8 Places to Retire & Get the Most Bang for Your Buck

It’s so important to save for our retirement. Many people start paying into pensions in their early 20s to ensure they have enough money for when they retire. However, even with that, many people will not have enough money to cover all their expenses by the time they retire and many people are now moving to countries where they can get more out of their savings.

Check out the storymap below from Easy Life Cover for a complete overview of the best countries to retire in to ensure you get the most out of your savings. There are age, income and residency requirements in most countries, but if you meet the criteria, you may be surprised to learn that in some of the countries, $200k has the potential to last up to 30 years! Even in the some of the most expensive cities like Bangkok, Thailand, the cost of living can still be 50% to 60% less than in larger US cities such as New York and Chicago.  Keep in mind that some countries do require a visa.

If your retirement savings aren’t as much as you’d hoped for, there is always the option to start your life over and have a great standard of living in many beautiful countries around the world.   Also, many of these countries offer special programs designed specifically for retired people such as discounts on utilities, hospital services and flights.

Storymap compliments of Easy Life Cover

What is a Modern Retiree?

That is the question I have – for myself – as I try to define the term in this maiden voyage blog.  The term itself (Modern Retiree) sounds like a cheesy TV sitcom – maybe I should trademark it for its potential commercial value?  I must admit, I like Sofia Vergara, even though I’ve never watched her ABC-TV show, or haven’t purchased any of her cable channel infomercial coffee (presumably Colombian).

No – I think it should be something a bit more serious, and hopefully more useful.  So lets go to Google, the modern dictionary of sorts, for a 21st century definition.

  1. DEFINITION OF MODERN: For those of you who (like me) largely slept through high school English, the term ‘Modern’ itself is an adjective – or a noun – depending on how you use it:  a person who advocates or practices a departure from traditional styles or values.
  2. DEFINITION OF RETIREE: Retiree, on the other hand, is simple a noun: a person who has retired from full-time work.

And thus a basic framework takes form: A modern retiree is someone who has retired from fulltime work; someone who practices a departure from traditional styles or values as defined by 20th century retirement. 

Now, I’m sure I can add (and will add) to this basic framework of ‘modern retiree’.  For me, the next logical level to define modern retiree involves time and money.

TIME AND THE MODERN RETIREE:  Philosophers and Mathematicians have waxed poetically about the DEFINITION OF TIME.  What does Sergey Brin and Larry Page’s search engine have say about time?  the indefinite continued progress of existence and events in the past, present, and future regarded as a whole.

MONEY AND THE MODERN RETIREE: To downplay the importance of money in todays America is full-hearty at best, suicidal at worse.  But ‘what’ exactly is money?  Back to Google for a DEFINITION OF MONEY: a current medium of exchange in the form of coins and banknotes; coins and banknotes collectively.

And now for an extraneous point regarding what it means to be a Modern Retiree, from a personal point-of-view.  A modern retiree is an individual who is determined to leave the world a slightly better place upon his/her inevitable departure from this world.

The foundation has been set!  I hope you’ll stop by this site to see where we take this journey of being a modern retiree as the definition continues to grow and evolve.

Charlie, co-founder of modernretiree.com

Where to Find the Best Senior Discount Lists

What is the Senior Discount Age?

There’s no shortage of senior discounts which can begin as early as age 50 for some stores and restaurants. However, the older and closer to retirement age we get,  many more discounts start to become available to us. According to bradsdeals.com which publishes an online senior discount list, hundreds of retailers are featuring new and improved discounts exclusively for the 60 and older crowd.

Seniorlist.com, another online publisher of senior discount lists, warns that discount policies do change though, both at the national level and at the local level and these changes are not always published.   They advise discount shoppers to ask ahead of time so there are no surprises.

Senior Discount Lists

Seniorlist.com offers one of the most extensive senior discount lists available online and they organize their list of senior citizen discounts into several categories including discounts at grocery stores, prescriptions, senior discounts at restaurants, retail & apparel discounts and travel discounts .  The travel category also includes airlines, car rentals and hotel discounts.  The list is updated through-out the year so they keep abreast of changes and any new discounts that become available. You can print out their list of the 2015 Biggest List of Senior Discounts here or browse their website at Seniorlist.com.

BradsDeals.com  is another great resource for finding senior discounts and they provide an extensive list of restaurants that give senior discounts, retail and clothing discounts, grocery discounts and travel discounts.   They also include a list of entertainment discounts for theaters, fitness centers, cinemas and other fun attractions.  You can print out the complete list of 100+ Stores with Senior Discounts here or simply browse their website at BradDeals.com.

AARP gives Members access to savings and discounts that come with an AARP Membership which costs $16.00 a year.  From their main discount page, you can get access to a variety of discounts for retail stores, car repair and maintenance, flowers and gifts, items for around the house, groceries and also discounts at local businesses that are close to your home.

Premium Outlets – One fun way to claim your senior discounts all at one location is to shop at your local outlet center. The Premium Outlets offers 10% savings on Tuesdays for participating stores.  They are located in most major cities in the United States and are also located internationally.

Of course, keep in mind that Senior Discounts may not always be the best deal as Charles Passy points out in his article on The Myth of the Senior Discount.   Charles makes a point that you can also get AAA discounts,  pay-in-advance discounts, corporate discounts, or another promotional rates or packages. And that’s on top of the options to book through a third-party discounter (like Expedia or Hotels.com) or to use miles or hotel reward points.  Like many of us, Charles was disappointed because he couldn’t find many worthwhile senior discounts for those of us in the 50-62 age range (and especially for those of us in the 50-55 age range).  Nevertheless, depending on where you shop or the restaurants you frequent, 10% to 15% discounts can add up into significant savings over time!