A Reason Americans Should Retire Abroad2 min read
The American Dream when it comes to retirement is to leave the workforce and live a simpler life, which may include golf, travel, spending more time with family and moving to a warmer climate. By the time you reach the age of retirement, you’ve paid your dues and committed many years to your career, so the time off is well deserved.
Unfortunately, retirement in America ain’t what it used to be.
The reason? Money.
Americans are putting off retirement and remaining at work to save more due to the rising cost of living and healthcare. And when they do finally retire, they’re faced with how to maintain their quality of life with less coin in their pocket; many people are still trying to bounce back from the impact of the global financial meltdown that ravaged their 401(k).
Now a new international survey from the Commonwealth Fund International Health Policy Survey of Older Adults reveals that the U.S. is among the worst countries when it comes to providing affordable healthcare for seniors. It also found that American adults tend to be sicker than those in other countries, and are most likely to struggle with medical bills. And so, for many, the answer is to change the game. Or more specifically, to look elsewhere so they can have a better chance of enjoying that ideal retirement.
Retiring abroad is a trend on the rise – in 2012, Travel Market Report reported that more than 3 million American baby boomers were planning to retire abroad. And International Living magazine – which caters to Americans retired abroad – saw its circulation more than double from 2009 to 2012.
For those considering living abroad, affordable, quality healthcare is clearly a major consideration. Americans have to balance access to quality care and their healthcare costs when retiring – prospective retirees worry about whether they’ll have enough money to pay for medical and long-term care expenses. Many retirees seek out retirement destinations with lower costs of living, enabling them to better afford out-of-pocket medical costs and health insurance.
Numerous countries offer subsidized national healthcare, and in those that don’t, there are an increasing number of hospitals and doctors that meet U.S. expectations. If you’re wondering just where retirees can often find this balance, International Living has ranked the best places to retire:
- Costa Rica
One of the common denominators among this group – affordable, quality healthcare. What a concept.
Photo courtesy of My International Adventure.