There’s a good reason why Australians, Americans, New Zealanders and Canadians speak English. It’s not the winters in the UK that gets you dreaming about moving abroad – it’s the muffled summers, the endless cloud and the grey.
An Italian friend calls Britain ‘The Rock’. From a continental perspective, the UK is a lump of offshore stone, blasted by wind and waves and with all the weather you’d expect from that.
But moving abroad isn’t just about sun seeking. The world is smaller, interconnected, and globalised – yet with very different costs of living in its different corners. If you can earn (or a retire on) a UK income yet reside in a far-flung land, your money can go much further.
Who should consider moving abroad?
Moving abroad is an especially tempting idea for young people in the UK. Priced out of the UK property market and Internet-savvy, smart twenty-somethings who missed their chance with London property could instead try their luck in Lisbon, Bucharest, or Buenos Aires.
With final salary pension schemes closed to them, moving abroad to avoid taxes and invest hard in faster-growing markets has to be worth considering.
Older people with a decent freedom fund or a UK-based income stream are also moving abroad, too. Retiring Brits have been fleeing to Spain for two decades, but you see more adventurous expats in the US, where boatloads of baby boomers are taking their dollars and their love of good service to Central America and South East Asia.
Perhaps the hardest time of life to move abroad is middle-aged with kids. I’m not sure the upheaval is generally healthy for either generation.
Moving abroad is a mental trip
Moving abroad appeals to me financially, but also in terms of the sheer experience of it.
Yet like so many I’ve been rather timid, and found excuses to put it off – that I’m the wrong age, or that I’ll move when I don’t need to work, or that I can’t move due to my father’s health.
The latter is partly true, but as I currently earn most of my money as a freelance and have recently become single and un-tethered again, I’m feeling it may be now-(ish) or never. Otherwise I’m likely to stumble into either a job or another lovely lady, and the window will pass.
Clearly, moving abroad is as much about your mentality as visas or new vistas.
Some useful sites on overseas living
As is obvious, I’m no expert on moving abroad and there’s a bewildering amount to research. It’s one thing to go on a gap year, but another to look to live as a citizen in a new country.
Here are some good resources to get you started if you’re curious:
Escape Artist – There’s masses of information on this site on living, working and investing abroad. It’s written from a somewhat self-reliant angle, tinged by paranoia. “Where can you ride out the financial storm? Where’s best to bury your gold?” If it’s all too much then check out its huge list of country-specific moving abroad blogs and websites.
Local Independent Living – For Internet-enabled professionals who want to live wherever they choose while making an online living.
Everything Everywhere – In 2007 Gary Arndt set off to travel the world. He’s never looked back, but he has blogged almost every day of his journey.
Foreign and Commonwealth Office – Moving abroad has financial and legal ramifications for UK citizens. The official government website is the obvious place to start your research.
DirectGov – Another government site, with advice on everything from exporting your vehicle to cultural awareness.
Global property guide – One of several sites that looks at the investment potential of different countries. I’m not sure of the reliability of this site over any other one, but I do suggest you consider the property climate of wherever you consider moving to. The Australian property bubble is even bigger than the over-valuation in the UK, for instance. You don’t want to jump from the frying pan and onto the barbie.
Will I make the move? If my investment income were twice what I’m currently generating, I’d set off this winter. If this blog ever pays more than fun money, I’ll consider it, too.
As it is, I suspect I’m just too risk-averse. I don’t feel financially secure enough yet to start again in my mid-30s elsewhere.
But with one blogging buddy living in Hawaii on less than $1,000 a month, I recognise money is an excuse, not a reason. So watch this space!
If you’ve any practical advice on moving abroad, please share it below.
would be a shame to lose you, but you’re probably in a good time of life to do this. You have accumulated capital in £, but are earning with plenty of time ot go. So unlike starting out, you have cash behind you to ease the beginning, because it will take time to adjust to the culture. You will be earning and saving in the new country’s currency which gives you some protection aginst the hammering that many retired expats took when the pound dropped.
It seems to be the human connections and the web of life that makes things work out or not for expats. Too many connections to people in the UK and it seems the financial arguments don’t outweigh them, but people that make and hold new connections flourish and have a great time.
I know people in both camps, and this seems to be the factor that makes it stick or not. Most made the move between 30 and 40, though none had kids. Being single, curiously enough, seemed to help, though I’d have thought going as a couple would make the transition easier.
.-= ermine on: the bearish argument ALWAYS sounds smarter =-.
Interesting thoughts, cheers. To be clear, if I moved I wouldn’t stop Monevator. Quite the opposite I’d hope!
The option that most appeals is the wandering global vagabond approach for a year or two. I suppose you do that, and then see how you like it out there.
