Retiring Overseas: Wisdom from Nancy Nelson

June 6, 2025 - Retirement marks the beginning of a new and exciting chapter in life. For some, that chapter includes exploring foreign shores and embracing new cultures. In a candid and thoughtful interview, Nancy Nelson—a seasoned expat and retirement lifestyle expert—shares her journey and advice for those considering retiring abroad.

With decades of experience and firsthand knowledge of international living, Nancy’s guidance is both practical and inspiring. Whether you’re actively planning a move overseas or simply curious about the possibility, her insights provide an invaluable foundation.

Why Retire Overseas?

Nancy begins by exploring the motivations behind retiring abroad. For many, it's about more than just a change of scenery—it's a strategic decision rooted in personal values, lifestyle goals, and financial prudence.

Common Motivations:

Lower Cost of Living: Countries in Latin America, Southeast Asia, and parts of Europe offer a high quality of life at a fraction of U.S. costs.

Adventure and Travel: Many retirees are energized by the opportunity to explore the world and immerse themselves in new cultures.

Accessible Healthcare: In several popular expat destinations, healthcare is both affordable and excellent.

Climate and Environment: Warmer weather, natural beauty, and slower-paced lifestyles can significantly enhance one’s well-being in retirement.

Financial Planning: Your Safety Net

Nancy emphasizes that moving overseas requires thoughtful financial planning. Unlike domestic retirement, living abroad introduces additional variables like currency exchange, international banking, and foreign tax regulations.

Key Financial Considerations:

Exchange Rates: Understand how currency fluctuations can affect your income and expenses.

Taxes: Learn about tax treaties, reporting requirements, and how to avoid double taxation.

Budgeting for Big Moves: Factor in relocation costs, visa fees, healthcare, and housing.

Banking: Set up local bank accounts and maintain reliable access to your home-country funds.

She stresses the importance of working with a financial advisor who understands international issues to avoid costly mistakes and ensure your money works for you, no matter where you live.

Cultural Adaptation and Lifestyle

One of Nancy’s most compelling points is that retiring abroad isn’t just a financial decision—it’s a lifestyle change. Adjusting to a new culture takes time, patience, and humility.

Practical Advice from Nancy:

Learn the Language: Even learning basic phrases in the local language can go a long way in building relationships and navigating daily life.

Respect Local Customs: Each country has its own social norms and traditions. Embrace the differences rather than resist them.

Build Community: Seek out both local friendships and expat networks. Staying socially engaged is key to emotional and mental well-being.

Set Realistic Expectations: Life abroad isn’t always idyllic—there will be challenges. But with the right mindset, they become part of the adventure.

Legal and Logistical Essentials

Nancy provides a helpful overview of the legal steps required when moving abroad:

Legal Topics to Understand:

Visas and Residency: Every country has different visa types and requirements. Make sure you choose the right one for long-term stay.

Healthcare Enrollment: Investigate whether you’ll qualify for national healthcare or need private insurance.

Driving and Licenses: Check if your license is valid or needs conversion.

Estate and Inheritance Laws: Understand how local laws affect your estate plan, especially if you own property overseas.

She recommends doing this research well in advance—or hiring a local consultant—to avoid surprises once you've made the move.

How to Choose the Right Destination

Picking a retirement destination is deeply personal. Nancy suggests thinking beyond travel blogs and Instagram feeds to consider:

Safety and Stability: Is the country politically stable and safe for expats?

Proximity to Family: How easy is it to return home for visits or emergencies?

Access to Healthcare: Are good hospitals nearby?

Local Amenities: Can you get the foods, medications, or services you need?

Cultural Fit: Do you resonate with the pace, values, and lifestyle of the country?

Nancy encourages prospective retirees to take scouting trips, rent before buying property, and engage with local expat communities before committing.

Final Thoughts

Nancy’s experience shows that retiring abroad can be one of the most fulfilling decisions you’ll ever make—but it takes courage, curiosity, and planning. Her grounded advice helps future retirees think holistically about the journey ahead—not just the logistics, but the heart behind it.

“Living abroad has its challenges,” Nancy says, “but the rewards—friendships, new perspectives, a slower pace of life—make it worth it.”

Thinking about retiring overseas?
We can help you evaluate your options and plan financially for a seamless transition. Schedule a consultation with one of our advisors today.