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
A recent article in the Atlantic.com discusses how many older Americans want and need to keep working and how that will require a major shift in the way the country thinks about the elderly.
According to the article, “a lot of people don’t want to grow old the way their parents did. The generation of Baby Boomers has drawn criticism—from themselves, among others—for holding overly high expectations for their lives and for pushing too hard to meet them. These are qualities, however, that could serve them nicely as they strive to grow older with some comfort and purpose”, the article states.
This generation of modern retirees will be challenged with not only filling their time but having enough money to retain solvent past retirement. They also have the challenge of rethinking the way retirement looks.
The question is – do Baby Boomers want to give up their jobs entirely, or shift to part-time or flexible work, as some companies allow? Read the full article at theatlantic.com >>
According to a recent article by Squared Away Blog, many older Americans today are retiring before they’d planned, resulting in lower monthly Social Security checks, slimmer 401(k) accounts, and more golden years to pay for.
There’s no shortage of research looking into what derails these plans. But, for the first time, a new study by the Center for Retirement Research at Boston College ran a statistical horse race among the various reasons known to impact older workers’ decisions. Health issues finished first in the race, followed by layoffs, and a spouse’s early retirement. Read Full Story>>