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Retiring Abroad is Heating Up

If you could retire for 40 dollars a day, would you? A BBC piece today suggest that British citizens are increasingly answering in the affirmative:

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] 

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  • Loader2000

    Amen, I love the idea of retiring abroad, assuming I can afford to fly or drive back and visit my family a couple of times a year (or they could visit me in Costa Rica!) I also like the idea of US citizens learning Manderin, Korean and Japanese and using these skills to live and work abroad as the economic winds carry them.

  • Corlyss

    I really don’t want to live anywhere else but the US. And someplace hot and humid would be my idea of Hades. In fact, I think that’s the image of Hades throughout the West since time immemorial. If I were to move anywhere, it would the Northwest Territories up near the arctic circle. I’m up for 9 months of winter.

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