Expats advised to research before retiring overseas

Britons planning to head abroad for their retirement have been advised to do their research first.

There are several things people should consider before leaving the country, one of which is value for money offered by exchange rates, said ShelterOffshore.com.

According to the website, the cost of living in eastern Europe or Latin America is far lower when compared with the UK.

Sterling has been volatile over the last 12 months as a result of the credit crunch and subsequent financial crisis.

However, the site said that although the sterling is not as strong as it once was there are several countries where the exchange rate will be in favour of Britons.

"Do your cost of living research – find out where the money you have will actually buy you more in real terms," ShelterOffshore.com recommended.

"Then factor in favourable currency conversion rates through FX brokers and the fact that one day the pound will bounce back, and down the line, your affordable life could become even more affordable."

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Posted by Sarah Pitton