Can you get the med care you require? Before retiring to Spain, it is essential for you to plan for old age whilst you still may be fit and fine. Bare in mind, most of your insurance policies will not cover outside of the UK since it’s no more a part of the European Union. This means to consider any healthcare option you may be in need. About 60% of the hospitals are privately owned whilst the rest belong to the Spanish National Health. However, here comes the good news – the number of doctors are 4.9 for every 1000 in comparison to UK’s low 2.8. In order to have free access to the healthcare system, it is necessary to pay into the social security system. Although it is well renowned, most expats choose to rather private insurance to avoid long queue time.
After sorting out the healthcare options, it is essential to make sure you are in fact in a decent financial situation before you immigrate. Studies have proven that the average person needs a pension of £600,000 to live a comfortable lifestyle. Of course as an expat, you would have to spend additionally on medical insurance, which we have already discussed. There’s been some changes in exchange rate ever since Brexit, so it is better off to ensure you won’t fall short.
Understanding many expats are on retirement, they still manage to make pennies in their spare time. For instance, a lot of Brits rent out their property as a holiday home whilst they’re not available.
Just like moving to any other country, the changes in lifestyle are to be expected. Along with the cheaper prices across the board when we are talking about living cost in Spain, there’s also the change in lifestyle that will take a turn naturally when you move to Spain for retirement – which means you are more inclined to spend a lot less on a daily basis. What plays a big role in this? That’s right, it’s again the beautiful weather and a laid back and safe way of life. If you are thinking about things to do in the UK, you usually end up going to shopping, cinema or any form of activity which typically ends up costing money. Contrary to this, living in Spain means you are more likely to go on a long walk, spending time in sunshine, or spending evenings having barbeques instead of costly meals.
If you decide to spend your retirement in Spain, then it goes without saying you will need a place to live – unless you have family or friends already set up there. Now in Spain, it’s not all expensive whether you decide to purchase or rent. If you decide to live in the city centre, it’s estimated to cost you almost half as much you would pay for in the UK. If you’re going the village/town route, then the chances are they are much cheaper than you’d expect.
Yes, it is a legit disadvantage if you’re not well versed with Spanish. If you are immigrating to a non-English speaking country where you don’t know the language, then it can sure create problems. It’s also quite a struggle when you are 60 and can’t pick a language. Hence, it is best advised to consider having a language specialist by your side at least until you get the grasp. However, there are people who speak fluent English although it isn’t the official language – usually the youngsters.