Five Overseas Retirement Destinations, the good and the bad

Salon.com reported Retiring abroad is probably not something your grandparents thought about. During the post-war period (1945-1960), American seniors had a decent shot at combining pensions, Social Security and savings to live happily ever after.

Not anymore. In their wisdom, American policy makers have arranged things so that huge swaths of the population cannot retire in dignity after a lifetime of work and service to their communities. The gigantic baby boom generation is rapidly approaching retirement age, and millions are looking for places to spend the next stage of their lives. As expat retirement goes mainstream, more seniors are seeking a better life outside U.S. borders, living out their retirement years in foreign countries.

The lure of simple, sun-dappled, low-cost living is powerful, but pitfalls like crime, cultural differences, political vicissitudes, and even something as simple as getting a phone connected can turn paradise into a dicey proposition. In a foreign country we may face language barriers, legal hazards and painful adjustments as we learn to move within a new community far from our networks and connections at home.

With that said, many Americans are taking the leap, and finding that a move abroad can increase their quality of life. Knowing your priorities, setting up a six-month trial period before making a permanent move, and studying the language and culture can increase the odds of a happy transition.

Here’s a look at five popular retirement destinations: the good and the bad. Read Article

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