Ray Merlehan and his wife are thinking about moving to Malaysia, Spain or Greece when they retire.
Financially, it may be a better option for the couple than staying in Australia.
"I feel a little bit disappointed," Mr Merlehan said.
"I never believed that our country would become as expensive as it has."
The 64-year-old said he would need to keep working until he was 70.
He has a modest superannuation balance, which he will use to pay off his mortgage.
Each country will have its own visa requirements and rules around how long you can stay without residency. ( ABC News: Patrick Williams )
With the high cost of insurance and utilities, Mr Merlehan believes his future in Australia is bleak.
The couple is considering selling and buying a modest house overseas for a "comfortable retirement".
A "golden visa" program in Greece, for example, offers residency in exchange for investments, primarily in real estate.
"They've got regional towns that are struggling to survive, where the government of Greece has offered golden visas to people who bring at least $250,000-plus into the country," Mr Merlehan said.
But there are drawbacks to an overseas retirement.
Mr Merlehan and his wife are worried about moving away from their family.
They also have concerns about accessing health care overseas.
Access to healthcare, visa requirements and financial considerations vary between countries and should be carefully researched. ( Reuters: Cathal McNaughton )
'See how you feel after the holiday excitement wears off'
Australian Mark Rooney lives in Cambodia.
He said moving to South-East Asia could reduce costs "massively".
Mark Rooney says people should consider how they'd manage if something goes wrong in a foreign country. ( Supplied: Unsplash / Vanna Phon )
Mr Rooney said eating local food in Cambodia cost a maximum of about $15 a day, transport was cheap, and beer could cost as little as 90 cents.
He said it was not just about living more cheaply; many people were retiring overseas for reasons including warmer weather, a sense of community and a slower pace.
"I would not describe it as a simple trend of people leaving Australia," Mr Rooney said.
"I would describe it more as Australians becoming more open-minded about how retirement can look."
His advice is not to confuse a holiday with living somewhere.
"You need to understand the weather, health care, visas, banking, transport, language, internet, community, food, safety and how you would manage if something went wrong," he said.
That could mean a try-before-you-buy approach.
Mr Rooney advised people to "stay outside the main tourist strips. Try and use local services".
"See how you feel after the holiday excitement wears off," he said.
He also recommended integrating into communities.
"You are not just buying a cheaper lifestyle. You are entering someone else's culture, community and way of life."
Some countries have barriers to what foreigners can do with property. ( Supplied: Flickr/Dirk Werdelmann )
Health care overseas
Mr Rooney said one of the biggest mistakes people made when retiring overseas was not having serious medical cover.
The federal government's Smart Traveller website provides general advice on retiring overseas.
Healthcare standards in some countries may not be the same as in Australia.
And the cost of health care could be higher.
Medicare does not pay for medical treatment overseas, nor do Australian private healthcare providers.
Australia has reciprocal healthcare agreements with some countries, including New Zealand, Italy and the UK, but co-payments may be required.
Medical repatriation can cost hundreds of thousands of dollars.
International health insurance may cover some health care and the cost of repatriation to Australia.
But it can be costly and may not cover pre-existing conditions.
Australians living overseas can access Medicare for treatment in Australia for up to five years after moving overseas.
Can I still access my age pension or superannuation overseas?
You can still get the age pension living overseas, but there are rules around it.
And it may be less than what you receive in Australia.
You should get expert financial advice before making arrangements to move overseas. ( ABC News: Claire Moodie )
The pension supplement will drop to a basic rate, and the energy supplement and rent assistance will stop.
The pensioner concession card will be cancelled.
Glen James. ( Supplied: Glen James )
Superannuation income and lump-sum payments may have tax concessions in Australia, but could be taxed in other countries.
Glen James hosts a podcast on retirement and said he frequently received questions about the financial implications of moving overseas, particularly in drawing on superannuation funds.
"If you are looking at a particular country, you really want to make sure that it's not going to be a hindrance," he said.
It is recommended that retirees seek expert financial advice.
Retirement visas generally require proof that you can sup…
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