Millions of middle-class retirees from the developed countries have the desire to retire abroad with a lifestyle that has the basic comforts of home, but with a lower cost of living, lower tax rates, lower healthcare expenses, a better climate and certain retiree benefits. Fortunately, not only are retirees welcomed as permanent residents in numerous countries, they are actively encouraged by way of retirement incentives, discounts, and tax and healthcare benefits.
The basic requirement is
that retiree residents must have sufficient income from pensions, annuities,
interest and dividends. This income should roughly be about US$1,500 to
US$2,000 per month, enough to ensure that they can take care of themselves and
not become a burden to the host state. Some host countries also allow retirees
to invest in property or in a business, but generally, active employment is
discouraged.
The baby boomer
generation (born between 1946-1964) number close to one billion worldwide, including
75 million in the U.S. Over three million or 5% of American boomers already
live overseas or plan to retire overseas, a pattern found across the developed
world.However, not all boomers are HNWIs (i.e. with a net worth of more than US$1million), with many relying on their government and private pensions and investment income. But they realize that their retirement income stretches much further in select foreign destinations than at home. This means that they have to relocate to where they can live comfortably and without the need for much of a capital outlay, in countries such as Spain, Portugal, Greece, Turkey, Cyprus, Uruguay, Costa Rica, Panama, Belize, Mexico, Ecuador and Thailand. Other countries covered in the eBook include Fiji, Brazil, Argentina, Indonesia, Philippines, Dominican Republic, Sri Lanka and Peru.
