The pound has been the real victim of Britain’s recession. It has been hammered by other currencies, chipped away at by currency traders and basically totally undermined by the grim state of the UK’s economy. No one, internationally speaking, has any faith in the pound and so it has reached an all time low next to currencies such as the euro and even the dollar.

This has made it especially hard for those overseas retirees who have already made their move abroad to any of the favourite European hotspots such as Spain or Cyprus. Where once the pound rode high against the euro and made retiring abroad within the eurozone affordable - if not cheap - nowadays a fixed pension income is hugely restricted.

This fact is likely to never be far from a would-be expat retirees mind…particularly when they’re thinking long and hard about where in the world they should be moving to live if they want a comfortable and enjoyable retirement. So, we thought we’d take some time out and focus on where your pension income will perhaps go further when you retire abroad. This report may be of particular use to those still searching for the right country to move to.

Turkey - Turkey is a very interesting nation to consider if you’re looking for a decent quality of life and an affordable cost of living. Prices have risen since the country has become increasingly popular as a tourism destination – but step away from the madding crowds in the summer holiday resorts and you can live exceptionally cheaply. Looking at the Turkish people as an indicator of wealth and affordability, you will see that away from the most affluent centres in the most affluent cities, Turks are poor, relatively speaking. That’s not to be patronising or disrespectful, it’s simply a comment on the relative value of a person’s wealth in the nation. It shows that one can still live well in Turkey on less – as long as one chooses their new community carefully.

If you move to live in Dalaman, Alanya or Antalya and buy a villa with a pool, shop at the international supermarket and socialise with fellow Britons at bars and restaurants every day and night you can expect your pension income to be eroded relatively quickly. If on the other hand you find a lesser explored and exploited town, village or community and you are careful about what you buy in terms of real estate, taking your time to get to know what’s a bargain, what’s a rip off, what’s a no-go and what would make an ideal home perhaps with a little TLC, you shop at the market and your socialising is on a par with that which you enjoyed in the UK, you can live very comfortably and very well in Turkey.

Argentina - Argentina is a nation beginning to gain greater awareness amongst Americans seeking an affordable and fabulous place to retire abroad, but with us Britons it is still a country lesser explored and even less discussed. There are those who acutely remember the tough times between Britain and Argentina, and naturally enough, for people affected by that event, Argentina is not worth a thought. But for others, for those who are perhaps searching for a truly emerging nation with massive potential, Argentina is a great choice.

The cost of living is cheap, the cost of real estate is incredibly cheap, and the way of life and standard of living are excellent. You will have to learn to speak Spanish if you want to thrive however – but once you have, the rewards could be huge. For your three bed semi in some town in the UK you could buy a ranch and have horses, you could buy a small vineyard or just set yourself up very comfortably within a community where there are increasing numbers of expats.

Bulgaria - For a short while ahead of its accession to the EU, Bulgaria was the flavour of the day with property investors looking for a new pocket of potential. They exploited Bulgaria to the point of no return, and then walked away in disgust the moment things became slightly more difficult. And yet, the fundamentals on which they were basing their property investments haven’t all changed…Bulgaria remains a beautiful country. It has beaches and ski resorts, history and culture. It also has an improving standard of living, a slowly strengthening economic and political landscape, and it is home to a strong pocket of British and Irish expatriates.

Bulgaria is a relatively short hop from the UK as well, which can make it a popular choice for those who want to stay in touch with family and friends easily…and it is a country where your pension may indeed take you further.

Thailand - Thailand is a very mixed bag on many levels! You have horrible tourism ghettoes and expensive city locations – but at the same time you have landscape that make you believe in a paradise on earth, and affordability that will make you disbelieve what you’re hearing when you’re told the cost of something. So, you need to tread carefully if you’re interested in moving to Thailand. You should research the country very carefully indeed, discover where foreigners are most likely to fit in and settle down, learn where you will not get ripped off or perhaps feel unsafe.

Your research should take you to the country for an extended period before you consider relocation, and be prepared because culturally, Thailand is perhaps very different to what you’re used to, and this can be added pressure on those retiring abroad who are already dealing with the ‘normal’ upheavals of such a relocation.

South Africa - South Africa was the order of the day in terms of affordable retirement destinations about 5 or 10 years ago. There were even television programmes that featured a celebrity looking at property for sale in South Africa on the coast because it was so extraordinarily cheap! However, with strengthening political stability and a growing presence on the global economic and business stage, South Africa has grown more affluent, its own currency has strengthened against many others, and it is no longer such a cheap and affordable choice…

That said, it is cheaper than the eurozone for Britons, and it can offer a fantastic standard of living. You have to choose your relocation destination carefully as there are extremely dangerous and violent pockets of the nation. However, South Africa remains a popular choice with some retiring Britons because the way of life available is just so extraordinary. On the one hand you have the exotic experience of being in Africa, a dream of a continent, and on the other hand you can have all the sophistication of living in a first world western nation…

Costa Rica - This is another choice increasing in popularity with our American cousins, but one lesser explored by us Brits. The landscape in Costa Rica is perhaps the most lush and lovely in the world – and the country has 12 climatic zones with the prevailing weather being tropical. Affordability in Costa Rica is a given – particularly if you move away from San Jose. You can afford a stunning home and a lavish existence on a fairly modest British pension. However, Costa Rica is less well developed in some ways than the other countries we have been discussing, so its raw beauty may not be of appeal to everyone – especially those seeking out a comfortable and easy retirement.

Visit Costa Rica before you write it off or plan your relocation there – seeing is believing, and chances are, you’ll know within minutes of your arrival whether you would love or loathe it as your new home nation.

Belize - Belize has all the beauty of Costa Rica, but it is a bit more advanced, developed and some might say, altered! So, you can live in Belize and have the sophistication perhaps lacking in Costa Rica, but you won’t have it so wild, so cheap and so free in Belize either. Maybe Belize is a compromise that works for you, maybe it isn’t. It’s a stunning country with a fantastic climate, for the most part! It is well developed in certain areas, the people are welcoming and infrastructure is improving. It’s also a country popular with expatriate Americans.

Your pension will go further in Belize than in the eurozone as long as you choose your destination well and shop like the locals. You’ll benefit from the fact that you’re not pioneering if you move to Belize, as there are many who have gone before you. This is perhaps the contrast with Costa Rica in that in Costa Rica, you will be cutting your own path.

There is an added incentive to retiring in Belize as well, they have a retired persons programme that, if you’re eligible, can allow you a tax-free lifestyle in retirement. Naturally this can make your pension income go far further. We have an article called ‘Benefits of the Belize Retired Persons’ Incentive Programme’ for those who want to know more.

These are just a handful of nations that we’ve chosen to illustrate the fact that a weak pound needn’t stop you dreaming, planning and making happen your retirement abroad. There are other factors you should keep in mind too – for example, the pound won’t stay weak forever, and with careful currency exchange programmes, you can secure your exchange rate well ahead of perhaps a property purchase abroad as well as your regular transfer of your pension income each month.

Article from: www.shelteroffshore.com