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Author Topic: American "economic refugees" are increasingly retiring abroad  (Read 817 times)

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Offline OfTheCross

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American "economic refugees" are increasingly retiring abroad
« on: September 23, 2019, 02:43:00 pm »
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The Statons said the decision to retire outside the U.S. came in the wake of the financial crisis a decade ago, when their retirement nest egg lost value and they were faced with retiring at a lower standard of living than they had expected. More Americans have followed their lead. The number of retirees who draw Social Security outside the U.S. jumped 40%, to more than 413,000, between 2007 to 2017, according to the Social Security Administration.

To be sure, that's a fraction of the nation's 42 million retirees. But it reflects the financial realities for a growing number of baby boomers who are hitting 65 without enough money stashed away to maintain their standard of living.

cbs

Shoot...I've been on this same train for a while. Its easy to do with strong dollar. Hopefully it's still a viable option when my time comes
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Online DB

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Re: American "economic refugees" are increasingly retiring abroad
« Reply #1 on: September 23, 2019, 03:16:05 pm »
Printing dollars is stealing wealth from everyone who saved.

The last decade has been extremely destructive to actual wealth and a major boon for debt.
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Offline IsailedawayfromFR

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Re: American "economic refugees" are increasingly retiring abroad
« Reply #2 on: September 23, 2019, 04:54:44 pm »
The protections given Americans overseas are fading away.

There will come a time when those seeking the cheap high life will scurry back here due to increased dangers of where they choose to live.
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Offline berdie

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Re: American "economic refugees" are increasingly retiring abroad
« Reply #3 on: September 23, 2019, 08:08:39 pm »
Quote from: IsailedawayfromFR on September 23, 2019, 04:54:44 pm
The protections given Americans overseas are fading away.

There will come a time when those seeking the cheap high life will scurry back here due to increased dangers of where they choose to live.



Those were my exact thoughts. If something breaks loose...I'd much rather be here than in some other country. Americans aren't real popular and besides where in the heck am I gonna get good TexMex?
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Offline truth_seeker

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Re: American "economic refugees" are increasingly retiring abroad
« Reply #4 on: September 23, 2019, 08:20:15 pm »
Quote from: IsailedawayfromFR on September 23, 2019, 04:54:44 pm
increased dangers of where they choose to live.

That has been a  concern, but I have friends in Puerto Vallarta Mex. and in Thailand--both forseveral years.
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Offline berdie

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Re: American "economic refugees" are increasingly retiring abroad
« Reply #5 on: September 23, 2019, 08:56:11 pm »
Quote from: truth_seeker on September 23, 2019, 08:20:15 pm
That has been a  concern, but I have friends in Puerto Vallarta Mex. and in Thailand--both forseveral years.



I have a sil and her husband that moved to PV  and lived there for several years...cheap and beautiful. They moved back here last year because "things have changed". I don't know about Thailand.
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Offline Applewood

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Re: American "economic refugees" are increasingly retiring abroad
« Reply #6 on: September 23, 2019, 09:10:03 pm »
This morning I got a haircut and the stylist -- I've known her for years -- was talking about her upcoming vacation with hubby in Costa Rica.  So I said something like, "planning for retirement, eh?"  She said she and her husband would love to, but then only thing stopping them is concern over the quality of medical care.  This gal has had a number of health issues -- most recently, she received a new kidney.  Understandably, she is concerned that if, God forbid, the new kidney fails or some other health issue arises, she might not survive in a foreign country. 
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Offline roamer_1

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Re: American "economic refugees" are increasingly retiring abroad
« Reply #7 on: September 23, 2019, 09:16:20 pm »
Quote from: Applewood on September 23, 2019, 09:10:03 pm
This morning I got a haircut and the stylist -- I've known her for years -- was talking about her upcoming vacation with hubby in Costa Rica.  So I said something like, "planning for retirement, eh?"  She said she and her husband would love to, but then only thing stopping them is concern over the quality of medical care.  This gal has had a number of health issues -- most recently, she received a new kidney.  Understandably, she is concerned that if, God forbid, the new kidney fails or some other health issue arises, she might not survive in a foreign country.

The family owns a couple hundred acres down there in Costa Rica... Beautiful, I hear... Mostly done up in cacao, coffee and banana... I guess you can walk out the door and pick breakfast right off the trees. pull fish right out of the ocean every day.

Nice to know it's an option if it goes sideways in the US - But it ain't no place for a mountain boy. I would probably rather walk off right here...  :shrug:

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Offline IsailedawayfromFR

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Re: American "economic refugees" are increasingly retiring abroad
« Reply #8 on: September 23, 2019, 09:22:21 pm »
Quote from: roamer_1 on September 23, 2019, 09:16:20 pm
The family owns a couple hundred acres down there in Costa Rica... Beautiful, I hear... Mostly done up in cacao, coffee and banana... I guess you can walk out the door and pick breakfast right off the trees. pull fish right out of the ocean every day.

Nice to know it's an option if it goes sideways in the US - But it ain't no place for a mountain boy. I would probably rather walk off right here...  :shrug:
How high a mountain do you need to be happy?

Costa Rica is full of mountains, with this one over 12,000'



« Last Edit: September 23, 2019, 09:44:10 pm by IsailedawayfromFR »
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Offline roamer_1

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Re: American "economic refugees" are increasingly retiring abroad
« Reply #9 on: September 23, 2019, 09:28:01 pm »
Quote from: IsailedawayfromFR on September 23, 2019, 09:22:21 pm
How high a mountain do you need to be happy?

Costa Rico is full of mountains, with this one over 12,000'

It ain't just mountains... It's what grows on them mountains. I am a creature of the boreal forest... Piney woods, birch and alder groves, cottonwood and cedar... I would not like to be away from the mountains - I can't navigate without them - But take away the mountains and throw me in the Michigan UP... I would be fine. Not so in Costa Rica.
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