7 Things I Learned Retiring Abroad In Dublin

Written By: Gail Clifford | Published By: Foodie Flash Packer | November 27, 2021

https://www.travelawaits.com/2711349/things-i-learned-retiring-in-dublin/

There are many reasons to choose where you’ll retire. Like so many Americans, several of my ancestors came from Ireland. In my case, County Cork and County Clare. My last ancestor, my great-grandmother Ellen, and her mother, Mary, came by ship in 1898.

When my daughter Jackie started graduate school in Dublin in 2018, it felt like the family had gone full circle. It didn’t take much for me to consider retiring here. It has always felt like home.

Here are some of the things I’ve found particularly useful when retiring abroad.

1. It’s Nice To Have Your Things With You — But You Don’t Need Everything

I downsized from a 4,000-square-foot house to a 450-square-foot furnished apartment. As much as I love my baby grand piano, it would’ve taken up the entire living space. I took over what I needed, two suitcases at a time.

I don’t need nearly as much as perhaps I thought I did in the U.S. but I do miss my crafting room.

Pro Tip: If you do ship your goods, make a checklist of each of your packing boxes and what, precisely, is in each one, with its value. You’ll need it for customs.

2. Know The Language

In addition to English, many of the people of Ireland speak the Irish Language. They do not call it Gaelic. I’ve learned that just a few words in this ancient language come in very handy. And so do the English idioms.

“You’re most welcome” is a “hello” into someone’s home, not the response to “thank you.”

“What’s the craic?” (pronounced “crack”) means “How are you?” or “Where’s the fun?”

“Is it yourself?” can be used when you meet someone famous, or someone you haven’t seen in a while. I like to use it when I can’t immediately remember the person’s name.

Fortunately, everyone understands “Can I buy you a pint?”

3. Figure Out The Money

The difference between euros and dollars may not seem like much, and financially, it’s not. But banking in Ireland is different from the U.S. If you’re not a student, there’s no such thing as a “free” account. They have negative interest rates (which means if you leave cash sitting in the bank, they deduct money each month) or increasingly steep fees (our bank currently charges 6 euros a month without transaction fees).

Online banking makes a big difference for converting between dollars and euros and any other currency I receive from my writing. And, I’ve learned to accept ATM fees when I need to withdraw cash.

Fortunately, most places do accept credit cards. If you have a no foreign transaction fee credit card, you’re good. Ireland is not one of the countries that accepts direct deposits from social security.

I expect to keep a U.S. account to accept my social security payments (when they’re finally available to me) and to pay credit card bills.

I’ll also have a local savings account, despite the fees, knowing I have to fill out more U.S. tax forms with this. I’m glad my accountant keeps up on all this for me.

And that is important. Be sure someone on your financial team — banker, lawyer, financial planner, accountant, or wealth manager — understands the ramifications of you being overseas. It’ll save you trouble later.