Money Matters – Ever Dreamed of Retiring Abroad?

 The lower cost of living…the relaxed lifestyle…the gorgeous weather…Well, that’s what it’s supposed to be like. But how does that all square with reality? A recent survey has the answers.
I became fascinated about the concept of retiring outside of the United States when I read several years ago that tens of thousands of US citizens retire in foreign countries every year. This notion ready hit home when my brother-in-law announce that he had purchased a very large home, a “hacienda” with a main house of over 4000 square feet and a guest house on a large piece of land overlooking Lake Chapala in Mexico.  He spent the next few years, while he was still working, to completely renovate and furnish his future retirement home. He fully retired at the age of 62 and has lived there for over 5-years now. It is truly a unique place, as a very large number of US citizens and Canadians call this home.  He and his wife have fully integrated into the life of an “expat” and they love living there.  By no means is this place isolated.  Starbucks; the New York Times on a daily basis; a Harley Davidson Club that he belongs to; great inexpensive medical and dental care; great restaurants and social clubs; really cheap labor – they have a maid, cook, and grounds keeper employed; the freshest organic fruits and vegetable; and more American friends than they have ever had before!
The website “Best Places in the World to Retire” just polled expats from the United States and Canada that are now living in three popular Central America retirement countries: Belize, Nicaragua and Panama. The transplants were asked why they wanted to retire abroad and what it’s been like. The expats expectations were very high and apparently they met them the survey says….retiring abroad made them happy.
The biggest revelation from the survey was the striking number of expats who left home for quality-of-life issues, such as a more meaningful and less stressful life. Lower cost of living wasn’t the only issue to retire abroad, close behind was the quality-of-life issues that expats were looking for as well.
Many expats said they were seeking to live a life like they remembered, or believed it to be, growing up in the ‘50s and ‘60s. How ironic that they’re leaving America and finding it in some other place….expats wanted more of a feeling of community. Knowing their neighbors was a key element in this transition
Expats TOP 4 hopes in moving abroad, i.e. they wanted:
A lower cost of living (87%).  84% said they achieved a lower cost of living.
A simpler, less stressful life (82%).   71% said they achieved a less stressful life.
A more meaningful life (56%). 61% said they achieved this a more meaningful life.
Better weather (74%).  74% said they got better weather.
Also 56% said they’re much happier moving abroad, 28% said they’re somewhat happier, 11% said they’re about as happy as before they moved, and only 5% are less happy now. Similarly, 64% said they enjoy life abroad much more than their former lives.
What expat Americans miss most in moving abroad was first-world goods and shopping (20%) and not enough access to high-quality health care (16%). The survey also found that 42% of the expats never plan to go back to the US, 37% aren’t sure, 16% expect to return to America when they’re old or sick, and 4% said “as soon as possible”, and 3% were anticipating moving back to the US within five years.
If they had to do it all over again (Americans survey) 79% said YES, 12% said MAYBE, 3% NO.
For more information please call Doug Sedam at The Paseo Group 661-295-2400 #1. Visit their website at www.ThePaseoGroup.com.