Barry Richard – Retiring Outside Of The U.S.? Many Have
Many people who near retirement age begin to think about how they might like to live out their "golden years," and where. Ever think about retiring to another country? A lot of folks have.
According to the Social Security Administration 17 percent of those who retired between 2010 and 2015 retired to a location outside of the USA. Thats amazing! Would you ever consider doing that? 42 percent of them retired to, of all places, Japan. Many were retired military who had served there.
Other popular retirement locations include Mexico, Canada and the UK. Some who retired to Mexico told the AP they did so because of the warm climate and more affordable rents and utilities. Concerns about healthcare, cultural differences and language barriers bothered some. Many who chose Japan say the cost of living is much higher but healthcare costs are less.
Something to keep in mind if you are considering retiring to another country, the SSA says that while Social Security benefits will follow you, Medicare will not so you must be prepared to pay for your own medical coverage.
Hmmm, if I could just figure out how to retire I could worry about where I might want to retire to!