With the low cost of medicine, English-speaking retirement communities and affordable housing, many are heading to tropical destinations, including South America and Southeast Asia where it’s doable to live on less than $40 per day….More than one million Britons now live abroad — a number that has doubled since 2006, according to the Institute of Public Policy Research. More than 3 million Americans and Canadians have retired abroad, according to estimates from retirement sites.
As in Britain, so in America. As the boomers age, a number of reforms will need to be carried out in Medicare and Social Security if we are to avoid bankruptcy and declining quality of care. But that will also require a number of creative cultural shifts, some of which we’ve outlined. Retiring abroad has its challenges, but it can also offer a very comfortable life in a beautiful location for almost half the cost of living state-side.No wonder the number of people doing it is climbing; we expect to see the trend rise in the coming year.[Image of Mexican Beach from Shutterstock]