Whether you decide to enjoy your time by the beach or spend time shopping in the city, retiring abroad can be the adventure of a lifetime. But are your finances ready? From exchange rates to long-term healthcare costs, here’s everything you need to consider.

For many affluent individuals, retirement is evolving beyond the traditional image of settling in one place for a quiet life. Today, it’s about embracing a dynamic lifestyle. Retirement abroad unlocks doors to experiences that blend lifestyle aspirations, cultural enrichment, and family connection.

But while the dream of a borderless retirement is alluring, it comes with practical realities. HSBC’s recent Quality of Life special report: The Rise of Multi Retirements¹ reveals that nearly half of affluent individuals globally are rethinking retirement as more than a single chapter. Instead, they’re envisioning it as a series of “mini retirements”. These planned breaks—typically lasting 6 to 12 months—offer people the chance to travel, reconnect with loved ones, or focus on personal well-being before transitioning back into work or other endeavours. In Singapore, the appetite for multi-retirement approach is strong. 49% of affluent individuals in Singapore are considering this path¹, driven primarily by the desire to travel and explore new places and cultures without the constraints of standard holidays. Yet confidence in financing these intermittent breaks lags behind global levels. While 74% of affluent individuals worldwide feel secure in funding multi-retirements, only 62% of Singaporean respondents share that optimism. This confidence gap highlights the importance of flexible, well-structured financial planning that can support borderless living – from managing currency exposure and preserving wealth across geographies to ensuring access to quality healthcare.

Envisioning your retirement abroad

Retirement abroad can look different for everyone—from a villa by the ocean to running a passion project like a farm or a cafe, or simply spending more time with loved ones. The HSBC Quality of Life special report¹ reveals that 87% of individuals who have already taken a mini retirement reported a positive impact on their quality of life. For Singaporeans, these aspirations are driven by three key motivators: unrestricted travel (37%), quality time with family (37%), and a focus on personal well-being (36%).

This shift highlights that retirement today is no longer about stepping back from life—it’s about living fully, with purpose and freedom. But the price tag for these dreams varies significantly by destination and lifestyle. Beyond considering the destination, plan for ongoing expenses such as day-to-day living, healthcare and the resources required to sustain your chosen lifestyle.

For Singaporeans, the financial benchmark for retirement is high. According to HSBC Affluent Investor Snapshot 2025², respondents in Singapore estimate they will need an average of USD 1.39 million to retire comfortably—substantially above the global average of USD 1.05 million. This not only reflects the cost of maintaining a desired standard of living but also the careful planning required to manage finances across borders and currencies.
 

Building a resilient and flexible plan

Without a robust financial plan in place, even the most exciting lifestyle aspirations can outpace resources. Retiring abroad is more than a lifestyle choice; it’s a financial journey that requires careful preparation. You need a financial plan that is both resilient and adaptable. When building that plan, here’s what to keep in mind:

• Currency fluctuations: Exchange rates can significantly impact your spending power abroad. For example, living in a country with a weaker currency compared to the Singapore dollar may stretch your retirement savings further—but the reverse can quickly erode your resources.
• Healthcare and insurance: Access to quality healthcare is a key consideration, especially if you’re retiring to a destination with different standards or systems. In some countries, private healthcare can be affordable but may not match the standards you are used to in Singapore. For globally mobile individuals, solutions that allow for seamless cross-border claims and access to top hospitals worldwide are invaluable. Therefore, it’s essential to factor in health insurance that covers you globally.
• Cost of living differences: While some destinations boast a lower cost of living, be sure to evaluate the full picture. Essentials such as groceries, utilities, and transportation can vary widely, and lifestyle choices like dining out or travel may still add up.
• Tax implications: Residency rules, inheritance taxes, estate duties, and capital gains taxes differ significantly across jurisdictions. If you have assets in Singapore, investments in the US, and a property in Europe, you may face a complex web of tax obligations. Strategic wealth structuring is essential to preserve your assets and ensure your succession plans remain intact.
• Infrastructure and access: Remote or less-developed destinations can feel like paradise at first, but limited infrastructure or access to essentials like international airports, reliable internet, or schools (if you’re relocating with family) can become challenging over time.

The role of stronger currencies in your retirement plan

When planning for retirement abroad, currency considerations can play a pivotal role in safeguarding your lifestyle. Exchange rates fluctuate, inflation evolves, and what feels like financial security today can shift tomorrow. This is why anchoring part of your wealth in stronger, more stable currencies—like SGD or USD—can be a smart hedge against uncertainty.

By holding wealth in robust currencies, you can unlock three key advantages:

• Stability: Currencies like SGD and USD are more resilient to global shocks, helping you preserve purchasing power for significant expenses like healthcare or property investments.
• Flexibility: The USD is widely accepted across the globe, while the SGD’s steady performance makes it an excellent anchor for those maintaining roots in Singapore.
• Confidence: With a portion of your portfolio insulated from volatile exchange rate swings, you can focus less on market fluctuations and more on enjoying your retirement vision.

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This advertisement has not been reviewed by the Monetary Authority of Singapore. Information is correct as at 22 October 2025.