Thinking Of Retiring Abroad? Here's The Expense Most Americans Regret When They Move

Many Americans dream of retiring abroad, where they can experience new adventures, a lower cost of living, and the opportunity to explore different cultures, food, and places. However, those who have taken the leap often discover unexpected expenses that can dampen the excitement of their new life abroad. One of the most common and regrettable expenses is shipping personal belongings to the new country.

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Moving to a new country is no small feat, and for many reasons, it seems logical to bring your belongings along to make the transition smoother and still have a piece of home. But, while this decision may be well-intentioned, the cost is usually much greater than just replacing those items once you've moved into your new country. 

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Financial advisor Alex Ingram, who has spent years helping Americans navigate the financial aspects of moving abroad, emphasizes that shipping household items, especially large furniture, can be more trouble than it's worth.

According to Ingram, the logistics of fitting American-sized furniture into smaller European spaces can be challenging. “You can't just pick up everything from your old house and put it into your new house in Europe,” he told NBC News. “It's not going to fit the same way or look and feel the same way.” Beyond space constraints, practical issues like differing electrical plugs and appliance standards can make it impossible to use some items without expensive modifications.

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Many expatriates find it more practical to sell most of their possessions in the U.S. and start fresh in their new country instead of paying costly shipping prices for their belongings. Not only does this save on shipping costs, but it also allows retirees to purchase furniture and appliances that are more suitable for their new homes. 

Many Americans are pleasantly surprised by the affordable furniture and appliances in countries like France, Italy, and Spain. “A new kitchen in Europe is a lot cheaper than it is in the U.S.,” Ingram notes. This affordability makes it easier for retirees to create a comfortable home without the burden of high shipping costs and the potential disappointment of items not fitting or functioning as expected.

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When moving abroad, it's important to have flexible expectations. For instance, retirees should be prepared for smaller living spaces and a slower pace of life in many European countries.

Retirees can make the most of their new life abroad by being open to these changes and embracing cultural differences. “Expect the food to be good. Expect the people to be friendly as long as you treat them with respect,” Ingram advises. He also stresses the importance of adapting to local customs and being patient as they adjust to their new surroundings.

Retiring abroad can be incredibly rewarding, but it's wise to heed the advice of others to save on costly mistakes like shipping all of your belongings. 

If you're considering making a move from the U.S. to a new country in your retirement years, consulting a financial advisor can help you better map out your financial situation so that you're aware of new costs and how far your current savings will take you. 

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