he says he's had the retirement previously... so obviously has an account and more than likely the cash. if not 12k at an agent without cash in.. which also I'm pretty sure you'd spend easily on multiple trips and visas...
I did it 8 years back. Sold everything, brought some personal photos, paperwork etc. that's it... new house, new furniture, new life... you will love it.
strictly speaking you need ticket booked to leave the country when entering... In its not enforced generally, but there's a chance you may be unlucky. I've heard even at check-in people have had problems, but again it's rare.. but worth the risk?