Monday 30th August 2010

Expat Brits are happier retiring abroad

Expat Brits are happy with their decision to retire abroad according to a recent survey by Natwest Bank.

The third annual Natwest International Personal Banking (Natwest IPB) Quality of Life Report has revealed that 71% of retired Brits are happy that they choose to retire abroad and believe that they have made a good decision. Over half of those surveyed, 58%, revealed that their experiences as retired expats have exceeded expectations, while 32% said retirement abroad had met their expectations.

The survey, which interviewed 633 retired expats between October and November 2009, also found that 25% of retired expats stated that their quality of life abroad is excellent and 67% of them believe they are happier living abroad than they would be if they had remained in the United Kingdom.

The Quality of Life study described two different types of retired expat; those who had lived and worked in the United Kingdom for their entire lives prior to retiring abroad; silver expats and those who had lived and worked abroad prior to retiring there; lifer expats. According to the survey "silver expats" are more likely to retire in Europe, while "lifer expats" move further a field to places including New Zealand, the USA and Canada. The results of the survey also revealed that 9 out of 10 of the lifer expats based in Australia, Canada, New Zealand and the USA do not foresee a return home at any point.

Commenting on the survey findings, Dave Isley, Head of NatWest International Personal Banking said: "Our latest UK expatriate study has revealed that retiring abroad is still very much a popular choice and expats are happy with their chosen life paths. It's encouraging to see that the majority of expats believe they made the right decision in retiring abroad and are living their chosen dream.

"Looking at retirees who decide to move abroad, it is enlightening that 92% of expats chose not to retire to a designated expat community. This seems to emphasize the notion that expats have retained a sense of adventure; they really do want to start afresh and experience life as a local rather than settle with other expats. By immersing themselves in a full, enriched life as a local, retired expats can certainly learn and gain more from their time abroad. "

Retiring abroad

If you’re considering moving abroad for your retirement please see our free expat guide to retiring abroad. It contains a wide range of information about retiring overseas together with insights into the best retirement destinations and the lifestyle on offer there.

Read the full article: http://money-news.dailyfinance.co.uk/article/2010/08/26/71_happy_to_be_retried_abroad

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