Ever considered relocating internationally after retirement? You’re not alone.
An increasing number of Americans are making the leap, according to a report by the Associated Press. Between 2010 and 2015, the number of U.S. workers retiring abroad grew 17 percent, and it’s a trend that’s expected to continue as baby boomers hang up their hats.
Reasons for a post-retirement move overseas vary as widely as prospective destinations. Among those exiting the workforce, some are looking to stretch retirement income somewhere the cost of living is low. Others are searching for better weather or scenery. Then there are those who just want to see the world. No matter the motive, International Living recently mentioned six great places for American retirees to begin Act II, including the following.
Belize is a place of beauty—and diversity! And the fact that Belizeans are friendly and speak English doesn’t hurt, IL notes. The northern city of Corazol offers a Caribbean-inspired lifestyle and affordable beachfront real estate. If rolling hills and lush rainforests sound more appealing, the western hills of Cayo are a great place to be. Residents can bask in the solitude of nature or mingle with expats at the country’s largest open market in San Ignacio Town.
Malaysia makes the transition away from home easy. When shopping, Americans can find products and brands they’re used to. What’s more, the report by IL describes Malaysia as better than ideal from a practical standpoint—expats can own properties freehold, there is no inheritance tax and no tax is placed on income repatriated from overseas.
Looking to step away from the go, go, go typical of American life? Roatan’s the place to do it, according to the magazine. On this slow-paced island, popular pastimes include diving and golfing. Even better, the real estate market has yet to bounce back fully from 2008. It’s no surprise then, the expat population is thriving.
Malta is known for its coastal vistas, rich history and warm attitudes. Leaving little for want, it boasts 300 days of sunshine, a peaceful lifestyle and top-notch healthcare. Crime is scarce here, and the island of Sicily is located a mere 60-mile ferry across the Mediterranean Sea.
Something good must be going on in the Philippines as more than 200,000 expats are currently living here. More than likely, the appeal has a great deal to do with how far your dollar can take you. In fact, the cost of living is over 50 percent less than in the U.S., according to Numbeo.com. If that’s not enough, Filipinos tend to be ultra-friendly.
IL’s top destination? Ireland, and you don’t have to “consider yourself lucky” if you retire there; you’re guaranteed to be. Surrounded by water, it rains on and off regularly in Ireland. But the weather is offset by a gorgeous emerald-colored countryside that is something of fairytales. Even more dreamy, the cost of living isn’t bad. U.S. News and World Report indicated expats who opt to live in areas outside of the major cities can afford to live comfortably for around $30,000 a year.