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frankly I think retiring in the U.S. just won't be a viable option for many people...the cost of living is just too high. I mean think about it....to retire pr
by vaksel 16y ago
frankly I think retiring in the U.S. just won't be a viable option for many people...the cost of living is just too high.
I mean think about it....to retire properly, you need to pretty much put away all your spare money for decades.
What I think will happen, is people will just start retiring to other countries where the cost of living is so small, that you can live comfortably on 10-15K a year.
- iron_ball 16y agoI've heard that Costa Rica has a thriving American retiree community for exactly that reason.
- telemachos 16y agoCosta Rica is safer and more stable than many other countries in the region, but even so, it's not just Costa Rica. Mexico, Panama, Nicaragua and many other Latin American countries are apparently seeing more and more US retirees. Top two hits from a pretty naive Google search: http://www.ehow.com/about_5488519_places-retire-latin-america.html http://www.ehow.com/about_5488519_places-retire-latin-americ... http://articles.moneycentral.msn.com/RetirementandWills/RetireInStyle/TheWorldsBestKeptRetirementSecret.aspx http://articles.moneycentral.msn.com/RetirementandWills/Reti...
- jacquesm 16y agoWhich in the longer term will drive up the cost of living in Costa Rica.
- gcheong 16y agoPerhaps in 20 years the US will be that country.
- code_duck 16y agoNot without dramatic social upheaval. Imagine going through a deflationary period where it makes economic sense to walk away from every single mortgage in the US? I don't think I'll be interested in living here right then.
- adestefan 16y agoThe cost of living in most places outside of the coasts is very reasonable. I currently live in the Metro DC area and most people here retire to PA, WV, or farther to the midwest.
- hapless 16y agoWhat do you expect midwestern retirees to do ? They're not earning coastal wages all their lives.
- _delirium 16y agoMany just retire in place. If you own your home outright (common in the midwest for retirees), and Medicare is covering your healthcare, your annual living expenses are pretty low. Food, property taxes, gas, and entertainment--- you can probably live on $10k/yr, which is half what social security pays.