One of the best kept secrets in the older community is seniors living overseas. In addition to spicing up their lives, seniors are discovering that living overseas can also be less expensive than living in the U.S.
The Social Security Administration estimates that there are over 350,000 American seniors, who receive their Social Security benefits outside the USA. You will find more and more seniors living abroad now, because of the ongoing recession and sluggish American economy.
Seniors Living Abroad – Living the Life of a Senior Expat
An expat, also called an expatriate, is defined as a person who lives in a different country part-time or full. Seniors can expect to benefit from other languages and cultures. Or, you might even locate good-sized expatriate communities in larger cities and popular tourist destinations around Europe, Asia, Africa, or South America.
Retirees can get more bang for their U.S. pension bucks when they are spending their money in markets where the cost of living is much cheaper than the usa. Though many senior expats reside in Mexico or Canada, there are various places in the world where they can comfortably live for under $1000 dollars a month.
Although, there are a few challenges, most U.S. retirees who’ve lived overseas would inform you they are enjoying life a great deal more in the areas they are, in comparison to their own lives in the USA.
• American Friendly – Naturally, you do not want to reside in a country that is hostile towards the United States. However, you also don’t wish to reside in a place where people are only friendly, because of your cash. This is the area where expat communities come in handy. It’s possible to find places where you could live in comfort without locals constantly touting you for money.
• Safety – Remember all of those pictures and nightly news stories you have noticed about Americans being kidnapped and held for hostage?
Well, there are a number of locations in the world where that can happen, but for the most part, many countries are much safer than residing in the United States.
The same principles which apply when traveling or residing in the USA, should apply when you’re living overseas. You should never flash your money around, and you shouldn’t walk round the town with expensive jewelry. You should also not hang around during the night in areas that you’re not acquainted with, and you’re always safer in numbers.
• Steady Income – You don’t need a lot of cash to live in many overseas locations, but it is always a good idea to ensure you’ve got a steady income, which you have enough cash to go there in the first place. This is not typically an issue for most seniors, since they get their Social Security benefits, in addition to other retirement funds.
The nicest part about this is that a few countries give seniors particular retirement visas, or visas that allow you to live as a resident in those states if you have a guaranteed minimum income set by each country. This means that you don’t have to leave the country every few months to apply for a new visa, but might remain there for a year or two before applying again, or you could even get permanent residency or citizenship.
Of course you will need to find some countries that you feel comfortable living. It is possible to scour the Internet to find out about other countries and cultures. The next step must be to visit those countries for a better feel about them. When you are there, talk to a few other seniors who’ve lived in the country for a while, and even hook up with other expats to discover more.
There are many advantages for seniors residing overseas, and you might discover that it is something for you.