The Retirement Readiness Checklist: Are You Actually Prepared?

By Rohit Singh

Planning for retirement is rarely straightforward, especially for expatriates. Living and working across different countries brings valuable experiences, but also financial complexities that require a clear and well-structured approach.

From managing income across borders to navigating healthcare systems and currency fluctuations, retirement as an expat involves more than just reaching a savings target. It requires a plan that fits your lifestyle, values, and long-term goals. This checklist is designed to help you assess where you are now and take practical steps towards a secure and flexible future.

1. Project Your Future Cost of Living

A solid retirement plan begins with understanding what your lifestyle will actually cost.

Think about where you plan to live. Will you stay where you are, return to your home country, or settle somewhere completely new? Once you have a location in mind, start estimating your key living costs. This includes housing, utilities, insurance, groceries, and transport. Then factor in the things that will make your retirement enjoyable, such as travel, hobbies, or even that wine course you’ve been thinking about.

Keep in mind that spending often rises in the early years of retirement, especially when you’re settling into a new routine or location. Make sure to account for inflation, currency movements, and rising healthcare costs. A realistic budget now can help you avoid unnecessary stress later.

2. Create a Cross-Border Income Strategy

Many expats retire with income from a variety of sources. You might have a pension in one country, investment accounts in another, rental income elsewhere, or contributions to local government schemes such as CPF.

The challenge is that every country has its own tax rules. Some may tax the same income twice if there is no agreement in place. There may also be restrictions on transferring money across borders, or extra steps involved in accessing funds held overseas.

A financial adviser with cross-border expertise can help you organise your income in a way that is tax-efficient and practical. The goal is to ensure your money supports your retirement lifestyle, no matter where you live.

4. Prepare for Healthcare and Long-Term Care

Healthcare is one of the most important aspects of retirement planning, particularly if you’re living abroad.

In many countries, expats are not eligible for public healthcare. That means private insurance is often essential and becomes more expensive with age. It’s worth reviewing your options early to avoid being caught out later. Make sure the cover is suitable for where you live and the type of care you may need.

You should also think ahead. If you need long term care in future, will it be available and affordable where you live? Would you consider moving again for better access? These are difficult questions but addressing them now can help you feel more prepared and in control of your future.

Final Thought

Retirement abroad is full of opportunity, but it also requires thoughtful planning. It’s not just about how much money you have. It’s about knowing where you’ll live, how your income will flow, and how you’ll protect your health and wellbeing.

If you’ve built a life across borders, you’ve already developed the resilience and adaptability that retirement planning requires. This checklist is simply a starting point to help you take stock and act.

The sooner you begin, the more freedom you’ll have to shape a retirement that truly works for you.

Not Sure If Your Retirement Plan Is As Ready As You Are?

It might be time for a chat with a financial adviser who understands the quirks of expat life. Just a friendly, informed conversation to help you get clarity and confidence in your next steps. Because peace of mind in retirement is worth planning for.

General Information Only: The information on this site is of a general nature only. It does not take into account your individual financial situation, objectives or needs. You should consider your own financial position and requirements before making a decision.

*Please note that Rohit Singh is not a tax agent or accountant and none of the content outlined here should be taken as personal advice. You should consult your tax agent and financial adviser to review your current personal finances and financial goals to consider whether this strategy is appropriate for you.