If you’re like most Westerners, you don’t have nearly enough saved for retirement. Just check out some recent headlines about the US:
Then there’s the cost of living factor, which has increased across the board between 1984 and 2014, (especially in housing and health care), according to the Brookings Institution.
Many retirees in both the US and Europe rely on the government to support them. But across Western Europe, governments increasingly struggling to pay retirees. And the US government says Social Security will run out of money by 2034.
Taken together, you can see why the Social Security Administration was sending checks to 380,000 retired Americans living abroad in 2014. That’s double what it was in 2004.
Why do so many people retire abroad?
Because, depending on where you go, you can s-t-r-e-t-c-h your money and vastly increase its purchasing power.
Some people move to Costa Rica or Nicaragua. Many Brits decamp to Poland to keep a European lifestyle at a cheaper price. Others go across the world to Thailand or Vietnam. In many of those places, you can easily double what your money buys.
But some 5,000-10,000 Americans have chosen Ecuador as their retirement destination. In today’s piece, you’ll learn why, and get a glimpse of what various parts of the country offer someone with a budget of $1,500 - $2,000/month.
Relocating is another strong play in your Plan B, as it gives you many more options and more freedom. Read today’s piece — even if you’re a long way from retirement — to open your mind to the possibilities.
- At least 5 million retired Americans can’t support their former lifestyle
- 1 in 3 Americans has NO retirement savings
- 56% of Americans have less than $10,000 saved for retirement
- 42% of Americans are at risk of retiring broke
Then there’s the cost of living factor, which has increased across the board between 1984 and 2014, (especially in housing and health care), according to the Brookings Institution.
Many retirees in both the US and Europe rely on the government to support them. But across Western Europe, governments increasingly struggling to pay retirees. And the US government says Social Security will run out of money by 2034.
Taken together, you can see why the Social Security Administration was sending checks to 380,000 retired Americans living abroad in 2014. That’s double what it was in 2004.
Why do so many people retire abroad?
Because, depending on where you go, you can s-t-r-e-t-c-h your money and vastly increase its purchasing power.
Some people move to Costa Rica or Nicaragua. Many Brits decamp to Poland to keep a European lifestyle at a cheaper price. Others go across the world to Thailand or Vietnam. In many of those places, you can easily double what your money buys.
But some 5,000-10,000 Americans have chosen Ecuador as their retirement destination. In today’s piece, you’ll learn why, and get a glimpse of what various parts of the country offer someone with a budget of $1,500 - $2,000/month.
Relocating is another strong play in your Plan B, as it gives you many more options and more freedom. Read today’s piece — even if you’re a long way from retirement — to open your mind to the possibilities.
If you’re like most Westerners, you don’t have nearly enough saved for retirement. Just check out some recent headlines about the US: At least 5 million retired Americans can’t support their former lifestyle 1 in 3 Americans has NO retirement savings 56% of Americans have less than $10,000 saved for retirement 42% of Americans are…
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