Overseas retirees 'should plan their finances'
People who are thinking of spending their retirement years overseas have been urged to plan their finances first.
Age Concern said that long-term financial planning was "essential" for retirees who were considering relocating to another country.
The charity stated that people living abroad had to take factors such as the cost of living abroad into account when preparing for the future.
A spokesperson for Age Concern commented: "Retiring to another country is very different from holidaying there.
"The key to a successful move is to know what to expect."
She added that people had to carry out thorough research of their chosen destination before relocating in order to identify the potential advantages and pitfalls of moving there permanently.
In addition, retirees were urged to consider issues such as how they would cope if they suffered health problems abroad.
According to a survey by Saga, Spain and France are the two most popular destinations among those thinking of retiring overseas.
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