What each and every your reasons, for not saving for retirement, you are no longer alone. There are millions of Americans, questioning how to have enough money retirement.
There are no longer a lot of options, and the preferences accessible to us, usually, will take a principal selection on your part.
Option Number 1: Work longer and retire later, whilst growing your retirement fund. (Retiring at 67, 68 or even 70 years of age, seems like such a lengthy time to work) However, the massive query is: “Will your health preserve up?”
2. Sell your home, buy a triplex, or even a fourplex, stay in one unit, rent out the other units?
3. Look into a reverse loan program? Maybe.
4. Keep your home, rent out rooms to other seniors, who may additionally be in the identical situation as yourself. This option is used via thousands and thousands of Americans, young and old. If you have doubts that this is true, research the predominant classified advert sites, in any city.
5. If you have more than one adult child, perhaps, you should spend 6 months with one child,and 6 months with the other.
If none of these thoughts sound interesting, than perhaps, considering an “offshore retirement” would possibly be of interest.
It is reported,that over 1.5 million Americans are dwelling in Mexico, Central America and even South America, for pennies on the dollar. Beach front condos, inn fashion apartments, part-time maid, lobster for dinner, all for $1200 to $1500, or much less per month! Warm weather, clean air, excessive pace Internet and less expensive health care, included.
All you would actually need is a credit score card or a savings account for airfare, returned to the US, in case of a household emergency, wedding or etc. Seniors, who choose for this existence style, generally return to the US for clinical check-ups, once a year. It does not hurt to return to the US at some stage in the Holidays, so you can spend time with household members.
This lifestyle, is what many Americans dream of, yet never attain for, due to worry and uncertainty. If trying to live, in the US, on much less than $1000 a month, does not scare you, than nothing will.
In Mexico, the place health insurance plan is around $25 a month, the electric powered bill, $50 a month, and a maid for $5.00 a day, it is no marvel that extra and extra Americans are departing for Mexico. Millions of Americans have packed up and moved south of the boarder, and many of these Americans stay very well, on a small budget.
Active Adult communities, where Americans have and can purchased, are placed in all parts of Mexico. Prices range greatly.
Another retirement hotspot, is South American. Besides the 12 months round warm weather, top notch beaches and friendly people, you can rent an condo for $125 to $250 a month. Of course, you prefer a safe regional and a hint of luxury, so be prepared to spend a reported, $500 a month.
In South America, retirement hot spots are positioned in Brazil, Panama, Bolivia, Chile, Peru and Paraguay. The top key-word for retirement in South America is: “Rio de Janeiro”
In 2014, Rio will host the world cup. And in 2016, they will host the Olympic games. If you are planning to retire to Rio, purchasing actual estate, “before” the Olympics, may be a proper idea.
Based upon my research, the lowest price of living, retirement packages, were found in Asia. In Asia, you can live, pure luxury for much less than $800 a month.
A few international locations in Asia are promoting, what they name a “long stay” program, the place retirement resorts, are, akin to four and 5 megastar motel hotels. The key-word here is: “Thailand Retirement”
Regardless of how old you are, it is by no means too early to begin planning for retirement. The sooner, the better. However, if you are closer to retirement than not, and forgot to store for retirement, there are options.
Sandy Ingram is founder of e-Publication; an Online ebook of love stories, data and e-Books.