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In times gone by retirement was a very fixed concept that usually involved settling down in one place and preparing to enjoy the rest of your life in your chosen location. However, as the world has changed, travel is cheaper and communications technologies, including the internet, have significantly evolved, there are far more interesting and creative ways to enjoy your retirement.
One of the most popular trends is to retire part time in Italy, which lets you enjoy life in the beautiful country while keeping up your links to your native country and family and friends back home.
Semi-retirement in Italy is the perfect way to experience Expat life without committing to a full time, permanent move overseas and is the ideal scenario for Americans that can afford it. This gives you the opportunity to build a flexible retirement plan including a part time, semi permanent home that you can return to throughout the year in Italy. Many Americans, and other Westerners, are deciding to retire in a part time fashion in Italy and so if you want to learn more about the considerations you’ll need to take into account then read on!
The Options for Semi-Retirement in Italy.
There are more options than ever for creating a part time life overseas! You might want to follow the warmer weather of the Italian summer and then spend winter at home with your family. You might want to explore the culture, meet the locals and find a corner of the country to make your part time home! There are more Visa options than ever before, which lets you live part time in Italy without overly complex paperwork to worry about.
Things to Consider Before Semi-Retirement in Italy.
- Long term rentals are very affordable while giving you the ability to live part time in Italy without committing to buying a property.
- Buy a property in Italy and rent it out when you are not in the country.
- You can sell your home in the USA to fund your retirement or keep it and rent it while you are in Italy – either way, consider the ways you can leverage your current assets to help pay for your future plans.
- Apply for a residency permit in Italy if you want to stay in the country for more than 90 days at a time.
- If you only want to stay for a few months at a time then you don’t even need a residency permit – you simply have to fill out a declaration of presence!
- You can retire on a part time basis in more than one country! So don’t be held back by any preconceptions you might have about what it means to retire.
These are just some of the many possibilities for retiring part time in Italy and don’t forget, you can put together a combination of several options to suit your personal requirements.
Before committing to buying a property in Italy it’s always a good idea to get a feel of the place in person. Try staying in the town for a few weeks to see if you like being there while getting a sense of the area’s vibe.
The part time retirement option in Italy is a fast growing movement that suits many different types of people! So why not explore the possibilities for yourself?
The Huge Benefits of Retiring Part Time in Italy.
When you decide to retire on a part time basis in Italy you can benefit from the cheap property prices outside of the major cities. This lets you enjoy the slow pace of life in the countryside while still having easy access to the cultural hubs of the country where you can visit the galleries, museums and other cultural highlights that are centred in the main cities.
Giving yourself the time to immerse yourself in the Italian culture will leave you with a far better experience than if you were to visit for a brief period as a tourist! Having the space to really explore your location will let you discover the hidden gems of the town or city in which you’re staying. You’ll also have the chance to meet more locals, make friends with other Expats and find your feet in your new overseas life.
If you choose to purchase a property and only spend part of the year there you can also rent it out while you’re away. This will generate a helpful income that you can use to travel to other countries as a tourist, visit your native country or save to invest in the future. However, if you do decide to rent out your property you’ll need to be aware of the tax implications and you might need to hire a local tax expert to walk you through the bureaucratic processes involved.
Other Benefits of Semi-Retirement in Italy.
There’s a lot of benefits of a part time retirement in Italy that include, but are by no means limited to:
Convenient Range of Visa Options in Italy.
Despite the bureaucratic obstacles of life in Italy there is still a good range of Visa and residency options which are suitable for most types of retirement plans. The Italian government is keen to attract retirees to the country for the purposes of both taxation and local economic stimulus.
For instance, although you could stay in Italy for an indefinite amount of time you can also arrange to spend only part of the year there.
Simpler Accommodation Arrangement.
When you live in Italy on a part time basis it can be a lot easier to arrange your accommodation. If you’re aren’t ready for the commitment of buying a property you can simply engage in long term rentals until you are! Arranging to buy a new property overseas can be a pretty daunting prospect so if you don’t want to go down this path you can still enjoy life in Italy on a shorter term basis throughout the year. This will take a lot of the bureaucracy, stress and difficulties out of your retirement – which after all, is probably exactly what you want!
There are many ways to rent a property for a few months at a time and many sites like AirBnb offer significant discounts on prices if you rent for more than a month at a time. Another thing to bear in mind is that if you stay during the tourist low season you’ll save a lot of money on rental costs.
It’s Cheaper to Live Like the Locals!
When you are planning to spend a lot of time in Italy, even on a part time basis, it’s always better to try to live like the locals do. Shop in the markets like they do, use the public transport and take part in any local festivals and events which are often free to attend. You can live an extremely full and vibrant life in this way without spending a fortune or going to all the usual tourist hotspots where prices are bound to be higher than what the locals pay!
The more you can integrate and become a part of your new community the more money you’ll be able to save! You’ll soon discover the best places to eat and shop and if you spend the time to learn some Italian you can befriend the local people as well. All of this will make your life far better and allow you to experience the genuine Italian life without spending a fortune.
Other Things You Should Consider In Relation To Your Semi-Retirement.
There are a few other things that you should consider before deciding to relocate part time:
Are You Ready – Financially and Emotionally for Part Time Life in Italy?
There’s a lot of ducks you need to get in line before you can travel, live overseas and integrate into a foreign community. There’s the financial considerations of course, but equally important are the social and emotional strains that you might face while living part time overseas.
Make sure that while you are living in Italy that you stay in touch with your friends and family back home. You’ll need to be adaptable and ready to make new friends in Italy and prepare yourself for any culture shocks that you might experience at first.
It’s vital that you set up a new routine while you are living in Italy, keep yourself busy and maintain a positive mental attitude, even in the face of unfamiliar challenges.
Have You Done Your Research?
Before you take the leap and begin your part time retirement in Italy you want to make sure that you have done plenty of research so you have a good idea of what to expect.
Of course, you will have much more flexibility as a part time retiree and you can explore different areas of the country during different trips however the more research you can do in advance the less surprises and difficulties you’ll have on arrival and during your stay.
Definitely make 100% sure that you know about the costs of staying in a particular town or city so you have plenty of money for food, accommodation and entertainment during your stay.
Your Tax Implications.
Depending on your personal situation there may be some complicated changes to your tax obligations. The safest way to approach these issues to hire the services of a tax expert or lawyer to go through your finances with you and highlight anything that you should be aware of. They will also be to help you navigate any of the often rather extensive Italian bureaucracy that you’ll have to deal with on arrival.
What Are Your Healthcare Requirements?
If you have any ongoing health conditions that need either regular treatment or prescriptions then you need to make sure that your insurance policy covers you in Italy and that you’ll be able to access the medicines or services that you may require.
Fortunately, the Italian, the healthcare system is superb and you’ll have access to world class services no matter where in the country you are staying. Nonetheless, you should do a little research in advance so you don’t get any last minute surprises.
Italy Is A Great Place For Semi-Retired Life.
If you’re considering a part time retirement overseas then you couldn’t do better than to explore your options in Italy. The Visa system is fairly flexible and despite bureaucratic requirements it’s quite easy to arrange living in Italy on a part time basis.
Living in Italy on a part time basis will let you test the waters and see if it really is for you without making a huge financial commitment or packing up and leaving your home forever! You can rent out your home in the States while you are travelling in Italy and always have a place to go back to.
There’s so much to enjoy in the country including the famous cuisine, the stunning architecture and cultural heritage as well as some of the best art and galleries in the world! You can live a very affordable life while still living the Dolce Vita, or the ‘sweet life’! So if you’re thinking about a part overseas retirement, make sure Italy is at the top of your list of potential locations!