The best reasons to retire overseas have nothin
The best reasons to retire overseas have nothing to do with saving money, although that is often a side-benefit.
Nor do they have to do with moving from a horrible, frigid climate (like Canada, my home country) to a beautiful place that is warm and sunny 12 months a year (Panama), although, again, that is a side-benefit.
Nor is the slower, more relaxed pace of life (in places like Panama) one of the most important reasons for moving overseas, although it is definitely a selling point.
No, the main reasons you should consider retiring overseas are different, and may surprise you:
You have probably lived all your life in the same country, indeed the same state or province, or city. This is a big world. Learn more about it. Expand your horizons. Move somewhere new and discover what it is like to adapt to a different culture. Stretch your mental universe. You will learn lots about your new country -- and about yourself.
If you come from a wealthy and well-organized city like Toronto, as I do, you will be shocked at all of the unmet needs in poorer regions such as Panama. You will see starving dogs on the roads. You will see impoverished indigenous peoples in the countryside, often living in dirt-floor shacks with leaky, thatched roofs. You can react in two ways to these sights: either 1) feel appalled or 2) think of them as opportunities to do something useful with your life, as opportunities to make a contribution. You will be amazed at how much better you will feel about your own life when you start to make a positive contribution to others.