Why Over 3 Million Baby Boomers Plan On Retiring Abroad

[FarCenter]

The precise number of people retired overseas is hard to come by. About 350,000 American retirees receive Social Security benefits in countries other than the U.S., according to the Social Security Administration's annual statistical supplement. The majority of those people live in Europe, Canada and Mexico. Anecdotal evidence suggests that this number will rise: As many as 3.3 million American baby boomers are planning to retire abroad, according to figures from Travel Market Report, the industry publication. Three years ago, the paid subscription base of International Living, a magazine for retirees who live overseas or plan to, was 39,000; today, it's 80,000.

What's driving them abroad? Money—or lack of it. Americans' confidence in their ability to afford a comfortable retirement is at historically low levels, according to this year's Retirement Confidence Survey, conducted by the Employee Benefit Research Institute. Only 14% of workers said they were "very confident" they would have enough money to live comfortably in retirement, according to the survey.

The loss of confidence is understandable: According to a study by the Federal Reserve published June 12, the global financial crisis erased 18 years of gains for the median U.S. household's net worth. From 2007 to 2010, the S&P/Case-Shiller U.S. Home Price Index dropped 23%. Retirement accounts—important supplements to Social Security and other types of retirement income—were also badly hit. During the same three-year period, the Standard and Poor's 500 Index lost 14% of its value.

The cost of living in most international retirement destinations is much less than the U.S. Consider these figures from Numbeo, the online database of user-contributed information about the cost of living in cities around the world: Rent in San Jose, Costa Rica, for instance, is 57% lower than in Philadelphia. Consumer prices in Chiang Mai, Thailand, are 59% lower than in Boston. Groceries in Seville, Spain, are 36% lower than in San Francisco.

http://www.businessinsider.com/nearly-33-million-baby-boomers-say-theyre-planning-on-retiring-abroad-2012-7

Outsourcing retirement living.

[sinkingfeeling]

1. I'm one of them.

[GCP]

22. Me too

I came back to the UK. Some things are more expensive *cough* Gas, but in general, living is cheaper and of course health care isn't an issue.

[SoCalDem]

2. Nicaragua beach community..Eco-housing $160K

http://www.aurorabeachfront.com/nicaraguarealestate/property/Eco%20House%20Nicaragua.php



Description:

Nestled in lush tropical hills, these homes are designed to stay cool with consistent breezes, large patios and sliding walls to regulate the airflow. The perfect home to own and rent out with wireless internet and direct beach access.

These large 2 bedroom, 2.5 bathroom homes each come with over 1/3 acre of fee-simple titled land and all have great ocean views. Each home is lavishly appointed with Simplemente Madera furniture and all appliances. The homes have concrete walls with wood accents on the floor and detailing. Each house has 2 master bedrooms and a large living room and deck to entertain.

A large shared swimming pool is tucked into the hillside with a precious view of the Pacific Ocean. The project is over 250 acres with walking trails directly to one of the prettiest beaches in Nicaragua and only 10 minutes from great surf. These homes are great for vacation rentals and are completely managed and maintained. Own a slice of paradise!

Property Detail:

Location: North of San Juan del Sur
Sub-Location: #11
Bedrooms: 2
Bathrooms: 2.5
Lot Size (sq Meters): 1500.0
Building Size (sq Feet): 2000.0
View: Ocean View
Beaches near the property:
Maderas, Majagual, Playones.
Price: $160,000 Property Features:

• Back Up Power
• Balcony
• Deck/Patio
• Fridge
• Furnished
• Gated Entrance/Community
• Hot Water
• Internet
• Landscaping/Garden
• Pool
• Solar Wind/Power
• Storage Space

[Tikki]

5. Do you know if there are monthly or yearly fees to live at that complex and..

if...how much? And if the roads leading in/out are usable in the rainy season?

Thanks
Tikki

[SoCalDem]

6. One of the beaches...Majagual

[SoCalDem]

9. Their email info is here.. I did not find much else, but they could answer your questions

http://www.aurorabeachfront.com/contact-us.php?id=20&stype=1

[Tikki]

11. Seriesly ;)...Thanks..

I'll check it out....


