the right mindset and research. Numerous solutions await us if we take the initiative to explore them.
Why do people put moving abroad off until they are older?
Why do people often postpone moving abroad until they are older? The answer is quite simple: we tend to overlook such possibilities amidst the distractions and busyness of our lives. Focused on raising our children, supporting them through college, aiding them in starting their own families, and caring for our aging parents, we rarely pause to consider our own desires. We selflessly prioritize the needs of others, which is admirable, but we mustn’t reach a point where our own aspirations and the things we long to do no longer hold significance. Regret can settle in, leaving us longing for the opportunities we missed.
However, it’s never too late to revisit those dreams and rediscover our passions. In fact, this stage of life could be the ideal time to do so. The present moment is where our power resides. The past is behind us, and the future is shaped by our actions today. Therefore, it is crucial to take this time to reflect on who we have become. At the age of 50, we are no longer the same individuals we were at 20, 30, or 40. We have evolved, and with this evolution comes a renewed vision for our lives. If that vision has yet to crystalize, now is the perfect opportunity to create it.
It’s never too late to embark on a journey of self-discovery, embracing who we are and who we aspire to be. This is the time to design the life we want to live. By doing so, we inspire our loved ones to witness our fulfillment and realize that they too can prioritize their own passions and dreams. Our example encourages them to take the time to explore their own paths of personal growth and fulfillment.
Is it more difficult to live abroad?
Is living abroad more challenging? Not really. Most people tend to complicate things unnecessarily, driven by their fears. In reality, it’s not as complex or difficult as it may seem.
When you move abroad, you will encounter similar responsibilities as you would in your home country. You’ll need to find housing, discover your favorite local restaurants, locate a reliable doctor, identify a suitable gym, explore shopping centers, and navigate transportation options. However, once you accomplish these tasks, your hard work is done, and you can fully embrace and enjoy your new home.
Remember, if you have any questions about finding specific resources or services in your new destination, you can seek guidance from the numerous expat Facebook groups available. For instance, if you relocate to Vienna, you can join the “Expats in Vienna” group and inquire about anything you need from people who are already living there. Even when far away from your home country, you are never truly alone abroad. Support and assistance are readily available within these communities of fellow expats.
What are the benefits of living abroad at age 50?
Moving abroad at age 50 offers numerous benefits. First of all, it gives you the opportunity to gain fresh perspectives and immerse yourself in a new culture. By experiencing a different way of life, you can broaden your horizons, challenge your preconceptions, and develop a deeper understanding and appreciation for diverse cultures and traditions. This cultural immersion can enrich your life in countless ways, fostering personal growth and expanding your worldview.
Secondly, moving abroad at age 50 also allows you to build your adventure muscles and step outside of your comfort zone. While you are living abroad, you are bound to try new activities, and to discover hidden gems in your new surroundings. Whether it’s exploring breathtaking landscapes, visiting historical landmarks, or indulging in local cuisine, every day becomes an adventure filled with exciting possibilities.
The biggest benefit is that many countries offer a higher quality of life at a lower cost compared to living in your home country. Affordable countries that come to mind include Thailand, the Philippines, Mexico, Portugal, the Czech Republic, Belize, Vietnam, and Ecuador just to name a few. There really are a lot of countries to choose from, giving you the chance to find the perfect fit for you. Lower living expenses, affordable healthcare, favorable climate, and access to recreational activities can significantly enhance your overall quality of life, allowing you to enjoy your life to the fullest.
The forth big benefit of moving abroad at age 50 is that it provides an opportunity to expand your social network and make new connections. Whether through local communities, expat groups, or shared hobbies and interests, you can meet people from diverse backgrounds and forge meaningful friendships. Building a new social circle can bring joy, support, and a sense of belonging to your life abroad.
Lastly, living abroad presents a chance for personal reinvention and self-discovery. It’s a time to redefine your identity, explore new passions, and pursue long-held dreams. The freedom and independence that come with living in a new country can inspire you to embrace new opportunities, learn new skills, and tap into your full potential.
Our Final Thoughts on Moving Abroad at age 50
Living abroad at age 50 is an incredible chapter of life that offers numerous benefits and rewards. From gaining fresh perspectives to embracing adventure, the experience can be transformative, empowering, and deeply fulfilling. It’s never too late to embark on this journey of self-discovery and embrace the extraordinary possibilities that living abroad at age 50 brings.
Next Up…
- Learn the Do’s and Don’ts of Moving Abroad and Starting a New Life
- Learn 10 Strategies to Afford Full-Time Travel
- Learn the Pros and Cons of Living in Thailand After 16 Months
Pin this post for later below!
