Boomers Retire Abroad to Stretch Fixed Incomes

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After being decimated by the Great Recession, it is difficult for typical Baby Boomers to comfortably retire in the United States. But what if you could retire to an area where a relaxing lifestyle can be enjoyed for just $1,200 monthly, or 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. Moving to another country where the cost of living is lower 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 available. Climate and scenery are acceptable. Recreational activities are readily available. And you are just a plane ride away from family and friends in the United States.

But it takes an adventuresome personality to move abroad. And experts 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 comfortably retire.

We have researched areas popular among American retirees. The Caribbean and countries south of the border currently offer the best locations for Boomers with limited savings or on a fixed income to retire. These choices also have the benefit of fast access to the U.S. for visiting relatives and friends. And we point you to sites and other resources that provide more information.

 

Baby Boomer Wellness, Aging and Beauty

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The Basics of Aging Well

As we age, it is important to our well-being to feel good about ourselves. That means taking care of one’s self, both physically and mentally. Diet, exercise, mental agility, and beauty products all play a role in enhancing the enjoyment of Fall and Winter of our lives.

Baby Boomer Beauty

Baby Boomer health, wellness and beauty.Baby Boomer beauty products abound. Be sure to wear sunscreen when performing outside activities! A wealth of beauty products exist for women…and men… to make Boomers look and feel younger. These range from anti-aging creams to using face lift tape for a temporary fix and products like Rogaine that re-grow lost hair. The one suggestion we offer here is to be sure to use sunscreen when doing outside activities. Remember, you are at an age where the cumulative effects of sun exposure – wrinkles and skin cancer – start to appear.

With a little online research, you will discover that many skin care, hair and cosmetic products can be purchased at a discount.

Baby Boomer Aging

Aging is state of mind as much as anything else. Some Boomers age well and keep their minds sharp because they remain active and engaged. Other languish and succumb to illness or mental diseases, often leading to suicide. Here is what you can do to “age well:”

  • Stay connected. Remain involved with your family. Develop a supporting network of friends. Volunteer for a worthy cause.
  • Nurture your spirituality. Whatever your beliefs, exercise them. As retiring Boomers, we are entering the “winter” of our lives. Develop inner peace and put your beliefs into action.
  • Exercise your mind. The more you use your mind – whether through work, puzzles, or whatever – the better your odds of avoiding diseases like dementia and Alzheimer’s.
  • Enjoy a loving relationship. Studies have show that Boomers who are in a loving relationship have a better quality of life and live longer. And besides, doing things is always more fun when you have someone to share it with.
  • Get a pet. Cats and dogs are great companions. They give unconditional love….as long as you feed the on time ;~)
  • Find time to relax. Schedule time everyday to do something you particularly enjoy. Read a book, meditate or watch a movie. Relax!
  • Women – Eat chocolate! It gives women a feeling of well-being …and makes their husbands happy.
  • Create a “bucket list.” What do you want to do or accomplish before you die? Make a list and plan how to achieve each item. Energize your life by instilling adventure into it. Try new things. You only have so many years left – Why not make the best of them?

Affordable Entertainment Activities for Baby Boomers

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If you are a Baby Boomer who lives – or expects to retire – on a fixed or limited income, that doesn’t mean that you can’t enjoy a host of activities and live a rich life. Many activities are free. You will also find events and entertainment with special pricing for seniors. And this Boomer generation is an active one, so sports and other activities that cost little or no money are always available to you. Plus, never forget to ask for a “senior discount” at restaurants, movies or just about anywhere for anything.

Baby Boomers – AARP Membership Gets You Discounts!

We’re not trying to sell AARP to you, but this organization is essential for Baby Boomers on a fixed income. AARP membership costs only about a dollar per month and you receive so much in return, among them significant discounts across the board, including travel, books, and insurance. This is a deal you cannot afford to pass up!

Local Community Activities

Free community activities, such as museums and art galleries, are a great way for Baby Boomers to entertain themselves.

Most people do not realize how many free activities are sponsored by their local community. Baby Boomers on a fixed income can take advantage of these to enrich their lives. Such activities might include:

  • Art Related – gallery openings and art shows, usually accompanied by free wine and hors d’oeuvres.
  • Free nights at museums, observatories and other civic functions.
  • Local libraries freely provide books, movies, readings and lectures.
  • Local colleges provide many free activities and events.
  • Many local clubs are free to join and participate.

Sports/Recreation

Baby Boomers can enjoy recreational activities at little or no cost. There are an endless number of activities in which Baby Boomers can participate for fun and exercise. These include bicycling, hiking, bird watching, camping, skiing, jogging, scuba diving, swimming, tennis and golfing. There is also jazzercise, yoga and aerobics. And you can enjoy these activities for little or nothing! Once you have the right equipment (hint: shop on eBay), most activities cost nothing but time. If there is a fee involved (e.g., skiing or golfing), you can easily find bargains and take advantage of senior discounts.

Join Clubs

Joining clubs is a great way for Baby Boomers to meet new people and enjoy inexpensive entertainment.There iBaby Boomers can join clubs like Toastmasters to enhance their retirement years.s a club for every Bay Boomer, no matter where your interest lies. If you do bicycling, join a local bike club. The Sierra Club has special senior groups that offer many social events in addition to hiking and camping. Toastmasters provides an inexpensive opportunity to improve your speaking skills and meet new people. Whether you are interested in quilting or books, there is a club out there where you can meet and enjoy people who have similar interests!

 

Boomers – Live Well in Cheaper Locations

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Baby Boomers can Lower their Cost of Living by Relocating to Places in the U.S. Where the Dollar Goes Further

One of the most effective steps Baby Boomers can take to live better on a fixed income is to relocate to an area where the cost of living is less.  This can result in dramatic savings without sacrificing your quality of life.  In fact, in most cases the quality of life significantly improves.

Many Baby Boomers live in relatively expensive areas, like San Diego, where home prices are dramatically higher than in the rest of the nation.  Just selling your home and relocating to more affordable areas can allow you to buy a new home for cash and still retain a nice nest egg to supplement savings, investments and Social Security or pension income.  And if the real estate market does not justify selling your residence now, you can always rent or lease it out until times are better.

Best Places in the U.S. for Baby Boomers on a Budget to Retire 

Yes, there are still places right here in the U.S. that are excellent retirement locations for Baby Boomers who must live off Social Security or a pension and have an additional small nest egg (401K, investments, etc.).  Obviously, you want to avoid areas with high housing costs or which are dependent upon expensive fuels for heating and traveling.  U.S. News and World Report has profiles of places for retirement by criteria, and lists the following “Best Places to Retire” in a feature from 2011.

In recent articles, AARP offers a host of reports that can help Baby Boomers decide on the best place to retire for them:

Kiplinger also investigated this subject: 23 Cheap Places Where You Will Want to Retire.

Rural Areas Offer Home Financing for Low-Income Baby Boomers!

Rural Housing Direct Loans are loans funded directly by the government. They are available for low- and very-low income Baby Boomers to obtain home ownership.

You can get 100 percent financing. including repairs and renovations or to purchase a site and install water and sewage! Mortgage payments are based on the household’s adjusted income. To qualify, your income can be as high as 50-58 percent of the average median income for the area in question.

This is a good deal for Baby Boomers who have suffered financial setbacks or live solely on Social Security. Find out if you are eligible and learn more at the USDA Rural Development Website.

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