Everyone sometimes dreams of a better life in a more exotic place, but relatively few of us actually pack up our things, sell our cars, lock up or let our homes perhaps, and take the plunge. Often moving abroad requires a particular catalyst or trigger. Below are our top 5 reasons why Americans move abroad.
This is actually the number one motivation for Americans to make the move abroad, and it's an easy one to appreciate. You've worked all your life, you have your pension and savings, and you would like to live the rest of your life in the nicest possible way in the nicest possible place. For some this may be Canada, with its lower cost of living and crime levels, for others Mexico with its beaches, markets, and delicious food. Whatever your dream lifestyle, there are a multitude of options available to you once your pension is rolling.
The lure of the unknown, colourful cultures, desert and mountain kingdoms, and exotic cuisines, can be a powerful one. We've all seen TV documentaries about remote, otherworldly places, and dreamed of exploring them for ourselves. Some people decide that dreaming isn't enough though, and let their flat or unlock their savings and set off on the adventure of a lifetime. The world is a huge and diverse place, and anything from just a few months to the rest of our lives abroad is guaranteed to open our eyes and expand our minds and horizons.
It has been said that love is an international language, and when Cupid's arrow strikes two people from different places, it's no surprise that a change of country for one may soon follow. It works both ways, with both the man sometimes following the woman back to where she's from, and vice versa. Sometimes an international couple will try living in one of their home countries, and then the other, before they settle – possibly even in a third!
A recent survey found that a majority of young Americans would consider living abroad, and the most popular reason they gave was for better career opportunities. Some people get presented with an opportunity to work abroad, while others actively seek it, but it's a great way to challenge ourselves, broaden our outlooks, get to know a new place and new people, and with the long term bonus of introducing something that will stand out into our resumes.
5 Personal development
There are several different manifestations of this one, including learning a new language, studying abroad, and doing volunteer work in the developing world. All of these, whether explored for a few months of for the longer term, are guaranteed to enrich us and in many cases enrich the wider world too.
At Bright!Tax, we have clients in over 100 countries worldwide. All our professionals are American CPAs, most of whom are MBAs in finance, accounting or tax law. US expat tax is all we do and we are very good at it.