For some retirement means living where they live, but working less or not at all. For others, moving to that small town discovered, or even lived in, years ago is the retirement dream. Others want to be within hailing distance of the grandkids. You see, retirement is like happiness at any stage in life, because it means a different thing to everyone. For some Americans, retirement plans are ambitious ones, since they are intent on retiring abroad.
There are many ways of funding an overseas retirement, but the easiest way is to be independently wealthy. What, you already knew that one, but you aren’t rich? Okay, we just needed to clear that one up first. Massive riches are not the only avenue to retiring abroad. A side gig will help. Here are some ways American expatriates have found to fund retirement.
1) Dog Walking: This may sound like we’re starting off in Sillyville, but hear us out. If you have chosen an urban environment in a place like Panama or Italy you’ve seen professional dog walkers walking up the sidewalk with their canine charges leashed. Those folks don’t own four Pyrenean Shepherds, and two Bernese Mountain Dogs! They’re out in the fresh air making good money walking them!
2) Open a Franchise: Many companies with whom you are already familiar are opening franchises in other countries. These include Mailboxes Etc. who just opened 20,000 franchises in Central and South America and want to open at least that many more. The nice thing about running a franchise is that the head office will help guide you through the process.
3) Consider Being a Tour Guide: The advantage you will have over tourists who come to your new town a month after you is that you’ll already know more about it than will they. Are you a curious sort? Do you enjoy talking to visitors and tourists about your town right now? Answer yes to both, and you will be a sought-after tour guide in your retirement town or city.
4) Write About Your Experiences: Start a blog about the sights, sounds, tastes, and smells in your new town and they will sound terribly exotic to an American reader. You won’t get paid…at first. But, get your stuff out there, and someone may offer you a paid gig.
5) Continue to Do What You Do, Only Part-Time: The expatriate community is large and growing. An English-speaking someone in coastal Chile (is there any other kind of Chile?) just discovered a leak in his roof. Oh, you were a roofer before retiring abroad? Connect with each other, and find out the homeowner with the damp floor knows other people like himself. Bango, there’s your part-time income!
“Okay, I understand, but do you have a really dummy-proof side gig idea for me to make a little money during my retirement? I mean something even a lazy beach bum could try and succeed?”
6) Open a Beachside Bar: Money Examiners doesn’t know the last person who failed at selling drinks to tourists. Low initial cost makes entry into the beach bartending business really easy. Keep the drinks reasonably priced and the atmosphere airy, fun and casual. Promote your new place on Facebook and Twitter and clear $2,500 to $3,500 a month. All the while, you’re enjoying the ocean breeze, and listening to tourists tell tall tales to impress the leggy bronze beauty on the beach.