Should You Retire in Ukraine to Reduce Stress in Later Years?

Jenny Holt

Many see retirement as a carefree time that allows you to fulfil all of your lifelong dreams and spend time doing what you enjoy. It can be easy to forget that this major life upheaval can actually be very traumatic, with many new stressors introduced, replacing the old, work- related ones. 

For some, the solution to these is to move abroad to alleviate some of the strain, and Ukraine is becoming an increasingly considered location to spend your golden years. But can retiring in Ukraine really help you deal with stress?

The positives

Healthcare

Healthcare costs in the US increase by around 5% to 7% every year, and managing any medical bills can be one of the major stressors for a US-based retiree. Healthcare in Ukraine is significantly cheaper than in the States, at around $7 for a routine blood test and $20 for a consultation.

Cost of living

Living in the US isn’t cheap. If you need around $5,000 per month for a retirement of 30 years long, you'll need $1,060,751 in savings, including 6% annual investment returns and 2% inflation. Given that the average 50 year old has $42,797 saved, it’s easy to see why financial stress in seniors is so prevalent in the US. Living in Ukraine, from food to accommodation, comes at a fraction of the cost.

Lifestyle

Most people don’t have cars in Ukraine and rely mainly on walking and public transportation. This way of getting around can be hugely beneficial for cardiovascular health, and is also more rewarding psychologically than simply getting into the car and driving from door to door.

Culture and adventure

From the Crimean resorts to the Carpathian Mountains, Ukraine is one big adventure waiting to happen. Given that apathy and lack of engagement and fulfilment is one of the greatest causes of depression and stress during retirement, the opportunities that living abroad present can be hugely beneficial.

The negatives

Healthcare

Although healthcare is much cheaper in Ukraine, and is often more straightforward for simpler routine ailments, there is some lack of provision for major or more complex health problems. Always ensure that you know of a reliable physician in your locality who is equipped to deal with any specific needs you have. It’s also a good idea to continue to pay Medicare, in case you should decide to move back to the US at any point.

Bureaucracy and corruption

‘The system’ in Ukraine, although easy to live with on a day-to-day basis, can sometimes be lacking the clear cut nature of its equivalent in the US. This means that bribes are sometimes necessary to deal with government officials or the police force, a potential source of stress for some.