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 [1] 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 [2] 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 [3] or a UK-based income stream [4] 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 [5].
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 [6] – 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 [7].
Local Independent Living [8] – For Internet-enabled professionals who want to live wherever they choose while making an online living.
Everything Everywhere [9] – 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 [10] – Moving abroad has financial and legal ramifications for UK citizens. The official government website is the obvious place to start your research.
DirectGov [11] – Another government site, with advice on everything from exporting your vehicle to cultural awareness.
Global property guide [12] – 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 [13] 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 [14], 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 [15] 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.