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Foreign Retirement, 6 Advantages


In order to plan the best possible retirement, new retirees are looking outside the US. Exotic locales like Belize, Mexico, and France are not only idyllic, but they are also fiscally stable options for the best retirement living. Currently about 1 percent of U.S. Social Security payments are sent overseas, however if quality of life at low cost is the goal, there are six reasons why more people today are looking at retirement in Latin America and Europe.



According to International Living, the United States only ranks 15th on the list of the top 25 retirement destinations. While it is important to note that due to terrorism or other limitations, some countries are off-limits, others are in the midst of prosperous changes that rival the U.S. economy. Here are six advantages to overseas retirement that you may not have heard, designed to help you pick the best retirement for your budget and priorities.

1) Money. While the U.S. economy is slowly recovering, many other countries have a lower cost of living. This has been the main draw for retirement overseas in the past. 

2) Climate. For many older Americans a temperate climate would allow an active lifestyle, no longer hampered by snow and sleet. With gorgeous natural settings, it is not hard to imagine how a temperate climate could increase quality of life. 

3) Medical Care. While there has long been a stigma about foreign health care, recently the World Health Organization listed the top 100 health care systems and the U.S. was ranked 37th, behind many Latin American, Asian and European countries. While Medicare is still not accepted overseas to cover medical bills, (a deterrent to low-income retirees), there are excellent doctors, hospitals, and treatments available in countries across the world. For the retiree who does not need to use Medicare, it would be easy to seek out a world-class medical facility, or simply not be afraid of poor overseas healthcare.

4) Communication. If children, grandchildren or friends are already living a few states away, communication is the same whether you are living 1,000 miles or 6,000 miles apart. With access to the internet available in most countries, Skype, an internet-based, low-cost calling option allows people to talk to other countries at 5 cents a minute, not to mention communication options by email and instant messaging. Traveling abroad has also become more reasonable. Tickets to a foreign capital city rival tickets to small towns in the U.S.

5) Breaking Foreign Barriers. The communication technology that allows businesses to conduct their services oversees, has opened up foreign destinations for retirees. A Smartphone allows people to look at local street maps, rent houses, see reviews, shop and translate foreign phrases at the drop of a hat. Retirement in Latin America is now a feasible option even for English-only speakers.

6) An Older Culture. Although the U.S. social security administration has been stumped on how to handle an aging population, Europe has been perfecting retirement living. Their low birth rates mean an older population, and their time-honored traditions of respecting elders will work to a retiree’s advantage.

 

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