Tikki

[SoCalDem]

12. I like the 2 Master bedroom part

Makes it easy to have a roommate or to rent out when not there.. It includes furniture and appliances too..

[SoCalDem]

10. their blog..very informative

http://www.aurorabeachfront.com/blogs/

[haele]

16. Hurricaine season can be deadly in these areas, especially mudslides.

While some of the homes may be built well enough to withstand the flooding or a mudslide, there might be some issue with roads and infrastructure.

Not to say we wouldn't be considering an area like that, but we'd also be looking into the risks as well as the financial bennies.

Haele

[Common Sense Party]

3. I'd love to, if I could convince my wife.I'd go to Costa Rica or someplace in

Central or South America. We both speak the language, so that wouldn't be a problem. But she'll want to live next door to grandkids if she could.

[HappyMe]

4. If I could, I would.

[sadbear]

7. This X'er is planning on retiring abroad.

Eastern Europe for me.

[MrScorpio]

8. If I could retire in the Netherlands, I'd be out of here in a heart beat

[Yavin4]

13. I Want To Retire To A Culture That Respects The Elderly

Our culture worships youth and money.

[BillyJack]

14. Kick to read later eom

[nanabugg]

15. Heading for trouble. But it's a choice. nt

[mnhtnbb]

17. We were seriously thinking about Panama--in fact both hubby and I

have permanent resident visas for Panama. Unfortunately, the
development where we were building in 2005 got into huge financial difficulties
(so if you want to retire abroad, do NOT build or buy into
anything not physically completed) and then our house
here burned down in 2007. Total stress for several years until we finally
got our money out of the Panama deal and rebuilt a house here.

I think we're here to stay now since hubby will be 70 this year and I'm 61.

Edit to add: we looked at a lot of countries and chose Panama for location
(little hurricane threat) and its advantages to retirees. The place we would
have been was on the Caribbean side, not far from the border with Costa Rica.

[SoCalDem]

18. I lived on Albrook AFB for 8 years as a child (1953-61)

and have always thought I would go back to Panama, but as a grown up, it would probably break my heart to see what has happened to that primeval place of my memories...

[mnhtnbb]

20. Albrook has been turned into a classy residential area.

http://www.panamarealtor.com/locations/28/albrook

[SoCalDem]

23. That was a nice trip down memory lane

I looked up Santa Clara (my favorite beach) and saw that Rio Hata/Santa Clara real estate is now in the MILLIONS.. We used to rent a house there for $12 a week.. No windows no beds..no kitchen.. We bathed in a tub in the back yard..when we could keep the monkeys from joining us ..

We had to sleep in hammocks because of the snakes , tarantulas, soldier ants & scorpions

life was simpler then..

breakfast was whatever we could pick from the trees

[bitaramps]

25. I lived at Albrook AFB starting in 62... question!

For years, I've been trying very hard to find out the name of someone who worked at Albrook AFB as a coach in the gym. He was "Hank" to us, and had some type of boxing career in his past. He would have been in his 40's then. Would you remember this person? We were tykes who took boxing lessons from Hank, in large groups. Could this have been Hank Herring, silver medalist?

[SoCalDem]

27. That name does not ring a bell with me

I was more into swimming, so I would not have crossed paths with him.. Did you google Hank Herring w/Panama in the search?

[Baitball Blogger]

28. There is an organization of Zonians that meets annually in

Central Florida. I'm going to get flogged for not knowing their name. Something like the Isthmian Society.

[SnohoDem]

19. I did it.

I've lived in Hua Hin, Thailand for the last five years. I really wanted to live in Hawaii, but it was way too expensive.

[woo me with science]

21. DU Rec

[KamaAina]

24. That many people beelining for a few chosen expat hotbeds will drive prices up

so at some point, it won't be worth it.

And groceries in most U.S. cities are 36 percent cheaper than in San Francisco!

[Thinkingabout]

26. How about enticing the radical RW to live elsewhere so they cant vote here.