About International Retirement Communities
International retirement communities are springing up all over the globe due to factors such as the rising cost of living at home and the overall improvement in the quality of health care abroad. For people living on a fixed income, maintaining the lifestyle they enjoyed while working full time is difficult if not impossible in the U.S. The allure of communities in Mexico, Thailand, and the Caribbean populated with other retirees from the U.S. is growing stronger each year. Many foreign governments even offer special incentives for retirees to relocate to their countries.
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Geography
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While American retirees live all around the world, several countries have come to the forefront of the trend, boasting bona fide American enclaves within their local populations. Closest to home, the Lake Chapala region outside of Guadalajara, Mexico comes to mind. It is estimated that over 15,000 Americans have retired to this region alone. Visitors to Lake Chapala are just as likely to hear English spoken as Spanish. The retirement community there is so well organized they even have an association, the Lake Chapala Society.
Central America is also popular. Costa Rica enjoyed a retirement boom in the 1990s and became so overrun with expatriated retirees that it is no longer considered affordable to retire there. Panama has taken great strides to become the next retirement haven, boasting both big city lifestyle in Panama City and country and island lifestyles further out. They've made the retirement age for expatriates 42, and they offer many tax incentives to retire there. Honduras is right on their heels, offering cheap beach front property and a laid back way of life.
Further out, but also very popular is Southeast Asia and the Pacific Rim. Thailand, Vietnam, Laos and the Philippines all offer unique and appealing retirement incentives. The retirement communities in each of these countries are growing steadily.
Considerations
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Some of the major considerations when choosing an international retirement community are climate, cost of living, availability of quality health care, and how much the retiree wants to assimilate into the local culture. Established retirement communities might feel like just another American suburb with better weather; more adventurous retirees might want to look into less established retirement communities if they're hoping for a truly foreign experience.
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Misconceptions
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Common sense needs to be applied to many of the myths regarding retiring abroad. There are no roving gangs of bandidos on every corner and, just like in the States, if you go looking for trouble you will probably find it. Otherwise, most international retirement communities are sleepy places where people generally mind their own business. The average American retiree abroad is not an alcoholic burnout, pedophile, or on the lam. They are just typical people who went in search of a simple and affordable life outside the U.S.
Benefits
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The major benefits of international retirement communities are the lower cost of living, the often better climate, the excitement of living abroad, and the support of a local community of fellow Americans. Often overlooked, the availability of quality health care abroad has vastly improved over the past two decades. Today many doctors, dentists and specialists throughout Latin America and Asia were trained in the U.S. and their facilities are top notch. Medical vacations are on the rise; many Americans are traveling to places like Costa Rica for major dental work because it is cheaper and the savings can be applied to a lovely vacation in that country.
Expert Insight
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There are many organizations that help facilitate retirees moving abroad. Perhaps the largest is International Living, an organization that publishes a monthly magazine, daily emails and a highly respected annual index of the best places to live on the planet. Another organization with tons of information about international retirement communities is Escape Artist. Escape Artist is also a very good resource for learning about doing business in foreign countries, dual citizenship, second passports and many other fascinating topics.
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Resources
- Photo Credit Lake Chapala Society
