The 3 Most Important Factors When Timing Your Retirement

These are the 3 most important factors when timing your retirement.

The 3 Most Important Factors When Timing Your Retirement

Go When You’re Able… Not When You’re Comfortable

“In my 15 years of living overseas, I’ve never met anybody who hated their new home so much that they packed up and went home,” Latin America Editor Lee Harrison told our bunch of over 400 attendees gathered in Las Vegas last week for our annual Retire Overseas Conference.

“What almost everybody has admitted to me, though,” continued Lee, “is that they wish they had done this sooner… that there are now precious years of their lives wasted that they won’t ever get back.

“So, whether you’re planning to buy a vacation home or move full-time overseas, my advice is do it sooner rather than later. Go when you’re able… not when you’re comfortable. Over-analysis is your worst enemy…

“My parents’ path—in line with that of their generation—was toward financial security. Which translated to working as long as you could—and saving as much as you could. But I started wondering how soon I could possibly live or retire with some level of security and little to no work.

“When I decided to leave Manhattan behind for a new life overseas, I had an average income and average savings—less than some friends and colleagues who were considering the same idea. Fifteen years on, though I’m semi-retired, I’ve racked up more savings than those guys… who are still working away at their desks… waiting for the right moment.

“So the trade-off I took with financial security was worth it for the lifestyle, adventure, and opportunity I got overseas… in places including Ecuador, Brazil, Uruguay, and Colombia.

“In timing your retirement—and doing it as soon as you possibly can—you need to consider three important factors:

“First is your motivation. What are you looking for? Do you want to get into this part time or full time? Are you looking for adventure? A rich cultural experience? A life of more luxury that you couldn’t possibly afford at home?

“Second is finance. The great news is that Social Security goes a long way in many of the places we recommend. US$1,000 to US$1,500 is often enough for a couple to live the good life. Also, turning up with an open mind and a sense of adventure can lead to money-making opportunities you may never have imagined. You can also get creative with your IRA and 401k in ways that will not incur penalties.

“Third is your target destination. Once you have an idea of this, you can come up with a plan. All the dreaming and hypothetical situations go out the window. Now you have everything in focus. For wherever you want to go, there is a known set of requirements. Armed with these, you can make a plan and follow through.

“The ideal spot is, of course, different for everyone,” Lee wrapped up, “and we’ll introduce you to 21 of the best places we’ve uncovered over the next few days. Just be aware that you may—and are allowed to—change your mind…

“At past Retire Overseas Conferences, we’ve had—over the course of a few days—several dozen attendees approach us after workshops to say that they’ve completely changed their minds. One couple may have been dreaming about Mexico before coming—then they’re dead set on Colombia thanks to the exposure at our event.”

Lee’s “Timing Your Retirement” presentation was part of the line-up on Day One of our four-day Retire Overseas Conference. From there we went on to introduce attendees to more on planning the financial side of things… as well as introducing them to each of our top 21 retire-overseas (at any age) havens.

Last week in Vegas was our biggest and best Retire Overseas Conference to date… and we’re still working to package together all the recordings. If you’d like to hear Lee’s full talk—along with every other speaker over the four days of this event… then be sure to grab a copy of our Live and Invest Overseas Home Conference Kit.

As Lee said, the sooner you get started the better. With all this help at hand, there’s no reason to waste another year…

Valentine Fouché
Editor, Live and Invest Overseas Confidential