by Larry Darter

Created on: June 09, 2009

For some retirees, the downturn in the U. S. economy has resulted in some significant economic distress. In an environment where almost every type of investment traditionally relied on to provide retirement income has tanked, many are searching for a means of stretching limited fixed incomes. According to the Fall 2009 edition of Kiplinger's Magazine, last year's stock market crash wiped out more than $1 trillion from American's IRA and 401(k) retirement accounts. For those nearing retirement and contemplating the devastating declines in their retirement accounts, the future looks bleak. What can you do if you are already retired and boosting your income is not an available option? What if you were planning to retire next year but given the current state of the economy and the decline of your retirement savings must you simply accept the fact that you are going to have to continue working? For some there might be an alternative, retiring abroad.

According to International Living (http://www.internationalliving.com) you can live better, for less abroad. Factors like less expensive real estate, lower health care costs and cost of living in general, are motivating more U.S. retirees and those nearing retirement to consider taking the expat route and relocating abroad as a means of stretching their retirement dollars.

Some of the most popular locations for Americans retiring abroad, again according to International Living, are Mexico, Ecuador, Panama, Uruguay and Italy. Costa Rica, Belize, Argentina, Nicaragua, Thailand and France are other potential destinations mentioned on the web site that offer opportunities for comfortable, low-cost retirement.

In making a decision about whether you are cut out for an expat retirement, a few factors you should consider are:

1. Can you accept living far away from family and your current circle of friends?

2. Can you feel comfortable living in a different culture?

3. Do you speak or are you willing to learn another language?

4. Are you willing to forgo the range of consumer choices that Americans take for granted but may not be available in other countries?

5. Do you have the patience to navigate a lot of red tape in meeting the requirements of a foreign nation's immigration policies?

6. Are you in reasonably good health and not someone suffering from serious physical ailments that require specialized health care available only in the U.S.?

If you can answer yes to all of the questions posed, you may

• 1
• 2
• Next Page >>