Early Retirement: Moving Overseas
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Q Wealth Report
Learn how to retire early, create wealth overseas, and live a permanent tourist lifestyle with the advisors at the Q Wealth Report.
Picking A Date To Move
In this series we have been discussing how to retire early and move overseas. By now you should have your done your research into your top 3 retirement destinations and are ready to pick the best retirement destination for you and make the move.
This is the time when the intense planning starts. Once you have chosen the official destination for yourself and any family members coming along with you, choose a moving date. A wise man once said that "a goal without a date is only a dream." Make this dream a reality. Once you choose a date, all the months of research and time spent in different countries becomes worth it.
Things To Consider When Moving Abroad
There are now some things that need to be considered. Such as, how are you going to use you’re new home? To figure this out, you need to decide whether you are completely pulling up all roots and moving full time to a new country, or if you are only going to be spending only part of the year there. Whether you are keeping some sort of property back home will effect what you bring with you when you move as well as the kind of visa you will need, which will be discussed in a later step.
Another question to take under consideration is, do you want to ship your household belongings or simply buy new ones once you get there? The latter option is no doubt the easier one. Shipping items to a foreign country can be both exasperating and expensive. Not to mention the fact that your more fragile possessions may not make it to their destination in the pristine condition they left. Also depending on which visa you get, the visa may not allow tax-free importation of your possessions. So you need to decide whether the extra costs are worth having your things shipped over.
To help you decide what to bring, organize your items into three categories. First, things you are going to need right away, second, near-term items that can be shipped, and lastly, goods you can live with out for 6 or so months.
The items that you are going to need right away are the things that you can bring on the plane with you. Keep in mind though, that most airlines now charge extra for more than one checked bag. Since you have spent some time in the country you are moving to, you should be familiar with the basic things you can get at the store. So keep that in mind as you are packing your suitcases because the very basic things like soap and shampoo can always be bought once you arrive.
Near-term items that can be shipped are the items you feel you will need within the first few months. An express carrier can ship these items.
Lastly, there are the goods you can live with out for an extended period of time. Container may ship these items. Therefore it is the voyage through customs that will cause these items to take longer to arrive.
The More You Plan The Happier You Will Be
As you can see, a lot of planning will go into deciding what to bring. The benefit of this planning is that it will, in the end, save you money and frustration. You don’t want to go through all the hassle to send thing and then come to realize you didn’t actually need them after all.
Next up: Setting Up An Overseas Office
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