In recent years, many Americans have moved overseas to retire, to countries like Mexico, Malaysia, Costa Rica, and Portugal, since the cost of living can be half of what it is in the United States.

But moving abroad comes with its own unique hurdles and things you’ll need to think carefully about: do you rent or buy a house? What about your social security payments? What type of credit card should you get (you definitely want to avoid those foreign transaction fees)? What about healthcare? 

Retiring abroad can be very beneficial, from cost savings to living a healthier lifestyle. But you must be up for a challenge, as you’ll be immersing yourself into an entirely new culture.

Personal Finance 101 is a video series that aims to help you take control of your money. It’s hosted by Zacks Editor Madeleine Johnson, and covers a wide range of personal finance related topics. To watch more video content from Zacks, subscribe to Zacks Investment News today!

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