A few years ago, I wrote about people choosing to retire abroad. This trend is not unique to Bermuda; in fact, a significant percentage of people worldwide are packing their bags and heading to a new promised land for their retirement.

Their reasons vary: lower cost of healthcare, lower cost of living, being closer to grandchildren, cleaner air, a thirst for adventure, or simply a desire for a fresh start.

Everyone’s vision of retirement is slightly different; however, most of us picture our retirement in a beautiful, interesting, and, more importantly, affordable location. Facebook and Instagram seem to have an endless supply of reels promoting retiree programmes and benefits in various countries, adding to the allure of such a move.

In our household, France, Italy, and even the UAE have been thrown into the hat as possible locations for contemplation. Alternatively, we have even been exploring whether Bermuda itself might be a possibility for retirement.

In all honesty, the choices are so overwhelming. For me personally, as the gap between my working career and retirement is now under the ten-year mark, narrowing my search and then completing my research on these locations has become a major priority.

With that said, for the next six weeks, my Saturday editorials will be in the form of a dedicated Retiring Abroad series.

Each instalment will feature an in-depth profile of a potential retirement destination, with every location evaluated against the same consistent criteria and research methodology.

1, Cost of living and financial sustainability

This is a fundamental piece of the decision-making process, and I will explore:

• Daily expenses (groceries, utilities, transport)

• Housing costs (whether renting or buying)

• Property taxes

• The overall tax environment for foreign residents

Essentially, I am trying to determine what your retirement income (pension, savings) would need to be to comfortably cover your desired lifestyle without eroding your capital.

2, Healthcare quality, accessibility and affordability

The reality is that health needs typically increase with age; access to high-quality medical care is non-negotiable. Therefore, I intend to explore:

• The standard of hospitals and doctors

• The access and availability of specialists

• The cost of health insurance (both public and private plans)

• Whether, as a retiree, you are eligible for the local healthcare system

• Long-term care options

3, Climate, environment, and general liveability

This will encompass the day-to-day quality of life, as the physical environment has a direct impact on your health and wellbeing. The areas I will review are:

• Climate

• The cleanliness of the air and water

• The safety and crime levels of the area

• The overall pace of life

4, Visa and legal residency requirements

This is a practical and very critical area; therefore, I will research based upon current laws:

• The specific type of retirement visa programme available and its long-term renewability

• The financial requirements (minimum income or investment)

• Rules regarding property ownership

• Estate laws should you pass away in the country or as a resident of the country

5, Infrastructure, amenities and ease of integration

In this area, I will review the practicalities of daily life:

• Is public transport reliable, or will you need to drive?

• Is the internet fast and reliable?

• Are there familiar amenities like supermarkets, cinemas, and social clubs?

• Is the local culture open to expatriates?

6, Proximity to family, friends and travel links

In this final criterion, I will consider the following:

• Distance from your support network

• How easy and expensive it is for family and friends to visit

• Whether there are good international flight connections from a nearby airport

• Whether you can easily visit many sites or countries within close proximity.

All that said, there are a few important caveats to this series. My research will be guided by my personal retirement objectives and the potential destinations I am genuinely evaluating for my own retirement. Therefore, if you do not see a particular country featured as part of the series, you can correctly presume that I have no intent on retiring there.

Additionally, this research is based upon what I would like to know about these retirement locations. Therefore, it goes without saying that my criteria may not align perfectly with your own.

However, I hope you will find the information helpful and that it will at least guide you, should you also be considering what retirement abroad might look like.

One country you can count on as part of my retirement research is Bermuda. It is important to have a constant to enable comparisons and to analyse the data effectively. The other countries under review, however, I will leave as a surprise for now.

Furthermore, it is important to acknowledge the decision to retire abroad is one of the most significant life choices one can make. It involves not just a change of scenery but a fundamental shift in one's daily life, social structures, and financial planning.

The allure of sunnier climes, a lower cost of living, or a richer cultural tapestry is powerful, but it must be balanced against practical realities.

The emotional aspect of leaving a familiar community and establishing a new one in later life should not be underestimated.

It requires a spirit of adventure, resilience, and a proactive approach to integration. For many, the reward is a more fulfilling, active, and comfortable retirement than they might have experienced at home.

This series aims to dissect that dream and examine it through a pragmatic approach, providing a structured framework for evaluating such a life-altering move.

Ultimately, the goal is to make an informed decision, one that balances dreams with due diligence.

By applying a consistent set of criteria to each potential destination, we can move beyond the glossy social media reels and understand the true, day-to-day reality of retiring in a foreign land.

It is a process of discovery, not just of places, but of one's own priorities and non-negotiables for this next chapter.

If there is a specific topic you would like to know more about, e-mail me at justaskcarla@outlook.com and I will put it on my list.

• Carla Seely has 25 years of experience in the international financial services, wealth management, and insurance industries. During her career, she has obtained several investment licences through the Canadian Securities Institute. She holds the ACSI certification through the Chartered Institute for Securities and Investments (UK), the QAFP designation through FP Canada, and the AINS designation through The Institutes. She also holds an MSc majoring in Business and Management from the University of Essex