Retire Outside the U.S.

Stretch your Income by Moving Abroad

With skyrocketing insurance costs, high gas prices, increasing food prices, substantial home ownership and rental costs, it is difficult to comfortably retire in the United States unless you have a monthly guaranteed income of several thousand dollars. But what if you could retire to an area where a relaxing lifestyle can be enjoyed for just $1,200 monthly, and you can live very well (with maids and gardeners) for, say, $2,500 monthly? Interested?

Many Baby Boomers are retiring comfortably outside the U.S. where the dollar goes further. Obviously, you probably won't find these places within the United States. Moving to another country where the cost of living is low offers substantial benefits for those without a large financial nest egg. Life can be good...very good. American enclaves often exist for those who are afraid of cultural shock and language barriers. Health insurance and medical facilities are good. Financial matters are easily handled. Internet and phone service are uninterrupted. Climate and scenery are outstanding. The recreational activities you enjoy are readily available. Safety is not a major concern - crime is typically less than in major U.S. cities. And you are just a plane ride away from family and friends in the United States.

I cannot afford to retire in the US, mainly due to the high cost of medical insurance (until the age of 65), cost of property ownership, and so on. The choice of Central America, besides a terrific weather pattern, is enjoying affordable property values, affordable medical insurance/procedures, and inexpensive food prices. Being in the tropics, clothing costs are limited, and there are no heating bills. Air conditioning may be more comfortable but is not required in most areas.

- Rudy, 62

But it takes an adventuresome personality to move abroad. And we advise not purchasing property until you have lived in your selected location for at least a year. There are a lot of considerations, but even on a low, fixed income it is possible to retire like royalty in a low-cost paradise.

A good discussion of the pros and cons of retiring south of the border can be found at this AARP site. And a good site to consider if you are serious (requires a paid subscription) is International Living.

We have researched areas popular among American retirees. There are, of course, pluses and minuses to relocating to these countries to enjoy a comfortable retirement. Our careful screening has identified Websites that give you both sides of the picture and offer helpful resources for making your decision. Click on one of the links below to learn more:

Retire in Mexico

Retire in Costa Rica

Retire in Korea

Retire in Nova Scotia