Retiring Overseas: Wisdom from Nancy Nelson
July 1, 2025 - Retirement is the start of a new chapter—and for some, that chapter includes a passport and a plane ticket. Whether it’s the pull of adventure, a slower pace of life, or a better bang for your buck, more Americans are exploring what it means to retire overseas.
To get a clearer picture of what that really looks like, we sat down with Nancy Nelson. She’s an experienced expat and a retirement lifestyle expert who’s spent years helping others navigate life abroad. Her advice is a mix of big-picture perspective and practical how-to—perfect if you're thinking about taking your retirement global.
Why Some Retirees Head Overseas
For many people, moving abroad in retirement isn’t just about palm trees or tapas—it’s about designing a life that feels more aligned. Nancy says that most retirees she talks to are drawn by a mix of personal values, lifestyle preferences, and financial strategy.
Here are a few common reasons people make the leap:
Lower cost of living: Some countries offer a comfortable lifestyle for a lot less than it costs in the U.S.
A sense of adventure: Exploring new cultures and places keeps things exciting—and fulfilling.
Affordable healthcare: In many countries, medical care is excellent and reasonably priced.
Better climate and environment: Whether it’s ocean breezes or mountain air, many retirees just want to feel better year-round.
The Money Side: What to Plan For
Nancy is quick to point out that moving overseas changes the financial picture in a few important ways. Currency exchange, foreign banking, and international tax rules all add a layer of complexity. But with the right preparation, it’s manageable.
Here are a few things to keep in mind:
Exchange rates: Your dollar might go further—or not. It's important to plan for currency swings.
Taxes: U.S. citizens still need to file taxes, even when living abroad. Some countries also tax foreign income. Know what you’re signing up for.
Big move costs: Think relocation expenses, visas, healthcare coverage, and maybe even legal help.
Banking: Make sure you can access your money easily and securely from wherever you’re living.
Her biggest tip? Work with a financial advisor who understands international living. It can save you time, money, and stress in the long run.
Adjusting to a New Culture
Moving abroad isn’t just about packing your bags—it’s also about shifting your mindset. Nancy says it takes time (and some grace) to really settle in and feel at home in a new country.
Here’s some of her practical advice for easing the transition:
Learn the basics of the language. You don’t need to be fluent, but simple greetings and phrases go a long way.
Be open to new norms. Different cultures do things differently—respect and curiosity make the adjustment easier.
Find your people. Expat groups, local friends, and even a friendly shopkeeper can help you feel less isolated.
Don’t romanticize everything. Life overseas comes with everyday ups and downs, just like home. That’s normal—and okay.
Legal Details You’ll Want to Handle Early
There’s also a short but important list of legal and logistical things to think about before you move:
Visas and residency: Requirements vary widely. Make sure you understand what’s needed for a long-term stay.
Healthcare: Will you qualify for the country’s national system or need private insurance?
Driving: Check whether your U.S. license will be accepted or if you’ll need a local one.
Estate planning: Local inheritance laws can be very different. If you own property or assets abroad, update your estate documents accordingly.
Nancy recommends getting clarity on these topics early. Even better, find a local advisor who can help you navigate the specifics.
How to Choose the Right Place
Nancy believes choosing a destination is more than just Googling “best places to retire.” It’s a personal decision, and the right spot will depend on your priorities.
Here are some of the questions she suggests asking:
Is the country politically and economically stable?
How far is it from family, and how easy is it to visit?
What’s the healthcare system like?
Are there local amenities that matter to you—grocery stores, pharmacies, fitness studios?
Do you feel like you’d fit into the local culture?
Before you commit, Nancy recommends taking a test run: rent a place for a few months, talk to locals and other expats, and give yourself space to explore without pressure.
Final Thoughts
Retiring abroad isn’t just a financial decision—it’s a life decision. Nancy’s years of experience show that, while it does take courage and planning, the rewards can be huge: new friendships, a fresh perspective, and a lifestyle that truly feels your own.
“Living abroad has its challenges,” she says, “but the rewards—friendships, new perspectives, a slower pace of life—make it worth it.”
If you’re starting to imagine what retirement could look like beyond U.S. borders, we’d be happy to help you think through the financial side and make a plan that fits your life. Schedule a call with one of our financial advisors today.