Don't Have Enough Saved for Retirement? Consider Retiring Abroad
Most Americans are behind on their savings. The median amount the average American family has saved for retirement is just $5,000, according to a recent report from the Economic Policy Institute. Even among those nearing retirement age (age 56-61), the median amount saved is a mere $17,000.
Also, while the cost of living in the U.S. varies depending on the area of the country, it's generally becoming more expensive to cover the basic necessities. Once you consider the costs of healthcare, long-term care, and other expenses you may incur during retirement, it may be more expensive than you think to retire comfortably.
But who says you have to retire in the U.S.? With increasing healthcare costs, a shaky Social Security program, and rising home prices, it may be a good idea to pack your bags and consider moving abroad during retirement.
Source: Fool.com
