Retirement Planning

The dream of retiring in Spain has been realised by tens of thousands of foreign pensioners in recent years.

It’s a relatively new phenomenon which would have been unthinkable before the advent of cheap charter flights in the1960s. Spain opened its doors to the masses and the masses fell in love with the place – a Utopia of sun, sand, cheap wine and a laid back lifestyle rarely found in cold northern climes.

Mass tourism has made Spain highly accessible and these days British pensioners are just as likely to retire to the Costa del Sol as they are to head off to a rural retreat in their homeland. Remembering those idyllic sunshine holidays on the costas, many retired couples can’t wait to transform their annual summer break into a permanent way of life.

And for many pensioners retiring abroad turns out to be the perfect antidote to years of stress and hard work in a depressing climate. They drift blissfully through their twilight years organising poolside barbecues, eating out in absurdly cheap restaurants and playing year-round golf in the sunshine.

But the story doesn’t end quite so happily for large numbers of retired couples who find themselves racked with homesickness, struggling on pensions affected by constant exchange rate fluctuations or plagued by ill health with no English-speaking medic for miles around.

Those who return to their native land after an abortive attempt at retiring to Spain are usually the first to admit that they failed to think the whole project through and conduct thorough research in advance of moving abroad.

Homesickness is one of the main reasons why retired couples fail to settle well into their new lives in Spain and it seems to affect far more women than men. The children may have fled the nest but when grandchildren come along it’s the natural instinct of most women to want to be there to see them grow up. The woman starts to pine and insist on an ever increasing number of visits back “home”, her husband gets increasingly irritated (and worried about the cost), the relationship becomes increasingly strained…and in many cases falls apart at the seams. So, if you’re moving as a couple and leaving close family behind, it’s vital to think long and hard about how you’re both going to cope with this particular problem.

Then there are all the practical matters to be taken care of – maybe you’ll want your pension to be sent directly to Spain, you’ll need to apply for a resident’s permit shortly after your arrival and if you have property or other assets in Spain it’s advisable to arrange a Spanish will.

Perhaps most importantly of all it’s crucial to think and talk about the possibility of one or both of you becoming seriously ill or even dying in the not too distant future. If you have an existing medical condition you’ll need to check that the medications, treatments and services you’re used to receiving at home will all be available locally in Spain. Is your new Spanish home close to all the facilities you may need such as a doctor’s surgery, pharmacy and hospital? If you both find yourselves unable to drive in future, will you be able to reach these facilities by public transport?

It’s a fact that men tend to die at a younger age than women and many women of retirement age now are several years younger than their husbands. That means women are often left widowed in Spain, usually unable to speak the language fluently and frequently unable to drive. Have you considered this happening to you? And have you thought through how you’d cope?

These kinds of questions might seem too morbid to ask. But it’s best to ask them and find the answers before you head off to a new life in the sun rather than wait until the dream turns into a nightmare.

8 good reasons to retire to Spain

Retiring to Spain is now more popular than ever – and, for many people, the reasons to do so just get stronger and stronger.

1) Spain understands the needs of Expats
No other country in the world has over 40 years of experience in delivering a wide range of property and leisure services to the British market – from the early days of the package holiday to the boom in more recent private freehold ownership.

2) Fantastic Climate all Year Around
The Spanish climate, particularly in the south, is hot in summer and warm in winter with the Costa del Sol having over 320 days of sunshine a year.

3) Travel is Cheap for your and your Family
Getting to the Costa’s, in particular, to enjoy the great weather has never been easier or cheaper with regular daily flights from many airports in the UK. This is a boom not only for those retiring to Spain but also great for friends and family coming out to visit.

4) Excellent Transport Links
The many years of European Union and local government investment in Spain mean that, upon your arrival, modern, efficient airport terminals are there to receive you. The roads to convey you to your accommodation and on your travels are pretty good too!

5) Modern, efficient hospitals and services
Hospitals, Schools and other essential civic services have all also seen significant investment, particularly in up market areas like the Costa del Sol.

6) Your Money goes further
Living in Spain is also a pleasure with many everyday living expenses far lower than you would find in the UK. Eating out is a way of life, affordable and outdoors. There are so many restaurants you really are spoilt for choice with traditional Spanish food sitting alongside traditional English – including Chinese and Indian!

7) 750,000 British people own a home in Spain
Estimates vary as to the number of Brits owning a property in Spain, but it is generally agreed to be around 750,000 and rising. About half this number is considered to now live permanently in Spain – many in retirement.

8) Retirement should be one of the best times of your life!
The concept of Retirement often means something different these days. We are certainly getting ‘older later’ and when rid of the shackles of mortgages, jobs and immediate duties to our children, we often re-visit the things we did in our youth (or wanted to do!), but just could not find the time or the money. 

A healthy approach to retirement certainly seems a sensible way to enjoy yourself and this has started to be recognized by some property developers.

A full guide to the best retirement resorts in Spain

Article by http://www.spanish-living.com