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No, it’s not “Sun City”. An increasingly large number of retirees are emigrating abroad, for very practical reasons, and according to recent surveys, the major choices for retirees have two major characteristics: A warm climate, and a better rate of exchange to the dollar.
Those are obviously the most important considerations for an aging retiree on a fixed income. Some other considerations may be, for instance, a desire to return “the old country” and their family roots, but the primary purpose is to live their “leisure years”, leisurely.
But the primary incentive is to live “better for less”, with a side benefit of having the opportunity to travel and experience other cultures. The fact is, the cost of living in the USA makes it hard for many middle class retirees to enjoy a comfortable retirement, even with a pension, Social Security and whatever savings they may have.
According to a newly-released report by the “Annual Global Retirement Index”, there are three countries North American retirees should consider in 2014: Panama, Ecuador and Malaysia. The Index ranks the best retirement destinations by collating data a team of experts in the most popular countries, and assessing various “quality of life” factors such as Real Estate, Climate, “Special Benefits” for Retirees, Health Care, Retirement ”Infrastructure”, Entertainment and Amenities, Ease of Integration and Cost of Living.
According to the researchers, it’s not a “scientific” process, but a “real-world” snapshot of the places considered most beneficial and amenable for potential expatriates by those who actually live there. The “Annual Global Retirement Index” is not a real estate brochure or government promotion, but an index and a guide to “narrow the choices” for potential retirees who are considering living overseas.