Additional Coverage:
- A US Army vet thought he’d work into his 70s. A move to South Korea gave him the freedom to retire in his 50s. (businessinsider.com)
Early Retirement Leads US Army Veteran to a New Life in South Korea
For Steve Wilson, a 20-year US Army veteran, early retirement once seemed unattainable. After leaving the military at 38, he settled into a state job back home in Colorado.
But the dream of retiring early never quite faded. He began researching various overseas retirement destinations with his Korean-American wife, exploring options like Thailand, Malaysia, and Costa Rica.
However, none felt quite right.
A shift in their thinking occurred when they discovered the possibility of a visa for overseas Koreans and their spouses, opening the door to retirement in South Korea. The cost of living analysis sealed the deal.
Retiring in South Korea at 54 became a much more appealing prospect than working until 70 in the US. Their daughter enthusiastically supported their decision.
After a 2 ½ month wait for visas and resident IDs, the Wilsons settled in Pyeongtaek, a city south of Seoul, near a US military base and his wife’s family. The location offered familiarity, proximity to amenities, and access to the base’s commissary and exchange, providing significant cost savings.
They purchased a four-bedroom, two-bathroom apartment for approximately $260,000, a considerable downsize from their 3,800-square-foot Colorado home. The move also brought substantial savings on monthly utilities.
Wilson’s healthcare needs are covered by his military retirement insurance, which offers global coverage for a modest annual fee.
Living near the base provides the Wilsons with a diverse community of military personnel, families, Korean nationals, and contractors. While his wife was eager to return to her family, she was initially concerned about Wilson’s adjustment.
However, having been stationed in South Korea previously, the transition was smooth. While his Korean language skills are conversational, technology bridges any gaps.
Wilson notes the respectful culture, a welcome contrast to what he perceives in the US. He does, however, admit to missing certain US conveniences, such as large hardware stores and ample parking.
Life in South Korea has offered a slower pace compared to his demanding career in the States. The Wilsons enjoy a relaxed routine of gym visits, leisurely lunches, exploring local markets, and spending time with family, including their daughter, who is now stationed at the nearby base.
Despite South Korea’s reputation for a fast-paced lifestyle, the Wilsons have found their own comfortable rhythm. Wilson has even rediscovered a childhood passion for model making, expanding into 3D modeling and starting a YouTube channel.
For Wilson, retirement has been a time of rediscovering himself and enjoying pursuits he had long put aside. He appreciates the opportunity to engage his mind and pursue hobbies, a welcome change from the pressures of his working life.
He reflects on how his generation often sets aside personal interests for work, only to rediscover them in retirement. For Steve Wilson, this new chapter in South Korea has been a chance to embrace a slower, more fulfilling life.