SECTION 3
It is most likely that you would be more at home during retirement, it would be wise to choose the best possible, country, city, locality and house for your retirement, keeping in mind the following factors;
Consider how important it is for you and your spouse to live close to family and friends. If it is important, then you have limited your choices already to the places where your immediate family and or close friends are living.
If your spouse will continue to work for some years after you retire, then you may have to consider living longer in UAE with less income, and may also have to look out for consulting or freelance income opportunities in the area of your expertise to complement his or her income.
Another important consideration would be to take care of aging parents. it could be really difficult to decide to stay close to your children, or close to your aging parents and or in-laws.
Cost of living in a particular city or town is an important factor to be considered, in order to determine how much money you would need every month during retirement.
“Climate is an important factor to be considered while choosing a favorable retirement destination, harsh winters and sweaty summers are better avoided during old age.
Choosing a city or town with favorable climate throughout the year will help you remain healthy and cheerful.
Availability of good and affordable health care facilities should be considered, before deciding on your retirement destination.
Having lived in UAE for a considerable amount of time; we get used to the safety, infrastructure and the facilities available here, although it is difficult to get similar facilities in our home countries, thanks to rapid global development, infrastructure in many countries is getting better.
Safety and Crime rate in a particular country, city or town should not be overlooked, even if it is your home country.
Remember you are out of your home country for a considerable period of time, during when rapid changes could have happened.
It would be difficult to digest after settling in your hometown, when you realize that you are a stranger there, as people and things have changed a lot.
Availability of affordable and dependable Public Transportation is important and more crucial if you are unable to drive on your own due to old age.”
Staying active in your old age will keep you healthy and independent, so identify if you can live an active lifestyle in the place you are thinking to retire.
Taxes like Wealth Tax, Inheritance Tax, Income Tax and other taxes should be considered while deciding where to retire. Do not shy from obtaining professional help regarding taxation.
Another good factor to consider would be retirement communities, Senior Living or Assisted Living.
Investing in an apartment or independent house can be a prudent investment.