There is a sense of adventure attached to living in the midst of Italy’s historic art and culinary achievements, relaxing on the sunny Mediterranean coast of Spain, or soaking in the Pacific coast of Costa Rica. If you’re contemplating retiring abroad, living out of the country is not only exciting, but can also be less expensive, potentially increasing the life of your retirement nest egg.
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For many retirees, the decision to sell their home may be clear, while others may be forced to sell due to financial reasons. For others still, the decision is a difficult one since they see benefits and disadvantages to the options in front of them.
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While the predominant fear of retirees is running out of money, the findings that most older retirees still had 80% of their pre-retirement savings after 17 to 18 years of retirement suggest that longevity risk may not be as menacing as many think.
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Physicians monitor the health of their patients by measuring a range of vital signs to help detect signs of potentially deteriorating medical conditions in individuals. Similarly, financial professionals must also monitor the vital signs of a retiree’s retirement income plan due to the special challenges of sustaining retirement income over 25 or more years.
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There is no shortage of discussion of the financial challenges faced by retirees. Even many of the psychological challenges get their fair amount of coverage. One critical topic, however, doesn’t—the pressure retirement places on retirees’ marital relationships.
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