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Step 1
Spend less money on your daily necessities. Since you are now on a fixed income, every dollar must be spent wisely. Furthermore, there is great uncertainty about the Social Security program, placing greater need to make sure you are not overspending. In some overseas countries, food and health care can cost less than half of what it would in the United States.
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Step 2
Leave an inheritance to your family while spending your retirement in the lap of luxury. By most estimates, a retiree's housing soaks up about 1/3 of his income. For that reason, many people are buying homes in Mexico, Panama, Costa Rica, and other countries around the world because they not only provide them with more than they can afford in the US, but they continually appreciate in value. There is housing to fit most everyone's pocketbook.
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Step 3
Improve your lifestyle. Waking to a stunning sunrise and hearing tropical birds welcome your day can be the beginning of improvements in your lifestyle. With your income going much farther, you can afford things that would not be affordable in the United States. For instance, having live-in help is reserved for the wealthy here; but in many countries, it is the norm because of the low cost.
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Step 4
Continue seeing your family. Many countries you may consider retiring to are within an easy flight from most cities in the United States. With the amount of money you will be saving otherwise, you will be in a position to help more, financially.
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Step 5
Surf the Internet to find retirement information. You will find information on lifestyle, housing, logistics and legal considerations to get you started.
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Step 6
Find others who have made the move. There are large groups of United States expatriates that have formed in many places you might consider. Those people have faced the same decisions that you are now facing; they are very forthcoming with helpful information.
