One of the "they" - Paul Brandus - explains that retirement will require about 130% of your present income. Hmmmm. That gets your attention.
That figure is calculated on the reality that you will have to pay for everything, such as the digital devices, your employer used to supply. Also, since you're no longer going to work you have more time to spend money. Here is that article in MarketWatch.
The "they" are on the money, literally, on one point: You will need more for retirement now that you had. That's because inflation is back. That can affect everything from the returns on your portfolio to what it costs to live.
Even supposedly low-cost places to live in the U.S. are becoming more expensive.
An example is Arizona. In addition to inflation, the cost of living is galloping upward because of all the people fleeing unaffordable housing in California. AZ becomes their new home.
An efficiency apartment at Vista Montana in Tucson, AZ which went for $400 monthly, plus utilities, in April 2014, now is priced between $535 to $845 monthly, plus utilities. (Those figures are based on what is posted on the Vista Montana website on 9/7/2018.) The most expensive utility is the electricity for the air-conditioning.
The current reality of inflation and the uncertainty about how high it will rise have been motivating more in the U.S. to consider relocating outside the U.S. for retirement or even semi-retirement. That latter is popular because digital makes operating an online business possible in another nation.
The overseas option, of course, requires research and at least one in-person visit.
The research can be done online. Actually, there is so much information.
Essentially, a couple can live the good life in a two-bedroom apartment, along with household help, nice cuisine, and entertainment, for about $2175 a month. That's doable if each receives the average amount of Social Security payment monthly. An individual would need a bit more than $1400 a month.
Health care, including dental, is excellent and inexpensive in Mexico.
Actually, for extensive dental procedures, folks in AZ and CA cross the border and do dental tourism. A "hard" mouth guard to prevent damage from grinding the teeth at night can cost about a third of what it does in the U.S.
For in-person visits to the places in Mexico where you might want to settle, there are low-cost airline flights.
An apartment can later be rented online through, for example, Point2 Homes. Yes, property can legally be purchased - for relative peanuts.
Should Mexico not turn out to be a fit, then you can travel south to locations such as Belize or Ecuador. The Philippines remains low-cost and welcoming. There many speak English. However, Western Europe has become pricey. But Europe is popular for those who can afford it.
Safety? Of course, you don't go to areas identified as high crime. That information is available on the internet.
Not ready to become, like Ernest Hemingway, an expat?
What still is a bargain in the U.S. is Alabama. Internet research will turn up the cities in which one-bedroom apartments can be rented for less than $400 and houses can be purchased for under $100,000. Most of elsewhere, housing has been hit hard by inflation.
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