By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Health Works CollectiveHealth Works CollectiveHealth Works Collective
  • Health
    • Mental Health
    Health
    Healthcare organizations are operating on slimmer profit margins than ever. One report in August showed that they are even lower than the beginning of the…
    Show More
    Top News
    benefits of using protein powder to build muscles
    Protein Powder for Muscle Mass: Everything You Need to Know
    December 12, 2021
    changes brought on by blockchain in healthcare
    Technology In The Healthcare Industry
    March 28, 2022
    What Does Core Body Temperature Say About Health?
    August 17, 2022
    Latest News
    Grounded Healing: A Natural Ally for Sustainable Healthcare Systems
    May 16, 2025
    Learn how to Renew your Medical Card in West Virginia
    May 16, 2025
    Choosing the Right Supplement Manufacturer for Your Brand
    May 1, 2025
    Engineering Temporary Hospitals for Extreme Weather
    April 24, 2025
  • Policy and Law
    • Global Healthcare
    • Medical Ethics
    Policy and Law
    Get the latest updates about Insurance policies and Laws in the Healthcare industry for different geographical locations.
    Show More
    Top News
    FDA Approves Diabetes Pill
    May 2, 2011
    Patient Gets Drunk on Hand Sanitizer
    June 20, 2011
    Cultivating Health Improvement
    July 20, 2011
    Latest News
    Building Smarter Care Teams: Aligning Roles, Structure, and Clinical Expertise
    May 18, 2025
    The Critical Role of Healthcare in Personal Injury Recovery: A Comprehensive Guide for Victims
    May 14, 2025
    The Backbone of Successful Trials: Clinical Data Management
    April 28, 2025
    Advancing Your Healthcare Career through Education and Specialization
    April 16, 2025
  • Medical Innovations
  • News
  • Wellness
  • Tech
Search
© 2023 HealthWorks Collective. All Rights Reserved.
Reading: More Retiring in Other Countries
Share
Notification Show More
Font ResizerAa
Health Works CollectiveHealth Works Collective
Font ResizerAa
Search
Follow US
  • About
  • Contact
  • Privacy
© 2023 HealthWorks Collective. All Rights Reserved.
Health Works Collective > News > More Retiring in Other Countries
NewsWellness

More Retiring in Other Countries

Anthony Cirillo
Last updated: January 22, 2013 9:37 am
Anthony Cirillo
Share
4 Min Read
SHARE

More people are retiring overseas according to Wharton School of Business. Older people place a higher value on the present moment. Retiring abroad allows one to enjoy the present moment with more ease than retiring in the U.S. and can lead to greater happiness.

More people are retiring overseas according to Wharton School of Business. Older people place a higher value on the present moment. Retiring abroad allows one to enjoy the present moment with more ease than retiring in the U.S. and can lead to greater happiness.
Beckoned by foreign countries with mild climates and a lower cost of living, many retirees view living abroad as the fulfillment of a life-long dream. Some are former snowbirds who opt for a Caribbean island or Latin American country; some seek out charming villages in Portugal or Spain, and others have landed in more exotic locales, such as Malaysia.

About 350,000 American retirees receive Social Security benefits in countries other than the U.S., according to the Social Security Administration’s annual statistical supplement. The majority of those people live in Europe, Canada and Mexico. As many as 3.3 million American baby boomers are planning to retire abroad, according to figures from Travel Market Report, the industry publication. Three years ago, the paid subscription base of International Living, a magazine for retirees who live overseas or plan to, was 39,000; today, it’s 80,000.

What’s driving them abroad? Money — or lack of it. The cost of living in most international retirement destinations is much less than the U.S. Rent in San Jose, Costa Rica, for instance, is 57% lower than in Philadelphia. Consumer prices in Chiang Mai, Thailand, are 59% lower than in Boston. Groceries in Seville, Spain, are 36% lower than in San Francisco.

More Read

health risks of dirty mattress
Clean Your Mattress Properly to Avoid Common Health Issues
Medical Advances Aid Fight Against Pollution-Caused Skin Conditions
Drink Wine Fall Less
Reviving the Spark: How Physicians Can Renew Their Joy in Medicine
6 Huge Reasons to Consider Consuming CBD Edibles

One of the most pressing financial concerns facing prospective retirees is whether they will have enough money to pay for medical and long-term care expenses. Health care costs have risen rapidly over the last decade and show no signs of abating. A 65-year-old couple retiring in 2012 is estimated to need $240,000 to cover out-of-pocket medical expenses — the costs not covered by Medicare — throughout retirement, according to the latest retiree health care costs estimate calculated by Fidelity Investments. This represents a 50% increase from 2002, when the estimate was $160,000.

Many countries offer subsidized national health care. Depending on citizenship and age requirements, foreigners are often eligible for the programs, and the level of medical care is generally quite high. 

A lower cost of living and access to health care aside, many boomers are drawn to overseas retirement for emotional reasons. After years of staying in a place because of their jobs or their children, they seize on living in a foreign country as their last shot at excitement. 

Personally, I have vacationed in St. Kitts in the West Indies and they have a path to citizenship if you buy property there. Healthcare providers in this country are not developed so that is a big consideration. One thing you should look for when considering the healthcare portion of this equation is whether the hospital you might use is accredited by Joint Commission International (JCI).

 (Source: Knowledge at Wharton)

TAGGED:retirementseniors
Share This Article
Facebook Copy Link Print
Share

Stay Connected

1.5kFollowersLike
4.5kFollowersFollow
2.8kFollowersPin
136kSubscribersSubscribe

Latest News

Do You Grind Your Teeth at Night? Here’s How Night Guards and TMJ Treatments Can Help
Do You Grind Your Teeth at Night? Here’s How Night Guards and TMJ Treatments Can Help
Dental health
May 21, 2025
The Secret To A Confident Smile: Top Tips For Better Teeth
The Secret To A Confident Smile: Top Tips For Better Teeth
Dental health
May 21, 2025
Clinical Expertise
Building Smarter Care Teams: Aligning Roles, Structure, and Clinical Expertise
Health care
May 18, 2025
Grounded Healing: A Natural Ally for Sustainable Healthcare Systems
Grounded Healing: A Natural Ally for Sustainable Healthcare Systems
Health
May 15, 2025

You Might also Like

Qualcomm Life Boosts mHealth Ecosystem with $100M Venture Fund

December 22, 2011
AddictionWellness

How to Manage Your CBD Intake and Take the Best Dosage for You

July 9, 2019
addiction in US
Global HealthcareNews

How Addiction is Segmented Across the United States

May 18, 2017
Aesthetic Procedures
Health

Aesthetic Procedures 101: What To Know Before Your First Treatment

July 26, 2023
Subscribe
Subscribe to our newsletter to get our newest articles instantly!
Follow US
© 2008-2025 HealthWorks Collective. All Rights Reserved.
  • About
  • Contact
  • Privacy
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?