The second most appealing option is somewhere fairly straightforward like the quieter parts of the Baelerics. If I became untethered I’d certainly over-winter in Ibiza or Majorca. Love them, much misunderstood by Brits.
Hi – great article. You touch on two great factors that people should consider when thinking about moving abroad – or not, who should consider it and the importance of having the right mentality.
As a person in my forties(middle aged – Aghh!) with two young children who has moved around abroad a number of times I probably wouldn’t agree with your generalisation that it is not healthy for either – it’s been great! But I do agree that it is something people need to think hard about – what are they wanting to achieve from a move abroad and how will they cope with leaving behind all that they love and is familiar. Financial considerations are also of importance – you make good points about money going further in other locations, plus taking a view about the housing market etc.
A choice to move abroad needs to be well considered and I am holding a Teleseminar on exactly this subject next thurs – 24th June – http://www.expatdecisions.com. FREE and full of info re the challenges and the things to consider in working towards making the decision to move abroad – OR not!
Just stumbled on a tweet and this site. Keep up the good work some great articles.! All the best, Louise
Interesting thoughts. Especially about the younger crowd. Because of the internet, living abroad while you are younger is getting easier. But government restrictions are at the same time making it tougher.
I say everyone should go for it. If you don’t like it, your home country and old life are always there waiting for you.
Now is a good time, but don’t count yourself out too soon. I had long harboured the desire to live and work outside the UK, but it was not until I hit 50 that I made the move. After 10 rewarding (in all senses) years in California, I’m now contemplating my next move – somewhere warm and sunny in Southern Europe, most likely.
There’s a certain ‘stretch’ of one’s outlook, experience, psyche and social extension that I believe can only be experienced by living away from your native culture. I highly recommend it – whether it’s now, or later, but not never!
I live in Egypt and earn my income from the web…. If you want to work in a corporate environment there are tons of jobs for English speakers here with salaries competitive to back home…. But you live like a king on those salaries here….
I don’t earn big money but I do just fine here.
If anyone has ANY questions about living in Egypt, give me a shout.
.-= Forest on: Shopping for car insurance is easy when you follow these steps. =-.
Whereabouts do you live in Egypt, Forest? (Cairo?) I’ve thought of Dahab or similar for the diving. I do wonder about anti Western action or sentiments due to our dubious middle east adventures though?
Go only if strongly motivated, because it will be lonely for a year or two unless there’s an expat community to join or you’re fluent in the local language. HMRC has very severe rules, so you need a reputable tax advisor (you can’t come back to the UK for as many visits as you might imagine or they deem you not to have emigrated).
Good luck!
@elizabeth – Thanks for your thoughts. Having recently truly realized the value of close family and friends (after illness in the family) I do take your point to heart, and it’s one reason I’ve been reluctant to move in recent months. Ideally I’d go to a city with a friend installed – not to cramp their style, but to have a jumping off point in the country.
I live out here in South America, Cochabamba in Bolivia, supposedly has some of the best weather in the world, cold last night though! Anyway how much money do you think you really need? Myself and the girlfriend live happily on less than £808 and the majority of that is paid out in rent on the apartment; as I wanted to live in the city centre I’m forking out $450 a month. So if your free and single why don’t you live abroad for 3 months and see if it suits you?
If you want to do the vagabond route, South America would be ideal for you, a lot of the people speak English, you can spend 3 months in each country with no visa worries and there is stacks too see. Also there is internet cafes’ everywhere!
Thanks for your thoughts, Darren. I like the sound of Bolivia! (Have considered Beunas Ares). Most of South America is too scary for me though. 😉
Its so hard trying to make the break – cutting the chord is what it feels like. I’m 26, a US citizen with a cushy job daydreaming of the day I will make the break. I took some measures, moved back home trying to save money and learn how to live on less (while I’m doing all this saving).
I’m just afraid of regret, of not “working” and “saving” at a “pivotal” time in my life. I know these are all just fears and excuses in my mind (the same that fluttered about before skydiving). Sometimes I feel like I’m too old that I should have done this earlier like in college. Which I know I’m in my twenties this is the right time, I’m just afraid I’ll find myself in my 30s irresponsible or financially trouble. But if your constantly preparing when are you going to do it? I’m trying to set a deadline of next year, maybe try to get an investment property in place and then make a run for it.
I just really want to travel freely, maybe even work abroad as a yoga teacher, write before I get married. I’m in a relationship, but I want time to find myself and travelling freely is what I dream of all day long in my cubicle.
I’m jsut caught between responsibility and dream…
Thank you for your comments by the way, I see you too you are struggling with some of the same issues. I feel like I don’t get to read enough of the inital fears and questions one has to deal with before making the break…I just read about the logistics of it all, which is to say the least confusing enough!
.-= Tina on: “The future comes one day at a time” =-.