Retiring Abroad

31% of Americans have no retirement savings at all

It's no secret that many Americans aren't saving enough for retirement, but a big chunk of households have saved nothing at all. Nearly a third, or 31% of U.S. adults said they had no savings or pension to help them afford retirement, according to the Federal Reserve Board. Even more alarming: 19% of those very close to retirement age, between the ages of 55 and 64, said they had no savings. As a result, more than half of these respondents said they planned to either work full-time or part-time during their retirement years
Comment: Scary!!!!

5 reasons not to retire in the U.S. - The number of retirees overseas has more than doubled in 10 years
Americans’ dollars have more buying power in countries with a favorable exchange rate. Michael Ward, CEO of Europe and North America at USForex, an international money transfer service, notes that Americans abroad will only get around 75 euro cents on the U.S. dollar. However, the Czech Republic is not part of the Eurozone and, therefore has a more favorable exchange rate. Costa Rica, Argentina and Mexico are other countries with a good exchange rate and lower cost of living than the U.S., he says. For the truly adventurous, the U.S./Australian dollar rate has greatly improved over the last year, Ward adds.
Comment: Close friends are intending in retiring to Costa Rica. He was born there and they have a farm AND beachfront property in Costa Rica. He is currently retired and she is 2 years away from retirement. Image source

1 comment:

  1. As far my generation goes, we will not be allowed to retire! I am not a big fan of retirement anyways.


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