Retire in the Caribbean

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Semi-Retirement in the Caribbean

Caribbean Semi-RetirementIt is increasingly common for people to continue working in their 60s and beyond, either by choice or for financial reasons. The traditional idea of  retirement is changing, allowing for more flexibility in how we spend our lives. Our 50s, 60s and even 70s are now viewed as more of a gradual transition into a different lifestyle rather than an abrupt change. So, whether you want to continue your current work on a less hectic scale or try your hand at something new and exciting, the Caribbean may be the ideal place for you.

Before we get started, remember to take a look at Countries section to see what countries are most suited to your semi-retirement plans. Taxes and business formation regulations must be considered if this is the direction you are headed. Of course, your home country may have a say in matters, too.

Living in the Caribbean allows for numerous work possibilities for the semi-retired and retired. Here are just a few examples:

Telecommuting

The internet has opened up a whole new realm of work options. Consider if you can continue working at your current job as a telecommuter (online). If not in your current position then perhaps as a consultant or freelancer. The knowledge and experience you have gained is valuable. Make use of it.

Online business/hobby

Start a blog, a website or an e-commerce store. A surprisingly high number of people start blogs about their experiences in the Caribbean. Some are quite successful and have a loyal following. Similarly, creating a more traditional website about any topic that you are passionate about can draw hundreds or even thousands of visitors every day. With high traffic, you can monetize your blog or website by selling ads. E-commerce sites that sell local Caribbean products may also be a possibility. Remember to check your host country’s laws and get expert advice regarding taxes.

Traditional employment

While the possibility of finding a more traditional job should not be ruled out, it will surely be more difficult. Take a look at our Staff Article on employment. Many Caribbean countries have strict guidelines on hiring foreigners.

Start or buy a business

Owning your own business in the Caribbean is a lot easier than seeking employment. Many countries allow you to do so even without residency. Numerous seniors have started successful small businesses like cafes, bakeries, B&Bs and tour companies. They noticed a niche market opportunity and applied their knowledge and skills. Be sure to consult a local attorney first!

Invest in a business or government program

Many Caribbean countries actively seek foreign investment in certain sectors. They can be quite accommodating to foreigners who are willing to invest, even offering citizenship or permanent residency. Investors can often take either an active or passive role in the investment.

Charities and groups

If you are looking to keep busy and lend a helping hand rather than earn money, consider working with a local charity. Many of the Caribbean countries have a significant poor population that would certainly benefit from your time.

Caribbean Semi-Retirement

Reinvent yourself

While admittedly not a job, taking up a new activity can be very fulfilling and even inspirational. Have you always wanted to write a book, be an artist or create your own pottery? Now is the time to explore new horizons and learn more about yourself. The Caribbean is ideal for this. Less noise and less stress make for an ideal learning environment.

Filed Under: Lifestyle, Money, Working Tagged With: lifestyle, money, working

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