Why many retirees relocate

CHALLENGES: AND FIVE REASONS SOME DECIDE TO STAY IN SA AND NOT GO ABROAD

- Hardi Swart

A few years ago, my wife and I considered moving to Australia, attracted by its opportunities and lifestyle benefits that I learned about during my master's in financial planning. After weighing financial, social and personal factors and speaking with retired South Africans who had returned, we decided South Africa was the best for us.

Wealthy South Africans often contemplate retiring abroad for reasons including improved quality of life, better health care, favourable climates and cultural diversity. However, many choose to stay due to strong family ties, concerns about cultural integration, high living costs abroad, and a desire to remain connected to their heritage.

Five reasons why wealthy South Africans consider retiring abroad:

1. Political and economic uncertainty Many high-net-worth South Africans consider moving abroad because of concerns about political instability and economic uncertainty.

Corruption, power cuts (load shedding), and fluctuating economic policies make long-term planning difficult and raise concerns about the future of South Africa's economic and social stability.

2. Safety and security Personal safety and concerns about crime are often key reasons why retirees contemplate leaving.