Moving abroad mid 40s

[LadyfromtheBelleEpoque]

Anyone made a huge move like that in their mid to late 40s?

Am thinking of NYC. Have decent work option, am single, no commitments.

I moved the the US at 44 and find the lifestyle and standard of living to be good. Not NYC though as I’m not a city person. Need to think long and hard about retirement plans and finances before committing to staying but also who knows what other opportunities might come up before retirement. (This is not the first major move with this employer so it might well not be the last)

Moving in a pandemic is hard though. No real way to make friends, other than through work, so if you are single that may be something to consider.

What is making you hesitate?

As pp said, what are your retirement plans looking like? Moving overseas as I turned forty, I was immediately aware of my lack of financial planning in three areas - healthcare, post secondary education, and retirement. Coming from the UK, I understood how these worked in the UK and hadn’t given much thought to how I would be expected to fund them overseas. It was a bit of a shock.
Make sure you understand. The older you are when you move, the less years you have to save for retirement. The less years you will have in either country to qualify for any government based benefits.
Healthcare is reasonably straightforward if you have a job with benefits lined up, but beware deductibles.
If your finances are in order and you aren’t concerned about the pandemic, sure. Just do your homework about what effects if it will have on retirement in each scenario first. It didn’t even cross my mind, so we are playing catch-up big time.

Where do you think you want to be elderly?

Thanks. I have a few options and just trying to work out how feasible the US one is. Have good job opportunity there with better salary plus benefits, better savings once everything taken into account. Healthcare is a real factor so am currently reading up on it although job will provide health insurance. Pensions are also something I am looking into.

Thinking post lockdown/late autumn- early Spring next year all depending on where we are with covid.

Think lockdown has really focused me actually - always wanted to go, had a chance years ago with friend who has done spectacularly well out there. Have some family links too in NYC and just feel it is the place to make a new start. Have good tech skills and there is work there.

I want to be sitting in a bar with Fran Lebowitz, putting the world to right when I am elderly. That’s where I want to be.

Your last comment alone makes me think you should do it!
I moved abroad (Europe) just before I was 40. Zero regrets. I’m now looking down the barrel of moving back (redundant)....

Go for it, sounds like a great opportunity

Do think carefully about what it would be like to be elderly wherever you choose to go. What provision there is for the elderly in terms of care / support.

Having said that if you don’t try you might always regret it. We went to NZ in our mid 40s, luckily we went on a temporary basis,, as it turned out life there wasn’t really for us, so we came back to UK.
I would say it’s harder to make friends in your 40s as most people have their established friendship groups and aren’t looking for any more. The only people that ever spoke to me in NZ were the checkout staff when I was buying my groceries 🤷‍♀️

I wouldn’t necessarily be thinking about staying there forever, either.

I have lived in a few different places but that is one place I have always wanted to try and now, I think I will regret it if I don’t. Perhaps just for a few years then I can pick up back here with more money. It’s just an idea atm but I think London is going to be hard for the next few years post Brexit.

Have a feeling New York is a good place to make a new start and look forward to new possibilities which I really need.

Sounds like you are thinking about the right things.
I’m well aware of the fact I probably can’t afford to retire here so that is being factored in.
Also check that the work visa you think you will be able to get is still available. There have been a lot of changes recently.

I would do it but wait a bit till life is a bit more normal. I have a number of friends who moved back to UK mid-covid and said it has been very hard to meet people as people just don't have the bandwidth or inclination to widen their circles at the moment. Kids are ok but they've felt rather lonely.

Also, some advice my friend's mum (army family) gave me which was kind of food for thought was that when contemplating retirement you want to settle somewhere while you can still "pay it forward" in terms of community engagement and any support you'd like to receive in old age, IYSWIM and also, just generally being "fun" to hang out with. Rightly or wrongly, people are more likely to befriend the energetic sixty something than the slightly cranky and infirm eighty year old .

It's in a country that speaks English (so you're not going to need to learn a language), it's multicultural and you have no dependents to be taking care of/prioritising. I'd definitely do that in your position. Go for it!

If that what you want to do, do it OP. Life is way too short for regrets. What’s the worst that can happen? If you don’t love it, you have given it a go, and you move somewhere else. Good luck with whatever decision you make, do what’s right for you.

God all this talk of being elderly etc she’s only in her mid 40s and may be going for a few years!

@MsTSwift

Haha! Am feeling a few creaks and aches though!

I think it is lockdown fever. Have spent a lot of time waiting for life to start and I think it has finally clicked that you have to take the opportunities you can get even when they are not quite perfect.
I don’t know how I got so sidetracked - in my 20s all I wanted to do was travel and explore the world. Work, I think can put you in a small space if you are not careful esp if you don’t have much money in places like London.

God all this talk of being elderly etc she’s only in her mid 40s and may be going for a few years!

True- don't know why I said that- just thought I'd share as I've always thought it's good advice. So many people move when they're already super old.

Lady Agree re you just have to take the chances. I dont expect there will be many "perfect" opportunities for a while.

Sounds like a good opportunity.

Health insurance plans provided through employers are generally reliable. You may well find your healthcare improves once you're in the US. It's the individual policies sold outside of employment that are more likely to have restrictions.

Bear in mind what would happen if you lost your job - you'd lose your visa I assume? You'd be able to keep your health insurance for up to 12 months through COBRA but would no longer receive subsidies from your employer towards the premiums.

Don't worry about pre-existing conditions. Those are now covered since the Affordable Care Act was passed.

Does the position qualify for a visa? Work visas are still “on hold” due to COVID do that will buy you extra thinking time, if it even qualifies (not many jobs do).

I moved here at 42 as the spouse of an American. We bought a house soon after I arrived and I think I’ll be working enough years yo get it paid off and some years to spare.

If you’re a single-person household I’d be very concerned about moving to an at-will state with no back-up plan. At least a couple has a second income to fall back on should the worst happen.

@BritWifeinUSA

Yes, visa available (atm). Will be in 2022 anyway before it all comes through.

I will be going solo but have friends and some family there. I have to sit down and do the sums because (as you say) there is nothing to fall back on over there. I am just thinking it all out atm as I am bored and lockdown has just really focused my thoughts on where my life was going (nowhere , really).