A growing number of the 8,000 baby boomers who turn 65 each year are looking overseas in search of a better retirement. They’re looking to havens where costs are lower, the climate is often better, the healthcare is top-notch, and property prices deliver good value, report the retire-overseas experts at InternationalLiving.com.
“The traditional age for retirement in the U.S. is 65, but many Americans feel they’ll have to keep working into their 70s before they can retire comfortably… if they ever can,” says Executive Editor of InternationalLiving.com, Jennifer Stevens.
“As many as 92% of working American households aren’t meeting recommended savings targets. But you can’t just tell people to save more. For many folks, it’s not possible. So retirees face a choice: 1. toil on—perhaps indefinitely, 2. significantly scale back plans for a ‘comfortable’ retirement, or 3. consider better options overseas. In some of the countries we recommend, a couple could cut their monthly costs to as little as $1,000 and still enjoy a great lifestyle. That would be nearly impossible to do in the States these days.”
Expats Duane and Judy Allen, for instance, originally from Tampa, Florida, were able to trade up in retirement by going abroad. They always wanted to live by the beach, and for years, they say, they scoured Florida’s coasts looking for an affordable property. But everything was out of reach. Today, though, they’re living their dream on a good-value Caribbean island where they live comfortably, right on the water, on a budget of $1,300 a month.
“Our view is breathtaking, no matter what time of day it is,” says Judy. “Sitting on our porch watching the sun rise is a daily pleasure.”
Expats report that when things cost less, they can do more—thus improving their quality of life. Amanda Walkins, a writer for InternationalLiving.com based in Roatan, says, “My two-bedroom, beachfront apartment runs me about $750 per month with all utilities included. I go out to eat several nights per week, share drinks with friends, and I regularly host barbecues at my house—all without flinching at the cost.”
InternationalLiving.com report increasing interest in their products and services among Americans and Canadians looking to maximize their retirements overseas. The number of attendees at International Living’s live events, for instance, has increased significantly over the past few years.
The organization’s annual Fast Track Your Retirement Overseas Conference, held in Las Vegas every September, has seen the attendee number rise to 650 in 2014. And International Living expects that number to rise again for this year’s conference, set for September 25-27, 2015.
For those considering a similar move overseas, International Living’s annual Fast Track Your Retirement Overseas Conference covers more than a dozen beautiful places in the world where retirees can live a great lifestyle on a low budget and turn their dreams of a comfortable retirement into reality—for a small fraction of what it would cost at home.
Editor's Note: Registration remains open for International Living’s Fast Track Your Retirement Overseas Conference 2015. For details about this event, see here: Fast Track Your Retirement Overseas Conference.